UBFX Review: Bane Forex Scam

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UBFX Review: Bane Forex Scam

UBFX ( is another cruel platform to hit the lucrative trading world. UB FX is claiming to offer Bullion, CFD, and Forex trading to anyone who is interested. They are purporting to offer copy trading to newbies as a way to help them make money. Before you sign up, there are a few details you need to know. By reading this detailed UBFX Review, you will get the whole truth.

UBFX Review

Pros of using automated trading robots

Have you heard of automated trading? For those that have, they know too well the benefits of trading with automated robots.

  • Ease of use

These are some of the best trading robots to use even for newbies. With an engaging interface, traders get the chance to indulge more with the platform.

You get guidelines and tutorials on how best to use the robots and take advantage of the market by simple click trading.

  • Fast execution of trades

The right robot ensures you enjoy fast execution of trades with ease. These robots offer a much-needed speed when executing trades.

You get a trading platform that ensures you have what it takes when engaging with the markets and isn’t slow to make decisions.

Try SMARD today, it is a bot designed for crypto traders and investors which uses advanced algorithms to profit from market fluctuations. No programming or trading knowledge is required to start. The algorithm relies on momentum effect strategies to systematically identify market winners. Below are the key reasons why everyone loves    1. You get up to 5% average monthly return on your starting capital.    2. The 10% monthly service fee is charged from your profits only. They don't make money unless you do!      3. You can start with as little as $1000 in your exchange account, meaning that you just need to connect your existing exchange (or open a new one) with Smard and begin trading right away!    4. No upfront payments for the service.    5. It's a smart way of investing in your favourite crypto coins - btc/altcoins, hurdling them while at the same time growing their values through auto-trading instead of just buy and forget.   Operating through API keys, SMARD ensures secure connections without requiring fund transfers to third parties. No upfront payment or card linking is needed. Try Smard today and see the real potential of your crypto portfolio, no upfront fees to pay!

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  • Efficient trading

Based on the parameters used by the trader, the robots will act and trade efficiently using set strategies and styles.

And this ensures every trader can take advantage of the market by infusing their preferred settings such as leverage and spreads.

  • Trading using best several styles

You also get to trade with other styles provided by experienced traders who are also using the same robot.

Copy trading is one of the best ways to learn trading as it helps investors generate more in terms of revenue and following actual experts on the front seat.

  • Customer support

The highlighted trading robots offer 24/7 support that offers much in terms of reliability and support.

Go for robots that will be there when you need help no matter the time zone. That’s why we highly recommend these robots.

  • High performance

Another reason to go for these robots is the high performance they bring to the table. Tests indicate most of the listed robots hit over 88 percent in ROI.

And these are trades that offer investors the much needed help for trading.

UBFX Review

After receiving quiet a number of email complaints from members, we deduced trouble was brewing. And this is why we conducted a thorough review to ensure our readers are made aware of this scam. Why do investors sign up with scam brokers in the first place? Scam artists know how to use empty claims and promises to lure unsuspecting investors. UBFX is no different as they have used copy trading as one of the many over the moon claims. There is more to this broker than they let known.

Scam artists have perfected the art of cloning websites to lure investors to sign up. UB FX is using the same tricks to create an enticing website. At first glance, everything looks legit and is what these scam artists want users to see. Thanks to our years of trading experience, we know how to spot a scam from a mile away. These scam artists are using the same tricks which we must expose for everyone to see. Before opening an account, make sure to read this entire review.

About UBFX

According to the disclaimer at the footer of the homepage, this website is owned by Financial Managers Group. A search conducted on various company registrars shows no details of this company. These scam artists have used a random company name to try and feign ownership. The real company Financial Managers Group deals with business and property management. We are sure these scam artists are using a legit company’s name to ride on their reputation. Such a scam trick used all over.

They also have claimed to be owned by Financial Managers Co. which is based in Vanuatu. By posting two different company names, we have proof they are a scam. No two different companies can own one brokerage firm. In fact, these scam artists are totally anonymous and based offshore. Stay away from offshore brokers as they have proven to be untrustworthy when it comes to transparency.

Is UBFX Licensed or registered?

Another shocking observation is they have failed to post their license number for users to see. Only number posted is what they claim to be a registration number in Vanuatu. These scam artists know for a fact most investors won’t bother confirming the registration details. To most investors, these are just numbers, to us, they represent authenticity. We simply had to check with various regulatory bodies for confirmation. These bodies included ASIC, COSNOB, CySEC, FCA, NFA, and SEC.

It became apparently clear UBFX is not licensed or registered to conduct any Forex trading activities. These scam artists have openly being trading with no valid authorization. They are breaking set industry rules since they haven’t passed required tests. Have they deposited enough money to cover deposits? A true broker will have to deposit over $20,000,000 in order to have a license from the SEC.

Features of UBFX/ Advantages

After checking their entire website, we could not find any notable advantage. What we found was some disturbing facts such as lack of proper security feature. How can a broker fail to protect their website? UB FX lacks the most basic of security features making their platform an easy target for hackers. These rates never change, even after a week or two, it is proof they are a scam.

Disadvantages of UBFX

Accounts Offered

UBFX Account Types

UBFX is furnishing users with four different account types to choose from. These account types include Standard, Islam, Corporate, and Raw spread account. If you look closely at the account features, they are almost identical. Why would an investor deposit $50,000 and get same advantages as one who deposits $500? These scam artists are clearly targeting all investors with their account trap. They want investors to simply deposit any amount without having a second thought.

Demo Account

Another perturbing issue with UBFX is using a rigged demo account. These scam artists have rigged their demo account to produce insane profit margins. Remember a demo account uses virtual money which is not real, it allows scam artists to rig results.

Deposit and Withdrawal

These scam artists have gone a step further by claiming to issue withdrawals after five days. Depositing funds is easy and quick as expected; they want users to have an easy time depositing. Withdrawing funds is what makes UBFX a scam. None of the members have been able to withdraw funds with this platform. Withdrawal requests go unanswered and in most cases, they block accounts. Imagine having your account blocked or closed with a reflecting balance of $50,000?

Trading Platform

UBFX is providing users with MT4 trading platform. To find out whether their platform is compatible to various devices, we decided to download. And this is where we noticed another huge flaw. UB FX has an unstable platform. It wouldn’t be the first time an unstable platform has exposed investors to huge security risks.

Unresponsive Support team

They may have a live chat which is not helpful. Having bot service as chat does not help answer vital questions. Another issue is when sending emails asking for withdrawal requests. UB FX is closing accounts which send withdrawal requests using emails. Is this a way of stealing from members? We believe it is as members have a right to ask for withdrawals.

Are funds safe with UBFX?

How can funds be safe with a broker who lacks proper DDoS protection? Why have they failed to mention how they handle funds? Which institution do they use to bank funds from investors?  UBFX is merging assets in one account which is extremely risky. These scam artists won’t compensate members in case bankruptcy or insolvency sets in.

Is UBFX a Scam?

Evidence clearly shows UBFX is a scam. Joining any of their affiliate programs is also risky. Mark all their emails as spam and ignore their promotional videos.


UBFX Trading Platform

To protect newbies and readers, we will be adding this broker to our scam blacklist. These are professional scam artists targeting unsuspecting investors. Exposing them will help keep the good Forex trading name safe.

Wishing all investors a prosperous trading period.

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