Yuan Pay Group calls itself a crypto trading/investment platform. They supposedly work closely with major Chinese banks and their trading system is said to yield enormous profits. If you have heard their name, then chances are you might have seen a couple of their “Celebrity Endorsements”.
For people that are just venturing into the crypto space, it is indeed hard to spot the flaws exhibited by this firm. Crypto markets are a place which has got tons of potential. Sadly, fraudulent platforms like this one come up with ridiculous narratives and manage to loot the public.
This firm is running aggressive marketing campaigns and we have a strong reason to believe that they are particularly targeting residents of New Zealand. Even the Financials Market Authority in New Zealand has blacklisted this software and are doing their best to raise awareness about this scam.
Surprisingly, a lot of websites are promoting this fraudulent app and it is heartbreaking to see bloggers and vloggers manipulate people just to make a quick buck. As far as the flaws of this platform are considered, there are a lot of things to discuss.
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So, before enrolling with them, go through our detailed article and let the data help you choose the correct side.
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Who is behind the Yuan Pay Group?
There are tens of thousands of trading softwares in the market. Majority of them look good in hindsight and scammers have mastered the art of fitting the line. Few con-artists even manipulate the data to promote their services. Over the years, a vast majority of auto-traders and black box systems have collapsed as the algorithms just cannot keep up with changing market conditions.
One of the most prominent patterns all the losing software exhibit is non-transparent operational model and unclear origins. Yuan Pay Group does not reveal any details about the founders or fund managers. Even their website is registered privately and guess what? They are using a paid service to hide their real identity.
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We used every trick in the book to see if we could find any information about them. Unfortunately, people behind this fake trading app are too clever and the way they operate clearly proves that they are professionals.
Think for a moment, if this app is really so successful, then why isn’t any data about them present on the internet? Aren’t the flaws in their narrative very obvious?
Being transparent is important for all the legitimate firms in the finance sector, but the sketchy ones will never adore this concept as it might help the authorities track them down.
Does Yuan Pay Group really work with Chinese Government?
Many trading institutions do work with the government if there is a win-win situation present. China’s government has been somewhat a critic of cryptocurrencies for over a decade now. They are restricting the retail side from getting involved by placing numerous new rules and this trend is not likely to go away anytime soon.
This platform claims to work hand in hand with China’s government and banks. Apparently, this firm gets access to firsthand information about the way things are structured with regards to cryptos and according to them, that is their edge. They boldly say that they are the government approved distributor of China coin.
Newbies are likely to find their claims and narratives overwhelming and that might make them fall for the trap. However, it takes a lot to sneak past us and our trained eyes can easily spot the mistakes present. For starters, they have no evidence to prove that they are working with the government or the banks.
No audited reports of this company are available to the public. No actual celebrity or authoritative figure has ever endorsed them. The available data proves that their narratives are false and manipulative for the most part.
As the fact that they are bluffing is clear, ask yourself, do you really believe anyone apart from gullible investors would ever dare to invest with them?
Yuan Pay Group Trading Software performance
Yuan Pay Group is primarily nothing more than a lead capture device for the offshore brokers. This platform uses laughable stories to attract the public and makes money by referring them to the unregulated brokers. There is a disclaimer section on their website and according to the data on their interface, more than 70% of the people lose money with them.
If you notice their whole platform, you will find out that there is no trading history or any form of verifiable track records present. In other words, they have nothing that can be considered as solid data. We do not know the set of indicators used by them.
The amount of leverage they employ is mysterious and there is no real way to gauge their trading systems. Minimum trade size is said to be around $25 or equivalent and the minimum withdrawal amount is $500 or equivalent.
Note that it is going to be one big roller coaster ride if you apply for a withdrawal and chances are you still might never see your money again. As the number of uncertainties with them are too high, no experienced trader would proceed with them.
After all, without knowing things like win rate, drawdowns and volatility exposure, how can we trust them with our money?
