Pellucid FX - Offshore Forex Brokerage - Opens Doors

[Damon]

Hello,

My name is Damon hunt, I am a Forex trader and until recently I managed accounts. Now I am founder and director of Pellucid FX.

Please refer to a discussion I started on FPA in June 2011 "Can we build a better brokerage" for a more in-depth history of Pellucid FX

​

I founded Pellucid FX to solve a great many problems I was running into in the forex trading arena:

1. The better I did as a trader the worse my trading conditions got.
2. My investors were confused when trying to enter into my managed accounts.
3. I could not customize my managed account trading conditions enough
4. Tools that actually helped traders were difficult to find and never featured by my brokers (As they rarely = volume.)
5. Regulators were stepping in and making it more difficult to trade. But not making it safer for us traders.
6. Although I had a billion options to fund, I rarely had an option more than a bankwire to withdraw with.

So let's see what Pellucid FX does about those problems:


1. Warning realty adjustment follows: Pellucid FX has it's stop hunt option off... yup, it's a standard brokerage option, there are many automatic options that a broker has standard in his software (And the conspiracy theorists win!), one of them is Stop Hunt (set the amount and it automatically widens spread by that amount to take you out at your stop loss), Sick eh!? Other options include:

• Minimum Slippage (both entry and exits)
• how much to let a trader have of positive slippage (if any)
• Whether or not to fill you themselves or put your order through to market (Trade against you)
• minimum stall (how many milliseconds to wait before your order goes to market or you are filled.

All these settings can be changed per trader or account type, and can be customized for order types, for example a broker could only use minimum slippage option on winning trades. In my case my broker was pulling all the tricks out of the bag because he was trading against me and losing, then moved me to STP and was not making enough money on me just taking the spread. Pellucid FX does not chase you, not only that you can contact Pellucid FX if conditions are not appropriate as Pellucid FX can do things like move you from market order to Kill or Fill executions if your strategy is really finicky about needing a certain price.

2. Pellucid FX has a portal (home page/back office) for investors that keeps forex and trading jargon out of the picture.


3. I have designed custom software for PAMM accounts offering more options and operations with simple controls.

4. I am hosting a page with tools and services that have made me or my friends profitable and consistent traders, the way I do this is as director I will just put them up on the resources page! It is up to Pellucid FX to affiliate with them and try to make a buck on it (Sive Morten's free daily videos are on there... good luck with that!)

5. Pellucid FX is unregulated. I have endeavored to put as much information on our site as possible so that client's can do proper due diligence for themselves. You can see where the company is formed and registered including registration documents, I have even put the phone number of Pellucid FX's Lawyer firm on the site, (ever been able to get 3rd party verification of your accounts being segregated? you can at Pellucid FX

6.​ Pellucid FX has a preferred banking solution for affiliates and profitable traders and investors. The client's funds bank is an "A rated" (Highest Moody's rating) bank out of Cayman, called Caledonian. Pellucid FX has set up an option with them that if you also have an account with them (we can introduce you if you don't) you can transfer between your Pellucid FX trading accounts and your own bank account at Caledonian for free! They offer an excellent unlimited (no cap) Debit/Credit Card with card fees rivaling my own local bank fees... did I mention it was offshore? This is a huge step for me as a trader that likes to draw funds regularly and have it immediately accessible with no limit caps or anything weird... just give me my money!

What sets Pellucid FX apart:

• $200 minimum deposit
• Segregated accounts -Standard!
• Unregulated and Accountable
• Preferred Offshore banking Solutions
• NDD, STP trading conditions
• Fixed, Variable and ECN account types
• Investor Portal
• Next Gen PAMM accounts
• Social Copy Trade Web Platform
• Execution Customization
• Friendly

Pellucid FX also needs to be competitive so we have a billion funding solutions and tight spreads and MT4 and all the regular jiz jaz, but that's not what I am excited about.

I am excited that I can offer all walks of the forex world my dream brokerage

Pellucid FX is soft launched which means we are up and running but grooving staff in and squishing bugs as they pop up (for example we are moving to our proper domain host from the development server and E-mails are blinking on and off !) Besides the possible bug, it is the best time to check out the Pellucid FX, I am in the trenches and would love all feed back and ideas so I can change and help and implement as best as I can from ground level. For me this is the fun bit, when it gets to the part where all my programs are implemented (TONS in the pipeline still, sshhhh) and I have no further ideas and I am supposed to sit in a chair and "direct"... I think I will just go back to what I love, trading.

