UFXONE Review: Ufxone.com is a Dangerous Broker

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UFXONE Review
  • Regulation
  • Fund Safety
0.5

Summary

UFXONE is allegedly offering its services in 85 countries. A broker must seek a license before operating in any jurisdiction. Unfortunately, this company overlooks the requirement by operating as it pleases. 

Scammers are running UFXONE. The person behind the website has not even hired an experienced developer. They do not have a logo and they are using a WordPress one. The entity claims it is an international broker. However, they are not anywhere on the ladder of trustworthy companies. 

UFXONE Review, UFXONE Company

Another feature the scheme brags about is having cutting-edge technology. The platform fails to provide past trading results to prove trading is happening. They list products such as crypto, forex, CFDs, metals, and stocks. 

These products are volatile. The price keeps changing making them risky. Investors can either make huge profits or losses. Therefore, it is important to have adequate skills before investing with any broker. However, scammers persuade investors to start investing without having any prior knowledge. This is why it’s important to choose a genuine and trustworthy crypto platform.

Ufxone.com Review 

Ufxone.com brags it offers a world-class customer support experience. Clients can reach the entity by leaving a WhatsApp message. Note that it is impossible to call the firm. This is dangerous and it raises eyebrows. The majority of scammers use VoIP numbers. They deactivate them once traders start requesting withdrawal. 

UFXONE alleges it is working with experts. Their tech analysis provides market summaries around the clock. Unfortunately, there is no evidence to support these claims. The scheme has not credited its team. They are operating anonymously.

The broker promises unlimited education training and packages. Users can use the resources to polish their trading skills. What we do not know is what the training entails. The company has not provided a course outline to customers. Sham entities provide false information to attract more customers. 

UFXONE Trading Conditions and Accounts 

UFXONE claims it is an award-winning platform. They allegedly have been recognized as the most transparent venture in 2011, best broker in 2016, best broker in 2020, and best broker with excellent customer support in 2022. This is unethical marketing since ufxone.com was not established till 2023. 

Ufxone.com Review, Ufxone.com Features

The company uses the Xone trading interface. It offers unprofitable spreads of 2 pips and 1:500 leverage. Some genuine companies with better trading conditions also accept minimum capital of less than $200. 

Withdrawal and Deposits 

Investors can only find their accounts using cryptocurrencies. The least withdrawable amount is $100 with a fee of $10. Legit investment schemes rarely charge clients for withdrawal. They also don’t set limits on the amount customers can cash out. 

UFXONE Regulation Status 

UFXONE is allegedly offering its services in 85 countries. A broker must seek a license before operating in any jurisdiction. Unfortunately, this company overlooks the requirement by operating as it pleases. 

Multiple regulatory bodies in the market ensure brokers provide a conducive trading platform. These include; the Financial Conduct Authority (FCA) of the United Kingdom, the Cyprus Security Exchange Commission (CySEC), the Australian Security Investment Commission (ASIC), the European Security Market Authority (ESMA), the Commission Future Trading Commission (CFTC) and National Future Association (NFA) of the United States. 

These financial watchdogs set strict measures for investment companies. Companies must operate in full transparency by providing information about the qualification and identity of their team. 

Depending on the country in which a broker operates it must meet particular capital. The amount is usually high for instance in the UK it is 730,000 EUR while in the USA it is $20,000,000. The rule is to make sure a broker has adequate funds to run its business without defrauding traders. 

Final Verdict

UFXONE is a suspicious and shady broker that will soon exit the industry. The entity is exposed by Cyprus financial watchdog. They also offer ridiculous bonuses to attract more victims. 

Refrain from dealing with the scheme and choose a trustworthy crypto company. You get to enjoy the safety of your money and a fast withdrawal process. 

 

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