Warning! UCI-Limited is an offshore company! Your deposit may be at risk.
RECOMMENDED FOREX BROKERS
For a monent UCI-Limited had us, with its perfect interface and clean visuals, but we’ve been long enough in this business to know when and how to spot an imposter.
This is one of those brokers on which the further you dig, the more things get bad. First of, there is no clear registration button; we ha to look for it, an aspect immediately making this broker unprofessional. Second, with all the information and bland text, there was not once a mention of a regulation or a license, meaning that UCI-Limited is UNLICENSED.
We strongly advise traders to trade only with regulated brokers that hold a license from renowned and severe institutions such as the FCA or CySEC. Not only do these agencies oversee operations and require regular reports from brokers registered with them, but those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC)
Once we registered, the trading platform gave us a EUR/USD spread of 0.5 pips, a very good value. However, there is no mention of a leverage value.
The languages that one can access the website is are English, German, and Spanish.
UCI-Limited has adapted MT4 as its primary platform. As a leading trading platform, MT4 has become a household name by offering some great features: micro lots, automated trading bots, 500 individual orders per account, VPSs (Virtual Private Servers), customizable trading indicators, and much more. The broker has included numerous add-on features that add an extra layer of immersion.
UCI-LIMITED MINIMUM DEPOSIT
According to the client dashboard, the wayS to deposit are via bitcoin – which is the payment method of choice for most illicit brokers, since payments via bitcoin are untraceable – and wire tarnsfer. The minimum deposit is $100.
Due to the broker’s lack of any regulation, we advise against depositing any amount whatsoever. If traders wish to invest in online forex, they will find that any FCA/CySEC regulated broker will surely do. These agencies are at the top of their game, demanding a strict conduct from brokers, and requiring regular reports on their activities.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
It may or may not happen, but if an unregulated broker asks you to install AnyDesk or TeamViewer and give them log in details, consider yourself very open to a complete drainage of your funds from all your online accounts. These software allow for anyone to access your PC from another station and go through all your files and vital information, including credit card, bank and alternative payment method details. Thankfully, these platforms are completely legal and will need your own personal approval in order to be used.
UCI-LIMITED WITHDRAWAL TIME AND FEES
Nimble Markets has no info concerning withdrawals. We scoured through the website, and were unable to find any details. Only the client area gave us one information: withdrawals are made via bitcoin, which as mentioned, is an untraceable source of money, and thus very unreliable, especially for unregulated brokerage firms. The other method of withdrawing is Wire Transfer. There are no withdrawal fees indicated.
ADDITIONAL FEES AND TAXES
Users who use a bonus will have to trade a minimum trading volume of 5000 times the amount he/she has funded her/his account with plus the amount of bonus received. This is totaly unacceptable, and makes using a bonus quite unnecessary.
Unregulated brokers do not care who you are and what your situation is; all they see is money, and they will trick you into giving it to them every chance they get. It is only logical then, that any attempt at withdrawing will be unsuccessful. The most popular excuses for denying your withdraw requests are usually smart and for the most part scripted. These include but are not limited to loopholes in the T/C, asking for more deposits in order to withdraw, or just prolonging your pending withdrawal by claiming that the market will suddenly propel, multiplying your winnings by unrealistic proportions.
We strictly advise against giving away an ID and proof address to unregulated brokers: they can be literally anyone with enough time and skill to mask themselves as a broker. Usually, these individuals use the anti-money laundering legislation as front for when traders start to get suspicious. Once this suspicion is confirmed and you file for a charge back, they will use your details against you case.
We are positive that this so called broker will not return your funds; the evidence we have laid out before you work in sync against it. The sound thing to do is to direct your attention and investment to an FCA or CySEC licensed broker where the law is integrated in every aspect of their operations.
HOW TO RECOVER
Filing for a charge back is the best advice we could give you. Immediately contact your bank or credit card company and lay out the circumstances.
Cancel your credit card if you have shared any notable details with the fraudulent broker, especially if you have provided them with the card’s CVV code. If such is the case, annul your credit card ASAP.
Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.
The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!
Uci Limited is a well hidden unregulated broker that will trick some. Please do not invest in it if you cherish your funds.