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Yadix Review

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Yadix is an STP broker located in the Seychelles. We’re happy to report that this broker is regulated by the FSA, so they offer a trustworthy brokerage option. Since being established in 2010, Yadix seems to have been growing in popularity, with more and more traders registering accounts with them as of late. However, the fact that a company has many clients does not always mean that the company is the best option, so stay with us to find out if you should follow the crowd or look elsewhere.

Account Types

Yadix allows clients to choose from five different account types, with the choices being Classic, Rebate, Scalper, Pro, and the new Super Rebate account. All of the accounts allow hedging & scalping, expert advisors, anonymous trading, and offer the same minimum and maximum trade sizes. However, there are also several important differences for each account. Differences come in the form of a range of minimum deposit requirements, different leverages, different stop out levels, and more. Check below for a quick overview of each account.

Classic:

  • Minimum Deposit: $100
  • Maximum Leverage: 1:500
  • Margin Call/Stop Out levels: 100% Margin Call/50% Stop Out
  • Commission Fees: 0

Rebate:

  • Minimum Deposit: $100
  • Maximum Leverage: 1:500
  • Margin Call/Stop Out levels: 100% Margin Call/50% Stop Out
  • Commission Fees: $/€5 per lot per side (round lot $/€10).

Scalper:

  • Minimum Deposit: $500
  • Maximum Leverage: 1:500
  • Margin Call/Stop Out levels: 100% Margin Call/80% Stop Out
  • Commission Fees: $/€5 per lot per side (round lot $/€10).

Pro:

  • Minimum Deposit: $10,000
  • Maximum Leverage: 1:200
  • Margin Call/Stop Out levels: 100% Margin Call/80% Stop Out
  • Commission Fees: $/€3.5 per side per lot (round lot $/€7

Super Rebate:

  • Minimum Deposit: $5,000
  • Maximum Leverage: 1:500
  • Margin Call/Stop Out levels: 100% margin call/50% stop out
  • Commission Fees: 0

The first thing one should take into account is the minimum deposit requirements for each account. While most traders would have the funds for the Classic or Rebate accounts, they may not have enough for the Scalper or Pro accounts. This may help to narrow the selection. Of course, there are advantages and disadvantages for each type of account. For example, the Classic account is the only account that doesn’t charge commissions and the Pro account offers the lowest leverage amount, which could be seen negatively. Keep reading to find more information on each of the account types.

Platforms

Yadix exclusively offers the MetaTrader 4 platform, which is available for download on PC, Mac, Iphone, Ipad, and Android. You may have heard of this widely popular platform before, but if you haven’t, let us explain why we’re so happy to see this option available. MT4 offers a variety of helpful tools, including market watch and navigator windows, analysis tools, and a multiple charting facility, just to name a few. The platform also supports expert advisors, hedging and scalping, one-click order execution, and more. Many find MT4 to be easy to navigate and users also love how accessible the platform is. We feel that MT4 offers everything that a trader could possibly need with a frustration free interface, so we did not feel as though anything was missing from the platform options. If you’d like to download MetaTrader 4, Yadix offers a link to do so at the top of their webpage.

Leverage

The maximum leverage for the Classic, Rebate, Super Rebate, and Scalper accounts is listed as 1:500. This is a competitive option, and while you may occasionally see leverage options this high for one account with other brokers, it’s rare to see this offer for all three of the accounts with the lower deposit requirements. When it comes to the Pro account, the leverage only goes as high as 1:200. While this is lower than the other options, it’s likely done to help prevent large losses, since trading with higher leverages is much riskier. Since those on the Pro accounts would have a much larger account balance, it wouldn’t be a good idea to choose a very high leverage and many would even choose to go lower than the highest amount offered. A few traders may wish for a higher option, but most traders will be completely satisfied with these options.

Trade Sizes

One thing that all of the accounts have in common are the minimum and maximum trade sizes. The minimum trade size is 1 micro lot (0.01), regardless of which account you have chosen. It’s great to see that such small trade sizes are allowed. When it comes to maximum trade sizes, the amount is 100 standard lots for all five of the different account types. While the accounts do share the same trade sizes, they do not share the same margin call and stop out levels. To quickly summarize, these levels are put in place by all brokers to stop accounts from going negative. If you reach the margin call level, you won’t be able to place any new trades. If you reach the stop out level, your trades will be liquidated one by one, starting with the least profitable. Some brokers offer different levels, but you’ll always want to know these rules for your particular broker. Below, you’ll find the margin call and stop out levels for each account.

Classic Account: 100% Margin Call/50% Stop Out

Scalper and Pro Accounts: 100% Margin Call/80% Stop Out

Rebate and Super Rebate Accounts: 100% Margin Call/50% Stop Out

Trading Costs

One of the most important things to consider when choosing a broker is the fees that are charged. Of course, fees are unavoidable, since brokers have to profit somewhere. This is where commission fees come in. Those trading with a Classic or Super Rebate account will not have to pay any commissions, but all three of the other accounts do charge commissions. Commissions for the Rebate and Scalper account are listed as $/€5 per lot per side (round lot $/€10). The better commission fees are for the Pro account, which lists commission charges as $/€3.5 per side per lot (round lot $/€7). It’s great to see that there are two commission free options, but this may not be enough of a reason to make one choose the Classic or Super Rebate account. If you do have your eye on any of the other accounts, you’ll still be paying reasonable commission fees. Spreads are also applicable, but more on that later.

