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YouTradeFx.com Review

Overall Rating: SCAM Scam Investigation >>
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Total Reviews: 172
Last Updated: 2014-07-06
Special Notes:

As if all the other problems were not bad enough, YouTradeFx's mail server appears to be blocking the emails of many clients who are owed money.  The FPA is aware of email issues with YouTradeFx's servers that have been happening for several years.  The fact that clients could lose all ability to check on missing and blocked withdrawals is a very good reason for no one to open an account with YouTradeFx.

SCAM CONFIRMATION

January 20, 2014, SCAM CONFIRMATION:  Based on the available evidence, the FPA now considers YouTradeFx to be a SCAM.  YouTradeFx is now blacklisted by the FPA.

The FPA recommends AGAINST opening an account with any branch of YouTradeFx or any company associated with it.  If you have an account there, the FPA recommends that you attempt to withdraw your funds immediately. 

SCAM CONFIRMATION

ATTENTION:  If you are a YouTradeFx client and your withdrawal request has been ignored for more than one week, please go ahead and leave a 1 star review.  Then CLICK HERE for more instructions.

Related websites include ytfx.com.au and zorotrade.com

 

December 2013:  Currently, the only regulator for the You Trade Group is ASIC.  Clients need to be registered with YouTradeFx.com.au or specifically request ASIC regulation when signing up via YouTrade.com.

March 2013:  Numerous fake positive reviews detected and deleted.  There was a long-term campaign to buy fake 4 and 5 star reviews from non-customers to alter YouTradeFx's overall rating.  The campaign appears to have been begun by Shimon Harel, a former employee of YouTradeFx.  After his departure a freelance subcontractor, named Shivam Sharma, continued to operate the program on his own.  It appears that Shivam's work was not known to anyone besides Shimon.  The FPA thanks YouTradeFx employees George Becker and Micheal Mimouri for assisting in gathering information and putting a stop to this unethical practice.

September 2013:  The license for International Youtrade Investments MA Ltd in Mauritius has been suspended.  Click Here to verify.

December 2011:  The FPA is currently working with 4xangels.com to examine what the connections are and are not between YouTradeFx and the StartForex, which received an FPA Scam Finding.   July 2013 UPDATE:  The YouTradeFx representative working on this case never was able to provide the information needed by 4xangels.  December 2013 Update:  There has been significant progress towards resolving the original issue with StartForex.  If this reaches a successful conclusion, any possible relationship between YouTradeFx and StartForex will be irrelevant.  February 2014 Update:  There has been a major step forward in resolving the original StartForex Scam Finding. April 2014 Update:  All progress has been halted.  YouTradeFx is not responding to emails from the FPA or the client on this issue.
 

Click here to join live discussion of YouTradeFx.com on our forum
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court COURT file case Cases Open - 0 | Not Guilty - 0 | Guilty - 5   reviews REVIEWS submit review
ID Filed Case Verdict
2014-019 2014-01-11 GUILTY
2014-018 2014-01-10 RESOLVED
2014-015 2014-01-09 RESOLVED
2014-013 2014-01-08 GUILTY
2014-012 2014-01-08 RESOLVED
2014-011 2014-01-07 GUILTY
2014-010 2014-01-07 RESOLVED
2014-009 2014-01-07 RESOLVED
2014-008 2014-01-06 RESOLVED
2014-007 2014-01-06 RESOLVED
2014-006 2014-01-06 RESOLVED
2014-005 2014-01-06 RESOLVED
2014-003 2014-01-04 RESOLVED
2014-002 2014-01-03 RESOLVED
2013-178 2013-12-30 RESOLVED
2013-177 2013-12-28 GUILTY
2013-176 2013-12-26 RESOLVED
2013-174 2013-12-23 RESOLVED
2013-171 2013-12-19 RESOLVED
2013-166 2013-12-05 GUILTY
2013-160 2013-11-19 RESOLVED
2013-157 2013-11-15 RESOLVED
2013-150 2013-11-14 RESOLVED

FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2010-08-09
Review: We haven't tried a forex trading account with YouTradeFx.com. If you've traded forex with this broker, please leave a review here.

rakesh kumar, haryana, India

Rating:
Date of Post:2014-07-02
Review: I have an account with youtradefx.com. I requested for a withdraw a $1300 of my fund on first of july 2014 but my request was not approved till 2nd july. For the same i drop a mail to my account manager. I was running a single deal of 10000 size in my account in sell position only. On afternoon i logged in my account and saw many deals of size 30000 and 40000 and running in my account which was put on 23, 26, 27 june and these types of deals were increasing one by one in opposite direction of the market. as soon as saw this i mail to my account manager and compliance team and support team also. but nobody reply my mails till now. This scam did by their technical team only with my account. my account balance became zero. now anyone replying my emails and not on telephone. Do not work with youtradefx.com

Hendrik, Struisbaai, South Africa

Rating:
Date of Post:2014-06-20
Review: I have tried to withdraw my funds from my account for the past 8 days without success. I have tried to contact the account manager Daniel Colin( not his real name) and Jonathan Logger without any response. Daniel Colin at one stage kept on trying to get more funds from me, i refused because i discovered that their platform could not be trusted. That is why i decided to withdraw could anyone advise me what to do. It is not a large sum of money, it is the principle.

