As a trader i follow this ideology: That there must be a clear line between a loss & a business man's risk.
In that case here, i believe that we are talking about a loss. Big dip in equity. But, again you are spreading the wrong word.
As a trader i follow this ideology: That there must be a clear line between a loss & a business man's risk.
In that case here, i believe that we are talking about a loss. Big dip in equity. But, again you are spreading the wrong word.
Hi all,
I have received a training offer from yesfx during the past couple of days, and after reading all the comments on here I am glad that I made the decision to decline. Overall, I dont think that the company is a scam. I have checked up the address, website and linkedin profile and they are professionals running a legitimate business.
However this doesnt change the fact that there are many concerns regarding the company, a few of which;
1. I was asked to pay 2550 Euros for the training, I find it very shady how this price has fluctuated from some 500 euros around a year to ago to 1400 and now to 2550 Euros.
2. Number of trades per day. As many of you already specified. Compulsory trading on a daily basis is not always the best option to make profits and could lead to losses which could then lead to your contract being terminated and your initial payment going down the drain.
Again, Im not going to claim the company is a scam, there could be some traders who joined and made profits, but while this provides no guarantee, paying a large sum upfront, this simply doesnt seem like the best place to join to better your career.
I have received a training offer from yesfx during the past couple of days, and after reading all the comments on here I am glad that I made the decision to decline. Overall, I dont think that the company is a scam. I have checked up the address, website and linkedin profile and they are professionals running a legitimate business.
However this doesnt change the fact that there are many concerns regarding the company, a few of which;
1. I was asked to pay 2550 Euros for the training, I find it very shady how this price has fluctuated from some 500 euros around a year to ago to 1400 and now to 2550 Euros.
2. Number of trades per day. As many of you already specified. Compulsory trading on a daily basis is not always the best option to make profits and could lead to losses which could then lead to your contract being terminated and your initial payment going down the drain.
Again, Im not going to claim the company is a scam, there could be some traders who joined and made profits, but while this provides no guarantee, paying a large sum upfront, this simply doesnt seem like the best place to join to better your career.
Beware of these guys, they aren't traders, just trying to make money from spreads and their trading course; one look at their money management rules would be a red flag for any experienced trader; they force you to trade with a fixed position size (1 lot) and only intraday. This is an absurd way to manage risk as it forbids you to keep your $ risk constant and gives no flexibility setting your entry/exits according to the market structure and dynamics...they want you to gamble not trade and your max daily loss is set at 900€...with a 1 lot size...��
YESFX LTD SCAM - Be AWARE Traders!!
Hello Everyone,
I am an FX trader for over 6 years and YESFX LTD i can assure you guys they are 99.9% Scam. YESFX LTD SCAM.
Please be aware of this firm and they have a very bad communication that they won`t even talk or discuss about the First Fee of 1,450 Euro.
Their Manager Mr. Kyriakos Charilaou, He told me that he don`t have a time to waste !!!
Please look at my emails with them and you can figure it out how much they are a bad scammers.
YESFX LTD SCAM:
As I said I don’t want to waste my time. Good luck with that.
Best Regards,
Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director
yesfx outlook
22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus
( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail [email protected]
? URL www.yesfx.com.cy
The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
From: Bishra Haj [mailto:[email protected]]
Sent: Friday, May 06, 2016 12:13 PM
To: Kyriakos Charilaou
Subject: RE: RE: RE: RE: yesfx prop trader application
You already wasted my time and because you are acting now as an asshole!!
I will make yesfx the best keyword in google for scams!!!!
When you write yesfx in google you will see the first keyword next to it " scam " i promise you that will happen within 2 weeks from now.
Such a bad attitude and you dont know how to write a proffessional email either.
You are down
. You still dont know how to handle a bad SEO and negative keywords... Also in arabic so your customers will loooove it ))
Bye scammer
Sent from Outlook Mobile
On Fri, May 6, 2016 at 2:09 AM -0700, "Kyriakos Charilaou" <[email protected]> wrote:
Thanks for this response. I don’t want to waste my time on this.
Best Regards,
Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director
yesfx outlook
22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus
( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail [email protected]
? URL www.yesfx.com.cy
The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
From: Bishra Haj [mailto:[email protected]]
Sent: Friday, May 06, 2016 12:03 PM
To: Kyriakos Charilaou
Subject: RE: RE: RE: RE: yesfx prop trader application
Dear kyriakos,
Please do cancel the whole appointment, after reading feedbacks about yesfx and the starting fee you request isnt acceptable at all.
Wish you a blessed day from Nazareth the city of jesus.
Kind regards,
Bishara
Sent from Outlook Mobile
On Fri, May 6, 2016 at 1:58 AM -0700, "Kyriakos Charilaou" <[email protected]> wrote:
12 EET – check the link please. Now it’s almost 12 EET.
Dear Mr Bishara Haj,
Thank you for your response below. Your skype interview appointment for the position of the Remote FX Prop-trader at YESFX is set for Friday 6th of May at 12:00 (EET – Eastern European Time). Please check time link and make sure you appear on time.
My skype id is: YESFX_LTD
Please make sure that you have access to a PC (Desktop Computer) or laptop with a camera and microphone setting enabled since the interview will be a video call. Interviews CANNOT be conducted properly using mobile phones.
All candidates are required to show up on time for their skype interview, otherwise your application for this position might no longer being processed further.
PLEASE CONFIRM
Best Regards,
Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director
yesfx outlook
22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus
( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail [email protected]
? URL www.yesfx.com.cy
The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
From: Bishra Haj [mailto:[email protected]]
Sent: Friday, May 06, 2016 11:57 AM
To: Kyriakos Charilaou
Subject: RE: RE: RE: RE: yesfx prop trader application
Dear kyriakos,
The interview time which you mentioned must be at 12:00 EET but now its 10:56,
Your skype interview appointment for the position of the Remote FX Prop-trader at YESFX is set for Friday 6th of May at 12:00 (EET – Eastern European Time).
