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2pipsforex.com (Global Clearing Group LTD) Review

Overall Rating: (1.308)
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Total Reviews: 15
Last Updated: 2014-11-14
Special Notes:
Those who want to discuss issues with other reviewers are welcome to post in the Discussion Thread linked from this page.

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FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2008-04-02
Review: We don't have any experience using 2pipsforex (Global Clearing Group LTD) as a forex broker. If you have traded forex with them, please leave a review.

Mohan, Bangalore, India

Rating:
Date of Post:2013-05-06
Review: SCAM!!! This is the worst broker ever... Never ever think of trading with this broker. They manipulate the charts.

They opened an account for me after i made a transfer of $2000 to their Liberty Reserve account. Immediately i started trading. I was shocked to see that the minimum order lots is 1 and opening and closing orders takes about average 10 secs(extremely slow). Thought will give it a try and opened a buy order with 1 lots. The price immediately fell 100 pips down and I lost $110 (The price dint fall 100 pips down on exness and thinkforex at this time). It was a real shock. Again I opened more orders.. the orders were opening of about 100 pips away from the price shown on the chart. The price doesn't come back until you close the order with loss. Now totally i lost about $370 within 10 minutes and stopped trading with them. I'm asking for a refund. Worried what they are going to do.

Be Aware!! They are the WORST brokers I have ever seen.

Marvin Webster (nevercaughtup), Manila, Philippines

Rating:
Date of Post:2013-01-28
Review: Until today they have been trying to pull this scam off again on FXJunction.com A trader ID joeca had an account for a little over a year, but suddenly he uploaded a broker verified account showing he had withdrawn over $400,000 USD and all of his plays were scalps for 3 standard lots. Another community member told me he had messaged joeca and found out that he had an EA he used to make all that money and he would sell it to him if he wired him $500 by Western Union. He asked me if I thought it was worth it. I told him if it was legit it was, but asked him to let me do some checking first. I figured the withdrawals could not be phony unless his broker was in on it so I began researching his broker Global Clearing Group. My first stop in the research was here and wow was I treated to an exact description of what was taking place. I posted a scam alert on FXJunction.com and sent support information with a link to these reviews. Thank you Forex Peace Army for making this info available because this was a very elaborate scam and If not for what I discovered here I believe several of our community members would have been taken in by it . . . probably even me.

manar alsardi, irbid, Jordan

Rating:
Date of Post:2012-10-18
Review: but there very big problem which teams prices between platform demo platform and real company has caused a loss of client most tally with science I've sending the company before signing with them and ask them about the prices in the platform demo as it is in real and they said yes, knowing that I compared prices with real demo and there is a difference very scary and it hurts familiar with your reputation and my reputation as an agent of the company have been queries earlier and you said it licensed and prices were filtered demo also is real and I am now must know why this manipulation the great prices and science client Arslm you screen shot and published emails and screen shot in the global Forex Forum and even the company does not respond to e-mails sent by the client is requesting a full explanation from you and the company and offset the company's manipulation of prices and will be published all email that has
I ask you to bear your full responsibility for the direction of my clients because this will harm the reputation of your company
Attachment of your screen shot

ambadi, trivandrum, India

Rating:
Date of Post:2012-06-28
Review: AMBADI SOMAN
8:37 AM (11 hours ago)

to accounts
Dear Sir,

Pls credit my commission of 165 usd into my LR acnt U3652953. LR Acnt. Name - Abdulsalam Muhamed Haris.

ACNT NUMBER - 5117
ACNT NAME - Ambadi Soman.

With Regards,
Ambadi Soman

[email protected]
5:18 PM (3 hours ago)

to me
Dear Sir,

Dear friends, this is my mail conversations with GCG (2 pips forex)

In order to withdraw your IB commissions you have to confirm your IB status and introduce to us minimum 3 clients, not only one you have introduced.

Best regards,

Litsa Peters
Accounts Department
Global Clearing Group Ltd
http://www.2pipsforex.com
Prime Clearing Member of EUEDEX
European Union Electronic Derivatives Exchange
Registered Member ID: PCM-2233

AMBADI SOMAN
8:23 PM (4 minutes ago)

to accounts
dear sir, tnk u very much for ur mail. and i dnt need that money. i introduced one client and i loss 552 usd in one day bcse of ur forgery system. and again u r asking me to do so. like u people r spoiling the name of forex market.

good bye.

Click here to Reply or Forward

Murugan, Tamilnadu, India

Rating:
Date of Post:2012-02-05
Review: Very Very Worst Broker. Please do not lose your money. I had lost my $240 in a 5 minutes.
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Jack, Las Vegas

Rating:
Date of Post:2010-02-01
Review: This is quite an effective and elaborate scam. I live in the US but have several non-US citizen business partners which as you all know is necessary for opening accounts with the growing list of brokerages that do not accept US clients.
I also started working with this broker through the purchase of an expensive EA showing incredible results in live accounts with this broker. These live accounts even showed periodic withdrawals. I work quite often with an experienced EA programmer who agreed faking a live account in Meta Trader, showing withdrawals would be a difficult thing to do.
Intrigued, we purchased the program. The EA version we received did not produce the same results in demo that were shown in the live account. However, as we waited for the live account to fund we were able to replicate in demo the same incredible results due to some tweaking by my programmer.
Upon notification of funding we began the process of trading live with this broker. As noted elsewhere in this forum, one standard lot was the minimum trade size allowed (all the more quickly to take your money my friend). The EA was able to open trades however no trades were allowed to be closed in profits by the broker. This particular EA is a scalping EA that seeks to close trades with 1 to 2 pips profits. The broker would not allow this, rather would force the trades to remain open until natural market forces triggered the fairly tight 5 to 6 pip stop. Interestingly when market forces moved in favor of the trade 5, 10 plus pips, the broker would not let us even manually close down the trade and would soon spike the data feed the opposite direction to trigger the stop. Incidentally these spikes do not show on any other of our several different Meta Trader data feeds on live accounts with other brokerages.

