United FCG Review
Reason to avoid: No license
Listed Date: December 11, 2018
Top 3 Regulated Forex Brokers
Beware United FCG is a Non-Regulated broker. It is NOT SAFE to trade.
- Company name: United Financial Commodity Group
- Registration/license: None
- Registration/license requirement: –
United FCG is a broker that offers trading with multiple asset classes including Forex, cryptocurrencies, commodities, indices, and stocks. The broker doesn’t provide much information about its location, the company behind the brand as well as its regulation. The terms and conditions state that the card payment and billing services are processed by the subsidiary company in Bulgaria. Also we have found that all the terms and conditions are governed by the laws of Bulgaria. However, the broker is not regulated by the Bulgarian Financial Supervision Commission or any other regulator.
Usually, those brokers who do not disclose its location/regulation details are not regulated, not comply with the international standards and do not guarantee the safety of clients’ investments.
In addition, the British Columbia Securities Commission has issued a warning against United FCG:
“UFCG claims to be a commodities trading consultancy firm, offering an online trading platform for Forex, cryptocurrencies and other securities. We recently became aware of United Financial Commodity Group/United FCG and that it had accepted funds from a British Columbia (BC) resident to trade with the company. United FCG is not registered to trade in, or advise on, securities or exchange contracts in BC.”
We keep reminding traders to exercise caution when dealing with firms that are not registered to trade nor regulated by reliable authorities. Choose among the legit brokers with licenses form respected financial authorities, such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC) as they have to follow strict financial and ethical rules.