Kind regrads,
Bishara
Sent from Outlook Mobile
On Fri, May 6, 2016 at 1:54 AM -0700, "Kyriakos Charilaou" <[email protected]> wrote:
Dear Mr Bishara Haj,
Your skype interview appointment for the position of the Remote FX Prop-trader at YESFX Ltd starts in 8 minutes from now. I cannot see you online on skype. Please add me on skype. My skype id is: YESFX_LTD
In case you do not show up on time your application will be automatically terminated.
Thanking you in advance for your prompt response.
Best Regards,
Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director
yesfx outlook
22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus
( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail [email protected]
? URL www.yesfx.com.cy
The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
From: bishara haj [mailto:[email protected]]
Sent: Thursday, May 05, 2016 11:33 AM
To: Kyriakos Charilaou
Subject: Re: RE: RE: RE: yesfx prop trader application
I do Confirm,
Thank you
Sent: Thursday, May 05, 2016 at 11:30 AM
From: "Kyriakos Charilaou" <[email protected]>
To: "'bishara haj'" <[email protected]>
Subject: RE: RE: RE: yesfx prop trader application
Dear Mr Bishara Haj,
Thank you for your response below. Your skype interview appointment for the position of the Remote FX Prop-trader at YESFX is set for Friday 6th of May at 12:00 (EET – Eastern European Time). Please check time link and make sure you appear on time.
My skype id is: YESFX_LTD
Please make sure that you have access to a PC (Desktop Computer) or laptop with a camera and microphone setting enabled since the interview will be a video call. Interviews CANNOT be conducted properly using mobile phones.
All candidates are required to show up on time for their skype interview, otherwise your application for this position might no longer being processed further.
PLEASE CONFIRM
Best Regards,
Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director
yesfx outlook
22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus
( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail [email protected]
? URL www.yesfx.com.cy
The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
From: bishara haj [mailto:[email protected]]
Sent: Thursday, May 05, 2016 11:29 AM
To: Kyriakos Charilaou
Subject: Re: RE: RE: yesfx prop trader application
Hello,
I confirm, Currently i am at the office and i dont have a webcam but i can use the iPhone skype for video chat.
By the way, the fee payment is very affordable and this is not the case.
Kind Regards,
Bishara Haj
Skype: Bishara.Haj
Sent: Thursday, May 05, 2016 at 11:22 AM
From: "Kyriakos Charilaou" <[email protected]>
To: "'bishara haj'" <[email protected]>
Subject: RE: RE: yesfx prop trader application
Dear Mr Bishara Haj,
ALL of your questions will be answered in the skype interview. Please confirm that you agree with our terms and conditions stated in the email below (including the entry fee payment of €1,450).
I don’t want to waste my time and your time here. If you believe that the entry fee is inappropriate or cannot be afforded that is widely respected and understood.
Looking forward to receive your response.
Best Regards,
Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director
yesfx outlook
22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus
( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail [email protected]
? URL www.yesfx.com.cy
The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
From: bishara haj [mailto:[email protected]]
Sent: Thursday, May 05, 2016 11:08 AM
To: Kyriakos Charilaou
Subject: Re: RE: yesfx prop trader application
Dear Mr. Kyriakos Charilaou,
First i would like to thank you for this wonderful opportunity to be one of YESFX traders team arround the globe.
I have actually read all the information you have sent me with the agreement, I have no doubt about your company and the high performance you require from the traders to show off the best picture of YESFX.
This is a good position to let me provide my trading skills and help to improve the performance of your trading floor to reach unexpected goals. In addition, I have been trading since 6 years at least and i have managed many heavy trading accounts and reached an impressive results. (Positions History can be provided)
After i have made a research on YESFX and found out many people are satisfied with your team, however some other has taken the first payment for the contract as a " risky " issue. Lets say I do have the prove that i am a skilled trader and i hope we can arrange a solution for this for our best.
I do have some questions i need to ask you before i take the interview and if we could arrange a call that will be great.
Kind Regards,
Bishara
Sent: Thursday, May 05, 2016 at 10:38 AM
From: "Kyriakos Charilaou" <[email protected]>
To: "'bishara haj'" <[email protected]>
Subject: RE: yesfx prop trader application
Dear Mr Bishara Haj,
Thank you for submitting your CV and traders analysis template regarding the Prop Trader position with YESFX Ltd, the biggest Prop Trading House in Eastern Europe. YESFX Ltd in cooperation with PR Human Resource Consultants is in the pleasant position to offer you the opportunity to interview for the position of the Junior Prop Trader. Kindly notice that this is NOT an offer for this position since further assessments and tests will be conducted for evaluation during the interview.
We have reviewed your qualifications and we are prepared to offer you an interview. We kindly request you read the remaining of this email thoroughly before responding.
Please note the amount of time each trader devotes to the position is different. Therefore the position can be either part time or full time; and at the same time it can be combined with another career or school depending on the trader’s current schedule.
YESFX Ltd is pleased to offer you an interview for the Junior Prop-Trader with a YESFX individual trading account of €50,000. In order to proceed with the hiring process we need to complete an online Skype interview [Skype id YESFX_LTD]. If our Human Resources Department is satisfied with the interview you will receive further instructions. The position, if offered to you, can be combined with current employment or school. The interview will be arranged as soon as you respond to this email.
The position of Junior Prop Trader offers the following:
· A €50,000 live account [successful candidates will use their personal strategies combined with YESFX money management rules to trade this account]
· Access to YESFX Traders online community of professional prop traders. This will allow you to interact with your colleagues. The online community will offer online seminars and Q & A live chat sessions.
· Monthly income based on performance. You will receive 50% of all monthly gains.
