UOBE FX is a forex broker registered in the United Kingdom in June 2023, primarily offering investors financial trading services in forex, indices, precious metals, energy, and cryptocurrencies. UOBE FX, headquartered in London, supports the opening of real and demo accounts, claiming to offer competitive spreads.
Corporate Background and Regulatory Status:
The corporate entity of UOBE FX is UOBE FX GLOBAL LIMITED, which claims to be regulated in the United States with a FinCEN MSB (Money Services Business) license.
UOBE FX's official website does not disclose the FinCEN MSB number, and no regulatory records related to UOBE FX GLOBAL LIMITED can be found on the FinCEN MSB's official website.
Moreover, FinCEN's mission is to safeguard the financial system from illicit use, combat money laundering and related crimes (including terrorism), and promote national security through strategic use and the collection, analysis, and dissemination of financial intelligence. It does not regulate foreign exchange trading and commercial activities.
The domain name of UOBE FX's official website was registered on June 27, 2023, making the registration less than a year old.
How to Open an Account?
To open an account with UOBE FX, start by clicking “Register” on its official website to enter its proprietary trading platform, and click “Register” again in the top right corner of the trading platform. The registration process requires filling in your name, personal email, phone number, verification code, and setting a login password. The brokerage will send a verification code via email, and upon submission, you can log in. After logging into the trading platform, identity verification is required to deposit, withdraw, and trade.
Investors should note: The account opening link on UOBE FX redirects to BDSU EX's registration page. There may be an association or other relationship between UOBE FX and BDSU EX, but investors should remain vigilant towards such brokerages.
Account Types:
UOBE FX supports the opening of both real and demo accounts, but no specific information about the trading accounts is provided on its official website. The brokerage claims on its FAQ page to offer floating spreads as low as 1 point, with trading leverage ranging from 1:100 to 1:500. However, details such as minimum deposit, trading commission, margin call level, stop-out level, and minimum trade size have not been explicitly disclosed.
Trading Platform:
UOBE FX offers a proprietary trading platform, providing users with trading services for a variety of financial products. However, currently, there is a lack of specific information regarding the software's download link and compatible versions.
Deposits and Withdrawals:
UOBE FX's official website does not disclose specific methods of deposit and withdrawal. Upon logging into their trading platform, it was discovered that only cryptocurrencies and bank cards are available as methods of deposit and withdrawal.
Website Design:
The website design of UOBE FX is highly similar to those of BDSU EX, SV Markets, ABHKFX, DEOASIS PTY LIMITED, and several others, sharing many similarities.
Investors should remain cautious and conduct thorough research and as much investigation as possible before considering using or trading on these platforms. Ensure that the chosen platform is legitimately regulated to avoid the impact of potential fraudulent activities.
Customer Support:
Users can access customer support from UOBE FX via email. It's advised that users provide clear and detailed information in their emails, enabling the customer support team to better understand and address their concerns. Besides email, no other contact methods or online support options are provided on its official website.
Summary:
UOBE FX is a forex brokerage registered in the United Kingdom with a relatively short registration period. It uses a proprietary trading platform and has limited contact methods. UOBE FX shares a high degree of website design similarity with BDSU EX, ABHKFX, DEOASIS LIMITED, VLC Trade LLC, OBV Trade MT5, and other brokers, indicating the possibility that these websites were developed using the same template. Traderknows advises investors to steer clear of this platform to avoid unnecessary financial loss.
Currently, UOBE FX is marked as "Suspected of Fraud" on Traderknows.
