Archives: Brokers

Is Uniglobe Markets Scam or Legit Broker?

It is not safe to trade with Uniglobe Markets, as it is an offshore company. The website is owned and operated by Uniglobe Markets Limited. Uniglobe Markets is authorized to provide the financial Services as offered through this Website under Regularity Laws of the Marshall Islands, registration #78101. 

• The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as CobraCFD, Swissinv24, and more.

What is Uniglobe Markets?

Uniglobe Markets claims to offer their clients direct access to interbank liquidity, tight spreads (Also see No Spread Brokers), fast and quality execution and exceptional customer service. Uniglobe Markets was founded by a group of traders and financial professionals having significant experience in the Forex, CFD and Equity markets in Asia, Europe and North America. This has enabled them to select the best solutions to accomplish the main goal - to make available transparent Forex trading to clients from all walks of life, easy accessibility and security. Of course, it all looks good on paper, but is it actually so?

• In fact, Marshall Islands is an offshore zone attracting various firms that for the reason or another escape from the serious regulation or compliance to international service providing. However, in the case of financial investment or trading firms, the company should be a very respected entity, as the statistics show that the majority of non-authorized firms never recovered the sums of investors' investments. Therefore, we always advise avoiding offshore or companies with no license as there are too many frauds around.

• As most of the unregulated offshore companies, Uniglobe Markets provides its London address and contact phone number, however, we already know for a fact that this broker is not regulated and isn’t allowed to offer its financial services in the UK or any other country.

Overall Uniglobe Markets Ranking 

Based on the revelations about Uniglobe Markets safety and regulations issues, we do not rank positively Uniglobe Markets, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• Uniglobe Markets Overall Ranking is 4 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

Uniglobe Markets Alternative Brokers

Taking into consideration our finds and issues with the safety of Uniglobe Markets here are much better Alternatives to Uniglobe Markets with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• AvaTrade – Good for Currency trading
• InteractiveBrokers – Good for US Trading and Trading of Real Stocks
• XM – Good for Beginners

Uniglobe Markets in India

Uniglobe Markets has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading is actually prohibited in India. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here.

Uniglobe Markets in the USA

The United States is one of the countries that is not accepted by Uniglobe Markets. As per the U.S law, brokers regulated by CFTC are the only brokers allowed for the USA traders. So, except for Uniglobe Markets, you are only permitted to trade with the U.S regulated platforms.

Deposits & Withdrawals

Micro trading account with Uniglobe Markets and start with the smallest investment of minimum USD100. ECN trading account with a lower initial deposit of $1000

• UniglobeMarkets does not apply any deposit or withdrawal fee,charges may occur depending on your payment provider. 

Apps

Popular platforms MetaTrader4 and MetaTrarder5 are available for the traders use on the Uniglobe Markets. For the mobile version they need to download MetaTrader4 or MetaTrader5 on their iOS or Android devices and start trading currencies with CFDs. MetaTrader 5 for Android allows you to trade and check your account from anywhere. Access to the main features of the platform using your smartphone.

The new MetaTrader 5 for iOS devices offers online mobile trading on the Forex and CFD’s. Now trade online Forex and CFDs directly from your iPhone and iPad supported for all iOS versions.

MT4 is now available for your iOS/iPhone/iPad. Login Enjoy the opportunity to trade from anywhere in the world via Metatrader 4 for your iOS device(s).

Demo Account

Demo account is available on the Uniglobe Markets website. It allows beginner traders (Find out the Best Forex Broker for Beginners) to start practicing with zero initial payment and become a perfect trader, play with real-time conditions, test all functions that a real account gives access to, in real-time. Also, they can learn to analyze the most effective tool and trading chart by experts to make trading more profitable. Demo account gives you a chance to polish your trading skills and use different strategies in real conditions.

Uniglobe Markets Review Conclusion

We advise choosing a broker carefully and check on the broker’s regulation status first. The reputable firms that hold FCA, FINMA or other licenses are established in accordance with international standards, protecting clients at every step and even compensating the trader in case things go wrong with the company. Sig in with reliable brokers such as ForexTime and XM, and  InstaForex. 

• Overall ranking and experience for Uniglobe Markets is Negative

Is Markets.Online Scam or Legit Broker?

It is not safe to trade with Markets.Online, because it is an unregulated broker. In addition, the company has been suspected to be a fraud. The company has no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.

What is Markets.Online?

Markets.Online is a new player in the online trading industry providing its services since 2017, yet claims about their thousands of professional and amateur clients from all around the world. The broker offers to trade on over 300 asset pairs with exclusive low spreads (Low Spreads Forex Brokers), high leverages(Also see forex brokers with high leverage), and dedicated education with support. However, the broker is a trading name of the company established in Bulgaria Bankxi Ltd, which is not regulated by any international authority or by the local, Bulgarian regulator to deliver its service legally.

