This review shows that Yennex Markets is a broker that you should avoid if you don’t want to lose money to scammers.
What is Yennex Market
Yennex is a broker that will let you trade with different financial assets: currencies, stocks, indices and commodities.
The broker offers a real account, a bitcoin account and a practice account. The minimum deposit amount and minimum trade amount are not known because the company does not provide this information on its official website.
Yennex Market claims to be based in Sweden and to be regulated by the Financial Conduct Authority in the United Kingdom. Can you trust this broker, is it legit?
Yennex Markets scam
The sad truth is that Yennex Market is a scam broker that you should avoid. It can’t be trusted.
The reason why Yennex is not legit is because it is linked to a fake regulator. The broker claims to be regulated by the FCA, which does not make sense in the first place. Because Yennex is supposed to be located in Sweden while FCA is a British regulator.
But the main thing here is that Yennex is not regulated by the FCA and it points to a fake FCA website. At the bottom of the broker’s official website you will find two links to the FCA’s website, but the links lead to the TheFCA.cc domain, which is fraudulent. It mimics the official FCA’s website and it lists Yennex as a regulated company, but it’s fake.
The real website of the FCA is FCA.org.uk. And you won’t find Yennex there because it has no license whatsoever.
Scam brokers are never regulated. Some of them claim to be regulated while they are not. But Yennex Market took it to another level, they created a fake regulator website and listed themselves there to fool people. Don’t fall into their trap.
Purposedly misleading visitors and creating a fake website of a regulator is really a horrible scam and it shows that Yennex won’t hesitate to take your money and keep it without providing anything in return.
There is nothing more you need to know about Yennex. It does not matter what markets you can trade with them, what the minimum deposit is or if they have any investment program with appealing returns. Because this broker is a scam, you can be sure that you will lose everything you send them.
If you already sent money to Yennex, ask them to send it back immediately. If they refuse, threaten them with complaints to regulators and the police. If it does not help, ask your payment provider for help with reversing the deposit transaction. And submit you complaints to relevant authorities.
Yennex Markets review – Conclusion
Yennex Market is a scam broker because it pretends to be regulated while it’s not and links to a fake regulator’s website. Stay away from it!
If you want to try financial trading, do it with a regulated broker and start on a free demo account with virtual money.
If you later choose to invest real money, be sure to understand the risk and proceed carefully.