BIG UNCLE -Some important Details about This Broker

Note: BIG UNCLE's official website - https://www.biguncle.uk/ is currently inaccessible normally.

Registered in China in 2012, BIG UNCLE is considered a high-risk and avoidable offshore company due to potential regulatory issues. It requires a high minimum deposit of $100 and offers leverage up to 1:500. In addition, its official website is currently inaccessible, and no information about trading options can be obtained as a result.

Pros and Cons

Is BIG UNCLE Legit?

BIG UNCLE is completely unregulated. In addition, it has misrepresented its address, pretending to operate in the UK, yet the company lacks a license from the UK's market regulator, the Financial Conduct Authority (FCA), posing a clear danger to investors.

Leverage

BIG UNCLE offers selectable leverage ranging from 1:100 to 1:500. Even the minimum leverage reaches up to 1:100, which further confirms that we are not dealing with a regulated UK broker. In the UK, licensed brokers are not allowed to provide leverage higher than 1:30 to retail clients, as high leverage exposes traders to significant risks.

Trading Platform

BIG UNCLE offers a distribution of the industry-standard trading platform, Metatrader 5. However, upon installation, we found that it was the generic version of MT5, which can be downloaded completely free of charge from the MetaQuotes website. This implies that BIG UNCLE does not have its own MT5 terminal and you cannot trade with them through this platform.

Deposit and Withdrawal

BIG UNCLE only accepts deposits made through various cryptocurrency assets. This means that refunds cannot be requested, a common tactic employed by fraudulent brokers.

As for the minimum deposit amount of $100, it is excessively high, as legitimate brokers typically charge no more than $10 for their micro accounts.