Please be advised that we require you to utilize your own Trading System in combination with YESFX money management trading rules as seen below:
· Minimum trade per day: 1
· Maximum trade per day: 3
· Minimum or Maximum position size per trade: 100.000 (1 lot)
· Intraday positions: All positions must be closed before the end of the trading session.
· Maximum daily loss: €900
· If dropdown of 10% (€5000)occurs in the account, the trader will enter monitoring and we have the right to terminate the contract
· Instruments: Eurusd, gbpusd, audusd, eurgbp, usdcad, usdjpy, eurjpy, gbpjpy, euraud
· European and American Trading Sessions
You will have a chance to ask any questions regarding the above rules during the interview.
Successful candidates will be asked to provide the following information in order to proceed with the hiring process:
· A valid copy of your passport – in order to prepare the ‘Partnership Agreement’ (sample of the agreement, do not print, read only).
· A one-off payment of €1450 entry fee which will cover:
1. Legal Admission fees
2. Your own Execute Trader
3. Access to one on one chat sessions with our instructors
4. Access to the YESFX Traders online community [live webinars and forum]
5. Processing fees for all future withdrawals [does not include Bank Charges]
The entry fee is required upfront for the above reasons and cannot be requested to be deducted from future gains. Even though we have concluded certain candidates have a high chance of success our main priority is the viability of our international program. Since there is no guarantee that everyone we hire will be profitable, we need to cover legal costs upfront in order to keep the program alive for people internationally.
· Once you provide us with the above, we will then prepare the agreement and forward it to you for signing.
Once you start trading with YESFX Ltd you will be allowed to withdraw any profits generated from intraday FX-trading at the end of each month. For example, once your total amount of profits exceeds €800 your performance fee will be 50% thereof (that is €400).
Upon completion of the above steps you will be authorized to start trading for us within 48 hours if you are selected. Please note that the normal working hours for intraday FX-trading is from 09:00-19:00(unless otherwise specified) [EET – Eastern European Time]. Our trades are placed online through our software. We will provide links and further details once the Partnership Agreement is signed.
We kindly request that you respond within 48-hours upon receiving this email in order to schedule your online interview. In the event that you don’t, your application process will be terminated. For more information regarding this position you can visit our website at:
http://www.yesfx.com.cy/trader
Also, please note that I have attached a FAQs pdf for your convenience.
In case you have any further questions do not hesitate to contact us directly via email or to the numbers listed at the bottom of this email.
Follow us on LinkedIn, Twitter, YouTube and Facebook to learn more about us!
Best Regards,
Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director
yesfx outlook
22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus
( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail [email protected]
? URL www.yesfx.com.cy
The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
From: bishara haj [mailto:[email protected]]
Sent: Wednesday, May 04, 2016 10:27 AM
To: Kyriakos Charilaou
Subject: Re: yesfx prop trader application
Dear Mr. Kyriakos,
Thank you for the kind opportunity!
I have included the Analysis Template in this Email, Please have a look. I Hope the analysis you find it well, I do have experience in trading in Indices as well.
Kind Regards,
Bishara Haj
Sent: Wednesday, May 04, 2016 at 9:05 AM
From: "Kyriakos Charilaou" <[email protected]>
To: [email protected]
Subject: yesfx prop trader application
Dear Mr Bishara Haj,
Thank you for your CV/application submission for the position of the Remote FX Prop-trader at YESFX.
Your profile skills seem to match the criteria we are looking for the position of the FX Prop-trader at YESFX.
However, in order for me to better assess your technical analysis and FX trading skills and in order to properly assess if you need training or not, I hereby attach a “Traders template” which you are required to use to perform the following:
1. Perform an intraday technical analysis (use 1-hour chart) on ANY FX pair you like
2. Clearly state your entry level for any long/short positions you recommend
3. State your stop loss and take profit levels for the position advised above
4. In no more than 5-6 lines briefly describe/comment on the strategy you have followed for above position recommended
Note: You have more probabilities to be invited for an interview if your trade analysis is profitable rather than resulting in a loss.
Best Regards,
Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director
yesfx outlook
22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus
( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail [email protected]
? URL www.yesfx.com.cy
The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
Hello Everyone,
I am an FX trader for over 6 years and YESFX LTD i can assure you guys they are 99.9% Scam. YESFX LTD SCAM.
Please be aware of this firm and they have a very bad communication that they won`t even talk or discuss about the First Fee of 1,450 Euro.
Their Manager Mr. Kyriakos Charilaou, He told me that he don`t have a time to waste !!!
Please look at my emails with them and you can figure it out how much they are a bad scammers.
YESFX LTD SCAM:
As I said I don’t want to waste my time. Good luck with that.
Best Regards,
Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director
yesfx outlook
22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus
( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail [email protected]
? URL www.yesfx.com.cy
The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
From: Bishra Haj [mailto:[email protected]]
Sent: Friday, May 06, 2016 12:13 PM
To: Kyriakos Charilaou
Subject: RE: RE: RE: RE: yesfx prop trader application
You already wasted my time and because you are acting now as an asshole!!
I will make yesfx the best keyword in google for scams!!!!
When you write yesfx in google you will see the first keyword next to it " scam " i promise you that will happen within 2 weeks from now.
Such a bad attitude and you dont know how to write a proffessional email either.
You are down
. You still dont know how to handle a bad SEO and negative keywords... Also in arabic so your customers will loooove it ))Bye scammer
Sent from Outlook Mobile
On Fri, May 6, 2016 at 2:09 AM -0700, "Kyriakos Charilaou" <[email protected]> wrote:
Thanks for this response. I don’t want to waste my time on this.
Best Regards,
Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director
yesfx outlook
22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus
( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail [email protected]
? URL www.yesfx.com.cy
The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
From: Bishra Haj [mailto:[email protected]]
Sent: Friday, May 06, 2016 12:03 PM
To: Kyriakos Charilaou
Subject: RE: RE: RE: RE: yesfx prop trader application
Dear kyriakos,
Please do cancel the whole appointment, after reading feedbacks about yesfx and the starting fee you request isnt acceptable at all.
