JYL MARKETS Forex Broker

Note: For some unknown reason, we cannot open JYL MARKETS official site (http://www.jylmarkets.com/en/index.php) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue. General Information & Regulation JYL MARKETS, a trading name of Hong Kong JYL Software Development Limited, is allegedly a financial services company incorporated on 5 December 2019 and registered in China that claims to provide its clients with leverage up to 1:200 and floating spreads from 0.9 pips on the MT4 trading platform, as well as a choice of three different live account types. As for regulation, it has been verified that JYL MARKETS does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.38/10. Please be aware of the risk. Account Types JYL MARKETS claims to offer three types of trading accounts, namely Micro, Standard and VIP, with minimum initial deposit requirements of $200, $1,000 and $10,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less. Leverage The maximum leverage ratio provided by JYL MARKETS is up to 1:200. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you. Spreads JYL MARKETS claims that the spread varies depending on account types. For example, clients on the Micro account can experience spreads between 2.0 and 2.2 pips, while the Standard and VIP account members can enjoy tighter spreads of 1.5-1.7 pips and 0.9-1.2 pips respectively. Trading Platform Available The platform available for trading at JYL MARKETS is said to be the state-of-the-art MetaTrader4. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5. Deposit & Withdrawal The minimum initial deposit requirement at JYL MARKETS is said to be as high as $200. However, the broker says nothing about the acceptable deposit and withdrawal methods. Customer Support JYL MARKETS‘ customer support can be reached by email: jylsdljy@jylmarkets.com. Company address: Fu Tao Building, Argyle Street, Yau Tsim Mong, Hong Kong. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most brokers offer. Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.