Universal Forex Trade Review: A Deceitful Company

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Universal Forex Trade Review: A Deceitful Company

Universal Forex Trade is another company to look out for when investing online. Once you open an account, the venture claims you get five risk-free trades. Before starting your trading journey, you should know the market is volatile. The prices keep changing, and you cannot determine the outcome. 

Universal Forex Trade Review, Universal Forex Trade Broker

The company deals with commodities, stocks, metals, indices, and energies. However, there is no trading history. Legitimate forex trading brokers provide audited results. By analyzing their performance, traders can authenticate whether the firms are worth joining. Schemy entities are keen on what they share to avoid exposing themselves.

Universal Forex Trade has been in the market since December 2019. This is enough time for them to be transparent and to win clients’ trust. The domain name will expire in December 2023. Stick with us as we expose the operation of this suspicious company. Review

Universal Forex Trade fails to indicate the qualification of its personnel. It is important to know the people handling your funds. If things go wrong, the authority can help trace them. The company claims it accepts funds via Visa, Mastercard, and Bitcoin. The only way to recover your fund is by choosing the bank card method.

Otherwise, all your cash will be lost. Crypto options limit traders from issuing a chargeback. It’s also a bonus for scammers as they can hide their identity. The venture only has a single account. Traders should have the liberty to choose what entices them the most. 

We also don’t know the trading conditions of Universal Forex Trade. What, then, is the purpose of venturing with the scheme? The least the company could do is to provide leverage and spread information. 

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The information is hidden under the margin section. The data should be easily found on the website. The platform is deliberately exposing investors to risks. Trading with high leverage would either make you win huge returns or make devastating losses. There is no in-between. 

Check out these legitimate forex trading companies. These are companies offering traders the best trading conditions. You can enjoy leverage from 1:30 to 1:50 without exposing yourself to severe risks. The spread is also below 1.5 pips means you will use minimal fees to open trade. 

Contact Details and Customer Support 

The company claims it has enough customer support. They are multilingual and can speak over 30 languages. Their team has also toured over 120 cities. They also treat all their customers equally. The venture office is in New York, USA.

You can reach them via email or messaging them on Whatsapp. We suspect the broker is using a VoIP phone number. Scammers don’t disclose their actual location. Doing so would lead to the authority putting them in the books. 

It is also unwise to share your data with anonymous individuals. They can sell your information to criminals or use it for manipulation. Con artists are only responsive when they need more cash. When you run out of money, they cut all communication. You will be blocked, and emails won’t be responded to. Ensure you deal with genuine investment companies to enjoy quality customer support services. 

Regulation Status of Universal Forex Trade

The broker is allegedly licensed by Australian Security Investment Commission (ASIC) and Cyprus Securities Exchange Commission (CySEC). Unfortunately, the company does not provide the license number. These regulatory bodies are strict and do not authorize any firm to operate in their jurisdiction without proper documentation. Review, Features

The platforms must have working capital. The amount is deposited in their account to prove the firms can successfully run investment services without going bankrupt or misusing customers’ funds. Brokers that meet the above requirement will never ghost their clients. Additionally, in case the entity becomes insolvent, traders are compensated. 

Universal Forex Trade purports it accepts traders from over 197 countries. If this is the case, they should have multiple licenses from various financial watchdogs. Moreover, the scheme leaves out crucial data. How can they be based in the US, yet there are not on the list of regulated companies? 

The National Future Association (NFA) and the Commodities Future Trading Commission (CFTC) oversee investment companies in the USA. The bodies require a capital of $20 million from the platforms. 

They should also operate in full transparency by presenting their daily trading reports. Additionally, the entities should present the names of account managers and the founder. This ensures qualified people are handling traders’ funds. Universal Forex Trade is a dangerous unregulated venture. You are better off without them. 

False Testimonials

Universal Forex Trade features clients’ reviews on the website. All the statements are positive. This does not sit well with us; even the best companies in the market usually have someone not pleased with their services. The reviews shower praises on the broker, indicating it’s one of the best in the market. 

Their profits are also guaranteed. It is a bold claim considering the entity fails to disclose the trading platform it uses or the technique being deployed to earn traders high ROI. Be careful about what you believe when choosing a broker. 

Some scammers will use false testimonials to rule you. It is hard to decipher the info, especially if you are a newbie. These statements seem legit. Some even claim their money helped their families gain financial freedom. 

We recommend you get genuine client feedback from third-party websites. However, smart entities also pay random people to endorse them. Analyze the situation and look for proof of payment. 

Is Universal Forex Trade a genuine Broker?

The simple answer is NO! Universal Forex Trade is a dangerous entity. It’s crucial to do your own research before joining any investment firm. The biggest red flag is the fact the scheme falsely claims to have a license from reputable financial bodies. 

You wouldn’t receive compensation when the broker decides to exit the market. They also promise fixed returns to traders. How are they going to achieve this within a volatile market? Where are their verified trading results? Which mechanism is the broker using? Which trading software is available to customers? Once you ask yourself these tough questions, you can see beneath this scam mask. 

Universal Forex Trade is a bogus broker with empty promises. They do not even have the guts to show their faces to the world. It is important that you know the people handling your hard-earned money. 

There is no segregation of accounts. The company is depositing traders’ funds in their personal accounts. It is easy for them to misuse the cash and face bankruptcy. Your safety should be your main priority. 

Take your sweet time and educate yourself on trading techniques. Also, invest money that you can afford to lose. Trading is risky, and this is what most brokers won’t tell you because they only care about themselves. 

Final Verdict

Universal Forex Trade lacks visible proof it is involved in investment activities. The broker is another waste of time. They will soon exit the market, leaving customers counting their losses. The venture is using every available tactic to try and win your trust. They even have false testimonials. 

Ensure you only trade with regulated forex companies. These are entities operating in full transparency. They also have audited trading results. Their reputation in the industry is great. You can also count on customer support to resolve any issue. 

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