YaMarkets

YaMarkets definitely doesn’t shine when it comes to selecting the best broker. We recommend you to search for more brokers and pick the ones that have lower fees, are better regulated and offer a bigger variety of instruments. There’s no shortage of better brokers in the market.

Trading Platform:

MT4/5, WebTrader

Max Leverage:

1000:1

Markets:

Forex, CFDs on Crypto, Commodities, Indices

Regulations:

SVGFSA, VFSC

Min Deposit:

$10

Open an account Read full review

Summary

Item: YaMarkets
Rating: 1
Author: Christopher Svorcik

Established in 2016, YaMarkets is an emerging player in Forex and CFD trading. Clients can trade with popular assets such as different currencies, commodities and indices. On top of that, YaMarkets takes pride in having a huge customer base all over the world, offering educational training and dedicated services to support and assist them throughout their trading journey.

It’s worth mentioning that the company doesn’t offer access to trading shares as CFDs or physical stocks, and the number of assets available for trading is very limited. There are many other brokerage firms in the industry that can offer a much wider variety of assets.

The broker is regulated and authorized by various regulatory bodies, however, none of the regulators are top tier. The list of regulators includes: Vanuatu Financial Services Commission (VFSC), St. Vincent & the Grenadines, MISA (MWALI International Services Authority). All the regulators that have authorized YaMarkets are very mild, which decreases the safety and trustworthiness of the broker.

It’s important to note that the broker has offered and offers many promotions and bonus campaigns. For instance, the broker was giving traders a 20% tradable bonus upon signing up and depositing funds. Such bonuses and promotions might be nice if you are going to a casino, but strictly regulated, reputable brokers do not promote a gambling like approach to trading.

Keep in mind that trading is not like a contest or fun activity, trading is a business. Novice traders often get attracted to flashy webpages and promotions and ignore important information such as number of assets offered, regulations and trading platforms.

The trading platforms offered by this broker are an industry basic. Majority of competitors also offer MetaTrader 4 and 5. When it comes to tradable instruments, the number is very limited. Traders have only access to trading approximately 100 instruments. What’s more, the broker doesn’t offer shares as CFDs or physical stocks.

Recently Yamarkets has refused to payout a profit share of $28,000 in relation to one of Elite CurrenSea managed accounts. We will update the review based on further story development.

The story has also been picked up by Insidetrade.co and forexnewsnow.com and several other news publications.

Overall

Pros

$10 minimum deposit
Copy/EA Trading
MAM Accounts

Cons

Limited number of trading instruments
Does not offer physical stocks or shares as CFDs
Not regulated by strict regulators
High leverage (dangerous for novice traders)
Platforms limited to MT4 and MT5

Fees

Pros

No inactivity fee

Cons

High spread markups on commission free accounts
High commissions on ECN account
5% transfer fee when using Visa and Mastercard

Trading Instruments

Pros

Forex
Crypto
CFDs on Major US Stocks
CFDs on Stocks

Cons

No availability of Futures, Bonds, Options Stock & ETF

Account Opening

Pros

Fast Onboarding (fully digital)
Customer-friendly

Cons

Broker has casino like promotions to convince traders to open accounts

Deposit & Withdrawal

Pros

Fast D/W
Low Minimum Deposit

Cons

High electronic wallet fees
5% transfer fee when using Visa and Mastercard

Trading Platform

Pros

Operates on Market-leading Platforms
WebTrader
MobileTrade

Cons

No proprietary platform
Limited to MT4 and MT5

Customer Service

Pros

Live Chat
Professional & Relevant
Our support team is online 24/7
Specialized training in FX

Cons

CS agents take a lot of time to respond to live chat questions

Research & Education

Pros

Demo Trading
Specialized training
Educational Videos
Economic Calendar
Yam Academy

Cons

Not quality information
Tools are basic
Promotion is aimed at attracting novice traders that treat trading as gambling

Regulation & Safety

Pros

MISA
VFSC
SVGFSA

Cons

No FCA, ASIC or top tier regulator
High leverage

Full Review

👎 YaMarkets definitely doesn’t shine when it comes to selecting the best broker. We recommend you to search for more brokers and pick the ones that have lower fees, are better regulated and offer a bigger variety of instruments. There’s no shortage of better brokers in the market.

