UniTrader Review

Is UniTrader Scam or Legit Broker?

UniTrader is a 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 guarantee from the official entities that oversee the Forex industry. Thus the engagement in trading with such a company means the trader will believe only in the broker’s words, and of course, it is a high risk.

What is UniTrader?

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

• Vanuatu is a popular offshore destination for Forex brokers, a lot of these companies start without licenses and operate in 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 client's 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 ASIC-regulated brokers.

Overall UniTrader Ranking 

With our revelations on regulations issues of UniTrader, we do not rank positively UniTrader, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• UniTrader Overall Ranking is 2 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.

UniTrader Alternative Brokers

As our research revealed safety issues with UniTrader, here we offer much better Alternatives to UniTrader with good regulations and great trading conditions. We select Good Brokers and trustworthy options for your comparison below: 

• Pepperstone – Best Broker for Low Minimum Deposit
• Interactive Brokers – Good for Real Stock Trading
• AvaTrade – Good Instruments and CopyTrading

UniTrader Review Conclusion

It is always better and safer to trade with a reliable broker licensed by Australia’s ASIC (Check out ASIC brokers), Cyprus’ CySEC, or UK’s FCA. Traders are recommended to trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FBS and Eightcap.

• Overall ranking and experience for UniTrader is Negative