YaMarkets Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $10
- MT4
- MT5
- WebTrader
- 2016
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $10
- MT4
- MT5
- WebTrader
- 2016
Our Evaluation of YaMarkets
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
YaMarkets is a high-risk broker with the TU Overall Score of 2.26 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by YaMarkets clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker. YaMarkets ranks 385 among 413 companies featured in the TU Ranking, which is based on the evaluation of 100+ criteria and a test on how to open an account.
YaMarkets offers generally favorable trading conditions. It allows traders to work with a wide range of financial instruments and use leverage. Trading is carried out through MT4 and MT5, which are the most popular platforms. There are no artificial restrictions. There is a demo account and four live accounts. You can start with $10, though other currencies are not available. A special advantage is a large number of bonuses and promotions, including rebates from Traders Union (TU). YaMarkets has an excellent copy trading service and an extensive training program for traders of all levels.
Brief Look at YaMarkets
The broker entered the market in 2016. It is headquartered in Saint Vincent and the Grenadines and is regulated by several authorized organizations, including the Financial Services Commission of Mauritius (FSC) and the Vanuatu Financial Services Commission (VFSC). YaMarkets offers four account types and a minimum deposit of $10. CFDs on currency pairs, cryptocurrencies, indices, commodities, and metals are available for trading with the maximum leverage of 1:1000. Trading is carried out through the MetaTrader 4 (MT4), MetaTrader 5 (MT5), and WebTrader platforms. There are several options for depositing and withdrawing funds, such as bank cards, e-wallets, and crypto wallets. The broker has an extensive training program, which even includes its own TV show. YaMarkets constantly holds promotions for traders and partners. Technical support is represented by a call center, live chat, and email. It works 24/5 and is available in several languages.
- Four account types, plus a demo account, and instant order execution;
- The minimum deposit is $10, a fee is charged only on ECN accounts, and spreads start from 0 pips;
- The broker offers more than 80 financial instruments and the list is constantly expanding;
- Deposits are made instantly and withdrawal requests are processed on the day of submission;
- Traders can work with leverage, which depends on the asset and account type. The maximum is 1:1000;
- Multilingual technical support works 24/5 and its managers respond promptly;
- The broker has its own copy trading service, which is highly appreciated by experts.
- Ultimate and Standard accounts have rather high spreads;
- If traders are not registered with the broker, they cannot access full training;
- Technical support is available only on weekdays.
TU Expert Advice
Financial expert and analyst at Traders Union
YaMarkets is a trademark of YaMarkets Limited. It has been in the international market for 9 years and has proven itself well. Since the broker provides services in different regions, it is regulated by FSC with license number C165091 and VFSC with license number 14819. Also, the company reports to the National Futures Association of Saint Vincent and the Grenadines (NFA), and its license number there is 0543787. All this speaks in favor of the reliability of YaMarkets. TU’s study did not reveal any evidence of a violation by the broker of the stated conditions or failure to fulfill its obligations to its clients.
As far as trading is concerned, YaMarkets’ offer corresponds to the highest standards and can be defined as competitive. The company offers a demo account and several types of live accounts, which differ in the initial deposit, leverage, spreads, financial instruments, and other trading conditions. Among the presented assets are CFDs on currencies, cryptocurrencies, indices, precious metals, and commodities. It is important to note that the broker is sensitive to the wishes of its clients; therefore, it regularly supplements the list of assets available for trading. Transparency and a client-oriented approach are the advantages of YaMarkets.
The minimum trading volume is 0.01 lots, leverage is determined by the account type and asset, and its maximum is 1:1000. Stop out is 50%. Order execution is instant. In addition to favorable trading conditions, YaMarkets is known for its high-quality training program, which is partially available to unregistered users. It is impossible not to mention the copy trading service, which generally offers comfortable conditions. Fees are market average. The broker often holds promotions and gives out bonuses, but at the moment there is only one bonus program for traders and it is rebates from Traders Union. There are no complaints about the deposits and withdrawals of funds.
YaMarkets Summary
| 💻 Trading platform: | MT4, MT5, and WebTrader |
|---|---|
| 📊 Accounts: | Demo, Ultimate, Standard, Royale, and ECN |
| 💰 Account currency: | USD |
| 💵 Replenishment / Withdrawal: | Bank cards, e-wallets, and crypto wallets |
| 🚀 Minimum deposit: | $10 |
| ⚖️ Leverage: | Up to 1:1000 for certain assets |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | From 0 pips |
| 🔧 Instruments: | CFDs on currency pairs, cryptocurrencies, indices, commodities, and precious metals |
| 💹 Margin Call / Stop Out: | 70%/50% |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Instant execution |
| ⭐ Trading features: |
Four account types; Over 80 financial instruments; High leverage; Services for market technical analysis; Copy trading platform; Extensive educational program |
| 🎁 Contests and bonuses: | Yes |
The minimum deposit is the lowest amount traders can put into their accounts. Of course, they have the opportunity to replenish the balance by a larger amount when desired. The minimum deposit depends on the account type. For example, Ultimate accounts require a minimum deposit of $10, while to trade on ECN accounts not less than $5,000 must be deposited. The maximum leverage of 1:1000 is only available for selected assets. Leverage is determined not only by the asset, but also by the account type. For example, for Standard accounts it is up to 1:500, and the maximum leverage for Royale accounts is 1:300. YaMarkets’ technical support is capable and efficient. It is available 24/5 through three main communication channels.
