GUILTY Case# 2014-182 | simenkon vs

Based on the available evidence, do you believe that is guilty?

  • Guilty

    Votes: 58 96.7%
  • Not Guilty

    Votes: 2 3.3%

  • Total voters
  • Poll closed .


Original FPA Traders Court Submission:

I am submitting the case against:

My Case is: HOW I WAS SCAMMED BY YADIX FOR ~24500€ of profits


I am writing this piece because I was scammed by a forex broker called Yadix, which is a white label brokerage of Gallant Capital Markets Ltd. and it is regulated by the FSC, license#: SIBA/L/11/0964 (the license was issued to Gallant Capital Markets). They cancelled my profits of around 24 500€. I joined Yadix because I got the impression that Yadix is good for news trading strategies, which is my main speciality. I have dealt with different brokerages, but none have advertised them as being a safe-haven for automated traders, news traders, scalpers. Yadix goes out of its ways to let people know that they accept all kinds of traders, no matter the strategy, no matter the profits they make. I will illustrate this with some extracts from their webpage. I tried to present the evens that happened to me while trading with Yadix in a chronological order, so its easier to follow and see how blatant their actions are. The double horizontal line is intended for easier following of the story.


100% True STP Broker Model
No Dealing Desk, No Re-quotes or Re-pricing
No Scalping Restrictions
2. Ultra-Fast Order Execution
By using the very best execution technology such as the Equinix Financial Exchange, high spec VPS and leading liquidity providers, you can benefit from milliseconds forex order execution.
3. STP/ECN Trading
Direct Market Access protects your trading strategy from re-quotes, execution delays or manipulation. All orders are executed anonymously, automatically and with 100% transparency to the interbank forex markets.
4. Profitable Trading Welcomed
Yadix is a no dealing desk broker. Trade with the confidence that all profitable forex strategies are accepted and efficiently handled. Orders are matched to leading forex banks who are responsible for the settling of all winning trades.
5. No Trading Restrictions

Yadix welcomes profitable traders and systems to ensure that all clients can trade with full confidence. We understand that profitable traders traditionally find it difficult to find a suitable broker without strategy restrictions, withdrawal limitations and even exclusion. Our commitment is to deliver a stable environment and not to exclude, discriminate against and never to manipulation orders for any of our clients.

At Yadix, as we do not trade against clients, it is in our interest for our clients to trade successfully and make profits without any trading restrictions. This we believe is the future of honest and transparent forex trading.

The STP model guarantees no price or spread manipulation nor any conflict of interest. Your trade is opened and executed at the price displayed in your Yadix MT4 platform. A Market Maker can often delay the process to gain extra profit on the spread, this is called a re-quote. The delay comes from the time it takes for a dealing desk to review the order and decide on the risk level for the brokerage.

Unlike other STP brokers that utilise unreliable liquidity sources, Yadix ensures stable and competitive price feeds and issue free trading by aggregating feeds from top tier one liquidity providers and issue free trading that can easily handle the largest forex orders, even during the most demanding market conditions.

When trading with an STP/ECN broker, the prices displayed on the MT4 platform are not manipulated to suit the needs of the “dealing desk”, but are a true reflection of real market conditions and from leading FX banks acting as liquidity providers.

Yadix does not profit from clients losses unlike Dealing Desk/Market Makers that rely on clients’ losses to generate profits. This can lead to profitable traders, scalping strategies or automated trading tools to be restricted with minimum stop levels, time restrictions or even to be excluded from trading with dealing desk brokers.

No Trading Restrictions & Anonymous Trading
All trading strategies are always welcome at Yadix and will never be discriminated against. When trading using hedging and scalping strategies there are no restrictions or limitations. We are fully flexible to accept these strategies as we are an STP broker that does not take the opposing side on clients’ orders. Therefore, profitable trading strategies can truly benefit from trading with Yadix no conflict of interest policy.

