Looking to read Universal FX reviews, you are in the right place. Is Universalfxpro.com a scam or legit broker? Read reviews to know about this forex broker.
This article promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
Table of Contents
About Universal FX
Universal FX otherwise known as Universalfxpro.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices.
What We Discovered about Universalfxpro.com Regulation
First of, Universalfxpro.com claims that the company Universal Fx Ltd is based in the United Kingdom.
More so, Universalfxpro.com also claims to be licensed not only by the UK’s Financial Conduct Authority (FCA) but also by regulators in Cyprus, South Africa and the Bahamas.
Following this, a check of the FCA register shows that a company by that name exists but it is no longer authorised to provide financial services. Universalfxpro.com cannot be found in the databases of the other sponsoring regulators.
As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit.
Again, Universalfxpro.com does not provide access to the Client Agreement or other documentation, so we don’t really know who we are dealing with.
Furthermore, this broker does not offer money back guarantee which means trading on such platform is clearly putting your funds at a risk of scam.
These drawbacks are for forex traders/ clients to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Universal FX Minimum Deposit for Traders
The broker Universal FX does not specify its minimum deposit. In contrast, licensed FX brokers clearly spell out their regulations and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
Universal FX do not say which deposit methods it accepts and transaction fees.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Universal FX Provides What Trading Software?
Universal FX openly claims to offer industry trading software MT5. The platform’s download links, however, are empty and logging into a newly registered account has proven impossible.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Frankly, we say don’t consider doing that with an illegitimate forex broker like this one because you stand the chance of losing your money.
Universal FX Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that Universalfxpro.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Universal FX located at Universalfxpro.com appears like a trustworthy trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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