Keep out! FOREXYARD doesnt pay profits!

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sivim

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Hello All!

I have read about Forexyard in an advertisment here at t2w, so I openned an account with them. They told me that they dont like scalpers so I decided to use my long term trading strategy. I've made two consecutive profitable long term trades during a month and decided to check them whether they are a good broker that pays profits. The withrawal of the amount of my initial deposit went with problems but had been successfully finished. But when the question arised to withdraw the profits, here's where they showed who they are! Well a month has already passed but no money was sent! My account manager called me and told me that there were some problems, so I asked to connect me with his manager, but of course, the manager wasn't available, so he told me that the manager would contact me the next day! Well more then 3 weeks has passed since that day but nobody called me. I sent them a few e-mails, tried to contact them through live chat, but without any success :(

So please be aware that Forexyard is a broker which sends you back only your initial deposit if you make money, and if you lose - they are happy!
So they are doing a buiseness in which they cannot lose. Maybe that's why they dont have any regulation. But they are entraping people with different kinds of cashbacks which as their manager Mr. Daniel told me (I have the transcript of the chat, so if anyone wants to see it just notify me) was only a higher leverage of your own money...

So be careful!
Thanks!
Best wishes,
Ivan
 
Last edited:
Many thanks for the warning!

But let me remind you that, this broker takes place among the "preferred brokers" of this site!

If you make a search-dive deep into the internet, you will also see that other "preferred brokers" (i.e. dbfx & fxcm) have also many shortcomings in forex brokerage. Be careful!!

My last word is: "Search really well before paying any deposit to a broker, even if the broker is your father :)"
 
sivim said:
Hello All!

I have read about Forexyard in an advertisment here at t2w, so I openned an account with them. They told me that they dont like scalpers so I decided to use my long term trading strategy. I've made two consecutive profitable long term trades during a month and decided to check them whether they are a good broker that pays profits. The withrawal of the amount of my initial deposit went with problems but had been successfully finished. But when the question arised to withdraw the profits, here's where they showed who they are! Well a month has already passed but no money was sent! My account manager called me and told me that there were some problems, so I asked to connect me with his manager, but of course, the manager wasn't available, so he told me that the manager would contact me the next day! Well more then 3 weeks has passed since that day but nobody called me. I sent them a few e-mails, tried to contact them through live chat, but without any success :(

So please be aware that Forexyard is a broker which sends you back only your initial deposit if you make money, and if you lose - they are happy!
So they are doing a buiseness in which they cannot lose. Maybe that's why they dont have any regulation. But they are entraping people with different kinds of cashbacks which as their manager Mr. Daniel told me (I have the transcript of the chat, so if anyone wants to see it just notify me) was only a higher leverage of your own money...

So be careful!
Thanks!
Best wishes,
Ivan
Click to expand...

If the amount you lost is worth it, do not hesitate to sue this scammer. They must see that stealing money form the people is not so easy.
 
sivim said:
Hello All!

I have read about Forexyard in an advertisment here at t2w, so I openned an account with them. They told me that they dont like scalpers so I decided to use my long term trading strategy. I've made two consecutive profitable long term trades during a month and decided to check them whether they are a good broker that pays profits. The withrawal of the amount of my initial deposit went with problems but had been successfully finished. But when the question arised to withdraw the profits, here's where they showed who they are! Well a month has already passed but no money was sent! My account manager called me and told me that there were some problems, so I asked to connect me with his manager, but of course, the manager wasn't available, so he told me that the manager would contact me the next day! Well more then 3 weeks has passed since that day but nobody called me. I sent them a few e-mails, tried to contact them through live chat, but without any success :(

So please be aware that Forexyard is a broker which sends you back only your initial deposit if you make money, and if you lose - they are happy!
So they are doing a buiseness in which they cannot lose. Maybe that's why they dont have any regulation. But they are entraping people with different kinds of cashbacks which as their manager Mr. Daniel told me (I have the transcript of the chat, so if anyone wants to see it just notify me) was only a higher leverage of your own money...

So be careful!
Thanks!
Best wishes,
Ivan
Click to expand...

