Overview of YSHX
YSHX is a recently established unauthorized UK-based financial broker that offers various trading services to its clients. They provide access to a range of tradable assets, including forex, stocks, commodities, indices, and cryptocurrencies. With a primary focus on forex trading, they offer leverages of up to 1:2000 for VIP account holders. The company employs the MetaTrader 4 trading platform from three different account types, namely Standard, ECN, and VIP, each with varying features and benefits.
Clients can make deposits starting from $100 for a Standard account, $500 for an ECN account, and $10,000 for a VIP account. Withdrawals and deposits can be carried out through various methods, including credit/debit cards, bank transfers, and e-wallets. YSHX provides customer support solely through email.
Regulation
According to the National Futures Association (NFA), YSHX has been labeled as unauthorized. The NFA, a regulatory authority in the United States, identifies the company as operating without the necessary authorization. As a result of this classification, YSHX is not permitted to conduct certain financial activities within the jurisdiction of the NFA.
The unauthorized status signifies that YSHX has not obtained the required license or approval to provide certain financial services. This lack of authorization can lead to potential risks for customers, as the company is not subject to the same regulatory oversight and scrutiny that authorized financial entities undergo. Unauthorized companies may operate without adhering to the same standards and regulations set by recognized financial authorities, potentially exposing traders to higher risks and uncertainties in their trading activities.
Pros and Cons
YSHX offers a variety of trading services, including forex, stocks, commodities, indices, and cryptocurrencies. With a selection of account types, clients have the flexibility to choose the one that best suits their trading preferences. The availability of high leverages may appeal to traders seeking higher potential returns. YSHX employs the widely used MetaTrader 4 trading platform and provides multiple deposit and withdrawal options. Lastly, YSHX offers a demo account, which allows traders to practice trading in a virtual market as practice before using actual currency.
Despite its offerings, the company's unauthorized status, which may expose clients to potential risks and limited protection. Moreover, the absence of specific information regarding their educational content may limit resources available to traders, impacting their trading experience. The company's limited customer support channels, with only email support available, may result in delays in resolving issues or inquiries. Lastly, the website lacks specific information of the details of deposits and withdrawal methods. YSHX offers email as the sole customer support option, greatly limiting the channels in what trader can communicate issues and questions about the service, which decreases the credibility of the company.
Ambiguous Website
The company's website lacks specific details regarding deposits and withdrawals. The absence of clear information on deposit and withdrawal methods can raise concerns for potential clients who seek to understand how they can fund their trading accounts and access their funds. Without this crucial information, prospective clients may find it difficult to assess the convenience, speed, and security of the deposit and withdrawal processes offered by the company. A reputable financial broker typically provides comprehensive details about various deposit options (such as credit/debit cards, bank transfers, and e-wallets) and withdrawal methods, along with information about any associated fees and processing times.
Market Instruments
YSHX offers forex, indices, and commodities as the main trading products. Specifics are as follows:
Forex: YSHX offers access to forex trading, covering major, minor, and exotic currency pairs with leverages of up to 1:400, providing potential opportunities for traders to speculate on global currency movements.
Indices: YSHX allows trading in various indices, offering leverages of up to 1:100, enabling clients to invest in the performance of stock market indices representing specific segments of the financial market.
Commodities: YSHX provides trading opportunities in commodities in the form of precious metals, allowing clients to trade assets such as gold and silver, offering diversification possibilities and potential hedging against market volatility.
The following is a table that compares YSHX to competing brokerages:
Account Types
YSHX offers three account types: Demo, Standard, and VIP. Specifics are as follows:
Demo Account: YSHX offers a demo account, providing traders with a risk-free environment to practice trading without using real money. This feature allows traders, including those new to trading, to familiarize themselves with the trading platform, test various strategies, and gain experience in the financial markets. By utilizing the demo account, traders can assess YSHX's trading conditions, execution speed, and user experience before committing real funds. It serves as a valuable tool for traders to build confidence and make informed decisions about using the broker's services for their trading needs.
