The foreign exchange market is a volatile environment, and a large dose of risk is always present when being involved in the process of trading currency pairs or any other asset. However, the risk becomes even more pronounced when you decide to invest with an unreliable broker, and that is why reading and learning a thing or two about particular companies is so important. Our FinanceYards review, for instance, will cover all the relevant features of this trading provider and our readers will be able to make an informed decision in the end.
Min. Deposit: $100 Demo: Yes
Platform: Custom Bonus: N/A
Regulation: N/A US Clients: NoSign up with IQoption Now
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
FinanceYards at a glance
Owned by Spot Capital Market Ltd, FinanceYards is a young company since it was officially established in 2016. The headquarters of this broker house are located in Limassol, Cyprus, and it also has a CySEC license (210/13). This permit perhaps eliminates the possibility of a FinanceYards scam, but new brokers still have to pass the test time before we could classify them as trustworthy and reliable. With less than a year of being active in the market, FinanceYards is still in the beginner phase, and we are not overly convinced that our readers should deposit their hard-earned funds with such an inexperienced trading provider.
How to start trading with FinanceYards
The majority of FinanceYards reviews will tell you that this broker offers an extensive selection of assets, and this number goes all the way up to 200 assets and around 20 different markets. However, unrealistic promises and false advertising are common in the foreign exchange market, and prospective investors need to be cautious and careful when starting their trading journey. When it comes to trading with FinanceYards, you will need to make a deposit of at least $200, and then you will have to choose your preferred account category – Micro, Premium, or VIP Gold. Of course, the Premium and VIP are coming with “extra services,” but we were unable to discover what benefits may go with those two types of accounts.
FinanceYards review – trading platform
When it comes to the software solution, FinanceYards broker utilizes a SpotOption platform, and this package is compatible with mobile devices as well. And even though it has a broad array of assets on display, this platform is not the best in the market, which means that most investors will have a hard time adjusting to this new model. Binary options trading is also incorporated into the portal at FinanceYards, with all the “traditional” trading modes – High/Low, OneTouch, and so on.
Bonuses and promotions
The website of FinanceYards broker house does not offer any information about gifts and promotional activities, which severely affected our efforts even to form our FinanceYards opinion. However, the lack of trading incentives is certainly something that no trader will appreciate, and that is why FinanceYards is not one of the best brokers out there. Without “generous gifts” and lucrative rewards, clients will never join your site, and this universal rule of trading applies to foreign exchange market as well.
Deposits and withdrawals are the essential activities that you perform when being involved in the Forex trading, and that is why FinanceYards should have put more effort into offering more options when it comes to money-processing methods. In other words, the majority of FinanceYards opinions are not satisfied with the array of banking options, and you can only use the site in USD, EUR, and GBP. When it comes to banking methods, credit cards, wire transfers, and a couple of e-wallet services are available.
The quality of customer support with FinanceYards Forex broker is not at a satisfying level, and besides a small number of webinars – there is not a lot of educational material on their site. Aside from that, FinanceYards staff can be reached via the phone number, but they do not offer a lot of other options and communication channels. Their offices seem to be located in Cyprus, UK, and Bahrain, but the overall quality of customer support needs to be on a much higher level if this broker wants to establish a decent fan base.
FinanceYards review – the final word
It is evident that FinanceYards still needs improvements, and our FinanceYards FX broker review pinpointed some of the areas that will require the most work. However, this company is still new, and they have time ahead of them to enhance their offer and become a more competitive Forex trading provider. For now, they are not even near the top level, and investors should perhaps steer clear of FinanceYards for the time being.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK