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YunikonFX Review 2024
Minimum
deposit:
deposit:
- $10
Trading platform:
- YunikonFX Trader
Regulation:
- FSA
Bonus for deposit:
- 0%
Minimum
deposit:
deposit:
- $10
Trading platform:
- YunikonFX Trader
Regulation:
- FSA
Bonus for deposit:
- 0%
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Summary of YunikonFX Trading Company
YunikonFX is a high-risk broker with the TU Overall Score of 2.87 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by YunikonFX 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. YunikonFX ranks 328 among 414 companies featured in the TU Ranking, which is based on the evaluation of 100+ criteria and a test on how to open an account.
YunikonFX has both advantages and disadvantages, so this broker is not suitable for every trader. Its trading conditions and service cannot be called the best on the market, because YunikonFX’s fees are not the lowest, and the technical support speed is inferior to its competitors.
YunikonFX has been providing brokerage services for over 4 years. It is registered with the Financial Conduct Authority of Saint Vincent and the Grenadines (SVGFSA) and operates under the laws of this country. YunikonFX provides access to trading currencies and various types of CFDs on the OTC (over-the-counter) market, including U.S. stocks, stock indices, and commodities. This broker's clients can use leverage, connect with expert advisors, and earn on partnership programs.
| 💰 Account currency: | USD |
|---|---|
| 🚀 Minimum deposit: | $10 |
| ⚖️ Leverage: | Up to 1:1000 |
| 💱 Spread: | From 0 pips |
| 🔧 Instruments: | Currency pairs, metals, CFDs on stocks, indices, and oil |
| 💹 Margin Call / Stop Out: | 100%/50% |
👍 Advantages of trading with YunikonFX:
- Minimum deposit is $10 on self-trade accounts and $20 on autotrade accounts;
- Several live account types;
- No swap for all instruments;
- Spreads are from 0 pips and fees are on the level with this broker’s competitors;
- Availability of a demo account with conditions similar to the Standard account;
- Multi-level partnership programs with high rewards for referral trading;
- Functional trading platform with one-click trading, as well as built-in expert advisors and indicators.
👎 Disadvantages of YunikonFX:
- This broker is registered in an offshore zone and is not licensed;
- High spreads on Pro Cent and Standard accounts;
- Slow support service.
Evaluation of the most influential parameters of YunikonFX
User Satisfaction i
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Expert Review of YunikonFX
YunikonFX claims to be a universal broker, as it offers products for traders with different experiences and strategies. On its platform, you can conduct both manual and automated trading, use leverage, use the Pro Cent account, and hedge positions. The company also has a 15-level partnership program which provides for earning money even without trading on the Forex market.
However, YunikonFX also has its disadvantages. The major one is the lack of reliable regulation. This broker operates within the jurisdiction of Saint Vincent and the Grenadines, which is an offshore zone. So YunikonFX currently does not have an official license to provide services for entering financial markets. The company does not disclose its liquidity providers, so there is no way to assess the quality of quotes. There is also no information about the location of its trading servers on its website, which does not allow us to judge the order execution speed.
YunikonFX claims 24/7 support, but messages sent to Telegram remain unread for several hours. This broker’s website says that phone support is available, but no contact numbers are provided, so it’s necessary to complete a form to order a call back and wait for a response from YunikonFX’s representatives.
Dynamics of YunikonFX’s popularity among
Traders Union’s traders, according to 2023 data
Investment Programs, Available Markets and Products of the Broker
YunikonFX is focused on active trading, and passive income is available to its clients. If traders prefer to receive income from trades without personal participation in the trading process, they can use algorithmic trading. If the priority is to receive profits without operations with financial instruments, traders can use a partnership program.
Autotrading is one of the ways to earn passive income on Forex
YunikonFX has partnered with expert advisors (EAs). They are offered to clients with a special account type for autotrading such as Pro Cent autotrade. The key features of algorithmic trading at YunikonFX are:
Buy and sell orders are automatically placed when the price reaches certain values or moves in the trend direction;
Minimum deposit is $20;
Advisors are available for trading currencies, gold, silver, energies, and stock indices;
This broker does not charge a fee for providing access to the service. Its only fees are for spreads.
