Cloxyields is an unregulated brokerage firm based in the US. A supposed address in Wyoming and a phone number are given. Cloxyields makes a statement about having offices in various countries.
This bogus broker claims to be regulated by FCA (UK), KNF (Poland) and CMB (Turkey) but provides zero proof to back that statement.
Without the legal documents and without showing up in mentioned regulators’ registers, Cloxyields can be considered a scam. Read our Cloxyields review for exact details.
Additionally, we strongly advise you to avoid the fraudulent brokers VintageMarkets, LionTrader, and DashStamp.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Supported Platforms:||Web based|
|Minimum Deposit:||200 USD|
|Cryptocurrencies:||Yes (BTC, LTC, ETH, XRP)|
|Types of Assets:||Share CFDs, Forex, indices, crypto, commodities|
|Free Demo Account:||Unavailable|
|Accepts US clients:|
Details About Cloxyields Regulation
Cloxyields says it was regulated by top tier regulator FCA. However, the register of licensed brokers that FCA keeps does not include Cloxyields.
This also seems to be the case with other two regulators, KNF and CMB.
Since Cloxyields has a US address we have also checked the NFA record of licensed entities and it does not include Cloxyields either.
For example, In order to be regulated by FCA, brokers have to meet strict standards. Some of them are segregated bank accounts, compensation fund of up to 85 000 GBP, negative balance protection, leverage restriction.
Cloxyields can guarantee none of these!
Why Is Trading On a Licensed Broker’s Platform Preferable?
Regulated brokers that operate on a global scale have acquired licenses from top tier regulators like CFTC, ASIC, FCA. They respect the regulatory criteria and are constantly under the watchful eye of financial authorities. In case of rule breaking, legal action is taken.
Customers investing with licensed brokers enjoy enhanced consumer protection. They can trade safely with a realistic chance of profiting.
Reason more why you should avoid brokers like Cloxyields and choose a regulated firm.
How Reliable Is Cloxyields Broker?
Cloxyields is a scam site that claims to have been regulated by FCA, but without any proof and without appearing in the FCA register. This broker is not to be trusted under any conditions!
What Platform Does Cloxyields Offer?
Cloxyields allegedly grants access to a trading platform that includes super tight spreads, fast order execution and advanced trading tools. Users are supposed to be able to access various markets and trade safely.
Sadly, it seems that the factual state tends to be different. No download links are provided and there’s no desktop app available.
Only available trading terminal at Cloxyields is web-based. Upon making an account and accessing it, traders can witness a simple software with a limited functionality.
All the advanced functions are missing. Only a couple of basic charts are shown and some simple customization tools.
Cloxyields also lists trading apps as another promise in the row of lies. Trying to get more information about them will only take you to the user area where the deposit is required.
Without depositing, users can basically do no trading or get any information at all. It appears that trading apps do not actually exist with Cloxyields like promised.
What Cloxyields trading terminal provides seems like a far cry compared to MT4 or MT5. Software is only web based and it is missing crucial features like built-in indicators, scripts for custom automated trading, strategy testers.
Cloxyields platform is used for creating an illusion of trading. Basic charts that we see and some simple customization tools are not enough to make it believable.
Cloxyields Accounts Overview
Cloxyields lists the following account types available:
- Demo account
- Standard account
- ECN account
- Family account
No information about the deposit required per account is given on the site. However the client area mentions the cheapest investment plan to cost $200. We do not know what the accounts offer, either.
Also, avoid the trading frauds Zetano, Aiko Markets, and Bitonext at all costs! Moreover, before investing, always look into the past of internet trading firms!
Does Cloxyields Have Access to a Demo Account?
Although Cloxyields says you should be able to trade with a Demo account, the attempt to open one is futile.
After registering you are only linked to the client area where you have to deposit first.
Most regulated brokers allow trading risk-free with a Demo account. The purpose is for the potential investor to test their trading strategy and get familiar with broker’s trading conditions.
Cloxyields offers a 50% deposit bonus. The catch about all these forbidden bonuses is that they are not available for withdrawing until certain conditions are met. Usually, scammers ask for a huge trading volume requirement that is practically impossible to achieve.
This fraud remains mysterious about the exact criteria for withdrawing the bonus given.
What Is Known About Cloxyields’s Trading Conditions?
Cloxyields allows access to several groups of tradable assets. Investors can trade share CFDs, Forex, indices, crypto, commodities.
However, the site remains vague about the crucial info on some basic trading conditions. We could not get any information about spreads and leverage.
Cloxyields Minimum Deposit, Withdrawal Terms
No minimum deposit required is given in the account types. Client area mentions investment plans and cheapest one requires the minimum funding amount of $200.
Withdrawal Terms are undisclosed. The links to Terms and Conditions do not work to be able to check this. Stay away from a broker that does not give you these essentials!
Methods of Making a Deposit
Website claims to accept deposits via credit/debit cards, Bitcoin and E-wallet like Skrill and Neteller.
User area shows the real state of things. The only possible way of depositing funds is via crypto. This is not unusual. Scammers always prefer crypto depositing in order to stay virtually anonymous.
Scammed by Cloxyields Broker? – Let Us Hear Your Story
Have you fallen victim to Cloxyields before? Please tell us about your experience! We would be grateful if you shared this precious information with us. Every bit of information helps.
We can assist you in taking action so do not hesitate to speak up. It is important to start taking action in time.
But What Is A Chargeback?
Chargeback means to refer to your card issuer in order to report card misuse as a fraudulent transaction. This is done in order to get your money back from a scammer that has robbed you.
Your bank can start the chargeback process for you so you can get back the funds you have lost to a fraud like Cloxyields. Do not forget to do this in the period of 540 days after your deposit with a broker.