YorkPro Review – Deceptive Reputation Leads Traders Into A Trap
This firm has a stellar reputation, and is allegedly operating from a prominent location in London. Once you scratch the shiny surface, many cracks start to appear. The reputation has been artificially inflated, the company is illicit, and the trading conditions are extremely expensive.
This is why it’s important to double-check every piece of information that the company offers. If you find even a single discrepancy, stay away. Learn more in our YorkPro review.
|Regulated by:||Unregulated Broker|
|Is This Company Safe?||No, illicit online trading platforms are anything but safe!|
|Have Warnings from:||KNF, IOSCO|
|Trading Platforms:||Web Trader|
|Deposit Bonus:||Up to 150%|
|Trading Assets:||Forex, Cryptocurrencies, Stocks, Indices, Commodities|
|Free Demo Account:||Not available|
|How to Withdraw from This Company?||Get in touch with our chargeback professionals for help with YorkPro withdrawal.|
Short On License
Although the YorkPro website lacks transparency and doesn’t reveal any company data, the legal docs mention the owning firm to be York Trade Estonia OÜ.
While the firm is legally incorporated in Estonia, it doesn’t hold any legit Forex trading license. Finantsinspektsioon is the regulatory authority in the jurisdiction and their database shows no entries with this name.
Moreover, the firm doesn’t show up in other databases of regulatory institutions like FCA, FINMA, FSMA and BaFin. At the same time, KNF has posted a public warning on this fraudulent scheme and the document was later republished by IOSCO.
For adequate fund security, access to compensation plans and efficient risk-reducing strategies, you’re highly advised to choose a better regulated broker instead. Beurax is another broker to steer clear from.
How The Scheme Unravels
The yorkpro.com domain was first registered in 2005, which you may check using WhoIs. The history of the site is murky before 2016, which coincides with the company’s registration, and very little information exists about previous owners.
Majority of platform users live in these countries:
- United States
The company does mimic games very well. Their entire platform was meticulously chosen and designed to avoid automated fraud detection programs. Fake reviews also contribute to complete the deception and conceal the trap.
The whole ordeal is not complete without the boiler room agents, of course. These alleged expert traders work tirelessly to bring more people to the platform, and squeeze as much money as they can from the victims.
If you have money stuck with YorkPro, ChaseTrades or a similar scheme, get in touch with our legal professionals.
Misleading Online Reputation
The only place you’ll find any customer experiences about this broker is Trustpilot, and oh boy do these people cake on the hogwash. All of these were posted by review seller networks, and they are paid content.
One of the ways to notice this sort of deception is by checking other review websites. Any reputable company would have a similar score on SiteJabber for instance, but this broker has none.
Unspecified Leverage And Taxes
Not knowing what trading conditions await can lead to a horrible experience.
As an unregulated and blacklisted entity, this firm could be offering conditions a lot higher than what regulations outline, as a method of draining your budget quicker.
Compared to leverage, fees are a bit better specified. There’s withdrawals and deposit fees, which we will shortly discuss. As for the trading costs, the rollover fees on open contracts are 0.05% – 0.249%. Also, if you decide to use the exchange feature, this service will cost 5% of your total balance.
Up To 150% Deposit Bonus
Signing up for a YorkPro account automatically brings you an involuntary bonus of at least 30%. This amount rises if you decide to take the bait and buy a more expensive package. The highest bonus rewarded is 150%.
In order to withdraw any funds from a credited account, you’re required to execute a minimum trading volume of (bonus amount + Deposit) x30, which is practically impossible.
Overview Of Trading Features
The company advertises all of the most sought after trading features. This includes cryptocurrency assets and payments, high-caliber trading platforms, impeccable security, financial anonymity, all the good stuff. How real is any of it, you ask? Let’s dig in and find out!
Tampered Web Trader
The advertised high quality trading platform is anything but. YorkPro platform is a simple web trader, and even though it uses Tradingview charts, we noticed telltale signs of data tampering.
As for the features themselves, the clients may choose an asset to view, and request a buy/sell order. There are no special analysis or advanced trading tools whatsoever.
Crypto Heavy Instruments
The company is trying hard to ride the cryptocurrency craze. The majority of their assets are crypto-based, but a good number of more traditional instruments are available as well.
Here’s a brief overview of asset groups:
- Cryptocurrency pairs (BTC/USDT, ETH/USDT, ADA/BTC, ADX/ETH)
- Forex pairs (EUR/USD, GBP/NZD, AUD/CAD, CHF/USD)
- Stocks (Daimler, Nike, Tesla, ExxonMobil)
- Indices (CAC40)
- Commodities (Silver, Gold)
Starting from $500, the overpriced packages demand astronomical amounts of cash to be activated. All the while not even revealing what their key features are. Except the over-advertised weekly market reviews and sessions with analysts, nothing beyond that is offered.
Here’s the cash you’re expected to spend on these unreasonably expensive accounts:
- Explorer – $500
- Basic – $2,500
- Silver – $10,000
- Gold – $25,000
- Platinum – $100,000
Predatory Withdrawal Conditions
With no automated payment processing, any money must flow through the company’s agent. The minimum amount to withdraw is $100, and any payouts are subject to a $50 withdrawal fee which is astronomical.
The many fees and trading volume restrictions are purposely intended to prevent any payouts. Illicit firms are known to invent such hurdles, so if you have any troubles with YorkPro withdrawal, contact our legal experts.
Fake Contact Info
The site insists on the YorkPro support and management being more than happy to assist you in solving obstacles to joining or trading.
However, taking a look at the contact page, you will only find fabricated details like physical address and UK phone number. Knowing all of the complaints fall on deaf ears, you cannot expect any professionalism from a blacklisted service provider.
We Offer Legal Help!
In light of the ever increasing number of false crypto providers and illicit online trading portals, we have to stress again how important it is to double check your broker of choice. Nonetheless, mistakes do happen, but it is not the end of the world.
We have the authentic means and the knowledge to restore your investments lost to internet thieves. Please contact our legal service via the online chat and book your free consultation.
What Is Yorkpro?
YorkPro is an illicit company operating allegedly from the UK. In reality, the firm is registered in Estonia, and operating without a license.
Is YorkPro Trustworthy?
No, YorkPro is a fraudulent firm that uses lies and deception to entrap investors. For help with YorkPro withdrawal, contact our chargeback professionals through the live chat.
What is an Underlying Asset Of Yorkpro?
Underlying asset on this platform is defined as a commodity, index, stock, currency pair or other products that are bases for options.