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UNforex

Australia|5-10 years|
Common Business Registration|MT4 Full License|Regional Brokers|Suspicious Overrun|High potential risk|

https://www.unforex.com/?lang=en

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

5
Server Name
UNFX-Live MT4
Server Location China

Contact

support@UNforex.com
https://www.unforex.com/?lang=en
https://www.facebook.com/Unforex-101457435532309
https://twitter.com/NforexU

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

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40G

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Broker Information

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Warning: Low score, please stay away! 2
Previous Detection : 2024-11-21
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!
  • This broker exceeds the business scope regulated by Australia ASIC(license number: 628606897)Administration of Industry and Commerce-Register Non-Forex License. Please be aware of the risk!

WikiFX Verification

UNforex · WikiFX Survey
Danger A Visit to UNforex in Australia – No Office Found
Australia

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UNforex · Company Summary

UNforex Review Summary
Founded2017
Registered Country/RegionAustralia
RegulationASIC (Exceeded)
Market InstrumentsForex, CFDs on indices, commodities, cryptos
Demo Account/
EUR/USD Spread2.7 pips (Standard account)
LeverageUp to 1:500
Minimum Deposit$1 000
Trading PlatformMT4
Customer SupportAddress: Suite 408/56 Berry Street, North Sydney NSW 2060, Australia
Tel: +61 2 87895088
Email: support@unforex.com
Social media: Facebook, Twitter, LinkedIn, YouTube
Restricted AreasUnited States of America, Canada, EU countries, Iran, North Korea, and Belize

UNforex Information

UNforex is a brokerage company firstly registered in 2017 with its office in Australia. The broker offers services in trading for forex, CFDs on indices, commodities and cryptocurrencies. Trades can be executed via the advanced MT4 platform for enhanced trader experience. Besides, the broker also offers a proprietary “UMAM system” developed for professional asset managers. Moreover, protection measures such as fund segregation ensures safety of customers assets even during the insolvency of the company.

There are 3 tiered live accounts, however, minimum deposit requirement is $1 000, which is a high barrier for beginners or those with limited capital.

Furthermore, exceeding the regulation set by the Australia Securities & Investment Commission (ASIC) indicates that the broker's business activities might be in violation of the institution's standards.

UNforex's homepage

Pros and Cons

ProsCons
Multiple account typesExceeded ASIC regulation
MT4 trading platformWide spreads
UMAM systemHigh minimum deposit
Fund segregationRestrictions in some countries

Is UNforex Legit?

UNforex exceeds the regulation by ASIC (Australia Securities & Investment Commission), with a license number of 628606897. This indicates that the broker's activities may be operating outside the bounds of the institution's regulatory compliance, adding significant risks for traders to invest with them.

Regulated CountryRegulatorRegulatory StatusRegulated EntityLicense TypeLicense Number
ASICExceededUNFOREX PTY LTDCommon Business Registration628606897

What Can I Trade on UNforex?

Tradable InstrumentsSupported
Forex
CFDs
Commodities
Indices
Cryptocurrencies
Stocks
Bonds
Options
ETFs
What Can I Trade on UNforex?

Account Type/Fees

UNforex does not provide a demo account for practicing as many peer brokers. However, there are 3 tiered live accounts available for traders to choose from based on their trading preferences.

  • Standard account: Usually set for beginners, requires a minimum deposit of $1000, and offers a floating spread from 2.7 pips for EUR/USD.
  • VIP account: Same entry point with $1000, but has tighter spread from 1.8 pips for EUR/USD.
  • PRO account: You need to deposit at least $5000 to activate this account to enjoy the tightest spread from 0.5 pips for EUR/USD and the largest maximum position at 120 lots.
Account TypeMin DepositEUR/USD SpreadMax Position
Standard$1 0002.7 pips60 lots
VIP$1 0001.8 pips60 lots
PRO$5 0000.5 pips120 lots
Account comparison

Leverage

Leverage is a kind of trading tool to enable you to control larger positions with small initial capital. Default leverage of UNforex is 1:100 and can be as large as 1:500.

But it's always suggested to use leverage prudently since it not only amplifies gains, but losses at the same time.

Trading Platform

UNforex offers the industry-leading MetaTrader 4 platform renowned worldwide for its robust functions such as automated trade execution, analysis charting tools and market updates, etc.

You can download the app version from Windows, iOS and Android devices.

Trading PlatformSupportedAvailable DevicesSuitable for
MT4Windows, iOS and AndroidBeginners
MT5/Experienced traders
MT4

Deposit & Withdrawal

UNforex accepts payments through bank wire, banking online and USDT.

Deposits can be made 24 hours a day, 7 days a week. And the broker processes withdrawals quickly within 24 hours after verification from clients.

UMAM System

UNforex offers a proprietary UMAM system developed for professional asset managers. The system enables asset managers and its investors to collaborate directly through UMAM's App and complete automatic profit distribution, automatic risk control, etc.

The UMAM app can be accessed via iOS and Android phones.

UMAM System

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