Yennex Markets is proclaiming to be an international Forex broker yet the popularity of their website says otherwise.
With several red flags on this website, it can’t be qualified to get a spot on this page (where we recommend the hottest and most reliable trading products to our audience.
In addition to offering currency trading services, the fake broker has listed several other services on their website which include:
2. Retirement planning
For a broker to provide these services, they must be a registered financial advisory firm.
The problem is that Yennex Markets is not a regulated investment firm. This brokerage service automatically becomes illegal in most countries and even risky for traders and investors.
In fact, this review will provide a warning to traders because clearly Yennex Markets does not appear to be a professional financial service as claimed.
Yennex Markets review: The Forex Trading service
Yennex Markets wants to give traders 5 different account types which can be used to trade 130 different tradeable instruments.
They also proclaim to be a diverse, flexible and transparent MT4 Forex broker.
In addition to this, Yennex Markets proclaims 10 years of experience. Of course it is not possible to verify this experience since company owners are also anonymous.
The only thing they tell us about themselves is that they’re from Sweden and they would like to give future to our investment.
We’re trying to find out about their various account types but this broker is not providing this information either.
As usual, Forex brokers will talk about leverage, spreads, trading conditions and minimum deposit required to open an account.
It seems that Yennex Markets is not intending to be transparent with details of their trading conditions or account types.
For that reason, we don’t believe your money will be safe in the hands of the people who run Yennex Markets.
More reasons why Yennex Markets is just a scam
The official website of this company (YennexMarkets.com) will provide you with all the red flags.
First of all, this company has no track record yet they claim to have one. Digging deeper into their supposed track record yields no fruit.
Their supposed “happy customers” are also none existence as no platform has ever published reviews about this company.
This is very strange for a broker that claims to have 10 years of experience in the game.
In fact, according to who.is, the website was registered in June 2020. This proves that the website’s marketing content is telling lies.
One more thing is that Yennex Markets is not a licensed broker yet they undertake multiple financial activities involving money solicited from naive investors.
We’ve always warned against using such brokers because they’ve proved to be a scam over time.
Our belief is that when you deposited the requested money into Yennex Markets’ bank accounts, you will never get it back.
We’ve observed this trend among several unregulated brokers who run their activities like YennexMarkets.com.
If only this company could market their service well, they could be popular by now, and that would mean scamming a lot of victims online.
However, this is not the case for our readers as we have already warned you.