Pros

Splendid customer service, a plethora of educational resources, easy to open up an account, low minimum deposit of $10.

Cons

The product offering is limited to Forex and CFDs, while the trading experience is limited to MetaTrader 4/5 and WebTrader (macOS/Windows/iOS/Android).

Fees

YaMarkets, promotes that its spreads start from 0, however, this is not true. Brokers usually have two main fees: spread markups and commissions. When brokers tell traders that their fees start from zero, it might be true for VIP accounts, but regular accounts have high fees. This is why it’s always critical for novice traders to study fees well before jumping into conclusions.

In the case of YaMarkets, the broker has extremely high fees on all the trading account types. If you are using an Ultimate account type, spreads start from 1.8 pips, which is very high. This means that actual spreads can be much higher in low liquidity environments. The 1.8 pips is just the broker’s markup.

If you are using a Standard account, spread markup is 1.5 pips. This is also very high compared to what other brokers are offering. Royal account type users will be charged 1 pip spread markup. Keep in mind that to open the Royal account, at least 2,500 USD is required.

The broker offers a low spread ECN account, where spreads start from 0.1 pips. However, traders shouldn’t get mistaken with this marketing trick. The ECN account is mainly charged using commissions. Commission fees are calculated per traded lot.

In summary, YaMarkets trading fees are very high. On the upside, there are no inactivity fees. However, inactivity fees are not a major factor when traders are picking the best broker.

Let’s first go through the fess terminology:

Trading Fees occur when you trade (spreads, commissions, financing rates, and conversions)
Financing or overnight rates (SWAPS) are charged when you hold your leveraged positions for more than 24 hours. Leveraged position means that you borrow money from the broker to trade.
Non-trading fees are withdrawal fee or inactivity fee, hidden fees.

To put things in a proper context we compare YaMarkets with the competing services, based on product offering, fee structure and customer profile.

Non-trading fees

	YaMarkets	Key to Markets	AvaTrade
Account fee	No	No	No
Inactivity fee	No	No	$50 after 3 months of inactivity, $100 after 1 year
Withdrawal fee	$0	$0	$0* above $300 only for bankwire, always free for e-wallet or credit card

Overall, non-trading fees are low with YaMarkets. However, it’s important to point out that there’s a 5% transfer fee when using Visa and Mastercard.

Trading Fees

At YaMarkets, “Trading Account” holders do not pay any additional fees on trading execution, just the spread markups and financing fees (“swaps” – also known as leverage fee). Also, ECN account holders pay commissions in addition to 0.1 spread markups.

Comparing trading fees among CFD brokers may get convoluted pretty quickly, for the purpose of making things more straightforward, we’ve decided to showcase all fees for trading the most common set of products using the standard YaMarkets account type.

Forex Fees

Non trading Forex fees are low with this broker. However, trading fees are super high. Novice traders might get attracted to a low $10 minimum initial deposit, however, this amount will only get you the Ultimate account type, which has super high spread markups starting from 1.8 pips.

Forex trading fees with YaMarkets are very high due to high spread markups and commissions on ECN account type.

Trading Instruments

YaMarkets offers a limited number of CFDs. The broker is mainly for Forex traders, and you won’t find any shares as CFDs or physical stocks with this broker.

Markets & Products General

	YaMarkets	XM	Axi
Stock	-	-	-
ETF	-	-	-
Forex	60+	48	34
Fund	-	-	-
Bond	-	-	-
Options	-	-	-
Futures	-	-	-
Cfd	46	122	51
Crypto	-	5	3

Account Opening

The account is usually ready within the same day – without complicated procedures and quick response rates.

YaMarkets offer 4 types of trading accounts, each tailored to different levels of experience.

What makes the account opening process with this broker a negative experience is the promotion and offerings that they make. The promotions are casinos like where casinos offer free spins or bonuses. YaMarkets often offers tradable bonuses, margin bonuses, etc. And they have an expiry date. Beginner traders open accounts in a hurry with large leverage and later experience high spreads.

