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Discuss YesFx.com.cy

General discussions of a financial company
Hey folks,
I had a job interview with a firm called YESFX LTD based in Cyprus (www.yesfx.com.cy) and they are interested in hiring me as a junior Prop trader. They asked me 4,000 euros for the training courses for learning their in house successful trading system. Do you think this company is legitimate or it's just another scam. I found some scam references about this company on the internet and I have no clue what to do. The terms and conditions that the company offers are as below:
50,000 euros live account
Minimum trade per day: 1
Maximum trade per day: 3
Minimum or Maximum position size per trade: 100.000 (1 lot)
Intraday positions: All positions must be closed before the end of the trading session.
Maximum daily loss: €900
 
So you pay €4k and hope that you qualify. If you don't qualify, I'm sure they'll be very happy to offer additional training (for additional money).

Assuming that anyone ever qualifies (which is a BIG assumption), they seem to have some very unusual rules - 1, 2, or 3 trades per day with NO regards to market conditions. Overtrading is an account killer, but if you have 3 good trades early in the day and then spot the trade setup of the month, do they really expect you to walk away? If markets are flat and there's no liquidity, do they really they expect you to place at least one trade that day? That's crazy.

Assume you can live with these crazy rules. Anyone can have a good month or even a great month, but overall, you'll be considered a GREAT trader in many circles if you can safely and steadily return 1% per month (that's a rate of return greater than Bernie Madhoff showed to his investors). So, you, the firm, and whatever hypothetical clients provided the cash get to divide up about €500 each month. How will you ever find time to spend all your new-found wealth?

Or, you could spend time and effort learning about forex trading for free here, and use that €4k both to buy anything else you need and to fund your own starting account.
 
I can assure you that this company IS NOT SCAM. I was working there and they pay if you earn.
 
Can you answer the questions I already posed?

Overtrading is an account killer, but if you have 3 good trades early in the day and then spot the trade setup of the month, do they really expect you to walk away? If markets are flat and there's no liquidity, do they really they expect you to place at least one trade that day?

Also, how long was it before they started providing you with funds to trade? How much did they provide you with, and what percent of the profits are you getting.
 
Instead of answering the questions, Leontas posted a link to another forums where he sells products as an affiliate. Spam Cat thinks that Leontas is probably nothing more than an affiliate of YesFx hoping to make some sales at the FPA.

Spam Cat thanks Leontas for volunteering to be cat food. Non nom nom.


NoSpamCat.jpg
 
I guess Leotas decided spamming was better than not being able to answer simple questions.
 
Hey folks,
I had a job interview with a firm called YESFX LTD based in Cyprus (www.yesfx.com.cy) and they are interested in hiring me as a junior Prop trader. They asked me 4,000 euros for the training courses for learning their in house successful trading system. Do you think this company is legitimate or it's just another scam. I found some scam references about this company on the internet and I have no clue what to do. The terms and conditions that the company offers are as below:
50,000 euros live account
Minimum trade per day: 1
Maximum trade per day: 3
Minimum or Maximum position size per trade: 100.000 (1 lot)
Intraday positions: All positions must be closed before the end of the trading session.
Maximum daily loss: €900

You had a job interview and they will be hiring you as a trader employee of this firm. Assuming that that is what you mean, why should they require you to pay for training you? It's crazy to think that they ask money from you for training you to be a trader employee of their company. Since you stated that you had a job interview, I assume that you are looking for a work to earn money....not to pay something that you are not really sure of.

Again since you will be a trader of employee of the company since you had a job interview with them, the money you will be trading should not be your money. It's the company "investor's" money. And why should be there a minimum and maximum trade per day? Real traders dont trade that way, if there's nothing to trade that day...well that's fine. What if there are more than 3 valid trade signal's that day according to your trading system, let's say 5 valid trading signals, will you just take only the 3 and let the 2 opportunity pass?
 
