Reason to avoid: No license
Listed Date: October 28, 2018
Top 3 Regulated Forex Brokers
Beware UB4Trade is a Non-Regulated broker. It is NOT SAFE to trade.
- Company name: Finatex Ltd
- Registration/license: None
- Registration/license requirement: –
UB4Trade is a Forex and CFDs broker, owned and operated by Finatex Ltd. The company claims to be located in London, UK, although it is not authorized to provide financial services in the UK. It seems that the broker has been targeting European residents, as the languages supported on the website are English and German, also the provided contact numbers are British and Swiss. UB4Trade doesn’t seem to be regulated by any of the regulators, moreover, Danish Financial Supervisory Authority has issued a warning against this firm in March 2018:
“Finanstilsynet has been informed that UB4TRADE provides financial services in Denmark. However, UB4TRADE is not under the supervision of the Danish Financial Supervisory Authority and is thus not authorized to pursue activities covered by the Danish Financial Business Act in Denmark.”
To sum up, UB4Trade is an unregulated broker that cannot be trusted. As one of the most important things when choosing a broker is whether it is licensed or overseen by any of the financial authorities. Generally, we recommend trading with financial services providers licensed by one of the most respected financial regulators – the Financial Conduct Authority. Check the list of the FCA-regulated brokers.