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    UAG

    • United Arab Emirates United Arab Emirates
    • 2-5 years
    • Scam Brokers
    • Suspicious Regulatory License
    • MT4/5 full license
    • Regional Brokers
    Open Account
    WikiFX Score
    Comparison

    The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints!

    Licenses

    No valid regulatory information

    Please be aware of the risk!

    VPS Standard

    No restriction on the broker account. Provide service support by WikiFX

    • Single Core

    • 1G

    • 40G

    Get it for free

    Broker Information

    Company Name

    UAG Network Ltd

    Phone of the company

    0945650746

    Company website
    https://uagtrade.com/
    Twitter

    --

    Customer Service Email Address

    support@uagtrade.com

    Company address

    --

    Pyramid scheme complaint
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    This platform is a Ponzi Scheme. Please stay away! 4
    2022.05.24

    This broker bas been verified to be illegal and all of its licences have been expired, and it has been listed in WikiFX's Scam Brokers list; please be aware of the risk!

    The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.

    • Account
    • Benchmark
    Comparison
    MT4 Download
    • STANDARD
    • ECN
    • Benchmark C
    • Maximum Leverage 1:200
    • Minimum Deposit 100USD
    • Minimum spread 0.3 PIP
    • Products --
    • Currency --
    • Benchmark C
    • Maximum Leverage 1:200
    • Minimum Deposit 500USD
    • Minimum spread 0.3 PIP
    • Products --
    • Currency --
    • Currency --
    • Minimum position 0.01
    • EA supported
    • Depositing Method --
    • Withdrawal Method --
    • Commission --
    • Currency --
    • Minimum position 0.01
    • Depositing Method --
    • Withdrawal Method --
    • Commission --
    • WikiFX Data
    • Marketing Strategy
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    Total Margin

    Active Trade

    New User

    Stop Out

    Total Profit

    Total lots

    Spread Cost

    Net Deposit

    Net Withdraw

    No data
    Brokers UAG Trade Review Scam

    Read our UAG Trade review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is an uagtrade.com review.

    WikiFX
    2021/12/14 5:41:12
    UAG Trade Review Scam

    UAG

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    UAG

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    WikiFX·pyramid scheme complaint
    1  Know about pyramid scheme  >
    2  Pyramid scheme complaint   >
    3  Done
    1. What is pyramid scheme complaint?
    With the continuous development of the forex market, more and more Ponzi schemes have poured in, and global investors have suffered greatly. WikiFX has set up a complaint channel in order to ensure the funds security and prevent more scams. We sincerely invite foreign exchange investors to report such fraud platforms and jointly purify the market environment!
    2. 10 Features of Pyramid Scheme
    High Profit Promised Level Marketing Required Multi-level Marketing False Advertising Master Trader Awarded 'Datuk' Brainwashing-style training Fake Regulation Copycat of other platforms Marketing & PR campaigns
    Report immediately
    Report This Platform
    UAG
    * Contact number
    0086
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    *Reporting Reasons

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    UAG · Company summary

      General Information & Regulation

      UAG Network Ltd (UAGTrade) was founded in 2016 and is an online trader based in Dubai, UAE. It is important to note that although UAGTrade claims to be a regulated trader, it does not actually hold any authorized licenses.

      Market Instruments

      UAGTrade offers investors a range of financial instruments, including Forex, precious metals, energy and index CFDs.

      Accounts

      UAGTrade has two regular account types for investors to choose from, namely the Standard Account (the minimum deposit of $100) and the ECN Account (the minimum deposit of $500). In addition, UAGTrade offers swap-free accounts to Muslim traders.

      Leverage & Spreads

      Both Standard and ECN accounts have a maximum leverage of 1:200, but UAGTrade offers differing spreads for different clients. The spreads for standard accounts range from 1.6 pips, while ECN accounts enjoy a higher discount from 0.1 pips.

      Commissions

      The various account types are designed to meet the needs of different traders, and of course the benefits of their accounts vary slightly. 2 USD per lot for ECN accounts and 12 USD per lot for standard accounts with real-time cashback.

      Trading Platforms

      UAGTrade offers its clients two trading platforms, the well-known MetaTrader 4 (MT4) platform and the UAGTrade APP developed by the trader itself. Among them, MT4 supports both PC and mobile use.

      Deposit & Withdrawal

      UAGTrade supports multiple payment methods for deposits/withdrawals, including bank transfers (only USD/MYR accepted), PayPal and Bitcoin wallets. It should be noted that the trader emphasizes that deposits and withdrawals cannot be made to/from third party accounts.

      Risk Warning

      Multiple platforms online have received a large number of complaints from UAGTrade, mainly covering the inability to withdraw funds. Please note that the trader may be an illegal Ponzi scheme.

    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.