Hello Everyone,

I am an FX trader for over 6 years and YESFX LTD i can assure you guys they are 99.9% Scam. YESFX LTD SCAM.

Please be aware of this firm and they have a very bad communication that they won`t even talk or discuss about the First Fee of 1,450 Euro.

Their Manager Mr. Kyriakos Charilaou, He told me that he don`t have a time to waste !!!

Please look at my emails with them and you can figure it out how much they are a bad scammers.

YESFX LTD SCAM:

As I said I don’t want to waste my time. Good luck with that.

Best Regards,


Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director

yesfx outlook

22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus

( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail charilaou.k@yesfx.com.cy
? URL www.yesfx.com.cy

The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.

From: Bishra Haj [mailto:bishara89@mail.com]
Sent: Friday, May 06, 2016 12:13 PM
To: Kyriakos Charilaou
Subject: RE: RE: RE: RE: yesfx prop trader application

You already wasted my time and because you are acting now as an *******!!

I will make yesfx the best keyword in google for scams!!!!

When you write yesfx in google you will see the first keyword next to it " scam " i promise you that will happen within 2 weeks from now.


Such a bad attitude and you dont know how to write a proffessional email either.
You are down :). You still dont know how to handle a bad SEO and negative keywords... Also in arabic so your customers will loooove it :)))

Bye scammer


Sent from Outlook Mobile




On Fri, May 6, 2016 at 2:09 AM -0700, "Kyriakos Charilaou" <charilaou.k@yesfx.com.cy> wrote:

Thanks for this response. I don’t want to waste my time on this.

Best Regards,


Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director

yesfx outlook

22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus

( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail charilaou.k@yesfx.com.cy
? URL www.yesfx.com.cy

The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.

From: Bishra Haj [mailto:bishara89@mail.com]
Sent: Friday, May 06, 2016 12:03 PM
To: Kyriakos Charilaou
Subject: RE: RE: RE: RE: yesfx prop trader application

Dear kyriakos,

Please do cancel the whole appointment, after reading feedbacks about yesfx and the starting fee you request isnt acceptable at all.

Wish you a blessed day from Nazareth the city of jesus.

Kind regards,

Bishara

Sent from Outlook Mobile





On Fri, May 6, 2016 at 1:58 AM -0700, "Kyriakos Charilaou" <charilaou.k@yesfx.com.cy> wrote:

12 EET – check the link please. Now it’s almost 12 EET.

Dear Mr Bishara Haj,

Thank you for your response below. Your skype interview appointment for the position of the Remote FX Prop-trader at YESFX is set for Friday 6th of May at 12:00 (EET – Eastern European Time). Please check time link and make sure you appear on time.

My skype id is: YESFX_LTD

Please make sure that you have access to a PC (Desktop Computer) or laptop with a camera and microphone setting enabled since the interview will be a video call. Interviews CANNOT be conducted properly using mobile phones.

All candidates are required to show up on time for their skype interview, otherwise your application for this position might no longer being processed further.

PLEASE CONFIRM


Best Regards,


Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director

yesfx outlook

22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus

( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail charilaou.k@yesfx.com.cy
? URL www.yesfx.com.cy

The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.

From: Bishra Haj [mailto:bishara89@mail.com]
Sent: Friday, May 06, 2016 11:57 AM
To: Kyriakos Charilaou
Subject: RE: RE: RE: RE: yesfx prop trader application

Dear kyriakos,

The interview time which you mentioned must be at 12:00 EET but now its 10:56,

Your skype interview appointment for the position of the Remote FX Prop-trader at YESFX is set for Friday 6th of May at 12:00 (EET – Eastern European Time).


Kind regrads,

Bishara

Sent from Outlook Mobile






On Fri, May 6, 2016 at 1:54 AM -0700, "Kyriakos Charilaou" <charilaou.k@yesfx.com.cy> wrote:

Dear Mr Bishara Haj,

Your skype interview appointment for the position of the Remote FX Prop-trader at YESFX Ltd starts in 8 minutes from now. I cannot see you online on skype. Please add me on skype. My skype id is: YESFX_LTD

In case you do not show up on time your application will be automatically terminated.

