YellowStoneFX Review: Unregulated Scam Broker
In today’s YellowStoneFX review, we have assessed the offer of this unlicensed brokerage firm. By reading our article, you will understand why trading with unregulated brokers is regarded as extremely risky.�
Before moving forward, here is a quick overview of YellowStoneFX. As per its website, it is a trading name of Plaintech LLC, registered in Saint Vincent and the Grenadines.�
When a phony broker is headquartered in SVG, it raises suspicions since this jurisdiction doesn’t regulate its forex providers. Other than this, YellowStoneFX shares traits of a classic investment scam.���
|Unlicensed Scam Brokerage
|Blacklisted as a Scam by:
|Yes (Bitcoin, Litecoin, Dogecoin)
|Types of Assets:
|Crypto, forex, commodities, stocks, indices
|Free Demo Account:
|Accepts US clients:
Is YellowStoneFX Regulated By a Financial Regulator?
As introduced, the YellowStoneFX broker operates illegally since it is not authorized by any financial market regulator to provide services anywhere.�
Although forex trading is risky, investing with a bogus brokerage firm carries out greater danger. In plain English, YellowStoneFX can’t protect traders but imperils their finances.�
Moreover, this also indicates that this shady company can be involved in fraudulent trading activities because no third party oversees or vouches for it.
YellowStoneFX is owned and operated by Plaintech LLC, headquartered in SVG. Neither of these entities is authorized to provide online financial trading services in any jurisdiction.
Other than that, this shady brokerage firm misleads traders by providing fake conditions and lying about trading software.
Why Is Trading With a Licensed Broker Preferable?
By comparison, legitimate brokers can be accountable for their actions. They adhere to strict legislation stipulated by financial authorities. Among tier-one supervisory bodies are the Australian ASIC, British FCA, and German BaFin.�
Aside from the guaranteed safety of your funds, brokers certified by these agencies maintain an advantageous environment and look after their traders. For instance, they implement negative balance protection that stops you from losing more than you deposit.�
Likewise, they keep your funds separate from their capital, keeping your finance safe in the case of a broker’s insolvency. Lastly, you are covered by compensation schemes ranging from 85K GBP to 100K AUD/EUR.��������
YellowStoneFX Provides Access To WebTrader? – Trading Platform
Regarding trading software, it impacts the outcome of trading. That is to say, the more advanced features, the more successful results.
It is proven that the latest trading programs like MetaTrader 4, MetaTrader 5, cTrader, and Sirix ensure safe and profitable trading due to incorporating plenty of innovative tools (e.g., expert advisors, social trading, and stop loss).�
For instance, copy trading allows you to monitor and mimic the most productive traders. Speaking of the YellowStoneFX web trader, it can’t be in the same class as the foregoing platforms. This implies that its web trader doesn’t have what is needed for optimum performance.
Trading on PC, Mobile Devices, and Tablet
What is more, a web trader limits you to trading from browsers. In contrast, the aforesaid modern trading programs enable trading from different devices, including laptops, tablets, and cell phones. As an example, you can download MT4 as computer software or an Android/iPhone trading app easily.
YellowStoneFX – Countries Of Service
Apart from the above-mentioned grounds, according to victims, it appears that YellowStoneFX is a fraudulent broker scamming traders from
- The UK.
For quick reference, an FX broker operating in Australia must be approved by ASIC (Australian Securities Investment Commission), and in the UK, must be accredited by FCA (Financial Conduct Authority).�
Otherwise, it is an outright scam. These markets enjoy a great reputation due to having demanding licensing requirements; a brokerage company must meet minimum operating capital requirements (up to 1.5M GBP).�
Which Assets Can The Investor Trade?
Therefore, fake brokers promise a wide range of trading instruments in order to draw your attention. Similarly, YellowStoneFx trading allegedly provides the following markets and assets.
- Digital currencies: Tether, Ethereum, Ripple;�
- Currency pairs: EUR/USD, GBP/AUD, CAD/NZD;�
- Commodities: coffee, natural gas, silver;�
- Shares: Amazon, Apple, Tesla;
- Indices: CAC 40, Russell 2000, BEL 20.
No matter what this fraudster offers, your investment is at stake since its lack of opportune conditions.
What Do We Know About YellowStoneFX Account Types?