I opened my account with Yadix on the 29th October 2014 and started to trade on friday, 31st October 2014. I deposited 2400€ and I made a decent profit of 591€ with the Canadian GDP news release and immediately after that I tried to withdraw the money to see if they let me withdraw my newly generated profit. It was processed and everything seemed fine. This was reassuring to me and Yadix gained more trust in my eyes. I decided to redeposit 2620€ to Yadix on November the 2nd 2014 to start trading again. From November 2nd 2014 to November 5th 2014 I made a profit of around 6567€. This is a pretty substantial sum of money so I decided to test Yadix´s willingness to pay out those profits once again. I tried to withdraw that money on Wednesday the 5th of November 2014, in the sum of 9187€. At first there were some problems in regards to paying withdrawal fees, since it was the second withdrawal in less than a week, but I agreed to pay the fees (Yadix told that withdrawals are free of charge to Skrill, but the problem arised when I tried to make two withdrawals withing a week, although no such restriction was mentiond on the website). A few hours later the money was on my Skrill account and being able to withdraw this amount of profits boosted my confidence in Yadix a lot. I was pretty sure at the time that I have finally found the broker that truly lives up to its own claims and is honest in its conducts. A few hours later I redeposited most of what I had withdrawn earlier so my account balance was roughly the same as before the withdrawal. I then continued my trading and by Friday my account balance was up to 12 367€. It was a busy week, because first week of the month is the time when a lot of the more important economic news releases take place. This Friday was also the monthly US labour department release of the Non-farm Payrolls number, one of the most important news releases each month, which produces a lot of volatility in the markets, and as a news trader, one of the most important releases for me as well. I decided deposit some more money to Yadix, before the Non-farm Payrolls news release, so I deposited another 1350€ to my account which took my balance up to 13 987€. After the Non-farm Payrolls trade my account balance was at 25 884€, at the highest level it had been with Yadix. Since the Non-farm Payrolls trade was so profitable and my account balance was pretty substantial I decided to withdraw 15884 € from my account, leaving it at 10 000€. I filed a withdrawal request from the Yadix website and started to wait until it is processed to my Skrill account. I knew that Yadix´s withdrawal requests were processed three times a day and the next shift of employees took care of the remaining unprocessed withdrawal requests, so I knew that the withdrawal should be on my Skrill account after a few hours. After waiting some time the withdrawal was still not processed and I went to the Yadix live support to ask if everything was okay with the withdrawal. I was told that the are some compliance procedures that need to be taken because of the substantial profits I had made, especially with my last Non-Farm payroll trade, which generated a profit of 12 107€. Furthermore, my pattern of several withdrawals and pretty much instant redeposits supposedly alerted the backoffice, so as mentioned, there were some compliance procedures that needed to be taken before that money could transfered to my Skrill account. I have all the chat transcripts, so this is the conversation I had with Yadix after deciding to withdraw a big amount of my profits I had made on friday the 7th of November 2014. Here is a screenshot of all of profitable trades and the name of the news releases I traded in chronological order showing how my account balance grew to the amount of 25 884€ (I excluded the 0.01 lot test trades and other non-relevant ones).

Canadian GDP 31.10.2014

Australia building approvals 3.11.2014

UK PMI manufacturing 3.11.2014

US ISM manufacturing 3.11.2014

UK construction PMI 4.11.2014

Canada trade balance 4.11.2014

New Zealand employment change 4.11.2014

Sweden industrial production 5.11.2014

UK PMI services 5.11.2014

US ADP employment change 5.11.2014

Australia employment change 6.11.2014

Canada building permits 6.112014

Canada Ivey PMI 6.11.2014

Norway industrial production manuf. 7.11.2014

US Non-farm payroll 7.11.2014

I had to merge all these trade screenshots into one picture and uploaded onto a 3rd party site, since FPA crashed while uploading this file. You will need to zoom in to see the full picture. You can see the corresponding trades and how my account balance grew over time.


I also uploaded the image via the attachment form, hopefully it was uploaded nicely.

Chat Transcript
Visitor: Bert
Operator: Support

Company: Support Chat
Started: 7-Nov-2014 9:43:40 AM
Finished: 7-Nov-2014 9:46:58 AM

9:43:40 AM: Bert:
Hey, sorry about rushing things...has the withdrawal processing started already?
9:43:40 AM:
Your request has been directed to our support team. Please wait for an operator to answer your call.
9:43:48 AM:
Call accepted by operator Support. Currently in room: Support, Bert.
9:43:54 AM: Support:
Welcome to Yadix live support. May I take your MT4 account number please?
9:44:17 AM: Bert:
9:44:41 AM: Support:
9:44:45 AM: Bert:
Hello again
9:44:56 AM: Support:
They will be done soon I am sure.
9:45:16 AM: Support:
I will ask back office the fees and will send via email too
9:45:35 AM: Bert:
okay...hopefully before the official workday is over here...I just have some places that close around half past 5 here...
9:45:43 AM: Bert:
have to visist*
9:45:46 AM: Bert:
9:45:47 AM: Bert:

9:45:52 AM: Bert:
anyways, thank you!
9:45:57 AM: Support:
understand, my pleasure
9:45:58 AM: Bert:
yadix is absolutely unreal broker
9:46:10 AM: Bert:
best broker hands down
9:46:15 AM: Bert:
take care
9:46:25 AM: Support:
I am happy to hear that

Chat Transcript
Visitor: Bert
Operator: Support

Company: Support Chat
Started: 7-Nov-2014 11:03:39 AM
Finished: 7-Nov-2014 11:34:31 AM

11:03:39 AM: Bert:

