Yobstock Review – The Loopholes in its Story

Yobstock Review

With the advent of the internet, many industries have undergone massive change and this is no different for the trading world. These days, you do not need to go anywhere to begin your trading journey in the financial markets because the internet has brought them to your home.

But, if there is one ingredient that has remained essential to the process is the need of a broker. You still need their services to access the markets and plenty of them can be found online. But, this Yobstock review will tell you that not all of them are the same.

It is true that the one-size-fits-all approach cannot be followed when you go brokerage hunting. Your goals and expectations will be different from the next trader, so you have to take that into account.

However, you also need to remember that the internet is also known for scams and brokerage scams have become quite rampant. After all, these are highly lucrative due to which they have attracted a lot of criminal attention as well.

Despite knowing of their existence, many people still end up getting defrauded. This is due to the fact that these scammers know how to sell themselves.

But, this does not mean that they can completely hide their reality. There will always be loopholes in their story and you need to make some effort to find them and keep yourself safe. This means that you do not just take the word of a company when it makes tall promises, or presents an attractive website.

Take everything with a grain of salt and always do your research before you come to a final decision. One of the names you will find in your search is Yobstock that claims to offer you transparent, secure and lightning fast trading services. But, you have to check their story thoroughly and when you do, you can find all the loopholes. Let’s check them out here.

Signs of a serial scam

When you begin looking into Yobstock, you will immediately discover that things are not what they appear to be. It seems that the brokerage is part of a serial scam i.e. one group of scammers running multiple fraudulent websites to find as many victims as they can.

How do you find proof of it? If you check out the platform offered at Yobstock, you will discover that it is branded with name of a different brokerage named Margex.

If you check out this brokerage, you will discover that it has already been exposed as a scam because the Spanish regulatory authority, CNMV, had issued a warning against it.

This means that if Yobstock is associated with a scam broker, then it is likely a scam itself. Use of multiple domains is common for luring in more victims and also for switching from one to the other when the current scam website gets exposed.

No credibility

The fact that Yobstock shows signs of a serial scam is already a giant loophole that you will uncover, but there are plenty more for you to find. You need to get to know a company before you decide to trust them and this means ensuring that they are authorized to offer their services.

Online brokers also have to obtain a license to operate in different regions and you need to check that the one you are considering is properly regulated.

This is because these brokers can offer you peace of mind and safety that you cannot find with unregulated brokerages. Plus, most scam brokers are unlicensed and unregulated, so this gives you more reasons to opt for their licensed counterparts. The regulation will depend on where the broker is based and this is where Yobstock stumbles.

When you go through the Yobstock website, you will discover that it is actually a virtually anonymous broker because there is a lot of information missing. There is no corporate background or an address given and they have not made any mention of regulation. When you go through their Terms and Conditions, you will come across a vague reference to St. Vincent and the Grenadines.

But, this does not help with Yobstock’s credibility because St. Vincent and the Grenadines is an offshore jurisdiction and they do not regulate the forex industry. Therefore, it is often referred to as a scam broker haven.

No trading platform

The key feature that you need for trading in the financial markets online is a trading platform and it is the job of the broker you choose to provide you with one. It is understood that every trader would want the best platform in the market in order to enjoy a hassle-free and profitable trading experience and Yobstock promises a powerful and highly functional trading platform.

Hence, the fact that there is no trading platform available at Yobstock at all is a giant loophole in its story. When you try to access their trading platform, all you find is a dashboard that boasts a chart from Trading View, which you can find online for free as well.

Why would you sign up with Yobstock to access the chart? The only option that the dashboard offers is to make a deposit and nothing more, making it obvious that the brokerage is just after your money.

The trading conditions that Yobstock offers are also worrisome, given that leverage as high as 1:100 is available when such ratios are banned in most jurisdictions.

Only crypto deposits

Last, but certainly not the least, another major loophole that helps you learn the real story is that Yobstock only offers crypto deposits. You can use cryptocurrencies like bitcoin and ethereum to make your deposits and this is no surprise because this method is a favorite of fraudsters.

After all, they can rest assured that you cannot file for a chargeback as crypto payments are final, which means your money will be gone.

Bottom line

The loopholes that you find in the story that Yobstock tries to tell show that you are not dealing with a genuine broker.