The reason why we’re doing the Uni-co Review is that we found numerous complaints against the broker. Trading forums are swarming with frustrated statements and confessions.
We have analyzed Uni-co’s regulatory status, trading platform, fraudulent practices, instruments, funding methods, etc. After reading this review, we guarantee you’ll forget about trading with Uni-co!
Regarding Uni-co’s regulation, this financial swindler claims to be operating under Fortune Investment Group Ltd, a company allegedly based in the Marshall Islands.
The Marshall Islands is a controversial offshore domain with a loose regulator (GLOFSA). This domain is not credible at all when it comes to trading. There are multiple security issues, and the complaints testify to that.
Reliable Tier 1 regulators of the financial markets that will ensure safe trading include the UK’s FCA, German BaFin, Italian CONSOB, etc.
Speaking of regulators, multiple authorities have issued warnings against Uni-co, thus exposing the fraud. We found as many as seven official warnings.
Based on the research we did, Uni-co was active in several domains. Of course, as we pointed out in the previous section, Uni-co was not welcome in any of them.
The regulators clearly warned us that Uni-co was not authorized to operate. Here’s the list of countries where this scammer found victims:
What do traders think about Uni-co? We found reviews on PersonalReviews and Sitejabber and all of them are negative.
There are many complaints about withdrawal issues, lies, poor communication, etc. Here’s an example of what traders said about Uni-co:
I have in fact been scammed by this company… I only gave them one account but they were pushing for me to sign up more accounts. kept asking for more money…
Websites like this deserves to be taken down. Why would they feel comfortable ripping innocent people off, and nothing will be done about it? I lost a huge sum to these people, and they did nothing about it…
According to Uni-co’s website, there are three available platforms – PCTrader, WebTrader and MobileTrader. As the names suggest, clients can trade via desktop, mobile or web.
However, there is no demo account so we couldn’t check this mysterious PCTrader but we know for sure that this software is not a legit third-party platform such as MT4, MT5, or cTrader.
As for WebTrader, this kind of platform is usually a lackluster browser-trading terminal with no advanced tools. The mobile trading platform is no different. And the worst thing here is that Uni-co is unregulated and blacklisted.
It seems that Uni-co is not active on social media, at least there are no links on the website. Aside from the aforementioned communication tools, it is possible that Uni-co runs marketing campaigns using Google ads and/or fake reviews.
Here’s an overview of the trading instruments Uni-co used as a ruse to persuade users to invest:
Spreads are variable and depend on the account type. For instance, the Mini account’s spread starts from 1.5 pips. That’s pretty much the industry’s standard.
Only the super-expensive VIP account offers a fixed spread of 1 pip. However, the commissions were not disclosed and if there are hidden fees, it’s a huge problem.
Let’s make a list of Uni-co’s trading account types:
Here’s the issue – the Mini account offers just 34 currency pairs; the Standard account offers only FX trading. If you want all of the instruments, you would need to open a VIP account, which is extremely costly.
As for the max leverage, Uni-co offers 1:100. This leverage is much higher than the regulatory limits in Europe & Australia (1:30) or the US & Canada (1:50). Trading at such as high leverage is risky!
There is no risk-free demo account on Uni-co’s website. But, there is a special code option on the registration page.
It’s not a substitute for a demo account but a way of distinguishing suitable victims. We assume Uni-co sends this code to those it marks as targets!
The Uni-co withdrawal policy states that the available payment methods include:
The minimum deposit is 250 $ but the deposit and withdrawal fees are unknown. Nevertheless, you should not invest in this brokerage. You will undoubtedly experience withdrawal issues.
If you have evidence that Uni-co violated any terms and conditions, please let us know. We will surely report the broker to the authorities and also help you get your money back.
Our experts will gladly guide you through the chargeback process or use CipherTrace to trace your crypto transaction. You must act as quickly as possible so book a consultation with us today!
If this broker steals your money, start the chargeback process. Book a free consultation with us using Online Chat, it’s the easiest and fastest way to get in touch with us!
No. Uni-co is an unregulated scam broker. This entity has been blacklisted by as many as seven financial market regulatory authorities.
No. Uni-co’s platforms are lackluster and ineffective, without offering any advanced features whatsoever.
No. Uni-co does not offer any kind of referral program. There is only a loyalty program that offers bonuses.
No. Uni-co is an unregulated scam broker. This entity has been blacklisted by as many as seven financial market regulatory authorities.
No. Uni-co’s platforms are lackluster and ineffective, without offering any advanced features whatsoever.
No. Uni-co does not offer any kind of referral program. There is only a loyalty program that offers bonuses.
The post Learn the Truth About This Scam In the Uni-co Review appeared first on Global Fraud Protection.