11:03:39 AM:
Your request has been directed to our support team. Please wait for an operator to answer your call.
11:03:49 AM:
Call accepted by operator Support. Currently in room: Bert, Support.
11:03:55 AM: Support:
Welcome to the Yadix live support. May I take your MT4 account number please?
11:04:10 AM: Bert:
11:04:14 AM: Bert:
Hello again
11:04:25 AM: Bert:
any time frames when the withdrawal could be processed?
11:04:32 AM: Bert:
it still hasn´t
11:04:33 AM: Bert:
11:04:35 AM: Support:
hello sir, let me check your account
11:04:37 AM: Bert:
11:06:11 AM: Support:
I can see that our complaints team would like to review your trading with our liquidity before they proceed with payment
11:06:21 AM: Bert:
11:06:23 AM: Bert:
what does that mean
11:06:32 AM: Bert:
what´s wrong?
11:07:19 AM: Support:
It means nothing at this stage, its normal procedure for making sure that the pricing you were executed , were executed well and that no un normal latency involve
11:07:22 AM: Support:
very simple
11:08:15 AM: Support:
due to the high profit or your orders and pattern of quick withdrawals, it alert our backoffice team
11:08:34 AM: Bert:
quick withdrawals because my last broker took away all of my profits
11:08:37 AM: Support:
please allow then complete proper review of your orders and allow us proceed
11:08:37 AM: Bert:
with some bs excuses
11:08:44 AM: Bert:
will it be done today?
11:08:58 AM: Bert:
I have basically all of my money that I have currently with you
11:09:01 AM: Bert:
11:09:05 AM: Support:
sure sir, if you were trading under normal market conditions, no issue
11:09:13 AM: Support:
we support profitable trading
11:09:23 AM: Bert:
it was the us non farm payroll release
11:09:27 AM: Support:
you saw it last few withdrawals
11:09:29 AM: Bert:
but thats not prohibited, right?
11:09:34 AM: Bert:
I did
11:10:07 AM: Support:
we need to make sure as STP broker that our liquidity execute same price as your orders
11:10:13 AM: Support:
is simple practice
11:10:16 AM: Bert:
11:10:19 AM: Bert:
but any time frames?
11:10:27 AM: Bert:
at least today?
11:10:42 AM: Support:
I hope so, but since we work with big banks
11:10:52 AM: Support:
it might take 1-3 bussiness days
11:11:06 AM: Bert:
....unbelievable, here we go again
11:11:11 AM: Support:
we will do our best to finalize today
11:11:13 AM: Bert:
just like my last broker
11:11:15 AM: Bert:
well you better
11:11:26 AM: Bert:
I am pretty pissed atm to be honest
11:11:39 AM: Support:
we are very honest broker
11:11:43 AM: Bert:
we´ll see
11:11:49 AM: Support:
11:11:51 AM: Bert:
they all say that until I want to withdraw my profits
11:11:56 AM: Bert:
but okay, thanks
11:11:59 AM: Bert:
11:12:03 AM: Support:
you are welcome
11:12:06 AM: Support:
bye now
11:16:16 AM: Bert:
are you still there?
11:16:28 AM: Support:
11:16:54 AM: Bert:
can you be totally honest here with me, what do you think is the probable outcome of this
11:17:13 AM: Bert:
I just had a deja vu, the same thing happened just a week ago
11:17:16 AM: Support:
I will explain first what we do
11:17:24 AM: Bert:
my last broker was very good until I wanted to withdraw profits
11:17:35 AM: Bert:
then the e-mails and compliance department stuff started to come
11:17:45 AM: Support:
its easy, if you let me
11:17:45 AM: Bert:
telling that this is impossible to make such profits etc
11:17:48 AM: Bert:
11:17:57 AM: Support:
everything is posible
11:18:04 AM: Bert:
I know, especially in forex
11:18:10 AM: Support:
to start with, its about skill and luck for sure
11:18:24 AM: Support:
we as STP broker we work with Liquidity
11:18:36 AM: Support:
they take the risk against clients
11:18:50 AM: Bert:
and we take risks against them
11:19:01 AM: Support:
as long as we work with bigger liquidity, we have more depth and flexsibility
11:19:15 AM: Bert:
just like they do, but the difference is that they might have billions of dollars and when they lose 5K to us, its nothing
11:19:27 AM: Bert:
when we lose 5k against them, it might be 50% of our assets
11:19:40 AM: Support:
for example no limits on orders, our policy and conditions are very good for clients
11:20:15 AM: Bert:
