Friday, November 27, 2009

Forex Broker Review: ForexYard

ForexYard


Website:

www.forexyard.com
Headquarters:

Salt Lake City, UT, USA

Phone:

1.212.796.6939
Regulated By:

NFA/CFTC (US)
NFA ID#:

0326091
Founded:

2001
Free Demo Account:
Yes (open a demo account)
Mini Forex Trading:
Yes
Minimum Account Size:
$100
Minimum Trade Size:
1 micro lot ($100)
Customers:
Retail investors, sophisticated money managers, and introducing brokers.
Languages:
English, Arabic, Cambodian, Cantonese, Chinese, French, German, Hindi, Italian, Japanese, Korean, Mandarin, Polish, Portuguese, Russian, and Spanish.
Services:

You will find with ForexYard trading platform an easy and fast access to the forex market.
As we could quickly realize, the platform features advance charting, clear reporting, trade from the charts, all the majors and some exotic currency pairs, Oil, Gold and the rumor say that they will soon add CFD’s on indexes.
Their customer service has been outstanding with us and the feedbacks we received from our readers were always positive. Also, if you like to be taken care of with personal touch, they do have some special promotions for their loyal customers.
Spreads:
EURUSD
4
GBPUSD
9
USDJPY
3
USDCHF
7
AUDUSD
5
EURCHF
4
EURGBP
7
GBP-CHF
13


Ok this is what other peoples say so far related to this broker (below), after that..please give a review and rating, so we all can make a good measurement and find the suit broker to our-self. :-D.



FOREXYARD Reviews:





Rating:     Submitted by: Etim Onuji     (16.06.2008 11:54)
Good executions and very fair company. Let me withdraw money that I profited and seems to not care if I lose or gain.


Rating: SCAM     Submitted by: Bobby     (17.07.2008 20:28)
Forexyard is definately a scammer. You will never get back your money that you withdraw. Watch out for a dealer by the name of Tom Valente. Whatever he said, DO NOT BELIEVE HIM !!!


Rating: SCAM     Submitted by: Newbie     (21.09.2008 05:10)
I am a very new trader with no experinece, and told them this fact.
The problems that I had with The Forexyard
1)It did not explain to me that they are Market Maker company which makes big different.
2)It does not have an honest advice for newbies in that they did not advice the new trader of the mistaken movement in the market
3)If I had known that they were the other side of my execution orders then i would and never and never trade with them..........they did not tell me this fact

Basically I did not like their attitude at all of trading against the traders not in their favorite, but it is a way to make money if we can say it is making money in legitimate way of fooling newbies and take their money without a trustful direct advice for a non experienced trader.

Yes this happened to me and lost money, but it reflects the fact of this Forexyard company and how they deal with newbies and how they drive your thought at the start without being an honest business firm.

I would say it is very SCAM


Rating:     Submitted by: JorgeH     (12.12.2008 21:59)
I do not believe it is a scam at all, personally I have not had any problem at all with them only that the supermini account is real fast but when upgraded to standard account is real slow, the dealing desk for the standard account is too damn slow that it may take minutes to close a position when is high volatility and lose a lot for that, just don\'t upgrade your account.

Service is great, platform is very limited, you can not customize your indicators too much and they do not have any support on that, they only tell you that they working on it and that a new release is near and it will be fixed by then, but the fact is that they don\'t know sh*t about it.


Rating: SCAM     Submitted by: Zahid rafique     (05.03.2009 04:34)
Respected All, Forex yard is a non registered company and do not give back a big profits


Rating: SCAM     Submitted by: Faith     (12.04.2009 10:32)

Tuesday,21 of August 2008 , I opened up a forex traders account(SuperMini) with a company by the name FOREXYARD.COM.
Something I today certainly regret ...After some suspicious readings I
started to "clock" them and ran 3 traders accounts simultaneously while trading as I have earlier been pretty puzzled over a few things regarding the occasional timing versus movements of the chart indicators and the "data-feed" FOREXYARD provide for their clients.Cant say I was surprised to find that the feedings & readings simply didnt "match" and the synchronicity was a joke...There
is no question in my mind that these folks is simply making a living on
stealing other peoples money by introducing the necessary oscillations
in your quotes to help you lose so they can pocket your balance...

