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UnicoFX -

Score

1.40 /10
Danger

UnicoFX

Australia

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

Suspicious Overrun

High potential risk

https://www.unicofx.com

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Score

Regulatory Index0.00

Business Index6.17

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

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

Single Core

1G

40G

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Broker Information

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Company Name

UNICO AUST PTY LTD

Company Abbreviation

UnicoFX

Platform registered country and region

Australia

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away! 2
Previous Detection : 2025-01-31
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The AustraliaASIC regulation (license number: 649 547 571) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

UnicoFX · Company summary

Note: UnicoFX's official website - https://www.unicofx.com is currently inaccessible normally.

UnicoFX Review Summary
Founded2023
Registered Country/RegionAustralia
RegulationASIC (Suspicious clone)
Market InstrumentsForex, commodities, indexes, cryptocurrencies and stocks
Demo Account/
LeverageUp to 1:200
Spread/
Trading PlatformWeb-based
Min Deposit$1,000
Customer SupportTel: +853 +44-208-089-82-60, + 74-99-350-92-89, +49-305-900-13-31
Email: contact@unicofx.com
Address: OAKLEIGH SOUTH VIC 3167, MELBOURNE AUSTRALIA

Founded in 2023, UnicoFX is a forex broker registered in Australia, offering trading through web-based platforms, including forex, commodities, indexes, cryptocurrencies and stocks. The minimum deposit provided is $1,000, which is quite high. Besides, UnicoFX is identified as a suspicious clone by the Australia Securities & Investment Commission (ASIC).

Pros and Cons

ProsCons
Various trading optionsInaccessible website
Variety of account typesSuspicious clone ASIC license
Flexible leverage ratiosNo MT4/5
Popular payment optionsHigh minimum deposit
Withdrawal fee charged
Long withdrawal processing time

Is UnicoFX Legit?

No, it is not a legit broker. UnicoFX claims to be regulated by the Australia Securities & Investment Commission (ASIC). However, it's a suspicious clone.

ASIC
The Australia Securities & Investment Commission (ASIC)
Regulatory Status Suspicious Clone
Regulated by Australia
Licensed Institution UNICO AUST PTY LTD
Licensed TypeCommon Business Registration
Licensed Number649 547 571
Suspicious clone ASIC license

What Can I Trade on UnicoFX?

Tradable Instruments Supported
Forex✔
Commodities✔
Indexes✔
Stocks✔
Cryptocurrencies✔
Bonds❌
Options❌
ETFs❌

Account Type

Account TypeMin DepositMax Deposit
Standard$1,000$5,000
Silver $10,000$20,000
Gold$25,000$50,000
Platinum$100,000+

Leverage

UnicoFX offers leverage varies from 1:25 to 1:200 depending on different accounts. UnicoFX claims that it offers leverage of 1:500 in the client area. However, there are no account types in the user area, which is paradoxical between site and user area.

Account TypeMax Leverage
Standard1:25
Silver 1:50
Gold1:100
Platinum1:200

Trading Platform

UnicoFX provides traders with the web-based platform.

Trading PlatformSupported Available Devices Suitable for
Web-based✔Web/
MT4❌/Beginners
MT5❌/Experienced traders
Web-based platform

Deposit and Withdrawal

Payment OptionMin WithdrawalWithdrawal FeeWithdrawal Time
Wire transfers$250/Up to 5 days
Credit/debit$100$35
Bank transfer $50
E-wallets$25

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FX1334588814
more than one year
The worst broker I would not like to mention. They asked extremely high minimum deposit. Once this sum of money is deposited, you can never withdraw it any more. They are a group of shameless people.
The worst broker I would not like to mention. They asked extremely high minimum deposit. Once this sum of money is deposited, you can never withdraw it any more. They are a group of shameless people.
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2023-03-07 12:29
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