HUSSAIN ALKHABBAZ, , Saudi Arabia

Rating:
Date of Post:2014-06-06
Review: I opened an account no 201798 and deposited 17600 then i decided to make a withdrawal of 15323 $ withdrawal request 2125689. It was on 13/05/2014 until now I got nothing and they keep saying that they send the money but the problem with my bank!!!.

marlo wagdy, egypt, Egypt

Rating:
Date of Post:2014-05-16
Review: I strongly advise do not join it I am trying to withdraw with my money and I got no response from the company even from my account manager and finally they disabled my account!!!. Please help me FPA!!

Ali, Iran, Iran, Islamic Republic of

Rating:
Date of Post:2014-04-30
Review: I opened an account with YouTradeFX broker, after one month I had a withdrawal request of $700
But they didn't transfer money for me!
They don't reply to my e-mails.
They disabled my account and now I don't know what to do???!!!
My account number: 197008
My withdrawal request date: 21/03/2014

2014-04-16 1 Star I opened an account in YouTradeFX broker and deposit $510 about two months ago.

I have a withdrawal request from last three weeks!
But it didn't do until now!
Their live chat isn't responding!!!

I don't know why don't they perform my withdrawal request???
I really need my money!

My account number: 197008
My reference number (withdrawal request no) is: 2866284
My withdrawal request date: 21/03/2014
My withdrawal amount: $692.65
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Octavian Petrescu, Iasi, Romania

Rating:
Date of Post:2014-04-24
Review: I was customer of the YouTradeFX (MT4 live account: 195429), with 5511 USD in my account, without any credit or promotion from the company and all transactions closed. I requested on the company website to withdraw my money (March 11, 2014).
My account manager (Daniel Colin – real name Cocirlea), from YT Global Management SRL Romania – the Romanian representative of the YouTradeFX, said me that he solicited the financial department of YouTradeFX to send my money and I must wait the decision.
After two weeks with many discussions, I contacted Mr. Jonathan Logger – Public relations Manager of the YouTradeFX (JonathanL@ytfx.com) for explanations. He has written me: “As you probably know 95% of all forex broker are confirmed as scam in the peaceArmy forum because of false complaints of former clients….Regarding your withdrawal request – As I understand - it is stalling for some reason.”
I must say that I don’t strongly agree with his statements for many reasons. It is necessary too much space to explain, but I have proofs.
My withdrawal has been processed lastly after I announced all persons involved many times and contacted some institutions:
1. “Yesterday (April 7, 2014) I have written again to Mr. Eli Ben David and Mr. Daniel Colin (Cocirlea) that if I will not receive my money until Friday, April 11, 2014 (one month after my withdrawal request) my specialized lawyer will file a criminal complaint at the Directorate for Investigating Organized Crime and Terorism – DIICOT, against them for the offenses according to Art. 367 (Formation of an organized criminal group), Art. 238 (Infraction of faith) and Art. 244 (Fraud) – New Romanian Criminal Code.”
2. The same info with all details I sent to YouTradeFX Australia - http://www.ytfx.com.au/, which is only company with Licence (398528 ASIC).
3. I prepared a complaint for the Romanian Financial Supervision Authority (ASF) to verify the legality of the YT Global Management SRL activity in this field.
4. I prepared a complaint, also, against their Cyprus bank account 00011160 CY 442033183333, for my Erste-BCR bank according to the received instructions from my bank and I informed YTFX and the Romanian company about this situation (the account can be banned).
5. I informed ForexPeaceArmy about all my actions.

Finally, I have received in my bank accout my money on April 12, 2014 (one month after my confirmed request by their e-mail – too long time for a simple and legitimate operation).

Bill from ForexPeaceArmy written to me: “Please go ahead and post about the successful resolution in the Scam Alerts Folder. Other traders from Romania could probably benefit from your experience.”
Also, Mr. Jonathan Logger written to me: “Dear Sir, Attached a prove of payment that I got from our financial dep. Administrator – Please update your documentation and forum as needed.”

