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PellucidFX.com Review

Overall Rating: (3.321)
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Total Reviews: 32
Last Updated: 2014-09-21
Description:

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.

Special Notes:

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.

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court COURT file case Cases Open - 0 | Not Guilty - 0 | Guilty - 1   reviews REVIEWS submit review
ID Filed Case Verdict
2014-095 2014-06-17 GUILTY

Olayemi Ibraheem Olayinka, Ilorin, Nigeria

Rating:
Date of Post:2014-02-20
Review: Hello Traders,

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:

Hi,

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]

Hi,

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.

From:"Olayemi Ibraheem"
Time:03/21/2013 08:57:30
To:"Pellucid FX Support"
Cc:
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.

Uncle, Cold Places, Canada

Rating: No Rating
Date of Post:2013-12-21
Review: I have not done well trading yet as I'm still learning the ropes; but I have been very impressed with service.

I had some complaints about the server time setting being brought to MT4 and Sirix, and Mr. Hunt took pains to answer me personally.

As I am new (120 days) to this game I have kept looking for a broker (don't want all my egs in one basket) but I have not found one that tempts me to to open an account except Alpari, and they won't deal with Canadians.

Good spreads, good leverage, instant funding, fast customer service.

If I had one wish it would be that they dump Sirix and find a better web interface, but that's pretty minor.

Brian, , Australia

Rating:
Date of Post:2013-10-31
Review: I have found Damon to be a man of exceptional honesty and integrity.
I deposited funds via Liberty Reserve and as we all know US Authorities closed them down.
Because funds were made via LR I could only withdraw deposit back to LR.
As this was not an option Damon repaid by initial deposit from his own personal account as he was unable to do this through the business.
This was an exceptional gesture and shows what a very honest and decent guy he is.
I am also doing very well now and extremely happy with Pellucid Fx.
Brian

ehgordon, oregon, USA

Rating:
Date of Post:2013-09-22
Review: deposited $ 1000 on 9-11-2013 into fast trader growth fund . down to $188 by 9-25-2013 . closed acct -----need i say more .

Jack Maverick, Advance, NC, USA

Rating: No Rating
Date of Post:2013-09-13
Review: I thought it only fair - in light of a skeptical comment I made earlier (which Mr. Hunt kindly replied to) - to state that I have since researched Pellucid, and overall have found very, VERY favorable reports - so much so that, although I'm quite happy with my current broker, I'm considering opening a second account with Pellucid. In my opinion, Pellucid is definitely worth trying out. (Thank the Lord, Christ, Damon had the good sense to set up operations outside the U.S., thereby avoiding the idiotic regulations that have fallen on U.S. traders in the past few years.)
So, in sum - thanks to Damon for his polite reply, and I would unhesitatingly say that Pellucid looks like a ray of fresh sunshine in the endless horizon of forex brokers

2013-08-17 No Rating I do not have experience with this broker, but I am concerned by what I read about the spreads. Although most people seem to describe the spreads as "pretty good", they seem inexplicably high to me for an ECN account. One commenter said the spread he got on Gbp/Usd was 1.9 pips - that's way too high for an ECN spread. I get a better spread than that in a non-ECN account I trade at another firm. To be paying commission AND have to deal with a 1.9 spread, that seems outrageous to me (after all, what supposedly justifies the commission fee on an ECN account is the fact that spreads are virtually nil).
Just expressing that concern, as the spreads caught my attention as I read through the comments. I'd be interested to read an explanation from someone at Pellucid.

Comment: Added by Damon Hunt - Founder / Director on 2013-09-04
Hi Jack,

On an ECN the spread is fluctuating, maybe he got filled near announcement? We give the tightest spreads we can possibly offer, in fact this ECN is RAW from our Liquidity provider. We do seek out the best Liquidity we can find and are steadily moving up the ladder, its a bit hourse before the cart problem as traders want the best spreads possible before they will trade somewhere and Liquidity Providers want to see volume before you get a break.

Thank you very much for the comment, sorry I did not see it earlier.
Admin Comments: Not a client. stars changed to no rating.

Ian K, Pennsylvania, USA

Rating:
Date of Post:2013-09-10
Review: I recently signed up for pellucid fx and deposited a small amount, $450. Just to test it out. I normally would put more but with this being unregulated and in the british isles somewhere I am very nervous. I am up about 30% in 2 days so I am curious to see how the withdraw method works. I already found out that wire is the only way to withdraw profits and my bank charges a huge fee for international wires plus Pellucid charges a fee. Extremely inconvenient. But I am a very good and respected trader and I manage a few accounts.

Also I tried calling them and my cell phone provider cant even make a call to wherever they are located. I will be really interested to see how it goes when I make 4000% percent on this small account, then we will see what they are made of. Until then I leave a 3 star review. Could be higher or lower in the next few months.

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Quinn Ronin, Florida, USA

Rating: No Rating
Date of Post:2013-08-29
Review: I've had a demo account with Pellucid, which I use to develop my trading strategy, for over a year now.

I want to address the spreads which have been mentioned by a few others who felt that they were excessively wide.

A few weeks ago I noticed that the spreads were much wider than my other FX accounts. In fact, they were so wide that scalping profitably would have been difficult, if not impossible.

Recently, however, the spreads have come down to a level that is LOWER than my other accounts. In addition, Pellucid FX has no minimal distance to place pending orders, unlike some of my other accounts.

So, when you're considering spread width, you must add in the minimum distance away from the price. If the spread is 0.7 pip (which it has been at Pellucid FX lately) but you can only place a pending order 1 pip, the spread is not 0.7 pips, but 0.7pips plus 1 pip, or 1.7 pips.

Requiring a number of pips away from price for an order is just another (sneakier) way of widening the spread.

The spreads on some of my other accounts have widened during the same period and also require a minimum distant from price for pending orders.

With Pellucid you can see what spread you're getting right up front. Overall, I would give pellucid FX an excellent rating for their growth and performance, and addressing problems quickly as they arise.

Rich G, Ohio, USA

Rating:
Date of Post:2013-07-04
Review: best broker I have used in several years, im actually comfortable using stops for the first time ....ever lol. i cant remember my trades ever getting entered or exited without delays and pauses, ill be here until someone smacks me and I wake up. Kidding aside im still new here and started very small but very impressed so far. segregated funds as well is a good thing. will update if situation changes but seeing past reviews im not planning on it.

Nathan duke, Rapid City, USA

Rating:
Date of Post:2013-06-26
Review: Overall I'm very happy with Pellucid FX, my deposits and withdrawals have been completed smoothly and my (ECN account) has been running great, spreads are good, (important for my scalping strategies).

I tried a few other brokers before I came across pellucid I just wish I had found them sooner because it's a complete reversal to what I've experienced with other brokers, I actually feel like they care about me an want me to profit with them.

A solid and professional broker so far, will keep you guys posted

Mary, Helena, USA

Rating:
Date of Post:2013-06-20
Review: I started using Pellucid FX as it was the recommended broker for a scalping EA I had bought, the Pellucid guys were great as I was having trouble setting it up on my MT4 they actually logged into my computer for free via teamviewer to help set it up for me (the problem was the security settings in window vista).

So far my Ea is running great with these guys, can recommend without hesitation
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