YS GLOBAL is a forex broker registered on the official website on July 4, 2023. It primarily offers financial trading services such as forex, precious metals, energy, and indices to investors. The company's headquarters have not been disclosed. The broker does not provide services to any jurisdiction where it may violate local laws or regulations.
Corporate registration information and regulatory status:
According to the publicly available information on its official website, YS GLOBAL is registered in Mauritius and holds a government regulatory license with the number 190132. The office address is Level 6 Ken Lee Building, 20 Editb Cavell St, Port Louis, Mauritius. The company's registered entity in the United States holds a general license from the National Futures Association (NFA) and a regulatory license from the U.S. MSB, with numbers 0552973 and 31000231441742, respectively.
Upon verification, the Financial Services Commission (FSC) of Mauritius has not found any entity with the registration number 190132, and a search in the Companies and Business Registration Department (CBRD) of Mauritius reveals that the company registered under the number 190132 is named AUGUSTIN BEARDA LIMITED. Furthermore, the broker is registered with the NFA as a non-member entity and is not regulated by the NFA. Additionally, the mission of the U.S. MSB is to protect the financial system from illegal use, combat money laundering and related crimes (including terrorism), and promote national security through the strategic use of financial authorities and the collection, analysis, and dissemination of financial intelligence. It does not regulate or issue licenses for forex brokerage activities.
Account Opening:
To open an account with YS GLOBAL, one needs to click on the "Register" option in the upper right corner of its official website. Upon entering the account opening interface, users are required to provide their name, email, ID number, nationality, set a password, ID card, bank account, bank name, cardholder's name, bank address, and a photo of the front side of the bank card. The broker supports UnionPay cards, with the U.S. dollar as the base currency.
Account Information:
YS GLOBAL requires a minimum deposit of $200 for a trading account, with the stop-loss level set at 50%. The broker has not disclosed information about the types of accounts it offers, trading leverage, spreads, trading volume ranges, maximum position sizes, margin levels, and additional account information.
Trading Platform:
YS GLOBAL claims to provide a trading platform using the MT system on its official website. However, upon downloading, the platform appears very similar to MT4, but it does not show other brokers, and the official MT4 software cannot find YS GLOBAL.
Deposits and Withdrawals:
YS GLOBAL supports users to deposit and withdraw funds using UnionPay cards. For deposits in Chinese Yuan, the minimum amount is $200 per transaction, and the exchange rate is based on the real-time rate of the U.S. dollar. There is no limit for deposits in U.S. dollars. For withdrawals in Chinese Yuan, the minimum amount is $200 per transaction, and there is no limit for withdrawals in U.S. dollars. Withdrawals are limited to once per day, with a Chinese Yuan limit of 20,000 and no limit for U.S. dollars. After depositing, no fees are charged for withdrawals if the following conditions are met: deposit $100 and trade 0.1 lot, or deposit $1000 and trade 1 lot, and so on. If the deposit does not meet the required trading volume for withdrawal, a 5% service fee will be charged.
Customer Support:
The broker only supports users to contact YS GLOBAL for customer support via email at Safeguard@ys-fx.com / Service@ys-fx.com.
Summary:
Traderknows reminds investors that the regulatory information promoted by YS GLOBAL is false. It has not obtained any forex and derivative trading licenses, is currently unregulated, and the information about its trading accounts is unclear. The communication channel is limited, and the trading platform used is not a legitimate MT4 trading platform. Traderknows advises investors to stay away from this broker when choosing a trading platform and to select well-regulated and reputable platforms to avoid unnecessary financial losses. Currently, this broker is marked as "suspected of fraud" on Traderknows.
