UNFXB Information
UNFXB is an unregulated brokerage company registered in Saint Vincent and the Grenadines. This firm boasts its wide selection of investment options and its popular MT5 platform. UNFXB provides five live trading accounts and multiple customer support options. However, these accounts charge a much higher fee at the lower tier. And limited information about trading fees for metals, indices, stocks, commodities, and cryptocurrencies is another drawback.
Pros and Cons
Is UNFXB Legit？
UNFXB operates without regulation from any recognized financial authority. Engaging with an unregulated broker like UNFXB carries substantial risks, and investors should be aware of the potential consequences before depositing funds.
What Can I Trade on UNFXB？
Just as a diverse diet reduces health threats, spreading money across different investments helps manage risk. UNFXB makes building a diversified portfolio easier with with more than 1400 trading symbols and 300 cryptocurrencies. Your investment options include forex, stocks, commodities, indices, metals, CFD, energy, and cryptocurrencies. If you're looking for ETFs or bond trading, you won't find them here. But overall, you still have a good mix of investment choices.
Account Types
UNFXB has different account tiers that vary based on increasing asset size. If you're interested in investing here, you can open Standard, ECN, ECN Pro, ECN Gold, and Islamic accounts.
Tighter spreads, Lower leverage, more bonus, and higher daily profit share are available as your investment grows. If you invest at least $1,000, you'll increase your bonus up to $100,000 and get spreads from 0.0 pips.
The popular MT5 trading platform is accessible for all tiers. If you are a beginning investor, the Standard account could be a good fit for you as the minimum deposit amount is only $10.
Besides that, this brokerage also provides PAMM, MAM, and copy trading accounts with minimum deposit of $100 and maximum leverage up to 1:200.
UNFXB Fees
Keeping an eye on investment fees matters. The more fees you pay, the more they eat into your returns. With UNFXB, the fees depend on the account types. For example, the spreads are starting from as follows:
- Standard account: 1.5 pips
- ECN account: 0.7 pips
- ECN Pro account: 0.0 pips
- ECN Gold account: 0.0 pips
- Islamic Account: 0.7 pips
Commission for ECN and ECN Gold account are both from $4 per lot. UNFXB offers commission-free forex trading for Standard accounts. But still its spread is much higher compared to other tiers. The maximum leverage for standard accounts seems attrative. However, there is a catch. The leverage of 1:1000 is only available for accounts with a balance of over $2500.
Overall, these accounts charge a higher fee at the lower tier. In addition to this, the spreads for PAMM, MAM, and copy trading accounts are $8 per lot. And regarding trading fees for metals, indices, stocks, commodities, and cryptocurrencies, there is no available information on the website.
Trading Platform
MT5 (MetaTrader 5) is available with UNFXB. You can apply it on multiple devices, including Windows, MAC, Android, and IOS. It is a diversified financial trading platform that allows trading foreign exchange, stocks, and futures. It provides automated trading systems and excellent tools for various price analyses, the use of algorithmic trading applications, and copy trading.
Deposit and Withdrawal
UNFXB provides more than 15 ways to fund your account. The minimum deposit or withdrawal amount is $10. All deposit methods are commission-free and most of the processing time is instant.
All withdrawal requests are processed by the financial department and on broker working days from Monday to Friday. You might want to “cross the ts and dot the is” when you choose withdrawal options, since the cost of different channels is like chalk and cheese. For example, with Western Union, you will lose 5% of the withdrawal amount in the process. At the same time, you can withdrawal through NETELLER with no commission at all. Both methods require the same processing time, which is 6-48 working hours.
Deposit Options
Withdrawal Options
Customer Support Options
For any question you might have, help is available 24/7 by online chat, phone (+448005200072) or email (Support@unfxb.com). You can also dig into their social media channels (Facebook, Youtube, Twitter, etc) or hit a button on an online message box.
The Bottom Line
The main attractions are the wide selection of investments and various trading account types that allow investors to build diversified porfolios very quickly. And its user-friendly platforms and various customer support choices could be selling points for beginning investors. However, the unregulated status and relatively higher fees are the obvious drawbacks. Before choosing a brokerage, remember to consider cost and potential risks.
FAQs
Is UNFXB safe？
UNFXB is not regulated by any reputable financial authority. Before choosing a brokerage, remember to consider the risk involved.
Is UNFXB good for beginners？
No, although UNFXB provides beginning investors with its user-friendly platform, potentical clients should be aware that this firm has no valid regulatory certificates.
Does UNFXB offer leveraged trading？Yes, UNFXB provides a leverage option, which is up to 1:1000.
Risk Warning
Online trading involves considerable risk, so it may not be suitable for every client. Please make sure that you totally understand the risks involved and notice that the information above provided in this review may be subject to alteration owing to the constant updating of the company's services and policies.
