Scam alert: PellucidFX - Removed profit after 13 months

Andris4

Private
Messages
26
Hello!

Information in FPA:
www.forexpeacearmy.com/forex-forum/...-fx-offshore-forex-brokerage-opens-doors.html
I opened account with them at 31.01.2013, after that I spoke with director Damon Hunt.
I'm News spike trader, wanted to know, does my strategy is not restricted with PellucidFX.
Damon Hunt told:''News traders are welcome, we like profitable traders.....!''
Also in website PellucidFX you can see:
ZERO RESTRICTION TRADING
SCALPING TRADES PERMITTED

After ~13 months of trading my profit was ~3800EUR, decided to take out some money,
after withdrawal request my account was disabled for investigation.

Mail from PellucidFX after investigation:

Hi,
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.
Please let me know if you have any further questions.
Regards
The PellucidFX Support Team


They returned my deposit and that's all.
Not support, not Damon Hunt didn't answer on my messages, emails.
If need, I have trade videos.

Not serious company, don't deal with them, they are not honest!!!!
 

leo4fx

Recruit
Messages
51
Although I have a strong disdain for any fx brokerage that profits from a scam like sirix autotrading like Pelucid is doing
I have to say that it is not exactly clear what happened here.
Did you start this frontrunning strategy right from the start, like 1 year ago ?
Or did you start this strategy a month ago?

I the last case I can understand the point of view of Pelucid: They found out about it and they took swift action.
I the first case they let it slide for 13 months and when it came to a cash out issue they started looking for an excuse not to pay out.
That would be very questionable indeed.
 

ilearn2t

Sergeant Major
Messages
711
Hello Andris4

Hope everything works out for yourself. ;)

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).

I noticed in the "investigation" quote above, what looks to be the reason for the brokers permanently suspension of your account, after a quick look on their website, I also noticed that their Fixed account states
Zero slippage on pending orders and take profits
, did you yourself have a "fixed" account ?

Good luck
Liz
 

Andris4

Private
Messages
26
Although I have a strong disdain for any fx brokerage that profits from a scam like sirix autotrading like Pelucid is doing
I have to say that it is not exactly clear what happened here.
Did you start this frontrunning strategy right from the start, like 1 year ago ?
Or did you start this strategy a month ago?

I the last case I can understand the point of view of Pelucid: They found out about it and they took swift action.
I the first case they let it slide for 13 months and when it came to a cash out issue they started looking for an excuse not to pay out.
That would be very questionable indeed.

I did News trading from start and all the time.
If broker don't like News traders, then need to say at first.....
 

Andris4

Private
Messages
26
Hello Andris4

Hope everything works out for yourself. ;)



I noticed in the "investigation" quote above, what looks to be the reason for the brokers permanently suspension of your account, after a quick look on their website, I also noticed that their Fixed account states , did you yourself have a "fixed" account ?

Good luck
Liz

Yes, I had ''fixed'' account.
 

moneyforexboy

Highly Suspicious Person
Messages
10
- Removed profit after 13 months
where they sleeping from 13 months , just beacuse withdrawal request is made they told u that - you are violating our terms and conditions

if u have not requested payment they this would have not happened to u mine friend
 

Andris4

Private
Messages
26
- Removed profit after 13 months
where they sleeping from 13 months , just beacuse withdrawal request is made they told u that - you are violating our terms and conditions

if u have not requested payment they this would have not happened to u mine friend
Sounds like your advice is - never withdraw your profit if don't want problems with broker! :D
 
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