YaMarkets Review

Category: Reviews | Author: Trading Brokers | Date: September 22, 2023

Yamarkets is an online broker that claims to offer forex and CFD trading on various assets, such as currencies, commodities, indices, stocks, and cryptocurrencies. It also claims to provide multiple trading platforms, including MT5, WebTrader, and mobile apps, as well as various account types, funding methods, and educational resources. However, as with any online broker, there are also potential risks and drawbacks that traders should be aware of before opening an account with Yamarkets. For instance, the broker is not regulated by any reputable authority, which raises questions about its legitimacy and safety. Moreover, the broker has received many negative reviews from customers who complain about issues such as withdrawal problems, account closure, poor customer service, and false promises. Therefore, it is essential to conduct a thorough and objective review of Yamarkets and evaluate its features, advantages, and disadvantages. In this article, we will do just that and give our verdict on whether Yamarkets.com is a scam or a legit broker to trade with.

Pros & Cons

  • Follows multiple data security
  • Easy to open up an account
  • A plethora of educational resources
  • Offers a wide range of tradable instruments
  • Low minimum deposit of $10
  • Not regulated by any reputable authority, which raises questions about its legitimacy and safety
  • The product offering is limited
  • Reports of slow order execution

Summary

YaMarkets Review

YaMarkets Review

Yamarkets is an online CFD broker that was established in 2019 and claims to offer forex and CFD trading on various assets, such as currencies, commodities, indices, stocks, and cryptocurrencies. The broker is not regulated by any reputable authority, but it claims to be authorized by the Financial Services Commission of Mauritius and registered in St. Vincent and the Grenadines and Vanuatu.

The broker provides multiple trading platforms, including MT5, WebTrader, and mobile apps, as well as various account types, funding methods, and educational resources. Yamarkets also boasts of having low spreads and commissions, fast execution, and high leverage. Moreover, the broker offers a copy trading platform where traders can follow the trades of industry experts. However, as we will see in this article, Yamarkets also has many drawbacks and risks that traders should be aware of before opening an account with them.

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Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Regulation

Yamarkets asserts regulation by three authorities in different jurisdictions: the FSC of Mauritius, the FSA of St. Vincent and the Grenadines, and the VFSC of Vanuatu. However, closer examination reveals they lack authority in forex or CFD trading. The FSC of Mauritius only authorizes investment dealer activities, while the FSA of St. Vincent and the Grenadines explicitly does not regulate forex trading. The VFSC of Vanuatu similarly does not oversee forex trading. In summary, Yamarkets operates without genuine oversight in forex and CFD trading, posing risks and uncertainties for its clients. Traders should exercise caution and diligence before considering an account with them. Please see a list of regulated brokers for some alternative options.

Platforms & Tools

Yamarkets provides its clients with the choice of two trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are developed by MetaQuotes Software Corp., a leading provider of financial software solutions. These platforms are designed to facilitate trading in forex and CFDs on various assets, such as currencies, commodities, indices, stocks, and cryptocurrencies.

MT4 & MT5 Platforms

MT4 & MT5 Platforms

The MT4 platform is one of the most popular and widely used trading platforms in the forex industry. It offers a user-friendly interface and a range of features, such as multiple order types, 9 timeframes, 30 technical indicators, 24 graphical objects, automated trading with expert advisors (EAs), and custom indicators. The MT4 platform can be accessed via desktop, web browser, or mobile devices.

The MT5 platform is the latest version of the MetaTrader series and offers more advanced features and functionalities than the MT4 platform. It supports trading in forex, indices, commodities, stocks, futures, and cryptocurrencies CFDs. It also offers more order types, 21 timeframes, 38 technical indicators, 44 graphical objects, an economic calendar, market depth, and a strategy tester. The MT5 platform also supports automated trading with EAs and custom indicators. The MT5 platform can be accessed via desktop, web browser, or mobile devices.