Conclusion: 2pipsforex.com (Global Clearing Group LTD) is another dishonest Forex bucket shop that did not send our trades through to the market, rather buckets them in-house. Their brokerage software has been set up to protect them and blatantly trade against you and me. Are the EA seller, the owner of the advertised live account and the brokerage working together? Most definitely. A word to the wise, muzzle greed on this one and keep your money in your pocket, this one is not real!

JAIME TOSCANO, MEXICO

Rating:
Date of Post:2009-12-12
Review: This us an update to a review submitted on 2009-11-30.
From all the brokers that I have worked with (more than 20 so far), this is the worst. I started working with this broker because I purchased a sophisticated EA that is supposed to work wonderfuly with this broker. They even publish a "real account" on which the robot is working and let you watch the trades with an investor pwd; and certainly the statement looks close to perfect, I used the EA on a demo account for two weeks with results hard to beleive, so I decided to open a real account and fund it with 2100 usd. Then, to my dissapoinment I found a buhch of things that are quite different from the demo. First, they only let you trade at least 1 lot whereas on the demo it can be 0.1 lots. Then, after configuring the robot with the exact same parameters that I used on the demo account (except for the lot size), I noticed that they started with SL hunting. so I sent them a message indicating them that I noticed SL hunting-like practices to which they responded that they would investigate with their liquidity providers. They never clarified anything.
Then I changed my SL to make it a bit more challenging for an SL hunter and I got my first successful trade (only 1 pip), but that was the only one because after that all trades were loosers. All of them hit the SL again. Curiously on the demo account almost no trade hit the SL. After my dissapointment I decided to withdraw my funds, but taking into account that for closing the account they charge 100 usd (according to other reviews) I decided to leave on the account about 70 usd and just withdraw 1550 of the remaining 1620. According to their web page it is necessary only 50 usd to maintain an account. Well, I suppose my account was not closed, but it was disabled (what's the difference any way?).
So my own personal suggestion to any one trying to succeed with this broker is: DO NOT OPEN AN ACCOUNT WITH THEM.
For whatever it´s worth, I documented my demo statement, my real statement just before the withdrawal, the initial wire transfer, the emails, a screenshot showing the legend "account disabled" and finally my withdrawal request.
Be very very very aware.
Shame on you GCG guys.
For GCG guys, If you feel like answering to this review, please do so. I would be more than happy to trade with you again and to send a public apology if my real account traded generated just 10% of the profit in my demo account using the exact same strategy on both.
SCAM ?, well, hard to say: SL Hunting and demo behaving not just with minor differences but quite in a different way than the real account. What is the purpose of having a demo account then ?

2009-11-30 2 Stars This an update to a review posted on 2009-11-25.
My funds were finally acknowledged by GCG and I already have my account number & pwd. Now I noticed that the minimum lot size is 1, instead of 0.1 for demo accounts. I have been trying to contact them through live support, but apparently there are no operators available. Demo account and Real account behavior is completely different. The strategy I am using on demo works quite well, but on real account it simply does not place any trades at all.
I have second thoughts about closing my account with them because they will charge 100 usd as a closing fee. This is something I learded reading the reviews, not on their web page.

9-11-25 No rating I sent the first wire transfer to fund my GCG account on last November 20th. Today is the 25th and GCG still has not recognized the deposit. I went to my bank to find out whether there had been any problems with the wire transfer but they mentioned that there were no problems. They showed to me the wire transfer status on their bank computer.
This is my first post for GCG and for now it is just a friendly reminder to GCG that I am still waiting for my acct. number, which shall be ready once they acknowledge my first deposit. Everything is documented including the bank's receipt, the wire routing number, their email indicating that I could fund my account and their wire transfer instructions.
For whathever it's worth, the live support does not work.

Yahia Sewellam, Egypt

Rating:
Date of Post:2009-12-08
Review: They are the worst SCAAAM and robbers you will ever find , i deposited with them $2000 and in less than 5 minutes they stole $1400 from them through there dealing disk as once you open a trade they start going against you with the price till you hit the margin call , and ofcourse forget about there support as they are never there and never answer the phone calls , SO GUYS PLEASE TAKE CARE AND DONT BE FOOLED BY THE 1 PIP SPREAD THEY OFFER CAUSE U WILL LOOSE ALL YOUR MONEY IN A MATTER OF SECONDS , and i hope FPA helps us shutting them down and suing them.

Kerry Sumbadji, Jakarta, Indonesia

Rating:
Date of Post:2009-11-18
Review: This is the best scam broker I've ever seen.
I open a new acct $2000 deposit using Liberty Reserve
Then try to open ECHF in asia seasoan the suddenly the price have spike 20 pips. Then try open AUDNZD then same thing happened again spike about 20 pips while oher broker price is not.

I close all in loss. My Balance is $1942 then I request a withdrawal and the scam broker send me only $1842. When I ask where is my $100. They said there is $100 closure fee which I can't find it in their website or in the agreement.

I ask them where is the $100 fee written, they don't reply.
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