Trading Accounts

The Ultimate Trading Account is a great place to start if you’re new to trading. The minimum deposit is very low at just $10, and the maximum trade size is only $50. Each account is linked to a trading simulator, so you can practice strategies before you put them into real-world trading. The account comes with a margin call of 70% after you trade for 30 days, but this is more than most accounts charge. The Account Currency type is USD, and the Account Spread starts from 1.8 pips. The spread markup is very high for the Ultimate and Standard accounts. Keep in mind that the markup is simply a fee and in live trading environments spreads can be greater.

Spreads are naturally occurring in low liquidity and when brokers add spread markups, they tend to become significant.

Spreads and trading fees might not seem too much for you, but if you are making a large amount of trades, the fees add up and become significant.

The Royale account type has average fees, however, in order to open this account, traders need $2,500.

Main Difference between Account types:

	Ultimate Trading Account	Standard Trading Account	Royale Trading Account	ECN Trading Account
Minimum Deposit	$10	$500	$2500	$5000
Minimum Trading Volume	0.01	0.01	0.01	0.10
Leverage	1:500	1:500	1:300	1:200
Spread Markup	1.8	1.5	1	0.1
Commission	No	No	No	Yes

Deposit & Withdrawal

Available via several options, the deposit & withdrawal (d/w) process is quick and inexpensive (except for digital wallets).

Withdrawal Methods	Bank Wire (Bank Transfer), AstroPay, Bitcoin, and Skrill
Deposit Methods	VISA, MasterCard, AstroPay, Bitcoin, Local Bank Deposits, Local Exchangers, PayPal, Paytm, PerfectMoney, Skrill, VoguePay

Deposit options

	YaMarkets	XM	Axi
Bank transfer	Yes	Yes	Yes
Credit/Debit card	Yes	Yes	Yes
Electronic wallets	Yes	Yes	Yes

You can only d/w from entities on your name. Digital wallets deposits arrive instantly, whereas wire transfer might take up to 3 business days.

There are no withdrawal fees.

Withdrawal fees and options

	YaMarkets	XM	Axi
Bank Transfer	Yes	Yes	Yes
Credit/Debit card	Yes	Yes	Yes
Electronic wallets	Yes	Yes	Yes
Withdrawal fee	$0	$0	$0

Platform & Trading Experience

YaMarkets offers a basic version of MetaTrader 4/5 and comes without a native macOS support.

MetaTrader is the most popular Forex and CFD platform, available in multiple languages and supported by the largest FX community.

MetaTrader 4 and 5 are very powerful platforms, however, these platforms are offered by most other brokers too. MT4 was released in 2005 and MT5 in 2010. Since their creation, the two platforms have not updated much and for many traders they feel outdated. Unfortunately, the broker doesn’t offer more modern looking platforms such as cTrader or others.

Customer Service

Although YaMarkets rarely calls for support, their level of email and knowledge-base support is very clear and concise.

YaMarkets is accessible via various live chart options, however, customer support agents take a lot of time to respond to live chat questions.

Research & Education

YaMarkets’ research tools are limited to the following types:

Trading calculator
Web-based news feed
Educational Videos
Economic calendar
Web TV
Daily Trading Signals

However, traders need to be aware of dangers associated with trading. A broker that promotes bonuses and live trading contests is focused on teaching traders to place more trades and make more deposits, rather than promoting professional trading. To become a professional trader, it is not needed to have daily signals or Web TV, quality education is much more important.

Regulation & Safety

YaMarkets Ltd is an international Forex broker with a Vanuatu Financial Services Commission (VFSC) 14819 special brokerage license. This means that global customers will be getting financial services that are regulated by the (VFSC).

While being regulated is definitely very critical, it’s essential to point out that the VFSC is not a strict regulatory body. There are many top tier regulators such as ASIC, UK’s FCA, ESMA, that have much stricter requirements than VFSC.

Vanuatu does not require brokers to have a certain leverage framework. Offering a sensible leverage is critical for profitable trading and as we know, YaMarkets offers up to 1000:1 leverage. This kind of leverage can easily lead traders to blown up trading accounts. And it actually does. A majority of beginner traders that trade using a high leverage lose money. The regulator also doesn’t have restrictions on bonuses or rebates.

