Is YunikonFX Safe?

WikiFX is a global forex broker regulatory inquiry app that has investigated and then reviewed over 40,000 brokers while collaborating with more than 30 national regulators. To learn more about the security and legitimacy of your chosen forex brokers, simply log on to www.wikifx.com and utilize the search bar for all the answers related to your broker inquiries.

At first glance on WikiFXs website, YunikonFX has a fairly low rating as the company does not have much information that could prove its reliability.

YunikonFXs website (www.yunikonfx.com) is not accessible in Malaysia as of writing.

It was only accessible with the help of a VPN mobile application.

YunikonFX or Yunikon Financial Limited is registered at Beachmont Business Centre, 348, Kingstown, Saint Vincent and the Grenadines.

WikiFX checked the directory of registered entities on the website of the Financial Services Authority of St. Vincent and Grenadines via this link: https://svgfsa.com/company-name-search/ and found that Yunikon is indeed a registered company within the region.

YunikonFX currently only offers MT4 platform for its trading clients.

However, there is an official announcement on the page of YunikonFX stating that MetaQuotes had terminated the full service of Spartan Capital Markets, which is YunikonFXs white label provider thus they are teaming up with another company to gain access through MT4. This is an important red flag that should not be ignored. MetaQuotes has been on the quest of eliminating scammers from committing crimes through its platforms, therefore the block imposed on YunikonFX is not something that should be taken lightly.

Regulatory status:

The biggest red flag is that YunikonFX does not operate with a valid license. There is no information regarding its regulatory status on wikifx.com and neither is there any proof on YunikonFX official website.

This is the reason why WikiFX gave YunikonFX such a low rating because it is a broker that possesses a lot of uncertainties and potential risks. Having no license and being unregulated means that clients trading capitals are at a much higher risk.

Conclusion

WikiFX does not recommend YunikonFX as it is a risky broker with no license nor any other form of regulatory status. Given that there are a myriad of forex brokers in the market with higher credibility coupled with licenses and regulatory statuses, traders who wish to trade with YunikonFX should reconsider this decision carefully or make further research personally.

Not just that WikiFX gives YunikonFX a low score, there are several videos on social media claiming that YunikonFX is a scam.

Forex brokers can be easily found and compared with just a few clicks on www.wikifx.com or on the WikiFX mobile app that is available for free download on both Google Play and App Store. Get your hands on WikiFX now to ensure that you are backed by a trustworthy forex broker in your trading journey.