UNIVERSAL FOREX TRADE

Overview of UNIVERSAL FOREX TRADE

Universal Forex Trade, a trading company established in 2016 and registered in Saint Vincent and the Grenadines, is not bound by any regulatory bodies. The company invites investors with a minimum deposit of $100 and offers a sizable leverage of up to 1:1000. Its competitive spreads start from as low as 0.5 pips.

Universal Forex Trade operates using the MetaTrader 4 platform and provides a spectrum of tradable assets from Forex to CFDs on stocks, indices, commodities, and even cryptocurrencies. They accommodate different types of traders with their Standard and ECN account types. For those keen to learn or practice, the company extends a trial via their demo account. Customers are supported round-the-clock from Monday to Friday through live chats and email support.

Fund transactions are flexible with this company as they accept credit and debit cards, bank wire transfers, and even e-wallets. Meanwhile, for those looking to expand their trading knowledge, Universal Forex Trade offers a variety of educational resources, from webinars to e-books and video tutorials.

Pros and Cons

Pros of trading with UNIVERSAL FOREX TRADE:

• Wide range of trading products and services: UNIVERSAL FOREX TRADE offers a wide range of trading products, including forex, CFDs on stocks, indices, commodities, and cryptocurrencies. This gives traders flexibility to choose the products that best suit their trading needs.

• Low minimum deposit: UNIVERSAL FOREX TRADE requires a minimum deposit of $100 to open an account. This is a relatively low minimum deposit, which makes it accessible to a wide range of traders.

• Popular MetaTrader 4 trading platform: UNIVERSAL FOREX TRADE offers the popular MetaTrader 4 trading platform. MetaTrader 4 is a powerful and user-friendly platform that offers a wide range of features, including technical analysis tools, charting capabilities, and automated trading.

• Variety of educational resources: UNIVERSAL FOREX TRADE offers a variety of educational resources, including webinars, e-books, and video tutorials. These resources can be helpful for new traders who are learning about forex trading.

Cons of trading with UNIVERSAL FOREX TRADE:

• Unregulated broker: UNIVERSAL FOREX TRADE is an unregulated broker. This means that it is not subject to oversight by any financial authority. This poses an increased risk to traders, as there is no guarantee of fair treatment or that the broker will be able to meet its financial obligations.

• High maximum leverage: UNIVERSAL FOREX TRADE offers a maximum leverage of 1:1000. This is relatively high leverage, and traders should be aware of the risks associated with using high leverage. High leverage can amplify both profits and losses, and it can lead to significant financial losses if the market moves against the trader.

• Increased risk of fraud or financial loss: As an unregulated broker, UNIVERSAL FOREX TRADE is not subject to the same level of scrutiny as a regulated broker. This means that there is an increased risk of fraud or financial loss associated with trading with them.

Overall, the cons of trading with UNIVERSAL FOREX TRADE outweigh the pros. Traders should consider trading with a regulated forex broker to minimize the risk of fraud or financial loss.

Regulatory Status

UNIVERSAL FOREX TRADE is an unregulated broker. This means that the broker is not subject to oversight by any financial authority. This poses an increased risk to traders, as there is no guarantee of fair treatment or that the broker will be able to meet its financial obligations.

It is important to note that even if a forex broker has a license from one jurisdiction, it may not be regulated in all jurisdictions. For example, a broker may have a license from a country with lax regulation, but it may not be regulated in the country where the trader is located.

Traders should carefully consider the risks involved before trading with an unregulated forex broker. It is generally recommended to only trade with regulated brokers.

Market Instruments

UNIVERSAL FOREX TRADE offers a wide range of market instruments for trading, including:

• Forex: UNIVERSAL FOREX TRADE offers trading on over 60 currency pairs, including the major pairs (EUR/USD, USD/JPY, GBP/USD, USD/CHF), minor pairs, and exotic pairs.

• CFDs on stocks: UNIVERSAL FOREX TRADE offers trading on CFDs on over 10,000 stocks from all over the world, including the US, UK, Europe, and Asia.

• CFDs on indices: UNIVERSAL FOREX TRADE offers trading on CFDs on over 20 stock indices from around the world, including the S&P 500, Dow Jones Industrial Average, Nasdaq 100, and FTSE 100.

• CFDs on commodities: UNIVERSAL FOREX TRADE offers trading on CFDs on a variety of commodities, including gold, silver, oil, and wheat.

• Cryptocurrencies: UNIVERSAL FOREX TRADE offers trading on a variety of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple.

This wide range of market instruments gives traders flexibility to choose the products that best suit their trading needs.

Please note that UNIVERSAL FOREX TRADE is an unregulated broker, which means that there is an increased risk of fraud or financial loss associated with trading with them. Traders should carefully consider the risks involved before trading with an unregulated forex broker.

Account Types

The best account type for you will depend on your trading style and preferences. If you are looking for an account with lower spreads, then the ECN account is a good option. However, keep in mind that the ECN account also has higher commissions. If you are looking for an account with lower commissions, then the Standard account is a good option. However, keep in mind that the Standard account also has higher spreads.

UNIVERSAL FOREX TRADE offers two types of trading accounts: Standard Account and ECN Account.

• Standard Account: This is the most common type of account. It has higher spreads but lower commissions.

• ECN Account: This account type offers lower spreads but higher commissions.

Here is a table comparing the two account types:

How to Open an Account？

To open an account with UNIVERSAL FOREX TRADE, you can follow these steps:

1. Go to the UNIVERSAL FOREX TRADE website and click on the “Open Account” button.

2. Fill out the online application form with your personal information, such as your name, address, email address, and phone number.

