Yes Markets Review 2024: Say Yes to Trading or Goodbye to the Broker?
After searching the web for some quality brokers, we stumbled upon this broker and decided to write the Yes Markets review. Now, unfortunately, this brokerage is not qualified for anything, especially not trading. The broker is a fraud, just like Medco Finance Limited.
Brokers are the main deal when it comes to trading. They’re the ones providing a platform, assets, leverage, and more. Even if you use a prop firm, they are partnered with brokers. But choosing someone like Yes Markets is a huge mistake, so keep reading our assessment to learn why.
About Yes Markets
The first thing we noticed is that they falsely present themselves as a regulated broker by the FSA in St. Vincent and the Grenadines, however, that is far from the truth. The FSA never heard about Yes Markets and there is no record of the broker in the register.
The website is badly designed, as everything is pushed into one page. Even clicking on the social network buttons doesn’t work but that is for another reason. This broker doesn’t have any social media presence, which could indicate they want to stay unnoticed.
According to ScamAdviser, the broker is using a free version of emails. Free email hosting services are commonly available to the public for free and are associated with Gmail, Yahoo, and others. Reputable and brokers use custom email addresses associated with their domain names rather than free email services.
However, just because they’re using free email services doesn’t necessarily indicate a scam. It’s just one of many factors to consider when evaluating the legitimacy and trustworthiness of this broker.
|Yes-markets Fx Limited
|Financial Authorities Warnings
|If a withdrawal is possible
|If Active on Social Media:
|United States, Canada, Turkiye, Ecuador, India;
|Unregulated scam brokerage;
Yes Markets Regulation
According to the website, the broker’s legal name appears to be FX Limited, a company regulated by the FSA in St. Vincent and the Grenadines. However, upon searching the register, there is no mention of either of the names. FX Limited pretty much doesn’t even exist.
Since we are experts, just looking at the website of Yes Markets is enough to say they’re a scam. However, for traders who are not yet experienced, regulatory status is the most important thing to look for when searching for a reliable business. Take Ctrl Investments as an example of a top-tier regulated brokerage.
In this case, Yes Markets operates without a license and has no shame no lie about it. The broker also provides segregated accounts, however, with brokers like this, you can always expect one account that manages all possible funds.
Yes Markets Features
The first thing we would like to discuss is the trading platform. Instead of offering MT4 or MT5, which is something even scam brokers offer, they are providing traders with a suspicious web trader.
The web trader is also offered as a mobile app for both Androids and IOS devices, however, once you click to download, you are taken to the homepage of the website. So much for a mobile app.
The maximum leverage is 1:400, however, there is always a possibility they will contact you and offer leverage of up to 1:1000 just to scam you for money.
Available assets include cryptocurrencies, spot metals, Forex, spot indices, commodities, and futures. Futures brokers in the United States must be regulated by the CFTC but that didn’t stop Yes Markets FX, despite the majority of their traders coming from the US alone.
What surprised us the most was the low deposit requirement of $10, which is what’s required to open the most basic account type. Spreads range from 0.2 to 2.0 pips, and there is no commission on any available assets. Sounds too good to be true, right?
Yes Markets Plans
Two account plans are offered, which include Individual and Corporate. After selecting the preferred plan, you will be provided with account types to choose from. All of the accounts have the same leverage and everything else, and the only difference is in spreads. Let’s see what Yes Markets offers:
- Deposit: $10
- Spread: 2 pips
- Deposit: $500
- Spread: 1.5 pips
- Deposit: $2,500
- Spread: 1 pips
- Deposit: $5,000
- Spread: 0.2 pips
Yes Markets Reviews
We couldn’t find any comments associated with this broker on any platforms online. The company is completely anonymous, which is probably why it lacks a social media presence. The Yes Markets broker tries to draw minimal attention so they can scam investors as much as possible.
With brokers like this, it’s only a matter of time before financial authorities publish an investor alert. Maybe the FSA will be the first to uncover the truth about this brokerage despite their claims to be regulated by them. In situations where reviews are not available, traders should rely on regulatory status and transparency.
Payment Options and Process
The Yes Markets withdrawal procedure is not explained, nor are the fees associated with it. The same goes for depositing your funds. The only information provided is that both deposits and withdrawals are instant, however, we doubt that claim.
The available methods according to the website include credit/debit cards, bank transfers, and of course, cryptocurrency. If you are depositing your funds blindly, we at least suggest using a card because filing a dispute will be easier in case something goes wrong, and it will.
Weighing the Pros and Cons
Can I Make Money While Trading Online?
There is nothing about this broker that could make us into depositing our funds. The firm operates unregulated and lacks many factors like transparency, reviews, better trading conditions, and so on. We could sit here all day and write reasons why you shouldn’t trade with Yes Markets.
As a matter of fact, you can stop relying on shady agents like this one and start using AI.F. AI tools in trading were proven to be the most profitable, however, the risk still exists, and choosing a reliable company is still crucial. With AI.F, you can expect security, speed, and effectiveness, which is not something you can find with every tool.
For 14 days for free, you can experience the bot yourself and we promise you won’t be able to trade without it. After the trial period, you can enjoy the perks for only $9 a month! Call us now and schedule a consultation about AI.F to begin your profitable trading journey.
What is Yes Markets?
Yes Markets is a brokerage company established in 2022 and located in St. Vincent and the Grenadines.
Is Yes Markets a Regulated Broker?
No, the broker operates unregulated despite their claims to be a reputable business regulated by the FSA in St. Vincent and the Grenadines.
Can I Trust Yes Markets With My Money?
No, the Yes Markets scam is real, even though there are no reports yet. From our understanding, the broker tries to stay away from the attention and continues to be anonymous.