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!
No valid regulatory information
Please be aware of the risk!
No restriction on the broker account. Provide service support by WikiFX
UAG Network Ltd
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.
Average transaction speed（Millisecond） Poor 1674.9
The fastest transaction speed（Millisecond） 640
The fastest transaction speed [open]（Millisecond） 1321
The fastest transaction speed [close]（Millisecond） 640
Slowest transaction speed（Millisecond） 1999
Slowest transaction speed [open]（Millisecond） 1999
Slowest transaction speed [close]（Millisecond） 1797
Average disconnection frequency（times/day） Good 0.5
Average reconnection time（Millisecond） 11
XAUUSD Perfect 0USD/lot
Average trading slippage 0.8
Maximum transaction slippage 29
Maximum transaction slippage [Long] -1
Maximum transaction slippage [Short] 29
UAG broker and eureka are both scammers
UAG broker and eureka master scan clients with estimated millions of dollars. we were scammed on the night of January 26, 2022. and this is pure scammer
Uag scamed us by wiping out our accounts
Uag broker and a master trader eruka both scamed us by manipulated gold figures.Eruka open trades and he continued trades until our whole account wiped out.Uag broker and that eruka name master trader both scamed us
Unable to withdraw
I've waited for my withdrawal for a long time
Unable to withdraw
I couldn’t withdraw my fund as usual.
The withdrawal of $7500 applied in last October is yet to be received.
Unable to withdraw
The withdrawal is unavailable. LP transferred the fund on Jan. 31st and cliamed taht I couldn't withdraw fund repeatedly.
Unable to withdraw
Unable to withdraw in scam platform
Scan to Download
You can check the real-time processing progress in 'User Center-My Release-Ponzi Scheme'
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.
UAGTrade offers investors a range of financial instruments, including Forex, precious metals, energy and index CFDs.
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.
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.
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.
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.
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