The Forex industry and trading attract many new investors every day. The importance and popularity of Forex have also caught the attention of scam companies as they realize that they have a great opportunity in the market.
Delayed processing of withdrawal requests and unresponsive emails or phone calls are often early signs that your broker may be a fraud.
We recently learned that some clients of Uniglobe Markets, a forex broker operating under the UniglobeMarkets.com website, have mentioned complaints about the company’s frustrating withdrawals and lack of response. We investigated the broker and found several red flags, so let’s discuss them in detail in our Uniglobe Markets review.
At first glance, the broker’s website looks reputable and well-optimized. Still, from a professional perspective, their website is clearly a copy-paste of some well-known legitimate brokers, and what they actually offer is cheap, weak services and not worth it.
Our detailed Uniglobe Markets scam review will tell you what to ask and what to look out for before doing business with this or any other trading company.
Regulation and Security of UniglobeMarkets.com
Our first concern is always the safety and regulation of the broker. Unfortunately, Uniglobe Markets is not a safe forex broker. The famous Global Foreign Exchange Authority does not license this broker. The broker was suspected of being a scam company because they were not checked for compliance before they started, were never monitored for security, and could run their business the way they wanted.
Uniglobe Markets doesn’t seem to bother to add their security measures to the site. Do they use segregated bank accounts to hold client funds? Do they use encryption systems to protect customers’ personal and financial information? Unfortunately, we don’t know.
Bonuses & Promotions By Uniglobe Markets
The next ludicrous fraudulent activity is bonuses and promotions. Scam brokers tend to offer traders attractive but unrealistic bonuses and promotions. For example, Uniglobe Markets offers several promotions, including a 100% deposit bonus and a 20% tradeable bonus.
However, please note that such offers are only used to attract newbies and get them to sign up.
Trading Platform At Uniglobe Markets
The broker claims to offer a top-notch proprietary trading platform available as desktop, web, and mobile versions.
Uniglobe Markets supports the MT5 trading platform. It is a market-leading trading platform and the ideal solution for all levels of traders. However, most brokers today offer MetaTrader 4/5 platforms. So this is not a significant advantage for Uniglobe Markets.
We also couldn’t download the platform from the website at all. Therefore, even if there is information about trading conditions available on broker websites, especially if they are shady broker websites, we cannot be 100% sure that they are genuine.
Account Types And Minimum Deposit
Uniglobe Markets Standard Account requires a minimum deposit of $100. There are five types of trading accounts: Micro, Uniglobe Premium, ECN Classic, ECN Elite, and Uniglobe VIP. Each account offers different bonuses and promotions, tools, and services to attract as many traders as possible.
However, these are just empty words, and their services are not to be trusted or tried.
Uniglobe Markets accepts multiple payments. You can pay with a Visa/Master card or cryptocurrencies such as Bitcoin, Ethereum, or other altcoins. The problem with all bitcoin and crypto payments, in general, is that they are almost anonymous and 100% irreversible. This is not the same as paying with VISA or Mastercard. While you can request a chargeback to prevent credit card fraud, this is not possible when paying with Bitcoin.
According to the website, the transfer fee only applies if you pay with Visa/Master Card. This is how brokers try to trick you into using crypto payment options. However, as I mentioned before, bank cards are safer for dubious brokers.
Uniglobe Markets Review: Conclusion
All in all, Uniglobe Markets will only add to our vast list of scam brokers. We do not recommend working with them and hope our review will help you with your future decisions.
Additionally, Uniglobe Markets recently shut down the site, possibly because they were caught engaging in dangerous activities.
If you want to start trading and looking for a decent broker, check out our Forex brokers list. You will find a variety of brokerage firms with good reputations, excellent trading conditions, and strict regulatory policies. So please be safe. We wish you a successful transaction.