When it comes to trading accounts at YellowStoneFX, firstly, there is no demo account. This option allows you to test platforms, build strategies, and assess conditions without risk and costs.�
At the same time, it can expose broker scams; as a consequence, they rarely include free practical accounts in their offers. As regards live trading accounts, YellowStoneFX provides the following types.
- Bronze: 1,000 USD minimum required deposit, spreads 0.12 pips, leverage 1:50;
- Silver: 5,000 USD minimum required deposit, spreads 0.08 pips, leverage 1:50;
- Gold: 25,000 USD minimum required deposit, spreads 0.01 pips, leverage 1:50;
- Premium: 75,000 USD minimum required deposit, spreads 0.01 pips, leverage 1:100;
- Diamond: 125,000 USD minimum required deposit, spreads 0.01 pips, leverage 1:200;
- VIP: a minimum required deposit is unknown, spreads 0.01 pips, leverage 1:300.
As can be seen, these accounts come with a hefty sum for opening balance, which is a needless risk considering the status of YellowStoneFX.�
Additionally, as for the VIP account, opening this account requires contacting an account manager, which is one of the dirty tricks employed by scammers. When you get in touch, the manager will rip you off and charge more than initially agreed.
Details About Leverage, Spreads, and Fees
While on the subject of accounts, the maximum leverage ratio at YellowStoneFX is 1:300, which is several times higher than what is allowed in some jurisdictions. Even though leverage is a handy tool in making profits, it must be treated carefully and requires some skills.�
For this reason, many financial regulators limit a leverage ratio to 1:30 (UK) and 1:50 (US) for retail traders. Furthermore, YellowStoneFX reportedly provides tight spreads, from 0.12 to 0.01 pips, which is undoubtedly manipulated to appear rewarding.�
Concerning other terms of exchange, as per its web page, swaps are either standard or competitive, but what is meant by that remains unclear. Anyway, nothing beneficial can be expected from this illicit broker.
High Minimum Deposit and Withdrawal Terms
One of the characteristics of every investment scam is a high minimum deposit. With reference to the YellowStoneFX deposit, it is 250 USD. Now compare this to 10 USD, which is a minimum starting deposit with some of the finest brokers in the industry.�
In connection with accepted forms of payments, despite the assurance of the availability of VISA, Mastercard, Maestro, and wire transfers, we are skeptical about this. That is why financial swindlers push for depositing via crypto wallets that are hard to trace and reverse.
On a final note, the withdrawal process is always obscure on the manipulative trading platform, involving issues and hidden costs, and in most cases, withdrawals are not even possible.
Trading Bonuses and The Terms of Their Receipt
Con artists often entice traders with generous bonuses. Promotions are fine if they come from a legit broker. Otherwise, they are part of a malicious strategy.
Thereby, YellowStoneFX promises rewards to rope you into investing and defraud you. Remember, these prizes have adverse terms preventing you from withdrawing them. Also, the scammer holds the right to change conditions as pleases.
Scammed by YellowStoneFX Broker? – Let Us Hear Your Story
First of all, it is possible to retrieve your funds, more about that in the next section. Then, you should report financial fraud to the respective authorities.
Besides, be sure to leave negative YellowStoneFX reviews and help other traders avoid this online trading scam. After all, don’t feel embarrassed since everyone can be defrauded.
What Is A Chargeback?
As said, you can get your money back thanks to a chargeback process. The method of cashback is uncomplicated with secure payments like credit/debit cards and bank transfers.�
Consequently, fraudsters frequently use crypto payments because they can be canceled. Anyhow, cyber security experts can assist you even with reversing crypto wallets. In that respect, get in touch with our company today.�
FAQs About YellowStoneFX
What Is YellowStoneFX?
YellowStoneFX is a fake forex broker operating without license and regulations.
Is YellowStoneFX a Scam Broker?
Yes, YellowStoneFX has all the traits of a trading scam since it deceives and lies to people.
Is YellowStoneFX Available in the United States or the UK?
Allegedly, YellowStoneFX is not available in the US but is in the UK; still, it doesn’t comply with any legislation.
Does YellowStoneFX Offer a Demo Account?
No, YellowStoneFX doesn’t provide a demo account since it can’t capitalize on a free practice account.