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Ask Investor To Pay a 10% Fee! Unlicensed FX Broker YUM Group is A Scam

2022-05-17 Brokersview

Recently, BrokersView learned that YUM Group is a fraudulent broker. The company founded in February this year. It pretends to be a liable forex broker by claiming its NFA regulation, but actually it has no license. Moreover, we also received bad reviews from its clients.  


Company founded nearly 3 months

On its page footer, YUM Group says Copyright © 2019, but its domain(https://www.yum-forex.com/) check result shows that it is first created on February 1, 2022. Thus, the company is using a false company foundation year.


An unlicensed UK-based forex broker

Founded in the UK, YUM Group shows it is a leading independent broker in the trading of foreign exchange. To be able to offer forex trading service in the UK, the broker must get at least one license from the FCA. However, it lists no FCA regulation info and we also find no license record on the FCA Registry. That is to say, YUM Group is unlicensed currently. 

 

Claims to be regulated by NFA

On its “ABOUT US”, YUM introduces that it is regulated by the American Futures Association (NFA) with regulatory number 0545142. 

However, the company is actually not regulated by the NFA since it is not an NFA Member. That means it is not authorized to offer forex services.

 

Bad reviews

We have received bad reviews about the YUM Group from its client. The investor has requested YUM Group to return his deposits many times but was asked to pay a 10% fee in order to transfer to YUM Group server and its MT4.

 

Based on the above information, we can conclude that Yum Group is a scam.

Contact us at service@brokersview.com if you have any troubles with your broker.

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