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Youtradefx - Resolved

Discussion in 'Resolved Issues' started by pcguy007, Jun 17, 2011.

  1. pcguy007

    pcguy007 Recruit

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    Moderation Note: The FPA is happy to see that this issue has been successfully resolved. We wish to thank Michael Mimouni for his efforts to fix the issues reported by pcguy007.

    This broker is a total scam, please stay away from them.
    I opened my account and funded it with $100 to test them and their spreads and execution.
    I got constant re-quotes and data spikes for no reason.
    I decided to contact my account manager and request my account balance to be withdrawn.
    They wont process my withdrawl and wont tell me when or if i will ever get my money back.

    They told me i have to wait for my account manager to process my request and that she is on a business trip and they have no eta when my withdrawl will be processed.

    I have been trying to get my money for a month now.

    I've sent multiple emails, chatted multiple times and called multiple times.
    I get the same response you will have to wait and they cannot help me.

    I don't believe that this is a real broker and my money is gone.
     
    #1 pcguy007, Jun 17, 2011
    Last edited: Jun 17, 2011
  2. ABDUL GHAFOOR

    ABDUL GHAFOOR Corporal

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    i agree with you this is a bunch of three or four bad Arabic guys one of them is Mutafa forget you 100 usd and keep away from them
     
  3. Scott Shuttleworth

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    sounds like another scam.

    +1 to testing a broker with small amounts of money.

    You should also make some profit, then see if they give that back too.
     
  4. Laurie Gold

    Laurie Gold Corporal

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    Have a Youtradefx account

    I have a Youtradefx account and last thursday they deleted my profit ($1050.00) on a trade I made. I am trying to get to the bottom of it but the only thing I have been told so far was that the trade was made "scalping during a news announcement, which is illegal". I have requested documentation to support their claim but have not yet received it, although in fairness, that was only on Friday morning. However, not only am I distrubed about the deletion of the profit, but to compound the problem, Youtrade did not even contact me to let me know there was an issue with the trade (did they think I wouldn't notice?). I will update as the situation unfolds.
     
  5. Sylvie O.

    Sylvie O. Sergeant

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    Hi pcguy007,:)

    You can make a complaint to FSC of Mauritus:

    FSC | MAURITIUS

    Youtradefx is registered under the name:

    International Youtrade Investments MA Ltd. Company No.: 097392 C1/GBL; Category 1 Global Business, License № C110008678

    Fxprimus support (broker from Mauritus) wrote:

    http://www.forexpeacearmy.com/public/review/www.fxprimus.com

    ''FSC has revoked licenses of quite a few Forex brokers in the past 6 months, and we applaud them for keeping a watchful eye on all Mauritius licensed brokers[''/I]


    Hi Laurie,

    I hope your issue will be resolved to your satisfaction.
     
    #5 Sylvie O., Jul 12, 2011
    Last edited: Jul 12, 2011
  6. Laurie Gold

    Laurie Gold Corporal

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    update

    On Monday I put in 2 withdrawal requests. the first for the undisputed balance of my account and a second for the $1,050.00 profit that was deleted. Neither my request for documentation or the withdrawal request has been honored so far.

    Clearly I can't trade with a broker who deletes profit, especially without notice.

    Thanks Sylvie for your support. I see you won your case with Intelfx, were you able to get your money back from them?
     
  7. Sylvie O.

    Sylvie O. Sergeant

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    No, I wasn't able to get my money back from them. I don't thing I will ever get it back. Thanks for your concern.

    Now I'm with TradingPoint (trustworthy broker) and I'm about to open an account with Deltastock.
     
  8. Laurie Gold

    Laurie Gold Corporal

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    Update

    Just a quick update.

    I have been contacted by Michael Mimouni of Youtrade to help resolve my issue and although nothing of substance has yet to take place, I am encouraged and feel it only fair to let the FPA and it's membership know, that Youtrade is looking to resolve my issue.
     
  9. Laurie Gold

    Laurie Gold Corporal

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    situation resolved

    I must say there is certainly something positive to be said about a company that contact's you in reference to a problem, conducts an investigation, provides you with their "complete" findings (as well as working through the weekend) to help resolve that problem.

    Youtradefx is such a company. As stated in my earlier post, I was contacted by Michael Mimouni of Youtradefx, who did a great job collecting and reviewing the information about my trade and resolving it to my benefit and satisfaction. Moreover, because of Michael's effort's, I feel confident that I can continue to trade with Youtradefx and will do so.:)
     
  10. Sylvie O.

    Sylvie O. Sergeant

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    Hi Laurie,

    I'm glad it was resolved to your satisfaction. Lucky you!:)
     

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