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Yabo Market Limited “disappeared” when the Turkish trader asked for withdrawal.

WikiFX | 2022-08-05 19:00

Abstract：Yabo Market Limited is an online forex broker registered in China. It was newly established. Recently this broker has caught our attention because one trader from Turkey told WikiFX that Yabo Market Limited does not allow him to withdraw. Protecting the legitimate rights and interests of forex traders are always the primary concern of WikiFX. In this article, we will expose this case to you in detail based on the evidence provided by the victim.

About WikiFX

WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

About Yabo Market Limited

Yabo Market Limited is an online forex broker registered in China. It was newly established and doesn't hold a legitimate license. You need to note that this broker does not use either MT4 or MT5 trading platforms. According to WikiFX, Yabo Market Limited has been given a very low rating of 1.05/10.

Description of the case in brief

One trader from Turkey told WikiFX that he deposited $224 in Yabo Market Limited. When he tried to withdraw $150, this broker refused the withdrawal. Then the trader wanted to withdraw $100. Yabo Market Limited gave no response. Even worse, the customer service team of this broker was not helpful.

This trader contacted WikiFX and reported the fraud of Yabo Market Limited to WikiFX. He hoped to get WikiFX's help.

Based on the pictures above, you can see that this trader showed us the deposit record and he wanted to withdraw $100 but Yabo Market Limited refused it. Even worse, this broker did not give any response to this trader.

This Turkish trader has asked for withdrawal many times, and the amount required for each time is different. But Yabo Market Limited refused the victim's withdrawal request. using the excuse of “a lot of work to do”, Yabo Market Limited stopped responding to this trader.

Conclusion

We believe that Yabo Market Limited is getting involved in a scam. This broker eventually took the victim's money away fraudulently without giving any response to the victim. The reason why WikiFX exposed this case to the public is to remind all traders of the potential risks. After all, what happened to this Turkish trader could happen to any of us. All traders should be vigilant when investing in a broker.

WikiFX is actively reaching out to the victim and other traders hoping to find more evidence to help him resolve the problem. Please stay tuned for more information.

WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!

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Related broker

Not Regulated

YABO MARKET LIMITED

Company name：YABO MARKET LIMITED

Score

1.48

Website：http://www.yabomarket.com/en

2-5 years | Questionable Regulatory License | Suspicious Operational Region | High Potential Risk

Score

1.48

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