Is UniTrader a scam or a legit broker?

UniTrader is 100% fraud company. The broker is registered offshore and does not hold any proper license from a well-known reliable financial regulator. It is NOT SAFE to trade UniTrader. We never advise trading with an offshore broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no any guarantee from the official entities that oversee the Forex industry. Thus the engagement to trading with such a companies means the trader will believe only on the broker’s words, and of course, it is a high risk.

About UniTrader
🗺️ Registered inVanuatu
🗺️ Type of LicenseOffshore License
🛡️ Is UniTrader safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

UniTrader is a Forex and CFD trading platform. The brand is operated by the BMFN Limited, an offshore company incorporated in the Republic of Vanuatu by Vanuatu Financial Services Commission.

Vanuatu is a popular offshore destination for Forex brokers, a lot of these companies start without licenses and operate places such as Vanuatu or the Caribbean islands.

The advantages are speed and low cost. UniTrader doesn’t provide much information about itself – only the email for clients’ requests.

We don’t recommend dealing with offshore registered brokers as there is no assurance whatsoever regarding the safety of the clients’ funds and the credibility of the brokerage.

Conclusion

Moreover, Italy’s CONSOB has recently issued a warning against both UniTrader and BMFN Limited. It is better to invest with brokers regulated by reliable authorities such as UK’s FCA, or Australia’s ASIC, for example. Here is the list of the ASIC-regulated brokers.

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