but its just unreal, how can there be no liquidity if the trade was executed and accepted by the LP?
11:20:18 AM: Bert:
its already in the past
11:20:25 AM: Bert:
meaning that there was liquidity at the time
11:20:47 AM: Support:
its not about the past, its about the fact that your orders need to be checked and verify with the LP
11:21:17 AM: Bert:
and now when they see "hmmm we lost too much on this trade, lets tell the broker who we provide liquidity to to cancel the trade because we don´t like to lose that much" is what I think
11:21:18 AM: Support:
to confirm that the prices that you were using are the correct
11:21:47 AM: Bert:
well whats the difference between my sentence and yours?
11:21:56 AM: Support:
its same
11:21:58 AM: Bert:
same thing, different way to serve this
11:22:10 AM: Support:
we are not against you, not at all
11:22:30 AM: Support:
we would like to confirm that all was done under true market conditions
11:22:46 AM: Support:
11:23:15 AM: Bert:
I know, but when LPs get mad and ask you to do something, you would rather listen to them than the one client...when LP threatens to stop providing liquidity to you, you lose a lot more than when one clients threatens to leave you
11:23:24 AM: Support:
and let me explain one more thing
11:23:30 AM: Support:
maybe the most important one
11:23:36 AM: Bert:
which is
11:23:58 AM: Support:
if your orders were not executed in true market price, and we will pay you, while the LP will not pay us
11:24:01 AM: Support:
who lost money?
11:24:09 AM: Support:
11:24:22 AM: Support:
we do not take risks, we do not trade against clients
11:24:38 AM: Support:
and good chance that no one whould even notice your activity
11:24:51 AM: Support:
but the pattern and the high amount
11:25:02 AM: Support:
high amount this time, is outstending
11:25:26 AM: Support:
and require quick investigation to confirm that all in order
11:25:38 AM: Support:
we have many profitable clients, you are not the only one
11:26:05 AM: Support:
but their pattern is different in regards to take money every day..and so on
11:26:27 AM: Support:
no need to be offended, please understand our responsibility here
11:26:32 AM: Bert:
I do
11:26:44 AM: Bert:
I understand all that and I also understand thats this pretty surely means that I won ´t get the money
11:26:48 AM: Support:
we are being responsible
11:27:13 AM: Bert:
you must understand that I just came from the same place a week ago, and the beginning at least starts to seem a lot like what happened to me
11:27:15 AM: Bert:
a week ago
11:27:16 AM: Support:
Why to make decisions before we have input
11:27:24 AM: Bert:
thats why I just can´t believe this atm
11:27:38 AM: Support:
I'm sorry to hear it
11:27:57 AM: Bert:
but hey whatever, its not like its up to me anyways any more
11:28:06 AM: Support:
but as true STP broker we are committed to truemarket conditions
11:28:37 AM: Support:
as long as trades were executed with no manipulation, and it can be proof, no issue
11:28:38 AM: Bert:
how long does the workday last today before all of you head home?
11:28:54 AM: Support:
Its Friday....
11:29:01 AM: Bert:
so I know until how long I will check my e-mail every 10 seconds
11:29:20 AM: Support:
+ we need input from 2 liquidity
11:29:29 AM: Support:
its not 10 minutes check
11:29:51 AM: Bert:
but how many hours until the department responsible for this heads home?
11:30:05 AM: Bert:
so I know if there is a chance for it to be done before the weekend
11:30:26 AM: Support:
they work next 8 hours, we have time
11:30:36 AM: Bert:
11:30:42 AM: Support:
but we need input of LPs
11:30:48 AM: Support:
we might get today as well
11:30:58 AM: Support:
you can follow up later on
11:30:59 AM: Bert:
well I´ll be waiting then
11:31:05 AM: Support:
11:31:39 AM: Bert:
but what is the possible reasoning when they decide to take away the profit?
11:32:05 AM: Support:
I do not know sir, no need to think negetive
11:32:10 AM: Support:
I suggest that you wait
11:32:21 AM: Support:
who was you other broker?
11:33:12 AM: Bert:
I would like to keep that to myself, but I can tell you that they were also located in the caribbean/central america
11:33:32 AM: Support:
11:34:24 AM: Bert:
11:34:27 AM: Bert:
thanks, bye

