Universal FX Trade is a forex broker whose website domain was registered on March 29, 2022. It primarily offers investors trading services in financial derivatives such as forex, stocks, indices, energy, metals, and ETF contracts for difference (CFDs). This broker does not provide services in jurisdictions that may violate local laws or regulations.
Registration and Regulatory Status:
According to publicly available information on the Universal FX Trade official website, the broker has multiple corporate entities under its name, regulated by various authorities. Universal FX Trade Ltd is authorized and licensed by the Cyprus Securities and Exchange Commission (CySEC), with license number 1780019. Universal FX Trade (registration number HRB11677B) is a designated agent of Ultra Booster Trade Ltd registered with the German Federal Financial Supervisory Authority (BaFin). The broker was also authorized by the Mauritius Financial Services Commission (FSC) as an investment dealer on October 2, 2017, and is regulated by them, with license number C17554381. TVH Ltd is authorized and regulated by the Seychelles Financial Services Authority (FSA), with license number SD0175.
Verification based on publicly available information on its official website shows that the Cyprus Securities and Exchange Commission (CySEC), the German Federal Financial Supervisory Authority (BaFin), the Mauritius Financial Services Commission (FSC), and the Seychelles Financial Services Authority (FSA) do not have regulatory registration information for this broker.
Account Opening:
To open an account with Universal FX Trade: visit the broker's official website, click on "SIGN UP FOR FREE" on the homepage or "SIGN UP" at the top right corner of the page to access the account registration page. Fill in personal information such as name and email address, set a login password, and submit. The account can be successfully registered after submission.
Account Types:
Universal FX Trade offers a demo trading account and four different types of trading accounts: STARTER, BASIC, PRO, EXECUTIVE. However, the broker's official website does not disclose information related to spreads, trading leverage, margin call/stop-out levels, contract sizes, trading commissions, minimum/maximum trading volume, maximum open orders/positions, and minimum price precision.
Trading Platform:
Universal FX Trade offers its own proprietary trading platform.
Deposits and Withdrawals:
Universal FX Trade supports deposits and withdrawals through local bank transfers, e-wallets, or cryptocurrencies.
Conclusion:
Traderknows reminds investors that Universal FX Trade is a scam platform providing false regulatory information, with its website design and content identical to those of brokers such as Reliable Sure FX Trade, Elys FX Trade, Global Finance FX, Vedit Luminus, Irex Global Chain, and Profit Miner24. Traderknows advises investors to choose brokers that are transparent, strongly regulated, and have a good reputation for their investment and trading activities to avoid unnecessary losses to their assets.
Currently, this broker is marked as "Suspected Scam" on Traderknows.
