UNFXB, a.k.a. Unicorn Forex Broker, claims authorization in various countries. Furthermore, their slogan is “invest for a successful future.” Yet, all you can succeed in is losing your hard-earned money.
Read our detailed UNFXB review to find out how this broker is deceiving you.
Despite false claims, UNFXB regulation is nowhere to be found. The company is owned by UNFXB Ltd, registered in October 2021 in Saint Vincent and the Grenadines. However, it’s well-known that this island doesn’t issue Forex licenses but directs brokers to opt for a license in the country of service.
UNFXB broker listed the licenses from Australian ASIC, Canadian NFA, Mauritius, Cyprus, SVG, and Afghanistan. However, here’s the thing. ASIC has no records of the said firm, while the official regulator in Canada is IIROC, not NFA. Furthermore, the company has its registration in Cyprus but doesn’t have a valid license. In the end, we didn’t find the regulation in Afghanistan either, so we can safely conclude this broker is unauthorized.
Fraudulent companies use many tactics to lure you into investing. Don’t fall for them. Report any suspicious activity immediately.
UNFXB is a trading brokerage registered offshore. The company claims to hold six regulations, none of which could be confirmed. Be wary of this financial intermediary.
According to our research, UNXFB mainly provides its services in the following countries:
We surely won’t complain about the UNFXB trading platform. The company offers MT5, the latest and best version of MetaTrader. With it, you can access numerous charts, indicators, and advanced tools. MT5 supports social trading, Expert Advisors, and more.
However, a good platform doesn’t worth much without regulation. If you lose your money, you have nowhere to complain, and the brokerage can simply disappear with your entire investment. Keep this in mind when choosing a trading intermediary.
You can use MT5 mobile app on any Android or iOS device. That’s a good side of working with renowned software. You can quickly log in to your account, monitor trades and react promptly to any abrupt market changes.
This company brings five asset categories for trading:
According to the table of accounts, the spread starts from 0.0 to 1.6 pips. It’s pretty solid. The commission is not mentioned. As per swap, there are no swaps on Forex and metal trading, while all other assets are subject to overnight fee charges.
There are three groups of UNFXB account types, those being:
Full chart accounts:
These are standard accounts with spreads and leverage. Note that the leverage ranges from 1:400 to 1:1000, despite all regulatory limits.
Crypto special:
As the name suggests, these accounts enable crypto trading. Your deposit is made via crypto, more precisely USDT, which is pegged to USD.
PAMM/MAM/Copy Trade
Finally, these accounts enable investing in a higher pool where the account manager is running the trades and taking a commission. As per the last one, you’re entitled to copy trades of other, more experienced investors and earn through their work.
You can use the UNFXB Demo account to test the MT5 terminal. Additionally, the minimum deposit is $10, which is quite convenient.
UNFXB surely did due diligence and created an appearance of a legitimate broker. Don’t let it deceive you. It’s still an unregulated brokerage firm, and you cannot get reimbursed from authorities in case of any issues.
Here’s the list of viable payment options for UNFXB withdrawal, along with commissions:
It’s a rather odd list, showing that the company focuses on countries like Iran, Canada, and Afghanistan. Furthermore, trading companies usually don’t accept money paid through Western Union as you have no guarantees these funds will be deposited into your account. For the same reason, they don’t allow withdrawals through this method.
In case of any trouble with your UNFXB account, let us know. Global Fraud Protection has a team of dedicated chargeback experts and CipherTrace crypto specialists ready to assist.
Don’t give up on your hard-earned money. Book a free consultation with us, and let us honestly evaluate your case and tell you what chances you have to recover what’s rightfully yours!
UNFXB is not a legitimate broker. If you have already invested and have any trouble, let us know, and we might be able to help.
Yes, UNXFB offers a risk-free Demo account on the MT5 terminal.
Since the broker is not regulated, your funds are unsafe with UNXFB.
UNFXB is not a legitimate broker. If you have already invested and have any trouble, let us know, and we might be able to help.
Yes, UNXFB offers a risk-free Demo account on the MT5 terminal.
Since the broker is not regulated, your funds are unsafe with UNXFB.
The post UNFXB Review 2023 – The Reality of Alleged Regulations appeared first on Global Fraud Protection.
