CAUTION: There is an FPA Traders Court guilty verdict against PellucidFX. Unless this can be resolved, the FPA recommends caution dealing with this company.
WARNING: August 2014, The FPA is now aware of several traders who are unable to withdraw funds from PellucidFX. Until this is resolved, the FPA recommends AGAINST depositing money with PellucidFX.
PellucidFX appears to be in liquidation.
Pellucid FX are forex brokers. Pellucid FX offers the MetaTrader 4, MT Mobile, and WebTrader online forex trading top platforms. PellucidFX.com offers over 50 currency pairs, gold, silver, and cfds for your personal investment and trading options.
- Not guilty0
|Case ID||Filed||Case name||Verdict|
|2014-095||2014-06-17||BlyPIPs vs PellucidFX.com||guilty|
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Asked for withdrawal more than 10 days ago. Never got any response 'till i used their live chat. "Sarah" told me about technial issues - no more details about how long it might take.
This morning i received the following message:
We are sorry to inform you that PellucidFX has been shut down and is currently in the process of being liquidated.
The liquidator will be contacting you with regards to getting your funds back.
Unfortunately this is all of the information we can provide at this time.
Website is down. Pretty sure the Money is gone.
Updating here in case the "liquidator" is for real...
Now their website won't even come up... What's going on here?! Did this seemingly Good broker turn into Ripoff Crooks who now took my money and ran off somewhere?!
I can't withdrawal my money. Its like trying to get a coin from a broken vending machine. No response to phone calls, emails, online withdrawal requests, and "Sarah" on live chat knows nothing.
Issue escalated to Traders Court BlyPIPs vs PellucidFX.com | GUILTY
Traded successfully here and was very happy with the service. Then told profits were to be withheld for breaching T&Cs....no evidence was given.
Refusal to pay profits based on alleged latency exploitation. Have refused to supply any further details on the allegations. Further details: http://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/34374-pellucid-fx-refusal-pay-profit-disclose-exact-details-alleged-breach-terms.html
They are not paying profits after few months of trading! They write only that is violating of T&C but never get any explanation what...It is crazy! Do not trade with them!
Damon Hunt told:''News spike traders are welcome, we like profitable traders.....!''
After ~13 moths of trading they removed all my profit ~3800EUR
Pellucid is just a word, nothing more.....
I opened an account with this broker based on positive reviews here at FPA. I see there is another trader here who had issues with slippage, which is my issue as well.
I recently experienced massive slippage on two trades of 200 and 300 pips respectively. When I inquired to support about this slippage, here is the response I was given.
"The slippage was due to a large movement in the market, once a stop loss is triggered, it closes the position at the next available price."
If this is the definition of "stop loss", I will choose to trade elsewhere. Other brokers, such as Hotforex have corrected the same issues for me in the past. Unfortunately, they banned US citizens, so cannot trade with them anymore.
We have another scam here,early last year i traded with this company cause they claimed they had a no slippage account,I left when i discovered it was false,this year i saw their advertisement again about the no slippage account.then i chatted with their live help to know if they are now saying the truth.i asked the live help many question regarding their present status and they said the no slippage account is real and price is executed at customers price without slippage,and they also promised stop loss and take profit are guaranteed.after the chat i decided to fund my account on the 30/01/2014 with $200,the $200 was built to $340 before i had a trade on the 07/02/2014,during the trade all my account was wiped to minus....STOP LOSS was'nt ACKNOWLEDGE...TAKE PROFIT WAS'NT ACKNOWLEDGE and i was also slipped about 90 pips.....after this i complaint and i was asked to send a mail,they promised investigating the matter.
now they are telling me this:
We unfortunately cannot refund your losing positions.
We have corrected your negative balance however, as you cannot lose more than you had in your account.