Autotrading is allowed on its Pro Cent account. Its currency is U.S. dollars. Minimum spreads are 0 pips. Typical spreads for currency pairs start from 1.4 pips, for indices, its from 0.7 pips; for energies, spreads are from 5.2 pips; and for metals, spreads are from 1.7 pips.
Important!
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 YunikonFX:
Self-trading Affiliates. It is a 6-level program with a 200% reward for trading of direct referrals and 100%-10% for trades by referrals in levels 2-6. Only trades closed above 5 minutes are included in the partner reward calculation;
Autotrading Affiliates. Depending on the total deposit and the number of connected referrals, the partner is assigned one of four statuses, which are Samurai, Daimyo, Shogun, and Emperor. Each differs in their respective rewards. The maximum amount per month is $250,000. The number of referral levels is 15.
Traders who use YunikonFX for automated trading can receive a bonus of up to $70,000 per month in addition to the basic partner reward. To do this, build 3 or more referral branches, the participants of which will not only trade but also attract their own referrals.
Trading Conditions for YunikonFX Users
YunikonFX provides for trading currencies and CFDs on the OTC market. The minimum deposit to start active trading is $10, and it is $20 for algorithmic trading with expert advisors. The maximum trading leverage for automated trading is 1:1000; for the Standard account, it is 1:300-1:500; and for ECN, it is 1:100. There are four live account types without swaps and a demo account.
$10
Minimum
deposit
1:1000
Leverage
24/5
Support
| 💻 Trading platform: | YunikonFX Trader |
|---|---|
| 📊 Accounts: | Demo Standard, Live Standard, Live ECN, Live Prime, and Pro Cent with autotrade |
| 💰 Account currency: | USD |
| 💵 Replenishment / Withdrawal: | Bank transfer, Visa, Mastercard, Skrill, Neteller, FasaPay, and cryptocurrency transactions |
| 🚀 Minimum deposit: | $10 |
| ⚖️ Leverage: | Up to 1:1000 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 Spread: | From 0 pips |
| 🔧 Instruments: | Currency pairs, metals, CFDs on stocks, indices, and oil |
| 💹 Margin Call / Stop Out: | 100%/50% |
| 🏛 Liquidity provider: | Own providers |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market execution |
| ⭐ Trading features: | Special account type for trading with EAs is available |
| 🎁 Contests and bonuses: | No |
Comparison of YunikonFX with other Brokers
| YunikonFX | RoboForex | Pocket Option | Exness | Vantage Markets | FxPro | |
| Trading platform |
YunikonFX Trader | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Pocket Option, MT5, MT4 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MT5, WebTrader, Mobile Apps | MT4, MobileTrading, MT5, cTrader, FxPro Edge |
| Min deposit | $10 | $10 | $5 | $10 | $50 | $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 1:500 |
| Trust management | No | No | No | No | No | 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 points |
| Level of margin call / stop out |
100% / 50% | 60% / 40% | 30% / 50% | No / 60% | 100% / 50% | 25% / 20% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | Yes | No | No | No | No |
Broker comparison table of trading instruments
| YunikonFX | RoboForex | Pocket Option | Exness | Vantage Markets | FxPro | |
| Forex | Yes | Yes | Yes | Yes | Yes | Yes |
| Metalls | Yes | Yes | Yes | Yes | Yes | Yes |
| Crypto | No | No | Yes | Yes | No | Yes |
| CFD | Yes | Yes | Yes | Yes | Yes | Yes |
| Indexes | Yes | Yes | Yes | Yes | Yes | Yes |
| Stock | Yes | Yes | Yes | Yes | Yes | Yes |
| ETF | No | Yes | No | No | No | No |
| Options | No | No | No | No | No | No |
YunikonFX Commissions & Fees
Information
YunikonFX’s spreads for currencies, metals, and CFDs on stocks start from 0 pips; for CFDs on indices, it’s from 0-0.6 pips subject to the account type; and for CFDs on oil, it’s from 4.2-4.4 pips subject to the oil brand. Fees on stocks are 0.6% on the Standard account and 0.55% on the Prime account. On the ECN account, spreads for all assets start from 0 pips. Fees per lot for currencies and metals are $3.5; for indices, it’s $0; and for CFDs on stocks, it is 0.5% of the position size. This broker does not charge deposit or withdrawal fees.
