Do not use this company. I opened an account 4 months ago and lost tens of thousands do to my own inexperience and foolishness, however, that is not my main complaint. Yesterday they closed my account without warning and when I checked my email they had just sent me confirmation of this closure but did not give any reason.
They just said we can do this because our Terms and Conditions says we can. I have not broken their rules and my account is well above the minimum $200 threshold. The only reason I can think of is that I was starting to make a small profit of £600 scalping over the previous few days.
It seems as if they are not happy making profit from spreads on each trade and will actually close you down if you start to make some money. Since I have lost over 50k since April, I figure they only have an issue when you manage to make some money. They are more that happy to take your losses.
PPepperstone
Official Response Nov 28 2023
@Andrew newell:
Hi Andrew,
We are sorry to hear that your experience with Pepperstone has not been a positive one. The reason for your account closure was discussed and accepted by you in early September.
If you would like further clarification, please contact us at [email protected].
Do not use this company. I opened an account 4 months ago and lost tens of thousands do to my own inexperience and foolishness, however, that is not my main complaint. Yesterday they closed my account without warning and when I checked my email they had just sent me confirmation of this closure but did not give any reason.
They just said we can do this because our Terms and Conditions says we can. I have not broken their rules and my account is well above the minimum $200 threshold. The only reason I can think of is that I was starting to make a small profit of £600 scalping over the previous few days.
It seems as if they are not happy making profit from spreads on each trade and will actually close you down if you start to make some money. Since I have lost over 50k since April, I figure they only have an issue when you manage to make some money. They are more that happy to take your losses.
@Andrew newell:
Hi Andrew,
We are sorry to hear that your experience with Pepperstone has not been a positive one. The reason for your account closure was discussed and accepted by you in early September.
If you would like further clarification, please contact us at [email protected].