GUILTY Case# 2014-182 | simenkon vs yadix.com

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

  • Guilty

    Votes: 58 96.7%
  • Not Guilty

    Votes: 2 3.3%

  • Total voters
    60
  • Poll closed .

Yadix

Yadix Representative
Messages
6
Dear Community,

Firstly, as you are aware Yadix is a true STP broker that has built a strong reputation in the industry for providing transparent and ethical services to its clients. We would like to highlight that Yadix since its establishment (four years) has a clean record in forums with no outstanding complaints, this is no coincidence and indicates a honest and transparent service. On the contrary, the client states through his communication that he was excluded recently from other STP brokers. Is it coincidence? Why were those cases were not disclosed? Is it a pattern?

As explained in communications with the client, our compliance team discovered predatory trading practices that takes advantage of technical flaws as opposed to the normal trading of the markets. As an STP broker we welcome and support profitable trading strategies, however, we are not prepared to support trading styles that manipulates real market pricing and feeds.

Legally , clients have agreed to rectify matters of dispute through the arbitration process, this process will allow a proper court to collect and disclose all evidence from the broker, liquidity provider, the client and regulator. We will be happy to share the results of the arbitration hearing on the Forex Peace Army site.

We would like to clarify that this is not a simple case of slippage or poor execution where we can access the server log and present facts, but instead it's a more complex case that involves details and facts from the liquidity providers that we cannot legally present due to non-disclosure agreements in place.

Action taken so far:
1) Our compliance team discovered predatory trading practices that takes advantage of technical flaws as opposed to the normal trading of the markets
2) We have sent termination of agreement to the client and provide him explanation and contact details of our attorney
3) We have returned the initial investment to the client
4) We've invited the client on multiple occasions to proceed with this legal process and dispute through the arbitration to disclose the case
5) We will be happy to share the results of the arbitration hearing on the Forex Peace Army site

Once again, we invite the client to proceed with legal actions through the arbitration process. Following that, the full facts of this case will be added to this thread and the truth will prevail. As a broker, we refuse to be forced into a situation of blackmail on a public forum when we cannot legally present facts to defend ourselves and when there is a real solution in place.

Please rest assured that Yadix is not ignoring this case and is taking it seriously, we are in constant communication with FPA. Moreover, the case requires the steps of proper legal intervention so the full details of the case can be disclosed and resolved in the most objective way for the client, broker and liquidity provider.

Best Regards

George Miller
 

Bill Tyson

Private
Messages
11
Could Yadix explain what they mean by "predatory trading practices that takes advantage of technical flaws"
I will give them 2 days to respond before i vote
Bill
 

simenkon

Private
Messages
29
Yadix has not presented not even ONE piece of evidence to back their claims, even in private just to me. I, on the other hand, have all the evidence in the world to show that I have done absolutely nothing wrong and have just traded the news and not "engaged in predatory trading practices" or whatever ridiculous accusations they have come up with. They are just an absolute scam. Please everyone, read the story and you can see for yourself. Lets change the way forex brokerages operate and close this bucketshop down.
 

Elves

Recruit
Messages
1
They are all like that with news traders. Why promise to accept any trading method? It's so annoying.
 

simenkon

Private
Messages
29
Dear Community,

Firstly, as you are aware Yadix is a true STP broker that has built a strong reputation in the industry for providing transparent and ethical services to its clients. We would like to highlight that Yadix since its establishment (four years) has a clean record in forums with no outstanding complaints, this is no coincidence and indicates a honest and transparent service. On the contrary, the client states through his communication that he was excluded recently from other STP brokers. Is it coincidence? Why were those cases were not disclosed? Is it a pattern?

1. What I have heard and what I also mentioned in my story, I know people that claim Yadix scammed them for almost 100 000€.
2. I only said that my last broker removed my profits and that has happened only once. So there are no "other brokers" and there is no pattern and in fact, that other case will be published after I have dealt with this Yadix crap.


As explained in communications with the client, our compliance team discovered predatory trading practices that takes advantage of technical flaws as opposed to the normal trading of the markets. As an STP broker we welcome and support profitable trading strategies, however, we are not prepared to support trading styles that manipulates real market pricing and feeds.

3. As I mentioned in my last post, they have not presented a single piece of evidence to support their claims. Btw, did you notice that on their website, in their chat transcripts and also their posts on the web, their every other sentence is "we are honest and true STP broker" ? If this was the case, why is it neccessary to highlight that in every sentence? I don´t see any big and honest brokers saying in every second sentence that "we are very honest and good".
4. Manipulated real market pricing and feeds, what a load of rubbish. Just traded the news, thats all.

2) We have sent termination of agreement to the client and provide him explanation and contact details of our attorney
3) We have returned the initial investment to the client

5.Wow, another horrible skewing of facts. The explanation showed no proof whatsoever, just basically said that "we are taking your money because we want to" and in the first e-mail they said that I can withdraw that 10 131€ which was on my account at the time of the letter and it clearly indicated I can withdraw that. But after the weekend also those profits were removed without saying anything and only after extensive e-mailing from my side they cared to even tell that they took that money too.
6. As you can see from my story, they have stolen my second deposit, although it consisted of the profits I had made with Yadix, but I had already withdrawn those profits and since I saw that they let me withdraw profits, I thought: "hey, this seems legit, if they let me withdraw my profits, it should be safe to keep trading with them and hence I decided to redeposit those profits I had made with them". What a terrible mistake, I should have kept that money when I had the chance.

Please rest assured that Yadix is not ignoring this case and is taking it seriously, we are in constant communication with FPA.

7.This is the first time they cared to answer in the public at all and they did it only when they saw that I am backing my threats of making this case public. It shows that they thought its possible to get away with such theft.
 

cicciobello

Private, 1st Class
Messages
68
Hey having similar experience with etoro as they preformed manipulation on my trader with no authorization and stop my withdrawn pretty much the same way as they did with you .I had several Deja vu's reading your post and I am totally sympathetic to you situation and fro that reason you got my vote.

Guilty !!!
 

lexi28

Corporal
Messages
72
wow, that was a loooooong chat. bottom line: GUILTY FRAUDS!!!! no other way to see this, objective or subjective, i see no way they are not guilty. they refuse to provide hard evidence about the so called PREDATORY TRADING: this should be clearly defined on their agreement page or terms and conditions. once they see a bloke is making money they invent this useless term and with that stupid statement wipe your account clean. God have mercy on all traders. clearly from the chat, they have no clue how to defend their stance. it seems it is ABNORMAL in their eyes for traders to make a profit. when you make a loss, they cross their legs and take a cup of tea, smiling to the bank.

sue them, protest, issue scam alerts, go to all forum raise awareness on them everywhere, AND MOST IMPORTANTLY TAG EVERY POST YOU MAKE WITH THEIR NAME AND WORDS LIKE SCAM, FRAUD AND CHEATS. when anyone doing his due diligence findings types their name in google.com your posts will come up. if someone had done so for titantrade, against whom i filed a case also, i would have been more discreet.

the verdict is: GUUUUUIIILLLTTTTY.!!!!!!!!
 
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