Youtradefx fraud and scam, closed out $125,000 account because of unreal spreads that never occurred

etmisr

Recruit
Messages
7
I opened an account with youtradefx and had some bad trades that I take responsibility for. My account was low and I kept depositing more funds because I was not gonna have my account closed out. On Christmas Eve close, my margin level was perfect and everything was good I was surprised that on Christmas Day when the market opened even though my margin level should have increased,my account was closed out. Can you believe that the spread they charged me reached over 70 pips, when it never went over 3 pips! They automatically closed my account. This broker is a fraud and they took my money. No way I was gonna let an account of $125,000 get closed out like that. They never respond to me and they have horrible customer service. They said that the account was closed out as their explanation.
 

BigT1

Sergeant Major
Messages
951
Welcome new member etmisr,
.
If you are OK with it, please post your MT4 Detailed Statement for us to analyze.
You can remove your personally identifiable info from it first.
If you need guidance on how to do this, just ask.
This will help us compare your trades with market norms, and begin to hold your broker to market standards.
.
Anthony Ingrassia, CTA
NFA ID#: 0278164
 

etmisr

Recruit
Messages
7
Hi, can you tell me how I can get this statement? I have all my trades from my broker account? Will this work. Thanks for your reply, I really hope you can help me with this.
 

BigT1

Sergeant Major
Messages
951
Hello etmisr,
.
Contact me directly on Skype: anthony.ingrassia Northport, NY USA.
Once we are in contact I can guide you privately.
If you do not have Skype yet, get it by going the skype.com and install the application.
.
AI
 

Irving Verzijl

Private, 1st Class
Messages
43
Hello etmisr,

It is not uncommon for spreads to balloon at the closing or opening of the market. (In mt4 you can use F10 to get a popup screen with the current spreads). My advise would be to stay out of the markets at these times.

To see your account history use ctrl+T then go to tab "account history"
 

Pharaoh

Colonel
Messages
19,995
I would expect low liquidity and wide spreads on Christmas Day, but 70 pips seems excessive.
 

etmisr

Recruit
Messages
7
Can someone help refer me to a lawyer? Also, looking for anyone who has had or has a problem with YOUTRADEFX!! THEY ARE A FRAUD COMPANY OF THIEVES!!!

If you would like to join in on a lawsuit to youtradefx, please contact me. The more people the better obviously!! Look forward to hearing from you guys soon! Also need help finding a good forex lawyer.
 
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