YorkCG Review

Basic info

Website URL: https://yorkcg.com/

Founded: 2018

Regulations: Unregulated

Languages: English, German, Arabic

Deposit Methods: Visa, MasterCard, Bank Wire, Bitcoin

Minimum Deposit: €250

Free Demo Account: No

Types of Assets: Forex pairs, CFDs on Stocks, Metals, Commodities, Indices, and Cryptocurrencies

About YorkCG

YorkCG is a CFD and a Forex broker founded in 2018, with headquarters in St. Vincent and the Grenadines. They are owned and operated by a local company called Milistor Ltd. What this means is that YorkCG is an offshore broker. Despite the bad reputation that comes with that association, many similar traders in the last several years have successfully improved that image. YorkCG is trying to stand out by offering investors an in-house built CFD trading platform that is very beginner-friendly and with leverage that is far superior to that of its closest competitors. Ever since its conception, this brokerage has been known for its no-nonsense approach. In this YorkCG review, we will discuss in detail how they got to where they are today.

Trading Platform

As previously stated, YorkCG is offering its own proprietary web-based trading platform. Some traders might be puzzled as to why there is no MT4 support, but luckily, the in-house build platform is more than capable. Not only is it easy to navigate, but it also performs smoothly. You do not even need to make an account in order to access the platform, so it is suggested you head onto YorkCG and see it for yourself. Compared to the competition, leverage is quite generous. This will, of course, vary based on what account type you are using. As far as the minimal deposit is concerned, is very favorable, starting at only €250. Finally, there is an abundance of assets to trade on. YorkCG’s portfolio consists of currency pairs and CFDs on commodities, indices, stocks, and cryptocurrencies.

Below we have listed all cryptocurrency assets available for trade:

  • Bitcoin (BTC)
  • Litecoin (LTC)
  • Ethereum (ETH)
  • Dash (DASH)

The only notable absence was the Demo account. Many find this feature quite useful as they use it during the first few days in order to familiarize themselves with the platform and to develop some strategies of their own. Executing trades will, as a result, be a more challenging process for new traders. However, all experienced traders will find no fault with this.

Account Types

Like so many others, YorkCG has diversified its offer when it comes to account types. By offering four distinct tiers, it hopes to attract a wide variety of users based on their financial and trading capacities.

  • Self-Manage: The starting point for many. It has a minimum deposit requirement of €250, and leverage goes up to 1:100.
  • Gold: One-tier above is the Gold account that starts at €10,000 for an initial deposit, and maximum leverage of 1:200.
  • Platinum: Platinum account has a minimum deposit requirement of €50,000, and a leverage of up to 1:300.
  • VIP: The highest you can get with YorkCG is a VIP account that is strictly invitational. It stands out with leverage of 1:400.

It is a huge plus that the initial account type offers a low barrier for entrance for new traders looking to make their first investments. This way novice traders can develop their skills and further tune their strategies without having to invest heavily.

On the other hand, professional traders will definitely enjoy the benefits the higher tiers have to offer. High leverage is something that will without a doubt attract many industry veterans.

Safety

One potential downside is that YorkCG doesn’t appear to be a regulated broker. It is owned by a company in St. Vincent and the Grenadines. The government of this country has publicly stated that it does not regulate Forex trading. However, this should not discourage potential traders from trading with YorkCG. This industry has seen many successful brokerages that were not governed by a third party and they have successfully gained trust and reputation with its client base, and this is exactly what YorkCG is striving for.

Deposit and Withdrawal

Making depositions and withdrawals with this brokerage is made very simple and straightforward. YorkCG makes it possible for all its traders to use all standard methods of deposition such as Visa, MasterCard, bank wire, and Bitcoin. At the moment of writing, there was no indication of when e-wallet services would become available. So, traders hoping to use Skrill or Neteller need to opt-out for the standard methods instead.

The same goes for withdrawal as well. Withdrawal requests are normally processed in 1 to 2 days. How long the entire process takes depends mostly on the methods your banks use.

Support

Customer support needs to be commended. YorkCG ranks well in this category. Online chat Is available for all traders. In addition, there is a phone /email support 5 days a week. If you are facing an issue outside of working hours, there is a FAQ on their web site. Perhaps even more helpful would be the robot support that is programmed to address most of the frequently asked questions. Finally, there are several useful videos that could assist in a pinch.

Education

YorkCG is definitely ahead of the competition when it comes to this. Educational tools are very informative and easy to comprehend. For beginners, there are many videos than go into detail on many trading concepts. Covered topics include trend analysis, pending orders, risk management, resistance trading, and many more. There is a separate page related to forex trading including a glossary with key terms explained in detail.

When it comes to more intermediate and advanced users, there are webinars that are held several times a month.  eBooks are there to cover more advanced trading techniques, and they are available to all registered users. Of course, the higher your account tier, the more quality material you are allowed to download.

Conclusion

There is a lot to love when it comes to YorkCG and what they can offer to their traders. This offshore broker offers highly competitive conditions for forex trading. Despite not offering some of the industry standards, such as MT4, YorkCG has made up for it thanks to its own platform that offers a smooth trading experience. The only concert that any trader might have is its looser regulation.

Here are the highlights of our YorkCG review:

Pros:
  • Wide range of assets
  • Great leverage
  • Excellent educational tools
  • Easy to use platform
Cons:
  • No financial regulation
  • No MetaTrader

Still, it is very positive to see how a new broker managed to develop such trust with its clientele is so little time. There is doubt that despite some small inconveniences, YorkCG will become one of the industry leaders very soon. In this case, we firmly believe that positives far exceed the negatives, and we can make YorkCG a strong recommendation.