Ivan,

I wish this article had been written earlier about Cyprus-based brokers. Check out Can Cyprus Forex Brokers Be Trusted? so you understand what you're up against with Cyprus, Seychelles, BVI, and Belize brokers.
 
Hello All!

Forex Yard and I have reached a mutually acceptable resolution of this issue with the assistance of the FPA.

I can understand Forex Yard's concerns about possible abuse of their account funding bonuses. In my case, I never intended to abuse their system, and they understand my point of view also. I am happy to report that they have agreed to pay my profits and I bear no ill will towards Forex Yard over this situation. I withdraw all previous claims that Forex Yard has done anything illegal or unethical.

Though I haven't received my money yet, but I've got a promise from Mr. Lee More, FxYard's President, to receive them soon. I will let you know after the receipt asap.
 
sivim said:
Hello All!

Forex Yard and I have reached a mutually acceptable resolution of this issue with the assistance of the FPA.

I can understand Forex Yard's concerns about possible abuse of their account funding bonuses. In my case, I never intended to abuse their system, and they understand my point of view also. I am happy to report that they have agreed to pay my profits and I bear no ill will towards Forex Yard over this situation. I withdraw all previous claims that Forex Yard has done anything illegal or unethical.

Though I haven't received my money yet, but I've got a promise from Mr. Lee More, FxYard's President, to receive them soon. I will let you know after the receipt asap.
Click to expand...
Good news! I wish you get your money soon.
 
Nice to see that even when people think a broker is a scammer - it turns out that they aren't necesserily the bad guy "every time". Maybe you should check out forexyard. We do our best to ensure that customers are given a fair deal. It doesn't mean it's always to the benefit of the customer - but we care enough to hear the other side's point of view and sometimes a resolution is even more fair than toeing the company line.

Good luck to you all

Lee More
FOREXYARD
 
forexyard said:
Nice to see that even when people think a broker is a scammer - it turns out that they aren't necesserily the bad guy "every time". Maybe you should check out forexyard. We do our best to ensure that customers are given a fair deal. It doesn't mean it's always to the benefit of the customer - but we care enough to hear the other side's point of view and sometimes a resolution is even more fair than toeing the company line.

Good luck to you all

Lee More
FOREXYARD
Click to expand...

Hi Mr Lee More,

Thanks for the Standing Out.

I have trying to withdrawal my capital and profits, but been more than 6 months
now this today, I have not recieved any payment. Its a crying shame, Sir!
My live account is the standard account 20704.

Please check out my payment due to my visa...not paid since January 2009..
the Account Manager, Mr Danny did not make payment.(although he claims he make the
payment.)

But when I did ask for the relevant payment invoice for reference ..Mr Danny/Daniel can't produce any. Nothing!

All my email and request are NOT even been answered. Is this what a good financial broker attitude all about?
Mr Gary of Introducer's department tried to help, but he was denied!

I really think, that some one your company is doing dis servcising to customers.
Your accounts department needs AUDIT!

I can show more prove,if needed.

Hope you will help, Sir! Thanks in Advance.
 
Here's another "FAIR DEAL", what a company! :mad:


wildpips said:
Hi Mr Lee More,

Thanks for the Standing Out.

I have trying to withdrawal my capital and profits, but been more than 6 months
now this today, I have not recieved any payment. Its a crying shame, Sir!
My live account is the standard account 20704.

Please check out my payment due to my visa...not paid since January 2009..
the Account Manager, Mr Danny did not make payment.(although he claims he make the
payment.)

But when I did ask for the relevant payment invoice for reference ..Mr Danny/Daniel can't produce any. Nothing!

All my email and request are NOT even been answered. Is this what a good financial broker attitude all about?
Mr Gary of Introducer's department tried to help, but he was denied!

I really think, that some one your company is doing dis servcising to customers.
Your accounts department needs AUDIT!

I can show more prove,if needed.

Hope you will help, Sir! Thanks in Advance.
Click to expand...
 
Why are cutting Forex Yard any slack?

sivim said:
Hello All!

Forex Yard and I have reached a mutually acceptable resolution of this issue with the assistance of the FPA.

I can understand Forex Yard's concerns about possible abuse of their account funding bonuses. In my case, I never intended to abuse their system, and they understand my point of view also. I am happy to report that they have agreed to pay my profits and I bear no ill will towards Forex Yard over this situation. I withdraw all previous claims that Forex Yard has done anything illegal or unethical.

