Score

1.46 /10
Danger

Unionstock

United States

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

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Score

Regulatory Index0.00

Business Index6.62

Risk Management Index0.00

Software Index4.00

License Index0.00

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Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Regulatory disclosure

Danger

PT CMVM
2022-07-18

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Warning: Low score, please stay away!
Previous Detection : 2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Unionstock · Company summary

Note: Unionstock is to operate via the website - https://unionstock.co/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

Feature Detail
Regulation No Regulation
Market Instrument Forex & CFD
Account Type N/A
Demo Account N/A
Maximum Leverage 1:200
Spread (EUR/USD) 3 pips in the browser-based platform | more than 8 pips in MT4
Commission N/A
Trading Platform MT4 & Web
Minimum Deposit $250
Deposit & Withdrawal Method Credit/Debit cards, Wire Transfers, Bitcoin and PayPal

Unionstock, a trading name of Felicity Group Ltd, is allegedly a forex and CFD broker registered in the United States that claims to provide its clients with leverage up to 1:200 and floating spread on the MT4 and web-based trading platform. Here is the home page of this brokers official site:

General Information & Regulation

As for regulation, it has been verified that Unionstock currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.31/10. Please be aware of the risk.

General Information & Regulation

Market Instruments

Unionstock advertises that it is a forex and CFD broker that mainly offers forex and CFD trading. However, more specific information about tradable assets cannot be found on the Internet.

Leverage

The maximum provided by Unionstock is up to 1:200. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads

At Unionstock, the EUR/USD spread is 3 pips in the browser-based platform, but more than 8 pips in MetaTrader4.

Trading Platform Available

The platform available for trading at Unionstock is one of the most notable and preferred trading platforms the market offers - MetaTrader4 and a web-based platform. The MT4 is highly praised by traders and brokers alike due to its ease of use and great functionality, offering top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.

Trading Platform Available

Deposit & Withdrawal

The funding methods at Unionstock are supposedly Credit/Debit cards, Wire Transfers, Bitcoin and PayPal. The minimum initial deposit requirement is said to be $250. There is no information about minimum withdrawal requirements, but there are fees applicable to each transaction. The withdrawal request processing time is 5 to 7 days.

Bonuses & Fees

Unionstock says to offer a deposit bonus, however, it can only be withdrawn when clients reach a minimum trading volume of 25 times the deposit plus the bonus amount.

Also, the broker charges a dormant fee. The account becomes dormant after 3 months of inactivity according to their T&Cs or after 6 months according to their Deposit and Withdrawal policy, and it will be subject to a 10% monthly deduction,

Customer Support

Unionstock‘s customer support can be reached by email: support@unionstock.co. Company address: 8 Copthall, Roseau Valley, 00152, Commonwealth of Dominica. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most transparent brokers offer.

Pros & Cons

Pros Cons
• MT4 supported • No regulation
• Website inaccessible
• Multiple payment choices • Uncompetitive spreads
• High minimum initial deposit required

Frequently Asked Questions (FAQs)

Q 1: Is Unionstock regulated?
A 1: No. It has been verified that Unionstock currently has no valid regulation.
Q 2: Does Unionstock offer the industry-standard MT4 & MT5?
A 2: Yes. Unionstock offers the MT4 and web-based trading platform.
Q 3: What is the minimum deposit for Unionstock
A 3: The minimum initial deposit with Unionstock is $250.
Q 4: Does Unionstock charge a fee?
A 4: Like every forex broker, Unionstock charges a spread fee. It also charges an unspecified withdrawal fee.
Q 5: Is Unionstock a good broker for beginners?
A 5: No. Unionstock is not a good choice for beginners. Although it offers the leading MT4, the EUR/USD spread in different trading platforms is completely different and uncompetitive. Also, the minimum initial deposit amount is quite high, which is unfriendly for beginners.

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