UFS Market-Overview of Minimum Deposit, Spreads & Leverage
Abstract：UFS Market is an online broker, operated by Unicorn Financial Services LLC, a financial technology company registered in Saint Vincent and the Grenadines. UFS Market says it is under strict supervision of international regulations NFA to protect investors interests. However, there is no related regulation information displayed anywhere, so UFS Market is pretending to be regulated to scam traders.
General Information & Regulation
UFS Market is an online broker, operated by Unicorn Financial Services LLC, a financial technology company registered in Saint Vincent and the Grenadines. UFS Market says it is under strict supervision of international regulations NFA to protect investors interests. However, there is no related regulation information displayed anywhere, so UFS Market is pretending to be regulated to scam traders.
Market Instruments
Tradable financial instruments available on the UFS Market platform include forex currency pairs, precious metals, futures, metals, indices, stocks, energies and cryptocurrencies.
Minimum Deposit
There are three trading accounts on offer in total: Standard and Zero Spread accounts. The minimum initial deposit for starting a basic requirement is only $1, while the requirement for the Zero Spreads account soars to $3000. Since UFS Market is an unregulated broker, it is unsafe to trade with it in spite of its low account opening amount.
Leverage
UFS Market offers trading leverage up to 1:500 for forex trading, 1:100 for precious metals. To be honest, trading with UFS Market, an unregulated broker, on such generous leverage is not necessarily a good thing.
Spreads & Commissions
Spreads vary depend on various trading accounts, as per its official website. For the standard account, the spread on the EUR/USD pair start from 1.5 pips. Spreads offered by the Zero Spread account is much narrower, starting from 0.5 pips.
Trading Platform Available
What UFS Market offers its traders is the White Label MT4 trading platform, available for PC and Mobile devices. UFS Market advertises that its MT4 trading platform with a lot of advanced features like real-time variety quotation monitoring, charts and sale reports, automated trading system, allowing hedging transactions, multi account management, real-time quotes.
Deposit & Withdrawal
When it comes to deposit & withdrawal payment methods, UFS Market does not make this part clear. In most cases, most brokers support Credit/Debit card (VISA, MasterCard, Maestro), Wire transfer, Skrill and Neteller for traders to fund their accounts.
Customer Support
The UFS Market customer support team can be reached through email: info@ufsmarket.com, Line: @ufsmarket. UFS Market claims that it offers 24/5 live chat, however, this is unavailable after looking through its website.
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