Warning! UniversalFXMarket.com is an offshore company! Your deposit may be at risk.
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UniversalFXMarket.com is the typical templated scammer broker, if we ever saw one. We cannot get this one get away because it will cause utter chaos, although there are signs that the website will probably collapse due to lack of upkeep…Nevertheless, it's important to heed our warning contained in the review because UniversalFXMarket.com still posses a risk to all!
Forget about any solid details concerning a license or a regulation; there is nothing set in stone. Yes, the home page claims 3 licenses from ASIC, the FCA, and the FSCA but it's hard to take these claims seriously when there is a complete lack of supporting evidence. None of the aforementioned regulators recognize UniversalFXMarket.com on their websites, and even the broker itself leaves too much to the imagination. There is no doubt that the company lies about being regulated by all of these agencies.
Another most subtle sing that UniversalFXMarket.com is ultimately unregulated is the abundance of filler text that we constantly stumbled on. It was all the default lorem ipsum filler text template, and it was to be found everywhere; in all subpages and under most sub-titles. This tells us that the broker has been too lazy in creating its own lies.
We cannot take UniversalFXMarket.com seriously, and have actually no idea of where and how this one popped up. Essentially, the company is anonymous, making it a considerable risk to all; all investments will be untraceable, and you never know who sits behind the other computer screen.
Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).
We went to register an account only to be faced with an unresponsive registration button; clicking it doesn't change a thing. So, there was no way to open an account; either there the broker reserves this feature for those promising to invest, or UniversalFXMarket.com has started falling apart.
From the website, we learn that that the leverage cap is 1:500, while the available, allegedly, tradeable assets are shares, forex currency pairs, indices, and commodities. The supposed 0.2 pips spread for the EUR/USD pair mosst certainly does not apply since this low a spread usually has either a commission or has been manipulated to seem lucrative; trust us on this. Many scammer brokers do this.
UNIVERSALFXMARKET.COM LOGIN
We believe that there is no trading software here. There are two main arguments for this.
First of all, there were no available downloads or access links on the site. The compnay claims to offer a platform but utterly fails to deliver on these promises.
And second, the access to a user area was blocked, and so we cannot know if there exists a web trader within it.
This leaves us with no other choice but to conclude that there is no trading software; and even if there was, UniversalFXMarket.com would still be a risk to all.
UNIVERSALFXMARKET.COM MINIMUM DEPOSIT
We were not expecting to be completely left out of the picture with the depositing details, but here we are. Usually, even unlicensed brokers tend to offer some payment insight, but UniversalFXMarket.com has chosen to withhold this information for reason unknown. Scheming brokers tend to lie on their sites about these conditions, but not to talk about it at all is confusing for sure.
All we know from previous reviews is that the most preferred payment methods are crypto related because they are untraceable.
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
Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.
UNIVERSALFXMARKET.COM WITHDRAW TIME AND FEES
Last but not least, withdrawal details, lack thereof. That's right, UniversalFXMarket.com is one of those brokers that has no withdrawal information on its website. But is it really a surprise?
This broker has proven again and again how untrustworthy it it. Time and time again we warn you; here we have evidence that withdrawals won't be possible.
ACCOUNT VERIFICATION
Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.
Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.
HOW TO RECOVER
The most sound advice we could give you is to immediately file for a chargeback with you credit card company.
If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.
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!
BOTTOM LINE
Need you more details about the illegitimacy of the broker? We didn't think so. Just make sure to stay clear from this unlicensed entity.