 

[Hagen]

Unhappy with Pellucid

Dear Mr Hunt,
Anyone reading your post of Dec 18 2012 where you outlined your Mission Statement, Aims & Objectives, etc., would be heartened to think that here was a man of honesty & integrity on the side of the 'little trader'.
However....my experiences with the PellucidFX trader website paint an entirely different picture.
I opened an account after receiving several email sales pitches to 'copy live trades' & make serious profits easily, or words to that effect. After becoming familiar with the site I elected to copy the trades of a few top traders, including Piccsoux ( or a similar name ). A couple of days later I checked the site & was pleased to find Piccsoux had just closed a trade for a 9% profit. 'Good start', I thought, & checked my account thinking to find a couple of extra Euros there. I was, naturally, horrified to find my account showed a loss of 81 euros from a bank of 100 euros. Piccsoux makes 9%. I lose 80%. Could you explain that, please ? Because I always understood 'to copy' meant to replicate exactly.
Thinking perhaps that it was just a clerical error, I sent an email to your Helpdesk to discuss the problem. No answer was received. In fact, several subsequent emails from me went completely unacknowledged. Soon after, despite using what I believed were still my details, I began to experience problems logging in to my account. Needless to say, when I clicked the 'forgotten password ?' link nothing whatsoever happened. I can only assume this was to prevent me sending more emails.
So, Mr Hunt, can you furnish me with a logical explanation as to why 80% of my bank disappeared overnight ?
In the interests of fair play, I will say that should this situation prove to be the result of an error, & full restitution is made, then I will apologise handsomely for ever doubting your integrity, but, for the moment, the jury is still out. Should you wish to discuss this privately, my email address is minion@aon.at. I await your response. Thank you.



Tony Clarke

 

[Damon]

Hi Tony,

We have received E-mails from you but anything we send to your address gets bounced back to us, we have a whole list of bounced back E-mails to you.

I would very much like to have this investigated, we have had problems with the Sirix copy trade before and in every instance we have taken responsibility, they are rare, but when they do happen, we make it right.

Do you have another E-mail that Support can contact you at? or can you send an E-mail to support with another E-mail address that we can update your details with.

Looking forward to hearing from you.

Damon Hunt

 

[Optimous]

PellucidFX Website

Dear Damon,

Is Pellucidfx.com down?
I cannot access it the whole day.

William

 

[Pharaoh]

It's up now.

 

[exfarmer]

Copy Traders for Free. Has Tony Clarke's problem been solved.? Has anyone else tried this and if so with what result.

 

[Damon]

Copy Traders for Free. Has Tony Clarke's problem been solved.? Has anyone else tried this and if so with what result.

Tony Clarke's issue has been resolved it was an error on our part and he was credited back his loss.

As for the webpage down that was to two DDoS attacks we received that took the website offline, this has been handled and should not occur again.

 

[leo4fx]

Hi,

Summary: For anyone who considers to copy the trades at pellucidfx.com; DONT DO IT.
On the MT4 platform itself i have no negative comments.

This coping proved to a fast track to losing 15% of my account in a couple of days.
I also have a ZULU account for more than a year and to compare it with that i'd have to say that zulu enables you to
at least see what the trader you want to copy has done in the past. And what kind of risk you are taking.
With the pellucidfx.com social trade environment it is practically impossible to make a realistic assement of what to expect of the traders you copy.
From my quick assesment the traders that i unfortunatly copied had the "Random open trades, No stop loss & just wait until the trade is profitable" trade system.

To Damon: In my view, you should have done better on the trade copy department to deserve the recommendation of Sive.

 

[Damon]

Hi,

Thanks for using this forum to promote Zulu trade... d'oh!

Anyway, the social trading is not something I developed it is something that is included in the Sirix web trader platform we provide. I agree there could be more in depth history on the traders, since we have offered it has been upgraded 3 times, its getting better and better.

I don't think Sive was looking at the platform features of the different platforms when he recommended us, he was looking at the brokerage as a whole.

Thanks for your comment

 

[leo4fx]

Autotrade business model

Hi,

Thanks for using this forum to promote Zulu trade... d'oh!

Anyway, the social trading is not something I developed it is something that is included in the Sirix web trader platform we provide. I agree there could be more in depth history on the traders, since we have offered it has been upgraded 3 times, its getting better and better.

I don't think Sive was looking at the platform features of the different platforms when he recommended us, he was looking at the brokerage as a whole.

Thanks for your comment

This was in no way intended to be an endorsement to go autotrade with Zulu.
In fact I run an investment website and I have chosen NOT to promote their affiliate link although it would probably make good money.
This is mainly because i don't agree with the representation of the data that is skewed for marketing purposes.

You will see most traders with demo accounts running systems with huge stop loss targets who do really well in the Zulu review system.
While in fact this is not what you want if is your own money on the line as these systems once in a while produce big draw-downs.
Still their hit ratio looks near perfect...

If a company would have a longer time objective, which could be: "If our clients keep making money we will profit long term on the spread/commissions",
then the autotrade interface should be build to support that objective.

I would propose a listing of best copiers / trader managers to front the main page.
These trader managers should be rewarded over a highwater mark per month with some spread fee sharing deal.
The traders get the full fee if selected directly and share 50/50 if they are introduced by the trader manager.

People will do what the are getting paid for. If you pay them per trade no matter winning or losing; they will trade as much as possible...
Thus losing cash of your clients. This business model is run on many autotrade websites as we all know.

So what model do you want to go for?