Offshore CFD broker Yorker FX, which calls itself global, claims to have 250,000 clients from 65 countries and an average review rating of 4.89 points. The firm is registered in Saint Lucia, but also talks about an office in Dubai, which is not confirmed. It’s also important to note the absence of a license and a precise founding date. Why does the company hide such important information? Is everything okay with it, and can such a platform be trusted?
How to Trade
Yorker FX provides access to the main classes of financial markets: forex, metals, indices, commodities, cryptocurrencies, and stocks. Trading can start with an initial deposit of $10, but this requires identity verification.
The leverage depends on the type of account, but the maximum is 1:1000. Yorker FX offers five tariff plans. The better the type of account, the higher the minimum deposit and better trading conditions. Technical support operates 24/5, and the popular MetaTrader 5 terminal is used as the trading platform. Spreads start at 1.5 pips.
Yorker FX Vital Info
Although the firm claims to have 250,000 traders, the number of reviews on the internet absolutely does not match, as there are almost none. This also hints at a short period of operation, which Yorker FX did not specify on its official website. However, the domain of the website was registered only in July 2023. Therefore, everything indicates that the firm has been operating since the summer of 2023, which is a short period.
The firm is registered in Saint Lucia, and such an organization exists in the company registry. However, the situation with regulation is different. Yorker FX does not have the appropriate license to legally conduct brokerage activities. The financial commission of the island of Saint Lucia does not regulate the activities of forex companies, so it does not protect the interests of traders. The organization also indicated an office in Dubai, but it does not have a license there either.
Yorker fx are scammers, deceiving people. yorkermarkets.com is a fake site created by anonymous fraudsters to steal money. Please, don't fall for it.
The withdrawal does not work. I figured it was a scam right away, but my friend thought he was the smartest, so he transferred $500 to the scammers. Now, he can’t even withdraw $100.
Last week I registered an account and deposited a small amount. So far, I am trading with 50 bucks. It seems pretty good. The managers don't call, so there are no annoying spam calls. The spreads are normal, I would say usual. The terminal is more or less good, you can do technical analysis, and I don't really need much else. The only thing left is to check the solvency of Yorker fx. Therefore, I’ll give a medium rating.
First of all, where is the license? A brokerage firm must obtain regulatory approval from the financial commission. Secondly, when was the company founded? Why is the founding date not mentioned and conveniently ignored? Thirdly, be careful because this is 100% a B-Book, meaning a fake broker. Fourthly, no reputation. There are very few reviews, and I don't see the platform being discussed anywhere. So many negatives with yorker fx, therefore you shouldn't trade here.
Some scam firm without a license. I do not trust unregulated brokers because such companies operate illegally. I recommend not opening brokerage accounts in places like Yorker fx. How can you trust an illegal scam? You can't. Besides, you must understand that the platform operates in such a way that it only earns when clients lose money. This is called a conflict of interest. For the company, profit is the loss of traders. So, what's the point of collaborating with Yorker fx if the platform only needs one thing – your losses? Think again, do you want to risk all your funds for nothing?
Those scoundrels! They deceived me! They promised premium service, reliability, low spreads, and even the MetaTrader 5 trading platform. But what was the outcome? Initially, I had trouble registering, then it seemed to work, I logged into my account without even needing to confirm the creation of the account via email. Next, I wanted to try MT5, but instead, they had some other terminal. I even bothered to check in MetaQuotes for Yorker FX's connection – it wasn't there! The company is not connected to MetaTrader 5. Then I did the most foolish thing – I transferred $200 to the scammers to start trading. It was the stupidest decision because I gave my funds to blatant fraudsters. They had already deceived me several times, but I still sent a deposit. Isn't that foolish? In short, it's impossible to get anything back, the withdrawal does not work. Such is the sad story of a scam. Now you know about another fraudulent organization.
I cannot comment positively about yorkermarkets.com because I myself fell for this trap and lost $2000. I took the scammers' word for it and invested $2000, activating the "Premium" tariff. I had expectations of some profitable cooperation and reliable earnings, but it turned out to be an illusion I fell for.
After a week of trading, I decided to withdraw part of the deposit because I needed the money. I submit a withdrawal request, but nothing else happens. The company simply does not send it. I tried to contact Yorker FX, but no response. They ignore me, and I don’t know what to do.
Please help. How can I influence the fraudsters to approve the withdrawal request? Or do I have no chance?
I wanted to write to their support as I dared not call their phone number, fearing a high cost for the call. So, their email turned out to be fake. Here, support@yorkermarkets.com, try checking it yourself using special services on the internet, and you will personally confirm that the email does not exist.
That's when I realized there was no point in trying to contact Yorker FX's managers, as a real and legal broker cannot have a non-existent email address. Usually, only scammers do this; they display fabricated contact details because it lends seriousness to their company. After all, what firm would be considered serious without contacts? Right? Yes. So, you can easily determine whether you are dealing with a scammer based on their contacts.
A classic scam, which is immediately obvious. There are no reviews, but the swindlers talk nonsense about hundreds of thousands of traders from 65 countries. Does anyone really believe such nonsense?
Yorker FX should first obtain a license and provide real evidence, and then talk about themselves. Nothing but fraud here.
If you don’t want to lose money and be deceived, then your path to Yorker FX is closed! Scammers are waiting for you to register, and then transfer a deposit. Then they will appropriate your money for themselves. Meanwhile, neither the police nor lawyers will be able to help you get your funds back. So, I advise you to forget about this pseudo-company and find a reliable broker with a huge list of licenses and extensive experience.
The fact that Yorker FX is indeed registered in Saint Lucia is a plus. Additionally, having an office in Dubai can also be seen as a positive sign. But why is there no license? Can a broker legally operate without a license? I think not.
The trading conditions are sweet, but there are big questions about reliability. I'd rather not risk it than later tear my hair out over a scam.