In addition to these platforms, Yamarkets also offers some useful tools and resources for its clients, such as:

  • Copy Trading: This is a feature that allows traders to follow and copy the trades of other successful traders on the Yamarkets platform. Traders can choose from a list of verified experts based on their performance, risk level, and trading style. Copy trading can help traders to learn from others, diversify their portfolios, and save time.
  • Market Signals: These are trading signals generated by market experts and analysts that provide guidance on potential trading opportunities and market trends. Traders can access these signals via the MT5 platform or the Yamarkets website. The signals include information such as entry price, stop loss, take profit, and risk-reward ratio.
  • Education: Yamarkets offers a variety of educational materials and resources for its clients to enhance their knowledge and skills in trading. These include webinars, seminars, workshops, articles, videos, e-books, glossaries, FAQs, and tutorials. The education section covers topics such as forex basics, technical analysis, fundamental analysis, trading strategies, risk management, and more.
  • Calculator: Yamarkets provides a handy calculator tool on its website that helps traders to calculate various trading parameters and costs. The calculator can estimate the margin requirement, pip value, swap fee, commission fee, and profit or loss for any trade.

Education

Yamarkets recognizes the importance of education for its clients and offers a variety of educational materials and resources to help them improve their trading skills and knowledge. These include:

  • Videos: Yamarkets offers a wide range of videos that cover a variety of topics, such as introduction videos, technical views, featured ideas, web TV, news analysis, live webinars, and tutorial playlists. These videos are designed to provide traders with visual and interactive learning experiences and insights into the forex and CFD markets.
  • Webinars: Yamarkets also hosts regular live webinars that are conducted by experienced traders and analysts. These webinars cover topics such as forex basics, technical analysis, fundamental analysis, trading strategies, risk management, and more. Traders can register for these webinars for free and interact with the instructors and other participants.
  • Seminars: Yamarkets also organizes offline seminars and workshops in various locations around the world. These events are aimed at providing traders with hands-on training and networking opportunities with other traders and experts. Traders can learn from the best practices and tips shared by the speakers and get their questions answered.
  • Workshops: Yamarkets also offers one-day financial education workshops that are designed to teach traders the essentials of forex trading. These workshops are presented by FxCareers, a leading provider of forex education and career development.

Yamarkets offers a comprehensive and diverse education segment that caters to traders of all levels and preferences. By accessing these educational materials and resources, traders can enhance their knowledge and skills in trading and potentially improve their trading performance.

Markets

Yamarkets offers a variety of trading instruments to its clients. These include:

  • Forex: Yamarkets provides access to the forex market, allowing traders to trade major, minor, and exotic currency pairs. Forex trading involves buying and selling currencies based on their exchange rates. Forex is the largest and most liquid market in the world, with an average daily turnover of over $6 trillion. Some of the currency pairs that Yamarkets offers are EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CAD, USD/ZAR, and more.
  • Commodities: The broker offers trading in popular commodities such as gold, silver, crude oil, and natural gas. Commodities are physical goods that are traded on global markets. Commodities trading involves speculating on the price movements of these goods based on supply and demand factors. Some of the commodities that Yamarkets offers are XAU/USD, XAG/USD, USOIL, UKOIL, NGAS, and more.
  • Indices: Traders can also trade in global stock indices like the S&P 500, Nasdaq, FTSE 100, DAX, and others. Indices are baskets of stocks that represent the performance of a specific market or sector. Indices trading involves speculating on the price movements of these baskets based on economic and political factors. Some of the indices that Yamarkets offers are US30, US100, UK100, GER30, FRA40, and more.
  • Cryptocurrencies: The broker also offers trading in cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple. Cryptocurrencies are digital currencies that use cryptography to secure transactions and control the creation of new units. Cryptocurrency trading involves speculating on the price movements of these currencies based on supply and demand factors. Some of the cryptocurrencies that Yamarkets offers are BTC/USD, ETH/USD, LTC/USD, XRP/USD, and more.

