youtradefx.com Broker Review
Our Overall Rating
Sources indicate that on 20/09/2011 the company youtradefx.com received a warning fromFrench FMA. The address on record for youtradefx.com is unknown.
YoutradeFX is a forex broker which offers to trade in Forex, stocks and CFD’s on a trading platform like MetaTrader 4, MetaTrader 5 and web trader. The broker claims to offer its services in 10 different languages however, the entire site is written in German, with no option of converting it into any other language with high-quality information.
According to the sources, Youtradefx does not provide complete support to all the traders and also maintain their website properly. Youtradefx had been a part of the ASIC as a regulated Australian Forex company but there have been reports saying that the broker is no longer regulated by ASIC. Also, the broker has indulged in financial scams by siphoning money away from trader’s accounts and obstructing their access to the broker’s customer service departments.
In 2014, ASIC (Australian Securities & Investments Commission) issued a warning against Youtradefx group which states:
- Youtradefx group is not regulated by ASIC
- Youtradefx does not hold AFS licence
- Youtradefx has not operated under the name “Youtrade Capital Markets Australia Pty Ltd”
- ASIC has cautioned the investors to be aware before investing with YoutradeFX
Based on the available information, Youtradefx is now blacklisted by the FPA and it considers as a scammer. The FPA does not recommend to open an account with any branch of YouTradeFx or any company associated with it. If you have an account there, the FPA recommends that you attempt to withdraw your funds immediately and always be careful before investing your money.
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