Yazhi Market – Is It Secure?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Yazhi Market - DO NOT TRADE WITH THIS PROVIDER
2.3/10
$100
Minimum Depositupdated 2020
Nowadays the shady forex brokers are steadily becoming adept at concealing their true faces and natures. Yazhimarket is just another example of such a broker that seems to have everything yet hides many important aspects of it. Yazhi market claims to be owned and operated by Yazhi market Ltd that is an offshore enterprise registered and located in St. Vincent and Grenadines, which is the most famous area for illicit forex brokerage companies. This offshore zone lacks a forex regulator due to which they cannot give authentic licenses to the brokers. So, all the brokers including the Yazhi market who claim to be regulated in the Caribbean island are actually not.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://yazhimarket.com/
Founded: 2020
Regulations: Unregulated
Languages: English
Deposit Methods: Debit/Credit card (Master and Visa), Neteller, Skrill, and Bank wire transfer
Minimum Deposit: $50
Free Demo Account: None
Number of Assets: 110+ trading assets
Types of Assets: Forex, Metals, Indices, and digitals
Trading Accounts and Conditions:
Yazhi market is offering three types of accounts to its traders with the following mentioned conditions:
- Classic Account: minimum deposit amount is $50, the leverage level is 1:400, and spreads start at 0.9 pips.
- Premium Account: minimum deposit amount is $250, the leverage level is 1:400, and spread starts at 2.0 pips.
- VIP Account: minimum deposit amount is $5000, the leverage level is 1:200, and spread starts at 0.3 pips.
Yazhi Market – Advantages:
Yazhi market does not offer any kind of incentives or rewards to the traders.
Yazhi Market – Disadvantages:
-
An Anonymous and Unregulated Broker:
Nowadays the shady forex brokers are steadily becoming adept at concealing their true faces and natures. Yazhimarket is just another example of such a broker that seems to have everything yet hides many important aspects of it. Yazhi market claims to be owned and operated by Yazhi market Ltd that is an offshore enterprise registered and located in St. Vincent and Grenadines, which is the most famous area for illicit forex brokerage companies. This offshore zone lacks a forex regulator due to which they cannot give authentic licenses to the brokers. So, all the brokers including the Yazhi market who claim to be regulated in the Caribbean island are actually not.
Moreover, the Yazhi market claims to have a piece of local legislation “The International Business Companies Act”, that allows them to offer forex brokerage services to the customers even including services of most leveraged instruments like CFDs and cryptocurrencies. This is because local laws impose no restrictions on it. Even though it seems fine if the Yazhi market offers its forex services solely to the traders of St. Vincent and Grenadines area but the problematic fact is that the Yazhi market displays a UK number which means they are targeting the UK market illegally. It looks like the broker thinks that the registration of the St. Vincent and Grenadines area is enough to offer forex services even to European countries as well. However, they are not licensed and authorized by the UK’s FCA regulatory authority. Therefore, as there is no other piece of regulatory information found on the website, it is concluded that the Yazhi market is an offshore-unregulated fishy enterprise that is operating illegally.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
-
Shady Withdrawal Policy:
Lack of supervision of official financial regulatory authority makes offshore brokers completely unaccountable for the ways they handle customer’s funds. Like all offshore brokers, the Yazhi market also offers trading bonuses to trap the customers and it is their commonly used tool to cancel the customer’s withdrawal requests. Although trading bonuses might look attractive, they always come with some strings attached to them so that traders become unable to withdraw money. Hence, if mistakenly you registered and deposited funds with this broker, you will have to agree with their terms and conditions and you will be given the trading bonuses as well that will be used as an excuse to cancel your withdrawal requests later on. Therefore, unregulated shady brokers like Yazhi market will straightforwardly refuse to process your withdrawal requests for whatever reason they show you. You will not be able to do anything about it because they are not obliged to follow any rules and regulations and you cannot file any legal action against them.
-
High Leverage and Risky Pips:
When opening their trading platform, it shows EUR/USD trading cost up to 3 pips which is an insanely high and unacceptable figure. The most commonly used spread in the market is between 1.5 – 2 pips. Any spread figure above this standard is unfavorable and risky to trade with. While the leverage level also shows the same situation. It is capped at 1:400, which is a quite high level. Therefore, putting it all together, these high spread and leverage figures are just a trap for the traders to attract them to invest money with this broker.
-
No legal documents:
The legal documents found on the website of the Yazhi market include only the basic information and details. While all other legal documents covering important business aspects are missing, which is a question mark on the legitimacy of this broker and shows that it has not taken things seriously. Whereas, all the legit authorized brokers always come up with all sorts of legal documents covering all the aspects of the trader and broker relationship. Therefore, short on the document side shows the carelessness of the Yazhi market about the trader and broker relationship.
-
Missing and Misleading Information:
On its website, the Yazhi market has displayed an agreement related to the property rights of its website, which they have labeled as terms and conditions documents. However, they have not displayed the real terms and conditions document that shows the aspects of their business.
Additionally, the broker has mentioned Visa and Mastercard as the deposit methods on its website. However, the traders were also able to deposit funds via a huge array of cryptocurrencies. While the user dashboard area of the trading platform shows some different payment methods. Therefore, it is suggested not to trust any of the information provided by this broker. Once deposited, it will never return your money no matter what.
Conclusion
Yazhi market shows itself as one the most reputed and trustworthy forex brokers in the industry offering transparent access to the forex services with attractive and competitive spreads and leverage levels, many types of trading accounts, and the most upgraded and famous Metatrader5 platform. However, not everything published on the website can be trusted blindly especially when the broker is non-legit and lies in the offshore area like the Yazhi market.
Therefore, it is an offshore fishy entity, operating without a legit forex license. Hence, it is better to choose brokers that are regulated by renowned regulatory bodies. Brokers with licenses from the UK, USA, or Australia are the most trusted ones because the regulation policies are strict.
Yazhi Market
Pros
- None
Cons
- An anonymous and unregulated broker
- Shady withdrawal policy
- High leverage and risky pips
- No legal documents
- Missing and misleading information
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.