Accounts

Yamarkets offers four types of trading accounts to cater to the diverse needs and preferences of its clients. These are:

  • Ultimate Account: This account is designed for experienced traders who prefer tight spreads and low commissions. The account requires a minimum deposit of $10 and offers a leverage of up to 1:1000. The minimum spread is relatively high, starting from 1.8 pips, and there are no commissions charged on trades. This account also offers free signals, free VPS, and personal account manager services.
  • Standard Account: This account is suitable for beginner and intermediate traders who prefer a straightforward trading experience. The account requires a minimum deposit of $500 and offers a leverage of up to 1:500. The minimum spread starts from 1.5 pips, and there are no commissions charged on trades. This account also offers free signals and personal account manager services.
  • Royale Account: This account is suitable for high-net-worth traders who prefer personalized trading services. The account requires a minimum deposit of $2,500 and offers a leverage of up to 1:300. The spread for major currency pairs starts from 1.0 pips, and there are no commissions charged on trades. This account also offers free signals, free VPS, a personal account manager, priority withdrawal, and premium support services.
  • ECN Account: This account is suitable for traders who prefer to trade in a non-dealing desk environment. The account requires a minimum deposit of $5,000 and offers a leverage of up to 1:200. The spread for major currency pairs starts from 0.0 pips, with certain commissions charged on trades. This account also offers free signals, free forex VPS, a personal account manager, priority withdrawal, premium support, and zero swap fee services.

Funding

Yamarkets offers a wide range of deposit and withdrawal options that cater to traders in various regions. The broker allows clients to deposit funds without any additional fees, which is a plus for traders who want to save on transaction costs. Yamarkets accepts deposits via multiple payment methods, including:

  • Cashfree: This is an online payment gateway that supports deposits in Indian rupees. The minimum deposit amount is 500 INR and the maximum is 500,000 INR per transaction. Deposits are processed instantly and securely.
  • PayUmoney: This is another online payment gateway that supports deposits in Indian rupees. The minimum deposit amount is 500 INR and the maximum is 500,000 INR per transaction. Deposits are processed instantly and securely.
  • Quick Paytm: This is a mobile payment service that supports deposits in Indian rupees. The minimum deposit amount is 500 INR and the maximum is 500,000 INR per transaction. Deposits are processed instantly and securely.
  • VISA and MasterCard: These are credit and debit cards that support deposits in various currencies. The minimum deposit amount is $10 and the maximum is $10,000 per transaction. Deposits are processed instantly and securely.
  • Bitcoin, Ethereum, Litecoin, and Altcoins: These are cryptocurrencies that support deposits in various currencies. The minimum deposit amount is $10 and the maximum is $10,000 per transaction. Deposits are processed within 15 minutes and securely.
  • Perfect Money: This is an e-wallet that supports deposits in various currencies. The minimum deposit amount is $10 and the maximum is $10,000 per transaction. Deposits are processed instantly and securely.
  • Neteller and Skrill: These are e-wallets that support deposits in various currencies. The minimum deposit amount is $10 and the maximum is $10,000 per transaction. Deposits are processed instantly and securely.
  • Local Deposit (India, Sri Lanka, Hong Kong, Indonesia): These are local bank transfers that support deposits in local currencies. The minimum deposit amount varies depending on the country and the maximum is $10,000 per transaction. Deposits are processed within 24 hours and securely.

When it comes to withdrawals, Yamarkets does not charge any fees for withdrawals. However, clients may incur fees from their payment method provider or bank. The processing time for withdrawals may vary depending on the payment method selected and the client’s location. The broker aims to process withdrawal requests within 24 hours, but it may take up to 3-7 business days for the funds to be credited to the client’s account, depending on the payment method and location.

Conclusion

In this article, we have reviewed Yamarkets, an online broker that claims to offer forex and CFD trading on various assets, such as currencies, commodities, indices, stocks, and cryptocurrencies. We have evaluated its features, advantages, and disadvantages, such as its regulation, platforms, tools, education, markets, accounts, and funding. However, we have also found that Yamarkets has some significant drawbacks and risks that traders should be aware of before opening an account with them. These include its lack of proper regulation by reputable authorities, its negative customer reviews and complaints, its unclear terms and conditions, and its potential involvement in fraudulent activities. Therefore, traders are advised to exercise caution and due diligence when dealing with Yamarkets and to consider other alternatives that may offer more reliability and security. For more options, we encourage you to explore our trading broker reviews.

YaMarkets Logo

$10

Yamarkets is an online brokerage firm that offers a trading platform for forex, commodities, indices, and cryptocurrencies. Yamarkets is regulated by various authorities and provides educational resources, customer support, and copy trading features to its clients.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.


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