YaMarkets Key Parameters Evaluation
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Trading Account Opening
To start trading with YaMarkets, register on its official website, go through verification, and make a deposit, which minimum level is determined by the account you select (no deposit is needed for a demo account). Below is a step-by-step guide to eliminate any questions in the process of registration.
Go to the broker's website, select the interface language in the upper right corner, and click the "Login" button. In the drop-down menu, select the "MT4 Register" or "MT5 Register" button depending on the platform through which you intend to work.
Choose the account type that suits you. Enter your first and last names, email address, and password, which needs to be confirmed. Click the “Next Step" button.
Enter your first and last names again, your date of birth, and your mobile phone number. Click the “Next Step" button.
Enter your registration address with the postal code. Click the “Next Step" button.
Agree to the terms of service by ticking the box, then go through the anti-bot check, and click the "Register" button.
You have registered your user account, but you cannot open a live account until you get verified. Read the pop-up message and proceed to verification, and upload scans or photos of the documents confirming your identity. Check your personal details and address. Enter your bank details and click the "Save" button.
After that, wait for the verification to complete and you will get full access to your user account with the ability to open a trading account.
Features of the user account:
Track the comprehensive statistics on open accounts with detailed parameters;
Access to up-to-date data on deposits, withdrawals, and internal transactions;
Tracking your income from invited referrals and status in the partnership program;
Become a signal provider or join the copy trading service as a regular trader;
Traders can download trading platforms and use technical analysis instruments;
Possibilities to study the materials of the YAM Academy and to apply to technical support;
Correction of registration information and configuring the security settings.
Regulation and safety
Safe trading with a broker is determined by many factors, but the main one is regulation. Brokers must be registered as financial institutions, but this does not give traders effective protection. Protection is provided by control of authorized international organizations, which confirm that a company operates transparently and fulfills its obligations to clients and partners. YaMarkets is regulated by FSC, VFSC, and NFA.
Advantages
- Managers and lawyers of the broker help traders when there is a dispute
- Traders can apply to any of the broker’s regulators
Disadvantages
- Regional protection mechanisms are available in a limited number of countries, for example, in UAE
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Ultimate | $1.8 | Yes |
| Standard | $1.5 | Yes |
| Royale | $1 | Yes |
| ECN | $0.1 | Yes |
When it comes to trading costs of a client, it is difficult to give specific numbers, because the fees charged by brokers while trading depend on many factors. However, in the table below, TU offers a comparison of the average fee of YaMarkets and those of its closest competitors. These are approximate values, but they clearly show which platform is more profitable to work with.
| Broker | Average commission | Level |
|---|---|---|
|
$1.5 | |
|
$1 | |
|
$8.5 |
Account types
As a rule, the account type is of primary importance, because it determines the basic trading conditions. In addition to a demo account, YaMarkets offers Ultimate, Standard, Royale, and ECN live accounts. The last of these has characteristics that are common to all accounts using the Electronic Communications Network (ECN). Ultimate accounts have a low entry threshold and are more suitable for novice traders. Standard accounts are the most universal in terms of trading conditions and have moderate leverage. Royale, in accordance with its name, is designed for professionals. It has a fairly high initial deposit, but it also offers the most extensive opportunities.
Account types:
Traders work on the MT4, MT5, or WebTrader platforms, which can be downloaded from the broker's website. A demo account is also available for MT platforms.
Deposit and Withdrawal
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If clients trade on demo accounts, they do not make a profit;
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On live accounts, traders earn on condition of successfully closed positions, whether independently, or by copy trading. Also, a referral program is available;
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Withdrawal of funds is possible at any time, traders only need to submit an application;
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The application is processed on the day of submission, except for weekends;
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Traders can choose any of the available withdrawal options, including bank cards and e-wallets;
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No fee is charged for withdrawing funds to bank cards, but there is a fee for other withdrawal channels.
Investment Options
Investment Programs, Available Markets and Products of the Broker
YaMarkets does not currently offer investment programs. Traders cannot invest in cryptocurrency staking or buy dividend stocks. Some experts see this as a disadvantage because options for passive income attract users. On the other hand, if the platform is focused on active trading, switching attention to third-party solutions may adversely affect the main mechanisms. In addition, YaMarkets has its own copy trading service, which actually generates passive income. Traders can join the service and copy trades of other market participants to their accounts, receiving profit proportional to their investment.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Partnership program from YaMarkets:
The broker has a standard referral program. Each trader who is already registered on the company's website can be additionally registered as its partner. After that, traders receive a personal link and can post it on any website. A trader who follows this link and registers with the broker becomes a referee of the link owner. Referrals bring up to $15 per 1 lot to the link owner and the number of referees can be unlimited. But there is more. The referral program includes a second level. That is, when a trader's referee invites a third person to the platform, the newest trader also brings a bonus to the original owner of the link, but only half as much. Payouts of the YaMarkets partnership program are among the highest in the segment.
