UniCapitals Review: Forex and CFDs Broker a Scam? - Topedgefx.com

UniCapitals Review: Forex and CFDs Broker a Scam?

Welcome to the UniCapitals review. UniCapitals is an offshore broker claiming to operate out of Belgium but are not regulated by the FSMA or any other financial watchdog.

UniCapitals claims to be an MT4 broker offering Forex, Metals, Energy, Indices, Commodities and CFD shares.

The official website of this broker can be found at uni-capitals.com but should not be confuse with another broker with a similar name whose website can be found at unicapital-inc.com.

UniCapitals also claims that their service is for consumers who want to trade in the stock exchange market without risk. Practically speaking, this is impossible.

Also, their “getting started” process involves opening an account, choosing a base currency, making forecast on whether price of asset will rise or fall before one can get a specific percentage of the winnings.

This is typically how binary options brokers work. We don’t expect Forex traders to make deals similar to this type of trading.

UniCapitals review broker

Apart from this, UniCapitals broker also claims that they have reliable support, reliable payment means and trusted management.

Their marketing materials claim that the team of people running this company are market leaders and experts in the financial markets.

However, according to who.is, the domain Uni-capitals.com was launched in February 2020. This shows that whoever is running this business is quite new to the brokerage business.

They don’t have any reputation in this industry yet and above all, there’s a risk of clients losing their money because new brokers tend to be unreliable.

Thankfully, our Uni Capital review will provide you with the exact details and summary of what you need to know to decide whether or not this broker is a viable solution for your trading.

UniCapitals Review

The footer of their website claims that Uni Capitals broker is the property of a corporation known as NIO Markets Ltd.

This is a St. Vincent and the Grenadines based company, which begs the question of what the company has to do with a brokerage associated with a Belgian jurisdiction.

Support can be contacted through email (support@uni-capitals.com) or by phone (+44 800 060 8702).

No chat support is provided by the broker. Also, UniCapitals provides the fewest details in their promotion material.

They also don’t appear to offer any demo accounts for practice trading on their website.

This is a very bad thing because if a broker doesn’t offer MT4 demo (like every other MT4 broker does), then they’re essentially denying traders the chance to test their trading conditions.

There are 4 different live accounts which clients can choose from. Details are as follows:

Standard account

Min Deposit: $ 250-4 999

  • SPREADS:Fixed – Extra low
  • TRADING INSTRUMENTS:Forex, Metals, Energy, Indices, Commodities, and CFD Shares
  • TRADING PLATFORMS:Forex and CFDs, MT4, MT4 Android, MT4 iPhone, MT4 Ipad, Web
  • EXECUTION:Market Execution
  • MINIMUM TRADE SIZE:0.01 LOT
  • MAXIMUM TRADE SIZE:40 LOT
  • ACCOUNT CURRENCY:USD, EUR
  • STOP OUT LEVEL:2%
  • ISLAMIC ACCOUNT:No
  • NO COMMISSIONS

 

Gold account

Min Deposit: $ 5 000-9 999

  • MAXIMUM LEVERAGE:1:200
  • SPREADS:Fixed – Extra low
  • TRADING INSTRUMENTS:Forex, Metals, Energy, Indices, Commodities, and CFD Shares
  • TRADING PLATFORMS:Forex and CFDs, MT4, MT4 Android, MT4 iPhone, MT4 Ipad, Web
  • EXECUTION:Market Execution
  • MINIMUM TRADE SIZE:0.01 LOT
  • MAXIMUM TRADE SIZE:40 LOT
  • ACCOUNT CURRENCY:USD, EUR
  • STOP OUT LEVEL:2%
  • ISLAMIC ACCOUNT:No
  • NO COMMISSIONS
  • Work with personal expert

 

Business Account

Min Deposit: $ 10 000-49 999

  • MAXIMUM LEVERAGE:1:400
  • SPREADS:Float – Extra low
  • TRADING INSTRUMENTS:Forex, Metals, Energy, Indices, Commodities, and CFD Shares
  • TRADING PLATFORMS:Forex and CFDs, MT4, MT4 Android, MT4 iPhone, MT4 Ipad, Web
  • EXECUTION:Market Execution
  • MINIMUM TRADE SIZE:0.01 LOT
  • MAXIMUM TRADE SIZE:150 LOT
  • ACCOUNT CURRENCY:USD, EUR
  • STOP OUT LEVEL:2%
  • ISLAMIC ACCOUNT:Yes
  • NO COMMISSIONS
  • Work with personal expert
  • Work with investment portfolio

 

Premium Account

Min Deposit: $50,000+

  • MAXIMUM LEVERAGE:1:300
  • SPREADS:Fixed – Extra low
  • TRADING INSTRUMENTS:Forex, Metals, Energy, Indices, Commodities, and CFD Shares
  • TRADING PLATFORMS:Forex and CFDs, MT4, MT4 Android, MT4 iPhone, MT4 Ipad, Web
  • EXECUTION:Market Execution
  • MINIMUM TRADE SIZE:0.01 LOT
  • MAXIMUM TRADE SIZE:80 LOT
  • ACCOUNT CURRENCY:USD, EUR
  • STOP OUT LEVEL:2%
  • ISLAMIC ACCOUNT:No
  • NO COMMISSIONS
  • Work with personal expert
  • Work with investment portfolio

From the features of their live trading accounts, we can see that UniCapitals is offering generous leverage although information about spreads is not crystal clear.

Uni-Capitals broker Review: why we don’t recommend trading with them

While their generous leverage appears to be an advantage, this is actually not a reason to choose UniCapitals.

As a matter of fact, most MT4 brokers now offer generous leverage in addition to a bunch of features that traders can enjoy.

The first reason why we’re against recommending or trading with UniCapitals is that they’re not willing to disclose their spreads.

Instead of providing a demo so we can test or publishing live spreads on their website, they use a vague statement such as “Fixed, Extra-low”.

What does this supposed to mean?

Secondly, UniCapitals is not a regulated broker and in this case, they’re operating like CoinShield Limited (another scam) which intends to persuade traders to deposit money so they can frustrate them when it comes to cashing out.

They also claim that Uni Capitals is offering market execution. We cannot verify this claim because the broker wants us to deposit money first before we can test their trading conditions.

We don’t work like this when reviewing brokers. We will only go to this length after testing a broker’s demo.

Thirdly, if they are unregulated, it means traders who deposit money stand a chance to lose their money plus there will be no insurance compensation if the broker goes under.

That is why we advice traders to always stick to regulated brokers as opposed to Uni Capitals or brokers operating from an offshore location with weak regulations.

Conclusion

We’re not even sure if Uni Capitals is a true Forex broker. We just have to give them the benefit of doubt based on the account features listed on their website.

Uni-Capitals.com is of course not regulated and their choice of setting up office in an offshore location says a lot about their intention.

They’re probably a white label and this is a big problem because most Forex brokers purchasing white label products from others are never independently regulated.

The bottom line is that we’re not going to recommend Uni Capitals broker. Thanks for reading our UniCapitals review.

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