Today I have gained more experience and knowledge and do realize that
virtually all forex brokers are bucketshops.They don't really buy or
sell the currencies for you when you place orders.
They just keep your money, and simulate trades (bucketing), since most
traders lose money, they make every dollar their clients lose.

I showed my "readings" to some of my friends that also enjoy the world
of trading whom suggested that I send my
screenshot-chart-signature-material in its entirety to the
NFA or another larger investigating body for a comment but I thought I
would first post my experience on the Forexrealm wich seems to be a good place to start with.

I was thinking , couldnt a forex chart signature from that very day and
minutes perhaps be seen as a "historic fingerprint and evidence" when compared with true market activity?

18th of April 2008 I lost 600 dollars on their methods and decided
after a large number of letters to them without any results or refunds
of any kind to withdraw my remaining 324.99 USD wich I did on 29th of
December 2008(see copy below).
Until this very day I have still neither heard from them or received my
withdrawal...
I have read at other forums about other peoples unability to get their
own money back after withdrawals from FOREXYARD.COM so ,again, Im not
surprised...

----------EMAIL COPY OF MY WITHDRAWAL ATTEMPT---------------------------

Date Mon, 29 Dec 2008 8:01 AM ( 4 months ago )
From "FOREXYARD Withdraw Request"
To "Myname"
Subject FOREXYARD Withdraw Request (TRID: 314446)

Dear "xxx",
Your withdrawal request of 324.99 USD from SuperMini Account #1573 has
been registered. The transaction will be applied within 96 hours. Until
then you still have the opportunity to cancel your withdrawal and return
the sum to your FOREXYARD account. Your Transaction ID is 314446.

FOREXYARD Customer Support
TEL: 1-212-796-6939
support@forexyard.com
https://www.forexyard.com/

------------------------------------------------------------------------
Despite many things , I do enjoy forex trading and the "gambling
factor" thats involved in it.
Nevertheless I have worked hard for my money and it doesnt exactly make
you happy to see your hard earned money get stolen by these unscrupulous
figures.A loss is a loss and its something I would certainly accept as
long as it happens in a fair and natural trading enviroment.
This was the way I felt as a beginner anyway..Today I know considerably
better....

So what should I do? I certainly would like to get my money
back,preferably the whole sum of 1000 USD...Shouldnt I be able to sue
them ?

I wonder how these folks sleep at night? Perhaps thinking just before sleep , "Another good days work "...Sad group of people...

Thank you for your time...

Faith...



Rating: Not Rated     Submitted by: bhavesh     (07.05.2009 04:45)
forexyard is 100% scam

i have deposit 300$ i earn 1000 $ on it

i ask them withdraal they told mee that we only take loss we donot pay the profit

the compnay account manager told that we are here for taking fool people money

i will complain this to visa or paypal
so that this company must be banned


Rating: SCAM     Submitted by: ANN BROWN     (12.05.2009 06:14)
TRADED WITH THEM IN MY EARLY YEARS i WISH I RED THIS REVEIW STAY AWAY


Rating: SCAM     Submitted by: emmanuel wugate     (14.05.2009 04:38)
i really want to know how to get my money from this broker, they are thieves, they caused me pains, they will not pay your money so trading with them is just wasting time and giving your money to robbers, they ignore your mails and keep posting you and saying "we have a delay in processing you withdraws" if any one can help me get my money from them if willvappreciate. eme.cool@gmail.com


Rating:     Submitted by: Charlie Emmet     (18.06.2009 07:39)
I don't quite understand the bad reviews about those guys.
Been trading with them for 8 months now, and i truly feel like they are one of the best brokers around.
Fast execution, and great service.. Very recommended.


GO TO FOREXYARD HOMEPAGE

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