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Ultrabanc Review - Is it scam or safe?

Ultrabanc Review - is ultrabanc.com scam or good binary options broker?

RATING: 1 / 0 REVIEWS
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Trading Accounts and Conditions  

 

Minimum deposit Min bet size Payout % Bonus Trading platform
$100 $10 Up to 75% 50%-100%* web

*for deposits above $500.

 

Ultrabanc is a binary options broker, offering trading in different financial assets on its web-based binaries platform. Unlike most binary options brokers, it offers a single trading account type .

Besides, this broker focuses on training – there are a number of educational articles on its website, as well as the Plus Academy section, intended for both beginners & advanced traders.

 

The Company. Security of Funds

 

Company

Country

Regulation

Finance Managers Co. Limited

Vanuatu

VFSC

 

Launched in 2015, Ultrabanc website and trademark are owned by Finance Managers Co. Limited, a registered offshore, in Vanuatu. It also operates forex brokerage brand Ubabnk FX.

 

Binary options brokers have increasingly bad reputation lately, as many of them, especially non-licensed and offshore ones, turn out to be scams. That is why we advise traders to be careful when choosing a brokerage and avoid doing business with offshore companies. Vanuatu, for example, has become a very popular forex and binary options hub due to its low-cost registration procedure and favorable tax regime. The minimum capital requirement for opening a brokerage there is only $2,000. By comparison, CySEC requires at least EUR 730 000 in capital form new brokers, which acts as a deterrent for most scammers.

 

Trading Conditions

 

Trading Options: High/Low, Short-Term, 24 hours, One touch, Double up, Ladder

Assets:  Currencies, Stocks, Indices, Commodities

Expiry times:  from 60 seconds to weekly

 

 

Minimum Initial Deposit

The minimum initial deposit for clients of Ultrabanc is $100, which fits the industry standards. Yet, some brokers require less – Grand Capital, for example, demands just $10.

 

Min. bet size

The minimum bet size with this broker is $10, which is also average. With Grand Capital one can place a trade with just $1. Low minimum bet sizes allow for better risk management.

 

Payout amount

The payout percentage offered by Ultrabanc ranges from 70% to 75% on classic binary options, which is not very attractive. In comparison, payout percentage offered by Grand Capital reaches 86%. 

 

Trading Platform

 

Ultrabanc uses a simple web-based platform, where traders can trade wide range of binary options in currencies, commodities stocks and indices. It lacks social trading capabilities and charting is very basic.

 

 

On-Deposit Bonus

Unlike many binary options brokers, who offer Welcome bonuses to all their live account holders, with Ultrabanc traders have to invest at least $500, in order to get some extra funds. Here is the scheme:

 

 

Methods of Payment

 

There are several payment methods available to Ultrabanc’ clients: wire transfer, credit/debit cards, Skrill, Paysafecard, and CashU.

 

Note that the minimum withdrawal amount is $50 and a commission of $25 per transfer (for withdrawals of amounts up to $2000). 

 

Conclusion

 

Ultrabanc is a relatively young binary options broker, that is registered offshore and that is the main reason why it is not recommended. On top of that, the payout percentages it provides are not very attractive, and the platform it supports lacks some important features. To sum up the above, here are the advantages and drawbacks in relation to this broker:

 

 

Pros Cons
Wide range of financial products offered Registered offshore
  Returns below the average
  Welcome bonus offered only to clients with higher deposits

 

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Price feed

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Traders` reviews for Ultrabanc

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