YellowStoneFX offers traders to conquer financial markets together. The broker claims that with it you will significantly increase your income. However, at first glance, there is nothing truthful in these statements. Moreover, the reviews about this company are not the best. Let’s see if it deserves to be trusted, or if it is another scam.
- YellowStoneFX General Information
- Registration and Client Portal Review
- YellowStoneFX Trading Conditions
- Account Types Review
- Trading Platform
- YellowStoneFX — Deposit and Withdrawal of Funds
- Additional Options
- Is YellowStoneFX a Scam?
- Legal Information and License
- Yellowstonefx.io Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
YellowStoneFX General Information
|Address||Plaintech LLC, 2333 LLC 2022, Suit 305, Griffith Corporate Center, Beachmont, Kingstown, St. Vincent and the Grenadines|
|Leverage||Up to 1:300|
|Trading Platform||WebTrader, MT5|
Registration and Client Portal Review
YellowStoneFX claims a worldwide presence. However, only English is available on the official website. According to the name, the design here is presented in yellow-black tones. The platform has all the cliches that can be found with such brokers. They tell you about the advantages of YellowStoneFX, but they don’t write much about the company itself. At the same time, they try to convince customers to open an account as soon as possible. Of course, they promise them a lot of profit, and immediately.
Opening an account will not take you much time. You need to fill out a small form with personal data. No email verification is required. The broker does not support two-factor authentication. Only the password will protect your credentials.
Meanwhile, the Client Area is not impressive in its functionality. Here you can download the trading terminal or go to its web version. You also have the option to change your profile settings and upload documents. Of course, you can fund your account here, or create a withdrawal request.
YellowStoneFX Trading Conditions
Regarding services, YellowStoneFX is no different from hundreds of other brokers. The company offers CFD trading, but the variety of assets is quite large.
Account Types Review
Like many other brokers, YellowStoneFX divides accounts into types according to the minimum deposit. You can start with an amount of $1,000. Of course, for beginners, this is quite a lot. However, the broker goes even further. It recommends opening a Silver account for inexperienced traders, where the minimum deposit is 5 thousand dollars at once. In general, the types of accounts differ little from each other. In those that are more expensive, you will have to make a huge deposit for ridiculous services. YellowStoneFX promises traders who deposit 100 thousand dollars, some kind of VIP service. However, what exactly is included in this, it does not say.
Leverage for beginners is even more or less acceptable. The broker also gives clients who deposit large amounts much higher leverage, up to 1:300.
YellowStoneFX is doing badly with the trading platform. If you have deposited less than 5 thousand dollars to your account, only a web trader will be available to you. If you were able to deposit 5 thousand dollars, you will receive MT5. The mobile app will be available to you only if your deposit is 25 thousand dollars.
At the same time, the broker for some reason lies that trading platforms are its development. We hasten to assure you that this is not the case. YellowStoneFX bought this software from other developers. By the way, other licensed brokers easily provide MT5 even on cent accounts. There is no need to deposit as much as 25 thousand dollars for this.
YellowStoneFX — Deposit and Withdrawal of Funds
The broker accepts all Visa or MasterCard cards. However, before funding the account, you will need to contact the manager personally. Why traders should do this is unclear to us. Usually, it is enough for the client to upload documents and pass verification. However, YellowStoneFX insists on a personal conversation for some reason.
There is no way to upload documents to your personal account. There you will only be able to specify personal data. Color copies or photos of documents can only be sent to YellowStoneFX email. At the same time, the company does not say how long the verification will take. You will need to send a photo of an ID card or passport, a utility bill, and a photo of a bank card on both sides. CVV code needs to be covered.
YellowStoneFX offers education and market analysis. However, don’t count on it too much. Analysts must necessarily have specialization and confirmation of skills. It is a misconception to think that every Tom, Dick and Harry can do this. You should not trust your deposits to strangers whose analytical abilities you are not sure of.
Is YellowStoneFX a Scam?
So far, all the proposals by YellowStoneFX have not impressed us. They look like typical attempts by a pseudo-broker to extort as much money as possible from gullible customers.
Legal Information and License
Unfortunately, YellowStoneFX has not chosen the best jurisdiction to work in. We read in the documents that the broker’s management company is registered offshore. Moreover, its official location is Saint Vincent and the Grenadines.
There are only a few such offshore countries, so beloved by scammers. The problem is that their local regulators do not issue licenses to online brokers. A company can only obtain a certificate of incorporation. Further, no one supervises its work. In the case of YellowStoneFX, it’s the same thing. The company has an offshore registration, but no license. That’s why it has such high leverage and other strange trading conditions.
Yellowstonefx.io Domain Info
The term of work of this broker does not add enthusiasm either. Usually, traders are advised to choose companies that have existed for at least five years. Not many young brokers really want to stay in this field.
Yellowstone also appeared not so long ago. We checked the domain and found out that it was registered on June 7, 2022. By the way, the company in the registry of Saint Vincent and the Grenadines also appeared around this time. So, this broker obviously works too little to call itself experienced and claims that only here clients will find the best.
You can contact YellowStoneFx managers by phone or by email. The broker does not have a real headquarters, so a personal meeting with employees is impossible. Besides, customers complain that they have to wait a very long time for answers from the support.
We noticed how the broker confidently declares a worldwide presence. However, it has not worked for six months yet. A minuscule number of people visit its site. We don’t understand why the company lies to traders about its successes.
Pros and Cons
- Several types of accounts.
- The company is actually registered.
- Short working time.
- Offshore registration.
- The broker does not have a license.
- Negative reviews.
- The minimum deposit is too high.
Frequently Asked Questions (FAQ)
With this broker, you can trade CFDs. YellowStoneFX also has additional services such as market analysis or education.
There is a high minimum deposit on the platform. You will need to fund your account with at least a thousand dollars.
No, it’s an offshore broker. YellowStoneFX has only been working for about six months and hasn’t even received a license.