Though I haven't received my money yet, but I've got a promise from Mr. Lee More, FxYard's President, to receive them soon. I will let you know after the receipt asap.
Click to expand...

I wouldn't be so quick to kiss and make up until you get some cash in hand. You didn't abuse their system. You just traded. Every broker conveniently has their own definition of scalping and, believe me, there's nothing wrong with it. They don't like what they refer to as "scalping" because it puts them at risk. There's no reason why it should have taken as long as it did for you to get your money back. It didn't take 2 months for them to take your money in the first place, did it?

Hold off on the forgiveness until you're made whole.
 
For Mr Lee More to check this out.

Hello Mr Lee More,

Hope you can also solve my withrawal problem. Been 6 months kicking out here.

Please check below, all these cancellation of my request is done by your accounting dept, is not authorised by me.
I apply for the withdrawals, BUT they deliberately cancelled them. On whose authority did they did these?
I am a client and I want my money back, But they stop it.
Is this some of kind of a joke?

Hope All forum members give me the support, to put Forexyard back on track! :clap:
 

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Ok, so someone has to have been at fault. What was the problem that caused you to refuse to send
Sivim's money, because the same could happen to anyone?
 
ForexYard...Fraud and Criminal Breach of Trust on My Standard account 20704

forexyard said:
Nice to see that even when people think a broker is a scammer - it turns out that they aren't necesserily the bad guy "every time". Maybe you should check out forexyard. We do our best to ensure that customers are given a fair deal. It doesn't mean it's always to the benefit of the customer - but we care enough to hear the other side's point of view and sometimes a resolution is even more fair than toeing the company line.

Good luck to you all

Lee More
FOREXYARD
Click to expand...

Hello Mr Lee More,
President of Forexyard.

As of my last posting here in this particular thread, I have not recieve any reply
from you or any ot your staff.
I am having a clear case of CBT(Criminal Breach of Trust) and Fraud here involving Forexyard,
BUT there is no urgency on your part and your company?

Do you want me to go ahead and take action to caveat your company's Bank Account?

The thing is ,if it get hot, I will not hesitate to report this your Embassy and lodge a Police Report!
 
hey

forget about past look forward and stat again forex with new broker who is good trustable.they have good execution and competitive spread and you can open an account as low as 1 usd dollar they will be best for you.
irascibletrader said:
Ivan,

I wish this article had been written earlier about Cyprus-based brokers. Check out Can Cyprus Forex Brokers Be Trusted? so you understand what you're up against with Cyprus, Seychelles, BVI, and Belize brokers.
Click to expand...
 
"irascibletrader

I wish this article had been written earlier about Cyprus-based brokers. Check out Can Cyprus Forex Brokers Be Trusted? so you understand what you're up against with Cyprus, Seychelles, BVI, and Belize brokers."

Thanks for this articles..

Btw, up to till day, Mr Lee More ,President of Forexyard or Staff of Forexyard,

have not even reply to.

I will keep this update for all Trade2Win forum members..every week for the next 10 years. :LOL:

p/s I Iam considering to run a website to help me promote specifically this incidence with forexyard , too,(y) Just prepare for the worst!
 
evergreen1 said:
forget about past look forward and stat again forex with new broker who is good trustable.they have good execution and competitive spread and you can open an account as low as 1 usd dollar they will be best for you.
Click to expand...

Definitely we have to move on,But,The fact is that if our money is lost thru Fraud and
Scams, and also Criminal Breach of Trust case, we have the right to take what
ever legal actions with this unscrouples forex operators and brokers. We CAN put them
behind bars, eat junk food in the prison cell, and taste what they have convicted for.
Dont you think so? :LOL:
 
Wildpips, I suggest you go to the Forex Peace Army website and open a scam ticket there. At least you will have the FPA working for you as a mediator. Otherwise, you probably have no chance of getting your money back.
 
The risk is always subtantially more with unregulated companies. Though a regulated company is not necessarily a honest company, at least their managers know that, they may face penal sanctions in case of breaching the regulations. I dont understand why people choose unregulated offshore companies.
 
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