While this company initially boasts an impeccable reputation and claims to operate from a prestigious London address, a closer inspection reveals a far less rosy picture. It becomes apparent that their reputation has been artificially bolstered, their operations are questionable, and their trading terms come with exorbitant costs.
That’s why it is imperative to scrutinize every morsel of information provided by the company. Should you unearth even a single inconsistency, it is strongly advised to steer clear. To delve deeper into our assessment of YorkPro, please read our comprehensive review.
Short on Licensing
While the YorkPro website remains shrouded in opacity with no disclosure of company information, their legal documents do mention the owning entity as York Trade Estonia OÜ.
Despite the company’s legal incorporation in Estonia, it is glaringly deficient in possessing a legitimate Forex trading license. The regulatory body for this jurisdiction, Finantsinspektsioon, has no records of an entity by this name.
Furthermore, an exhaustive search across regulatory institution databases such as FCA, FINMA, FSMA, and BaFin yields no traces of YorkPro. In stark contrast, KNF has issued a public warning regarding this fraudulent scheme, with the document subsequently republished by IOSCO.
For the sake of safeguarding your funds, accessing compensation plans, and employing effective risk mitigation strategies, it is strongly recommended to opt for a better-regulated broker. ForrestFX is another brokerage that should be approached with caution.
Unveiling the Scheme
The domain yorkpro.com was initially registered in 2005, verifiable through a WhoIs search. Prior to 2016, coinciding with the company’s registration, the website’s history is obscure, with minimal information available about its previous owners.
The majority of the platform’s users are located in the following countries:
- Canada
- Brazil
- United States
- Switzerland
YorkPro exhibits a remarkable proficiency in mimicking legitimate trading platforms. Every aspect of their platform has been meticulously selected and designed to evade automated fraud detection systems. The fabrication of fake reviews further compounds the deceit, contributing to the camouflage of their treacherous scheme.
Completing this charade are the boiler room agents who work relentlessly to lure more individuals to the platform and extract as much money as possible from their victims.
If you find yourself entangled with YorkPro, ChaseTrades, or a similar scheme, we urge you to get in touch with our legal experts.
Deceptive Online Reputation
The only source where you’ll stumble upon purported customer experiences about this broker is Trustpilot, and it’s apparent that these reviews are heavily manipulated. These reviews have all been posted by networks of paid content creators.
One way to discern this type of deception is by cross-referencing with reviews on other reputable websites. A trustworthy company would typically have a consistent rating on platforms like SiteJabber. However, this broker fails to garner any presence or recognition on such platforms.
Conclusion
In conclusion, YorkPro presents a facade of credibility that quickly crumbles under scrutiny. Despite legal documentation suggesting ownership by York Trade Estonia OÜ, the lack of a genuine Forex trading license, combined with a notable absence from regulatory databases, raises significant red flags.
The website’s historical obscurity before 2016 and the opacity surrounding previous owners add to the suspicion. YorkPro’s adept mimicry of legitimate trading platforms, along with the creation of fraudulent reviews, further serve to obfuscate their true intentions.
Boiler room agents labor tirelessly to entice unsuspecting individuals, leaving them financially drained. It is imperative for those involved with YorkPro, ChaseTrades, or similar schemes to seek legal counsel promptly.
The broker’s deceptive online reputation, exclusively propped up by manipulated Trustpilot reviews, underscores the need for caution. A lack of recognition on other reputable review platforms only adds to the skepticism. In light of these findings, choosing a well-regulated broker with a transparent track record is strongly advised.
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