deceivedbyYTFX
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Hello,
I have been a YouTradeFX (= YouTrade Holdings Limited) client for 2 years using their service of "managed account".
Before to let one of their traders manage manually my account (without using an automatic / robot or Expert Adviser-based service), I gave them an oral (by phone) and written authorization (only by e-mail) to do so but I never signed a Power of Attorney (even if I asked repeatedly to their support department for one).
At the end (2 weeks ago) of the 2-years period and even after a change of trader (managing my managed account) due to many losses (trades closed with losses by the traders) and a continuous lack of communication and follow-up by my account managers (they had to change the manager because of other similar client claims !), the balance of my account is now 0 USD and they did not offer me explanations or solutions.
Along those years, they earned a lot of money as broker (through the spreads), trader (for thei commission on every trade opened/closed for me) and through their employees (commissions for the account manager when I made injections) and, contrarily, I never registered benefits (I mean a balance with a value higher than the one of my initial investment) and sent them messages and sometimes talked to them by phone in order to give them the order to be very cautious with my account but also to be active in order to see one day benefits.
Their support (and strategy services) department gave me bad recommendations and only excuses and illusions, when I contacted it.
I feel now completely deceived by YouTradeFX and I want to sue them for the illegal opening and the "not reasonable" management (bad fixing or lack of use of stop losses and lack of communication for example) of a managed account without the previous signature (by both parties) of a Power of Attorney (in which the risks, commissions, and other data about the agreement / authorization had to be documented). Do you think it is possible ?
Even if they told me they were regulated by FSA (FSC and ASIC) and there was no problem to open an account for me, I am not sure if they were allowed to offer their services and open an account (managed or not) for Belgian or Spanish residents like me.
So, it would be also interesting to investigate such YTFX permits/regulations for Belgium and Spain, and if YouTardeFX was really not allowed to offer its services in these countries, they also could be sued for having doing so with me for 2 years.
I will be waiting for comments / recommandations / actions from you in order to recover (if it is possible) my losses with YouTradeFX through a legal claim.
I thank you beforehand for your support.
I have been a YouTradeFX (= YouTrade Holdings Limited) client for 2 years using their service of "managed account".
Before to let one of their traders manage manually my account (without using an automatic / robot or Expert Adviser-based service), I gave them an oral (by phone) and written authorization (only by e-mail) to do so but I never signed a Power of Attorney (even if I asked repeatedly to their support department for one).
At the end (2 weeks ago) of the 2-years period and even after a change of trader (managing my managed account) due to many losses (trades closed with losses by the traders) and a continuous lack of communication and follow-up by my account managers (they had to change the manager because of other similar client claims !), the balance of my account is now 0 USD and they did not offer me explanations or solutions.
Along those years, they earned a lot of money as broker (through the spreads), trader (for thei commission on every trade opened/closed for me) and through their employees (commissions for the account manager when I made injections) and, contrarily, I never registered benefits (I mean a balance with a value higher than the one of my initial investment) and sent them messages and sometimes talked to them by phone in order to give them the order to be very cautious with my account but also to be active in order to see one day benefits.
Their support (and strategy services) department gave me bad recommendations and only excuses and illusions, when I contacted it.
I feel now completely deceived by YouTradeFX and I want to sue them for the illegal opening and the "not reasonable" management (bad fixing or lack of use of stop losses and lack of communication for example) of a managed account without the previous signature (by both parties) of a Power of Attorney (in which the risks, commissions, and other data about the agreement / authorization had to be documented). Do you think it is possible ?
Even if they told me they were regulated by FSA (FSC and ASIC) and there was no problem to open an account for me, I am not sure if they were allowed to offer their services and open an account (managed or not) for Belgian or Spanish residents like me.
So, it would be also interesting to investigate such YTFX permits/regulations for Belgium and Spain, and if YouTardeFX was really not allowed to offer its services in these countries, they also could be sued for having doing so with me for 2 years.
I will be waiting for comments / recommandations / actions from you in order to recover (if it is possible) my losses with YouTradeFX through a legal claim.
I thank you beforehand for your support.
