YunikonFX

yunikonfx
$50

Min Deposit

N/A

Regulation

0.8 Pips

Min Spread

1:1000

Max Leve.

2/10

Broker Trust

Table of Contents

Introduction

YunikonFX is an online Forex broker with a questionable reputation. Selecting the right broker is essential for success in the trading world. Therefore broker reviews such as this one can be an eye-opener. In the Yunikon FX review, we dissect the broker by its features and identify whether it is fake or reliable. A quick overview of the broker is below:

FOUNDED IN Not Specified
HEADQUARTERS Saint Vincent and the Grenadines
REGULATORS Not Regulated
MINIMUM DEPOSIT $50
PLATFORMS OFFERED MT4
TRADING INSTRUMENTS Forex, Commodities, CFDs, Cryptocurrency
ACCOUNT CURRENCY USD
MAXIMUM LEVERAGE Up to 1:1000
CUSTOMER SUPPORT 24/5
DEPOSIT OPTIONS Not Mentioned
COMMISSION $0 for Other Accounts, $7 for RCG ECN Account
SPREADS 0.8 Pips
MOBILE TRADING No
AFFILIATE PROGRAMME No
CONTESTS AND BONUSES Yes

What is YunikonFX?

Yunikonfx is a scam broker headquartered in Saint Vincent and the Grenadines, founded 2-5 years ago. The platform offers trading with several assets, including Forex, Metals, Energies, Commodities and CFDs. Traders can access this broker on the MT4 platform, an easy-to-use and user-friendly interface. The broker offers competitive spreads, quick execution and secure trading through features like negative balance protection.

YunikonFX Homepage

Is YunikonFX a Scam?

Yunikonfx scam broker is unsafe to use because of its uncertain regulatory status and suspicious broker website that lacks transparency. There are many testimonies to prove that the broker is unreliable in trading, the first being its unclear regulation. We have no information on Yunikov’s regulation on the broker or other websites.

Moreover, the website is staked with lengthy and useless information without specificity. This can be a mere tactic to attract visitors with fancy claims. Let’s look at some of the claims made by the broker platform.

Why is Yunikon FX a Scam Broker?

As mentioned above, the broker platform lacks financial regulation and website transparency. Moreover, the broker was subjected to scam complaints, resulting in the broker’s temporary shutdown. In May 2023, the platform faced backlash regarding delayed withdrawal and a lack of customer support services. After multiple complaints, the broker went on a temporary hiatus. The customers who tried to log in to the broker platform saw a sign that read, “Sorry for the inconvenience. We’re performing some maintenance at the moment, we’ll be back up shortly” the broker customer support team.

However, despite the website being under construction, the registration site for new users remained open, raising concerns over Yunikon FX’s integrity. Moreover, trusted broker review websites like Trustpilot show people’s dissatisfaction with the broker’s services today.

Yunikon FX Auto Trading

Auto trading in forex is when the system automatically places the buy and sell orders when the trade conditions are met, allowing traders to reduce risks and gain maximum profits. Yunikon FX claims to be one of the online trading brokers with an auto trading feature.

Leverage, Spreads and Commission

Yunikon fx offers a high leverage of 1:1000 for both self and auto trading, along with a tight and competitive spread starting as low as 0.8 pips. Yunikov does not require commissions and offers an execution speed of 0.1 seconds.

YunikonFx Deposit and Withdrawals

The Yunikon FX minimum deposit starts at $20 with no limit on the maximum deposit. Moreover, there are no limits set by the broker on the withdrawal amount; the withdrawal will take 72 hours to reflect in your account.

Transaction Options

Yunikon FX offers many transaction options, including the following:

  • Local bank transfer
  • Skrill
  • Neteller
  • Fasapay
  • Visa and Mastercard

 

Account Types Offered by Yunikon FX

All of Yunikon’s account types are divided into five different categories, which are as follows:

Account Types Standard Account Prime Account ECN Account Pro Cent
Leverage 1:500 1:300 1:100 1:1000
Spreads Variable Variable Variable Fixed
Minimum Deposit Varies Depending on the Currency Varies Depending on the Currency Varies Depending on the Currency Varies Depending on the Currency
Currency USD USD USD USD
Commission 0 0 $35 per trade 0
Scalping Available Available Available Available
Demo Account Available Available Available Available
Copy Trading Yes Yes Yes Yes
Minimum Lot Size Per Trade 0.01 0.01 0.01 0.01
  • Live Standard Account: This account type is meant for currency, commodities and metals trading as it offers flexible leverage from 1:20 to 1:500.
  • Live Prime Account: This trading account offers a wide range of assets in metals, CFD and stocks, with leverage of 1:300.
  • Live ECN Account
  • Demo Standard Account
  • Pro Cent (Auto Trade) Account

 

Yunikon FX Islamic Account

The broker offers a wide range of trading accounts, including cent and demo accounts, but they are SWAP-free and Islamic accounts by default. So, Muslim traders can use Yunikon Fx as a forex broker, which means the Yunikonfx is not haram in the community.

Yunikon FX Trading Platform

Yunikov provides the MT4 trading platform with zero requotes, rejections and flexible leverage. MT4 is a renowned trading platform with 1000 plus instruments, easy login access, tight spread, one-click trading, auto trading and much more. However, the broker only offers one trading platform; you can explore other platforms through Metherworld broker.

Does YunikonFX have a Mobile App?

Yes, the Yunikon app is available for both iOS and Android devices. YunikonFX download can be done directly on iOS and Android devices through the website or Apple and Google Play stores.

