Universe Markets FX Review Scam or Legit Broker

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Universe Markets FX Review – is it scam or safe?

Universe Markets FX is a forex and CFD broker, offering over 50 forex pairs on the MetaTrader5 platform. However, if you are considering opening an account with them, have in mind that recently the Financial Conduct Authority (FCA) has issued a warning about their operations in the UK.

Account type Min. deposit Max. leverage Spread s
Standard Account $250 1:300 2 pips, fixed

Universe Markets FX Advantages:

Various trading instruments, including crypto CFDs

Universe Markets FX says to be offering over 50 forex pairs, including some exotic currencies and crypto CFDs on Bitcoin, Bitcoin Cash, Litecoin, Dash, Ripple, Ethereum and Ethereum Classic. The broker also offers CFDs on spot metals like gold and silver, shares, indices, commodities and oil. Still, here you may check our list of brokers, also offering Bitcoin CFD:

Universe Markets FX is owned and operated by White Square Trading Limited, a company based in the UK. As all brokers operating in the UK should be licensed by the local Financial Conduct Authority, we checked its registers and it turned out that not only White Square Trading Limited and Universe Markets are not licensed, but also there is a warning about their activities.

Here is what the FCA says about Universe Markets: “We believe this firm has been providing financial services or products in the UK without our authorisation. Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us. However, some firms act without our authorisation and some knowingly run investment scams. This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.”

In addition to that, the FCA warns that if you are investing with unauthorized brokers you are not covered by the Financial Ombudsman Service and the Financial Services Compensation Scheme.

In case something goes wrong, the Financial Services Compensation Scheme insures trade capital of up to 50 000 GBP, while a similar insurance mechanism, backed by Cyprus Securities and Exchange Commission (CySEC) guarantees up to 20 000 EUR. Here you may check our list of brokers licensed by the FCA:

Universe Markets FX is an unregulated broker, which recently came into the spotlight of an FCA investigation. As we already noted, investing funds with unregulated companies comes with a significant risk, because such entities, most often than not, are involved in scam.

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Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Universe Markets Review: is UniverseMarkets Scam or Legit Broker?

Universe Markets is a Binary or Digital Options broker owned and operated by White Square Trading Limited. Read before signing up. They have their address at 131-151 Great Titchfield Street, London Greater London W1W 5BB United Kingdom. UniverseMarkets contact phone number is +44-203-332-2935 and email address is [email protected]

Universe Markets Trading Platform

Trading platforms are the interface where the trading on assets such as commodities, currencies, stocks or indices are done. A good trading platform should have charting tools and indicators, it should also be easy to use and very fast in executing trades. Universe Markets broker offers the SpotOption Trading platform which has lots of assets to trade on.

Withdrawal and Deposit Method

Universe Markets withdrawal and deposit methods could be carried out by the following means: Visa, Bank Wire transfer, MasterCard, E-Wallets. The minimum deposit is $250

License and Regulation

Universe Markets is NOT a licensed broker. This means there are no regulatory bodies that monitors their activities to ensure they stick to best practices. Complaints about most unlicensed brokers are withdrawal issues(not being able to withdraw your money) and since they are unlicensed and unregulated, no regulatory bodies can fight for you, so you are left helpless. This is a source of major concern.

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Austria’s FMA issues warning against Universe Markets

Unregulated Forex brokerage Universe Markets has been blacklisted by the The Austrian Financial Market Authority (FMA). The country’s main financial regulatory suspects them being involved in scam operations.

The brokerage Universe Markets purports to be owned by WhiteSquare Trading Ltd , a company registered in the United Kingdom and provides clients with the MetaTrader 5 trading platform. The company itself was blacklisted by the Financial Conduct Authority in the UK as well. When multiple regulatory agencies have issued regulatory warnings for different brands of the same company it most definitely means it’s involved in a scam operation and is purposefully spawning new websites to avoid being exposed.

The FMA has always advised traders to only do business with legitimate firms that hold the proper license. Traders may always check the regulatory status of a given company by going on the online registry of the Austrian financial watchdog and typing out the name of the company. Another good idea is simply googling the name of the company and reading reviews from ex-clients of the brokerage, as well as from professional Forex bloggers.

Top Forex Brokers

Broker Country Rating Min. Deposit Website
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