Uniquefxtrades.net review – 5 things you should know about Uniquefx Trades

Beware! Uniquefxtrades.net is an offshore broker! Your investment may be at risk.

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

Uniquefxtrades.net, or Uniquefx Trades, is neither unique nor offers forex trading. In fact, it is yet another reincarnation of a well-known fraudulent scheme. In this review, we will present the evidence that the sole purpose of Uniquefxtrades.net is to scam you out of your money.

Uniquefxtrades.net Regulation and safety of funds

If a financial services provider is legitimate, you will find on its website clear and detailed information about the company that owns and operates it, where it is based, and what licences it has. Genuine brokers also provide access to a comprehensive set of legal documentation. The availability of such information does not guarantee that it is not false or misleading. But the absence of these elements is very indicative that in all likelihood you are dealing with scammers.

According to the homepage of the website, this alleged broker is run by a company called Unique Fx Ltd, which is based and licensed in the UK.

However, a check of the UK’s Financial Conduct Authority (FCA)’s register does not find a licence, but a warning that the Uniquefxtrades.net is not authorised.

However, the Terms and Conditions and FAQ section are on behalf of a different company – Auto5CryptoFxPro LTD. The same company is listed as the owner of two other fake brokers we have reviewed, Auto5CryptoFxPro and Stocksbit FXTraders. Apparently all three websites are the work of the same scammers.

Before investing your money in financial instruments, it is imperative to make sure you do so through a licensed intermediary and not one of the many scammers lurking online.

If you want to trade on financial markets without being scammed, you can turn to some of the legitimate brokers that actually operate from established financial hubs like the UK. These brokers have to meet stringent requirements for financial stability and transparency of operations imposed by the Financial Conduct Authority (FCA). They must provide clients with negative balance protection and to participate in a guarantee fund that covers up to GBP 85,000 of a client’s investment should the broker go into insolvency. These brokers are also required to keep their clients’ money segregated from their own operating funds in separate bank accounts.

Uniquefxtrades.net Trading software

Another clear proof that we are dealing with fraud is that Uniquefxtrades.net does not have any kind of trading software. This alleged broker has no technical capacity to facilitate trading in financial instruments.

If you use the services of a licensed broker, you will get the opportunity to use established software with advanced features and versions for all types of devices and operating systems. The most widely used trading platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

Uniquefxtrades.net Trading instruments

The home page of the website advertises forex, binary options and cryptocurrency trading.

The latter two types of trading are banned by the FCA, so these claims reinforce the argument that Uniquefxtrades.net is not what it claims to be.

Uniquefxtrades.net Spreads and cost of trading

When you visit the website of a legitimate broker you will find proposals for different types of trading accounts suitable for investors with different preferences, as well as detailed descriptions of trading parameters – minimum deposit, order execution method, tradable financial instruments, leverage, spread, swap, commissions, etc.

We see a list of investment plans on the Uniquefxtrades.net  website, but their descriptions lack specific information about the conditions attached to them.

Uniquefxtrades.net Maximum leverage

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders. The FCA, like EU regulators, limits leverage to 1:30 for trading in major currency pairs and even lower levels for more volatile assets.

Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.

If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

Uniquefxtrades.net Deposit and withdrawal methods

The website advertises popular payment names, but in the deposit menu itself the only option is cryptocurrencies.

Scammers prefer cryptocurrencies because these transactions are not subject to refunds. While there are some legitimate brokers that accept digital currencies like Bitcoin, they do so alongside other transparent payment methods such as credit/debit card, bank transfer or popular e-wallets like PayPal, Neteller or Skrill.

Uniquefxtrades.net Minimum deposit

The FAQ section states a minimum deposit of 300 USD, but the descriptions of the investment plans state a higher amount of 500 USD. You should know that for a significantly lower amount you could open a trading account with a duly licensed and established forex broker.

Uniquefxtrades.net Withdrawal requirements

The Website Terms and Conditions state that any deposit will be considered a private transaction. This means that the customer waives all rights and protections.