Thanking you in advance for your prompt response.

Best Regards,


Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director

yesfx outlook

22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus

( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail charilaou.k@yesfx.com.cy
? URL www.yesfx.com.cy

The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.

From: bishara haj [mailto:bishara89@mail.com]
Sent: Thursday, May 05, 2016 11:33 AM
To: Kyriakos Charilaou
Subject: Re: RE: RE: RE: yesfx prop trader application

I do Confirm,

Thank you

Sent: Thursday, May 05, 2016 at 11:30 AM
From: "Kyriakos Charilaou" <charilaou.k@yesfx.com.cy>
To: "'bishara haj'" <bishara89@mail.com>
Subject: RE: RE: RE: yesfx prop trader application
Dear Mr Bishara Haj,

Thank you for your response below. Your skype interview appointment for the position of the Remote FX Prop-trader at YESFX is set for Friday 6th of May at 12:00 (EET – Eastern European Time). Please check time link and make sure you appear on time.

My skype id is: YESFX_LTD

Please make sure that you have access to a PC (Desktop Computer) or laptop with a camera and microphone setting enabled since the interview will be a video call. Interviews CANNOT be conducted properly using mobile phones.

All candidates are required to show up on time for their skype interview, otherwise your application for this position might no longer being processed further.

PLEASE CONFIRM


Best Regards,


Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director

yesfx outlook

22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus

( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail charilaou.k@yesfx.com.cy
? URL www.yesfx.com.cy

The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.

From: bishara haj [mailto:bishara89@mail.com]
Sent: Thursday, May 05, 2016 11:29 AM
To: Kyriakos Charilaou
Subject: Re: RE: RE: yesfx prop trader application

Hello,

I confirm, Currently i am at the office and i dont have a webcam but i can use the iPhone skype for video chat.

By the way, the fee payment is very affordable and this is not the case.


Kind Regards,

Bishara Haj

Skype: Bishara.Haj




Sent: Thursday, May 05, 2016 at 11:22 AM
From: "Kyriakos Charilaou" <charilaou.k@yesfx.com.cy>
To: "'bishara haj'" <bishara89@mail.com>
Subject: RE: RE: yesfx prop trader application
Dear Mr Bishara Haj,

ALL of your questions will be answered in the skype interview. Please confirm that you agree with our terms and conditions stated in the email below (including the entry fee payment of €1,450).

I don’t want to waste my time and your time here. If you believe that the entry fee is inappropriate or cannot be afforded that is widely respected and understood.

Looking forward to receive your response.

Best Regards,


Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director

yesfx outlook

22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus

( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail charilaou.k@yesfx.com.cy
? URL www.yesfx.com.cy

The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.

From: bishara haj [mailto:bishara89@mail.com]
Sent: Thursday, May 05, 2016 11:08 AM
To: Kyriakos Charilaou
Subject: Re: RE: yesfx prop trader application

Dear Mr. Kyriakos Charilaou,

First i would like to thank you for this wonderful opportunity to be one of YESFX traders team arround the globe.

I have actually read all the information you have sent me with the agreement, I have no doubt about your company and the high performance you require from the traders to show off the best picture of YESFX.
This is a good position to let me provide my trading skills and help to improve the performance of your trading floor to reach unexpected goals. In addition, I have been trading since 6 years at least and i have managed many heavy trading accounts and reached an impressive results. (Positions History can be provided)

After i have made a research on YESFX and found out many people are satisfied with your team, however some other has taken the first payment for the contract as a " risky " issue. Lets say I do have the prove that i am a skilled trader and i hope we can arrange a solution for this for our best.

