Forexyard scams

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For the execution of trades, ForexYard offers exclusively the MetaTrader 4 platform, but in web version, downloadable and mobile version. ForexYard: A trusted broker? Like many online brokers, ForexYard is based in Cyprus, Nicosia.

However, this Cypriot broker is accessible in various countries around the world and, moreover, its liaison agents are located in 17 countries, including France, and its platform is also available in several languages, including French, English, German, Spanish, Turkish, and Chinese, and as part of its activity, the company is registered and regulated by CySEC in Cyprus and also by the FSA in the United Kingdom.

In the European market, it also complies with the MiFID Financial Instruments Markets Directive, so ForexYard does not present any trading risk, as the funds are well protected and traders can file a complaint in the event of a dispute. As an added bonus, since the brand was acquired by Markets. In order to see your withdrawal request processed, please ensure that the funds remaining on your account following your withdrawal is at least twice of the margin needed to open your regular positions size.

Seems like Forexyard has a hard time to process the withdrawal requests or even to pay their partners. Phillip[1] from Singapore or Thomas Ewing[2] — a private affiliate — are only two of many traders who had problems to withdraw the money from Forexyard. While on forexpeacearmy. The only user I found speaking about Forexyard, was a user named fxyard1 who has been banned. This user appears to be Forexyard itself when considering the location that has been listed — an address in Nicosia, Cyprus.

Anyway, this user has had posts [3] on the forum, Now he is banned. However, some good comments I did found on the internet but after the Babypips. Anyway, here is what Talco12 has to say about Forexyard[4]. Not even Simon Wood from UK seems very convincing [5]. On the same website, is stated that the dealing desk is open 24 hours a day from Sunday to Friday so they are not hiding the fact the trades are placed through a dealing desk.

Trading through a dealing desk, makes it pretty difficult to get the most competitive bid and ask prices and if the liquidity provider is not a big bank, the re-quotes are as normal as the coffee in the morning. This remembered me a funny commercial made for an investment company that went in bankruptcy. The variable spreads start from 1. Be aware that the fixed spreads are available exclusively during the London and US trading sessions.

Very unusual for this industry, the Forexyard Squawk is a streaming audio news service, bringing to traders breaking market news. The audio broadcasts are detailed and wide-ranging, covering Forex, stocks, commodities, bonds, and market indices.