Company Profile
Company Profile
Review summary
General Information & Regulation
Union Fx Trade presents itself as a global asset-management investment company registered in the United States that currently serves private, individual and institutional investors from all over the globe. The broker claims to provide its clients with forex trading with variable spreads, as well as a choice of four different live account types and 24/7 customer support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that Union Fx Trade does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.22/10. Please be aware of the risk.
Market Instruments
Union Fx Trade is a forex broker that mainly offers forex trading. However, more specific information about tradable assets cannot be found on the Internet.
Account Types
Union Fx Trade claims to offer four types of trading accounts, namely Basic, Gold, Premium and Legend. The minimum initial deposit amount is $200 for the Basic account, while the other three account types have much higher minimum initial capital requirements of $500, $1,000 and $10,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less. Also, different account types have quite different investment periods. For example, 3 days for the Basic account, while the other three account types have an investment period of 7 days, 3 weeks and monthly separately,
Spreads
Union Fx Trade claims that the spread is variable, yet no specific value is involved directly.
Deposit & Withdrawal
The minimum initial deposit requirement at Union Fx Trade is said to be $200. However, the broker says nothing about the acceptable deposit and withdrawal methods. Note that the withdrawal process can only be done when your investment has reached its maturity date.
Bonuses
Union Fx Trades website openly states on its home page that the end of investment bonus is up to 3% to 5% depending on your investment plan/package, yet we cannot be sure if the bonus can be withdrawn without any limitation.
In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.
Customer Support
Union Fx Trade‘s customer support can be reached by live chat or sending messages online to get in touch. You can also follow this broker on social networks such as Twitter, Facebook and YouTube. However, this broker doesn’t disclose other more direct contact information like telephone numbers, email or the company address that most brokers offer.
Risk Warning
Online trading involves a significant level of 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.