At this stage I was pretty sure that some of my profits were going to be taken, it was just a matter of how much. I was really irritated by this happening, because the same thing happened only a week ago, when all of my profits were taken by my last broker on some outrageous accusations, but thats another story for another time. I went to their chat support once again:

Chat Transcript
Visitor: Bert
Operator: Support

Company: Support Chat
Started: 7-Nov-2014 11:52:02 AM
Finished: 7-Nov-2014 11:58:15 AM

11:52:02 AM: Bert:
11:52:02 AM:
Your request has been directed to our support team. Please wait for an operator to answer your call.
11:52:05 AM:
Call accepted by operator Support. Currently in room: Bert, Support.
11:52:09 AM: Support:
Welcome to the Yadix live support. May I take your MT4 account number please?
11:52:09 AM: Bert:
One more thing
11:52:22 AM: Support:
tell me
11:52:22 AM: Bert:
the investigation is about my 12 000 trade today?
11:52:37 AM: Support:
all your trades so far
11:52:45 AM: Support:
and good chance it will be completed today
11:52:52 AM: Bert:
but what have the other ones to do with anything
11:52:53 AM: Support:
we will keep you updated
11:53:03 AM: Bert:
I withdrew my profits yesterday or the day before yestrday
11:53:06 AM: Bert:
and no problems
11:53:24 AM: Support:
yes you did withdraw
11:53:35 AM: Bert:
so how can they now suddenly be under srucitny
11:53:40 AM: Bert:
11:53:47 AM: Support:
but we still need to investigate your trades with LP
11:53:53 AM: Bert:
11:53:53 AM: Support:
nothing is suddenly
11:54:20 AM: Support:
due to your high amount of profit and pattern of taking immediately funds
11:54:39 AM: Support:
it's an alert to our risk and fraud team
11:55:10 AM: Support:
this alert lead to proper consolation process between the LP and our broker account
11:55:23 AM: Bert:
I have video recorded each and every one of my trades as well
11:55:34 AM: Bert:
so I have proof too that everything was done legally
11:55:39 AM: Support:
call it security process to make sure that orders were executed well
11:55:45 AM: Bert:
11:55:45 AM: Support:
very good
11:55:57 AM: Support:
we are not against you
11:56:01 AM: Bert:
I know
11:56:06 AM: Support:
we are protecting all parties involve
11:56:08 AM: Bert:
but LPs are always whining when they lose
11:56:12 AM: Support:
including outself
11:56:18 AM: Support:
I explain to you
11:56:28 AM: Bert:
yes I get it
11:56:36 AM: Bert:
but LPs are crying too much imo
11:56:47 AM: Bert:
they make millions per day, some of them at least
11:56:58 AM: Support:
if your orders executed in wrong price and liquidity does not know those pricses and if we pay you before we verify it
11:57:14 AM: Support:
we will lose 30k or what ever you withdrawing now
11:57:35 AM: Bert:
11:57:36 AM: Bert:
I understand
11:57:42 AM: Bert:
you protect your assets too
11:57:54 AM: Bert:
anyways, looking for the answer
11:57:57 AM: Bert:
thanks again
11:57:58 AM: Bert:
take care
11:58:08 AM: Support:
you too , bye now

Then I waited a few hours to discover that suddenly my Metatrader 4 account balance was completely different, as previously stated, it was 25884 € after the NFP trade and now it was 10 131€. Also the last two trades that I had executed had been altered. The entry prices were correct, but the exit price was changed so that the profits turned into losses. Since I video record absolutely every one of my trades that I take, I have a screenshot from the video of my trade which shows all the info about the trade and after I have an account statement that shows how the trades had been changed.
I traded the Norway Industrial Production news release in the morning of 5th November 2014. The following info was in my Metatrader 4 account history after the trade:

Order number: 47014404
Type: BUY
Size: 15.00 (lots)
Symbol: EURNOK
Order entry time: 2014.11.07 09:00:05
Entry price: 8.50188
Order exit time: 2014.11.07 09:00:10
Order exit price: 8.50729
Commission: -18.00 €
Profit: 953.89 €

This trade was changed as follows (I highlighted the changed trade info):
Order number: 47014404
Type: BUY
Size: 15.00 (lots)
Symbol: EURNOK
Order entry time: 2014.11.07 09:00:05
Entry price: 8.50188
Order exit time: 2014.11.07 09:00:10
Order exit price: 8.49668
Commission: -18.00 €
Profit: -916.86 €

Yadix claims that 8.49668 is my actual exit price at 2014.11.07 09:00:10. The price of EURNOK did not move down to that price level before 2014.11.07 09:00:23. The difference is 13 seconds! As mentioned before, I have a video of every recorded trade and I have also account statements which show the altered trades. I am willing to provide the videos if it is neccessary for the investigation to the regulatory bodies and to the wider audience as well if neccessary to show what kind of manipulation Yadix has done.