Customer support
Technical (client) support is necessary in case of situations that traders cannot handle on their own. Such situations will arise in any case, regardless of the experience of a trader, the quality of the FAQs, and the intuitiveness of the website interface. At YaMarkets, technical support can be reached by phone, email, live chat, WhatsApp, or social networks. All communication channels are available 24/5, that is, they work around-the-clock on weekdays but do not work on weekends.
Advantages
- Non-clients of the broker can contact technical support
- Support is available in several languages
- On weekdays support works 24/7
Disadvantages
- Technical support is not available on weekends
To contact technical support, use the following communication channels:
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call center;
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WhatsApp;
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email;
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live chat on the website and in the user account;
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tickets on the page.
The broker has its official profiles on many social networks, such as Facebook, Instagram, YouTube, etc. It is recommended to subscribe to them to keep up-to-date with the latest news.
Contacts
| Foundation date | 2016 |
|---|---|
| Registration address | Suite 305, Griffith Corporate Centre, Kingstown, P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines |
| Official site | http://yamarkets.com/ |
| Contacts |
+357 22030234
|
Education
It is important for traders not only to stay in trading shape, but also to follow the market, and improve their own skills. Some brokers help their clients by offering educational programs. Often these are just sets of specialized materials, but sometimes, as in the case of YaMarkets, it is a complete system. The broker provides blog articles, selections in the educational center, video tutorials, and full-fledged TV shows conducted by the broker’s experts. Most of the information is available only after registration and verification on the website.
As you can see, the broker tries to cover most of the issues for its traders by offering an impressive amount of expert training materials. The YAM Academy is constantly evolving and expanding.
Comparison of YaMarkets with other Brokers
| YaMarkets | RoboForex | Pocket Option | Exness | Tickmill | Libertex | |
| Trading platform |
MT4, MT5, WebTrader | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MT5, Tickmill Mobile App | Libertex, MT5, MT4 |
| Min deposit | $10 | $10 | $5 | $10 | $100 | 100 |
| Leverage |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:1000 |
From 1:1 to 1:2000 |
From 1:1 to 1:500 |
From 1:1 to 1:30 for retail clients |
| Trust management | No | No | No | No | Yes | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0 points | From 0 points | From 1.2 point | From 1 point | From 0 points | From 0.1 points |
| Level of margin call / stop out |
70% / 50% | 60% / 40% | 30% / 50% | No / 60% | 100% / 30% | 50% / 50% |
| Execution of orders | Instant Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution |
| No deposit bonus | No | No | No | No | $30 | No |
| Cent accounts | No | Yes | No | No | No | No |
Detailed review of YaMarkets
YaMarkets works with traders worldwide, with subsidiaries in various regions. For example, in Dubai the company is registered under the name YAM Technology. However, the accounts support only one currency and it is the USD. This means that deposits in other currencies will be automatically converted at the market rate. YaMarkets has gained wide popularity due to favorable trading conditions. Its training program was compiled by experts and professional traders. It is well structured, includes only useful materials, and is interesting for traders with any experience. Another advantage is its own copy trading service, as not every broker has one. YaMarkets allows you to use bots and advisors, hedge, and trade news. Traders are not limited in choosing a strategy.
YaMarkets by the numbers:
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80 trading instruments;
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The minimum deposit is $10;
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It takes 5 minutes to open an account;
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Spreads start from 0.1 pips.
YaMarkets is a broker for independent trading and copy trading
An important advantage of the broker is a wide range of financial instruments. Not all brokers allow you to trade currencies, cryptocurrencies, indices, precious metals, and commodities. The more assets traders can use, the less they limit themselves, and the wider are their opportunities to diversify risks. In this aspect, YaMarkets demonstrates strong competition. The referral program is not considered as the option for passive income, because in order to receive significant referral bonuses, it is necessary to be highly active on the network. The copy trading service can be defined as an investment option, despite the increased risks, because traders do not trade on their own. In fact, signal providers trade for them.
Useful services offered by YaMarkets:
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Copy trading. The broker offers an integrated platform where traders can register as signal providers or investors. The program is 100% transparent, and fees are low;
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Education. It is one more built-in service that includes text and video materials on trading theory. Full training is available only to registered users;
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Instruments for technical analysis. There is a wide range of practically useful services, such as an economic calendar and expense calculator. They help traders simplify routine operations.
Advantages:
Traders can open a live account of one of four types and each of them is optimal in a particular situation;
Assets from all major groups are presented, which allows traders to use different strategies and diversify their portfolios;
Traders can receive additional income by participating in the referral program and inviting new users;
The copy trading service makes it possible to earn almost passively by investing in signal providers;
Traders pay spreads. Trading fees are charged only on ECN accounts, there are no other trading fees;
A withdrawal application can be submitted at any time, it is processed on the same day, unless it is submitted during non-working hours;
To deposit and withdraw funds almost any channel is available, including bank cards and e-wallets.
Another advantage is technical support. It is multilingual, represented by several communication channels, and works 24/5.
User Satisfaction