UbitMarkets Review - Is It a Safe Forex Broker? - WikiFX

UbitMarkets Information

UbitMarkets is a brokerage company registered in Saint Lucia and offers more than 400 trading instruments for trading. These include forex, stocks, metals, indices and cryptocurrencies.

The broker provides a demo account for practicing before actual trading and it costs 0 to open a live account with them. It allows social trading for beginners to copy strategies from successful predecessors to quickly profit from their trading.

To protect customer funds, UbitMarkets implements segregated accounts to separate client assets from operational funds.

Furthermore, the broker equips traders with necessary skills and knowledges by offering educational resources such as video tutorials, trading guides, webinars and market analysis.

However, one of the facts that cannot be neglected is that the broker is not being well-regulated by any official authorities so far, which degrades its credibility and trustworthiness.

Pros and Cons

Is UbitMarkets Legit?

The most important factor in measuring the safety of a brokerage platform is whether it is formally regulated. UbitMarkets is an unregulated broker, which means that the safety of users' funds and trading activities are not effectively protected. Investors should choose UbitMarkets with caution.

What Can I Trade on UbitMarkets?

UbitMarkets offers 400+ trading instruments 24 hours a day, 7 days a week. These mainly include:

Account Type

UbitMarkets offers demo account with virtual money to practice before commiting real money.

While opening a live account, you don't need to deposit any amount of money.

Leverage

UbitMarkets offers leverage range from 1:100 to 1:1000, basing the account level and your trading volume. Always bear in mind that leverage is a double-edge word which signifies your profits as well as losses at the same level.

Trading Platform

UbitMarkets offers a proprietary trading platform which can be downloaded on Windows. The platform is said to support one click trading, advanced tools and customization options.

Besides, the broker also claims to offer the popular MetaTrader5 platform which is well-acclaimed with its robust functions. It's accessible via web and mobile apps, however, we did not find any access link for this platform on the broker's website. You might need to further explore with their representatives if you are interested in trading with them.

Deposit and Withdrawal

The broker claims to accept all deposit and withdrawal through bank transfers, credit cards, and online payments as well.