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How long to get a withdrawal from ForexYard? - Resolved

Discussion in 'Scam Alerts' started by Chris Pagano, Dec 17, 2009.

  1. Chris Pagano

    Chris Pagano Recruit

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    Should I wait before opening a scam report up on forexyard? I have initiated a withdraw for 300 dollars with them. They asked me for copys of credit cards i used with them over a year ago. I sent them in except for one because I no longer have the card I have sent in the info and now have not heard back. Its been about 8 days with my request
     
  2. Pharaoh

    Pharaoh Colonel

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    Contact them again. Use live chat if its available and also email. If they don't get in touch with you, then you get in touch with them.
     
  3. Chris Pagano

    Chris Pagano Recruit

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    Check this out. I cant believe this BS. They are giving me the run around. I got this email. replyed with the proper paperwork and have heard nothing back. The credit cards they are requesting to see a copy of were used over a year ago

    We have received your documents and I would like to expedite the withdrawal. However, I have been notified by the back office that you used another 3 cards to deposit. They end in the following numbers 3019,2689,3416.
    As part of our agreement with American card companies and banks we will need copies of those cards as well to complete the withdrawal.
    Regards,

    Daniel Wellington, Director of English Sales


    --------------------------------------------------------------
    Please wait for a site operator to respond.

    You are now chatting with 'Russell'

    Russell: Hello. How may I assist you?

    Chris: Hello, what is the status of my withdraw, it has been 96 hous

    Russell: I see that your withdrawal has not been processed yet. I will contact your account manager, Daniel, to help expedite the process

    Chris: I emailed him yesterday and he does not respond back

    Russell: I'll follow up with him

    Chris: ok

    Chris: when should I be expecting to hear from him?

    Russell: less than 24 hours

    Chris: well I would like the withdraw before the end of the week. The email I got says 96 hours anything longer seems unacceptable to me

    Chris: I really like you trading platform also. I would hate to stop trading with you guys for non payment

    Russell: yes, it would be shame

    Chris: do you have a direct phone line for Daniel? I have never heard of him till just now

    Russell: 212-796-6939

    Russell: Though he's out of the office at this time

    Chris: Oh hes in Manhattan? I am about 15 mins out. Does he have an address? I can just stop by his office

    Russell: We're located in Cyprus

    Chris: but 212-796-6939 is a Manhattan phone number

    Russell: yes it is

    Chris: so you just have a phone in ny and are located in Cyprus?

    Russell: yes

    Russell: we have phone numbers in the countries of our largest markets

    Russell: Forex Trading company contact

    Chris: what time does Daniel start work? It is very important he emails me back

    Russell: I'm unaware

    Chris: what? you don't know what time your colleague works?

    Chat session has been terminated by the site operator.
    --------------------------------------------------------------------------
     
  4. Chris Pagano

    Chris Pagano Recruit

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    They contacted me this morning and told me they have processed and will expedite my withdraw. I should have it Monday. So for now it looks like its going to work out. I will keep you posted
     
  5. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    FPA Investigator Gerard has been in touch with the President of ForexYard on your behalf.

    Things would have been resolved sooner, but Daniel was unable to contact you by phone.

    Please do not yell scam unless a company ignores contact attempts for several days. Not every employee will have full information on your issue, so some patience may be required.
     
  6. cowmadagan

    cowmadagan Sergeant

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    I'd have to say that I'm with the Asst. Admin. on that one...I really think after extensive reading that about 70% of people on this site really need to be a little more patient, and including some of the 70% I'd say that 90% appear to be trading with money they can't actually afford to lose.
    Forex trading is educated guessing and if you check out many critics of trading systems they'll tell you to look at the trading system's success in periods outside of the advertisement. Often (critics say...I've never done it myself) the trading system has made 20% or something in the years they advertise, but lose in the years previous to the reporting period. Many of us like to believe that we can get hints from our intuitions and look to the market to affirm these beliefs.
    Yes, technical indicators have been noticed for a reason. Yes, sometimes we do guess perfectly.
    That said, the Venetian in Macau's cheapest Blackjack table is almost $30USD per hand.
    In blackjack you can rely on the dealer busting fairly frequently (ranging from an ace up probability of 11% to a five up of 42.9%), and that's why it's the least profitable game in a casino, but if you're playing with a hundred dollars and you go by the same rules as the dealer you'll be out of money within minutes.
    That means, even with multi-billion dollar casinos being built, if you're undercapitalized and have a run of bad luck (you will) the money's gone.
    Don't risk money that will cost you your house, vehicle, relationship, respect of your family, or your feeling of self-worth. Many of us have a fragile enough sense of self-worth that we don't need the leverage of...erm...leverage.
    I try to talk everyone I can out of forex...if only any asset would actually maintain its buying power.
     
  7. cowmadagan

    cowmadagan Sergeant

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    Another tip...when dealing with technical analysis, only bet on big moves rather than 'I think I can make a profit on this move' moves. Do what the casino does and say to yourself, "If I'm setting my self up to potentially have a loss of X, then it's only really worth it if I reasonably see the likelihood of profiting 2X or 3X."
    This is risk-to-potential-profit ratio being called 'reasonable' is basically impossible if you're trying to make a profit off of 30pips.
     
  8. ernest8fingers

    ernest8fingers Master Sergeant

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    The Assistant Mod is right in theory. Unfortunately (and this site shares some responsibility in this) Forex is so rife with criminal behavior, its hard not to favor the "I've been screwed over" scenario 1st. hope it works out - let us know - and dont give them unlimited time either.
     
  9. ermer magbanua

    ermer magbanua Private, 1st Class

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    Thats was right. Donot nvets the moeny you cant afford to loose. This brokers is realy not into making you rich but rather make you poor. but there are brokers also who plays fare. I commend them.
     
  10. Chris Pagano

    Chris Pagano Recruit

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    Since dec 11th, So far I have received 141.50 of my withdraw of 300 dollars.

    What amazes me is they deposit your money almost instantly than its a fight to withdraw any of it. Its a constant battle...

    AsstModerator I was not yelling scam, rather I was asking how long before I should wait to log a complaint.
     

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