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YorkCG (Yorkcg.com) is another crude CFDs, Cryptocurrency and Forex scam to hit the lucrative trading world. York CG is claiming to offer a premium trading platform with a wide variety of CFD instruments. With such a strong sales line, most investors have signed up without taking a second look. Members of this platform are already crying foul after having their accounts closed. Read this eye-opening YORKCG Review for more details.
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At first glance, it is easy to see why most investors fell for this lousy platform and website. With an enticing and eye-catching website, it makes it easy to sign up. Scam artists have perfected the art of cloning trading websites to fool unsuspecting investors. From what we have gathered, YorkCG is another cloned website targeting Crypto and Forex investors. To find out some of the tricks used, you need to read this genuine review. Know some of the tricks used by scam artist to steal from online investors.
Thanks to our years of trading experience, we know how to spot a scam from a mile away. YorkCG is using the same bag of tricks used by offshore brokers who steal from European investors. By posting over the moon claims and promises, these scam artists make you want to deposit funds with them. A promise of quick money making is their trademark and once you deposit, they block your account. Members of this platform are crying foul after facing such services from this platform.
Millstor Ltd is the company which claims to be behind this illicit platform. Disclaimer at the footer of the homepage shows the platform is based in St. Vincent and the Grenadines. What this means is that we are dealing with offshore brokers. The problem with offshore brokers is that they are never trustworthy and tend to run off with funds. YorkCG is not the first broker to be facing such complaints from members. Offshore brokers are not to be trusted with your funds at any point in life.
Another problem with this platform is that they are filled with anonymity. Anonymous online trading platforms are a no go zone for investors who value safety. Who are the founding members of this platform? Can we get to know the names of people who are running this platform? These are some of the concerns and issues we have with this platform. Without any knowledge of who owns this platform, users may be depositing funds to an unknown third party.
Scam artists will do or say anything to make sure their platforms appear legit and regulated. YorkCG is no different as they have posted 24628 IBC 2018 as their license number. Scam artists will post random numbers to try and sell the idea that they are fully regulated. A closer look at the official body tasked with regulating platforms reveals shocking details. The Financial Services Authority of St. Vincent and the Grenadines has no platform licensed with this name.
What this means is that these scam artists are using fake registration details to try and feign legitimacy. Why would anyone think of signing up with an offshore broker who uses fake registration credentials? Another problem with this platform is that they fail to show any documents to prove their authenticity. A real trading platform will have copies of their license and registration documents for all to see. By failing to do this, they prove that they don’t have the pedigree to run a safe trading platform.
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We could not find any advantage of trading with a platform which is using fake registry details. Whoever signs up with this platform will be dealing with unregulated brokers and illicit services. Complaints are coming from all parts of the world on how the broker refuses users to withdraw funds. Those who have contacted the broker are pestered with calls urging them to deposit more funds. To stay safe, you need to stay away from any anonymous and unlicensed online investment platform.
Once you visit the homepage, you will notice that the website lacks proper communication channels. You would expect a broker in today’s market to have live support team. With York CG, things seem to be turning differently. A quick look at their contact page reveals the platform only prefers email communication. Users have to send a message regarding the query and wait for a response. Contact page has no phone number listed which is odd for an online investment platform.
Another problem with YorkCG is failure to have a demo account. A demo account is important to traders as it gives them an idea of what to expect with a platform. In this case, users are signing up not knowing what to expect with the platform. After months of trading, Mark now knows the importance of a demo account. He has been trading with their platform not knowing how the tools work. And this is why you should invest time in testing how a platform works with a demo account.
When it comes to account funding, the broker has this area well covered. Depository channels include MasterCard and Visa which happen to be available worldwide. These scam artists have used these two methods to make sure anyone from anywhere can sign up. The biggest problem with YorkCG is refusing to grant users to withdraw funds. Why on earth would a broker refuse to allow withdrawals? Only scam platforms use these tactics to steal from unsuspecting investors.
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Another problem with this website is lack of a proven trading platform. What kind of trading platform are they using, MT4, MT5, or a customized platform? These are some of the reasons why we doubt their platform as it is clear the platform is alien. With such kind of platform, stability is a huge issue. Another problem we noticed with YorkCG is lack of proper security features on their trading platform. Lack of DDoS and SSL Encryption is proof we are dealing with a hoax.
How can funds be safe with a platform whose complaint levels are hitting the roof? Details are still emerging as to the extent in which investors have lost. Some members have had their accounts blocked with over $10,000 in their accounts. These are some of the crazy details we have found out with this platform. Segregation of accounts is also another problem which means YorkCG is pooling funds in one account. Creditors may demand payment from the account making members lose their deposits.
What we have uncovered is a grave platform which is targeting unsuspecting investors. Without a doubt, York CG is a scam which must be exposed by all parties. Make sure to sign up with this platform or else lose your entire deposit. Warn your family and friends from signing up with this illicit platform. Mark all their emails as spam and never click on any links sent by their email marketing team.
We will be adding this platform to our scam blacklist to ensure our readers are safe.
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Wishing you all the best in your trading experience.
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