Updated on January 22, 2024
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In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding YesTrading due to the issues we've identified.
Is YesTrading Scam or Legit Broker? ▲
Diamond Global Ltd, operating under the brand name YesTrading, has raised considerable suspicion as a potentially fraudulent forex and CFD brokerage. The firm claims to offer online currencies and CFD trading services but is registered in the Marshall Islands, a jurisdiction known for its lax regulatory environment. This offshore registration does not come with any legitimate authorization or licensing to conduct financial services, significantly increasing the risk for traders.
Registered in: Marshall Islands
Type of License: Offshore License
Is YesTrading safe to trade: No
Recommended Licenses: FCA in the UK & ASIC in Australia
YesTrading, owned and operated by Diamond Global Ltd., is a forex and CFD broker with its registration in the Marshall Islands. This offshore location is a critical red flag due to the lack of stringent financial oversight. The absence of a physical address and reliance on Norwegian and Irish phone numbers for contact points to a strategy targeting European clients without the necessary registration or authorization to provide financial services in Europe or elsewhere.
Trading with a broker that lacks regulation from a reputable financial authority exposes traders to unnecessary risks. For a broker to obtain an STP license from the Financial Conduct Authority (FCA) in the UK, for instance, it must demonstrate a capital reserve of at least EUR 125,000 and maintain a physical office within the UK. These requirements are designed to protect traders and ensure broker reliability, criteria that YesTrading does not meet.
Given the significant concerns surrounding YesTrading's regulatory status, offshore registration, and lack of transparency, we strongly advise against opening a trading account with this broker. The importance of trading with a broker regulated by respected global authorities cannot be overstated. Such regulation ensures adherence to strict rules and standards, ultimately protecting the trader's interests.
Traders should seek out brokers regulated by stringent authorities like the FCA in the UK or the ASIC in Australia.
YesTrading Update
Our most recent findings indicate that the YesTrading website is no longer active, rendering the broker effectively inoperative. This development further underscores the risks associated with dealing with unregulated brokers. While the broker may no longer be active, vigilance is advised to avoid falling prey to similar operations in the future.
When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.
YesTrading Review 2024
Triton capital market is total fraud. Do not invest a single money in their company. I nearly lost a huge amount of my life hard earned money to Capital markets trade they’re a 100% scamming operation! I almost lost $86,690.00 to them in just over a month and it wasn’t from bad trades. My trades were actually showing a profit of just under $10,500.00 USD within a week. They quickly ask for more money to withdraw, but then I realized it was all scam. So I didn’t hesitate to file a refund case against them through the help of the recovery expert Mr Raymond Willard and his email is (raymondwillard08@gmail.com) the reason why I’m sharing this post here is because, I’m so grateful he helped me get my life back. If you are a victim of this online scam he can help you get your money back like he did for me.
Scammers, don’t waste your time and your money it’s all scam they will take all your money and disappear. I was scammed by those crooks luckily getting my money back was possible with the help of curtis howard 270 @ gmail . com, kindly contact him if you are having issues in withdrawing your money from your investment broker.