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UFS Market is a Thailand-based forex investment platform with a lot of misleading information. The platform will rip you off and goes by the full name Unicorn Finance Services Market. To add salt to injury, UFSMarket claims to have regulation from the NFA. There’s no way an American regulatory body can regulate Thailand’s forex platform on earth. The Bank of Thailand (Bot) is the official regulator of all forex platforms in Thailand. Learn more in our exclusive UFS MARKET REVIEW.
Judging by the homepage appearance, we can straightaway tell you that these are far from professionals. The green and black themes don’t go well with forex trading platforms. That apart, navigation is also a problem to contend with.
UFS Market tries to appeal to investors from the greater American region. It tries to attract Thailand investors and traders living in the States. By doing so, the platform has been ripping these investors without much thought.
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For those who’ve signed up with ufsmarket.com, we can only feel sorry for them. Most investors are losing every day as the platform blocks withdrawal attempts. Withdrawing funds from the store will be your biggest obstacle.
There’s nothing to write home about when it comes to their background and history. But, unfortunately, we don’t have much to go on with their mission and objective. So instead, we have a platform selling derivatives and trap investors.
Before joining any investment platform, we recommend doing some due diligence. First, try and find out what platform works and which one doesn’t. Then, get to hear the experiences of other users before committing funds to the platform.
UFS Market offers two trading accounts, standard, and zero spread accounts. The platform claims to offer the most advanced trading structure. Therefore, we have to take a closer look at each of these accounts.
For the standard account holder, you must deposit a minimum deposit of $1. It sounds fair, but the platform will insist on a higher amount. According to support, the more you deposit, the higher your chances of winning.
With the zero spread account, things are totally different. You have to make an initial minimum deposit of $3,000. The maximum leverage on both these accounts is 1:500. Clearly, the platform doesn’t follow NFA’s structure on leverage.
We have to point out the glaring red flags regarding account features. The leverage is the main taking point. Regulators in the United States put a cap on leverage at 1:100. Any platform with higher leverage is putting your funds at risk.
The platform stands to gain more when you lose trades with high leverage. So in most cases, the platform will be the main beneficiary of trading. And this is why regulators had to step in and protect investors and traders.
There are several affiliates and promotional activities taking place on the platform. These include a grand prize at the end of each month. You also get an affiliate program where members earn a commission.
We later learn that the platform fails to release commissions to investors. You will likely lose your reputation after directing investors into a lost cause. These investors will point the blame at you for leading them to a faulty platform.
Ufsmarket.com takes advantage of your connections and fails to release commissions. As a result, in the eyes of the law, you are an accessory to online fraud. You need to stay away from this platform or risk losing everything.
The platform says little about the available trading instruments. From what we can see, the platform mainly deals with four classes of trading instruments. These include commodities, forex, indices, and stocks.
You get to trade your everyday household commodities such as coffee, wheat, sugar, and more. The platform quotes spread starting from 0.5 pips and a maximum of 1.5 pips. These spreads cover all trading assets.
Forex trading happens to be the core of the platform’s activities. Unfortunately, investors fail to note which forex pairs to expect. You have to sign up first to note that the platform only avails of major currency pairs.
Indices available ensure you get to trade with international markets. These markets include DAX, Dow Jones, FTSE, Nikkei, NYSE, and more. In addition, it gives you an idea of how the world market takes shape.
Stock trading happens to be one of the biggest trading activities. This is because you get to trade stocks from major companies worldwide. In this case, UFS Market is offering stocks from the FAANG group.
Despite claiming to offer bonuses at the end of the month, it’s just a roost to make you sign up. Regulators are against platforms that offer bonuses. Instead, these platforms will hold your account for ransom.
The platform will insist that you have to pay back in full the amount of the deposit balance. And this leads to investors failing to withdraw funds when needed. That’s the reason why regulators ban bonuses.
Despite posting an LLC business registry, it doesn’t exist. UFS Market is using false business registry documents. These are random numbers with no documents to prove. What we have is an anonymous trading platform.
There’s no business registry of the platform in Thailand or the United States. It shows the level of uncertainty investors will likely face with the platform. And this is why you have to stay away from the platform.
You won’t get the much-needed support you need in such an eventuality. The platform fails to offer live chat support. Instead, a phone number on the homepage rarely goes through. The platform uses this number to contact members and urge them to deposit more.
We strongly believe the platform is trying to control all communication channels. You can’t reach them but, they can reach you with ease. It’s why the phone number doesn’t go through when you call. The platform limits communication to emails only.
Funding accounts is made easy thanks to several depository channels. In addition, you can deposit funds via bank and wire transfers. Unfortunately, the platform doesn’t accept crypto payments as funding accounts.
There’s no need for you to deposit funds with the platform. You will trade and, lastly, fail to withdraw your earnings. That’s where most traders get stuck with the platform. We recommend you stay away from ufsmarket.com.
Your funds are far from safe with a platform that fails to offer insurance cover. In addition, once you deposit funds, there’s no regulator to protect your interest. We also suspect the platform fails to segregate accounts.
UFSMarket doesn’t deposit the minimum required amount with regulators to start trading. The amount in most cases covers members from unforeseen problems such as bankruptcy or insolvency.
UFS Market is far from being a properly regulated platform. Therefore, you need to avoid such platforms as they rarely have your interest at heart. In addition, the platform is using false registration details, which is a fraudulent activity.
We strongly recommend that you stay away from ufsmarket.com.
Go for proven investment platforms such as Coin Staking, DeFi, and Masternoding. It’s a proven way of investing in the markets.
Feel free to drop a comment or email us with any queries.
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