de | cn | ru

UCI Review - is it scam or safe?

UCI review - Is uci-limited.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz UCI
UCI is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Along forex and CFD trade UCI says to offer various other investment options including a series of managed accounts with promised returns ranging between 50% and 80% - at least with their Triple A – Active Assets Account program. And UCI also says to be managing assets exceeding 12 billion USD. 

 

Account type Min. deposit Max. leverage Spreads/ Payout
Standard Account n/a

1:100

n/a

 

This sounds exciting, but if you are really considering to invest your cash with UCI be aware that the broker is not regulated as it should be, if they want to target customers on regulated markets like the European Union, including the UK, and what is worse, they have already been flagged as potential scammers by the regulatory authorities in Italy and Spain.

 

UCI Advantages:

 

MetaTrader4 available

 

We always try to come up with all the beneficial traits a broker might offer its clients, and here with  UCI that might be the MetaTrader4 – by far the most widely used trading platform, featuring well over 50 integrated market indicators and modifiable trading robots with the help of which one can easily run automated trading sessions. And because the platform also comes with a pack of advanced charting tools, here you may check our list of brokers, which support MetaTrader4 as well:

 

>>MT4 Brokers<<

 

UCI Disadvantages:

 

No license, blacklisted by CONSOB and CNMV

 

UCI have been blacklisted as probable scammers both by Comisión Nacional del Mercado de Valores (CNMV) in Spain and CONSOB in Italy. And this is not surprising, because neither UCI nor UCI-Limited, the company operating the website and supposedly based in Australia, is licensed and authorized to offer any kind of financial services on regulated markets like Australia or the European Union. Here you may see the warnings:

 

 

And because proper regulation is the only way for your funds to be properly protected, make sure that you deal only with legit and licensed brokers, like the ones regulated by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or let say the Australian Securities and Investments Commission (ASIC) – the three most popular regulatory destinations in the industry.

 

Here for example you may check our list of FCA brokers, with which your funds will even be protected by a special client compensation fund, basically covering the first 85 000 GBP in your account even in the unlikely case your broker files for bankruptcy:

 

>>FCA Regulated Forex Brokers<< 

 

Managed accounts

 

You should always be extra suspicious of any one offering to manage your money with guaranteed returns. And with their various wealth management programs UCI are offering exactly this. See for yourself: 

 

 

Bear in mind that like most other brokers, legit brokers including, UCI is a market maker, which means they make money, whenever traders lose. So if market makers offer to manage your account they will have an incentive to lose your money for themselves. This is a conflict of interest.

 

Trading bonuses

 

Bear in mind that trading bonuses are altogether banned on regulated markets like the European Union for example, and the reason for this is quite simple. Trading bonuses come with strings attached – usually some minimum trade volume requirement, which scammers use as a pretext to cancel your withdraw requests. And UCI say they reserve the right to change their bonus policy anytime and on their sole discretion, so you can easily imagine why you may never be able to meet their minimum trade volume requirement. 

 

Few payment options, Skrill not accepted

 

Despite the fact that on its homepage UCI displays the logos of various payment methods, including VISA and MasterCard, when we proceeded with our registration it turned out they accept only bitcoins and wire transfers – payment methods, which are both totally irreversible, unlike VISA and MasterCard, with which you can always file for a charge back in case you feel you have been scammed. 

 

 

And UCI does not accept Skrill as well, and this is kind of understandable in the light of the new anti scam policy of the money transfer company. According it Skrill partners only with regulated brokers and as we already noted  UCI is not a regulated broker. Here you can check our list of brokers offering Skrill:

 

>>Brokers accepting Skrill<<

 

No demo account

 

We were not directly able to open a demo account and that is why we can not comment on the UCI spreads. Of course, here you can always check our list of broker, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Conclusion:

 

UCI is an obvious scam – they offer managed accounts while acting as market makers, they operate without a license and they have already been exposed as scammers by the financial regulators in Italy and Spain. So once again make sure to trade only with properly regulated brokers, like the once licensed by FCA in the UK, CySEC in Cyprus and ASIC in Australia.

Latest news about UCI
No news about UCI. Check back later.
Forex
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for UCI

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

de | cn | ru