Score
Yoo Trade
United Arab Emirates|Within 1 year| https://www.yootrade.app/
Website
Rating Index
Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
Contact number
+971 542288006
Other ways of contact
Broker Information
More
Tag Markets Ltd
Yoo Trade
United Arab Emirates
Pyramid scheme complaint
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- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | 10000$ |
| Minimum Spread | From 0.2 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | 3000$ |
| Minimum Spread | From 0.2 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | 20000$ |
| Minimum Spread | From 0.2 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | 1000$ |
| Minimum Spread | From 0.2 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | 50$ |
| Minimum Spread | From 0.2 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
- Transaction Risk
- Underlying Risk
Capital
$(USD)
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Yoo Trade · Company Summary
Yoo Trade Information
Yoo Trade, short for Tag Markets Ltd, is an unregulated brokerage company registered in June, 2024 iand operates in UAE, St. Vincent and the Grenadines and Saint Lucia. The broker provides access to a diverse array of financial instruments such as CFDs, Forex, Indices, Commodities, Metals, and more. There are 5 tiered live accounts with a minimum deposit of $50 for clients to choose. Its proprietary trading platform can be accessible on multiple devices and features an automatic trading bot. Moreover, the broker does not charge commissions for trading, significantly reduces trading costs for traders. The segregation of funds protects client funds even if the company goes bankruptcy.
Pros and Cons
| Pros | Cons |
| 24/7 customer support | Lack of regulation |
| Tiered accounts | Quite new in the market |
| Affordable minimum deposit | Do not service clients from several regions |
| No commission | |
| Fund segregation |
Is Yoo Trade Legit?
The broker operates without any valid supervision from any regulatory authorities. It raises a question about its legitimacy and credibility because regulated brokers usually adhere to strict industry standards to protect customer funds.
What Can I Trade on Yoo Trade?
YooTrade provides access to a diverse array of financial instruments such as CFDs, Forex, Indices, Commodities, Metals, and more. You can expand your trading portfolio and seize abundant market opportunities to possibly achieve substantial returns on your investments.
CFDs (Contracts for Difference): CFDs are financial derivatives that allow traders to speculate on price movements of various assets without owning the underlying asset itself.
Forex (Foreign Exchange): Forex is the global marketplace for trading national currencies against one another, making it the largest financial market in the world. Popular pairs are EURUSD, CADUSD, USDJPY, etc.
Indices: Indices represent a group of stocks or other securities, providing a benchmark for market performance and allowing investors to track overall market trends.
Commodities: Commodities are basic goods used in commerce that are interchangeable with other goods of the same type, including physical assets like oil, gold, and agricultural products.
Always follow the rule of investment and scatter risks by putting money in different products instead of only one that you are optimistic about.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ❌ |
| Shares | ❌ |
| ETFs | ❌ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Account Type (Minimum Deposit/Leverage/Spread & Commission)
Yoo Trade does not offer demo accounts for testing and practicing, which is a drawback. But there are 5 tiered live accounts designed for the needs of different customer groups with varying experience levels and financial capacities.
The CLASSIC Account requires a minimum deposit of $50, affordable for beginners and those with limited initial capital. The maximum investment in this account is $1,000. If you want to go further, you can choose the GOLD account, which requires an entry level of $1,000, upper limit is $3000.
Similarly, if you have more capital and expect higher returns while accepting the same level of risks, you can choose the PLATINUM account, with investment range from $3,000-10,000.
There are no upper limits of deposit for ELITE and RAW accounts, but their minimum deposit requirement are $10,000 and $20,000 respectively. Those high-net-worth traders should choose the one based on their trading expectations and strategies.
Spread is from 0.2 pips, with leverage levels up to 1:500 across all account types. But it's always recommended for you to use leverage prudently to avoid tremendous losses.
One of its competitive advantage is the commission-free structure, which significantly reduces trading costs for traders.
Moreover, Yoo Trade's PAMM (Percentage Allocation Management Module) and MAM (Multi-Account Manager) systems allows traders to manage multiple client accounts efficiently.
Besides that, the broker offers a 100% deposit bonus which traders can receive once they completed the necessary trading volume.
| Account Type | Min Deposit | Max Deposit | Leverage | Min Lot Size | Spreads | Commissions |
| CLASSIC | $50 | $1,000 | 1:500 | 0.01 | From 0.2 pips | ❌ |
| GOLD | $1,000 | $3,000 | ||||
| PLATINUM | $3,000 | $10,000 | ||||
| ELITE | $10,000 | Above | ||||
| RAW | $20,000 | Above |
Trading Platform
Yoo Trade offers a proprietary trading platform available through web, Windows and mobile devices.
The platform features algorithmic trading on behalf of clients by an in-built trading bot with 50 ready-to-use indicators for technical analysis and basic tools for graphic analysis.
Deposit & Withdrawal
Per its website, the broker accepts payment by several channels: bank transfers, credit/debit cards, and e-wallets.
Customer Support Options
If you want any help or support from Yoo Trade, you can reach them through phone, email, social platforms or visit them in person in their offices in Dubai, St. Vincent and the Grenadines and Saint Lucia.
In addition, a contact form is also available on its website. You can fill in your contact info on its website and wait for their representatives to call you or email you.
Their customer support is available 24 hours a day, 7 days a week.
| Contact Options | Details |
| Phone | +971542288006 |
| support@yootrade.app; info@yootrade.app | |
| Support Ticket System | ✔ |
| Online Chat | ❌ |
| Social Media | Facebook, Instagram, Twitter, YouTube, WhatApp |
| Supported Language | English |
| Website Language | English |
| Physical Address | Office 412, Sony Building, Al Raffa, Bur Dubai, UAE |
| Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines | |
| Saint Lucia Ground Floor, The Sotheby Building, Rodney Vilage, Rodney Bay, Gros-Islet, Saint Lucia |
The Bottom Line
In summary, though the brokers offers tiered accounts with affordable minimum deposit from $50 and 24/7 customer support. The commission-free structure reduces trading costs substantially, especially for high-volume traders. However, the operation without regulation and insufficient industry experience impair its credibility and reliability.
Therefore, make full investigation and weigh all the pros and cons is recommended before choosing this broker.
FAQs
Is Yoo Trade safe?
No, the broker is not regulated by any authorities so far, which implies less protection on customers.
Is Yoo Trade good for beginners?
No, though the minimum investment is affordable to most traders at $50 in the Classic account and the implementation of fund segregation also protects fund safety, the lack of regulation and new hands in the market make it a less suitable choice for beginners.
What trading platform does Yoo Trade have?
Yoo Trade offers a proprietary trading platform available on PC, web and mobile devices.
Are there any restricted areas of Yoo Trade's services?
Yes, Tag Markets Ltd refrains from offering services to residents of Syria, North Korea, Iran, Iraq, Mauritius, USA, Canada, Sudan, Myanmar, Yemen, Afghanistan, Vanuatu, and EEA countries.
Risk Warning
Online trading involves considerable risk, so it may not be suitable for every client. Please make sure that you totally understand the risks involved and notice that the information above provided in this review may be subject to alteration owing to the constant updating of the company's services and policies.
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