Risk Management Index
The Vanuatu Financial Services Commission (VFSC) was formally established in December 1993, after the Vanuatu Parliament enacted the Vanuatu Financial Services Commission Act No. 35 of 1993. Previous to this, the VFSC was the Registrar of Companies and the Official Receivership Department of the Treasury since 1971 under the then, British Administration and after independence in July 1980, the Ministry of Finance and Economic Management. The VFSC has set up four departments, namely Corporate Services, Legal Enforcement & Insolvency, Supervision and Registration.
Current Status:Offshore Regulatory
License Type:Retail Forex License
Regulated in Country/AreaVanuatu
Regulatory License No.：14627
Email Address of Licensed Institution :--
License Type:No Sharing
Website of Licensed Institution :
Expiry Date :--
Address of Licensed Institution :--
Phone Number of Licensed Institution :--
Most visited countries/areas
The data are from WIKI Research 2021.07.26 updated
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General Information & Regulation of UBanker
UBanker claims to be the trading name of GREEN POLE Ltd, an online financial services provider registered in Vanuatu, established in 2017, and currently holds an authorized retail forex license in Vanuatu, regulatory number: 14627. Generally speaking, offshore regulators are not that stringent with forex brokers, and investors should use this platform with caution.
The main financial assets offered by UBanker are Forex currency pairs, commodities, indices, stocks, and CFDs.
Account Types of UBanker
There appears to be only one standard account set up on the UBanker platform, which has a minimum initial deposit of $200, slightly above the industry standard. In addition, offering only one trading account cannot meet the trading needs and experience of different traders.
Leverage is 1:200 for Forex currency pairs, 1:200 for commodities, 1:100 for index CFDs, and 1:10 for cryptocurrency and stock CFDs.
Spreads & Commissions of UBanker
The spread on EURUSD offered in UBanker standard accounts is 3 pips, which is much higher than the industry standard (between 1.1 and 1.5 pips), and high spreads mean higher trading costs.
Trading Platforms Available of UBanker
UBanker offers two main trading platforms for traders, Mobile PROfit and Web PROfit, instead of the popular MT4/MT5 trading platforms.
Deposit and Withdrawal of UBanker
UBanker supports traders to deposit and withdraw funds to and from their investment accounts via wire transfer, VISA, MasterCard, Neteller, Skrill, SWIFT, Paysafecard, EFTpay, ecoPayz payment methods.
The main disadvantages of UBanker are:
1. Offshore regulation
2. High initial minimum deposit requirements
3. High spreads
4. Non-MT4 trading platform
5. Many negative reviews
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