Universal Markets Review – Is Universal Markets a Scam Broker?
- Website: https://www.umarkets.io/
- Website Availability: No
- Address: Suite 305, Griffith Corporate Centre, Beachmont, Kingston, ST. VINCENT AND THE GRENADINES
- Warning: Financial Conduct Authority (United Kingdom)
- Domain Blacklisted Status: It seems there is no direct mention of this domain being on a blacklist.
Universal Markets Warning Signs That Shouldn’t Be Ignored
Established in 2018 and based in the United States, Universal Markets, or UMarkets, is a trading platform that offers traders a wide range of products, such as forex, shares, commodities, indices, and cryptocurrencies, with a particular emphasis on Bitcoin.
Types of Accounts available are Mini Forex, Standard, Gold Forex, and Platinum Accounts. There is also a demo account for practice. UMarkets offers the xCritical Trading Platform with leverage of up to 1:200 and spreads from 1.6 pips. Payment methods included VISA, MasterCard, Neteller, Skrill, and Perfect Money.
However, UMarkets is unregulated, meaning it does not have valid licensing from any reputable financial regulator. Additionally, the UK Financial Conduct Authority (FCA) has issued a warning against the broker. Therefore, there is no protection in place for traders, and deposits are at risk in the event of an issue.
Moreover, UMarkets does not provide live chat support, has a high minimum deposit of $500 for certain client accounts, and has a complex platform that can be difficult for a novice. Although the broker offers bonuses and trade insurance to new customers, the lack of regulation and transparency outweighs the positives.
Verdict: Universal Markets is a high-risk and untrustworthy broker. It is advised to proceed with extreme caution or avoid depositing any significant funds altogether.
Why You Must Be Careful?
We’ve been tracking down fake brokers and dark investment plans for many years. Our investigations cover many cases, from forex trading scams to currency trading scams and crypto scams. After years of research and hundreds of real cases, we now know how these scams work and how they play with innocent victims.
Grand promises, unusually high excess returns, and withdrawal issues – these are all common investor-trapping tactics.
If trading with umarkets.io is a possibility, remain cautious. There has to be thorough research and intelligence supervision so that one is not made a victim of any such dishonest practice.
Avoid Trending Financial Frauds
Scammers never stop inventing new techniques for scamming unsuspecting people. Some of the most trending frauds include:
Investor Impersonation Scams: Fraudulent investment companies promise high profits within a short time; they disappear with every deposit.
Romantic Scams: Scammers pretend to develop online relationships merely to gain victims’ financial trust before scamming them.
Gift Card Scams: Scammers insist on payments being made through gift Card, hence making the transactions irreversible.
Bank Account Fraud: Identity theft and unauthorized access are applied for the purpose of empty bank accounts.
Phishing Fraud: Emails and messages trick people into sharing confidential information.
Cryptocurrency scams: Ponzi schemes and deceptive exchanges trick traders into losing funds.
Forex scams: Unregistered brokers manipulate trades and hold up withdrawals.
Ransomware: Frauds demand ransom to decrypt the information they have encrypted.
When doing financial transactions online, always be observant and handle it cautiously. Meanwhile, verify the legitimacy of a particular broker.
How to Recover Lost Funds?
If you’ve lost money to Universal Markets or similar forex trading scams, you’re not alone. Victims of crypto scams, currency trading scams, and other scam brokers or shady platforms often struggle with scam money recovery.
We assist to recover money from scammers using proven strategies like chargebacks, dispute resolution, and legal action. Our team provides expert advice to help with scammed money recovery and guides victims through the entire recovery process.
Contact Us for a free consultation regarding the recovery of your funds.
Frequently Asked Questions
Q1. Is Universal Markets a safe broker?
No. umarkets.io shows major red flags, including no verified regulation and scam-like practices.
Q2. What problems do traders face with Universal Markets?
Users report withdrawal issues, hidden fees, and false promises of high returns.
Q3. How can I recover money lost to Universal Markets?
Document all transactions, report to regulators, and seek expert recovery help. Services like Proupshot assist victims with scam money recovery.
About Proupshot
Proupshot.co is dedicated to revealing every fraudulent broker and delivering accurate information to a trader. We aim to protect investors from scams or fraud in finance and also help victims in recovering their lost funds.
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Also, read TCEHK Review.
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