I have described above my very strange and unhappy adventure with YouTradeFX and YT Global Management SRL Romania accordingly and, also, my actions taken.
My money went into their account instantly and for them it was necessary one month to send my money, my YTFX live account beeing without any problem.
After this very unpleasant experience my strong advice for all traders is: Stay away from YouTradeFX and YT Global Management SRL.
I consumed too many time, efforts and some money to solve a very simple situation and to receive my funds.
It was a very traumatic experience and all traders must know that to be customer only for licensed forex companies according to: ”ESMA warns investors against dealing with unauthorised firms and individuals offering foreign exchange investments”:

https://www.esma.europa.eu/news/Investing-foreign-exchange-forex?t=326&o=home

I am thinking that all investors can learn from my experience how can proceed legally, but it is better to stay away/to avoid unauthorized firms and individuals offering foreign exchange investments as the ESMA recommends.
Good luck!

2014-04-02 1 Star Dear Readers/Traders,

I have the YouTradeFX account balance $5511.24 and all transactions closed, and I am having many troubles with the requested withdrawals of my money (March 11, 2014).
I didn't receive the promised e-mails for confirmation and my account manager (Daniel Colin - a pseudonym - the company uses this procedure) doesn't know when I will receive my money. The company support has not responded anything until today.

I written today to Mr. Jonathan Logger, as follows:
"I am an YouTradeFX client and I have trouble withdrawing my funds from my live account (my withdrawal request has been ignored for more 1 week, from 2014.03.11).
My account manager is Mr. Daniel (so called Colin) - Romania
Please, let me know how to do.

I am already prepared to file a criminal complaint to my national authorities and international authorities, because at the current YouTradeFX address (from website) - "788-790 Finchley Road, London" are registered some companies with absolutely undeniable evidence of criminal activity (Laundering of monetary instruments).

Also, I have found contradictory info about address:
- YouTradeFX website Email: support@ytfx.com Live chat: Phone: +44-203-3183333 Fax: +44-207-7859329 Address: Youtrade Capital Markets Limited, 12 The Shrubberies, George Lane, London Country: United Kingdom 2013-12-03
- YouTradeFX Headquartered In United Kingdom Regulated By ASIC (Australia), FSA (UK) Us Customers No Phone +44 203 3183333 Fax +44 207 7859329 Address 35 New Broad Street, George Lane, London, EC2M 1NH, 2014-02-10"

Because I have a written and signed document from the company (Letter of authorization and Power of Attorney to perform actions and provide instructions in my account) and all the necessary proofs I will file a criminal complaint to my national and international authorities and I will request a legal interdiction of this company activity in my country (YouTradeFX has a website in the Romanian languge and a local representative - an illegal company as I have found recently, YT Global Management SRL).

Unfortunatelly I didn't verified the company profile before, because of one particular situation.

All Traders, be very carefully with YouTradeFX (your gain, our goal).
YouTradeFX is a REAL SCAM and I have many proofs about this and I sent to them - support and to my account manager!

Thank you ForexPeaceArmy!!!

Bendini Aurelio, Brescia, Italy

Rating:
Date of Post:2014-04-23
Review: I have an account open in YouTradeFX.
My deposit is 4152 $.

I requested to withdraw my money 2 months and half ago.
My account manager Angelo Benedetti continues to say me he is soliciting his administration to send my bank transfer but nothing happens.

I really need my money now and I am tired to wait !!!

My account number: 150962
My withdrawal request reference number : 2237218
My withdrawal request date: 11/02/2014
My withdrawal amount: 4140 $

Tiago Falcao, Porto, Portugal

Rating:
Date of Post:2014-04-21
Review: YoutradeFX is a big fake company.
After a very profitable season, they've blocked our account (MAM account) in such way that we couldn't trade. All open positions remained open and the market was moving the other way. This went for an entire week. Finaly, when they've "unlock" the account there was a margin call , of course. We lost about 75% of total capital (invested+profits).
The remaining $$$ is still in YTFX. They just don't process the wire transfer. It's been over an year.
We presented a complaint to the FCA and we were re-directed to the financial-ombudsman in the uk wich lead to nothing.
It happens that there are two Youtrade FX. One "Youtrade ltd" and other "Youtrade Capital", one is regulated by the FCA and the other isn't.
Guess where all the clients have the money? Yup, on the one that's in Israel. We were lured to a suposely regulated broker just to be ripped-off.
Please avoid YoutradeFX at all costs.

All the best.

Tiago

Davide Calogero, Torino, Italy

Rating: No Rating
Date of Post:2014-04-12
Review: I asked the company youtradeFX a bank transfer over three weeks ago, but my money is still in its bank.
My account number in www.youtradefx.com is 194621. My withdrawal request reference number is 2805068. Angelo Benedetti is my Account Manager.
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