2013-04-09 1Star I have account with hotforex,capitaloneforex,mayzus,thinkforex,fxnet e.t.c,i trade with many brokers cause i don't give 5star to any broker since liteforex stole all my funds,the only thing that attracted me to this broker was when i saw their advert on this site claiming ZERO slippage,then i decided to give them a shot,at first the slippages was minimal compare to other brokers i used along side with them.but to be sure about their services and the zero slippage which they claimed,i made a complaint and they replied me,at first they accepted that they did some adjustment on my account,now the are claiming that i am the one that is modifying the slippages,this people are really ignorant.well i don't have much funds with them,but i don't someone with larger fund to be a victim of this SCAM..the most annoying thing is that they never accpted,they are still claim they operate Zero slippage.that i am the one modifying my orders to 32 pips away from the market price.will any news trader do this???the minimum slippage you get is 10pips,but if the spike are not much you get 3-4pips,yet they claim it is zero slippage.
check this mail to confirm this people are scam and liar
From: Pellucid FX Support
To: Olayemi Ibraheem
Sent: Thursday, March 21, 2013 2:59 AM
Subject: Re:Complaint [Id: S147224-T2915]
I went over this with another tech and we looked over the accounts controls, our Risk controller was updated just over a week ago and a setting was added for broker advantage, we did not know of this change, we were told our risk controller was updated as bug fix, not that there was any changes. We have adjusted all accounts types to turn this setting off.
Please give us your feed back on the account in your continued trades. There should be zero slippage or a rejected price if it has moved.
Thank you VERY much for bringing this to our attention.
you are doing quite well in your account, do you know about the option to turn your account into a managed account?
- Support Team.
To:"Pellucid FX Support"
Subject:Re: Complaint [Id: S147224-T2915]
i placed my buy pending stop at 0.82430..and i was slipped to 0.82523..order number 6141632...to be honest with..ever since i have been trading on your platform i have been experiencing series of slippage like 2 to 3 pips in almost all my trade.but the NZD is too much that is why am letting you know that you are not giving what you promised.
2013-04-08 1Star this guys are scam,we all know that slippage is a normal thing in forex trading,this guys said that they have an account that is slippage guarantee (zero slippage),i fell for it and it inspired me to be taking higher risk.last friday during non farm payroll,this guys gave me a 32pips slippage on my account.the most annoying of all is that they keep claiming that i was not slip that i modified my orders to the price that the fixed me,i have never seen brokers that tell lies has this people does
Rebuttal: Added by Damon Hunt - Founder / Director on 2013-04-09
There was no slippage on this trade, this customer modified his pending order and forgot about it.
We have his IP address and account # logged as having done the modification himself, it is in an uneditable log in MT Manager. We do not have the tools or resources to modify peoples pending orders from their own IPs and Accounts. And why would we?!?!
Pellucid FX does not have any dealing desk software running and none that I know modify pending orders anyway.
Despite the evidence this client will not back down that the pending was not modified, instead his trade entered 32 pips away from his pending order, -ridiculous. Our fixed account uses FillOrKill Execution, if it is not filled at the EXACT price it rejected (not requoted) This entire scenario the way he sees it is just plainly impossible.
Comment: Added by Damon Hunt - Founder / Director on 2013-04-12
LOL, now you are just getting plain nasty! The e-mail you are referencing is a completely unrelated incident in which our Risk software was updated and a new "brokerage advantage" feature was added. Pellucid FX was not made aware of this new setting instead we were made aware of many other upgrades that were good for the trader. You did us a HUGE favor in pointing this out to us, We investigated, found the new setting and turned it off (and reamed out the software vendor). This created fractional slippage for you if you remember. Now you are using an unrelated E-mail to make your point. The point is our Fixed account cannot (it's using FillOrKill execution -google it) slip you, it just physically can't.-Upon investigation it was shown you adjusted your pending order, (Mt Manager logged your IP from your account doing the modification, 30 seconds after you created the pending order). End of story. If any 3rd party would like to verify the log I would be happy to send a screen shot or you can watch me log in and find it in the log, it is uneditable. If the cat pees on your rug, don't kick the dog.