Just seen this from Pepperstone, 50 pip manipulation so I checked my Hugosway and IC Markets and both nothing like that. So much for regulated brokers being so great. I’ll avoid Pepperstone for sure.
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Shocking to say the least .
I wonder what their reply for this fiasco will be .
Really highlights how Regultion is not a guarantee against malfeasance or misconduct from regulated brokers .
Always have to be on your guard
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Wow thats crazy candle action. dont think ill be using them
IC Markets do it too. They told me it’s something to do with the spread and lack of liquidity around the market open/close for the day.
They also explain it out because the quotes are dependent on who the liquidity provider is, and at quiet times they vary from bank to bank so won’t be picked up by all charts.
A cynical mind would think that it’s completely in their benefit to do that and trigger a load of SL. They would probably counter with there being as much chance of hitting TP too, but they live on their system, so they would know…
Looks like Pepperstone is finally getting called out for their price manipulation. Hopefully other traders will realize this is a problem and take their money elsewhere. There’s just too much competition for anyone to have to deal with it.
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Do all 3 share the same liquidity provider?
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After they had collected stops from their punters…
I havent seen IC Markets have one but maybe they do i cant imagine it’d be that large. They thing is we are always giving these ‘regulated’ brokers excuses to do these things oh its the liquidity provider etc etc maybe that is something to do with it but we need to make people aware and also come together as a group of retail traders as right now they can do what they like when they like
I really don’t understand by regulated brokers can get away with this? Isn’t that the point of being regulated? It’s not the first time I’ve seen them doing it and I doubt it will be the last
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I’m not even shocked to see it to be honest mate. I’ve been using offshore brokers for a while, regulations don’t seem to mean much.
Be interesting to see who their liquidity providers are as that will be why it happened at market rollover. Looks bad but ICM have done it too as many others will have.
Noted - Another broker to never use!
Explains why so many still prefer to trade through an exchange
That’s exactly why you need to be careful with some brokers.
Does anybody know if they refunded the losses caused by spreads?
Terrible behaviour if not and I would stay well clear of this broker.
Personally I’ve never traded EURSGD though.
the difference in price is unreal! the MT4 or platform candles show the manipulation happening from the broker clear as day.
i understand spreads and stuff like that but this looks like a clear manipulation in favour of the broker.
It’s easy to pile on the broker with no context. Seems to be the popular thing to do.
No details of liquidity provider or tick volume. The gap up could easily have been caused by low liquidity. There’s no tick volume for context.
Only once you can establish that other brokers sharing the same LP didn’t get affected by the same behavior can you start suspecting broker manipulation. Till then there’s nothing here to speculate.
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Feeling sorry for those traders who lost in that incident not for their mistakes but for the manipulation from the broker. This is bad. Does anyone know what is their answer regarding this?
this is madness, how do these brokers get away with it, im ganna be staying well clear
IC Markets got me with exactly the same trick years ago. It’s why I set a TP but not a SL now. No chance I can be stop hunted out of my trade.
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