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Ultrontradefx Review - is it scam or safe?

Ultrontradefx review - Is ultrontradefx.com scam or good forex broker?

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

Ultrontradefx is an anonymous website offering a web based platform for binary options bets. Ultrontradefx claims to be based in the US, but they are not regulated by the local authorities and as we already noted their website is virtually anonymous – we do not know the name of the company that operates the broker, there is no credible physical address and no phone number.

 

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Standard Account

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Ultrontradefx Advantages:

 

A selection of major crypto coins

 

We always try to come up with any possible positive features about the broker – in the case of Ultrontradefx one of those might be the array of crypto coins on which you may bet - Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, Cardano, Stellar, Monero, Dash, Ethereum Classic, Bitcoin Gold and Dogecoin. Still, if you really want to trade crypto assets, we may suggest that you also check our list of brokers trading with bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

90% payout

 

The payout you get with Ultrontradefx is up to 90% and that sounds attractive. The maximum payout with binary options is considered attractive only above 85%. Still, here you may also check our list of brokers offering forex and CFD trade with tighter spreads:

 

>> Lowest spread forex brokers<<

 

Lots of payment methods

 

Ultrontradefx say to be accepting payments with credit and debit cards like VISA and MasterCard, bank wire and a number of e-wallets and money transfer services like Neteller, Skrill, PayPal, Perfect Money, Ria Money Transfer, Western Union and MoneyGram. And they also accept payments with bitcoins – a payment method which is getting quite popular lately, so here you may check our list of brokers, where you can pay with bitcoins as well:

 

>>Forex Brokers Accepting Bitcoin<<

 

Ultrontradefx Disadvantages:

 

No license

 

USA is one of the most strictly regulated financial markets in the world and any company that wants to offer brokerage services to US citizens should be authorized and regulated by the Commodities Futures Trading Commission (CFTC) and the National Futures Association (NFA).

 

As we already noted Ultrontradefx website is virtually anonymous – we do not know the name of the company behind it so it was not a big surprise that we were not able to find Ultrontradefx in the NFA registers, where all brokers operating on US soil should be listed.

 

Besides, the requirements for all US operating brokers are quite demanding – for example they should be holding a minimum operational capital for at least 20 000 000 USD – the same amount as required for a Swiss bank.

 

Bear in mind that trading with unregulated brokers is associated with an extremely high risk of getting scammed, and that is because unregulated brokers are virtually unaccountable for the way they handle your money. 

 

Properly regulated brokers on the other hand can be trusted because of the strict regulatory oversight they are subject to. For example if you are trading with a broker, registered with NFA or licensed by the Financial Conduct Authority (FCA) in the UK, you will not have to worry about the safety of your funds, because all such brokers have to file regular reports, to allow external audits and in some cases even to insure traders funds. 

 

Your insurance with a FCA regulated broker for instance will cover up to 85 000 GBP of your account, which will be payed back to you in case the broker files for bankruptcy. So here you may also check our list of FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<<

 

No information about the minimum deposit requirement

 

There is no information on the Ultrontradefx website about their minimum deposit requirement. Just have in mind that most brokers will ask you for about 250 USD, while some big well established companies like FBS and IG do not have a minimum deposit requirement at all.

 

MetaTrader4 not supported

 

Ultrontradefx offers an overly simplified web based trading platform, which lacks a number of standard features that you will find with well known trading platforms like the MetaTrader4. 

 

 

For example, with a MT4 you can easily run automated trading sessions with the help of customizable trading robots an market indicators. And you can also rely on a set of advanced charting tools, which are not available with Ultrontradefx. So here you may also check our list of brokers supporting MetaTrader4:

 

>>MT4 Brokers<<

 

Conclusion:

 

Ultrontradefx is an anonymous website offering binary options without a license. And if you ask us, this is the perfect recipe for a scam. So our best advice here is never to deposit any funds with brokers that are not licensed by a well known financial regulator, such as the FCA in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC).

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Traders` reviews for Ultrontradefx

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