It is worth exploring the Yuminex review if you want to learn how a blatant scam project disguising itself as a CFD broker operates. You should not pay attention to its promises of attractive trading conditions; in the end, all you will achieve here is losing money. Within just 10 minutes, we gathered enough evidence to confirm this is a fraudulent project — enough evidence to expose a dozen similar platforms. Below are the main findings.
Key Features
- Company Name: Yuminex
- Website: https://yuminex.io/
- Available Contacts: Not specified
- Foundation: 2024
- Services: Forex/CFD trading
- License: None
- Initial Deposit: Not specified
From Sign-Up to Payout
When browsing the official Yuminex website, one gets the impression that the developers have a vague idea of what traders want but no clue how to fill out the site’s sections. The website’s functionality, along with that of the personal account area, is far from ideal. Here are a few examples:
- We haven’t seen such a “minimalistic” contact page in ages. Essentially, it features only a feedback form. Can we seriously consider the so-called “Nationwide English Service Center” phone number, composed entirely of zeros, to be valid? Other contact details, such as an email address, office location, or links to social media accounts, are entirely missing. In our opinion, this doesn’t resemble a legitimate broker.
- The company boasts about its impressive web trader and mobile applications based on it. However, you cannot download any of these applications — either they forgot to include the links or didn’t develop the apps at all.
- The “Market News and Events” page relies solely on an economic calendar widget for content. There is no sign of a news feed or analytical overviews of major events.
- The educational materials, praised on the homepage, amount to a brief guide on starting to trade and a few vague statements on other topics.
- Finally, even after registering an account, you cannot deposit funds. Yes, the system asks for your account number and deposit amount, but the transaction page remains blank.
A closer look at the website pages and personal account features reveals even more surprises. For instance, the partnership program strangely encourages you to invite friends not to work with the broker itself but to trade on the BitPEX cryptocurrency exchange. However, we’ll leave the pleasure of uncovering more oddities to you.
Overall, our impression of the Yuminex website is highly negative. The developers failed to create anything resembling the information resource of a legitimate Forex broker. It is glaringly obvious that this is another scam project that should be avoided.
Our Trading Experience With Yuminex
The broker spares no effort in praising its trading platform, both in its web and mobile versions. At first glance, the web platform appears reasonably functional and even supports up to four synchronized price charts.
However, a closer examination of the platform reveals numerous flaws:
- The screen layout organization is less than ideal. There are almost no options to adjust the sizes of different areas, and the account overview section on the right interferes with trading. Customizing the interface to your preferences is impossible.
- The market overview is unimpressive: opening a new symbol in any window takes 10 to 40 seconds. What might happen in such a timeframe on a volatile market?
- One-click trading is not implemented, leading to delays in opening or closing positions and, consequently, potential losses.
- We made every effort to activate the “Drawing Tools” panel, which should contain graphical objects, but we were unsuccessful. Traders will have to do without trend lines and channels.
- Like most web platforms, this one does not support custom indicators or trading robots.
In short, while it is technically possible to trade on this platform, don’t expect any comfort or efficiency. Why doesn’t the broker invest in more reputable software like MetaTrader or cTrader?
As for the trading conditions — or rather, the lack of transparency regarding them — Yuminex fares even worse. The “Instruments” page offers only extremely brief descriptions of the available markets, with no contract specifications provided.
On the account types page, you’ll find nothing but account names:
- A-Future.
- B-Grow.
- E-Pro.
The only options listed for all accounts are access to web and mobile trading platforms, free account management, and 24/5 support. The broker provides no information about minimum deposit or trade parameters.
Once again, we see the traditional scammer approach. Traders will be forced to figure out trade parameters and costs during actual trading (since Yuminex does not offer demo accounts), losing money in the process. Scammers are perfectly content with this setup.