I do have some questions i need to ask you before i take the interview and if we could arrange a call that will be great.


Kind Regards,

Bishara

Sent: Thursday, May 05, 2016 at 10:38 AM
From: "Kyriakos Charilaou" <charilaou.k@yesfx.com.cy>
To: "'bishara haj'" <bishara89@mail.com>
Subject: RE: yesfx prop trader application
Dear Mr Bishara Haj,

Thank you for submitting your CV and traders analysis template regarding the Prop Trader position with YESFX Ltd, the biggest Prop Trading House in Eastern Europe. YESFX Ltd in cooperation with PR Human Resource Consultants is in the pleasant position to offer you the opportunity to interview for the position of the Junior Prop Trader. Kindly notice that this is NOT an offer for this position since further assessments and tests will be conducted for evaluation during the interview.

We have reviewed your qualifications and we are prepared to offer you an interview. We kindly request you read the remaining of this email thoroughly before responding.

Please note the amount of time each trader devotes to the position is different. Therefore the position can be either part time or full time; and at the same time it can be combined with another career or school depending on the trader’s current schedule.

YESFX Ltd is pleased to offer you an interview for the Junior Prop-Trader with a YESFX individual trading account of €50,000. In order to proceed with the hiring process we need to complete an online Skype interview [Skype id YESFX_LTD]. If our Human Resources Department is satisfied with the interview you will receive further instructions. The position, if offered to you, can be combined with current employment or school. The interview will be arranged as soon as you respond to this email.
The position of Junior Prop Trader offers the following:
· A €50,000 live account [successful candidates will use their personal strategies combined with YESFX money management rules to trade this account]
· Access to YESFX Traders online community of professional prop traders. This will allow you to interact with your colleagues. The online community will offer online seminars and Q & A live chat sessions.
· Monthly income based on performance. You will receive 50% of all monthly gains.

Please be advised that we require you to utilize your own Trading System in combination with YESFX money management trading rules as seen below:

· Minimum trade per day: 1
· Maximum trade per day: 3
· Minimum or Maximum position size per trade: 100.000 (1 lot)
· Intraday positions: All positions must be closed before the end of the trading session.
· Maximum daily loss: €900
· If dropdown of 10% (€5000)occurs in the account, the trader will enter monitoring and we have the right to terminate the contract
· Instruments: Eurusd, gbpusd, audusd, eurgbp, usdcad, usdjpy, eurjpy, gbpjpy, euraud
· European and American Trading Sessions

You will have a chance to ask any questions regarding the above rules during the interview.
Successful candidates will be asked to provide the following information in order to proceed with the hiring process:
· A valid copy of your passport – in order to prepare the ‘Partnership Agreement’ (sample of the agreement, do not print, read only).
· A one-off payment of €1450 entry fee which will cover:

1. Legal Admission fees
2. Your own Execute Trader
3. Access to one on one chat sessions with our instructors
4. Access to the YESFX Traders online community [live webinars and forum]
5. Processing fees for all future withdrawals [does not include Bank Charges]

The entry fee is required upfront for the above reasons and cannot be requested to be deducted from future gains. Even though we have concluded certain candidates have a high chance of success our main priority is the viability of our international program. Since there is no guarantee that everyone we hire will be profitable, we need to cover legal costs upfront in order to keep the program alive for people internationally.

· Once you provide us with the above, we will then prepare the agreement and forward it to you for signing.

Once you start trading with YESFX Ltd you will be allowed to withdraw any profits generated from intraday FX-trading at the end of each month. For example, once your total amount of profits exceeds €800 your performance fee will be 50% thereof (that is €400).

Upon completion of the above steps you will be authorized to start trading for us within 48 hours if you are selected. Please note that the normal working hours for intraday FX-trading is from 09:00-19:00(unless otherwise specified) [EET – Eastern European Time]. Our trades are placed online through our software. We will provide links and further details once the Partnership Agreement is signed.

