I really have to review about this firm after almost 2 months with them. At first I was excited about Instant Funding (IF) of how many promotions and competition they have. However, after a few accounts with this firm I have already confirmed there misleading, false advertising and failed product. Here is a few points to note:
- Swing trading was a free option. Later, they changed it to +20% add on without reducing the price.
- No commission was advertised as Most popular as soon as it went live, and SET AS DEFAULT.
- Spread on RAW is PUBLIC and already HUGE like 1pips on EUR/USD. And on NO COMMISSION it is even WORSE and it is NOT PUBLIC. SUPPORT only sent link for RAW. On their website there was only RAW SPREAD displayed and support claimed that the SPREAD ON NO COMISSION was public way long before they launched but did not give a public link or clarify, instead they sent me a screenshot to check RAW SPREAD ? FYI, Spread on XAUUSD was 40 points on NO-COM, GU was 16-26points not including slippage ( included would make you lose out another 10-20points. Thats 30-40 points spread in total)
- SLIPPAGE IS HUGE, and it occurs on every occasions, in every type of orders : limit, market, stoploss, take profit. Support claimed that the occurence can be position or negative but what I experience is all negative for all my order. I.e Limit buy would be filled at higher price, stoploss for sell would be filled at higher price, take profit for sell would be filled at higher price. Meaning ? We would lose out from 0.5 -2 pips per trade. I forgot the mentioned but Slippage would rage from 0.1 to 1pip. However, the most frequent slippage I had was 0.5-1 pip.
- The explanation for slippage was not adequate and professional. For slippage to appear, this has to be a) problem from the broker not filling the order in time b) the market is volatile. But mine occured on normal, no big move days.
- KYC was the main issue, as long as I use 2 networks (mobile and wifi) , they assume I used VPN(when you changed country from one to another), even when the Ips are in the same country, but provided no evidence, only acccusation, so it took me a while to check it myself which IP was used when I first access the account and done it. Support was lacking , not supportive and only make assumption of VPN usage. Solved in OVER A WEEK!
- Also DONOT TRUST COMMUNITY MANAGER, they can provide information that sometimes misleading then tell you to go to email support. They really have limited information and donot hold accountable for their advice.
I do believe they will claim
otherwise, but beware of aforementioned points before trying them out.