The second trade I made on Friday the 7th of November 2014 was the release of the Non-Farm Payroll numbers by the US labor department.
Order number: 47015393
Type: SELL
Size: 30.00 (lots)
Symbol: USDJPY
Order entry time: 2014.11.07 13:30:01
Entry price: 115.327
Order exit time: 2014.11.07 13:30:04
Order exit price: 114.751
Commission: -210 €
Profit: 12 107.79 €

This trade was changed as follows (I highlighted the changed trade info):
Order number: 47015393
Type: SELL
Size: 30.00 (lots)
Symbol: USDJPY
Order entry time: 2014.11.07 13:30:01
Entry price: 115.327
Order exit time: 2014.11.07 13:30:04
Order exit price: 115.410
Commission: -210 €
Profit: -1774.70 €

Yadix claims that 115.410 is my actual exit price and I exited the trade 15:30:04. The price did not move back to 115.410 until 15 minutes (!!!) after the trade, so around 15:45 it reached 115.410. Say what you will about the wrong price levels at the liquidity providers, but you can check every imaginable chart there is and all of them show that after 4 seconds (which Yadix approves as my exit time), the price was nowhere near to 115.410. That clearly shows a manipulation and they have not even thought it through so they just came up with random numbers so they can support their claims, although those numbers do not make any sense whatsoever. This is the following chat that took place after I saw that they had altered my trade history and taken my profit:

Chat Transcript
Visitor: Bert
Operator: Support

Company: Support Chat
Started: 7-Nov-2014 2:06:47 PM
Finished: 7-Nov-2014 2:10:35 PM

2:06:47 PM: Bert:
2:06:47 PM:
Your request has been directed to our support team. Please wait for an operator to answer your call.
2:06:49 PM:
Call accepted by operator Support. Currently in room: Bert, Support.
2:06:53 PM: Support:
Welcome to the Yadix live support. May I take your MT4 account number please?
2:07:08 PM: Bert:
Hello, is it possible that even if you will not get the answer today from the LP
2:07:18 PM: Bert:
that you send me an e-mail about it
2:07:29 PM: Bert:
I don´t want to refresh my e-mail forever
2:07:44 PM: Support:
Good evening sir, there is still no update.
2:08:16 PM: Bert:
2:08:17 PM: Support:
Here at support, there's nothing much we can do but wait for compliance to review and get back to us.
2:08:44 PM: Bert:
they have still 5 hours left today until the end of their workday?
2:09:22 PM: Support:
As soon as we get information sir, we will notify you immediately.
2:09:45 PM: Bert:
2:10:30 PM: Bert:
thank you
2:10:31 PM: Bert:

Its worth mentioning that they promised to notify me immediately after any changes, but they changed the trades and only a few hours later they sent me an e-mail about it.

Chat Transcript
Visitor: Bert
Operator: Support

Company: Support Chat
Started: 7-Nov-2014 3:42:14 PM
Finished: 7-Nov-2014 4:10:42 PM

3:42:14 PM: Bert:
Where is over half of my account balance and why has been my trade history altered?
3:42:14 PM:
Your request has been directed to our support team. Please wait for an operator to answer your call.
3:42:16 PM:
Call accepted by operator Support. Currently in room: Support.
3:42:20 PM: Support:
Welcome to the Yadix live support. May I take your MT4 account number please?
3:42:22 PM: Bert:
3:42:41 PM: Bert:
3:42:50 PM: Bert:
are you serious????
3:42:57 PM: Bert:
you took away 15000€ of my profits?
3:43:06 PM: Bert:
3:43:12 PM: Support:
One moment sir
3:43:57 PM: Support:
There were several trades that were filled at the wrong price at the liquidity providers and are being corrected - you will receive an update via email soon sir
3:44:31 PM: Support:
our compliance team will send us the details soon and we will update you
3:44:51 PM: Bert:
3:44:54 PM: Bert:
this will be a groundbreaking case
3:47:38 PM: Support:
you will receive the details soon by email
4:00:11 PM:
Support has left the conversation. Currently in room: Bert.

Then I received a following e-mail a few hours later:

Dear Mr. xxxxx

This email serves as notice that we are terminating our relationship with you, effective immediately, pursuant to Section G. Subsection 11 of the Customer Agreement. Your trading account(s) will be closed as of today 07.11.2014.

Our compliance team have discovered predatory trading practices on your account that takes advantage of technical flaws as opposed to the normal trading of the markets. The orders affected by the predatory trading have been corrected to the real market prices, please see below:

(here is a table showing the two trades that were changed)
Please login to the client area and request a withdrawal for the total funds in your account.

Should you wish to dispute our decision to terminate our relationship, you are entitled to exercise your right to arbitration at the International Centre for Dispute Resolution, pursuant to Section 5 of the Customer Agreement. Our regulator has been made fully aware of the situation and the actions taken.

If you have any questions, please contact our customer service at


Robert Taylor
Yadix Forex Broker

As you might have noticed, there was a sentence „Please login to the client area and request a withdrawal for the total funds in your account.“ At the time of this e-mail, my account balance was at 10 131 €. This sentence and this e-mail alltogether seemed as a final answer to me, at first I was shocked but then I was a little bit relieved to see that they had not taken all of my profits. Since they terminated my account, I was not able to login to request for a withdrawal, so I e-mailed and asked to enable my account again, but they had already gone home and it was Friday, so I had to wait until Monday. On Monday the 10th November 2014 when their chat support came online, I tried to get any information about my account and how could I make the withdrawal, but the live chat support said that the compliance team will start working later during the day and they will get to me with the details as soon as they have started working and processed everything.

