Broker Yard Review Scam Complaint
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Broker Yard is an unregulated broker that offers trading in forex and CFDs. The broker is owned and operated by OCapital Ltd which claims to be based in the UK. However, despite the claim of being based in the UK, the broker is not listed in the Financial Services Register of the UK. The broker’s website is full of errors as many of its pages have seen ‘page not found’ error. Below is the full review of the broker to understand things better.
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About the Broker Yard:
Broker Yard is a UK based broker that offers three types of accounts for trading. The accounts that the broker offers are Mini, Classic and Premium. The broker also offers tailored trading account and demo account. Broker Yard offers its trading services on the very popular Meta trade4 platform. The platform is available in the various versions like desktop, mobile and web. This platform has been around in the industry for more than 10 years and is used by thousands of traders across the world. This is all because MT4 platform is stable and reliable and has various functions, API connectivity; it also supports functionality of PAMM and MAMM and has a wide selection of technical analysis and charting tools. Broker Yard provides its clients with a bonus for a limited time offer and only for the one time use. If the client wants to withdraw the money from his balance, client is required to execute a minimum trading volume by standard lot of the bonus divided by ten.
According to the terms and conditions of the broker as mentioned on its site, it accepts deposits only via credit cards and does not allow any deposits from third parties. It is not clear whether the broker accepts deposits via bank transfers or not, as bank transfer is the most standard option provided by the vast majority of brokers.
Is Broker Yard legit or scam?
The Broker Yard is an unregulated broker and despite of being based in the UK it is not authorized from FCA. The lack of authorization from FCA or any other regulation means something is not right with the broker and it is too risky to deal with such unregulated brokers. Broker Yard is a scam broker as it has no license and its website seems incomplete and full of errors. Hence, traders are advised to not invest their money with this broker.