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UB4Trade Review - is it scam or safe?

UB4Trade Review - is ub4trade.com scam or good binary options broker?

RATING: 1 / 0 REVIEWS UB4Trade
UB4Trade is not regulated. We cannot guarantee your money is safe.

Trading Accounts & Conditions

 

Minimum deposit Min./Max. bet size Expiry Times Payout %
$250 $10/$1000 1 min – 1 day Up to 80%

 

UB4Trade is an unregulated broker that offers trading in binary options on a web-based platform. Clients who deposit more than $2 000 allegedly get some perks such as several risk-free trades, on-deposit bonus and more:

 

 

Below, we’ll discuss in detail the offer of UB4Trade and whether it is safe to invest with it.

 

 

UB4Trade Advantages  

 

Solid choice of assets

Clients of UB4Trade are able to trade in wide range of currency pairs, as well as commodities, indices and stock CFDs. Although some hot assets like cryptocurrency CFDs are missing in the broker’s product portfolio, its offering is still solid.

 

 

UB4Trade Disadvantages

 

Not regulated

According to the information on its website, UB4Trade is owned and operated by Finatex Ltd. The company is allegedly located in London at Suite 6, 3rd Floor, 93-99 Mabgate, Leeds, Yorkshire, LS9 7DR, United Kingdom.

 

Of course, the firm is not licensed in the UK, nor anywhere in the European union. As most of you probably know, ESMA banned binary options altogether (as of July 2, 2018), and there have remained no reliable regulators in the binary options industry. That is why most major binary options brokers closed up shop or changed their focus to forex.

 

Blacklisted by several regulators

We found out that several financial regulators have issued official warnings against UB4Trade, which is even more worrisome than the previous point. Basically, this inclines us to believe that the broker is most likely involved in fraudulent activities.

 

The Danish Financial Supervisory Authority (Finanstilsynet) has blacklisted the broker in March 2018. According to the regulator, UB4Trade provides financial services in Denmark without being authorized. Therefore, the Danish Financial watchdog advises investors to avoid any form of financial services offered by this broker.

 

Meanwhile, New Zealand’s Financial Markets Authority was more specific, saying that it has received alerts that UB4Trade acts outside clients’ instructions and withholds client funds without a valid reason.

 

 

Unproven web-based platform

As most binary options brokers, UB4Trade also offers its services on a web-based platform. This trading interface is easy to use, but lacks any analytics and advanced tools other platforms support. Here is a scrrenshot:

 

 

Click to zoom in.

 

Relatively high initial deposit

In order to use the services of UB4Trade, one has to invest at least $250. While such a sum may not seem like too much, a lot of reliable and licensed financial services providers require less. For example, you may open an account with global forex and spread betting broker IG by investing only a couple of pounds or US dollars.

         

Payouts not that attractive

Payouts at UB4Trade amount to 80%, if an option expires in-the-money. Such percentage is actually not that high, as most brokers offer at least 83% in payouts.

 

 

Conclusion

 

UB4Trade is a binary options broker that seems quite shady – it is not licensed and has been blacklisted by two financial regulators (of Denmark and New Zealand). Considering that there have left no reliable operators in the binary options industry, we suggest that it is in the best interest of investors keen on binaries to switch to forex.

 

There are a number of well-established and licensed forex brokers that offer trading in wide range of financial assets. Some of the most reliable ones are those regulated in the UK or Cyprus.

 

 

>> Trade forex with brokers licensed in the UK <<

 

 

Those brokers are required to keep clients funds in segregated accounts, to report transactions to the UK financial watchdog, to provide negative balance protection and compensation coverage in the event of bankruptcy, among other things.

 

To sum up our review on UB4Trade:

 

Pros Cons
Solid choice of assets Not regulated
  Blacklisted by several regulators
  Unproven web-based platform
  Relatively high initial deposit
   

 

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Traders` reviews for UB4Trade

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