Chat Transcript
Visitor: Bert
Operator: Support

Company: Support Chat
Started: 10-Nov-2014 1:51:54 AM
Finished: 10-Nov-2014 1:55:03 AM

1:51:54 AM: Bert:
Hello, my account was clsoed in the investigation on friday, but I was told to log in and withdraw the available funds on my account, but I can´t login on the home page..?
1:51:54 AM:
Your request has been directed to our support team. Please wait for an operator to answer your call.
1:52:01 AM:
Call accepted by operator Support. Currently in room: Support, Bert.
1:52:01 AM: Bert:
account number 854381
1:52:14 AM: Support:
Hello, one moment
1:52:16 AM: Bert:
1:52:47 AM: Support:
Hello sir
1:52:50 AM: Bert:
1:53:16 AM: Support:
Your client area will be enable later on today, and the withdrawal will be submitted as well today
1:53:29 AM: Bert:
will the withdrawal be submitted automatically?
1:53:32 AM: Support:
we will notify you as soon as our tech team will enable
1:53:58 AM: Support:
The withdrawal is submitted manually
1:54:05 AM: Support:
and will be submited today as well
1:54:15 AM: Bert:
ok, let me know when its enabled then
1:54:18 AM: Bert:
thank you!
1:54:19 AM: Support:
will do
1:54:32 AM: Support:
you are welcome
1:54:36 AM: Bert:
have a nice day!
1:54:43 AM: Support:
thanks sir

So I waited for hours and hours until and constantly checked my Metatrader 4 account balance to see if they had altered any more of my trades, although they very specifically told me that I can withdraw everything that is left in my account on Friday. In the evening I suddenly noticed that my account balance was down to 990€ and most of my trades had been cancelled, even the ones that had been executed prior to Friday and even before the Wednesday´s (5th November 2014) withdrawal. Then some time later my account balance went down to 965€, so they had changed something more, I do not know exactly what had been altered, since it was only 25€ and I had tens of trades in there. After this alteration I did not receive any e-mail whatsoever and the live chat support could not also tell me anything, since they do not know what the backoffice is doing. I was finally able to withdraw my funds of 965€. I then wrote a long letter saying that I will go public with all the info unless they return all of my money (and my fellow traders´s monies). They finally replied on friday, which was the deadline for returning the profits I had given them. This is what they replied:

Dear Mr. xxxxx,

Following our previous communication, this email serves as confirmation that we are terminating our relationship with you, effective immediately, pursuant to Section G. Subsection 11 of the Customer Agreement.

Our compliance team have discovered predatory trading practices on your account that takes advantage of technical flaws as opposed to the normal trading of the markets. By registering a trading account and agreeing to terms of trading, you have agreed to the normal trading of markets as highlighted in the Customer Agreement. The orders identified as benefiting from these predatory trading practices have been corrected following an audit between the compliance team and the liquidity providers and in accordance to Section G. Subsection 11 of the Customer Agreement.

The termination is not related to a trading strategy, but to taking advantage of technical flaws and not the normal trading of the markets. As an STP broker, all orders are executed to liquidity providers and because of this we welcome and support profitable trading strategies. We are happy to service many successful news traders and aggressive scalpers that trade the markets normally and do not take advantage of technical flaws.

The brand is powered by Gallant Capital Markets Ltd, a Financial Services Company, authorised and regulated by the FSC under the Securities and Investment Business Act, 2010 License#: SIBA/L/11/0964. This decision is final, should you wish to dispute our decision to terminate our relationship with you and liquidate your accounts, you are entitled to exercise your right to arbitration at the International Centre for Dispute Resolution, pursuant to Section 5 of the Customer Agreement.

We consider this matter closed. Any further communication should be addressed to our legal representative on the details below:

