August 13, 2020

Universe Markets FX Review

Overview:

The foreign exchange and CFDs brokerage provider Universe Markets FX has more than 50 fx pairs. It also promises to trade on the MetaTrader trading platform. This broker provides the only ultimate trading account. However, the broker is not authorized to provide a trading facility. In this Universe Markets FX review, we will give you an in-depth analysis of this broker. So don’t miss any word written below.

About Universe Markets FX:

As mentioned earlier the broker Universe Markets FX has only one trading account called Standard that requires an initial investment of $250 only. The maximum leverage offered on the Standard account is as high as 1:300 and the spreads offered are at 2 pips. To make this particular review non-partisan and distinctive we will shed light on the probable pros and cons of Universe Markets FX.

The broker offers more than fifty foreign exchange pairs and CFDs over crypto coins, commodities, shares, oil, gases, and more. All the major cryptocurrencies are included in the product portfolio. The high leverage of 1:300 is very appealing to most of the traders. However, traders must understand the high risk of such leverages. The broker also supports the MetaTrader trading platform that has unique features like Expert Advice, Charts, Indicators, Multi-Account Management System, are few to say. The payments at Universe Markets FX accepted by all card types across the world. It also accepts payments via bank wire transfer, Sadly e-wallets are not provided. The customer support is available in most of the EU languages.

Nevertheless, the broker is the property of White Square Trading Limited an organization situated in the United Kingdom. The United Kingdom is a strictly regulated trading market and the broker operational from here must be regulated and licensed by the local financial body Financial Conduct Authority. Unfortunately, the broker Universe Markets FX is not regulated by FCA. Furthermore, FCA has issued a scam warning against it. And it is a big red flag.

The advertised trading condition does not match with the trading conditions we saw on the demo account. The trading conditions were higher than advertised.

Is Universe Markets FX scam or legit?

The broker is operational from the UK, a highly regulated marketplace but the broker is not regulated by FCA. Trading conditions are falsely advertised. And scam warning is a red flag. Hence, we claim Universe Markets FX is a potential Australian trading scam.