We kindly request that you respond within 48-hours upon receiving this email in order to schedule your online interview. In the event that you don’t, your application process will be terminated. For more information regarding this position you can visit our website at:

http://www.yesfx.com.cy/trader

Also, please note that I have attached a FAQs pdf for your convenience.

In case you have any further questions do not hesitate to contact us directly via email or to the numbers listed at the bottom of this email.

Follow us on LinkedIn, Twitter, YouTube and Facebook to learn more about us!


Best Regards,


Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director

yesfx outlook

22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus

( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail charilaou.k@yesfx.com.cy
? URL www.yesfx.com.cy

The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.

From: bishara haj [mailto:bishara89@mail.com]
Sent: Wednesday, May 04, 2016 10:27 AM
To: Kyriakos Charilaou
Subject: Re: yesfx prop trader application

Dear Mr. Kyriakos,

Thank you for the kind opportunity!

I have included the Analysis Template in this Email, Please have a look. I Hope the analysis you find it well, I do have experience in trading in Indices as well.

Kind Regards,

Bishara Haj



Sent: Wednesday, May 04, 2016 at 9:05 AM
From: "Kyriakos Charilaou" <charilaou.k@yesfx.com.cy>
To: bishara89@mail.com
Subject: yesfx prop trader application
Dear Mr Bishara Haj,

Thank you for your CV/application submission for the position of the Remote FX Prop-trader at YESFX.

Your profile skills seem to match the criteria we are looking for the position of the FX Prop-trader at YESFX.

However, in order for me to better assess your technical analysis and FX trading skills and in order to properly assess if you need training or not, I hereby attach a “Traders template” which you are required to use to perform the following:

1. Perform an intraday technical analysis (use 1-hour chart) on ANY FX pair you like

2. Clearly state your entry level for any long/short positions you recommend

3. State your stop loss and take profit levels for the position advised above

4. In no more than 5-6 lines briefly describe/comment on the strategy you have followed for above position recommended


Note: You have more probabilities to be invited for an interview if your trade analysis is profitable rather than resulting in a loss.


Best Regards,


Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director

yesfx outlook

22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus

( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail charilaou.k@yesfx.com.cy
? URL www.yesfx.com.cy

The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.


forex343;2287950 said:
Hi guys,

I have a question for you. I have an offer for a remote junior prop trader position from a firm based in Cyprus. The deal is:
50,000euros live account.
Minimum trade per day: 1
Maximum trade per day: 3
Minimum or Maximum position size per trade: 100.000 (1 lot)
Intraday positions: All positions must be closed before the end of the trading session.
Minimum Stop Loss per trade: 10pips
Minimum Take Profit per trade: 10pips
Maximum daily loss: €470

The thing is that firstly they told me that I have to pay a one-off payment of €575 entry fee, this will cover admission fees, processing fees for all future withdrawals (does not include Bank Charges) and also provides you with your own personal Executive Trader. And that there is a max ammount I can lose it total, which is 3,000. So if my account drops below 47,000 in any time they have the right to terminate me. They didn't ask about any trading record or something like that. They just saw my CV and got me an offer.

I think sth doesn't seem right. what do you think? Can I really see if the accout will be a demo or live as they claim? I think is might be scam. I really appreciate any help given.

Thanks


Hey folks,
I had a job interview with a firm called YESFX LTD based in Cyprus (www.yesfx.com.cy) and they are interested in hiring me as a junior Prop trader. They asked me 4,000 euros for the training courses for learning their in house successful trading system. Do you think this company is legitimate or it's just another scam. I found some scam references about this company on the internet and I have no clue what to do. The terms and conditions that the company offers are as below:
50,000 euros live account
Minimum trade per day: 1
Maximum trade per day: 3
Minimum or Maximum position size per trade: 100.000 (1 lot)
Intraday positions: All positions must be closed before the end of the trading session.
Maximum daily loss: €900
 
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