Uniglobe Markets evaluation
CFD Licenses: None
Headquarters: Marshall Islands
Trust and licenses in Uniglobe Markets
According to the company's website, the company behind the broker is registered in the Marshall Islands with a standard address that we've seen used by countless other brokerages. This screenshot: shows that the company behind the broker is registered as Uniglobe Markets Ltd.
We underline the fact that the Marshall Islands has become the number one destination for potential scammers due to its very liberal laws regarding corporate registration. The government does not even require that someone physically be present in order to register a company. Such a loophole has surely been noticed by many scam brokers and taken advantage of.
However, it is safe to assume that the company behind the broker, regardless of its legality, is not subject to any regulatory oversight because the Marshall Islands government does not include forex trading within its regulatory framework. Mediation also gives reasons to question its legality due to the lack of information on the site and in the terms and conditions. All this, strongly leads us to suspect that potential customers of Uniglobe Markets They may be at great risk.
Uniglobe Markets Trading
Uniglobe Markets provides the MetaTrader 4 trading platform which is something we have always considered an advantage since MT4 is among the number one trading platforms for forex trading at the moment, preferred by nearly 80 percent of users.
The platform offers an advanced charting package, plenty of technical indicators, a comprehensive testing environment and a variety of indicators and expert advisors. Novice traders will find the trading platform easy to use as well, due to its user-friendly design.
With a demo account we can see a spread of 0.3 which is obviously very good and below the industry average, however, we can't help but highlight the fact that no broker can hope to make a profit with very low spreads. It is very likely that this is not really the spread that is being offered but is only used to entice traders to deposit their money.
But perhaps the biggest advantage of the broker is the low minimum deposit of only $100 which is very favorable especially for new traders. This means that the client can open a real account without having to risk a large amount and this in turn acts as an effective trust between the broker and the trader.
Uniglobe Markets Withdrawal and Deposit
Merchants can deposit or withdraw through a wide range of payment methods. The broker supports standard Visa and MasterCard cards as well as popular e-wallets such as Neteller, Skrill, QIWI, WebMoney, Vload, CashU and Perfect Money. We did not find noteworthy provisions in the Terms and Conditions. We also didn't find any withdrawal fees, but that doesn't mean there aren't necessarily any withdrawal fees.
This is why we always advise traders to ask only the minimum required deposit, rather than risking a larger amount without certainty. Then, they may also try to withdraw a small amount to check for any unexpected fees or delays. These fees and delays are usually signs of fraud.