Note: Unionstock is to operate via the website - https://unionstock.co/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
Unionstock, a trading name of Felicity Group Ltd, is allegedly a forex and CFD broker registered in the United States that claims to provide its clients with leverage up to 1:200 and floating spread on the MT4 and web-based trading platform. Here is the home page of this brokers official site:
As for regulation, it has been verified that Unionstock currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.31/10. Please be aware of the risk.
Market Instruments
Unionstock advertises that it is a forex and CFD broker that mainly offers forex and CFD trading. However, more specific information about tradable assets cannot be found on the Internet.
Leverage
The maximum provided by Unionstock is up to 1:200. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
At Unionstock, the EUR/USD spread is 3 pips in the browser-based platform, but more than 8 pips in MetaTrader4.
Trading Platform Available
The platform available for trading at Unionstock is one of the most notable and preferred trading platforms the market offers - MetaTrader4 and a web-based platform. The MT4 is highly praised by traders and brokers alike due to its ease of use and great functionality, offering top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
The funding methods at Unionstock are supposedly Credit/Debit cards, Wire Transfers, Bitcoin and PayPal. The minimum initial deposit requirement is said to be $250. There is no information about minimum withdrawal requirements, but there are fees applicable to each transaction. The withdrawal request processing time is 5 to 7 days.
Bonuses & Fees
Unionstock says to offer a deposit bonus, however, it can only be withdrawn when clients reach a minimum trading volume of 25 times the deposit plus the bonus amount.
Also, the broker charges a dormant fee. The account becomes dormant after 3 months of inactivity according to their T&Cs or after 6 months according to their Deposit and Withdrawal policy, and it will be subject to a 10% monthly deduction,
Customer Support
Unionstock‘s customer support can be reached by email: support@unionstock.co. Company address: 8 Copthall, Roseau Valley, 00152, Commonwealth of Dominica. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most transparent brokers offer.
Pros & Cons
Frequently Asked Questions (FAQs)
