Unicorn Broker-Overview of Minimum Deposit, Spreads & Leverage

General Information

Founded in 2016, Unicorn Brokers is allegedly a broker based in Canada that provides its clients with the worlds most popular MetaTrader4 trading platform, leverage up to 1:500, low spreads on a variety of tradable assets, as well as a choice of four different account types.

Market Instruments

Unicorn Brokers advertises that it offers a wide range of trading instruments in financial markets, including forex currency pairs, CFDs on commodities, indices, precious metals, stocks and cryptocurrencies of Bitcoin and others.

Account Types

There are four live trading accounts offered by Unicorn Brokers, namely Alpha, Beta, Gamma and PAMM/MAMM. Opening an Alpha account requires the minimum initial deposit amount of $20, while the other three account types with the minimum initial capital requirements of $500, $20,000 and $500 respectively.

Leverage

Traders holding different account types can experience quite different maximum leverage ratios. Clients on the Alpha account can enjoy the maximum leverage as high as 1:500, the Beta account can experience the leverage up to 1:400, while the Gamma account with a leverage of 1:200 and the PAMM/MAMM account with a leverage of 1:100. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads

As we tested on Unicorn Brokers MetaTrader4 trading platform, we found the spread for EUR/USD pair fixed at 0.8 pips. Other more detailed information is not involved directly on its official website.

Trading Platform Available

When it comes to trading platforms available,Unicorn Brokers gives traders the worlds most widely-used MeteTrader4 platform, available on desktop, the Web and mobile devices. MT4 is known as one of the most successful, efficient, and competent forex trading software, equipped with advanced charting packages, numerous technical analysis indicators, automated strategies and customization options. While with MT4 Mobile apps, trading can be done from anywhere and at any time through the right mobile terminals.

Deposit & Withdrawal

The only useful information we get from the Internet is that Unicorn Brokers doesn‘t accept deposits or withdrawals with popular methods of Skrill. Unluckily, we didn’t find out the payment methods the broker accepts. The minimum deposit amount is $20.

Customer Support

Unicorn Brokers‘ customer support can be reached through telephone: 17783022532, email: Support@unfxb.com. Besides, you can also follow this broker on some social media platforms like Twitter and Facebook. However, this broker doesn’t disclose other more direct contact information like company address while most brokers offer.