To All potential clients of Eightcap I would like to retract my review as a satisfactory finalization has occurred regarding my case with AFCA against Eightcap. The dispute is now resolved and the case between myself and Eightcap and AFCA has closed Thankyou Mike Frochter
Jan 7, 2019 - 1 Star I am writing this to WARN any prospective users to Keep well away from Eightcap Pty Ltd. DO NOT USE EIGHTCAP – Can’t Trust Them, Keep far away from them. I have had accounts with Eightcap Australia for 1 and half years and also recommended around 20 people to use them as well. On 22nd Oct 2018 they say a bad tick happened at midnight on their graphs relating to EURNZD currency pair and the price dropped 3000 points at Eightcap but did not drop on any other brokers world wide, Only Eightcap, which I have proof with over 10 other brokers pricing including Saxobank. My personal account numbers are 713069 and 713070. Because of this Fake manipulated price error it caused all accounts to go into margin call and then totally wiped out. Losses are over $570,000 and currently have a claim with AFCA Australian Financial Complaints Authority Case number 600785. Not counting loss of profit for the past 3 months on top of that as well. I received emails along with everyone else saying they openly admit the error and accounts will be fixed within 2 days. That was nearly 3 months ago and they have ignored any other requests to rectify the accounts like they promised. Eightcap representative Lynn Guo in compliance department has given many excuses trying to say anything to get out of repaying the amount they owe including blaming liquidity providers for bad pricing data but they are still responsible to their clients. They are licenced and regulated with ASIC (Australian Securities & Investments Commission) which I am hoping ASIC will investigate for the NON Compliance. I will be putting a complaint to ASIC but right now I am waiting for AFCA investigation and their meeting with Ombudsman. I will do an update with the progress of this complaint. I welcome anyone to contact me anytime for more information on +61 400 921 777. Thankyou Mike F.
SCAM!, FRAUD, RIP OFF, KEEP AWAY, You will lose everything
False Promises, Lies, Fake money back guarantee, Huge losses
wont return emails
only received 1 email asking for another month payment after they wiped out my account in full.
they said don't worry just add more money to get the loss back
they state on web site money back guarantee if they don't make a profit
I have requested many times for refund as my account only lasted 2 weeks before wiping out, definite loss not profit but they wont answer emails.
Put a dispute through paypal trying to get subscription $100 USD back
Don't deal with these crooks, You will lose whole account.
Mar 11, 2017 - 1 Star SCAM!, FRAUD, RIP OFF, KEEP AWAY,
Do NOT deal with these crooks, I just lost my full account $12,000 after paying them the $100 US or $137 AUD.
The first week the balance went up but I very worried about drawdown as half of my account was in drawdown already and I emailed them with my concern,
this is their reply.
Don,t worry about DrawDown , trades will be in profit soon , we try best to keep DrawDown Low , its Rare case , Normally DrawDown don,t Exceed 10% and Trades close in profit .
Your Lot size is Correct , Its Totally Normal & no need to change any thing , and don,t worry , Please wait till Monday and everything will be fine.
I said The lot sizes seems way too large for the account and then this week the whole total account was wiped out in full from margin call.
No response from emails. I lost everything in 2 weeks.
Keep away from these crooks. It looks great at beginning but account will get wiped as extremely bad money management on their side, It just takes time before all trades will be stopped out by margin call.
Very Good EA with the right platform. Highly recommended
Hi Guys, I want to say sorry for the negative feedback regarding the Lion EA
I did have many losses at the beginning but I think it could also be caused mainly by the Platform I was using, (Not wanting to mention the Name).
I did actually get a lot of support and help from the owner of Lion Ea and he gave very fast service to any emails I sent him.
It is working now and making profits slowly and steadily.
I think the spreads make a big difference to the profits.
It is up $100 now over the past 2 weeks.
I changed forex providers 3 times and the owner sent new EA with new account number very fast even after I complained so much.
I want to say sorry to him and thank Lion for the excellent service.
I am happy to pay the fee for the EA and look forward to good profits in the future
Feb 25, 2017 - 1 Star I also bought the Lion Ea based on great backtesting results shown on internet
I paid $137 US or $194 Australian
I have followed the instructions exactly from supplier and has just lost money on live account since installing
I would definitely NOT recommend anyone to purchase this EA
even on backtesting it always loses money
I asked for a refund and supplier says he doesn't give free demos
Don't lose your money for this Rubbish