CFD Review: YouTradeFX

Important Facts 
  • Regulation: youtradeFX is the trading name of Youtrade Capital Markets Limited. who are authorized and regulated by the FSA of the United Kingdom. Though youtradeFX has somewhat of shady past with many alleging that they were an unregulated Israeli based entity. 
  • Features: Demo Accounts and a various educational tools.
  • Instruments: Forex, Commodities and limited Stocks. 
  • Leverage: Up to 300:1 on Forex Instruments, Up to 50:1 on other instruments 
  • Minimum Deposit: $100  
The Platform 
YoutradeFX offers a variety of different ways to trade the financial markets offering both the MetaTrader 4 & 5 platform. Both these platforms are very popular with traders and youtradeFX claim that there is no slippage on their platform. It’s not made clear what support if any they offer for those using Expert Advisors with their platform and whether they allowing scalping etc. They also offer a web trader application based on the Srix software which is perfectly functional allowing traders to open and close positions as well as undertaking basic charting etc. They also offer the MetaTrader mobile program and another web mobile trading platform providing plenty of provision for those who want to trade on the move, which will definitely be of interest to some people. They also have the widely available social trading platform mirror trader again which will be of interest to those who engage in social trading. Though it should be noted that those who want to social trade would be better of using a platform such as ZuluTrade or eToro. YouTradeFX is one of the 65 different brokerages that offer ZuluTrade support so it’s possible to use ZuluTrade in conjunction with YouTradeFX.  
 
Special Features 
There is nothing particularly unique about the offering from YouTradeFX with their offering seeming to be particularly unremarkable. It should be mention that YouTradeFX does remark that they offer the best one to one coaching around, but as I have never been on the receiving end of this coaching I cant comment on how good or valuable it is. Many brokerages seem to be offering new clients one to one coaching and I can see why many brokers offer such a service. As a final note it should pointed out that YouTradeFX also offers demo accounts. 
 
Spreads 
The Spreads on offer at YouTradeFX aren’t particularly tight with only two major pairings being tight as 3 pips. You would be able to find much tighter currency spreads at a number of other regulated brokerages. The situation isn’t much better when it comes to commodity and stock CFD’s with some of the spreads being pretty wide even on some of the more popular instruments. I’m pretty certain that one could find a provider who offers a better overall range of spreads. This seems to be a good enough reason to avoid trading at YouTradeFX as getting a good deal on spreads can make a huge difference in terms of profits and losses.  
 
Customer Service 
YouTradeFX has a particularly bad reputation when it comes to customer service, with many saying that withdrawals can take upwards of two weeks. With YouTradeFX allegedly ignoring these customers and not getting back to customers after they have complained about not receiving their withdrawals. There have also been accusations that representatives from YouTradeFX have been giving glowingly positive reviews to their website at a number of Forex websites. It will be interesting to see if anyone leaves suspicious reviews here. Though YouTradeFX claims they offer great customer service their seems to be plenty of testimonials which paint a very different picture. 
 
Regulation 
YouTradeFX parent company YouTrade Capital Markets Ltd. was founded in 2011 and became FSA regulated in 2012, but before hand was believed to be operating from Israel completely unregulated. After a little digging I found that 3 out of the 4 directors of YouTrade Capital Markets Ltd. have very Jewish names suggesting at least some possible connection with Israel. Another thing that suggests that this company has foreign origins is that again 3 out of the 4 directors have YouTrade Capital Markets Ltd. business address also listed as their home address suggesting that these particular directors are based outside of the UK. Either that or they live in the offices of YouTrade Capital Markets which is highly unlikely. All this being said YouTradeFX has a clean regulatory slate with no disciplinary action ever being undertaken against them by the FSA. Though to be fair the company has only been regulated since April 2012 and Regulatory bodies can take a long to react and undertaken investigations. 
 
Overall, I would personally avoid dealing with YouTradeFX.
 

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