Forex markets can be lucrative platforms. Established traders earn significant amounts per trade. At the same time, other traders lose significant amounts to scam brokers.
This Uniglobe Markets review will show you whether you should trust this broker or it’s a scam.
If you’ve already lost money to Uniglobe Markets or any other scam broker, we can help you recover your lost money. Schedule a free consultation and we’ll do the rest.
So, what’s this Uniglobe Markets? Is it another scam in the forex industry? Keep reading for the whole truth.
An Honest Uniglobe Markets Review
Are you thinking of trading with Uniglobe Markets to earn consistent income as a forex broker? You should read our review first.
Forex trading is complicated, and sometimes brokers take advantage of and scam naïve traders. Is Uniglobe Markets among those scams? Is the broker here to reap people’s money? We have all the answers you need.
What is Uniglobe Markets?
Uniglobe Markets is a multi-asset broker and an online global financial trading platform founded in 2008. The broker has its head office in Marshall Islands and offers over 241 tradable assets.
Uniglobe Markets offers different trading instruments. You can trade forex, stocks, indices, spot metals, and commodities. The broker is authorized to operate under the laws of Marshall Islands under registration number 78101.
Uniglobe Markets offers multiple free training solutions as per client needs. The broker claims to provide unmatched customer support to its clients.
It has various account types, such as VIP trading account, ECN Classic, ECN Elite, Demo, Micro and Uniglobe Premium.
The broker claims to offer various promotions, including a welcome bonus, cash rebate, and refer-a-friend. It also claims to be a safe regulatory environment with no trade restrictions. With as little as $10, you can deposit and trade at Uniglobe Markets.
Uniglobe Markets offers multiple trading platforms, including MT4 and MT5. You can choose which trading platform suits your needs best.
The broker accepts traders from over 100 countries, including the UK, Australia, and Germany. It accepts payment options such as credit cards, bank wire transfers, and electronic payment systems.
Is Uniglobe Markets Regulated?
Uniglobe Markets is not regulated. This means that in case you have any issue, you can’t lodge your complaint with any supervisory body. Therefore, you should not trust this broker.
Even so, it claims to follow strict administrative guidelines while observing the laws of the Marshall Islands.
Why Are There So Many Victims of the Uniglobe Markets Scam?
Uniglobe Markets knows how to entice potential traders before scamming them. Since many people love free things, they fall victims to such scams because of small rewards.
An unsuspecting beginner may want to trade with Uniglobe Markets for various reasons, including:
- Welcome bonuses
- Low initial deposit
- High leverage
- ECN execution
- MT4 availability
However, we highly recommend staying away from this scam broker to avoid losing money.
Is Your Money Safe at Uniglobe Markets?
Definitely not. Experienced forex traders understand the risk of trading with an unregulated broker. If you deposit your hard-earned money at Uniglobe Markets, you might never see the cash again.
Offshore brokers like Uniglobe Markets with no credible oversight body will easily scam you without the fear of consequences.
Uniglobe Markets Scam Warning Signals?
1. The Location of the Company
Why is Uniglobe Markets located in Marshall Islands? Why choose an offshore location?
We can’t criminalize all offshore locations. And yes, there may be a few good apples from anywhere. However, some of these offshore zones attract scammers since they do not have strict laws.
2. Uniglobe Markets Isn’t Regulated
Uniglobe Markets claims to be running under the laws of Marshall Islands. However, such laws aren’t strict enough to regulate an international forex broker like Uniglobe Markets.
And there’s no significant regulation that governs its business in the countries where it runs like UK, Germany, Australia, etc.
This raises questions. The company may hide behind Marshall Islands’ laws while scamming traders.
One rule in the forex market is you should never make a deal with unregulated brokers like Uniglobe Markets. Dealing with them is like throwing away your hard-earned money.
3. Uniglobe Markets Offers Massive (Sometimes Misleading) Promotions
Uniglobe Markets claims to reward those who sign up with them through welcome bonuses?
Such bonuses are not real. Never let them blind you. You’ll only see the cash on your trading account but can’t withdraw it. That’s just virtual way to make it look like your account has more money, while it doesn’t.
They also reward you if you refer a friend to trade with them. While this is not always wrong, remember we’re dealing with a company that has multiple red flags. So, rewarding people to share about them massively will just bring in as much fish as possible to its net.
4. Traders Have Problems Withdrawing Money From Uniglobe Markets
Deposits are easy and almost instant. Traders can load their accounts via Neteller, bank wire, Skrill and FasaPay, among others.
The problem comes when trying to withdraw, something common with all scam brokers. Some traders complain that their withdrawal requests go unanswered.
5. Uniglobe Markets Cannot Operate in Certain Countries
A legit broker can run in each of its target countries, as long as it’s regulated by reputable bodies such as ASIC, FCA, CySEC and NFA.
However, Uniglobe Markets is not regulated. As a result, it cannot operate in countries with strict forex regulations, such as the UK and the US.
Are There People Who Have Lost Money to Uniglobe Markets?
Sadly, yes. Some choose to suffer silently, while others share their experiences to help other traders stay cautious. Here is what we got from some victims.
Uniglobe Markets Review Conclusion: Is This Broker Legit or Just Another Scam?
Uniglobe Markets is a scam. Your money, your financial data, and everything about you is not safe with it. It’s an offshore broker that is not regulated. It has some misleading promotions. Withdrawal is a pain. And it cannot operate in countries with strict financial laws.
If, by any chance, you lost your money to Uniglobe Markets, we can help you get it back. All you have to do is schedule a free consultation so that we can start the recovery process.