YLD FX Review
YLD FX is an offshore trading broker that offers its clients direct access to the forex and commodities markets with competitive spreads. They provide traders with the sophisticated MT5 trading platform along with a personal account manager and a range of other useful trading tools. However, the broker is unregulated and requires a minimum deposit of $1,000.
YLD FX Review, Pros & Cons
- MetaTrader 5 trading platform
- A range of trading tools
- Dedicated customer support
- Not regulated by any financial authority
- No educational resources
- Offshore broker
- Limited account funding options
- Minimum $1,000 deposit
- No USA clients
In this detailed YLD FX review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
YLD FX Overview
YLD FX is a forex and CFD broker that gives traders access to trade with the latest trading platforms and tools from an offshore location with maximum security and privacy. YLD FX online trading services are provided by YLD Educational Services. They provide traders with the popular and highly advanced MetaTrader 5 trading platform for trading multiple financial instruments across different asset classes, including forex, stocks, metals, equities, commodities, and much more.
The brokerage service is built on extensive market research, for traders by traders, offering good trading conditions such as competitive spreads; Personal Account Manager, and a dedicated customer support team.
YLD FX Regulation
YLD FX is located offshore in Saint Kitts and Nevis; its registered office is in Hunkins Waterfront Plaza, Main Street, Suite 556, Charlestown, Nevis, West Indies. The broker states that clients’ funds are segregated from its own funds and may be pooled with the funds of other clients in a general omnibus account. It also offers customer deposit protection of up to 100,000 Euros for eligible clients.
However, there are no regulatory laws on the broker’s website. Most experts and professionals would not trade with an unregulated broker as they cannot offer investors the same protections that a regulated broker can. Please see our trading broker reviews for alternative regulated brokers.
YLD FX Countries
YLD FX allows traders from different parts of the world to open an account with them if their countries of residence permit online trading with foreign brokers. There are no restrictions on clients from any country. However, the YLD FX service is not directed at jurisdictions where its services will be contrary to local laws, including the USA.
Some YLD FX features and products mentioned within this YLD FX review may not be available to traders from specific countries due to legal restrictions.
YLD FX Platforms
The broker provides traders with the popular and sophisticated MetaTrader 5 trading platform. It was developed in 2010 by the Russian software company, MetaQuotes, and it is widely used by traders around the world for its intuitive and user friendly interface. The platform has advanced features and functionalities, including graphical objects and technical indicators on 21 timeframes, support for automated trading using Trading Robots or Expert Advisors, and Economic Calendar, amongst other features. The MT5 trading platform is available in the following versions:
The MT5 desktop platform is rich in trading functionality, including newsfeeds and an economic calendar for fundamental market analysis and technical analysis features, such as copy trading and automation tools that can be accessed for free. It is designed for Windows and Mac computers. However, MetaQuotes do not offer a directly compatible MT5 platform for Apple Mac users, but then, Apple Computers come with a program installed, called Bootcamp Assist, which allows you to run a parallel windows desktop on your Mac, enabling you to install the Windows desktop download. This gives you the ability to run a fully customizable and reliable platform. Bootcamp Assist is free of charge and is licensed and supported by Apple.
MT5 Web Version
The MT5 Web Trader is a web-based platform that can run directly on most modern web browsers and operating systems, such as Chrome, Safari, Firefox, and Edge, thus eliminating the need to download or install any additional software.
MT5 Mobile App
The MT5 mobile platform is a downloadable mobile app that is compatible with Android and iOS devices. It has an intuitive and user friendly interface and is best suited for traders who wish to manage their accounts and place trades while on the move, at any time and from anywhere in the world that has an internet connection. The mobile platform has the following benefits:
- Trading Forex, stocks, and futures anywhere in the world
- 2 trading systems: traditional netting system and the hedging option system
- Powerful trading systems, including Market Depth and all types of trading operations
- Full set of trade orders, including pending and stop-orders
- Multiple chart types and timeframes
- Built-in technical analysis tools: 30 indicators and 24 analytical objects
- Chat with registered MQL5 community members
- Financial news, alerts, and push notifications
- Extended version for tablets
YLD FX Trading Tools
The provided MT5 trading platform has a vast array of built-in tools. Nevertheless, the broker also provides clients with other additional standalone trading tools to better enhance traders’ trading experience. They include:
This gives up-to-date news releases of events taking place in the financial markets so that traders can be in the know about the factors that move the markets.
Real-Time FX Prices
This gives an up-to-the-minute update on the prices and range of forex currency pairs available for trading at any point in time.
Forex Heat Map
The Forex Heat map is a tool that enables traders to indicate the strength of a trend in a currency pair. It is powered by Myfxbook.com.
YLD FX Education
The broker’s website does not contain any educational resources at the moment. Educational resources are important to traders of all experience levels as they help to improve their trading skills and knowledge.
YLD FX Instruments
YLD FX provides traders with the opportunity to trade multiple financial instruments across different asset classes, including forex, stocks, metals, equities, commodities, and much more, via the popular MetaTrader 5 platform. The forex pairs available for trading include major, minor and exotic forex currency pairs, whereas the stocks available for trading include Facebook, Micron Technology, Nike, and more. There are also a variety of commodities and popular equity market indices for online trading.
YLD FX Accounts & Fees
The broker offers clients a live trading account and a demo account. The live trading account has a leverage of up to 1:100 and offers competitive spreads. It also gives traders access to a personal account manager. On the other hand, demo accounts are available for practice purposes; they are recommended for beginner traders who wish to try out the broker’s platforms and test their strategies with virtual funds before opening a live trading account.
As broker fees can vary and change, there may be additional fees that are not listed in this YLD FX review. It is imperative to ensure that you check and understand all of the latest information before you open a YLD FX account for online trading.
YLD FX Support
The broker offers a dedicated support team that is available at all times, ready to assist with any general, technical, or account-related questions you may have. They can be reached via Telephone, Email, and Online live chat. They are also available through some social media channels: Twitter, Facebook, and Instagram.
YLD FX Deposit & Withdrawal
The broker’s account funding option is provided by its partner XE Forex, one of the largest global FX payment providers. You can pay with your Visa, MasterCard, Debit card or UK bank account. You can transfer from your browser or download the mobile app for Apple or Android. Deposits clear in 1-2 business days as standard. Deposits are free of charge, while the minimum account sizes are: £1,000 or $1,000 or €1,000.
The broker offers secure bank transfer for account withdrawals with zero percent fees. They cover all outgoing bank fees, so ensure you are aware of any fees that your local bank may charge. Please note that, for security purposes, funds will only be returned to the original bank account that you used to fund your account.
YLD FX Account Opening
Opening an account with YLD FX is simple and easy. Simply click on the ‘Join the Waiting List’ button on the broker’s website, and the Sign Up form will be displayed:
Next, fill the form properly and answer the questions accurately. You will need to upload your documents: Proof of identity – passport or national identity card. You must submit a color copy of your valid ID document. Proof of address – bank/card statement or utility bill. Please note that this should be a color copy, and must have been issued no longer than 3 months ago. Once your account has been created and verified, you can make deposits and commence trading when you are ready to do so.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
YLD FX Summary
Overall, YLD FX is an offshore trading broker that offers its clients direct access to the forex and commodities markets with competitive spreads. They provide traders with the sophisticated MT5 trading platform, which is available in desktop, web, and mobile versions. YLD FX is built on extensive market research, for traders by traders, offering good trading conditions such as competitive spreads; Personal Account Manager, and a dedicated customer support team. However, they have no well-defined educational resources on their website, and they are not regulated by any known regulatory agency.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.