About YFOREX
Company Overview
YFOREX (yforex.com) is an online forex and CFD broker established on April 7, 2021. The company is registered in Saint Vincent and the Grenadines, with a registered address at Suite 305, Griffith Corporate Centre, Kingstown. The broker operates under the corporate name YForex and offers trading in currencies, commodities, indices, and CFDs. It is important to note that YFOREX does not hold any financial regulatory license from a major regulatory authority.
Regulation and Safety
Our review has confirmed that YFOREX is not regulated by any known financial regulatory body. The broker is registered in Saint Vincent and the Grenadines, a jurisdiction known for its light regulatory oversight and where many unregulated forex brokers choose to incorporate. Traders should be aware that dealing with an unregulated broker carries significant risks, including lack of investor protection, no recourse to a financial ombudsman, and potential issues with fund segregation. FXCanary's Scam Risk Score for YFOREX is 46 out of 100, indicating a guarded level of risk.
Account Types and Features
YFOREX offers five distinct trading account types: Regular, STP, Interbank, VIP, and Islamic. Minimum deposits range from $0 for Regular and Islamic accounts to $5,000 for the VIP account. Leverage varies by account, from 1:50 on the VIP account up to 1:500 on the Regular account. The broker claims spreads starting from 0.0 pips on the Interbank and VIP accounts, with commission structures on those two accounts. All accounts are offered as either standard or raw spread, with STP and Interbank accounts being raw feed.
Trading Platforms and Instruments
While the known facts do not specify the trading platforms offered, the website suggests a web-based trading environment. YFOREX lists instruments including forex, indices, oil, and gold. The broker positions itself as a True STP NDD broker, meaning it claims to pass client orders directly to liquidity providers without dealing desk intervention. However, without regulatory verification, these claims cannot be independently confirmed.
Client Support and Funding
The broker provides a UK phone number (+44 33 0808 3344) and email support (info@yforex.com). The website is available in multiple languages, suggesting an international client base. Specific details on funding methods are not provided in the available data, but typical options for unregulated brokers include bank wire, credit cards, and e-wallets. Traders are advised to verify funding channels directly with the broker.
Overview compiled by FXCanary from regulatory records and public data. full YFOREX review