July 20, 2020

YorkCG Review

Overview:

The offshore-based FX broker and CFDs provider YorkCG is registered in Saint Vincent and the Grenadines. The total number of trading accounts provided by this broker are four, namely Self-Managed, Gold, Platinum and VIP. All three of them can be operational by a minimum deposit of Euro 250, 10,000, and 50,000. However, VIP account is accessible only via invitations. The broker lacks financial regulation and is a worrisome fact. In this YorkCG review, our readers will find all the essential information needed before investing in this broker. We humbly request you to follow it till the last word.

About YorkCG:

The YorkCG is one of the brokers with a variety of trading assets. The diverse product portfolio consists of several FX pairs and CFDs on various indexes, shares, stocks, and Cryptocurrencies. The offered cryptocurrencies include Bitcoin, Ripple, Ethereum, and several others. The broker also offers good leverage ratio from 1:100 to 1:400 depending upon accounts and initial deposits. However, there is a high risk of fund loss with higher leverages.

Saint Vincent and the Grenadines based company called Milistor LTD is the owner of Brand YorkCG. The offshore zone of SVG is infamously famous for the hideout of many scam brokers. The regulations here are not that tight, and licensing require few documentations. In short, the brokers operated from SVG does not come under any regulations of the high standard required to be operational in regulated markets. We have come across many fraudulent scam brokers from this region.

Another worrying fact about YorkCG is its opaque information on trading conditions. The official website does not provide information on Spreads available. The broker also refuses to provide a demo account, and we could not test YorkCG’s trading conditions. Nevertheless, some of the reviews mentions of 3 pips spread on Euro-USD FX pair. The spreads provided is against trading benefits of the traders and raises the cost of trading.

Another possible drawback of YorkCG is that no MetaTrader is offered. The clients of this broker have to trade on a web-based trading platform. Also, several negative feedback can be seen on social media about YorkCG.

Is YoukCG scam or legit?

The reputation of YorkCG is questionable. The broker operates from the shady region without regulations and license. The trading condition is unattractive and does not favour traders. In our view, the YorkCG is a potential Australian trading scam and avoiding it is beneficial.