| Account type | Spread (minimum value) | Withdrawal commission |
| Pro Cent | $10 | No |
| Live Standard | $10 | No |
| Live Prime | $10 | No |
| Live ECN | $10 | No |
This broker does not charge swaps for any instrument traded. The comparative table below shows average fees of YunikonFX as compared to other Forex brokers.
| Broker | Average commission | Level |
| YunikonFX | $10 | High |
| RoboForex | $1 | Low |
| Pocket Option | $8.5 | Medium |
Detailed review of YunikonFX
YunikonFX is a rather young broker, but it has already received a number of awards for its activities, including the Best Service in Europe and Asia. In 2023, it introduced the proprietary YunikonFX Trader platform, which works on different devices and produces high-quality technical analysis and convenient trade worldwide. YunikonFX offers the ECN and STP accounts with different conditions; the Pro Cent account is for low-risk trades, and the demo account is for practicing trading without depositing real funds.
YunikonFX by the numbers:
Services are provided in 50+ countries;
Monthly trading volume is $3+ billion;
200,000+ registered accounts;
500+ million completed transactions per year.
YunikonFX is suitable for automated and manual trading
The company's Standard and ECN self-trade accounts provide for trading currencies, gold, silver, DE30Cash and US30Cash indices, and CFDs on stocks of over 60 U.S. companies. If traders prefer auto trading, they are offered a more diverse choice of stock indices. Moreover, trading Brent and WTI crude oil is available on the autotrade account, but CFDs on stocks are not available. Leverage depends on the account type. It is up to 1:100-1:1000 for currency pairs; up to 1:50-1:1000 for metals; up to 1:20-1:100 for indices; and up to 1:20 for stocks and energies.
This broker offers the YunikonFX Trader proprietary trading platform, which is a modified version of MetaTrader 4. It is available for PC (Windows), Mac, and iPhone/Android-based mobile devices. YunikonFX Trader supports over 50 built-in indicators, TradingView charts, one-click trading, hedging, and various cent accounts.
Useful services offered by YunikonFX:
2FA (Two-Factor Authentication). It provides additional protection against third-party logins;
FAQs. This is a section with useful information for potential clients, such as conditions of trading and partnership programs, rules for passing verification, deposits and withdrawals, etc.;
Training account. A demo account is for practicing trading without the risk of losing money.
Advantages:
1
No deposit or withdrawal fees;
2
Simplified registration process that takes about 3 minutes;
3
Deposits and withdrawals can be made using cryptocurrencies;
4
Ultra-fast execution speed of less than 0.1 second;
5
High leverage for professional and retail traders.
YunikonFX’s clients can combine active Forex trading with algorithmic trading using programs built into the platform. This broker does not require a large first deposit, so its services are available even to traders with minimum trade-available funds.
Guide on how traders can start earning profits
All YunikonFX’s account types are Islamic by default, that is, swaps (fees for transferring positions overnight) are not charged. STP and ECN execution models are available, as well as a dedicated account type for automated trading. Each client can have an unlimited number of trading accounts with different leverage, which varies depending on the asset and account type.
Account types:
Account Type
Description
Live Standard
It is an account for independent trading currency pairs, metals, and CFD on indices and stocks. Leverage is 1:20-1:500;
Live Prime
This account type is also designed for active traders who make money on trading currencies and CFDs. Leverage for stocks and indices is the same as for Standard, while it is up to 1:300 for currency pairs and metals;
Live ECN
It is an account for independent professional trading. Leverage is limited to 1:100, and spreads for all assets are minimal;
Pro Cent with Autotrade
It is a unique cent account for trading with EAs. Leverage is up to 1:1000 for currencies and metals; and up to 1:100 for CFDs.
To practice trading with virtual funds, traders can use the Standard demo account, which provides for testing the conditions of the Live Standard account without the risk of losing money.
A wide range of trading accounts is an important advantage of YunikonFX over other Forex brokers. The absence of swaps is also a plus for traders who use its services for trading financial instruments on the OTC market.