Wish you a blessed day from Nazareth the city of jesus.
Kind regards,
Bishara
Sent from Outlook Mobile
On Fri, May 6, 2016 at 1:58 AM -0700, "Kyriakos Charilaou" <[email protected]> wrote:
12 EET – check the link please. Now it’s almost 12 EET.
Dear Mr Bishara Haj,
Thank you for your response below. Your skype interview appointment for the position of the Remote FX Prop-trader at YESFX is set for Friday 6th of May at 12:00 (EET – Eastern European Time). Please check time link and make sure you appear on time.
My skype id is: YESFX_LTD
Please make sure that you have access to a PC (Desktop Computer) or laptop with a camera and microphone setting enabled since the interview will be a video call. Interviews CANNOT be conducted properly using mobile phones.
All candidates are required to show up on time for their skype interview, otherwise your application for this position might no longer being processed further.
PLEASE CONFIRM
Best Regards,
Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director
yesfx outlook
22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus
( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail [email protected]
? URL www.yesfx.com.cy
The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
From: Bishra Haj [mailto:[email protected]]
Sent: Friday, May 06, 2016 11:57 AM
To: Kyriakos Charilaou
Subject: RE: RE: RE: RE: yesfx prop trader application
Dear kyriakos,
The interview time which you mentioned must be at 12:00 EET but now its 10:56,
Your skype interview appointment for the position of the Remote FX Prop-trader at YESFX is set for Friday 6th of May at 12:00 (EET – Eastern European Time).
Kind regrads,
Bishara
Sent from Outlook Mobile
On Fri, May 6, 2016 at 1:54 AM -0700, "Kyriakos Charilaou" <[email protected]> wrote:
Dear Mr Bishara Haj,
Your skype interview appointment for the position of the Remote FX Prop-trader at YESFX Ltd starts in 8 minutes from now. I cannot see you online on skype. Please add me on skype. My skype id is: YESFX_LTD
In case you do not show up on time your application will be automatically terminated.
Thanking you in advance for your prompt response.
Best Regards,
Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director
yesfx outlook
22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus
( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail [email protected]
? URL www.yesfx.com.cy
The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
From: bishara haj [mailto:[email protected]]
Sent: Thursday, May 05, 2016 11:33 AM
To: Kyriakos Charilaou
Subject: Re: RE: RE: RE: yesfx prop trader application
I do Confirm,
Thank you
Sent: Thursday, May 05, 2016 at 11:30 AM
From: "Kyriakos Charilaou" <[email protected]>
To: "'bishara haj'" <[email protected]>
Subject: RE: RE: RE: yesfx prop trader application
Dear Mr Bishara Haj,
Thank you for your response below. Your skype interview appointment for the position of the Remote FX Prop-trader at YESFX is set for Friday 6th of May at 12:00 (EET – Eastern European Time). Please check time link and make sure you appear on time.
My skype id is: YESFX_LTD
Please make sure that you have access to a PC (Desktop Computer) or laptop with a camera and microphone setting enabled since the interview will be a video call. Interviews CANNOT be conducted properly using mobile phones.
All candidates are required to show up on time for their skype interview, otherwise your application for this position might no longer being processed further.
PLEASE CONFIRM
Best Regards,
Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director
yesfx outlook
22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus
( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail [email protected]
? URL www.yesfx.com.cy
The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
From: bishara haj [mailto:[email protected]]
Sent: Thursday, May 05, 2016 11:29 AM
To: Kyriakos Charilaou
Subject: Re: RE: RE: yesfx prop trader application
Hello,
I confirm, Currently i am at the office and i dont have a webcam but i can use the iPhone skype for video chat.
By the way, the fee payment is very affordable and this is not the case.
Kind Regards,
Bishara Haj
Skype: Bishara.Haj
Sent: Thursday, May 05, 2016 at 11:22 AM
From: "Kyriakos Charilaou" <[email protected]>
To: "'bishara haj'" <[email protected]>
Subject: RE: RE: yesfx prop trader application
Dear Mr Bishara Haj,
ALL of your questions will be answered in the skype interview. Please confirm that you agree with our terms and conditions stated in the email below (including the entry fee payment of €1,450).
I don’t want to waste my time and your time here. If you believe that the entry fee is inappropriate or cannot be afforded that is widely respected and understood.
Looking forward to receive your response.
Best Regards,
Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director
yesfx outlook
22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus
( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail [email protected]
? URL www.yesfx.com.cy
The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
From: bishara haj [mailto:[email protected]]
Sent: Thursday, May 05, 2016 11:08 AM
To: Kyriakos Charilaou
Subject: Re: RE: yesfx prop trader application
Dear Mr. Kyriakos Charilaou,
First i would like to thank you for this wonderful opportunity to be one of YESFX traders team arround the globe.
I have actually read all the information you have sent me with the agreement, I have no doubt about your company and the high performance you require from the traders to show off the best picture of YESFX.
This is a good position to let me provide my trading skills and help to improve the performance of your trading floor to reach unexpected goals. In addition, I have been trading since 6 years at least and i have managed many heavy trading accounts and reached an impressive results. (Positions History can be provided)
After i have made a research on YESFX and found out many people are satisfied with your team, however some other has taken the first payment for the contract as a " risky " issue. Lets say I do have the prove that i am a skilled trader and i hope we can arrange a solution for this for our best.
I do have some questions i need to ask you before i take the interview and if we could arrange a call that will be great.
Kind Regards,
Bishara
Sent: Thursday, May 05, 2016 at 10:38 AM
From: "Kyriakos Charilaou" <[email protected]>
To: "'bishara haj'" <[email protected]>
Subject: RE: yesfx prop trader application
Dear Mr Bishara Haj,
Thank you for submitting your CV and traders analysis template regarding the Prop Trader position with YESFX Ltd, the biggest Prop Trading House in Eastern Europe. YESFX Ltd in cooperation with PR Human Resource Consultants is in the pleasant position to offer you the opportunity to interview for the position of the Junior Prop Trader. Kindly notice that this is NOT an offer for this position since further assessments and tests will be conducted for evaluation during the interview.
