Markets Yes Review
Markets Yes is not safe to trade with. If you search for this broker on the web, you will find a lot of negative Markets Yes reviews. This is not a mere coincidence. It is very hard to make money with this broker, if ever possible.
Although we can count a lot of disadvantages of this broker, we can outline the biggest ones:
- Not regulated
- No demo account offered
- Full information about trading accounts is not available
- Provides extensive educational materials only to VIPs
- Only one trading platform offered
- Poor options for making deposits and withdrawals
Now let’s proceed to the full Markets Yes review.
Markets Yes Broker Regulation
Unfortunately, we did not find any evidence of regulation on Markets Yes website. This is an upsetting fact, considering that Markets Yes claims to have the main office in London.
All UK brokers are obliged to be regulated by FCA. However, official FCA website did not provide us with any information about Markets Yes license. Hence, it simply does not exist.
Markets Yes: Trading Accounts
Upon opening a live trading account, the broker asks to choose one of the 5 suggested packages: 1) Basic; 2) Standard; 3) Intermediate; 4) Diamond Pro; 5) Black. According to FAQ, Markets Yes is also supposed to offer a free practice account with $3,000. However, it seems that the broker has posted a misleading info in this context. This is because there is no actual opportunity to apply for the demo.
What is also concerning is that the broker is only partially transparent about the features of real trading account packages. The size of the spreads and the available leverage for Basic and Standard account remain under a veil of secrecy. Even if there is a commission scheme applied to these accounts, the broker does not give any chance to verify this. From Intermediate to Black, Markets Yes offers 1:200 leverage for FX and 1:20 for other assets.
Many great FX brokers provide a free access to all the educational facilities. However, Markets Yes proposes tutorials, e-books, webinars, seminars, strategies and case studies only for the owners of Intermediate, Diamond Pro and Black accounts.
In turn, Basic and Standard accounts grant a very limited access to trading education. Since these accounts are dedicated to the beginner traders, it seems unjust that Markets Yes Forex broker does not provide guidance to those who need it most.
Another topic for debate are the costs of opening the trading account. Let’s check them:
- Basic – minimum $250
- Standard – minimum $1,000
- Intermediate – minimum $5,000
- Diamond Pro – minimum $10,000
- Black – minimum $50,000
Makrets Yes Trading Software Review
While it is a sort of trend for new brokers to offer MetaTrader 4, marketsyes.com scam has come up with its own trading platform. The platform is web-based and it can be opened in two modes – FX or binary options. There is also a possibility of trading on the go, thanks to the mobile trading. One can trade different assets with this platform such as currencies, commodities, stocks, indices, ETFs and bonds.
The platform itself is not very bad, but it is certainly not user-friendly. Unfortunately, Markets Yes platform is poor in terms of design. Furthermore, problems with performance is also a pending issue.
Deposits & Withdrawals
To make deposits and withdrawals at Markets Yes, one can only use credit or debit cards (Visa and MasterCard) and the wires. Our Markets Yes review did not indicate any other payment options.
In order to become eligible for the withdrawal, Markets Yes requires uploading the necessary documentation. However, we highly recommend withholding from providing any personal information to the fraud.