WikiFX Review: Yunikon FX- Why do you need to pay attention to this broker?

About Yunikon FX

According to the Yunikon FX website, Yunikon FX claimed itself to be one of the most secure and transparent forex brokers in the forex industry. It offers its clients with a couple of financial instruments, including forex, metals, energies, commodities, and CFD. This broker was registered in Saint Vincent and the Grenadines. The physical address is Beachmont Business Centre, 348, Kingstown, Saint Vincent and the Grenadines. Saint Vincent and the Grenadines is an attractive place for financial companies to operate through an offshore company. there is no sharp regulation or overseeing of the company operation implemented. The SVG broker can run its activity and accept forex payments through credit cards but is not overseen.

Regulation: Is Yunikon FX legit？

Yunikon FX is not legit. There is no evidence to prove that Yunikon FX is under any regulation. An unregulated broker is more likely to take your money away fraudulently. Because if something goes wrong, no one can hold them accountable. As the result, WikiFX has given this broker a low score of 1.28/10. WikiFX also marks this broker as “no license”.

Trading Platform

Yunikon FX uses MT4 as its main trading platform. It is available on both PC and mobile.

Leverage

This broker offers leverage of up to 1:1000. Which is considered very high. Please note that high leverage can amplify profits as well as losses. Traders, especially newbies and inexperienced traders, are not advised to invest in this broker.

Funding And Withdrawal

Exposure related to Yunikon FX on WikiFX

On WikiFX, the Exposure consists of feedback from traders. A bad track record of brokers can be checked via Exposure. WikiFXs Exposure function helps you get feedback from other traders and remind you of the risks before it starts.

As of August 22, 2022, WikiFX has received a complaint from Hong Kong.

This trader from Hong Kong told WikiFX that he has applied for withdrawal for over 2 weeks. But he still did not get his money back. The customer service does not help him. In addition, he also sent the email to Yunikon FX but end up with no feedback.

Conclusion

Since WikiFX has given this broker a very low score, we dont think that investing in this broker is a wise decision. Unregulated brokers with low WikiFX scores can easily turn out as a scam. We advise you to do more research and find a better alternative. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP to find the most trusted broker for yourself.

Click on Yunikon FX' WikiFX page for details