What’s more, Vanuatu doesn’t require negative balance protection or having a membership of an investor compensation scheme from the brokers.

For the reasons above, we believe that global customers of YaMarkets have a higher risk of losing money. When registering an account, it’s critical to choose a sensible leverage. Profitable trading is based on having a profitable strategy and managing risks. When risks are spread on many trades, the trading edge starts bearing fruit. When a single trade becomes too significant due to high leverage, trading balance can become zero in a day. What’s more, if the broker doesn’t implement negative balance protection, traders might end up owing money to their broker.

YaMarkets Limited is authorized and regulated by the MISA (MWALI International Services Authority) for the brokerage services (License T2022091).

Address: Bonovo Road – Fomboni Island of Moheli – Comoros Union

St. Vincent & the Grenadines – YaMarkets Limited is registered in St. Vincent & the Grenadines as an International Business Company with the registration number 26065 BC 2020.

Address: Suite 305, Griffith Corporate Center, Kingstown P.O. Box 1510, Beachmont Kingstown St. Vincent and the Grenadines

Vanuatu Financial Services Commission (VFSC) – YaMarkets Limited is authorized and regulated by the Vanuatu Financial Services Commission (VFSC) 14819

Address: Law Partners House, Kumul Highway, Port Vila, Vanuatu Postal Address Po Box 212, Port Vila, Vanuatu

All the regulators above are very mild and do not have strict restrictions on brokers. These factors make YaMarkets safety levels fragile.

In a nutshell

YaMarkets is regulated by low tier regulatory bodies that make the broker less trustworthy. What’s more, the leverage offered is up to 1000:1, which is highly dangerous for novice traders. The broker promotes casino-like trading using bonuses and trading contests, which is not how professional traders trade.

What’s more, offered platforms are the most popular MT4 and MT5, however, these platforms are also offered by the majority of other brokers. In addition, traders have limited trading instruments to trade. There are no CFDs on shares or physical stocks.

Trading fees are very high. The broker says that the spreads start from 0 pips on its front page, however, this is not true. The minimum spread markup has ECN accounts, and even these accounts have high fees due to commissions. In addition, to open the ECN account, traders need to make at least a $2,500 deposit. Spread markups on standard account types are 1.5, which can grow in live trading environments radically due to low liquidity.

To sum everything up, YaMarkets definitely doesn’t shine when it comes to selecting the best broker. We recommend you to search for more brokers and pick the ones that have lower fees, are better regulated and offer a bigger variety of instruments. There’s no shortage of better brokers in the market. .

Brief Overview

🏛 Country of regulation	Vanuatu, Saint Vincent And Grenadines
💸 Trading fees class	Low
💸 Inactivity fee charged	No
💸 Withdrawal fee amount	$30 from the second withdrawal of the month
💸 Minimum deposit	$10
⏰ Time to open an account	Less than a day
💳 Deposit with credit card	Yes
👛 Depositing with electronic wallet	Available
🎮 Demo account provided	Yes
📊 Products offered	Forex, CFDs on Crypto and Commodities

More reviews

TradingView

Parent company:

Private

Type:

Charting platform

Release Year:

2011

Price:

free/paid

Open an account

Bitsgap

Parent company:

Private

Type:

Crypto platform

Release Year:

2018

Price:

from $19/month*

Open an account

FreeTrade

Trading Platform:

Custom Mobile

Max Leverage:

1:1

Instruments:

ETFs, Stocks

Regulation:

UK FCA

Min. deposit:

Open an account

United Traders

Trading Platform:

Aurora

Max Leverage:

1:20

Instruments:

Stocks, IPOs, ICOs, Crypto

Regulation:

CBR

Min. deposit:

$300

Open an account

Milton Prime

Trading Platform:

MT4/5

Max Leverage:

1:500

Markets:

Forex, Crypto CFD, Indices CFD, Stock CFD

Regulations:

FSA, CySEC

Min Deposit:

$400

Open an account