The attorney is Felix Shipkevich
Contact Us | Shipkevich PLLC


Robert Taylor

They did not say a word about how they altered more trades after the two trades they had altered a week before (the Norway and NFP trade). A week ago they told that I can withdraw the total funds in my account which where 10 131€ at the time, but after the first e-mail they suddenly changed all of my trades without even saying anything. They only replied 14.11.2014 because I had threatened them to go public, but even then they said nothing altering the trades that took place even before of my withdrawal of 9187€ on 5.11.2014 and after redepositing that money. This is the most outrageous about all this, is that I made a withdrawal of 9187€ on Wednesday the 5th of November 2014. This basically „secured“ all of my profits, because I then redeposited and this can be taken as a new deposit. So there is no way that they can alter the trades that took place before the withdrawal, yet they have done exactly that. Basically in addition to all the profits they had taken, they also took away most of my deposits, because there could have been a 1 hour gap between withdrawing and redepositing, or a 1 year gap between that, but those 9187€ I withdrawed and the sum I decided to redeposit in my eyes is basically "new money" or a new deposit, so how can they take that away, makes no sense to me. Most of the profitable trades have been altered at this point and given exit prices that do not make any sense, since the price levels at the time of the exit with those trades do not match at all and this can be verified by looking any chart with different MT4 brokers or even random websites that provide small enough time frames for currency charts. I can´t even begin to express my frustration and dissapointment in Yadix. I just traded the news, which is allowed by them. I have had no intention whatsoever to take advantage of any technical flaws or anything, I deny all accusations. They have not even cared enough to say what kind of technical flaws I supposedly have taken advantage of nor provided any proof whatsoever to support their claims. They only have shown a table with 2 trades that they altered, but they have not given any info on other trades that were altered, those were just changed by not telling anything. They have taken almost 25 000€ of profits from me and have said basically nothing in the process of doing so. They have manipulated and played a shady game all along, they advertise themselves as a true STP broker and safe haven for all kinds of scalpers, news traders, EA traders, etc. I want a full investigation of Yadix and their actions and I am looking to get back all of my profits that I earned while trading with yadix. There were 5 more people that were scammed besides be, but I believe that they will file their cases separately. All together we had something like 70 000€ of profits taken away by Yadix. As stated, I have recorded every single one of my trades and I have all the data showing how impudent Yadix´s actions have been and I can upload each and every trade video, if neccessary.

I attached a screenshot of my Skrill balance as well, showing my deposits and withdrawals from Yadix.

New thread in the Scam Alerts Folder:

Review is submitted by Bert on 11/18/14

The company was first contacted about the issue on 11/07/14 the last contact was on 11/18/14

Details: You can find those replies from the case. I have chat support extracts + two e-mails from Yadix. I really hope you can help me with this case, they have ruined my life as of late. I needed this money for different expenses and they have put me in a very difficult financial situation. I attached too screenshots proving my case, one is about my trades that I took and the other is from my Skrill account, showing my deposits and withdrawals. You can easily see how they have basically taken away my last deposit. I am in a group of traders (5 more people whose profits were taken away) who also opened accounts with Yadix, because they seemed like a decent broker and summa summarum we were forfeited in total around 70 000€ of profits, but they will file their cases and neccessary proof on their own I believe.

Company representatives' emails: Yadix support <>



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Yo AsstMod! Simenkon reported in his Scam Alerts thread that he invited Yadix to join the conversation a few days ago. When you have a chance, can you please send a formal invitation?


What now, Yadix has not replied to any of our invitations to join the discussion? I was wondering how is Gallant Capital Markets related to this issue? Because Yadix is their white label, I have heard that white labels have limited powers and more important stuff like security related issues, backoffice conducts are done by the prime brokerage itself, which would be Gallant Capital Markets...or is it in the sole discretion of the white label to delete profits etc?


Guys, let me remind you that Yadix has not even cared to answer in almost 2 weeks after a sent them the invitation to join the discussion. Then FPA sent the formal invitation too, but no reply to that either. What a scam...


There has been a development in the case, but this development makes things even more skewed and makes look Yadix only worse.

Dear Mr....,

Following the termination of your account, pursuant to Section G. Subsection 11 of the Customer Agreement, due to the predatory trading practices on your account that takes advantage of technical flaws as opposed to the normal trading of the markets.

To finalise this matter, we will be returning to you your total initial investment. As you have deposited € 13374 and withdrawn € 13246.60, the sum of € 127.38 is the available amount for you to withdraw . Please login to your account and request the withdrawal of € 127.38 via Skrill.

We have discussed the case with our attorney and according to the terms of the client agreement, you have agreed to rectify matters of dispute through the arbitration process. Therefore we will not submit to an online forum when a real solution has been made available to you. We would be happy to share the results of the arbitration hearing on the Forex Peace Army site if you are willing to consent. You are invited to proceed with this legal process and we are happy to provide you once again the contact details of our attorney.

Yours sincerely,

Robert Taylor
Yadix Forex Broker

Wow, just wow. The nerve....I have absolutely 100% solid proof of my skrill deposits and withdrawals that clearly show that the withdrawals of € 13246.60 were made before my LAST deposit. So that the deposit was actually stolen and kept by Yadix, although most of the redeposited money was made by trading with Yadix, but it does not matter, once they let me withdraw that money, its mine and when I decided to redeposit that withdrawn money, there is no way they could take that, whatever they say. I´m not even talking about the deleting of profits, its just taking my deposit, thats just thievery, no more, no less. I think this clearly shows what kind of understanding Yadix has about business ethics and the quality of services you get while trading with them. They have no idea what kind of an enemy they have made.