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Sanction
US NFA
2020-11-05
NFA orders Chicago, Ill. introducing broker Infinity Futures LLC to pay a $120,000 fine 
YORK FINANCE
Infinity Futures
No data
Scam Brokers
Score
1.51 /10
Danger
YORK FINANCE
Scam Brokers5-10 years
Suspicious Regulatory License
High potential risk
Add brokers
Comparison
Quantity 6
Exposure
Open Account
Website
Score
Regulatory Index0.00
Business Index7.01
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
More
Company Name
YORK BUSINESS ASSOCIATES LIMITED
Company Abbreviation
YORK FINANCE
Platform registered country and region
Hong Kong
Company website
Pyramid scheme complaint
Expose
Check whenever you want
Download App for complete information
This platform is a Ponzi Scheme. Please stay away!
4
Previous Detection :
2024-09-29
- 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!
- The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.
WikiFX Verification
Exposure
6 pieces of exposure in total Pyramid scheme complaint
Expose Resolved
Invalid account
Unbelievable! My account became invalid suddenly. All my money was gone.
2020-03-18 18:02
Unable to Withdraw
YORK FINANCE absconded overnight
In the daytime, the gang of identifier Hua Zheng and Meng Xianghong deleted the related data and absconded overnight. The platform used clients’ funds to buy shares and have earned 50 thousand profit, continuing to inveigle them to deposit $5000.
2020-03-18 21:46
Unable to Withdraw
The withdrawal is unavailable. The company has absconded.
I made huge losses on American shares last night. The company gave no explanation. Hope relevant department see to this.
2020-03-18 07:27
Resolved
Scam YORK FINANCE
YORK FINANCE gave no access to withdrawal and refunded the money into MT5. It is a simply scam.
2020-03-18 16:20
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
6
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