United Markets Capital
The United Markets Capital also called UM Capital, is an offshore forex and CFDs, brokerage provider. The broker situated in Bulgaria and provides six trading accounts. What advantages these six different account types holds is not provided on the broker’s official website. We have several concerns about the broker and in this United Market Capital review, we will discuss all of them. Read the full United Markets review here.
About United Markets Capital:
The broker provides various instruments for trading, which covers several asset classes like FX, indexes, many commodities, valuable metals, stocks and crypto coins. The official website of United Market Capital claims the offered leverage of 1:200 only to the expert traders, but while doing a fact check with login-in, we came across a higher leverage ratio of 1:400. Such a higher leverage level suits all the trading styles. However, it is also on the riskier side for the traders as higher leverage associated with higher risk.
United Markets Capital is the trademark of PM INVEST CONSULT ltd situated in Sofia, Bulgaria. Unfortunately, the Bulgarian Financial Supervision Commission does not regulate this broker. Also, no other EU member’s financial authority is given brokerage license to United Markets Capital. Such type of broker is not eligible to provide brokerage services in the Australian markets. ASIC, an Australian financial regulator, issued a warning against it.
The broker’s official website does not provide valuable information on the provided trading conditions. The offered spread levels are missing, and the broker also does not provide any demo account. Hence, this broker completely misses on transparency and commitment. The available spread on EURO/USD FX pair is at 4.5 pips. The provided spread is higher and increases the cost of trading.
Furthermore, the first four trading account required a minimum deposit of Euro 250, 5000, 10000, 25000. The required deposit for the other two accounts not disclosed. The most popular trading platform MetaTrader is also missing from the offerings of the United Markets Capital. It will be treated as one of the Cons of this broker.
Is United Markets Capital scam or legit?
The broker under investigation is offshore situated. It provides online brokerage facility in many continents. Sadly, the Unite Markets Capital is unregulated and unlicensed. Considering this fact, it provides illegal brokerage facilities. Australian financial regulator ASIC issued a potential scam warning against it. Furthermore, the trading conditions provided by United Markets Capital not disclosed adequately and unattractive. We warn our readers to stay away from potential Australian forex scam brokers.