General Information
UnicornFX is allegedly a broker that provides its customers with supreme trading platforms and helps each one of them make their financial dreams come true. UnicornFX hypes that it offers up to 500:1 leverage, over low spreads on over 165 instruments, and 24x7 customer support services.
Market Instruments
Unicorn FX advertises that it offers more than 165 trading instruments, including currencies, indices, and commodities. Some other trading assets like stock, and precious metals are not available.
Account Types
Apart from demo accounts, there are four live trading accounts offered by Unicorn FX: namely Standard, VIP, Pro, and ECN. The minimum initial deposit to start a standard account is $100, aligning with most brokers' requirements. While the other three accounts require much higher initial capital, $1000, $5,000, and $50,000 respectively.
Leverage
In terms of trading leverage, the maximum level offered by Unicorn FX is quite generous, up to 500:1. Keep in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.
Spreads & Commissions
Spreads and commissions are significantly affected by what type of accounts you are holding. The larger balance in your accounts, the more competitive offerings you can enjoy. For example, the spreads in the Standard accounts start from 1 pip, the Pro account from 0.5 pips, and the VIP account from 0.2 pips, all charging no commissions. Traders holding the VIP account can enjoy raw spreads, from 0.0 pips, yet with 5 USD per lot commission.
Trading Platform Available
When it comes to trading platforms available,Unicorn FX gives traders two choices: MetaTrader5 and Mobile trading platforms. Meta Trader 5 is one of the most successful, efficient, and competent forex trading software. While with a Mobile platform, trading can be done from anywhere and at any time through the right mobile terminals. From any mobile device compatible with Android and iOS operating systems, the results can easily be tracked.
Deposit & Withdrawal
The option to select a payment method was not available in the deposit menu at the time of writing this review. There are three withdrawal options on the menu: bank, credit card, and Bitcoin. There are no obvious options for using popular online payment platforms such as PayPal, Skrill, or Neteller.
Customer Support
The Unicorn FX customer support can be 24/7 reached through telephone: +44 1163183591, email: support@unicornfxlive.com. Besides, you can also follow this broker on some social media platforms like Facebook and Instagram. Company address: 71-75 Shelton Street, Greater London, London, wc2H 9JQ, United Kingdom.
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