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YellowStoneFX Review: Exposed Scam Forex Brokerage
Table of Content
YellowStoneFX trading company can get credit only for trying to look legitimate. As an offshore entity based in St.Vincent and Grenadines, they don’t bring up much hope. With freshly registered businesses, they didn’t earn much credibility among traders. Especially because they are running multiple domains or companies if you like.
|Broker Status:||Unregulated offshore broker|
|Regulated by:||No regulations|
|Operating Status:||Active trading scam|
|Blacklisted as a Scam by:||N/A|
|Broker Owner:||Plaintech LLC|
|Headquarters Country:||St. Vincent and Grenadines|
|Online Trading Platforms:||Web trader|
|Mobile Trading:||Not available|
|Crypto Asset Trading:||Yes – BTC, SOL, ETH|
|CFD Trading Option:||Yes, you can trade CFDs|
|Available Trading Instruments:||Forex, Commodities, Shares, Indices, Cryptocurrencies|
|Free Demo Account:||Not available|
|Accepts US clients:||Yes|
What makes this broker suspicious and how to prevent becoming their prey find in this latest YellowStoneFX review.
The Safety of Funds and the Regulation of YellowStoneFX
St. Vincent and Grenadines (SVG) has a financial regulator. It is FSA (Financial Services Authority). Since they are aware of what kind of businesses are open in their country they decided to limit their activities. Nowadays, they don’t provide licenses for trading companies. Such companies should opt for regulations in other countries. Primarily where they operate.
That’s why we will take a look at some most trusted on the list. Such as FCA, BaFin and CONSOB. All these require strict conditions to be met. So if you choose any broker with this regulation, you are not making a mistake. On the contrary, choosing a YellowStoneFX scam broker that is not on that list is risky.
Firstly, they don’t provide any fund security measures. Secondly, they don’t have compensation funds in case the company goes bankrupt. With this in mind, you can understand why depositing any money here is risky. Mostly because you transfer it directly to their pockets.
YellowStoneFX Platform Overview
YellowStoneFX broker scam is based on their plain web trader. It looks similar to the basic trading view, but with fewer trading tools. Instead of using social and copy trading, here you can only use basic options. From pending orders, a few charting options, and some indicators. Not to mention that the only way to access an account on the mobile is through the browser.
On the contrary, many regulated brokers offer trusted software. Mostly it’s third-party which brings more security. One of the main benefits is transparency and security. Some of a kind are MT4, MT5, and cTrader.
But YellowStoneFX broker doesn’t bother with that. The main reason is that they can manipulate their platform. Instead of believing what you see on their platform, double-check the data on some other reliable site.
Account Types Offered at YellowStoneFX
As for the account types, there are 5 options. You can choose from:
- Bronze 1.000 USD
- Silver 5.000 USD
- Gold 25.000 USD
- Platinum 75.000 USD
- Diamond 125.000 USD
With such a high minimum deposit, it doesn’t make sense to risk it. If you compare it with some regulated brokers you will see the difference. They offer micro accounts starting at $10. That way you can transparently check trading conditions and all the tools available.
However, with YellowStoneFX, that remains mysterious. Moreover, they don’t offer some competitive features. For instance, an Islamic account or demo account. These two are very popular nowadays and can be very important.
|Broker||YellowStoneFX||FXTM||OctaFX||FPMarkets||XM Broker||HFM||FBS Broker|
YellowStoneFX Trading Instruments
The only positive side of this broker is the wide instrument range. But all excitement diminishes quickly once you realize they are a non-licensed broker. But if you are curious here are some of the options:
- Forex GBP/AUD, CAD/NOK, USD/SEK
- Commodities silver, palladium, natural gas
- Indices CAC 40, BE 20, Dow Jones
- Shares Walt Disney, Amazon, Netflix
- Cryptocurrencies BCH, XRM, DASH
Legitimate brokers make money through fees and spreads. So, if you have spread from 0.001 pips you can’t make much. But that’s just a tactic. It doesn’t necessarily mean it will be 0.001 pips. Additionally, they don’t reveal crucial rollover fees. Sometimes it can rip you off for holding a position overnight.
An additional disturbing feature is their leverage. While many licensed companies offer a maximum of 1:30, this one offers 1:300. This is a 10 times bigger potential to lose all of your funds. Without negative balance protection, this can get you quickly into debt.
Deposits and Withdrawals Process
As for funding methods with this company, you can only use cards. In fact, this is a huge relief. Because even if you deposited money, you can get a chargeback. So, this is a positive thing. But they as well accept Bitcoins. That’s where you should be careful because those transactions are anonymous.
What is worrying us is the withdrawal policy. The processing time is as 7-10 working days. Of course, the broker requires additional verification documentation.
These are standard and well-known swindler tactics. This investment scam is based on prolonging your withdrawal request up to two cases. One is that you lose all your funds while trading. Another one is that they manage to pitch you for more money. You decide if you are going to fall for this scam or not.
How Do I Obtain A Refund After Being Defrauded by YellowStoneFX?
The way to get a refund is not through authorities. They don’t have regulations so nobody to complain to. If you were using a card transfer your solution is a chargeback. On the other hand, hardly traceable cryptos have a bit longer and procedure. But not impossible. Our Cipher Trace software can trace even those encrypted transactions.
That’s why our fund recovery team is here to advise you. Get in touch with us and book your first consultation today!
- Offshore broker without regulation.
- Unreliable trading platform.
- Uncompetitive trading conditions.
- Multiple domains under the same ownership.
- High minimum deposit requirement.
FAQs About YellowStoneFX Broker:
Is My Money Safe at YellowStoneFX Broker?
No. They are not licensed and don’t provide any fund security measures like regulated brokers.
How Long Do YellowStoneFX Withdrawals Take?
The withdrawal processing time is 7-10 working days but based on reviews even longer.
What Are The Funding Methods For YellowStoneFX?
Funding methods available are debit/credit cards and crypto transfers mainly through Bitcoin.