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YLCHAT

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Operating status: SCAM

Website: https://ylchat.com/; https://ylchatmarts.com/

Broker violations and abnormal records
  • Feb 16, 2025 The NZ FMA adds YLCHAT to its warning list

    On February 17, 2025, the New Zealand Financial Markets Authority (NZ FMA) released a warning list, advising investors to stay vigilant about 96 suspicious investment websites including YLCHAT. https://www.fma.govt.nz/library/warnings-and-alerts/network-of-fake-online-investment-platforms/

    On February 17, 2025, the New Zealand Financial Markets Authority (NZ FMA) released a warning list, advising investors to stay vigilant about 96 suspicious investment websites including YLCHAT. https://www.fma.govt.nz/library/warnings-and-alerts/network-of-fake-online-investment-platforms/
  • Feb 16, 2025 BrokersView has reviewed that YLCHAT is an unregulated broker

    YLCHAT claims to be headquartered in the United States, being an MSB registrant of the Financial Crimes Enforcement Network (FINCEN). However, the MSB registration doesn't constitute a license from a financial regulator. The National Futures Association (NFA) has no information suggesting that YLCHAT is licensed or regulated in the US. The New Zealand Financial Markets Authority (NZ FMA) has flagged YLCHAT as a dubious investment website.

    In essence, YLCHAT is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds.  YLCHAT appears to be a scam. 

    YLCHAT claims to be headquartered in the United States, being an MSB registrant of the Financial Crimes Enforcement Network (FINCEN). However, the MSB registration doesn't constitute a license from a financial regulator. The National Futures Association (NFA) has no information suggesting that YLCHAT is licensed or regulated in the US. The New Zealand Financial Markets Authority (NZ FMA) has flagged YLCHAT as a dubious investment website. In essence, YLCHAT is not regulated by any governing body. Entrusting it with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. YLCHAT appears to be a scam.

Related Complaints

Q&A

I don't think YLCHAT is legit, do you?

adzy
Greece
Feb 20, 2025
ANSWER Dear Investor, We suspect that YLCHAT is a scam. The company relies solely on an alleged MSB registration with the Financial Crimes Enforcement Network (FINCEN) to substantiate its legitimacy. We have not found any records suggesting that it is authorized by the National Futures Association (NFA) in the US. Additionally, the New Zealand Financial Markets Authority (NZ FMA) has blacklisted YLCHAT for suspicious activities. Therefore, YLCHAT is not a legitimate broker, and we strongly suggest you avoid using YLCHAT. To protect your investments and have peace of mind, it is crucial to conduct thorough research.
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What do u know about YLCHAT?

Ayodeji Ibrahim
Finland
Feb 17, 2025
ANSWER Dear Investors, We strongly advise against trading with YLCHAT due to serious concerns about its regulatory status. Here's what you need to know: YLCHAT claims to be based in the US and registered as an MSB with the Financial Crimes Enforcement Network (FINCEN), but this registration doesn't equate to a license from a financial regulator. The National Futures Association (NFA) has no records of YLCHAT being licensed or regulated in the US. Additionally, the New Zealand Financial Markets Authority (NZ FMA) has flagged YLCHAT as a suspicious investment site. Stay vigilant and protect your financial interests. Stay away from YLCHAT.
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1 comments

Park Seo joon
Scammers can't access my account
Feb 17, 2025
1
Reply
Official BrokersView
Dear, about your problems encountered in this broker, you can submit a complaint with your proofs, Please click the link to submit：https://www.brokersview.com/complaint service@brokersview.com
Feb 18, 2025
Reply
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