UNIQUE FXTRADE

Overview of UNIQUE FXTRADE

UNIQUE FXTRADE is a trading platform based in the United States with a track record of 2-5 years. However, it lacks essential regulatory oversight, casting doubt on its credibility and safety as a trading platform. The absence of regulatory safeguards is a cause for concern, and traders are advised to exercise caution when considering this broker.

In terms of market instruments, UNIQUE FXTRADE offers a variety of trading options, including Spot, Forwards, Swaps, Options, and NDFS, covering both major and minor currency pairs. The broker also provides different account types, such as Standard, ECN, MAM/PAMM, and Islamic accounts, along with demo accounts for practice. Leverage of up to 1:500 is available, enabling traders to significantly amplify their positions. Spreads start at 1.0 pips for standard accounts and 0.0 pips for ECN accounts, with no commissions.

While UNIQUE FXTRADE offers diverse trading opportunities and flexible account options, its lack of regulatory oversight raises concerns about its legitimacy and safety. Traders should carefully evaluate the risks associated with this broker and consider alternative options with established regulatory protections.

Pros and Cons

UNIQUE FXTRADE presents several advantages, including a diverse range of trading options, multiple account types, and high leverage of up to 1:500. Additionally, it offers e spreads starting from 0 pips and various deposit and withdrawal methods. Traders can access user-friendly platforms like WebTrader and a mobile app with low spreads. However, it's important to note that UNIQUE FXTRADE lacks regulatory oversight, which raises safety concerns. Furthermore, there is limited information available about account features, trading fees, and commissions. The absence of specified withdrawal fees and the temporary unavailability of the main website add to the list of drawbacks. Lastly, a negative review on WikiFX mentioning pyramid scheme complaints is cause for concern.

Is UNIQUE FXTRADE Legit？

UNIQUE FXTRADE lacks valid regulatory oversight, raising concerns regarding its credibility and safety as a trading platform. Traders should exercise caution when considering this broker due to the absence of regulatory safeguards.

Market Instruments

SPOT:

UNIQUE FXTRADE provides Spot trading options, including major currency pairs like EUR/USD, USD/JPY, GBP/USD, AUD/USD, and NZD/USD. They also offer trading in minor currency pairs such as CAD/USD, CHF/USD, TRY/USD, RUB/USD, and CNH/USD.

FORWARDS:

In addition to Spot trading, UNIQUE FXTRADE offers Forwards trading, which includes major currency pairs like EUR/USD, USD/JPY, GBP/USD, AUD/USD, and NZD/USD. They also provide Forwards for minor currency pairs such as CAD/USD, CHF/USD, TRY/USD, RUB/USD, and CNH/USD, with the flexibility to choose custom maturities ranging from 1 to 24 months.

SWAPS:

The platform also facilitates Swaps trading, encompassing major currency pairs like EUR/USD, USD/JPY, GBP/USD, AUD/USD, and NZD/USD. Swaps are available for minor currency pairs such as CAD/USD, CHF/USD, TRY/USD, RUB/USD, and CNH/USD. Additionally, UNIQUE FXTRADE offers Cross-currency swaps involving pairs like EUR/JPY, USD/CHF, GBP/CHF, AUD/CHF, and NZD/CHF.

OPTIONS:

UNIQUE FXTRADE provides various options trading opportunities, including Call and Put options on major currency pairs like EUR/USD, USD/JPY, GBP/USD, AUD/USD, and NZD/USD. They also offer Barrier options, including knock-in, knock-out, one-touch, and no-touch options, as well as Spread options such as butterfly, straddle, and strangle.

NDFS:

For traders interested in Non-Deliverable Forwards (NDFs), UNIQUE FXTRADE offers options involving emerging market currencies like INR/USD, BRL/USD, MXN/USD, and ZAR/USD. Moreover, they allow trading with custom currencies that are not listed on the spot market, providing a diverse range of NDF trading opportunities.

Pros and Cons

Account Types

Standard accounts at UNIQUE FXTRADE offer fixed and variable spreads starting from 1.0 pips. Traders can utilize leverage of up to 1:500 and access various trading instruments. The account includes free trading signals and educational resources.

