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.

Newbies have the opportunity to try their hand at a free demo account. Trading is conducted with virtual dollars, so there is no risk of losing real money.

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.


What are the key facts about Yorker FX?

There is no exact founding date, but the domain was registered in July 2023, indicating a short period of operation. The business model is not specified, leading to no doubt that we are dealing with a dealing center, where the company does not need the traders' success. The broker is registered in the offshore jurisdiction of Saint Lucia, but does not have any license, therefore the clients' funds are not protected. There is no regulation whatsoever.

What's the risk to my wallet when working with this broker?

One should not forget about the high risks associated with leverage, which here is up to 1:1000. Such leverage not only increases potential profit but also multiplies risks, and more than 70% of traders lose money in margin trading. Additionally, Yorker FX raises suspicions because it lacks reliability guarantees. It has no license, and its period of operation is less than a year. Furthermore, its business model has a conflict of interest, as the platform does not benefit from its users earning money. Manipulations are quite possible, up to the refusal to withdraw funds.

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