Universe Markets FX Review - is it scam or safe?

Universe Markets FX - Is universemarketsfx.com scam or good forex broker?

RATING: 1 / 5 REVIEWS

Universe Markets FX is an offshore broker. Your money is not safe.

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Universe Markets FX is a forex and CFD broker, offering over 50 forex pairs on the MetaTrader5 platform. However, if you are considering opening an account with them, have in mind that recently the Financial Conduct Authority (FCA) has issued a warning about their operations in the UK.

Account type	Min. deposit	Max. leverage	Spreads
Standard Account	$250	1:300	2 pips, fixed

Universe Markets FX Advantages:

Various trading instruments, including crypto CFDs

Universe Markets FX says to be offering over 50 forex pairs, including some exotic currencies and crypto CFDs on Bitcoin, Bitcoin Cash, Litecoin, Dash, Ripple, Ethereum and Ethereum Classic. The broker also offers CFDs on spot metals like gold and silver, shares, indices, commodities and oil. Still, here you may check our list of brokers, also offering Bitcoin CFD:

>>Bitcoin Forex Brokers<<

Leverage of up to 1:300

Universe Markets FX offers maximum leverage of up to 1:300, which is more than enough to accommodate even the most aggressive trading strategies. Keep in mind that most professional traders rarely use leverage exceeding 1:100, as such levels come with excessive risk of loosing your funds much faster.

MetaTrader5 supported

Universe Markets FX offers its clients the popular MetaTrader5 platform, as well as a web based platform.MetaTrader5 is a well developed trading solution, featuring all functionalities of the MetaTrader4, which has become an industry standard for the past decade. Both platforms support an algorithmic trading option, which allows you to run automated trading sessions with the help of specially designed, customizable Expert Advisor bots.

The only disadvantage of MT5 over MT4 is that most trading bots are developed for MetaTrader4 and are not compatible with MT5, as the two platforms support different scripting languages. Still, here you may check our list of brokers, also offering the MetaTrader5:

>>MT5 Brokers<<

Wide variety of cards accepted

With Universe Markets FX you can deposit and withdraw funds with a good variety of credit and debit cards, including Visa, Visa Electron, MasterCard, Maestro, Maestro Switch, Solo, Delta and Diners Card. The broker also accepts payments with a wire transfer, but as they say nothing about e-wallets such as Neteller, Skrill or PayPal, here you may check our list of brokers, where you can pay with Skrill:

>>Brokers where you can pay with Skrill<<

Support in several languages

Universe Markets FX provides full time support in English and Deutsch, probably because they are targeting especially English and German speaking markets.

Universe Markets FX Disadvantages:

No license

Universe Markets FX is owned and operated by White Square Trading Limited, a company based in the UK. As all brokers operating in the UK should be licensed by the local Financial Conduct Authority, we checked its registers and it turned out that not only White Square Trading Limited and Universe Markets are not licensed, but also there is a warning about their activities.

Here is what the FCA says about Universe Markets: “We believe this firm has been providing financial services or products in the UK without our authorisation. Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us. However, some firms act without our authorisation and some knowingly run investment scams. This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.”

In addition to that, the FCA warns that if you are investing with unauthorized brokers you are not covered by the Financial Ombudsman Service and the Financial Services Compensation Scheme.

In case something goes wrong, the Financial Services Compensation Scheme insures trade capital of up to 50 000 GBP, while a similar insurance mechanism, backed by Cyprus Securities and Exchange Commission (CySEC) guarantees up to 20 000 EUR. Here you may check our list of brokers licensed by the FCA:

>>FCA Regulated Forex Brokers<<

Excessive minimum deposit requirement

With Universe Markets FX you can open a trading account with 250 USD and that in our view is excessive, as with most brokers you can open an account with about 100 USD, while with some big names such as XM, FXTM and IG you can start trading with just 5 USD or less.

Demo account does not match advertised trading conditions

On its website Universe Markets FX says they are offering fixed spreads starting form 2 pips – levels, which although acceptable, are still in the upper range of what we consider normal with a starting account. So we tested the trading conditions with a Demo Account and we were unpleasantly surprised to find a generic MetaQuotes version of the MetaTrader5 platform, which does not match the trading conditions as advertised on the Universe Markets FX website. Here you may check our list of brokers, offering tighter spreads:

>> Lowest spread forex brokers<<

Conclusion:

Universe Markets FX is an unregulated broker, which recently came into the spotlight of an FCA investigation. As we already noted, investing funds with unregulated companies comes with a significant risk, because such entities, most often than not, are involved in scam.

Latest news about Universe Markets FX

Austrian FMA flags unregulated brokerage Universe Markets Jul 09 2019 15:31:55
UK's FCA warns about Universe Markets FX Jun 20 2018 09:42:22

Broker	Advantages


	FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

	XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
	FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
	FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
	FBS is a broker with cool marketing and promotions. It runs an ongoing monthly $999 forex contest, offers a $5 no-deposit bonus for anyone willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
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	HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage - one of the highest in the industry.
	Exness is a leading forex broker, offering MT4 and MT5 platforms. Traders can take advantage from a true ECN environment and trade on ultra tight spreads, starting from 0 pips.

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, IFSC	MT4, MT5, Web	$10	Review Website
	Australia, Cyprus	ASIC	MT4, MT5, IRESSTrader	$100	Review Website
	UK, Cyprus, Australia	FCA, 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	MT4, Web, MT4 for Mac	$100	Review Website
	Australia, UK	ASIC, FCA	MT4, MT5, cTrader	$200	Review Website

Traders` reviews for Universe Markets FX

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Submit a complaint or share your experience with Universe Markets FX

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Withdrawal of capital never approve

I have been trying for more than a year to withdraw my investment and up to today it has not been approved. I have written a dozen times but I always get an excuse. Now they are ignoring my emails. Please traders do not invest in the broker.

Helena Emmanuel 07/13/2019

(0)

universe-markets scam

i too have placed a withdrawal request of 250$ for two months now, up till my writing my request have not been approve.
i have sent countless of mail to they asking what is holding my money but know reply from this scam Guys, and they don't answer there calls too.
please forum how can you guys help me to get my money back?

ekenechukwu destiny chukwuma 10/01/2018

(0)

Withrawal Request IGNORED

I've been trying to withdraw from my account but to no avail. Is there any organization that can help someone like me in this situation?

Fernan Joseph A. Punzalan 09/17/2018

(1)

(0)

Scam - Beaware - Natalia Schuster

These guys are perfect scammers. Lost 7500$. They will show you profits initially to attract more funds to be deposited. When you want to withdraw some money (for what ever the reason and amount be) then they will not respond on your withdrawal request for a while and then start showing losses on almost of all the transactions. and finally nullify your account and cancel your withdrawal request.

BIG SCAM. DO NOT OPEN AN ACCOUNT WITH THESE PEOPLE

Raghavendra 08/21/2018

(0)

(3)

UniverseMarketsFX: Withdrawal request Denied

Try to withdraw money that was put in on this platform. Denied. Thy also change from universemarkets.com to universemarketsfx.com without notifying me. So my experience with them up until today is far from positive. My advice is not to invest with unregulated platforms because they bend reality to fit their needs.

Helena 06/19/2018

(0)

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