BrokerYard Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this BrokerYard Review.
BrokerYard Review
BrokerYard offers three types of accounts: Mini, Classic and Premium. There is also the Tailored trading account, plus a demo account. The link to opening a demo account, however, leads to a blank page, saying “Page not found”.
The broker’s instrument list includes forex pairs, CFDs on indices, stocks and commodities.
The Company. Security of Funds
BrokerYard is an unregulated broker that claims to be based in the UK. According to its site, it is owned by a OCapital, a company that is not listed in the Financial Services Register of the UK. According to the country’s Companies House registry, OCapital is based in Edinburgh and was registered on April 1, 2016. Its status is active.
The lack of FCA or any other regulation, however, means that even though BrokerYard may be a UK forex broker, dealing with it is almost as risky as dealing with the average offshore unregulated broker.
Trading platforms
BrokerYard offers trading with the ever popular MetaTrader 4 (MT4) platform and all its versions – desktop, web and mobile.
MT4 has been around for over 10 years and is used by hundreds of brokers and thousands of traders across the world. The platform t is stable and reliable, has many functions, offers API connectivity, supports PAMM and MAMM functionality and has a wide selection of technical analysis and charting tools. It is also user-friendly and supports Expert Advisors and automated trading.
Most likely its popularity will eventually wane, after its developer MetaQuotes recently announced it is stopping the support and development of MT4 in favor of its successor MetaTrader 5.
Promotions
BrokerYard gives to its clients a bonus as a limited time offer and for one time use only. In order to withdraw their money from the balance, clients are required to execute a minimum trading volume by standard lot of the bonus divided by ten. (bonus/10= lots requirement volume).
Methods of payment
According to the terms and conditions section on the broker’s site, it accepts deposits via credit cards and does not allow deposits from third parties. It does not become clear whether the broker accepts deposits via bank transfers, which is the most standard option provided by the vast majority of brokers.
BrokerYard is an unregulated broker that does not stand out with anything. Its leverage and minimum deposit are average, so perhaps it is a better idea to find another forex broker, and regulated at that, to become a client of.
The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
BrokerYard Review Conclusion
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