We have reviewed your qualifications and we are prepared to offer you an interview. We kindly request you read the remaining of this email thoroughly before responding.
Please note the amount of time each trader devotes to the position is different. Therefore the position can be either part time or full time; and at the same time it can be combined with another career or school depending on the trader’s current schedule.
YESFX Ltd is pleased to offer you an interview for the Junior Prop-Trader with a YESFX individual trading account of €50,000. In order to proceed with the hiring process we need to complete an online Skype interview [Skype id YESFX_LTD]. If our Human Resources Department is satisfied with the interview you will receive further instructions. The position, if offered to you, can be combined with current employment or school. The interview will be arranged as soon as you respond to this email.
The position of Junior Prop Trader offers the following:
· A €50,000 live account [successful candidates will use their personal strategies combined with YESFX money management rules to trade this account]
· Access to YESFX Traders online community of professional prop traders. This will allow you to interact with your colleagues. The online community will offer online seminars and Q & A live chat sessions.
· Monthly income based on performance. You will receive 50% of all monthly gains.
Please be advised that we require you to utilize your own Trading System in combination with YESFX money management trading rules as seen below:
· Minimum trade per day: 1
· Maximum trade per day: 3
· Minimum or Maximum position size per trade: 100.000 (1 lot)
· Intraday positions: All positions must be closed before the end of the trading session.
· Maximum daily loss: €900
· If dropdown of 10% (€5000)occurs in the account, the trader will enter monitoring and we have the right to terminate the contract
· Instruments: Eurusd, gbpusd, audusd, eurgbp, usdcad, usdjpy, eurjpy, gbpjpy, euraud
· European and American Trading Sessions
You will have a chance to ask any questions regarding the above rules during the interview.
Successful candidates will be asked to provide the following information in order to proceed with the hiring process:
· A valid copy of your passport – in order to prepare the ‘Partnership Agreement’ (sample of the agreement, do not print, read only).
· A one-off payment of €1450 entry fee which will cover:
1. Legal Admission fees
2. Your own Execute Trader
3. Access to one on one chat sessions with our instructors
4. Access to the YESFX Traders online community [live webinars and forum]
5. Processing fees for all future withdrawals [does not include Bank Charges]
The entry fee is required upfront for the above reasons and cannot be requested to be deducted from future gains. Even though we have concluded certain candidates have a high chance of success our main priority is the viability of our international program. Since there is no guarantee that everyone we hire will be profitable, we need to cover legal costs upfront in order to keep the program alive for people internationally.
· Once you provide us with the above, we will then prepare the agreement and forward it to you for signing.
Once you start trading with YESFX Ltd you will be allowed to withdraw any profits generated from intraday FX-trading at the end of each month. For example, once your total amount of profits exceeds €800 your performance fee will be 50% thereof (that is €400).
Upon completion of the above steps you will be authorized to start trading for us within 48 hours if you are selected. Please note that the normal working hours for intraday FX-trading is from 09:00-19:00(unless otherwise specified) [EET – Eastern European Time]. Our trades are placed online through our software. We will provide links and further details once the Partnership Agreement is signed.
We kindly request that you respond within 48-hours upon receiving this email in order to schedule your online interview. In the event that you don’t, your application process will be terminated. For more information regarding this position you can visit our website at:
http://www.yesfx.com.cy/trader
Also, please note that I have attached a FAQs pdf for your convenience.
In case you have any further questions do not hesitate to contact us directly via email or to the numbers listed at the bottom of this email.
Follow us on LinkedIn, Twitter, YouTube and Facebook to learn more about us!
Best Regards,
Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director
yesfx outlook
22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus
( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail [email protected]
? URL www.yesfx.com.cy
The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
From: bishara haj [mailto:[email protected]]
Sent: Wednesday, May 04, 2016 10:27 AM
To: Kyriakos Charilaou
Subject: Re: yesfx prop trader application
Dear Mr. Kyriakos,
Thank you for the kind opportunity!
I have included the Analysis Template in this Email, Please have a look. I Hope the analysis you find it well, I do have experience in trading in Indices as well.
Kind Regards,
Bishara Haj
Sent: Wednesday, May 04, 2016 at 9:05 AM
From: "Kyriakos Charilaou" <[email protected]>
To: [email protected]
Subject: yesfx prop trader application
Dear Mr Bishara Haj,
Thank you for your CV/application submission for the position of the Remote FX Prop-trader at YESFX.
Your profile skills seem to match the criteria we are looking for the position of the FX Prop-trader at YESFX.
However, in order for me to better assess your technical analysis and FX trading skills and in order to properly assess if you need training or not, I hereby attach a “Traders template” which you are required to use to perform the following:
1. Perform an intraday technical analysis (use 1-hour chart) on ANY FX pair you like
2. Clearly state your entry level for any long/short positions you recommend
3. State your stop loss and take profit levels for the position advised above
4. In no more than 5-6 lines briefly describe/comment on the strategy you have followed for above position recommended
Note: You have more probabilities to be invited for an interview if your trade analysis is profitable rather than resulting in a loss.
