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No valid regulatory information, please be aware of the risk!
+44 800 520 0072
Saint Vincent and the Grenadines
Pyramid scheme complaint
General Information & Regulation
UNFXB‘s website states that the UNFXB brand is one of the subsidiaries of Unicorn Brokers Holding, which started its activities in 2016. The broker is allegedly a forex broker registered in Saint Vincent and the Grenadines that claims to provide its clients with over 1,400 trading symbols with flexible leverage up to 1:1000 and variable spreads from 0 pips on the MT5 for Windows, Android, iOS and Web Trader trading platforms, as well as a choice of twelve different live account types. Here is the home page of this broker’s official site:
As for regulation, it has been verified that UNFXB does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.28/10. Please be aware of the risk.
UNFXB advertises that it offers access to more than 1,400 trading symbols, covering forex, indexes, stocks, commodities, metals and cryptocurrencies.
UNFXB claims to offer twelve types of trading accounts, namely Standard, ECN, ECN Pro, UNFXB Pro, Platinum, Gold, UNFXB Spot, Crypto Marginal, Invest UNFXB Crypto, PAMM, MAM and Copy Trading. The minimum initial deposit amount is only $10 for the Standard account, while the other eleven account types have much higher minimum initial capital requirements. Specifically, the minimum deposit amount is $100 for the ECN, UNFXB Spot, Crypto Marginal, PAMM, MAM and Copy Trading accounts; $500 for the Platinum account; $1,000 for the ECN Pro and Gold accounts; $2,500 for the Invest UNFXB Crypto accounts and $15,000 for the UNFXB Pro account.
Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Standard account can enjoy the maximum leverage of 1:1000, the ECN account has the leverage of 1:500, the ECN Pro account has the leverage of 1:400, the UNFXB Pro, Platinum, Gold, PAMM, MAM and Copy Trading accounts have the leverage of 1:200, the Crypto Marginal account has the leverage of 1:100 and the UNFXB Spot and Invest UNFXB Crypto accounts have the leverage of 1:1. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
UNFXB claims that different account types can enjoy quite different spreads. Specifically, the spread on the Standard account starts from 16 POINTS; the ECN, PAMM, MAM and Copy Trading accounts have spread from 8 points; ECN Pro, UNFXB Pro and UNFXB Spot accounts have spread from 0; the Platinum, Gold and Crypto Marginal accounts have floating spreads; while there is no spread on the Invest UNFXB Crypto account.
Trading Platform Available
Platforms available for trading at UNFXB are MT5 for Windows, Android, iOS and Web Trader. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
UNFXB says to accept deposits via PayPal, Neteller, Western Union, Bitcoin, Perfect Money, Web Money, Litecoin, Ethereum, Bitcoin Cash, Dash, Tether, Monero, NEO, Binance Coin, Royal Bank of Canada, Rial Bank Iran, Wire Transfer and Exchange in Afghanistan, while withdrawals with PayPal (2% commission), Neteller (no commission), Western Union (5%), Perfect Money (0.5%), Web Money (2%), Royal Bank of Canada (3%), Rial Bank Iran (no), Wire Transfer (no), Exchange in Afghanistan (no) and Tether ($6).
The minimum initial deposit requirement is said to be only $10, while there is no mention of what the minimum withdrawal amount is. All deposits are free of commission and can be processed instantly. By contrast, Wire Transfer and Exchange in Afghanistan withdrawals are instant, Royal Bank of Canada withdrawals take 3-5 working days and other withdrawals require 6-48 working hours to be processed.
Note that failure to make a transaction or low trading volume means that the broker is used as a fund and UNFXB has the right to deduct 5% of the amount when requesting a withdrawal.
UNFXB claims to offer up to a $2500 deposit bonus for the Standard, ECN, ECN Pro, UNFXB Pro and Platinum accounts, yet we cannot be sure if the bonus can be withdrawn without any limitation.
In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.
UNFXBs customer support can be reached by telephone: +44 800 520 0072, email: Support@unfxb.com, live chat or send messages online to get in touch. You can also follow this broker on social networks such as Twitter, Facebook, Instagram, YouTube and LinkedIn. Registered address: Suite 305, Griffith Corporate Centre, Kingstown St, Vincent and the Grenadines.
Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
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