Investment Education Online
Information
There are no educational tutorials or articles on the YunikonFX website. The company does not train novice traders and does not give investment advice, but only offers execution services. In the Support section of the website, you can find answers to questions about trading with YunikonFX and some basics of Forex trading.
Information available with YunikonFX
Information not available on the YunikonFX website
What is Forex?
Rules for building an effective strategy
Difference between demo and live account types
Basics of fundamental analysis
Explanations of spread, pip, leverage, margin, and swap
How to use technical indicators and Japanese candlesticks?
How to calculate the required margin?
How to minimize risks when trading volatile instruments?
How to earn on partnership programs?
Psychological preparation for Forex trading
Any trader can register a demo account on the YunikonFX website and use it to gain practical trading skills.
Security (Protection for Investors)
Information
The legal name of YunikonFX is Yunikon Financial Ltd and it is registered by FSA of St. Vincent and the Grenadines under number 26015. A registration number is not a license number, which means that YunikonFX is currently unregulated.
👍 Advantages
- All clients, retail and professional, trade on equal terms
- Traders can deposit and withdraw cryptocurrencies
- To open an account, verification is not required
👎 Disadvantages
- This broker is not regulated
- YunikonFX does not cover trader losses in case of bankruptcy
- The service offer does not limit this broker’s actions and provides for changes in conditions without notifying its clients
Withdrawal Options and Fees
Available withdrawal channels depend on the client's country of residence. The channels are bank transfers, bank cards, electronic systems, and crypto wallets;
Funds are received by a client within 5-7 business days;
This broker does not charge a withdrawal fee;
The minimum withdrawal amount for the autotrade-capable account and cryptocurrencies is $20. For wire transfers, the minimum is 50 MYR, 300,000 VND, 200,000 IDR, or 500 THB. There are limits on the maximum amount per transaction.
Customer Support
Information
Technical support is available 24/5 GMT via phone and online. The company's website does not contain a phone number for communication, but it is possible to ask for a call back from a YunikonFX representative.
👍 Advantages
- Round-the-clock support during trading sessions
- Non-clients of this broker can contact support
👎 Disadvantages
- Client service doesn’t work on weekends
- Chat in Telegram works with breaks
To contact the company, use the following communication channels:
Telegram (see the “Need Help?” button on the website);
email;
feedback form.
Telegram allows communication in three languages, namely English, Indonesian, and Chinese.
Contacts
| Foundation date | 2022 |
| Registration address | Yunikon Financial Ltd, Beachmont Business Centre, 348, Kingstown, Saint Vincent and the Grenadines |
| Regulation |
FSA |
| Official site | https://www.yunikonfx.com/ |
| Contacts |
Email:
support@yunikonfx.com,
|
Review of the Personal Cabinet of YunikonFX
To create and activate a user account on the YunikonFX website, follow these instructions from TU experts:
1
Go to the main page of this broker's official website, click the “Open An Account” button, and choose your preferred account type. The form that appears is universal for both manual and algorithmic traders.
2
Specify your personal information, email address, residence, and phone number. Also, create a reliable password to protect your user account. After receiving a confirmation letter by email, enter your user account using your email address and password.
3
Features of YunikonFX’s user account:
Additional features of the user account:
-
Autotrade. This section provides for opening accounts for automated trading, history of transactions, and reports on partner rewards;
-
Self-trade. This section provides for creating accounts for independent trading, as well as information on trades and referral rewards;
-
Withdrawal. This section is for submitting withdrawal requests and viewing the history of previously made withdrawals;
-
Trading History. It indicates trading volume in lots, prices for opening/closing a trade, and the amount of received profits;
-
System Security. Here traders can enable 2FA, change their passwords, pass identity verification, and set up email notifications;
-
Client Support. This is a form for requesting help by phone and email. The FAQs section is also available here.
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FAQs
Do reviews by traders influence the YunikonFX rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about YunikonFX you need to go to the broker's profile.
How to leave a review about YunikonFX on the Traders Union website?
To leave a review about YunikonFX, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about YunikonFX on a non-Traders Union client?
Anyone can leave feedback about YunikonFX on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.
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