Best Regards,
Kyriakos Charilaou, CMT, CFTe, MSTA
Technical Analyst / FX Trader, Director
yesfx outlook
22 Nicosia Aven. , office 202
2018 Strovolos,
Nicosia,
Cyprus
( Tel (+357) 7000 22 15
È Mob (+357) 7000 7110
Ê Fax (+357) 7000 22 16
* Mail [email protected]
? URL www.yesfx.com.cy
The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
If likley I get loads email and might not too much important in my view usually will only delete messsage from inbox,
In forex business I am ever hear any trader they faced with problem to broker because his account bloked and he can't do anything all reason declined by company
In forex business I am ever hear any trader they faced with problem to broker because his account bloked and he can't do anything all reason declined by company
Prop Trading
Hi,
I didn't read the whole thread but I thought I would give you my thoughts. I am CEO of a small capital management company and we trade spot FX, indices and CFD's. I have been trading for 8 years. I trained at Amplify Trading in London (where I am based) which is a Prop shop with pedigree and links to further education. One of its objectives is to train young Traders to pursue jobs in the City or further education. It is not free to trade there and as with most reputable Prop Trading firms, they are well set up with a significant investment in systems and people. Thus, as with the Banks, you pay for your position. While I don't know about the company being discussed in this thread, an investment in them (and that is what it is) should be treated like any other investment; This means that you need to value the expected returns versus your investment. In this case, it involves comparison with other Prop Shops, carefully analysing audited results, looking at their annual accounts to see where they make their money etc. Most of all, its about whether they can help you fulfil the list of career objectives that you have carefully defined. If you are determined to become a top Trader, read "the way of the Turtle" by Curtis Faith. Then diligently follow his "rules" with ruthless efficiency. Finally, get a system that has an edge in the market. You dont need to look much further than Forex Factory or the TSD forum for a system that will fit your needs and wins more than it loses. Or you can get an expensive bunch of Banking trained Analysts like we do! Whatever you do....be lucky!
Hi,
I didn't read the whole thread but I thought I would give you my thoughts. I am CEO of a small capital management company and we trade spot FX, indices and CFD's. I have been trading for 8 years. I trained at Amplify Trading in London (where I am based) which is a Prop shop with pedigree and links to further education. One of its objectives is to train young Traders to pursue jobs in the City or further education. It is not free to trade there and as with most reputable Prop Trading firms, they are well set up with a significant investment in systems and people. Thus, as with the Banks, you pay for your position. While I don't know about the company being discussed in this thread, an investment in them (and that is what it is) should be treated like any other investment; This means that you need to value the expected returns versus your investment. In this case, it involves comparison with other Prop Shops, carefully analysing audited results, looking at their annual accounts to see where they make their money etc. Most of all, its about whether they can help you fulfil the list of career objectives that you have carefully defined. If you are determined to become a top Trader, read "the way of the Turtle" by Curtis Faith. Then diligently follow his "rules" with ruthless efficiency. Finally, get a system that has an edge in the market. You dont need to look much further than Forex Factory or the TSD forum for a system that will fit your needs and wins more than it loses. Or you can get an expensive bunch of Banking trained Analysts like we do! Whatever you do....be lucky!
What is it like to be YESFX junior trader?
First of all let me introduce myself a bit. I`ve been involved with FX market and trading since 2006. From this point on I`ve learnt and used very different strategies/approaches for trading. I have done mainly medium-term as well as short-term trading. Trading has never been sole activity or main income for me and due to its lonely character I`ve always kept my eyes opened concerning partners to trade and develop together - individual as well as institutional partners. This time YESFX happened to be on my way. I was contacted through LinkedIn by Mr. Kyriakos Charilaou as representative of YESFX LTD who introduced me their services. I had no information about this company, Google also didn`t help me a lot and due to curiosity I decided to try out their services. I applied to junior trader position and I was accepted. After making initial deposit (1450€) the contract was sent for signing and I became trader of YESFX. Now after trading 4 months for them I can give you quick overview based on my own experience.
Junior traders use their preferred platform or software for analyses and pass their written orders through messenger to executing trader of YESFX to place trades for them. I was told on interview that usually trades are executed within some seconds after forwarding orders . This statement is a bit too optimistic but usually execution was not too bad either. Though, we are talking about intraday trading and even while writing or passing the order, your opportunity may have been already vanished, leaving out this fact... some trades are better than another concerning trade timing which gives lower risk and great potential gain, I noticed that when you really find one at last you are also likely to face decent delay in execution.
Trade volume is always 1LOT. Market is never the same therefore in my opinion and based on my experience trade size should also never be constant. Market may be flat extended period of time and only very small amount of pips are available no matter which pair to trade. These days are useless concerning making any profit or covering up previously obtained losses in case there is no chance to determine trade volume based on market conditions. Another time market may be extremely volatile and using constantly 1LOT trade size does not even give fair place to set stop loss while using maximum allowed risk (max 900€ per day) per one singe trade - overall, in my opinion this rule makes your profitable knowledge useless in a long run - also the "run" is not so long either because YESFX wants to see result straightaway or they try to get rid of you. I don`t know, maybe their intention is to get rid of everybody either way.
In my opinion their emphasis was more in promoting their company and services than paying attention to their trader`s success. Some guy from YESFX contacted me continuously through e-mail and asked to perform promotional video interview. You can find such kind of videos from their website, produced by other traders. Also I was asked to perform technical analyses on daily basis to promote myself as trader as well as company. I was told repeatedly that performing analyses is mandatory. I replied that I would like to keep my attention where it supposed to be, trading results is the most important and I am not interested in promoting myself as a trader.
After 1st month of trading I got written warning from Mr. Kyriakos Charilaou for insufficient performance due to my account was slightly in negative territory. Also in this mail it was stated that if my account will not turn positive during next three month my contract will be terminated. No word in contract about term which says that you certainly have to show positive balance after 4 month of trading or agreement will be terminated.
There is traders` back office (online web based environment) where traders can log in with their unique username and password to see their trading history. Trading history is updated every day after trading session, yes... not after every trade but after trading session. It means that you don`t have opportunity to see during trading day how much you have already won or lost and if you don`t keep your own diary it is going to be deadly. Why don`t they have rule that once the max daily loss has been exceeded trade will be just closed and you can`t trade at the same day anymore? Instead of this your contract will be terminated immediately. Also during 4 months of trading I never saw mistake by them which was in my favour, but it happened repeatedly in YESFX favour. For example when I kept my trade opened till the end of trading session and trade was supposed to be closed with market price at session closing, several times I got the worst possible price. Once they messed up my orders and as a result I was losing more than 900€ per day. They quickly resolved this mistake once I let them know that I am keeping diary and trading by executing trader of YESFX has not done based on my orders. If I didn`t pay attention I would have been out of game. Did it happen accidentally?