Assets

Yadix offers 56 currency pairs, more than 12 indices, and commodities including gold, silver, and more. What’s missing from this list, as you may have noticed, are cryptocurrencies. This option is not offered among brokers as commonly as the others, so it seems special to find a good broker that also allows crypto trading. Although we weren’t satisfied with that, the currency pairs, indices, and commodity options were very good, so it somewhat made up for that. We also don’t find precious metals offered as frequently, so this is one thing that this broker is offering that stands out. Overall, we would say that the asset offerings are average.

Spreads

Spreads, or the difference between the bid and ask price, are something that needs to be taken into account for every Forex broker. High spreads can be a deal breaker, since they could potentially dissolve your profits. Since Yadix uses multiple liquidity banks as execution venues, they are able to provide the competitive spreads by combining the best bid and ask prices from different banks. For the Classic and Rebate accounts, spreads are listed as starting from 1 pip. The highest spreads are on the Super Rebate account, which has spreads listed as starting from 2 pips. The best spreads are reserved for the Scalper and Pro accounts, which list spreads as starting from 0.0 pips. While the 1 pip spreads are low, you can’t find better than 0.0, so the Scalper and Pro account are the better options here.

Minimum Deposit

The minimum deposit for both the Classic and Rebate accounts is set at $100. Most brokers usually offer at least one account type with a lower minimum amount, around $10. Do keep in mind that you just wouldn’t be able to do much with such a small amount in your account. You’d also find yourself depositing more funds quickly after funding with such a low amount. So, this isn’t a bad minimum, it would just be nice to see a lower offer for at least one account type. Moving on, the Scalper account requires a minimum deposit of $500. This amount may seem high to beginners, but it is reasonable for this type of account. Next to last is the Super Rebate account, with a deposit minimum of $5,000. Finally, for the Pro account, the required deposit is $10,000. This amount is large for anyone, but more professional traders will understand the reasons for the higher deposit amount. This type of account is meant for experienced and established traders that have the funds to spare. Fortunately, those without a large amount of funds will have two or three accounts to choose from, so there is still a good selection available.

Deposit Methods & Costs

Yadix offers several deposit methods, including: Skrill, Neteller, Credit/Debit card, WebMoney, FasaPay, CashU, Moneta, Yandex Money, Qiwi, iDEAL, MISTERCASH, Pay SafeCard, InstaDebit, Bank Wire, and AliPay. The minimum deposit amount for every method is $100, the same as the lowest deposit requirement. All of the methods are available either instantly or within minutes, aside from bank wire, which is available as soon as funds are received. Yadix has made it much simpler to choose a deposit method than with other brokers, since traders do not have to compare different deposit requirements, processing times, or other criteria when attempting to choose a method. However, since withdrawals must be sent back to the original deposit method, traders would want to take withdrawal specifications into account when choosing how to deposit.

Withdrawal Methods & Costs

All withdrawals must be sent back to the original method used for deposit. If the withdrawal sum is greater than the original deposit, extra funds can be sent back via wire transfer or through one of the e-wallets.  There are no limits on the minimum or maximum withdrawal amounts for any of the methods. Below, you’ll find the withdrawal fees associated with each method.

Credit/Debit Card: 1%

Neteller, Skrill, QIWI, WebMoney, CashU, and all other wallets: 1%

FasaPay: 0.5%

Bank Wire: $50

While most of the withdrawal fees are very low, the fee for bank wire is very high. It is expected for some types of fees to be incurred with this method, but a $50 fee could seriously cut into profits, which makes this withdrawal method much less attractive. Fortunately, withdrawing through any of the other methods won’t make much of an impact on your balance, and are actually lower than the competition.

Withdrawal Processing & Wait Time

All withdrawals are listed as being processed within 24 hours and available the same day. Of course, since Yadix could take up to 24 hours to process your funds, it would be possible that you’d actually receive them the day after you make the request. Also, Yadix was not specific about bank wire, but this method usually takes a few days to be received, depending on your bank. So, we would expect to receive funds either the same or next day after making a withdrawal request, except there may be a few days longer of a wait time for bank wire. Either way, the amount of time that it takes to receive withdrawals is very quick, especially when compared with other brokers, many of which have processing times of 48 hours or more.

Bonuses & Promotions

Many brokers offer bonus opportunities as well as promotions, so we were happy to report that Yadix was no exception. Since there are several ongoing opportunities, we’ll start with the Welcome Bonus. This bonus allows traders to earn up to $10,000 in cash added to their MT4 balance, once they’ve met trading requirements, which are 0.3 lots for every $1 in bonus. If you’re trading from a Scalper account, you’ll also have access to the 20% commission back offer. Requirements are that you must deposit at least $2,000 (The minimum for this account is $500) and trade a minimum of 10 lots per month. Next, there is an Instant Rebate program. For every trade you make, you will qualify for real cash rebates up to $12 per lot. The rebate levels differ for each account, so be sure to check the specifications.

