Score

1.52 /10
Danger

YORK FINANCE

Hong Kong

Scam Brokers

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

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Comparison

Quantity 6

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index7.08

Risk Management Index0.00

Software Index4.00

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Regulatory disclosure

Broker Information

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Company Name

YORK BUSINESS ASSOCIATES LIMITED

Company Abbreviation

YORK FINANCE

Platform registered country and region

Hong Kong

Company website

Pyramid scheme complaint

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It has been disclosed by the regulator, please be aware of the risks! 5
Previous Detection : 2024-12-23
  • It has been verified that this broker has been disclosed by National Futures Association. Please be aware of risks!
  • This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!

WikiFX Verification

Pyramid scheme complaint
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Scam

YORK FINANCE scam

My account became forced liquidation overnight!! Scam!!! Ponzi Scheme!!!

2020-03-18 05:08
Scam

Forced liquidation overnight! The scam amount is up to more than 2 billion!

The gang of Hou Huazhen, Meng Xianghong, Li Zhen from Tianjing and Tao Ran from BJ made this project on last October 1st. They claimed that they had acquired the old American broker, YORK FINANCE, www.yorkal.com, and recruited 50,000 US stock members and 100,000 Japanese stock members in the country to conduct CFD transactions, to make it listed on NASDAQ. It invited clients spans across the globe to join with deposit fee $3000. As of February 25th, over 50 thousand victims have joined. Actually, over 150 million dollars was scammed, among which 0.3 billion dollars was on Japanese share. It has hoarded at least 2 billion dollars on this 2 projects, with victims up to 100 thousand. The company has given no access to withdrawal since March 9th. On the night of 15th, it suddenly opened American share, claiming that a portion have withdrawn from Japanese share. Batches of members crashed to register by depositing $3000. Since 16th, we could only deposit fund not withdraw due to unstable system. The gang of fraudster continued to inveigle us to but American share and Japanese share! On 17th, boasting the promising future and the multi-benefit on CFD contract, the company induced us to open accounts on MT5. But at 1:00 in the early morning, all clients’ accounts became forced liquidation gradually. The company didn’t take any preparation! On 18th, Hou apologized through video, blaming it on unstable CRM system and committing to recover losses for us! But there are frequent forced liquidation and losses since then. In addition, nobody could withdraw fund successfully, even $90 or so would be withheld! Actually, the amounts on MT5 are fake! The gang of Li Zhen and Tao Ran has ripped nearly 4000 victims off, with scamming amount reaching to 10000 thousand dollars(70000 RMB) in total.

2020-03-27 17:26

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