• Therefore the Markets.Online trading and investment can be considered extremely risky due to their non-authorized performance. In many cases, the companies with no license are simply a scam, that targets a huge number of traders to their rows and then simply take their funds. Often, the broker would find thousands of reasons why the money can't be withdrawn or the trader himself will face some loss operations while trading. Since none of the authorities require the broker to report every position and action done, the company can easily manipulate trades to its own benefit.

Markets. Online Review Conclusion

We do not advise trading with Markets.Online, even though yet there are no “cruel” stories revealed from their traders,  it is still a high risk to invest based on trust in words only. We advise selecting among FCA-regulated brokerages, ASIC-regulated or Swiss FINMA-regulated brokers, where the respective financial authorities are always on alert and your money will be safe and protected.

Markets.Online Update

We found the Markets.Online website is inactive and unavailable to reach. This means the broker no longer operates. However, it is best to avoid and stay alert if any proposals come. 

Is Trade WFX Scam or Legit Broker?

It is not safe to trade with Trade WFX, because it is an unregulated broker. In addition, the company has been suspected to be a fraud. While we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.

What is Trade WFX?

Trade WFX is a Forex broker that claims to be located in London, UK, but without being regulated by the UK's Financial Conduct Authority. They provide the address (#34 Duke Street, Mayfair. London SE1 9TA.‎) and British phone number, but most probably the company is not even located in the country.

• Moreover, there is also a warning from FCA against this broker that was targeting UK residents. Some of such entities run investment scams, and clients of such brokers don’t have any protection. Unlike FCA-licensed brokers, unregulated ones are not obliged to keep their clients’ money in segregated accounts.
• The license from UK’s Financial Conduct Authority requires EUR 125,000 of capital (aside from client deposits) for the STP license. The regulator also protects customers when authorized financial services firms fail.

Trade WFX Review Conclusion

We strongly advise opening a trading account only with brokers that are regulated by respected world authorities that comply with the required set of rules and have a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BDSwiss and TMGM.

Trade WFX Update

We found the Trade WFX website inactive and unavailable to reach. This means the broker no longer operates. However, it is best to avoid and stay alert in case any proposals show up.

Is UproFx Scam or Legit Broker?

UproFX is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.

What is UproFX?

UproFX claims to utilize the latest trends in the world of Forex, offering its clients a transparent and accurate representation of the most up-to-date trading technologies. The broker doesn't provide any information about its regulation or license and it actually seems it doesn't have any. As it claims to be registered in Estonia, it was supposed to be regulated by the local regulator Estonian Financial Supervision Authority. We didn't find the mentioned above registration number in the FSA's register, which means UproFX is not regulated to provide its financial services in Estonia as well as other EU countries.

• According to the website, UproFx is owned by Yield Enterprise Currency Software OÜ (company number: 14484668), Tallinn, Estonia, and operated from Riga, Latvia.

• The company's website supports English, German and Spanish languages, probably the countries it has been targeting. In fact, the broker has been blacklisted by Spanish regulator CNMV earlier this month:

  "UPROFX is not authorised to provide the investment services detailed in Article 140 of the Securities Markets Law, which includes investment advice, or to provide auxiliary services in relation to the financial instruments, including, for those purposes, foreign currency transactions."

UproFX Review Conclusion

We advise all investors and traders to avoid UproFX and other unregulated brokers. The lack of information about the broker’s regulations, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FP Markets and BDSwiss. 

UproFX Update

Recently UproFX website remains inactive and unavailable to reach, meaning the broker mutes its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case their receive trading proposals. 

Is Globalix Scam or Legit Broker?

Globalix is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.

• Globalix is owned by Globalix Ltd., which is an offshore company registered in the Marshall Islands.

  The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost being low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as GoldmanCFD, Obsbit, and more.

What is Globalix?

Globalix was founded in 2013 and has been offering Forex, CFDs, indices, stocks, and cryptocurrency trading. The company doesn't disclose any information about its regulation, so we suppose it doesn't have a reliable authority behind it. According to the website, the broker holds all client money with the top-tier banks in Europe, however, it is not located or authorized by any EU regulator, therefore, has no legal right to offer its financial sources to European residents.

• In addition, Globalix has been banned in Spain by its regulator CNMV in May 2019:

"GLOBALIX LTD is not authorised to provide the investment services, which include investment advice, or to provide auxiliary services in relation to the financial instruments, including, for those purposes, foreign currency transactions."

Globalix Review Conclusion

We advise all investors and traders to avoid Globalix and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BlackBull Markets and BDSwiss. Do not miss our Exness Broker Review. 

Globalix Update

Recently Globalix website remains inactive and unavailable to reach, meaning the broker mutes its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case they receive trading proposals.