Trade Unity review – 5 things you should know about tradeunity.co

Trade Unity review – 5 things you should know about tradeunity.co

Rating: 1

Beware! Trade Unity  is an offshore broker! Your investment may be at risk.

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There was never a moment of doubt that Trade Unity was anything but the purest of investment scams. From the very first moment of opening it, to the last closing line of the review, we felt a distinguished disregard for the entire broker and its lies. But at least Trade Unity made it easier on us by being a simple scam, with no complicate schemes to make things obscure. Read the review to find out what we know.

First and foremost, there was no way to open an account, at least for us, because the company told us that we gave a wrong password, and that’s in the sign up page! It’s our chosen pass, how could it be wrong? There’s no reason for it to be.

Anyway, seeing as the broker does not want us snooping around in its user area, we have no choice but to turn to the website. There, we are told that the available markets to trade with are forex currency pairs, commodities, shares, and indices. There are a couple of account types advertised, but from experience we know that very few shady brokers actually offer account tiers, and Trade Unity does not seem to be one of these. Moreover, during the sign up process there were no account types.

The leverage is capped at 1:200 for starter account, and there was no spread anywhere

TRADE UNITY REGULATION AND SAFETY OF FUNDS

As far as we’re concerned, there are absolutely no legal details anywhere on the website, not even contact details, to give us some contextual ground on what is just going on here. We rigorously checked for a claim to a license, or some registration address but nothing was there. To add further salt to the wound,  there is a considerable lack of another major element, the legal provisions. So, the broker, on top of not being regulated, does not provide any legal safety net to users in the form of legal documents; in the case of a conflict between the two parties it would be foolish to think that the client stands a chance.

So no legal docs, no address, and no license, all disastrous aspects of Trade Unity, but the worst by far is that the firm is ultimately anonymous and very difficult to trace. All investments or data exchanged between the two will be lost and for sure used to force the client’s hand. Do not even think of investing in this scammer broker because it is a risk to all!

Always aim to invest in regulated brokers, and not illicit ones. It may not be easy to distinguish them from one another, but there is a way to make the process much easier. The crucial point is to check the legitimacy of the broker’s regulatory or registration claim. If nothing’s there, you close the site and move on to any EuropeanUKUS, or Australian broker, or any other with a legal status. Being regulated is not just encompassed in a simple permission to offer FX trading service. It comes with a ton of responsibilities, most of which are concerned with the way the broker treats its users. Misconduct on the side of the broker either results in financial penalties or in total closures of the brokerage website in question.

TRADE UNITY TRADING SOFTWARE

There is a certain web trader being promoted on the site, but it might as well be a ticket to the moon. In fact, it’s more likely a ticket than a decent web trader, because experience has taught us to expect the worst with unlicensed brokers.

And, who’s even to say that there is a web trader at all! Many scammer lie and get away with it. And lastly, even if there is one we still would be against investing in this  scam!

TRADE UNITY DEPOSIT0WITHDRAW METHODS AND FEES

According to the website, the minimum deposit is €250, but really, it could be anything. There no reason to trust the site even with this detail. And even if you were to put your trust in it, it would disappoint you, for there are no further payment conditions revealed anywhere.

There is an obvious lack of withdrawal details, which leads us to believe that the user will not be able to take any money out; and speaking objectively why would he? The broker is a scam and all that money is its profit.

Again we come to the scammer nature of Trade Unity, and to the verdict that all investments here are at a risk.

HOW DOES THE SCAM WORK

Scammers use a couple of tricks that make up a big scheme that has not changed since its inception, meaning that it’s fairly easy to avoid it.

The fraud starts when the broker contacts the user, who has unknowingly provided his or her contact details in the past through some seemingly innocent channel.

Communicating with the broker might seem like a pleasant experience as the other side sweettalks its way to your wallet. The reason why most frauds target non-trading audiences is because they are more susceptible to this kind of verbal manipulation. Otherwise, users might start receiving emails with unbelievable good investment deals, none of which are actually lucrative.

The tipping point is the first deposit that scammers are so eager to sell. After this first investment, the user has fallen into the clutches of the fraudster. Either he will be pushed to invest more by false promises of further “profit”, or the client will want to get back his initial deposit, a request to which he is told that further investments are needed.

On whichever side of the coin you the user is, she will most likely never be able to withdrawal. All withdrawal requests will be denied for a plethora of equally ludicrous reasons.

WHAT TO DO IF SCAMMED

Once scammed, your safest bet is a chargeback. Contact your credit or debit card company and move on from there. It’s good to know that MasterCard and VISA have a chargeback period of 540 days.

Bank investments are more difficult to reimburse but not impossible. Most banks have some sort of strategy for dealing with lost capital, so the client’s best bet is to contact her corresponding bank and proceed from there according to the bank’s plan of action. We also recommend that users change their bank account username and password if defrauded.

As for crypto investments, it is unfortunate to say but there is no real way of getting lost money back through these channels. All crypto investments are untraceable, and there is no telling where the investor’s funds will end up.

Don’t trust recovery agents or agencies. These are either independent scammer looking to charge users “service fees”, or extensions of illicit broker schemes.

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