YoutradeFX Video Review
youtradeFX is one of the few internet brokers that is legitimately licensed and regulated by the Australian Securities and Investments Commission (ASIC), the Financial Services Authority (FSA) in UK and The Financial Services Commission (FSC) in Mauritius. Established in 2008 and chartered in Mauritus, the company operates from several satellite offices around the world. Apart from dealing with Forex, youtradeFX also deals with CFD’s, commodities and Stocks.
YoutradeFX Reliability – Is YoutradeFX a scam?
Nowadays, it is easy to find an online Forex broker. The advancement in ecommerce especially in the area of online payment processing and orders execution has certainly brought the financial markets to the doorsteps of the small time investor. Nevertheless, the task of searching for a reliable and reputable is not as easy due to the Forex industry being filled with scam artists. Thus, apart from being able to trade well, it has become equally as important to find a broker who is not only legitimate but also who will help you become profitable by providing a fair trading environment.
Reliability of YoutradeFX
One of the key factors in determining the reliability of a broker is by asking a basic question. Are they licensed to conduct business? This is a fair question as it goes to follow that a Forex broker who is licensed will work within the boundaries that are imposed by the regulatory agency which grant the licence. In this respect, YoutradeFX reign supreme among many other internet Forex brokers in the industry.
Although YoutradeFX was chartered in Mauritius in 2008, it had taken the trouble to ensure that it is also licensed in two other countries, Australia and United Kingdom (UK). Registered as International YouTrade Investments MA Ltd with its legal address at 4th Flr, Unicorn Centre 18N St. Port Louis, Mauritius, YoutradeFX is regulated by the Mauritius Financial Services Commission (FSC). Apart from banking and global business, the FSC regulate the financial services industry in Mauritius.
In Australia, YoutradeFX is registered with the Australian Securities and Investments Commission (ASIC) with the Australian Financial Services License #398528. This means YoutradeFX is now able to legally accept trading clients from Australia. Clients whose origin is from Australia are now protected by the regulations that are set by ASIC.
The same reasoning also applies to YoutradeFX registration with the UK Financial Services Authority (FSA). The FSA is the regulatory body that is charge of monitoring the financial services sector in the UK. Its licence (548033) allows YoutradeFX to “…to hold and control client money”. Incidentally, because the UK is part of the European Union (EU), this also mean YoutradeFX is able to deal with clients from the EU. To support their European operations, YoutradeFX also maintain an office at:
You Trade Holding (Cyprus) Limited. HE 258620, Libra House Office Complex, 2nd floor, Flat/Office 205, Panteli Katelari 21, Cyprus
What this demonstrates is that YoutradeFX had gone through considerable pains and cost to ensure that it is properly licensed to conduct business in the majority of the world. What we can infer from this is the fact that YoutradeFX is unlikely to mistreat a customer and risk losing its licenses.
Operational History of YoutradeFX
As mentioned earlier, YoutradeFX started off in Mauritius in 2008. Since then, it has opened up satellites offices around the world and ensuring that it is properly licensed in those countries. Since the four years that they have been in business, they have gone through great lengths to improve their services as well as to promote them. What is clear from their operational history is the fact that the YoutradeFX aims to grow bigger. This speaks volumes about the legitimacy of YoutradeFX in the Forex brokerage industry.
youtradeFX provide several types of trading platform for their clients. They have:
Most popular trading software around
MetaTrader 5- the newest offering from MetaQuotes
All the features of MetaTrader 4 and the ability to trade several financial markets from one account
MetaTrader 4 MultiTerminal
Allows users to manage multiple accounts simultaneously. A platform for portfolio managers or money managers
Mobile Metatrader Platform
Trade on the go with the “trade anywhere” IPhone application
Free Zulutrade account to test the reliability of signal provider and auto trade
Allows users to trade from any internet access terminal. No download of software require
Allows fully automatic trading or semi-automatic trading by mirroring or following trades of more experienced traders
Commissions and Spreads
youtradeFX does not charge their clients any commissions. Instead, they charge a fixed spread. The list of spreads can be found on their website.
Being properly regulated, it is expected that youTradeFX’s customer service is top notch. They offer support for several major languages. Clients wishing to get in touch with the customer support team can skype them or call their support team.
As mentioned earlier, youtradeFX maintained several satellite offices around the world. Their offices can be found at the following addresses:
youtradeFX conduct promotional offers from time. Currently the bonuses that they are offering include:
- $100 free sign in bonus
- 50% welcome bonus up to $2000 deposit
- Payoneer MasterCard – allows low cost withdrawal of profits anywhere around the world with no hassle
- Free Demo account
- Peace of mind being a regulated company
- Fixed Spreads
- Can trade CFDs, Stocks, Commodities as well
- Low minimum deposit ($100) required to open a trading account
- Good range of tools provided
Their educational section seems a little basic. This area can do with some improvement.
It’s rare to find a company that trys hard to establish its legitimacy around the world. Most internet brokers tend to focus on just one part of the world unlike youtradeFx. In this respect, youtradeFX is truly a globalized company. One can definitely be assured and feel secure when dealing with youtradeefx.