Assets and Features Offered by Yunikon FX

The broker claims to offer trading with CFDs, commodities, indices, metals, energies and forex while promising to add more assets in the future. There are mentions of luxury rewards, educational resources, free-market signals & trends, etc., but no proof or details on these so-called “claims”.

The broker vaguely describes its association with the world’s best liquidity service providers. Still, the provider’s name is not mentioned anywhere on the website. The broker also claims to offer educational resources but is nowhere to be found on the website.

Overall, the broker is an unregulated and scam broker claiming features without detail or evidence.  Avoid brokers with unclear information and opt for a broker with proper regulation and website transparency, such as RCG Markets.

Yunikon Registration Details

YunikonFX Login

Before logging into the YUnikonFX account, you must create an account. To do that, follow the steps below:

Step 1

Go to the broker sign-up page, which should look something like this:

Step 2

Enter the relevant details, including personal information like name, company, email address, etc. Select the time zone as per your area or preference, then create a secure password for your account.

Step 3

Click enter after submitting the details, then the broker will ask you to confirm your details. However, when we registered with the broker, the platform showed dummy personal details despite entering personal details, which raised suspicion.

YunikonFX Member Login

If you already have a Yunikon account, simply go to the website and follow the steps below:

  • Locate the Yunikonfx login member button and use your credentials to log into your active trading account.
  • Go to deposit funds and make your deposit.
  • When your deposit is successful, you will be directed to your account dashboard, which you can customise as per your needs.
  • Start trading!

Note that if you are opening a demo account, you can start trading without depositing, as the broker offers free access to demo accounts.

YunikonFX App

Yunikon Fx offers a mobile app for Android and iOS users. You can download the app YunikonFX through the broker website or search the broker app on Google Play Store or Apple Store.

Yunikon FX Affiliate

YunikonFX introduces a “self-trade affiliate bonus” wherein traders within their network, spanning up to six generations, can receive affiliate bonuses. Regrettably, the details of this program, including the method to obtain the bonus, are not disclosed.

YunikonFX Customer Service

YunikonFX customer support is available through email and live chat services. However, the live chat is unavailable 24/7. We couldn’t contact the broker’s customer support agents as they were unavailable.

If you wish to reach out to the broker’s customer support team, then here are the sources you can do that through

Email: [email protected]

Address: Beachmont Business Centre,

348, Kingstown, Saint Vincent and the Grenadines

You can also send your queries through the broker’s website.

Pros and Cons of Trading with Yunikon FX

Pros Cons
Low Minimum Deposit Legitimacy Issue
High Leverage and Tight Spreads Unclear Financial Regulation
Fast Order Execution Speed Platforms Like MT5 is Not Available
Auto Trading Available
Wide Range of Assets and Payment Options

Conclusion

After conducting a comprehensive Yunikonfx review, we have found the broker unreliable and illegitimate. The website offers several perks, but customer reviews and broker review websites say otherwise. Users facing delays and withdrawals and a lack of customer services show that the Yunikon FX broker is a scam.

FAQs

How do I Register for YunikonFX?

The registration process for Yunikon FX is simple and convenient.

Follow the steps given below to register with Yunikon FX:

  1. Go to the YunikonFX.com website and click on ‘Open an account.’
  2. Enter relevant details like your Name, Email ID, Address, etc.
  3. Verify the details and submit important documents.
  4. Add funds to your account and start trading!

What is Auto Trading?

Auto trading is trading using a robot or AI where the buy and sell orders are automatically placed based on the input added by the user. Yunikonfx robot trading is the broker’s stand-out feature.

Is YunikonFX Legit?

The broker has several legitimacy concerns because it lacks clear regulations and transparency on the website. Moreover, the customer reviews on the broker have not been satisfactory either.

What’s the Process for Yunikonfx Withdrawals?

To make a withdrawal from Yunikon fx, log into your Yunikonfx account and click on withdraw. After clicking, a withdrawal form will open where you must click the “new withdrawal request” button. Now, choose the mode of payment or transaction, and the amount will be processed.

Is Yunikonfx Legal in Malaysia?

Yunikonfx is illegal in Malaysia and has been added to the scam alert list by the Central Bank of Malaysia. This establishes the Yunikonfx scammer broker or Yunikonfx Penipu as unreliable and fraudulent.

Is Yunikonfx Haram in Indonesia?

Yes, Yunikonfx haram in Indonesia. For Muslims, forex trading is considered haram unless the broker abides by Islamic laws. Although YunikonfX has swap-free Islamic accounts, it is not available in Indonesia, meaning Muslim traders in the country can not trade with YunikonFX

Is there a YunikonFX Affiliate Program?

No, there are no affiliate YunikonFX programs for traders.

How Can YunikonFX Member Login?

YunikonFX members can log in to the broker by having a secure internet connection, finding a reliable forex broker, opening and adding funds to the account and that’s it!

How to Install YunikonFX MT4?

To Install YunikonFX MT4 follow the given steps:

  • Download the link through an exe. file
  • After the download is complete sun the yunikonfinancial4setup.exe
  • After you run the program, you’ll find a login window
  • Now, enter your login credentials and start trading.

How to Uninstall YunikonFX PC MT4?

Step 1: Go to Start, select the all programs button and click YunikonFX MT4 uninstall
Step 2: Complete the uninstallation process by following the given instructions
Step 3: Go to your and delete the folder
Step 4: Now, restart the computer after the uninstallation is complete.

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