UBCFX Review (2023)

Is UBCFX a scam or a legit broker?

It is not safe to trade with UBCFX as it is an offshore unregulated broker. UBCFX is owned and operated by the United Ventures LTD, registered in the St. Vincent and the Grenadines. 

However, the fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements to the company operation. That means, the broker is not regulated, not overseen and does not comply with strict international rules that provide protective measures to the traders. Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, AAG Markets and more. Read more about St. Vincent and the Grenadines regulation by the link.

What is UBCFX?

UBCFX is a global online forex broker, which offers some of the tightest spreads in the market for forex trading, through its innovative and user-friendly trading platforms. The broker promises easy access to profits and trading itself through a diversified range of trading instruments and innovative software. It also offers its traders interactive courses for learning trading strategies, 24/5 customer support service and end-to-end execution with some of the world’s premier banks/financial institutions.

Is UBCFX regulated?

UBCFX is a trading name of the company incorporated in Saint Vincent and the Grenadines, which is an offshore zone with no implemented regulation for Forex business.

In regards to the company background, in order to establish a business in SVG, the company should just register firm with a very small capital and then to perform business in a way they see it right. That means that UBCFX delivers financial trading service with no supervision of international authority, there are no operational standards implemented or not regulated by the entity.

UBCFX in India

UBCFX allows Indian traders to open accounts and trade. However, UBCFX has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading is actually prohibited in India. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here.

UBCFX in the USA

The United States is one of the countries that is not accepted by UBCFX. As per the U.S law, brokers regulated by CFTC are the only brokers allowed for the USA traders. So, except for UBCFX, you are only permitted to trade with the U.S regulated platforms.

Deposits and Withdrawals

UBCFX offers a wide range of secure online payment options for deposits and withdrawals, making funding easy, fast, and secure. UBCFX covers all fees for Deposit. Traders can deposit with Credit/Debit Cards, NETeller, Skrill, DixiCard, Interac, Bpay and Wire Transfer. 

Apps

The MetaTrader 5 platform (Find out MetaTrader 5 brokers here) integrates a broad variety of assets and financial instruments. Its broad functionality allows for the implementation of multiple investment strategies at current market prices, supports pending orders with a present lifetime, and boasts compatibility with various analytical instruments such as Elliot tools, Fibonacci and Gann.

The MetaTrader 5 custom trading app condenses the core features of the desktop platform into a simple and user-friendly smartphone interface. Trade on the go in your iOS or Android device and access current price quotes, analyze data with customizable candlestick and line graphs with the tap of a finger.

Demo Account

UBCFX also offers a demo account.The Demo Account is provided to give traders a demonstration of the broker’s trading platform and to offer traders the opportunity to trade on simulated real trading conditions. This further allows the trader to gain more experience prior to trading with real funds and facing actual risk. Traders may test their trading strategies and become familiar with the trading platform at their own pace.

Conclusion

Even though the trading offering might seem attractive, in our opinion, you may find something more interesting among the regulated brokers. But an offshore status of the company does not guarantee the provision of services at the necessary level of client and funds protection. For that reason, we would advise choosing the broker more carefully and check on at the first step the broker’s regulation status. The reputable firms that hold FCA, FINMA or other licenses are established in accordance to the international standards, protecting clients at every step and even compensating the trader in case if the things go wrong with the company. So of course, we always advise only regulated firms to trade with, as the market trading business with its decentralized nature, unfortunately, attracts many scammers, and the trader should carefully check where to invest money and trade.

Yet, it is always great to hear your personal opinion about UBCFX. So you may share your experience or thoughts or discuss them below or ask us for additional information.