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Yesoption shutting down

JonHaltoJonHalto Posts: 27 ✭
in Brokers
Just as an information for those that use Yesoption. Yes - it is shutting down.
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Comments

  • r6racerr6racer Posts: 10 ✭
    Any reason why? I'm waiting on a withdrawl to be processed.
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  • rocket_city_traderrocket_city_trader Posts: 2 ✭
    JonHalto - How did you learn about them shutting down? How reliable is your intel? I'd hate to start to start withdrawing too early, yet would hate it more if I missed the opportunity to withdraw at all! Thanks for any further insight/explanation.
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  • lotzofbotzlotzofbotz Posts: 1,552 ✭✭✭✭
    I hope they don't run away with your money but if they do will serve as a good warning for these bucketshop small sized brokers, but lets WAIT and SEE...
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  • JonHaltoJonHalto Posts: 27 ✭
    edited January 2015
    I am with a service and one of the traders there informed us about it. He was finally able to skype his account manager and she is already send home along with many other staff. So i think the info is pretty accurate. It was bought. I think darian scott has a youtube video on this also if
    you wanna check...
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  • r6racerr6racer Posts: 10 ✭
    Found it: https://www.youtube.com/watch?v=GTSi140U4Eg

    I don't understand why my initial deposit is taking so long to get back. They're starting to piss me off. It's been two weeks and just excuses for me.
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  • JonHaltoJonHalto Posts: 27 ✭
    Appearatly they got bought. So although they dismissed some of their workers - their doors will remain open. At least thats the latest talk that I heard...
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  • rocketcitytraderrocketcitytrader Posts: 1 ✭
    Is there any update to the YES Option situation? The platform is still up and running, so maybe things will stabilize soon? (That's a hope!)
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  • RCoombsRCoombs Posts: 10 ✭
    The changed ownership and appear to have dumped some of their previous affiliates but they still seem to be operational.
    BBOS
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  • rocket_city_traderrocket_city_trader Posts: 2 ✭
    This is interesting. I was finally online when the Chat feature of YESOption was manned. Below is the exchange I had with the customer service rep (Tina). The bottom line seems to be: (1) They are not accepting new US traders (probably because of wanting CySec regulation?); (2) their cool PayPal feature is gone; and (3) even though existing US traders can still trade and withdraw, they cannot deposit. Go figure that!

    Does anyone have any additional insight on all this?
    --------------------------
    Me:
    I've posted a couple of emails and have yet to get a response. I'm a US trader. Since PayPal is no longer a deposit/withdrawal option (which is how I funded my account originally), what is the mechanism for making a withdrawal?
    Tina:
    hello,
    Tina:
    We don't accept U.S clients anymore
    Tina:
    but you can make a withdraw..what is your username?
    Me:
    xxxxx.
    Tina:
    hold on a sec
    Tina:
    since we don't work with paypal either, you will going to have to wire transfer your money from your account
    Me:
    OK. But before we get to that -- I understand not accepting new US traders. But as an existing client, am I still allowed to keep the account active and to trade on the platform?
    Tina:
    yes you can do that
    Me:
    OK. If I make an additional deposit via credit card, could future wihdrawals be put back to that card?
    Tina:
    you cannot make any other deposit
    Tina:
    you can continue trading with the balance that you have
    Me:
    What? Why?
    Tina:
    because as i told you we don't accept anymore U.S. clients, which means that we cannot accept any further deposits..but since you have already an account and had made a deposit long time ago, you can continue trading or withdraw your money
    Me:
    OK. I understand. I wish I could put more into the account -- is there absolutely no way to do that?
    Tina:
    no there is no way to do that
    Tina:
    i am really sorry
    Me:
    OK. Thanks for the help today. -Bye.
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  • jerryjerry Posts: 9 ✭
    They probably shut it down for US traders only. The website is still working.
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  • jon56bjon56b Posts: 1 ✭
    They are bad news. They kept pressuring me to put in more and more money. When they thought I wasn't going to deposit any more, they quickly helped me to lose it all. Even though in December 2016 they claimed to guarantee your asset. When I pointed out their supposed guarantee, they said that I didn't follow the instructions I was given by the dealer. Lies. That was actually the reason I lost everything, I trusted him too much. I never got a cent back, even after the promise of a win after a trade. If that's not enough, some arsehole rings you up after they've gotten your balance down to zero, and wants you to hand over more money as a fighting fund to get your initial investment back
    I believe it's a big con, to get people to hand over their money. If you decide you still want to give it a try, start off small and don't EVER borrow money (as they suggest you do). When you have enough to cover your initial investment, withdraw it. So you're playing with their money. And don't ever be conned by their unsubstantiated claim that someone else, who had invested more money, was a big winner. It's all a big con so that these leaches can suck more pof your well earned money out of you.
    If you have spare money, and want to get a decent return, buy Australian bank shares. They are safe and pay good, franked dividends.
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