mfosterpsl
Private, 1st Class
- Messages
- 30
I opened an account in December 2013 and traded successfully on it for several months. In March 2014 I tried to make a withdrawal. The response to this was slow and initially only partially filled.
"Sorry for the long delay on this withdrawal, we are currently in the process of changing banks which complicated things a little bit.
The amount of $XXXXX Euro's has been wired to the account number you provided, please note it can take 2 - 5 days to appear on your balance. As per Mr. Hunt's instructions, the wire fee is being paid by us.
We realize that this is $XXXXX Euro's less than you requested, however Mr. Hunt is willing to send you the difference via paypal if you wish it, please let us know"
The wire transfer was never received and finally the full withdrawal amount was received in my account directly via PayPal via Damon Hunts account and his wife's.
So in March they did permit me a withdrawal of profits.
In April my account was suspended and I eventually received the same email as the above:
"Our risk department has looked into your trades and complete trading history and determined
you are violating our terms and conditions namely this:
Without derogating of the provisions of the following Acceptable Use Policy, any of the
following activities are explicitly prohibited and shall be deemed fundamental breach of the
Terms of Service Agreement:
• Latency exploitation in trading.
Several of your trades have been found to be in violation of our terms and agreements in this regard.
All your deposits will be refunded but your profits will not be paid due to the facts above.
Please note that latency exploits are stealing from the broker as the brokerage is taking the
slippage in the market while you profit off of it, (taken from broker).
This is not trading against the market, it is trading against the broker and dangerous not
only for the broker but for all clients within the brokerage.
Your PellucidFX account has also been permanently suspended for these violations
"
My deposits were eventually refunded - BUT they considered the money already paid back to me in March as part of that refund - so have withheld ALL profits ever made on that account.
I have asked for details of exactly which trades have breached terms and conditions, which I have never received, the final email from them on the matter received yesterday:
"Neither PellucidFX nor our LP needs or wants to make this exploit public. It is not profit stealing when there is only a loss. There are no profits in this kind of trading, that's why it is forbidden and illegal as per our T&A's.
We will not be providing any further information.
With regards to your deposits, we accepted you as a client in good faith as well. And then you tried to exploit us. We have returned the total of funds which you have deposited with us. We consider this matter closed."
I have told them I will be posting on here and have invited them to respond.
"Sorry for the long delay on this withdrawal, we are currently in the process of changing banks which complicated things a little bit.
The amount of $XXXXX Euro's has been wired to the account number you provided, please note it can take 2 - 5 days to appear on your balance. As per Mr. Hunt's instructions, the wire fee is being paid by us.
We realize that this is $XXXXX Euro's less than you requested, however Mr. Hunt is willing to send you the difference via paypal if you wish it, please let us know"
The wire transfer was never received and finally the full withdrawal amount was received in my account directly via PayPal via Damon Hunts account and his wife's.
So in March they did permit me a withdrawal of profits.
In April my account was suspended and I eventually received the same email as the above:
"Our risk department has looked into your trades and complete trading history and determined
you are violating our terms and conditions namely this:
Without derogating of the provisions of the following Acceptable Use Policy, any of the
following activities are explicitly prohibited and shall be deemed fundamental breach of the
Terms of Service Agreement:
• Latency exploitation in trading.
Several of your trades have been found to be in violation of our terms and agreements in this regard.
All your deposits will be refunded but your profits will not be paid due to the facts above.
Please note that latency exploits are stealing from the broker as the brokerage is taking the
slippage in the market while you profit off of it, (taken from broker).
This is not trading against the market, it is trading against the broker and dangerous not
only for the broker but for all clients within the brokerage.
Your PellucidFX account has also been permanently suspended for these violations
"
My deposits were eventually refunded - BUT they considered the money already paid back to me in March as part of that refund - so have withheld ALL profits ever made on that account.
I have asked for details of exactly which trades have breached terms and conditions, which I have never received, the final email from them on the matter received yesterday:
"Neither PellucidFX nor our LP needs or wants to make this exploit public. It is not profit stealing when there is only a loss. There are no profits in this kind of trading, that's why it is forbidden and illegal as per our T&A's.
We will not be providing any further information.
With regards to your deposits, we accepted you as a client in good faith as well. And then you tried to exploit us. We have returned the total of funds which you have deposited with us. We consider this matter closed."
I have told them I will be posting on here and have invited them to respond.
. Hope you are not one of that cute guys, who managed to do that 