I kept always diary about my trades during trading session and I did calculations all time in order to obey money management rules. It was the end of 4th month from the start of trading, my account was positive at this moment when I had a losing day and I got letter from Mr. Charilaou after trading session which said that I have ignored money management rules - max daily loss of 900€ has been exceeded and my account has been terminated, loss was stated to be €904.41. I checked my calculations again and based on these my loss for the trading day was less than 900€. I told to Mr. Charilaou that I am not happy with this situations and my calculations show something else. I asked him to send me calculations to validate their statement due to my numbers didn`t match with theirs. I used software for keeping records and in real time calculated pip values were used. It looked like they used another pip values because based on their estimation losing positions were bigger. No calculations were sent to me, instead of it I was offered to carry on trading till the end of 4th months. After this losing day which almost got my contract terminated, my account was slightly negative and I had 4 days to trade and cover up my losses. Well, I didn`t manage to do it and they had wonderful opportunity to say goodbye and terminate my contract. Though, contract didn`t say anything about 4 months period for estimating trader`s performance.
I was not able to log into back office to see trading history after my agreement was terminated. I asked Mr. Charilaou to send me order history passed by me through messenger as well as detailed track record to make sure that YESFX has acted based on rules set in contract. I got answer from Mr. Charilaou that my trading history has been deleted after my contract was terminated. End of story.
First of all let me introduce myself a bit. I`ve been involved with FX market and trading since 2006. From this point on I`ve learnt and used very different strategies/approaches for trading. I have done mainly medium-term as well as short-term trading. Trading has never been sole activity or main income for me and due to its lonely character I`ve always kept my eyes opened concerning partners to trade and develop together - individual as well as institutional partners. This time YESFX happened to be on my way. I was contacted through LinkedIn by Mr. Kyriakos Charilaou as representative of YESFX LTD who introduced me their services. I had no information about this company, Google also didn`t help me a lot and due to curiosity I decided to try out their services. I applied to junior trader position and I was accepted. After making initial deposit (1450€) the contract was sent for signing and I became trader of YESFX. Now after trading 4 months for them I can give you quick overview based on my own experience.
Junior traders use their preferred platform or software for analyses and pass their written orders through messenger to executing trader of YESFX to place trades for them. I was told on interview that usually trades are executed within some seconds after forwarding orders . This statement is a bit too optimistic but usually execution was not too bad either. Though, we are talking about intraday trading and even while writing or passing the order, your opportunity may have been already vanished, leaving out this fact... some trades are better than another concerning trade timing which gives lower risk and great potential gain, I noticed that when you really find one at last you are also likely to face decent delay in execution.
Trade volume is always 1LOT. Market is never the same therefore in my opinion and based on my experience trade size should also never be constant. Market may be flat extended period of time and only very small amount of pips are available no matter which pair to trade. These days are useless concerning making any profit or covering up previously obtained losses in case there is no chance to determine trade volume based on market conditions. Another time market may be extremely volatile and using constantly 1LOT trade size does not even give fair place to set stop loss while using maximum allowed risk (max 900€ per day) per one singe trade - overall, in my opinion this rule makes your profitable knowledge useless in a long run - also the "run" is not so long either because YESFX wants to see result straightaway or they try to get rid of you. I don`t know, maybe their intention is to get rid of everybody either way.
In my opinion their emphasis was more in promoting their company and services than paying attention to their trader`s success. Some guy from YESFX contacted me continuously through e-mail and asked to perform promotional video interview. You can find such kind of videos from their website, produced by other traders. Also I was asked to perform technical analyses on daily basis to promote myself as trader as well as company. I was told repeatedly that performing analyses is mandatory. I replied that I would like to keep my attention where it supposed to be, trading results is the most important and I am not interested in promoting myself as a trader.
After 1st month of trading I got written warning from Mr. Kyriakos Charilaou for insufficient performance due to my account was slightly in negative territory. Also in this mail it was stated that if my account will not turn positive during next three month my contract will be terminated. No word in contract about term which says that you certainly have to show positive balance after 4 month of trading or agreement will be terminated.
There is traders` back office (online web based environment) where traders can log in with their unique username and password to see their trading history. Trading history is updated every day after trading session, yes... not after every trade but after trading session. It means that you don`t have opportunity to see during trading day how much you have already won or lost and if you don`t keep your own diary it is going to be deadly. Why don`t they have rule that once the max daily loss has been exceeded trade will be just closed and you can`t trade at the same day anymore? Instead of this your contract will be terminated immediately. Also during 4 months of trading I never saw mistake by them which was in my favour, but it happened repeatedly in YESFX favour. For example when I kept my trade opened till the end of trading session and trade was supposed to be closed with market price at session closing, several times I got the worst possible price. Once they messed up my orders and as a result I was losing more than 900€ per day. They quickly resolved this mistake once I let them know that I am keeping diary and trading by executing trader of YESFX has not done based on my orders. If I didn`t pay attention I would have been out of game. Did it happen accidentally?
