Discuss YesFx.com.cy

[reveiwmaster77]

I will definitely keep you posted. if you like we could take this offline.

To Whom, this may concern
Do not waste your time and money for the funded trader of 50k equity, 3 trades a day max with a fixed lot position with 100k, there are many fault's with their business, thus include you do not get a physical trade software which you can manage the execution of the order, the intra day crap is not good for Forex which runs 24/7 from Mon-Friday. while placing an entry orders, you have to type it physically in to an go to meeting window to an execution trader on the other end - point being if he doesn't see your order you will get a late fill on the price that you don't want. Their broker is crap with variable spread plus the commissions on top. Support for training do not exist, And to really top it off your not even managing a 50k account, because you get a trading number for your trades when it executed to keep track of if your buying or selling, they have 2 accounts of 50k 1 for buying 1 for selling.
If an investor said to you here's 1 million, but you can only risk 10k would you take it? of course not because they don't understand the profit potential of money management of 1% of the equity.
DO NOT WASTE TIME AND MONEY WITH THESE BANDITS.

 

[airwalk]

Yes I do agree with the comments stated here. I have just recently been accepted through a skype interview by Kyriakos. There are a few points that made me rejected going for it. It is a scam. No doubt about it. Just not in the normal way of scam where you throw your money into the deep sea. They do have actual systems and people running the show. I hope my analysis below helps you make a right decision:

1) With the limits (as quoted by yesfx to protect us traders), for example, if you trade all 5 days 3 trades each, that will be a total of 60 trades. If you have a 100% hit rate of 20bps each trade, then this account will make alittle sense for you. You get 6k euros, with a nett of 4550 euros after deducting the fees. That being said, if you are that good, trading with your own money will make more sense. You will just need 10k for 1 lot and you get the full 12k euros.

2) If you look at huge historical drops, when brexit happens, the biggest one day drop is from 148 to 136. If you are douche enough to hold the full position, you should be looking at 12k yen losses in a day for 1 lot. We have a 50k euro account. The maths dont seem to tally. It feels more like Kyriakos is protecting himself.

3) So, if you happen to go overseas for 2 weeks without internet connectivity, your out. If you have a open trade and a sudden emergency pops up and you are not able to close your trade on time, your out. If you do one wrong calculation and breach the maximum daily loss, your out. NO NEGOTIATION. and the limits are crazily small. Profitable traders will know that certain swings are unavoidable and we just need to have enough funds to sit it out.

4) I doubt the skill of Kyriakos. He keeps insisting on looking at the one hour charts when it is obvious that we can only do day trading as we cannot hold positions over night. I question the motive and reason behind it. Linking point 2, if he is good enough, he doesn't have to set such tight limitations.

5) With all these, the probable upside to it is that you can put this in your resume if you are keen on joining other proprietary trading firm as a full time trader in the future. That being said, you have to be top notch to have a good track record.

Cheers.

 

[Pharaoh]

I think most people would be better off learning to trade independently and use the left over money to fund a live account to show their skills.

I'd rather see a successful live account at a well respected and well-regulated broker than a "I trained with XYZ company and followed their bizarre rules to the letter" on a resume.