General information and regulations of UnitForex
Registered in Saint Vincent and the Grenadines, UnitForex is an online forex broker that provides its client with a series of services about forex. Currently it has no regulations, so please be aware of the risk.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.
At the end of the article, we will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.
Market instruments
Currency pairs, indices, metals, energy .....UnitForex allows clients to access a series of trading markets. Therefore, both beginners and experienced traders can find what they want to trade on UnitForex. However, we noted that cryptocurrencies, stocks, futures are not currently available.
Spreads and commissions for trading with UnitForex
Standard and premium accounts require no commissions, while ECN and pro accounts need respectively a commission of 7 USD and 3 USD. The spreads also vary from different accounts, but specific information is not clear.
Account Types for UnitForex
Demo Account: UnitForex provides a demo account that allows you to try out the financial markets without the risk of losing money.
Live Account: UnitForex offers a total of 4 account types: standard, premium, ECN and pro. The minimum deposit to open an account is not revealed. Their major differences consist in spreads and commissions.
Trading platforms offered by UnitForex
Although a long time has passed since the launch of MT4, it is still a major player in the market and is loved by traders all over the world. Accessing it from different devices also makes it easier for users to trade.
Leverage offered by UnitForex
UnitForex offers a maximum leverage of up to 1:500, which is a generous offer and ideal for professional traders and scalpers. However, since leverage can magnify your profits, it can also result in a loss of capital, especially for inexperienced traders. Therefore, traders must choose the right amount according to their risk tolerance.
Deposit and withdrawal methods and fees
In terms of deposit and withdrawal, like many good brokers, UnitForex provides a detailed form with important information about currency, payment method, minimum amount, arrival date, fees, etc.
Educational resources
A series of educational resources is available at UnitForex, such as pip/pivot point/Fibonacci/profit/margin calculator, economic calendar and news.
Customer support of UnitForex
Below are the details about the customer service.
Language(s): English
Service Hours: queries answered within 24 hours time window! (regular business hours).
Email: info@unitforex.com Support@unitforex.com
Phone Number: +442032890738
Address: 1st Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown,
Saint Vincent and the Grenadines
Social media: Facebook, Instagram, YouTube, twitter
Users exposures on WikiFX
We have not received any reports of fraudulent activity at this time.
Advantages and disadvantages of UnitForex
Advantages:
High leverage
MT4
Educational resources
Complete deposit and withdrawal information.
Disadvantages:
No effective regulation
Few information available
No MT5
No copy trading
Frequent asked questions about UnitForex
Is this broker well regulated？
No, it is currently not effectively regulated and you are advised to be aware of its potential risks.
How much leverage does this broker offer？
The maximum leverage of UnitForex is 1:500. Please note that this leverage may only be available for some accounts and products. Please consult our articles or the dealer's website for specific information.
Does UnitForex charge commissions？
There is no commission on standard and premium accounts, while the commission on ECN and pro accounts is $7 and $3 per lot.
2023-03-31 14:36