I kept always diary about my trades during trading session and I did calculations all time in order to obey money management rules. It was the end of 4th month from the start of trading, my account was positive at this moment when I had a losing day and I got letter from Mr. Charilaou after trading session which said that I have ignored money management rules - max daily loss of 900€ has been exceeded and my account has been terminated, loss was stated to be €904.41. I checked my calculations again and based on these my loss for the trading day was less than 900€. I told to Mr. Charilaou that I am not happy with this situations and my calculations show something else. I asked him to send me calculations to validate their statement due to my numbers didn`t match with theirs. I used software for keeping records and in real time calculated pip values were used. It looked like they used another pip values because based on their estimation losing positions were bigger. No calculations were sent to me, instead of it I was offered to carry on trading till the end of 4th months. After this losing day which almost got my contract terminated, my account was slightly negative and I had 4 days to trade and cover up my losses. Well, I didn`t manage to do it and they had wonderful opportunity to say goodbye and terminate my contract. Though, contract didn`t say anything about 4 months period for estimating trader`s performance.
I was not able to log into back office to see trading history after my agreement was terminated. I asked Mr. Charilaou to send me order history passed by me through messenger as well as detailed track record to make sure that YESFX has acted based on rules set in contract. I got answer from Mr. Charilaou that my trading history has been deleted after my contract was terminated. End of story.
What do you guys think is there a point to get touch with financial ombudsman or should I just admit my fault regarding doing business with puny company? Anybody has experience with claims like this? Maybe it is not worth it but I just don`t like the whole story and that`s why I`m sharing my experience as well as thinking about making claim against them.
from a prop trader
saw an ads from Linkedin posted by YesFX and immediately did a research on them as their requirements interest me lol. after reading the posts in this forum, I decided to share my personal experience and hopefully provide more insights to people out there how a genuine prop trading firm conduct their business,
This is my first post after years of been a T2W member. So bear with me lol
Just a short intro about myself, I have been trading futures full time since 2010 as a prop trader with a proprietary trading firm in Singapore.
joined the firm with NO PRIOR trading experience, the only thing that convinced my bosses is my desire to succeed (according to them). there is no upfront fees and my bosses who are accomplish traders since the floor trading era (floor trading was abolished in Singapore) show me the rope to their trading methodology. I was given a small stipend monthly, enough to cover daily meal expense I suppose. I did demo trading for about 3 months, and then proceed to live. The initial few months trading live was tough....and had an accumulative loss of about 5-6k USD by the end of 2nd month. My bosses was patient though, and their patience pay off, I started to make small money (about $100-$300) consistently on the 3rd month and by the 6th months about $1k average as I increase my trading size. As a prop trader with the firm there are some costs that will affect my payout:
(1) Commission - is usually lower than what the public can get due to our huge trading volume hence is generally very competitive. I do heard of some prop firms charge a "premium" o top of what their broker charge them but thankfully, this was not the case for me.
(2) Platform cost - I am using TT for my trading and was been charged a monthly fee for it
(3) desk fee - the rental cost of the workstation in the office
(4) Margin - cost for holding on the futures position impose by the broker.
While I did not work with YesFX directly or indirectly, I personally does not recommend working with a prop trading firm which impose a fee to their new recruits. There are similar cases in Singapore where some prop firms charge additional cost such as an upfront fee, front run your trades or a "premium" on top of the various costs I mentioned above, but these prop firm are generally more interested in "milking" the traders rather than grooming them.
The rationale of why genuine prop firms such as the one I am in, invest in traders like us, is because :
(1) They are confident in their trading methodology and hence the profit a successful trader make will more than offset those that failed.
(2) They hope that by investing while you are learning, you will be grateful and loyal to the firm once you are consistently profitable.
(3) your losses at the initial stage as limited by your trade size or account is actually negligible relative to the firm's profitability.
hope that this will help people in choosing the right prop firm to work with.
Please excuse me if there is another grammar mistakes etc, as it is 2:35am over here.cheers~~~
- Adrian
saw an ads from Linkedin posted by YesFX and immediately did a research on them as their requirements interest me lol. after reading the posts in this forum, I decided to share my personal experience and hopefully provide more insights to people out there how a genuine prop trading firm conduct their business,
This is my first post after years of been a T2W member. So bear with me lol
Just a short intro about myself, I have been trading futures full time since 2010 as a prop trader with a proprietary trading firm in Singapore.
joined the firm with NO PRIOR trading experience, the only thing that convinced my bosses is my desire to succeed (according to them). there is no upfront fees and my bosses who are accomplish traders since the floor trading era (floor trading was abolished in Singapore) show me the rope to their trading methodology. I was given a small stipend monthly, enough to cover daily meal expense I suppose. I did demo trading for about 3 months, and then proceed to live. The initial few months trading live was tough....and had an accumulative loss of about 5-6k USD by the end of 2nd month. My bosses was patient though, and their patience pay off, I started to make small money (about $100-$300) consistently on the 3rd month and by the 6th months about $1k average as I increase my trading size. As a prop trader with the firm there are some costs that will affect my payout:
(1) Commission - is usually lower than what the public can get due to our huge trading volume hence is generally very competitive. I do heard of some prop firms charge a "premium" o top of what their broker charge them but thankfully, this was not the case for me.
(2) Platform cost - I am using TT for my trading and was been charged a monthly fee for it
(3) desk fee - the rental cost of the workstation in the office
(4) Margin - cost for holding on the futures position impose by the broker.
While I did not work with YesFX directly or indirectly, I personally does not recommend working with a prop trading firm which impose a fee to their new recruits. There are similar cases in Singapore where some prop firms charge additional cost such as an upfront fee, front run your trades or a "premium" on top of the various costs I mentioned above, but these prop firm are generally more interested in "milking" the traders rather than grooming them.
The rationale of why genuine prop firms such as the one I am in, invest in traders like us, is because :
(1) They are confident in their trading methodology and hence the profit a successful trader make will more than offset those that failed.
(2) They hope that by investing while you are learning, you will be grateful and loyal to the firm once you are consistently profitable.
(3) your losses at the initial stage as limited by your trade size or account is actually negligible relative to the firm's profitability.
hope that this will help people in choosing the right prop firm to work with.
Please excuse me if there is another grammar mistakes etc, as it is 2:35am over here.cheers~~~
- Adrian
It's a pity that such companies exist and are still working...
