Universal Global FX Review – Pack Of Thieving Hyenas After Your Money
Universal Global FX is a relatively unknown CFD and FX trading platform. Their website is plain, simple and packed to the brim with the soulless corporate imagery, likes of which we have seen on many social networks over the years.
This anonymity is not a sign of poor corporate performance, however. The business this firm is running is quite successful, albeit for all the wrong reasons. Our Universal Global FX Review will show you how these predators line their wallets with stolen money.
|Is This Company Safe?||No, this company is operating without authorization|
|Have Warnings from:||N/A|
|Registered in:||Ukraine (alleged)|
|Trading Platforms:||Web Trader|
|Trading Assets:||Forex, Crypto, Stocks, Commodities, Indices|
|Free Demo Account:||Available|
|How to Withdraw from This Company?||Unregulated brokers are unlikely to return your money. Seek legal assistance from your bank, financial regulator, or book our services in order to begin a chargeback process.|
About Universal Global FX Fake License
Universal Global FX claims to be regulated by Vincent Spherical Sector Conduct Authority, with a license number 191/12. This VSSCA is not a government or an independent regulatory agency. Instead, they are a known fraudulent entity that issues fake licenses to equally illicit companies. These so-called licenses carry no legal or financial weight, and are in no way proof of company legality.
We can’t stress enough how important it is for a broker to be regulated and authorized for their services. Many financial regulators have imposed strict rules on what a broker must provide in order to mitigate the huge risks involved with CFD and FX trading. These conditions can range from leverage restriction, to negative balance protection and segregated bank accounts to name the few.
The main corporate HQ of Universal Global FX is allegedly in Kyiv, Ukraine. This would mean that they fall under the jurisdiction of the NBU, main Ukrainian financial regulator. Our inquiry into the NBU databases returned no results, meaning the company is not registered or regulated in the Ukraine. The same was true with BaFIN, CySEC, FCA, FINMA, CBR and ASIC.
The Scam Is Most Active In Europe
Universal Global FX is keeping a low profile. The scam platform was first launched in 2021, but has managed to avoid detection from the authorities so far. We know the truth behind this company, however.
These are the Universal Global FX main hunting grounds:
Do not shy away from legal action if you have been defrauded by these swindlers. We provide recovery assistance for the victims of such fraudulent companies.
Trading Costs On Universal Global FX
You’d expect 1.0 Pips or below from a regulated broker, but Universal Global FX scam has spreads of 71344 Pips for some currency pairs! The lowest spread we could find when it comes to FX is 12 Pips, for EUR/USD, which is still insanely pricey.
Leverage on this platform is also very high, starting from 1:200 up to 1:400 which is over the 1:30 limit in the EU. Some victims of the Universal Global FX scam have told us that the company asked for 3% of the trading volume to be paid up front in order to withdraw. Unfortunately, the site universalglobalfx.com does nothing to corroborate or disprove this claim.
Trading Features On Universal Global FX
Investigating the trading features of this company turned out to be an arduous task. The company only offers false advertisements about their alleged achievements, with little tangible data. Many other scam entities like CIBFX hide much of the information from their clients as well.
There is concrete information about account types and trading platforms. Our Universal Global FX Review will disclose them in as much detail as possible.
Main Trading Software
The main trading platform on Universal Global FX is called MTR. This is just another name for a Web Trader. All scammers, including CMMCI Securities we reviewed before, claim their Web Trader to be the ultimate software. Ultimate for fraudulent activities, perhaps, but for trading it’s a far cry from cTrader, MT4 or MT5.
There Is An Android App As Well
This faux broker features a mobile trading app, with the creative name of Universal Global. It is only available for Android users, and the iOS version is said to be “coming soon”. The app doesn’t have a rating on Google Play. It has been downloaded less than 100 times, which tells us that the Universal Global FX claim of 274 000 users is an outright lie.
Trading Assets Diversity
You won’t find information about trading instruments on universalglobalfx.com. You need to create a Universal Global FX Login first, and access the Web Trader.
Here is the abbreviated list of different trading assets:
- Forex (EUR/USD, USD/JPY, GBP/CHF, AUD/CAD)
- Cryptocurrencies (Bitcoin, Ethereum, DogeCoin, Ripple)
- Stocks (Facebook, Caterpillar, Pfizer, Coca-Cola)
- Indices (Dow Jones, Nikkei, Hang Seng, DAX)
- Commodities (Brent, Natural Gas, Cocoa, Coffee)
Trading Accounts At Universal Global FX
The selection of trading accounts is not very diverse. These are what we call “tiered accounts”, which offer almost completely the same trading conditions. The only variable is in the minimum deposit amount.
Universal Global FX offers these types of accounts:
- Basic – $500 min. deposit, leverage up to 1:200
- Gold – $5 000 min. deposit, leverage up to 1:400
- Diamond – $10 000 min. deposit, leverage 1:400
Demo Account Is Available
Universal Global FX offers a demo account. The amount of virtual currency available to the clients is $10 000, which is in line with the Diamond account. Trading conditions are not the same with the Demo and Live accounts. Maximum leverage is set at 1:100, and this means that the clients will not be able to use it for precise marketing conditions examination.
Education Is Below Any Quality Line
We can only describe the Universal Global FX education as shabby. Only the most basic introduction to trading is available. There are no advanced tutorials, only basic articles. There is some market analysis available, but hardly something a professional will find acceptable.
Universal Global FX Withdrawal Policy
The company website does not have a Terms and Conditions document. Even if it had one, scammers are known to blatantly ignore any customer agreement. Many people have told us that this company doesn’t let them withdraw at all, and if they complain, their account gets deleted from the platform.
Contact us for legal support in case you have any issues with Universal Global FX withdrawal.
Customer support is allegedly available through live chat, call back or email. This is unfortunately not the case. There is no multilingual support, as it is only available in Turkish language. Nobody ever returned our emails, and we never received that call back. When it comes to Live Chat, only the chatbot was available, and we weren’t connected to an actual person.
Universal Global FX Shows Bleak Prospects
The company Universal Global FX is a scam with no redeeming qualities. This broker outright lies to their clients, and robs them blind. The agency that allegedly regulates them is equally fishy as the broker itself. Trading conditions are incredibly costly.
Being defrauded by professional con artists like this firm is nothing to be ashamed of. Our legal experts have become notorious with scammers because of our high recovery success rate. Don’t delay – contact us through the Live Chat and book a free consultation today.
Is Universal Global FX Legit or Scam?
Universal Global FX is a fraudulent company. Their only goal is to steal the client’s money.
What Are Universal Global FX Trading Conditions?
The spreads with this faux broker are unlike anything we have seen before. Every aspect of trading through Universal Global FX will lead to inevitable asset loss.
What Are Universal Global FX Withdraw Methods And Fees?
Universal Global FX does not disclose any withdrawal conditions, or fees. If you have troubles withdrawing from this platform, consider seeking our legal aid in recovering the lost money.