- Honore de Balzac

Quite fitting for Forexyard…  worst broker I’ve dealt with.  And apparently I’m not alone in thinking so…

I’m not surprised…  Forexyard is full of mistakes and problems.

In fact I’m starting to think they are purposely making these “mistakes” and plan their “system problems”, delaying chart data without notice…  

Quite possibly one reason why the Cyprus Securites and Exchange Commission issued a WARNING for Forexyard.

Disappointed and let down once again…  If you’re thinking about joining Forexyard, I suggest you think again!

Despite trading with other brokers, I have a demo account with Forexyard and today I followed the news release for the British CBI Realized Sales on Forexyard and this was the message I received from Forexyard:

Breaking News From
Our Dealing Room 12:30 GMT
British CBI Realized Sales !
Actual Forecast  Previous
18 13      13

Based on that I placed some trades and sure enough lost…

Turns out the result was -18!
…not 18!!!

Some brokers just are shady…

You decide for yourself, is Forexyard a Scam?  I’ve had nothing but problems, and I’m not alone.  The Cyprus Securities and Exchange Commission recently issued a warning for them…. I’m not surprised!!!

Now this warning from the Cyprus Securities and Exchange Commission:

WARNING
The Cyprus Securities and Exchange Commission (‘the Commission’) wishes to inform the investors that the company ‘‘FOREXYARD LTD’(www.forexyard.com):
1. Is not permitted to provide investment and ancillary services in the Republic, pursuant to Investment Services and Activities and Regulated Markets Law, as:
i. It has never been authorized by the Commission.
ii. Ιt is not a bank or a cooperative firm, established in the Republic and authorised to provide such services.
iii. No notification has been received by a competent authority of another Member State, pursuant to sections 77 and 80 of the above mentioned Law.
2. Is not regulated by the Commission.
The Commission urges investors, before conducting business with Investment Firms, to consult its Web Site (http://www.cysec.gov.cy/default_en.aspx) to
Here is the link:

http://www.cysec.gov.cy/Downloads/Investors/%CE%A0%CF%81%CE%BF%CE%B5%CE%B9%CE%B4%CE%BF%CF%80%CE%BF%CE%B9%CE%AE%CF%83%CE%B5%CE%B9%CF%82%20-%20%CE%95_%CE%9A_/2010/Warning%2004.20.2010%20re%20Forexyard%20Ltd.pdf

What is Forexyard’s response to this warning?

It’s sad…     their response is that this is a normal service bulletin that is issued when brokers get approved by the commission…
Does Forexyard believe their own bullshit?

You can’t hide the truth, and doing so makes everything even more suspicious.

My Review of Forexyard:  Two Thumbs Down.
Fix your platform, improve your customer service, and stop feeding bullshit to your customers.

The investing method between a daily account and a mini forex account is the identical; there are some variations that have an effect on the profits and the quantity. investing is completed in smaller ton sizes with a mini forex trading account. On the regular forex market the heap size is 100,000, however with a mini account it is 10,000.

Another thing that happens with a mini forex account is that the price of a pip is decreased. With a normal trade the worth of a pip if $10, with a mini forex account it’s $1. Therefore while the initial investment might be as low as $100, your ability to make substantial profits is more limited.

With lower investment a mini forex account has a lower risk, but lower risk is not a guarantee of profit. Traders should use as much caution as they would with any other forex account. Be prepared for lower profits. This is a natural consequence of lower investments. Traders should always have reasonable expectations, just because your investment is lower is no reason to trade carelessly or you’ll end up losing that investment too.

To offset these disadvantages, a trader can make more multiple trades. If ten lots are bought in differing currency pairs that equal the size of a 100,000 normal forex lot size, the profits will increase as well. Also having a variety of trades and lots will increase your portfolio’s diversity, which also eliminates some risk.

Mini forex accounts are the ideal way for a beginner trader to become accustomed to the environment and develop a strategy that will make them more successful when they upgrade to the larger account.

