Is Universe Markets FX a scam or a legit broker?

Universe Markets FX has been suspected as a scam broker. This broker is blacklisted by the well-known regulatory authority and should be avoided. It is NOT SAFE to trade with this company. We have checked the company and 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.

About Universe Markets FX
🗺️ Registered inNo Registration
🗺️ Type of LicenseNo License
🛡️ Is Universe Markets FX safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

Universe Markets FX is a forex and CFD broker owned and operated by the White Square Trading Limited. This company claims to be based in London, although it is not regulated to provide financial services in the UK.

Moreover, the company was blacklisted by the UK’s Financial Conduct Authority and New Zealand’s Financial Markets Authority. Investing funds with unregulated brokers comes with a significant risk, because such entities, most often than not, are involved in scam.

The pages and official sources of the international regulators’ list alert shared with the authority directly or by other countries’ supervisory bodies or transmitted centrally. Those tools and general purpose of the regulatory bodies operate in order to enable stability of the market offerings, protect clients from potential and numerous frauds, enable reliability rules to financial service entities and more. As PBN Trade got no license to operate within the EU and other regulated jurisdictions, the broker was blacklisted and alerted by numerous EU authorities.

Conclusion

We recommend you to trade with serious and reliable regulators, such as FCA in the UK and FMA in New Zealand. For example, the license from UK’s Financial Conduct Authority requires EUR 125,000 of capital (aside from client deposits) for the STP license.

The regulator also protects customers when authorized financial services firms fail. Here you may check our list of brokers licensed by the FCA.

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