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Brokerz Union Review - is it scam or safe?

Brokerz Union Review - is brokerzunion.com scam or good binary options broker?

RATING: 1 / 6 REVIEWS Brokerz Union
Brokerz Union is not regulated. We cannot guarantee your money is safe.

General information

 

Brokerz Union is a binary options broker that offers trading in cryptocurrencies on its proprietary web-based platform.

 

Should you invest with it, or maybe Brokerz Union is just another scam? In fact, we are quite skeptical about this broker, as it is not regulated and its trading conditions are far too unclear.  Read on to get all the details.

 

Trading Conditions and Platform

 

Brokerz Union offers two account types: Starter & Premium, plus a demo one. However, it has not disclosed the minimum investment it requires for the live accounts, nor what are the payout percentages or the expiration times of the options. A list of the instruments offered for trade is also missing.

 

According to the FAQ section on Brokerz Union’s website, the minimum investment required is $200, however, when we registered an account it turned out that they actually demand a minimum of 500 EUR.


 

Such minimum deposit is quite high. Most forex and binary options brokers require $100 - $250 as a start. That being said, we also have to mention that Brokerz Union charges withdrawals in bank wire with 25% percent fee.

 

 

Anyway, we tested the broker’s platform in demo mode. It is simple to use, but nothing special in the trading world. Although there are quite a lot technical analysis indicators from a drop-down menu, we could not actually apply any of them, so we are not sure they are actually working.

 

As you can see from the image above, clients of Brokerz Union are able to only bet on cryptocurrencies and those are traded solely against USDT, a token which is a bit controversial. It is supposedly backed by US, but its status is not all that clear.

 

We find the offering of this binary options broker quite limited, as popular financial instruments such as forex pairs, nor CFDs on indices, commodities and stocks, are not available for trade.

 

 

The Company. Security of funds

 

Brokerz Union is operated by PLZ LTD, a company allegedly operating out of Sofia, Bulgaria that also seems to have an address in the UK. Considering the fact that both the UK and Bulgaria are members of the EU, where currently binary options trading is not allowed, Brokerz Union operates illegally. What is worse, the UK’s Financial Conduct Authority (FCA) has issued a public warning against it.

 

 

Considering the above, you’d better not waste your time and money with Brokerz Union or any other unregulated broker.

 

Conclusion

 

We may conclude that Brokerz Union is a pretty shady brokerage unregulated brokerage. It offers binary options trading solely in cryptocurrencies and has little, if any, information on its website.

 

The crypto market is among the most excited possibilities in the trading world today. We highly recommend to interested investors to trade Bitcoin only on regulated exchanges or with regulated brokerages. Here is a list of our top Bitcoin forex brokers: 

 

>> Regulated forex brokers offering Bitcoin CFDs <<

 

 

To sum up our review on Brokerz Union in a few words:

 

Pros Cons
A lot of cryptocurrencies available Not regulated, FCA warning
Demo account Trading conditions not clear
  Limited product portfolio
  High initial deposit

 

Latest news about Brokerz Union
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Traders` reviews for Brokerz Union

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Brokerz Union is scam !!!

They simply stole my money.
I initially invested 250 EURO, and they quickly grew. Then they wanted more money and I agreed to invest 500 EURO. They grew to about 2400 EURO which was very good. Then I wanted to withdraw 1400 EURO, but nothing happened. "Pending" it kept saying on my account. Then I called them and was filled with all kind of excuses and they tried to convince me that it was unwise to withdraw the money now. Hardly had I put down the phone before they opened 2 poaitions for in all 2000 EURO without my permission ! And they failed. The last 400 was lost too shortly after. When I tried to call them again, the phonenumber did not work anymore.... STAY AWAY FROM BROKERZ UNION !

Robert Andersen 06/11/2019

Brokerz Union Scam

At the moment I believe they are scammers like all the others, somehow, and I cant remember how, because my wife has recontracted cancer again and we are spending a great deal of time in hospitals etc. Therefore under a great deal of strain. Situation is the phone calls have dried up if I click on the platform nothing happens and I am over £1000 out of pocket.Dont know what to do other than put it down to another bad experience

Stephen Ward 05/09/2019

Low class natured fools x 2 - please read

A dude called Boris Johnson called me promising me a healthy return on a deposit on $250 using their unique algo software.

The software made me $58 on the next day then did not trade for two weeks. After two weeks the software lost all my money and Boris 'the joker' Johnson failed to respond to my emails.

Luckily for myself, he had emailed to me in writing that 'if you lose then i will personally refund all money'. For one week i tried to contact the customer
service number but no one answered. After an internet search i found another number then explained to them what happened. After some phone negotiation they agreed to refund me the $250 which was a relief.

Stay away from these f*cking clowns. They do not deserve a second chance.

Mr M 10/22/2018

Brokerz Union is scam

Brokerz Union is big scam
Trust me they are not what they said
Please don’t waste your money and your time with them

Altin Mici 10/14/2018

Brokerzunion.com - can't login

Does anyone have any information regarding Brokerzunion.com.
Is it possible they have shut down.
I have tried to contact the company and log into my account but I am not getting through.
I appreciate any information regarding this company.

Brian Bungum 09/22/2018

Brokerzunion scam

Got into brokerzunion, all seemed good dealing with Alan Smith in UK, had some reasonable trades that made profits, was being phoned most week nights NZ time. Until I wanted to draw out some of my profits, that was over a month ago all of a sudden phone calls stopped, managed to ring and get someone, recieved all sorts of excusses why money had been paid out ie change of staff must be error ect. Now I cant even reach them no response on phone DO NOT TOUCH THESE GUYS JUST A RIP OFF

David Newport 08/31/2018
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