• Company name: BMFN Limited
  • Registration/license: Vanuatu
  • Registration/license requirement: USD 2,000

Is UniTrader a regulated forex broker or a scam?

no, UniTrader broker is Non-Regulated Broker. It is NOT SAFE to trade.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.

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.

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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