The Reality Check
There’s no doubt that most traders will avoid a broker that refuses to disclose its trading conditions. However, scammers rely on beginners who cannot make informed decisions and are lured by promises of easy and quick profits. For them, here are the most compelling arguments against working with this company:
The firm conveniently “forgot” to disclose its registration and licensing details. However, an examination of its documents — primarily the Terms & Conditions — reveals that the company operates under Estonian law. This is the closest indication we have of Yuminex’s jurisdiction.
However, a search in the Estonian business registry for the company’s name yielded no results. Just to be thorough, we also checked the registries of other European countries, but with the same outcome.
Thus, the broker is not registered anywhere, operates exclusively online, and is represented solely by its website. The lack of a legal entity limits its ability to:
- Obtain a license.
- Sign agreements with liquidity providers and quote suppliers.
- Open corporate bank accounts and cards or accept payments in the company’s name.
In practice, this means that Yuminex operates outside the legal framework (providing services unlawfully) and cannot properly organize trading. Everything traders see on the platform is merely a simulation.
How Long Has Yuminex Been in the Game?
The broker is more generous when it comes to sharing details about its own history. At the very least, it claims to have been established in 2009 as a local financial service primarily dealing with cryptocurrency. As its client base grew, Yuminex allegedly expanded both its geographic coverage and its range of trading instruments.
However, this narrative doesn’t hold up to even basic scrutiny. For instance, the WHOIS service indicates that the domain yuminex.io was registered on August 5, 2024. Apparently, the company waited 15 years from its supposed founding in 2009 to create a website and begin offering online brokerage services. This sounds utterly absurd.
The only rational explanation for this is that the broker was actually created and began operations in August 2024. All claims about its long-standing history are false and designed to mislead potential clients. This means that trusting this fraudulent company is out of the question, let alone entrusting it with your money.
Interesting fact! The yuminex.io domain is not the only one used by the broker. It also owns the domain yharbor.io, which redirects visitors to the primary working domain. However, this secondary domain was created even later than the main one. This raises a logical question: why does the company need a second domain name, especially one so dissimilar? Could it be that this fraudulent company is preparing for a large-scale scam followed by a “move” to a new domain?
Extra Fraud Indicators
The broker has been online for five months and has likely already managed to collect some Yuminex reviews. Indeed, we found four posts about the company on Trustpilot, all rated 4 or 5 stars. While few in number, all four reviews are clearly fake. The authors lavishly praise the company’s support, trading platform, and webinars (which is particularly amusing given that no webinars are held on the platform).
There are also a couple of websites whose administrators have clearly been paid to publish articles about the company. These articles also express positive opinions about Yuminex, which bear no resemblance to reality.
More objective publications can also be found online. They are posted on trading-related websites, where experts discuss numerous issues with the broker and label it a scam. These assessments are well-founded, with most of the evidence already mentioned above. Unsurprisingly, we fully agree with them.
Is Yuminex the Right Fit?
The obvious conclusion from our Yuminex review is: never send money to an account opened on this platform. A broker that lacks registration and a license, publishes false information, and hides critical details cannot be trusted under any circumstances.
What are these scammers from Yuminex up to, you might ask? After a technical glitch on this platform, not a single cent was left in my account. These fraudsters refuse to take responsibility or compensate for the damages caused. I won’t let these bastards keep my money – I’m going to report them to law enforcement and fight for justice.
How can I withdraw my funds from this platform if the scammers haven’t processed my request for three weeks? It’s impossible to reach them; their single email never responds. I regret not checking the legal documents and real client reviews earlier… I could have avoided financial fraud. But what’s done is done. I’ve already contacted a chargeback service and hope for professional legal assistance.
The scammers at Yuminex knew I was opening large positions because I don’t bother with risk management. They figured this out when I first started trading and immediately pounced. They persuaded me to deposit a significant amount ($15,000) to make a good profit on a single trade. In the end, I fell for it and opened a position on the manager’s advice. However, it immediately went into the red, and within a couple of hours, my massive deposit had dwindled to just 15%. Of course, I closed the trade, but now I don’t know what to do. I don’t believe I can recover everything. Unsurprisingly, the personal account manager disappeared after that. Looks like they scammed me deliberately.