Minimum Deposit: $250
Maximum Leverage: 1:75
Yes Trading, another broker I’ll review. At the same time, the binary options brand of this broker also serves as Yes Option. So I think that this Yes Trade review will be beneficial for investors interested in both brands.
Yes Trading is one of the newly launched brokers, although it is said to be a long-established and old broker. The official website has very few visitors. level. Also the design of the official website is amateurish. When you consider these issues, they give a distant view of professionalism.
Is Yes Trading scam or a good broker? What are the trading conditions such as account types offered by YesTrading and its minimum deposit, maximum leverage, spread? You can get all these questions in this Yes Trading review. If you have any other questions or if you have a problem with this broker, you can comment on the comment section below the this article. Now, if you’re ready, let’s take a look at it together.
One of the most important criteria for Forex traders is regulation. Because if you trade in unregulated brokers, you will not find an authority to complain about problems you encounter. Usually scam brokers serve as unregulated. So I strongly advise you to don’t open an account with unlicensed brokers.
It is a challenging process for newly established brokers to obtain licenses from reputable regulators. Because of this, these brokers usually prefer to get licenses from relatively less reputable regulators in the beginning. This is understandable and reasonable. They also offer better trading conditions for investors to close the gap. They usually offer lower spread or minimum deposit.
According to the information contained in the official website, YesTrading is a brand owned and operated by Diamond Global Ltd which is registered in Marshall Islands. But this company is not regulated and licensed in Marshall Island. Because there are not any authority to regulate on forex or binary options in Marshall Islands.
After all this, I can clearly state that Yes Trading is an unregulated broker and probably scam.
I would advise you to opt for brokers licensed from reputable regulators for Forex trading. For example; FCA in the UK is a reputable regulator all over the world.
Account Types Offered by Yes Trading
Yes Trading offers 6 different account types: Basic, Bronze, Silver, Gold, Platinum and Black. The main difference between these account types is the minimum deposit amount and the welcome bonus ratio, as you can see in the table below. Higher amounts of funding are illogical by choosing a upper account type. Because there is no other advantage apart from the bonus advantage.
|Account type||Minimum deposit||Maximum leverage||Welcome Bonus||Spread|
The Basic account type is similar to the standard account type offered by other brokers. The minimum deposit for this account type is $ 250 which is quite high, considering that the industry average is $ 100. You can even find reputable brokers that require a much lower minimum deposit.
For other account types, the required minimum deposit is too high. The maximum leverage offered for all account types is 1:75. This leverage ratio can be low for many investors.
Also the welcome bonus varies according to the minimum deposit. However, to get a 100% welcome bonus, $ 100,000 funding is required. In other brokers, you can find a bonus on much better terms. For more information on Bonuses and Promotions, you can read article on this topic.
I can say that the deposit and withdrawal methods offered by YesTrading are sufficient. I accept this criterion as positive. You can use credit card and wire transfer. Of course, as with other brokers, the fastest way to make deposit and withdraw is credit card. You can also use Skrill.