Based on 5 verified reports, this firm maintains a 20% trust rating within the Saving Traders community.
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"Dont use pelican apps or their brokers for trading. Its a scam. They do copy trading and take out trades against the market, huge draw downs and will blow your account quickly. Watch out for their advertised traders like the Holy Grail etc. They will blow your account so quickly after a few positive trades. Watch their trades - they will take blatant bearish trades when all indicators show a glaring bull trend and vice versa. They will claim trading is risky, they dont give you copy settings (you are on your own to figure that out) and deny irresponsible trading. Trades like that will not get you past a prop firm basic test. Its almost like their main traders have a drinking problem on some days or they just deliberately want to blow accounts. In the last account that I exited, the Holy Grail trader took out 87 positions against the glaring market direction. Thereafter, he took the loss and closed the trades only to do the same thing again in a minute later i.e. too quickly for you to stop the trading. Second time it was another 67 positions again doing it against the glaring market trend and closed positions at huge losses until the third time when the market changed direction. If I didnt watch it all happen in real time, I would not have believed how calous and irresponsible Pelican can be with patron's money. Its a huge scam !"
"pelicantrading.io seems a regulated party. But via another trader they sent me to put the money on Raze Markets so they could copy-link it to the other broker. Now is seems Raze Markets is a complete scam and afterwards we can see that is was already a scam at the time pelicantrading.io gave this advice to me (end of 2024). While they do see that now they will do nothing and does not take any responsibility. Not only for me with 20K but also at least for 4 others for at least 10K per person. I completely lost my interest and fun in trading forex now. Shame on you Pelicantrading.io"
"Total scammers are this look out. Also read my update it says it all There system will always break down and let you lose as much as possible. Forex is dangerous yes but if you put max drawdown and it is deleted everytime then it has nothing to do with dangerous. Also losing trades dont close somehow. login errors so you can change anything. not possible to stop copying someone. This company is an huge scam. The owners need to be in jail! It maybe takes an while but the faster it is shut down the better just like funded company mff. they do the same. UPDATE 26-10-2023. Pelican is active in letting revieuws be deleted. I dont know if they pay trustpilot or use other ways. Fact is I know revieuws from other traders have been deleted also 1 star. The fact this company is doing it says enough. They should be in Jail!"
"Don't use it. Signals don't show real equity drawdown, some prominent signals there have over 50% equity drawdown! Pelican app only shows balance drawdown, which is not enough! It's a trick to get your money and lose it. Furthermore, Android app automatically logs you out after some period of time. Why?! Why log out while trades are still executing on your live account? I only lost money while copying top recommended signals there, it supposed to make profit. Uninstalling!"
"I downloaded your avasocial app, and in 24 hours I lost 100 euros. There were a number of suspicious trades. Don't use that app. It is not reliable."