Standard Account: YSHX offers a Standard Account type that can be activated with an initial deposit of 500 US dollars, and there is no threshold for follow-up funds, making it accessible to any customer. This account allows trading in foreign exchange, precious metals, commodities, and CFD products. Traders can take advantage of leverage up to 1:200, with a minimum trading volume of 0.01 standard lot. The product spreads offered are discounted spreads.
VIP Account: YSHX's VIP Account is tailored for more experienced and high-volume traders, requiring a minimum deposit of $10,000. VIP account holders have access to the widest range of tradable assets, including forex, indices, and commodities. With a high leverage of up to 1:2000, VIP account holders can take advantage of significant market exposure. Spreads for the VIP Account start from 0.0 pips, and there is a commission of $0.02 per lot traded. Like the Standard Account, VIP account holders have access to the MetaTrader 5 trading platform and receive customer support 24/7 through email.
How to open an account？
To open an account with YSHX, navigate to the Main page. From there, click on the Account tab from the website and select Open a live account.
2. You will be linked to a new page with a registration form to fill out.
3. Fill out the registration form with the required information and follow any further required steps as provided by YSHX.
4. Last, press the “Sign up” button in order to finish the account creation process.
Minimum Deposit
YSHX offers different minimum deposit rates based on the type of account chosen. For the Standard Account, the minimum deposit required is $500. On the other hand, the VIP Account demands a higher minimum deposit of $10,000, granting exclusive benefits.
Leverage
YSHX offers different leverage ratios depending on the market instrument and account type. The Standard Account provides leverage of up to 1:200, allowing traders to access forex, precious metals, commodities, and CFD products. The VIP Account, on the other hand, offers higher leverage of up to 1:2000 for forex, indices, and commodities. Unfortunately, there is no specific leverage information available for the VIP Account.
The following is a table comparing the maximum leverage for the mentioned market instruments between YSHX, OctaFX, FXCC, Tickmill, and FxPro:
Spread
For the Standard Account, spreads start from 0.01 pips for forex trading, while the VIP Account offers spreads starting from 0.0 pips for forex, indices, and commodities. Unfortunately, specific spread information for other market instruments is not provided.
Trading Platforms
YSHX offers the MetaTrader 5 trading platform for its clients. MT5 is a widely recognized and popular platform known for its user-friendly interface, advanced charting tools, and technical analysis capabilities. It provides access to a broad range of financial instruments, including forex, indices, precious metals, and commodities. MT5 is suitable for both novice and experienced traders due to its intuitive design and extensive features.
Here is a table comparing YSHX to other brokers in this regard:
Customer Support
YSHX offers customer support through email at support@ysysco.com. Clients can reach out to the company's support team via email at any time to seek assistance or address any inquiries or concerns they may have.
Conclusion
YSHX is an unregulated UK-based financial brokerage that offers various financial services, including forex trading, CFD trading, and trading of commodities. The company provides a range of educational resources and tools to assist clients in their trading activities. However, the company is unregulated, which may raise concerns about its transparency and adherence to regulatory standards.
YSHX offers multiple account types with varying leverage ratios and spreads, and the trading platform used is MetaTrader 5. Customer support is available via 24/7 email assistance. The lack of clarity on certain aspects, such as regulation and cryptocurrency trading, may impact the company's reputation and trustworthiness among potential clients.
FAQs
Q: What types of financial services does YSHX offer？
A: YSHX provides various financial services, including forex trading, CFD trading, and trading of commodities.
Q: What is the trading platform used by YSHX？
A: YSHX uses the MetaTrader 5 trading platform.
Q: Are there different account types available for clients？
A: Yes, YSHX offers multiple account types, such as Standard and VIP accounts.
Q: How can clients reach customer support？
A: Customer support is accessible via 24/7 email assistance.
Q: Is there any information available about the regulation of YSHX？
A: YSHX is unregulated.
Q: What are the minimum deposit requirements for the accounts？
A: The minimum deposit for the Standard Account is $500, and for the VIP Account, it is $10,000.