Trading on margins can also be known to be occurring in futures and stocks trading, although due to the unique nature of such currency, you can get much more leverage within the currency Forex market. Determined by your broker’s terms, it’s possible you’ll have the opportunity to control fifty, 100 or even two hundred times the previous balance of your account. This could result in immense profits should you be triumphant, but it could also mean giant deficits too. Normally, the greater leverage you use, the more risky trading can be.

We are able to understand margins and leverage if we decide to consider an example.

Start to envisage how the current rate on the Uk pound to the United states dollar foreign exchange market is displayed as GBP/USD 1.7000. Consequently to procure a single Great British quid you would need $1.71. If you anticipated the worth of the dollar to rise against the quid you would possibly make your mind up to sell enough pounds to acquire $100,000. In case your trading negotiator used heaps of $10,000 each, this would be 10 lots. After that you would sit back and hang on for the price to go up. Very like Steal Pips.

Just a few days soon after you would possibly discover the cost had moved to GBP/USD 1.6600. Sure enough, the buck has increased and the British pound is now only worth $1.66. Should you sell your dollars right away and exchange back to British pounds, you might have made a return of 2.9% less the spread. 2.9% of one hundred thousand dollars is actually two thousand nine hundred dollars, so that this would be a great trade.

However, the majority of us do not have $100,000 spare cash that we would like to trade onto the foreign currency market. So is where every trading principle of Forex margins come into play.

Given that you are buying and selling unlike currencies at the same time, your personal cash only needs to make up any particular losses that you might make if ever the us buck decreases in place increasing. And you should also put into place a stop loss to restrict the amount you might lose, as a result one thousand dollars might actually be all you need to own in your bank account to make this one hundred thousand dollar acquisition. Your broker dealer guarantees the rest, at ninety nine thousand dollars.

Actually many firms right now work partial risk amounts where the account will automatically close out the trade if whatever funds you have in your financial account are ever lost. All this avoids margin calling that might be ruinous for traders as they suggest that you, a trading professional are able to lose a lot more then you ever have. However, when you trade with a fx narrow risk trading account there is not a chance of this happening. The broker’s expert advisors from your choice to manage your credit account will not allow you losing anymore then what you have as your account balance.

Using leverage in this way,which is so widespread in currency trading will soon will mean you do it without even thinking about it. Nevertheless it’s essential to hold at heart all of the risks that you are cautioned about. Reduced leverage is definitely more secure which means that you possibly will not at all desire to check out the utmost Forex margin that your trading broker might well allow.

Forex trading can help you generate huge wealth from home but it is easier to lose money than it is to make it. To ensure you are fully equipped for the challenge read this High Velocity Market Master Review to see how you can learn from a Forex master.

Commentary by Gregor Anton:

Brokers typically give you a x200 leverage.  Some go as high as x500.  What I like about eToro is that I can choose my leverage anywhere from x10 to x400 and gauge the probability of my trade and determine the leverage I’d like to use.

I’ve had far too many problems with Forexyard….

As much as I like the ActFx platform, it uses alot of memory and is somewhat buggy.  It’s a shame, I really enjoyed writing indicators and strategies for ActFx.

Here I come Metatrader 4

So far, so good.  There are some quirks but no crashes!  And the memory usage is far less than ActFx.  A quarter of ActFx actually, and I’ve got more charts open and dozens of indicators at my disposal thanks to the Metatrader Community.

In light of the Forexyard problems I requested a refund for a trade that resulted in a loss due to their server issues.   Still no refund and no answer or solution.

I’m not happy about this at all.

So meanwhile I’m using eToro to place all my trades.  I find their webtrader interface works really well.  And is responsive during news times.  In the past eToro had issues with their trading station and orders weren’t executed properly, ie. stops would be missed.  Take profits wouldn’t be executed.  Major trading issues.   However I have to say that eToro came through with their support and refunded me on every single trade that resulted in a loss due to their server issues.

I can’t say the same for Forexyard.