Ultimate Global Exhange Review – 5 things you should know about ultimateglobalexhange.com

Beware! Ultimate Global Exhange is an offshore broker! Your investment may be at risk.

RECOMMENDED FOREX BROKERS

Visit Site

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Ultimate Global Exhange does not seem like a legitimate broker – even initially. This fraudelent enterprise tries to lie about being regulated in the EU – and that is already enough to conclude that this is not a broker you can trust. The problems do not stop there – this broker does not in fact offer its clients a functional trading platform or the possibilty to trade which makes opening an account quite pointless. Read our full review below.

Ultimate Global Exhange Regulation and safety of funds

Ultimate Global Exhange claims to be regulated in Malta while silmultaniously being based in the US. No broker can offer services in the US without local authorization which means that if this one does, they are doing so illegally. Moreover, the broker is not licensed in Malta by the MFSA as they claim. When we checked the license number the broker has provided, we discovered that they are in no way regulated.

This proves that the broker has lied about something extremelly important – being licensed. You cannot trust brokers that make false claims in this regard because this is a clear indicator that there is something wrong going on.If you choose to work with an unlicensed broker, you would not be able to get access to all the protections clients of regulated brokers get.

EU brokers are a solid choice because they have to answer and report to merciless authorities, and meet many requirements before obtaining a license. To begin with, companies have to prove that they are financially stable by maintaining a minimum capital of €730 000. However, brokers with more clients might be asked to hold as much as a few million. Negative balance protection prevents you from losing more money than you have in your account and client money is kept in segregated accounts. This mostly proves that the broker would not be able to use your investment for any other purposes, but also speeds up withdrawals. EU brokers participate in compensation funds – so if your broker becomes insolvent, you could receive a compensation of up to €20 000. Some additional protections – leverage restrictions, bans on bonuses and binary options – protect investors from scams and from losses bigger than they can handle.

Ultimate Global Exhange Trading Software

Supposedly, Ultimate Global Exhange offers the leading trading platform MetaTrader 5. However, it was completely impossible to access the platform through their website or client area. In the end, it turned out that the broker does not really offer MT5 – or any other functional trading platform. The only thing we were provided with when we opened an account with the broker was a chart tracking different markets. However, this does not mean that you would be able to trade with this broker. And since you would not be able to do that, opening an account with them is pointless – the whole point of forex brokers is that you would be given the chance to trade.

We would suggest that you try an advanced platform like MetaTrader 4 or MetaTrader 5 instead of dealing with the rudimentary software such scammers usually can offer. Both versions of MT offer not only a huge variety of charting and analysis tools but also advanced features like Expert Advisors, Strategy Testers, signals (and the ability to subscribe to signals set by other traders), a market for add-ons, and much more. All the while being intuitive and accessible. Don’t hesitate to open a demo account with one of the many legitimate brokers who offer the MT software.

Ultimate Global Exhange Trading instruments

Since Ultimate Global Exhange does not offer its clients the possibility to trade, talking about available trading instruments is quite pointless. Such things are only relevant when the broker actually provides access to a platform.

Ultimate Global Exhange Spreads and cost of trading

Spreads are another catagory that is quite irrelevant without a functional trading platform. Moreover, it does not matter what amazing spreads a broker offers if they are nothing more but a scam. Some of the best brokers in the industy offer very low-cost trading so our advice is to check out some of their offers.

Ultimate Global Exhange Maximum leverage

Ultimate Global Exhange stated that it allows you to trade indices with leverage of up to 1:20. That is actually quite high considering the fact that strict jurisdictions like the UK, the EU, and Australia ban brokers from offering leverage higher than 1:10 on indices to retail traders. No information was provided about maximum leverage on other trading instruments. However, we would once again like to remind you that trading with this broker would actually be impossible so their promises of high leverage are irrelevant.

There is a good reason why leverage restictions exist in so many jurisdictions. Trading with high rates might indead result in bigger profits – but it can also lead to bigger, faster losses. That is why we always suggest that you are careful with your leverage settings and only trade with rates you are sure you can handle.

Ultimate Global Exhange Deposit and withdrawal methods

Ultimate Global Exhange only accepts deposits in crypto – in Bitcoin, Ethereum, Bitcoin Cash, and Tether. This is just another huge red flag. Scammers would often urge you to deposit in crypto for a very specific reason. Such transactions are both anonymous and irreversable. This means you would not be able to get a chargeback on your payment, or track it to a specific person or organisation. For the scammers, this is perfect – so we would think twice before depositing.

Ultimate Global Exhange Minimum deposit

Ultimate Global Exhange requires a minimum deposit of $500 which we would call higher than average. Many legitimate enterprises would open an account for much less – even for as little as $10.

Ultimate Global Exhange Withdrawal requirements

Ultimate Global Exhange did not mention any specific withdrawal requirments in its brief Terms and Conditions but we will be quick to remind you that many scammers do have some very specific clauses in this regard. They might ask you to reach huge trading volume thresholds before allowing you to withdraw, or charge you insane withdrawal fees of 20%. That is why it is important to be careful and avoid doing business with such brokers.