Yuan Pay Group Review – Is Yuan Pay Group a Scam or a Good Broker?

Is YuanPay Group An Unlicensed Trading Exchange?

YuanPay Group has no license. The company is constantly changing domains and has a large number of websites. The company’s owner and headquarters are not listed, which is a major red flag.

We searched major databases to find the YuanPay Group regulation. Unfortunately, we did not find anything. It was even worse than that. Scam alerts were everywhere.

One website, yuanpaygroup.com (which was still active on May 2023), shows that the company provides a platform to trade and exchange crypto for digital Yuan. They claim to be offering traders around the world exclusive access to the Chinese-backed coin.

Their operation may not be as credible as their presentation. The Chinese government has issued a digital currency in conjunction with the Central Bank and is not granting access to random companies. Be on the alert and beware of YuanPay Group scams.

Every day new scam brokers and trading bots appear on the web with only one goal – to steal your money. We have already exposed some of them, for example – Nextonbid, Titan Fund Recovery, FxAlta.

Official Warnings From Financial Authorities

We’ve received warnings against YuanPay Group for their trading app due to the many complaints. With fuss comes a lot of attention. In this case, a negative response from official regulators.

First in line was New Zealand’s FMA. A notice from November 2020 states that YuanPay Group International SA is the owner of YuanPay Group. The company is not allowed to offer financial products or services without being on the FSP Register.

In March 2021 Belgian FSMA published a warning about Yuan Pay App. This was also republished by Denmark.

In November that year, the Austrian FMA sent out a warning about yuanpaygroup.org. This unknown entity was soliciting Austrian Investors. The notice states that this provider isn’t authorized to conduct banking transactions in Austria.

We received an alert on April 17, 2023 in Spain regarding the domain name yuanpaygroup.com. The provider was not authorized to provide investment services in the country, according to the alert. This warning has been republished by Norway and Belgium.

As you can see, regulators are fighting the YuanPay Group fraud for many years. Don’t risk your money. It won’t work out well.

YuanPay Group Reviews – Traders’ Experience

Trustpilot is a credible platform for reviews. In May 2023, there were 165 customer reviews for the YuanPay App. 96% of these reviews were 1-star. This is a score that we seldom see even from big scammers.

Traders also shared their negative experience on other forums such as Quora. It’s obvious that the firm in question is to be avoided.

Choose only trustworthy and reliable brokers. You can read about the best ones in our article Best online brokers in 2023.

Can I Withdraw My Profits?

YuanPay Group withdrawals are not available. You won’t find any mention of the payment options, or how to withdraw your profit, if you have any.

The biggest red flag is this. You can’t do much about a scam if a company is unable to guarantee a payout, and there are no regulations or authorities supporting their work. You can’t go to the Financial Ombudsman for help or ask money from a compensation fund.

The situation becomes a little more complicated when it comes to payments made with digital coins. If you wish to gather enough evidence for a legal proceeding, then you will need to use sophisticated software to track crypto transactions. However, you can still request a refund if you used your debit/credit cards within 540-days.

Yuan Pay Group: Video

Below you will find a short video about Yuan Pay Group. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Yuan Pay Group!