ECN accounts provide raw spreads starting from 0.0 pips and do not charge any commissions. These accounts are particularly suitable for experienced traders who engage in high trading volumes.

MAM/PAMM accounts enable traders to manage multiple accounts concurrently. These accounts are designed for experienced traders interested in building a managed fund or copying strategies from other traders.

Islamic accounts cater to traders who follow Islamic law, as they do not impose swap fees, making them suitable for those seeking Sharia-compliant trading options.

Demo accounts are provided for practice purposes and allow traders to hone their skills without risking real money.

Leverage

UNIQUE FXTRADE offers leverage of up to 1:500, providing traders with the opportunity to amplify their trading positions significantly.

Spreads & Commissions

UNIQUE FXTRADE offers spreads starting at 1.0 pips for standard accounts, and for ECN accounts, raw spreads begin at 0.0 pips with no commissions.

Minimum Deposit

UNIQUE FXTRADE's minimum deposit requirement is $200 for all trading account types.

Deposit & Withdrawal

UNIQUE FXTRADE offers a variety of deposit and withdrawal methods, including credit/debit cards, bank transfers, electronic wallets and cryptocurrencies. There are no deposit fees, and withdrawal fees range from 0-50 USD. The maximum withdrawal amount per day is 100,000 USD, and processing times typically take 1-3 business days.

Trading Platforms

WebTrader offers real-time market data and charting for over 50 currency pairs, along with order execution featuring spreads as low as 0.0 pips. Traders can access risk management tools and utilize various technical analysis indicators on this platform.

The mobile app provides real-time market data and charting for more than 20 currency pairs, with order execution having spreads as low as 0.2 pips. It includes risk management tools and technical analysis indicators for on-the-go trading.

The Trading Station offers advanced charting tools and a customizable layout. It also supports multiple account management, allowing traders to oversee their portfolios.

Customer Support

Specific information about the customer support services provided by UNIQUE FXTRADE is not available at this time.

Reviews

There is limited information available on UNIQUE FXTRADE's reviews on WikiFX, with a total of one exposure. The exposure indicates pyramid scheme complaints, scams, and allegations of continuously requesting additional funds after initial investments. One review from December 23, 2020, raises concerns about the legitimacy of the broker.

Conclusion

In evaluating UNIQUE FXTRADE, it's important to note both its advantages and disadvantages. On the positive side, the platform offers a variety of trading instruments, including spot, forwards, swaps, options, and NDFs, catering to a diverse range of trading preferences. Additionally, the leverage provided can be significant at up to 1:500, allowing for amplified trading positions. However, there are notable drawbacks to consider. The absence of valid regulatory oversight raises concerns about the platform's credibility and safety. Moreover, limited information on customer support services and concerning reviews regarding pyramid schemes and alleged fund requests after initial investments further underscore the need for caution when considering UNIQUE FXTRADE as a trading platform. Traders should exercise discretion and thorough due diligence before engaging with this broker.

FAQs

Q: Is UNIQUE FXTRADE a regulated trading platform？

A: No, UNIQUE FXTRADE lacks valid regulatory oversight, which raises concerns about its credibility and safety as a trading platform.

Q: What types of trading instruments does UNIQUE FXTRADE offer？

A: UNIQUE FXTRADE provides a wide range of trading instruments, including Spot, Forwards, Swaps, Options, and Non-Deliverable Forwards (NDFs) involving various currency pairs.

Q: What are the different account types available at UNIQUE FXTRADE？

A: UNIQUE FXTRADE offers Standard, ECN, MAM/PAMM, Islamic, and Demo accounts, catering to a variety of trading preferences and strategies.

Q: What is the maximum leverage offered by UNIQUE FXTRADE？

A: UNIQUE FXTRADE offers leverage of up to 1:500, allowing traders to amplify their positions significantly.

Q: What are the deposit and withdrawal options at UNIQUE FXTRADE？

A: UNIQUE FXTRADE offers a range of deposit and withdrawal methods, including credit/debit cards, bank transfers, electronic wallets, and cryptocurrencies, with no deposit fees and varying withdrawal fees.