Traders will also have the ability to claim a free VPS if they meet certain balance and volume requirements. Finally, Yadix is giving away free welcome gifts to owners of the Classic account, which include: iPhone X, Galaxy S8+, MacBook Pro, and Playstation 4. All of the offers require the same deposit minimum of $100, but the different devices do require different number of lots. If you’re interested in any of the bonuses or promotions, be sure to check out all of the terms and conditions on the ‘Promotions’ page. Also, keep in mind that you do need to email support if you’ve met requirements for any of these opportunities, otherwise you won’t receive credit.

Educational & Trading Tools

At first, Yadix’s website made it seem as though they were not offering anything for education, which was a big letdown for us. However, after we did more digging, we found an Education Center available under the ‘Tools’ section of the website. We’re happy to report that Yadix really went above and beyond here, by offering practice accounts, video tutorials, and complete guides for both beginner and advanced traders. This is really one of the most detailed and helpful education centers we’ve seen before, so we were surprised that Yadix had this gem hidden away, instead of advertising it on the home page.

We also want to highlight all of the tools that are available. These include a free VPS, real-time Forex economic calendar, TruFX EA, CapitalPro EA, and one-click trading. Those options are available via the website, but traders will also find a variety of tools available on the MT4 platform. We mentioned several of those earlier, but just to recap – that includes multiple charting facilities, analysis tools, market watch windows, and many more. When you combine all of the tools available on the website and within MT4, you shouldn’t feel that anything is missing.

Customer Service

Support is readily available via LiveChat, email, Skype, and phone. To get in touch with an agent instantly, you can simply click the LiveChat option in the bottom right of the screen. To send an email, you can click the ‘Email Us’ option on the contact page, or send your email to one of the addresses listed below. Skype is another excellent option and one that we don’t see often. Finally, traders will have the ability to directly call one of six different contact numbers, based on their inquiry. Below, you’ll find all of the listed contact information, as well as the hours for each department.

Skype ID: YADIX.FOREX

Customer Support: (05:30-17:00 GMT)

  • Phone: +44 (0) 203 239 6117
  • Email: support@yadix.com

Russian Support: (06:00-18:00 GMT)

Technical Support: (24/5)

Back Office: (05:30-17:00 GMT)

Partnerships & Institutional Services: (05:30-17:00 GMT)

Demo Account

Traders can open a risk-free demo account through Yadix in order to practice trading on a real account with a mock balance. When signing up for an account, you’ll need to fill in some personal details, like name, country, email, and your phone number. You’ll then be given a mock balance of $100,000. The demo account mimics everything about a real account, and the price feed and execution is mirrored from real time data. What we didn’t like about the demo account with this broker was the lack of flexibility. It would have been nice to see different accounts that mirror the real accounts that are offered, since it could help to get an understanding of which account may suit you best. Also, the mock balance that is given is large and that may mean that traders make unrealistic trades on their demo accounts, which doesn’t provide the best learning opportunity. For that reason, we would like to have the ability to type in any account balance, or at least to have a few choices on a drop down list. Overall, a demo account is a great tool and we’re happy it’s offered, we just wish the terms were a bit more flexible.

Countries Accepted

On the website, you’ll find that Yadix states they do not offer services for citizens of the United States. However, the information on broker websites can be misleading, so we attempted to open an account from the US in order to make sure. After filling out all of our details, we had absolutely no issues doing so and we quickly received an email with our login ID and password. It’s possible that Yadix may need to update their website, but remember to disregard anything that says you wouldn’t be allowed to open an account from the U.S. There are no other restricted countries, so everyone will have the ability to open an account with Yadix.

Conclusion

Choosing a broker isn’t a black and white choice, since there are so many things to take into consideration. We’ll start with the negatives. For starters, it would be nice to see a lower deposit requirement for at least one account type, around the $10 range. Also, we missed the ability to trade cryptocurrencies, would’ve liked to see much lower fees for bank wire withdrawals, and wish that there were more flexible options when creating a demo account. This broker does charge commissions, but there are two fee free options, which moves us into the positive qualities about this broker. There are five different accounts to choose from, which provides traders with a good selection. The highest leverages and lowest spreads both provide excellent options and are competitive offers.  When it comes to funding, there are a variety of deposit and withdrawal methods, all of which are processed quickly and come with low fees, with the exception of wire transfer. This broker also offers some good bonus and promotion opportunities, although the requirements for some of those may not be possible for all traders.

If you’re a beginner, or even an advanced trader, you’ll benefit from the variety of educational resources and trading tools that are available. Finally, everyone is accepted and there are several contact methods, including direct phone numbers, so getting in touch with support should never be an issue. It may seem like we’re highlighting a lot of the positives, but do remember the negatives we mentioned, especially the fact that we would have liked to see more assets offered. Since this broker is regulated, they are certainly a trustworthy competitor, but it really comes down to comparing their options with other brokers. Perhaps you won’t have to look further, but if you do, it won’t be too easy to find a broker that offers more competitive options.

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