FXCLearing.com Review

I'm a news trader. I opened BUY STOP and SELL STOP 1 minute before news release.
Yesterday, February 14th, 2018 in news release USDCAD for Core CPI m/m report, I open pending order position in FXCL ECN Plus account.

I found that in my ECN Account Plus, FXCL holds my pending order for almost 10 minutes and execute it with 52.2 pips slippage!!

in a normal situation, I should get profit trade at least 50 pips. if calculated by 1.88 lot, the profit that I will get from this trade is 500 points x 1.88 lot = 940 USD! but in reality I loss 32.72 USD!

I opened Pending Order (SELLS TOP and BUY STOP) 1 minute before news release USDCAD last night. but somehow after the news released and price going up for almost 50 pips, my BUY STOP is not opened. then after 10 minutes, FXCL hold my Pending Order, FXCL executed my PO at price with 52.2 pips slippage!

then I contacted their customer support via email at support@fxclearing.com and get this reply:

"Dear xxxxx,

Our investigation showed that within a short period of time, a large number of new clients from Malaysia who are using identical trading strategy came to our company. Their strategy is to set a great number of pending orders during the major news releases. During the news release these order block each other thus form a queue. Our liquidity provider executes such orders at a current price available at a moment a queue comes in. We recommend to take these circumstances into consideration when choosing a trading stategy.

Kind regards,
Neville Ford

Account Manager
FXCL Markets Ltd."

The funny thing is they blame traders because trade with news.
From this incident, I 100% sure that FXCL is a dealing broker. their ECN account is just another fake ECN.

I was promised by these brokers of FXCL that once I will start trading, they will guide and help me running my trades and gain profits. I put large amount of money, after 3 weeks all these money wiped out including my deposit and earned profits. My open trading which they recommended the signals got bigger and bigger NEGATIVE profits until my account suddenly wiped out. I'm trying to ask them if I can get my money back, their answer is. . you have to deposit another amount equivalent to what have lost and we will manage your trading and get back the amount soon. I got no trust anymore with FXCL. I feel I was SCAMMED. Right now, they do not reply in my messages. They are also filipinos.

A huge scam. It's been more than a couple of months and i still havent received the money that i withdrew. NEVER INVEST WITH FXClearing

FXCL AGENT PERSISTED THAT I OPEN AN ACCOUNT FOR 500 US DOLLARS. AFTER FEW WEEKS OF TRADING, CONSEQUENTLY ASKED ME TO DEPOSIT ANOTHER 1000. AND INSTRUCTED ME TO TRADE OVER SIZED POSITIONS DAILY THAT EVENTUALLY LED TO LOSING THE WHOLE ACCOUNT. THUS TAKING ADVANTAGE OF MY IGNORANCE AND TRUST. THE REPRESENTATIVE CLAIMED THAT HE IS LOCATED IN SINGAPORE. HOWEVER UPON CHECKING, THERE WAS NO REGISTERED COMPANY AND THE OFFICE ADDRESS IS NON-EXISTENT. DELIBERATELY TRIED TO ESTABLISH FALSE IDENTITY BY CREATING WEB OF LIES.

I've been with the company for two years the only problem I've experienced is the clearing of my bank whenever I have a big withdrawal. Overall satisfied with the experience especially with the guidance of Shaun Rubio. God bless and more power