Trading involves a gigantic amount of risk. While there are ways of mitigating risk exposure, the vast majority of the retail side are not aware about the methods. Moreover, handling derivatives or a basket of currencies are not something that everyone can do effectively. Yuan Pay Group does not mention anything about risk management.
If they really care about the clients and their financial well being, then they should have explained this concept in great detail, right? The direction based strategies might yield better returns in the short term, but for best results, one always needs to maintain a diversified long-short portfolio and there is no way around that.
As the risk management aspect is not covered, it is going to be an unwise move to use this app. Trading with them is more or less like going downhill on a car with no brakes. You might see some gains here and there. However, you are bound to experience a nasty crash in the near future.
Marketing Campaigns Explained
This trading app right now is being promoted heavily on social media platforms. Creators behind this firm have even paid for press releases on niche websites and they have managed to create a buzz. Affiliates appear to be profiting big from the current situation. Offshore brokers have a tough time when it comes to getting new clients. Platforms like Google and Facebook do not entertain ads from unknown origins.
So, unregulated brokers use this type of trading software platforms to fulfil their needs and pay big commissions to the people running them. While there is no way to figure out the exact commissions paid by the broker, we can assure you that the people involved with the marketing side are likely to be making a fortune.
Due to the conflict of interest present, never indulge with any website or blog that promotes them. Keep in mind that all the people involved with this brand will profit directly or indirectly only if the end clients lose money.
China and the crypto markets have a complicated relationship and history. Rumours of digital Yuan have been floating in the market for a considerable amount of time now. However, the exact plan of the government is still unclear and unless more data pops up, you should never listen to anyone.
Yuan Pay Group claims to be the only distributor of China coins. Apart from their website, there is literally no other credible source that talks about this topic on the internet. Given every fact about them till now, it is pretty safe to assume that they are bluffing about their involvement with China coin and other related activities as well.
Scammers intentionally make narratives vague and overwhelming to win over potential investors. However, you should never invest money without crossing the information. Always have an open mind and if things do not add up or if you have serious concerns, then talk to a financial planner.
Yuan Pay Group Feedback
Every successful trading software earns a loyal following. The internet has made it extremely easy for the scammers to give wrong impressions and the crooks create manipulative social proof to enhance their profiles.
Thankfully, people have realised the ways criminals use and they are doing a nice job of breaking the patterns. Below, we have taken a few comments from Reddit’s thread. The interaction between users is a delight and it is nice to see people helping one another make wise decisions.
Hello guys Need some expert opinion, or not so expert but insightful.
They claim they hope to be the next digital Chinese currency. However their website reeks of mistrust. Especially for advertising huge sums that can be gain.
Also you are directed to one broker obrinvest, which I have found some not so great feedback.
So my alarms are beeping cause I would not like to incur in any stupid loss.
Has anyone here bought, or entered this group circle?
Let me know your experience, opinion.
Digital yuan will be released by Chinese Government directly. I dont think they will involve petty traders. Digital yuan will be 1:1 to chinese fiat currency. DO NOT GET SCAMMEND by sending money to whoever you were going to buy from.
If you are reading this post a bit late and have already deposited funds with them, then take action immediately. Things like wire recalls, chargebacks and crypto tracing can be used to take funds back from the culprits.
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Yuan Pay Group is a trading app that exposes the retail side to a lot of risk. Their systems are not tested. Creators are unknown. The way the algorithm screens the opportunities and selects the best trades at any period of time is not clear. Moreover, they are associated with a lot of sketchy, offshore brokers.
Conflict of interest is sky high and to make things work, testimonials reveal scary things. As the platform blatantly lies about most of their accomplishments and other metrics, people should avoid them at any cost.
We are not saying that it is impossible to make money from trading. However, with this platform the chances are almost zero and that will be the case with most unregulated brokers.
So, be careful while making choices and if you have any doubts about the legitimacy of any exchange or firm, perform a detailed research before making a decision.