RESOLVED Case# 2014-003 | dpsahoo vs youtradefx.com

[dpsahoo]

Original FPA Traders Court Submission:

I am submitting the case against: www.youtradefx.com

My Case is: Hello , i am Durga Prasad Sahoo from India .

my trading account no in youtradefx.com is 149027 . i had opened it on 20th dec 2012 and deposited 1000 usd through skrill on 12th jan 2013 . then they added 50% bonus i.e 500 usd in this account . i was trading and communication with the company was nice .

I have not withdraw any single dollar from my account till today also. But from last 2 months , they have disabled my account without any reason. I am trying to contact the account manager , the indian office , dealing room and georgeb@ytfx.com also but no answer from there.

Everyday they are sending me the market analysis .but, what can i do with these as my account is disable .now i want only my 1000 usd back.

so i request FPA , please take a necessary action against YOUTRADEFX.COM and help me in getting my investment back.

To strong my case, i have attached the youtradefx.com account details , deposit details and send money confirmation.
thank you..

New thread in the Scam Alerts Folder:

• https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/31144-youtradefx-com-scam.html
  

Review is submitted by Durga Prasad Sahoo on 12/17/13

The company was first contacted about the issue on 12/02/13 the last contact was on 12/10/13

Details: no replies and no comments from the company.

Company representatives' emails: Support Team<support@ytfx.com>
Dealing Room<dealingroom@ytfx.com>
George Becker<GeorgeB@ytfx.com>

 

[Dermolikesprofit]

And another guilty vote, I think it would be better if there was a list of genuine and safe brokerages listed on forexpeacearmy than to have to weed out all the scammers and loose money in the process. I would not trust any brokerage offering all kinds of bonuses and shiny objects to entice people in.

 

[dbrawner]

Dermo has a good idea but the problem is with the multitudes of regulators. If FPA published a list of "safe" brokers, they may be construed as offering advise or colluding with one or more "favorite" brokers. Either could pose a big problem for FPA especially if a broker on the list turns out to be a scam. What would the members say then if they choose a broker from the "FPA SAFE LIST"?

The CFTC publishes a listing of FX Brokers by capitalization. (404 Page Not Found - CFTC) At least this is a good start to find solvent brokers who are least likely to be scamming the public. Not a guarantee; but better than believing the glitz and glitter of marketing slicks and being enticed by "freebies" and "bonuses".

A new trader (and old traders) must keep in mind that brokers are in business to make money. In spite of their marketing glitter, they don't care if you win or lose. Proof of this in in the language of their terms and conditions; and the fist full of other account documents you sign to trade with them.

Caveat Emptor (Buyer Beware) and Cui Bono (to whose benefit or advantage) apply to all dealings with FX Brokers.

 

[saliya]

yes,ytfx are cheaters theyve cheated all my money

 

[dpsahoo]

Thank you George for releasing my payment..i got them....thank u fpa and fellow members....

 

[Alonedevils]

Guilty.
I Hope You Can Get Your Money Back Dpsahoo ...