UBK Markets

What is UBK Markets？

UBK Markets is a brokerage firm founded in 2011 and registered in Cyprus, regulated by CYSEC, offering brokerage services in the global financial markets. It specializes in providing innovative solutions for capital management and financial market analysis through its iPro Marketplace trading and analytical platform. UBK Markets uses the ECN standard for order execution, ensuring customers receive competitive trading conditions with low commissions and optimal pricing.

Pros & Cons

Pros:

• Established and regulated brokerage firm: UBK Markets has been operating since 2011 and is regulated by CYSEC, providing a level of credibility and assurance to traders.

• Competitive spreads: UBK Markets offers spreads starting from 0 pips, which is attractive to traders looking for cost-effective trading conditions.

• Innovative iPro Marketplace trading platform: The iPro Marketplace platform offers unique solutions for capital management and financial market analysis, providing traders with advanced tools and features.

• Low minimum deposit requirement: With a minimum deposit of $25, UBK Markets makes trading accessible to a wide range of traders, including those with smaller capital.

Cons:

• Restricted access for certain countries: UBK Markets does not accept traders from the United States, Cuba, Syria, Sudan, and North Korea, limiting its accessibility to traders from these regions.

• Limited market instruments beyond Forex: While UBK Markets focuses on Forex trading, it HAS a limited offering of other market instruments, restricting trading options for traders.

Is UBK Markets Safe or Scam？

Determining whether UBK Markets is safe or a scam requires a thorough review of several factors.

With a Straight Through Processing(STP) license of No.186/12, UBK Markets is regulated by the Cyprus Securities and Exchange Commission (CYSEC), which is a positive sign. It means that UBK Markets is subject to regulatory oversight and must adhere to certain standards and practices to protect traders.

However, there is a piece of exposure of inability to withdraw on wikiFX. This is indicative of issues with fund withdrawals, which are critical aspects of a trustworthy brokerage.

Market Instruments

UBK Markets primarily focuses on Forex trading, offering a variety of currency pairs for trading. Some of the currency pairs available include AUD/CAD (Australian Dollar/Canadian Dollar), CHF/JPY (Swiss Franc/Japanese Yen), EUR/GBP (Euro/British Pound), NZD/USD (New Zealand Dollar/US Dollar), and others. Traders can potentially access a range of major, minor, and exotic currency pairs through UBK Markets, providing opportunities for diverse trading strategies.

Account Types

UBK Markets offers three distinct account types tailored to different trading preferences and expertise levels.

The Classic Account is designed for retail traders and investors seeking standard trading experience. With a minimum deposit of $25, it is suitable for newcomers or those preferring a straightforward approach with lower minimum requirements.

The iPA-Manager Account caters to experienced traders and investment managers. The minimum deposit is not available on the official website. It's a way for seasoned traders to earn additional income by sharing their strategies with a wider audience.

The iPA-Investor Account is geared towards investors who wish to replicate the trading signals of iPA-Managers. The minimum deposit for this account type depends on the total volume of funds under management. It's an ideal choice for individuals who prefer a hands-off approach to trading and want to benefit from the expertise of successful traders without actively managing their trades.

Leverage

UBK Markets offers varying leverage levels depending on the account type and the total volume of funds used for management.

For the Classic Account, the leverage is 1:30 for major currency pairs and 1:20 for additional currency pairs. This means that for every dollar in the trading account, the trader can control up to $30 or $20 in positions for major and additional instruments, respectively.

For the iPA-Manager and iPA-Investor Accounts, the leverage depends on the total volume of funds used for management. The initial leverage level for accounts less than $10,000 is 1:30 for the iPA-Manager Account and 1:20 for the iPA-Investor Account. For accounts from $10,000 to $300,000, leverage is calculated based on the formula Margin (max) / Balance, where Margin (max) is the maximum margin level set at the corresponding level of funds, and Balance is the current total volume of funds under management. If the current volume of funds exceeds $300,000, the leverage is 1:1.

Spreads & Commissions

UBK Markets offers competitive spreads and commissions across its account types, providing traders with a transparent and cost-effective trading environment.

In the Classic Account, the spread is floating, starting from 0 pips for all pairs. The commission for this account is $9 per each 100,000 units of currency traded, which is a standard practice in the industry.

For the iPA-Manager Account, the spread is also floating, starting from 0 pips for all financial instruments. The commission for this account is 16 pips, which is slightly higher than the Classic Account.

Similarly, the iPA-Investor Account offers floating spreads starting from 0 pips for all financial instruments. The commission for this account is 16 USD per 100,000 units of currency traded, ensuring that investors can benefit from cost-effective trading while following the strategies of successful traders.

Trading Platforms

UBK Markets offers a unique web platform, iPro Marketplace. It allows iPA-Investors to efficiently manage their funds. Due to the web platform functionality, iPA-Investors successfully analyze the iPA-Managers‘ yield and select Managers’ most appropriate strategies to copy their trading signals to their iPA-Investor accounts. You can work with the web platform in universally accessible browsers based on any mobile device.

Deposits & Withdrawals

UBK Markets offers a variety of convenient and reliable payment methods for depositing and withdrawing funds. Customers can choose from bank transfers, Skrill wallet, and bank card payments, each with its own transaction fees, processing times, and currency options. The Payment Department's opening hours are Monday to Friday from 9 a.m. to 7 p.m.

For bank transfers, customers can deposit in USD, with the transaction fees being the responsibility of the customer's bank. The withdrawal fee is 45 USD, with processing times ranging from 1 to 3 business days.

Skrill wallet deposits and withdrawals are in USD, with a 1% transaction fee for both deposit and withdrawal transactions. Deposits are processed instantly.

Bank card deposits are also in USD, with a transaction fee of 2.8%. Deposits are processed instantly, too.

Customer Service

UBK Markets provides customer support through various channels to assist traders with their queries and concerns. Customers can reach the support team via telephone at +357 25 353630 or through email at support@ubkmarkets.com. Additionally, the company has a presence on Facebook at https://www.facebook.com/UBKMarkets/, where traders can connect with the support team and stay updated on news and announcements.

Conclusion

In conclusion, UBK Markets is a well-established brokerage firm regulated by CYSEC, offering a range of trading services primarily focused on Forex. The company provides competitive spreads, innovative trading solutions through its iPro Marketplace platform, and a low minimum deposit requirement, making it accessible to traders of all levels. We recommend it as a viable choice for you looking to engage in Forex trading. However, it should be aware that UBK Markets has limitations, including restricted access for traders from certain countries.

Frequently Asked Questions (FAQs)

Q: Is UBK Markets regulated？

A: Yes, UBK Markets is regulated by the Cyprus Securities and Exchange Commission (CYSEC).

Q: What trading instruments are available on UBK Markets？

A: UBK Markets primarily focuses on Forex trading.

Q: What is the minimum deposit required to open an account with UBK Markets？

A: The minimum deposit required to open an account with UBK Markets is $25.

Q: What trading platforms does UBK Markets offer？

A: UBK Markets offers the iPro Marketplace trading platform.

Q: What are the deposit and withdrawal methods available on UBK Markets？

A: UBK Markets offers several deposit and withdrawal methods, including bank transfer, Skrill wallet, and bank card payments.

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 provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.