Review of yadix – Forex managed account…..
Here are the reviews….
Cor blimey! Once I get something in my head I just can’t let it go. OK the first thing I saw on the yadix website was ‘scalping’. Did it used to be bad and now it is fine? Or does it just sound bad? I don’t know. I will have to start my research there!
So one meaning is this “take the scalp of an enemy” well that doesn’t sound good! Another meaning is “someone who buys things, such as theatre tickets, at the usual price and then sells them, when they are difficult to get, at much higher prices”…. Still feeling robbed! Let me have a look at the meaning when it is referring to trading…. “Holy Mary, mother of Jesus” as my mother would say. I still don’t like it. I found this on Investopedia “It is thought that automated trading takes human psychology out of trading, which is important in forex scalping because the fast-paced environment can be hard for traders to stomach”
So, ultimately scalping is this, taking a big position using leverage so that a small change can make a big profit. Couldn’t that small change make a big loss though? I should just stop now, but I won’t jump to conclusions, I will look further into yadix and see what else I can find.
Negative Balance Protection – is this real?
Well yadix do offer the security of negative balance protection, so if there is another crash, I can’t get any worse than zero in my account. It may sound crazy, but trading with leverage means that if a trade crashed so quickly that it dropped through the stop loss, I could end up owing them money!
Ooh I don’t know. There is an option for Indonesian language on the site. I just don’t think I want to be that far out of my comfort zone… and is the other option Russian? Hmmmm! Well they are fully audited and regulated and I could start trading myself from $100 in 5 minutes so I suppose it wouldn’t break the bank. Still in less than 5 minutes if I wanted to enter their managed trading then it is minimum $500 investment, with a performance fee of 20-40%.
There is an offer on the yadix website for a reduced performance fee for 12 months, 10% performance fee for investments of over $5000 USD and 15% performance fee for investments under $5000 USD. Impressive! One thing I like is to be able to easily access the performance results on the webpage which with yadix I was able to do. Of course, simply being able to see them doesn’t mean they are real, so that will take a little more enquiry, but it sits well with me, when a regulated company adds something to their website, I imagine it must have to be approved by their regulatory body.
Belize is in Central America and yadix has clear regulatory details and disclaimers on their page, from the International Financial Services Commission (IFSC), who are quite new to the international financial services industry.
When I started my search to find a managed trading provider or traders to trade my account I found it difficult to find good reviews so I have taken this opportunity to help the next person who is on the same search as I am. To save them some time and effort and hopefully allow them to evaluate what different companies offer and how at times it can all seem and sound similar.
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The major part of my initial search is to see what information can be gleaned from the website and reviews, before they get onto my shortlist and I start contacting them. They have good and bad reviews, I think I would have given yadix a 3 out of 5 but for me, as they are not based in the UK (and they are scalpers) then it will have to be a 2.