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Unicorn Finance Review - is it scam or safe?

Unicorn Finance review - Is scam or good forex broker?

RATING: 3.3 / 1 REVIEWS ForexBrokerz Unicorn Finance


Unicorn Finance is an Australian forex broker, licensed by the local financial authorities, which offers a good selection of currency pairs and CFDs on over 30 indices. And all that comes with the MetaTrader4 platform and leverage of up to 1:400. Here you may find more details about their trading conditions.


Account type Min. deposit Max. leverage Spreads
Standard Account n/a 1:400 1,5 pips


Unicorn Finance Advantages:


Sound regulation 


Unicorn Finance holds a legit license by the Australian Securities and Investments Commission (ASIC) through UNICORN FINANCE GLOBAL MARKETS PTY LTD and TRADEMAX GROUP PTY LTD, which are both authorized by the Commission. 



And that makes trading with Unicorn Finance safe. For example under ASIC Client Money Reporting Rules all clients funds should be deposited separately in a trust account at an Australian authorized depository institution (ADI), ensuring that clients funds are segregated from Unicorn Finance own funds.


On top of that all ASIC brokers provide negative balance protection to their clients – e.g. no one can lose more money than he or she has deposited. Besides, here you may also check our list of brokers regulated in Australia:


>>Brokers regulated in Australia<<


Lots of currency pairs and CFDs on over 30 indices


The forex list, offered by Unicorn Finance covers 57 currency pairs, many of which exotic or minor like USDCNH, USDDKK, USDHKD, USDNOK, USDSEK, USDTRY, USDCZK, USDMXN, USDZAR and USDSGD.


And the broker also offers an extensive selection of CFDs on indices – 31 global and regional indices, as well as CFDs on oil, natural gas, silver and gold, but not any crypto CFDs so here you may check our list of brokers offering bitcoin CFDs:


>>Bitcoin Forex Brokers<<


Leverage as high as 1:400


Although high margin trading is associated with higher risk, many traders prefer to have the option to use higher leverage with some of their trades. Actually after the regulators throughout Europe, the US, Canada and Japan restricted the leverage levels on their markets, Australia remained the only major regulatory hub where higher leverage is still allowed.


Good spreads


As tested with a demo account the benchmark EURUSD spread at Unicorn Finance floated around 1,5 pips, which is acceptable, bearing in mind that the broker does not charge any trading fees. In any case, here you may also check our list of brokers, offering tighter spreads:


>> Lowest spread forex brokers<<


MetaTrader4 supported


MetaTrader4 is undoubtedly the most popular trading platform, preferred by professional and beginner traders alike. It features lots of market indicators, as well as customizable trading bots with the help of which one can easily run automated trading sessions.



And MT4 has excellent charting tool as well, so here you may also check our list of brokers supporting the platform:


 >>MT4 Brokers<<


Unicorn Finance Disadvantages:


No information about the minimum deposit requirement


Most brokers require some minimum initial deposit with their trading accounts. Usually it is about 250 USD, but some big well established brokers like FBS and IG do not have a minimum deposit requirement at all. Unfortunately on the Unicorn Finance website we were not able to find information about their minimum deposit requirement.


No information about payment methods


That is another negative point. We were not able to find information about the payment methods either. Just take a note that most brokers accept payments with major credit or debit cards like VISA and MasterCard, bank wire transfers and e-wallets like NetellerSkrill and POLi, which is especially popular in Australia. Some even accept bitcoin payments so here you may also check our list of brokers accepting bitcoins:


>>Forex Brokers Accepting Bitcoin<<




As we noted Unicorn Finance is an Australian broker licensed and authorized by ASIC and that makes them completely reliable. And they also offer the MetaTrader4 with a leverage of up to 1:400 and a nice selection of forex pairs and indices. Spreads are also in line with what traders would usually expect and that makes Unicorn Finance not a bad choice.

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