3. Choose the type of account you want to open (Standard or ECN) and the currency you want to use for your account.

4. Make a deposit into your account. UNIVERSAL FOREX TRADE accepts deposits through credit/debit cards, bank wire transfer, and e-wallets.

5. Once your deposit has been processed, you will be able to start trading.

Leverage

UNIVERSAL FOREX TRADE offers a maximum leverage of 1:1000. This means that you can control a position worth $1000 with a deposit of just $1.

Leverage can be a powerful tool for traders, as it can amplify your profits. However, it is important to use leverage carefully, as it can also amplify your losses. If the market moves against you, you can lose more money than you deposited.

It is important to note that UNIVERSAL FOREX TRADE is an unregulated broker, which means that there is an increased risk of fraud or financial loss associated with trading with them. Traders should carefully consider the risks involved before trading with an unregulated forex broker.

Spreads & Commissions

UNIVERSAL FOREX TRADE offers variable spreads and commissions. This means that the spreads and commissions can vary depending on the market conditions and the type of account you have.

The Standard account has higher spreads but lower commissions, while the ECN account has lower spreads but higher commissions.

Here is a table showing the typical spreads and commissions for the two account types:

Please note that these are just typical spreads and commissions. The actual spreads and commissions may vary depending on the market conditions and the type of trade you are placing.

It is also important to note that UNIVERSAL FOREX TRADE is an unregulated broker, which means that there is an increased risk of fraud or financial loss associated with trading with them. Traders should carefully consider the risks involved before trading with an unregulated forex broker.

Trading Platform

UNIVERSAL FOREX TRADE offers the popular MetaTrader 4 (MT4) trading platform. MT4 is a powerful and user-friendly platform that offers a wide range of features, including:

• Technical analysis tools: MT4 includes a variety of technical analysis tools, such as charting indicators and oscillators, which can help traders to identify trading opportunities and manage their risk.

• Charting capabilities: MT4 offers a variety of charting capabilities, including multiple timeframes and chart types, which can help traders to analyze the market and make informed trading decisions.

• Automated trading: MT4 supports automated trading through the use of Expert Advisors (EAs). EAs are computer programs that can automatically execute trades based on pre-defined rules.

MT4 is a popular trading platform among both beginner and experienced traders alike. It is a powerful and versatile platform that can be used to trade a wide range of financial instruments, including forex, CFDs on stocks, indices, commodities, and cryptocurrencies.

Deposit & Withdrawal

UNIVERSAL FOREX TRADE offers a variety of payment methods for depositing and withdrawing funds, including:

• Credit/debit cards

• Bank wire transfer

• E-wallets

The fees associated with deposits and withdrawals vary depending on the payment method used. For example, credit/debit card deposits may incur a fee of up to 2%, while bank wire transfers may incur a fee of up to $50.

Here is a table showing the typical fees associated with deposits and withdrawals for each payment method:

Customer Support

UNIVERSAL FOREX TRADE claims to offer 24/5 live chat and email support. However, there have been reports of traders having difficulty getting in touch with customer support.

Traders who have been able to get in touch with customer support have reported that the support representatives are generally knowledgeable and helpful. However, some traders have also reported that customer support can be slow to respond to inquiries.

Overall, the customer support offered by UNIVERSAL FOREX TRADE appears to be mixed. Some traders have had positive experiences, while others have had negative experiences.

Educational Resources

UNIVERSAL FOREX TRADE offers a variety of educational resources, including:

• Webinars: UNIVERSAL FOREX TRADE offers regular webinars on a variety of forex trading topics, such as technical analysis, fundamental analysis, and risk management.

• E-books: UNIVERSAL FOREX TRADE offers a variety of free e-books on forex trading topics, such as how to get started with forex trading, how to develop a trading plan, and how to manage your risk.

• Video tutorials: UNIVERSAL FOREX TRADE offers a variety of video tutorials on forex trading topics, such as how to use the MetaTrader 4 trading platform and how to place a trade.

These educational resources can be helpful for new traders who are learning about forex trading. However, it is important to note that UNIVERSAL FOREX TRADE is an unregulated broker. This means that there is an increased risk of fraud or financial loss associated with trading with them.

Conclusion

UNIVERSAL FOREX TRADE, an unregulated forex broker, offers a plethora of trading products and services coupled with a low minimum deposit, popular MetaTrader 4 platform, and a diverse set of educational resources. However, these pros are overshadowed by the cons; as an unregulated broker it yields a higher risk of fraud or financial loss.

This is further compounded by high maximum leverage and reports of inconsistent customer support. Whilst trading opportunities exist, the risks significantly outweigh the advantages, making it very critical for traders to exercise caution. As a safeguard, opting for a regulated forex broker is advisable to mitigate potential financial loss.

FAQs

Q: What sort of regulatory oversight does Universal Forex Trade have？

A: Note that Universal Forex Trade doesn't have any regulatory oversight. It's unregulated.

Q: What is the highest leverage available with Universal Forex Trade？

A: At Universal Forex Trade, you can get up to 1:1000 leverage.

Q: What are the spreads offered by Universal Forex Trade？

A: Spreads at Universal Forex Trade start from as low as 0.5 pips.

Q: What trading platform does Universal Forex Trade use？

A: Universal Forex Trade uses the MetaTrader 4 trading platform.

Q: What assets can I trade with Universal Forex Trade？

A: With Universal Forex Trade, you can trade Forex, CFDs on stocks, indices, commodities, and cryptocurrencies.

Q: What types of accounts are offered by Universal Forex Trade？

A: Universal Forex Trade offers two types of accounts - Standard and ECN.

Q: Does Universal Forex Trade offer a demo account？

A: Yes, Universal Forex Trade does offer a demo account for those who'd like to practice.