The brokerage organization promises potential clients a “lucrative experience in rising and falling markets” through CFD/Forex trading with a “team of top financial advisors”. According to the website, the project was launched in 2009. However, the firm does not disclose its address, the names of the owners, or whether it has a license.
Can you entrust your capital to such a brokerage company or not? Is this project reliable? You will find out what this online broker is all about from our Yuminex review.
How to Trade
Clients can earn on the WebTrader platform using a PC or mobile device. The firm offers the following trading conditions:
- Forex, CFDs on commodities, stocks, indices, and cryptocurrencies.
- 3 trading plans.
- Transaction fees $50, withdrawal processing fee $10, and 10% for inactivity.
The broker does not disclose the size of the minimum deposit, spreads, leverage, or other important parameters. The company promises to keep clients’ money on different accounts, but does not provide bank details.
News and Market Events, Training and Coaching sections are available on the site. The broker promises customer support via phone, email, Twitter, or chat. However, in the Contact Us section, only a feedback form is available.
Yuminex Vital Info
The organization states the date – 2009, when it began its activities. Should we trust this undocumented information? We decided to find out the truth by checking when the website’s domain was created. It turned out that it was registered only in August of 2024. That is, the broker started serving clients less than six months ago.
Where is the office of this company? Does it have a license? In the user agreement, we found a mention of Estonian jurisdiction. The organization reports that it operates in accordance with Estonian laws. However, a check of the financial commission’s registry in this country was inconclusive. In addition, the Yuminex brand is not listed in the official Estonian legal entity registry, nor is it listed in the global database of registered companies.
Initially this broker attracted me with a relatively small spread - 1-1.2 pips on average (I chose it based on this parameter, as I am interested only in scalping). But later I discovered a lot of additional advantages of Yuminex: withdrawal of money in almost a couple of minutes (I checked it personally), excellent analytical portal, no platform freezes, no problems with stops and other problems that are often encountered on "scam projects". One of the disadvantages is the lack of the ability to choose an account with pre-determined conditions. An account with a lot of 0.01 and a deposit of $10 is the only option for beginners. Other Yuminex accounts allow trading from 1 lot with a deposit of $5,000 or more - not every trader can fulfill such conditions.
I cannot imagine how you can trade on this platform. Firstly, it constantly disables access to the site, which is not very convenient. Secondly, yuminex has a focus only on Germans, if you have a problem with your trading, yuminex managers will not deal with it. Thirdly, trading crypto pairs is minimized, mostly top coins. Fourth, the volumes are very low on yuminex.io, trading on them is unrealistic. Avoid them!
I can say that there is nothing good about this broker. I wish someone had warned me not to contact this broker. Therefore, I lost 5,682 euros. The company almost immediately froze my account as soon as I topped up my account and started trading with profit, and the support is unwilling to explain to me the reason. So I was left without money! In general, YUMINEX is scammers and con artists, not a brokerage resource. I am leaving a review to help other people. I hope that after reading it, you will not make any mistakes.
The site seems dodgy to me, but the interesting cryptocurrency offer is certainly appealing. After meeting the Yuminex managers, I realized that I should listen to myself and not meddle where I shouldn't. So, my conclusions: the support service is not distinguished by a special zeal for work; managers immediately disclaimed responsibility for the loss of my money (when withdrawing it is also lost on huge commissions); I never understood what is the minimum deposit in yuminex.io, different consultants named different amounts. Everything is vague here, and I dared not even start trading. I do not advise you to do the same.
I got acquainted with this broker recently, but I didn't find any disadvantages. True, I don't have enough experience, and now I invest small amounts, but so far everything is fine - Yuminex support service answers competently to any questions, withdrawal of money here is carried out without problems. For those who are getting acquainted with the trading conditions of this broker, I will give advice: do not look at what is written on the website. The fact is that Yuminex works with both clients from Europe and clients from other countries. However, the site is not adapted to meet the requirements of all regulatory bodies at the same time. To familiarize yourself with all the terms and conditions available to you, you need to register. And then you will see all the figures and rules available for your country - actual leverage, spreads, deposit/withdrawal options in your country. Amounts of commissions and spreads are stated only in the contract specification. All this was told to me by the support service when I got confused about the trading conditions on the broker's website yuminex.io.
These are scammers and crooks, not a brokerage company. A YUMINEX employee groomed me over the phone, I succumbed to the enticements and opened an account on the platform. I paid $4,600. In the first few days, the scammers created the illusion of real trading and even let me make some money. And then the misunderstandings started... Firstly, there are some strange debits. The support service explained that it was an account maintenance fee. I objected that no one warned about it in advance, and on the contrary, the consultants had claimed that there are no hidden commissions and fees on yuminex.io. However, my remark was ignored. I ordered the balance of funds for withdrawal, after which the operators banned my account altogether and stopped contacting me. I have been trying to call support for a week now, but without success...
This is not a crypto broker, but a regular "boiler room" that takes crypto traders' money. I had no problems registering an account with YUMINEX, funding my account and trading itself, no problems at all, but as soon as I started withdrawing the first part of my profits, these crooks from YUMINEX immediately froze my account and demanded verification. They have been verifying the documents I sent them for 4 months!!! The support team ignores my requests. I found out that this broker has been operating for only a few months, not more than 10 years, as the scammers write on their website!!! I suspect that the charts and volumes in the stock stacks of this "boiler room" are also fake. I lost over $740 :( From now on I will only trust top brokers with a proven track record.
I ran into a problem when withdrawing funds after two months of being in business. It turned out that I have to pay for funds insurance first! Why didn't the yuminex staff tell me this when I opened the account? What were they doing then at the time of counseling? Were they misleading me?!!!!! It turned out that I had to pay almost half of the 5.3 thousand euros I had invested in order to withdraw my own money. This was the first time I learned about the existence of yuminex phone support, before that I had only received answers to requests via the feedback form. I have never met more brazen scammers!!! I left the crypto exchange because of dubious services, and deposited all the capital on yuminex.io, as I heard only good reviews about crypto brokers. It turned out that no exchange is more dishonest than this fucking yuminex. Well I have lost my funds from my accounts on exchanges, there are delays in withdrawals, and so on, but no one will forbid you to withdraw the balance of your deposit on exchanges...
In my opinion, this broker is suitable for both experienced and novice traders. Yuminex has no initial deposit limits, the platform is easy to use and the choice of assets is quite wide. I deposited a small amount into my account and checked the withdrawal. The money was credited to my bank card within 24 hours.
The trading terminal is unstable and during the cooperation, which lasted only a month, the platform froze at least 20 times, and it was not only during the peak load, when important news were released, but also at normal times.
I cannot pass verification when withdrawing funds, it is impossible a priori. But when I funded my account with €1.3K, the money was quickly received by the broker and the support staff did not require verification at that time. Looks like this is a SCAM and the crooks won't give me my money back.