August 7, 2020

Yes Trading Review – Is Yes Trading Scam or Reliable Forex Broker?

yes trading review

Regulators: –

Cryptocurrencies: No

Minimum Deposit: $250

Maximum Leverage: 1:75

Spreads: High

My Score: 1

Yes Trading, still another broker I’ll review. At precisely the equal period, the binary options make with this broker additionally functions as Yes Option. I believe this Yes Trade review will probably be helpful for investors thinking about both the brands.

Yes Trading is just one of those recently established brokers, despite the fact that it’s reportedly always a long-established and older broker. The state internet site has hardly any visitors. Degree. In addition, the style of this state internet site is amateurish. Whenever you consider those dilemmas, they offer a remote perspective of professionalism.

Is Yes Trading scam or even a Fantastic broker? What are the trading conditions like account types provided by YesTrading and its own minimum deposit, and maximum leverage, disperse? You are able to obtain all the questions relating to this Yes Trading review. For those who have any questions or in case you might have a issue with this specific broker, you could discuss the comment section down from this report. But in the event you’re ready, let’s look at it together.

Regulation

One of the Most Significant standards for Forex traders would be regulation. Because in the event that you trade in untrue brokers, you won’t discover an authority to whine about issues you will encounter. Usually scam brokers function as untrue. I strongly recommend that you don’t open an account with unlicensed brokers.

It is a challenging process for newly established brokers to obtain licenses from reputable regulators. Because of this, these brokers usually prefer to obtain licenses from relatively less reputable regulators in the beginning. This is understandable and reasonable. They also offer better trading conditions for investors to close the gap. They usually offer a lower spread or minimum deposit.

According to the information contained in the official website, YesTrading is a brand owned and operated by Diamond Global Ltd which is registered in the Marshall Islands. But this company is not regulated and licensed in Marshall Island. Because there is not any authority to regulate forex or binary options in the Marshall Islands.

After all this, I can clearly state that Yes Trading is an unregulated broker and probably scam.

I would advise you to opt for brokers licensed from reputable regulators for Forex trading. For example; FCA in the UK is a reputable regulator all over the world.

Account Types Offered by Yes Trading

Yes Trading offers 6 different account types: Basic, Bronze, Silver, Gold, Platinum and Black. The main difference medially these account types is the minimum deposit amount and the welcome bonus ratio, as you can see in the table down from. Higher amounts of funding are illogical by choosing an upper account type. Because there is no other convenience apart from the bonus convenience.

Account type Minimum deposit Maximum leverage Welcome Bonus Spread
Basic $250 1:75 20% 4.4 pips
Bronze $1000 1:75 30% N/A
Silver $5.000 1:75 50% N/A
Gold $10. .000 1:75 60% N/A
Platinum $50.000 1:75 80% N/A
Black $100.000 1:75 100% N/A

The Basic account type is similar to the standard account type offered by other brokers. The minimum deposit for this account type is $ 250 which is quite high, considering that the industry average is $ 100. You can even find reputable brokers that require a many lower minimum deposit.

For other account types, the required minimum deposit is too high. The maximum leverage offered for all account types is 1:75. This leverage ratio is low for many investors.

Also the welcome bonus varies according to the minimum deposit. However, to obtain a 100% welcome bonus, $100,000 funding is required. In other brokers, you can find a bonus on many better terms. For more information on Bonuses and Promotions, you can read article on this topic.

Payment Methods

I can say that the deposit and withdrawal methods offered by YesTrading are sufficient. I accept this criterion as positive. You can use credit card and wire transfer. Of course, as with other brokers, the fastest way to make deposit and withdraw is a credit card. You can also use Skrill.

Yes Trading

1

Trust

0.0/10

Commissions and charges

2.0/10

Customer Service

0.0/10

Platform & Tools

0.0/10

Product Portfolio

3.0/10

Pros

  • No

Cons

  • Unregulated broker, likely scam
  • High spreads.
  • High Minimal deposit.