UniTrust Venture – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
UniTrust Venture - DO NOT TRADE WITH THIS PROVIDER
2.3/10
$100
Minimum Depositupdated 2023
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://unitrust-venture.com
Founded: 2023
Regulations: Not Regulated
Languages: English
Deposit Methods: Card Payment, Wire Transfers
Minimum Deposit: $249
Free Demo Account: No
Number of Assets: N/A
Types of Assets: Forex
Trading Accounts and Conditions
UniTrust Venture offers their clients five types of trading accounts:
- Standard: The minimum deposit is $249. You are offered up to 25% margin loan.
- Silver: The minimum deposit is $470. You are offered up to 35% margin loan.
- Gold: The minimum deposit is $855. You are offered up to 50% margin loan.
There is also the VIP as well as the Pro account, however, the minimum deposits are exorbitantly expensive for those account types. The leverage offered for all of the account types is 1:200. There is no mention of spreads. However, on their trading platform, the EURUSD spread was at 2.6 pips.
UniTrust Venture – Advantages
There are no advantages to trading with UniTrust Venture. Read on to find out why.
UniTrust Venture – Disadvantages
Given below are all the red flags that have alerted us to UniTrust Venture’s scam:
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Unregulated and Blacklisted Broker
The first thing that tells us that we are dealing with a scammer is the fact that UniTrust Venture is unregulated.
This broker claims to be based in the UK; they provide us with a UK phone number as well as vague email address. However, they do not prove their claim of being based in the UK by providing us with any physical address or corporate background. Thus, we are actually looking at a broker that is anonymous.
Being based in the UK means that a broker needs to be regulated by the Financial Conduct Authority. We checked the online register and found out that this broker is definitely authorized by the FCA. In fact, the FCA has issued a public warning against UniTrust Venture for operating in their jurisdiction (the UK) illegally. The regulator has clearly told all traders to beware of this broker as it is a scammer.
It is important to know that if you do business with an unauthorized broker and you get scammed, then there is no authority that will be able to help you. This is why it is so important to deal only with regulated brokers.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Poor Trading Software
On their website, UniTrust Venture does not tell us what kind of trading software they offer.
Regulated brokers prominently advertise the trading platform they offer, since this is the main – and only – product offering they have. They also try to offer the best possible trading software there is, which usually means either the MetaTrader 4 or MetaTrader 5 platforms.
With UniTrust Venture, the broker, as we said, did not mention their trading platform at all on their website. And when we registered for an account and accessed their client area, we found out why. This broker has a very basic trading platform in place – one that does not allow you to do more than simply buy and sell. The charting options are imported from TradingView, and there are no other functionalities available on this software.
This is the kind of software that we have seen with other scam brokers. It is a software in name only, and it is only there to fool novice traders into believing that they can actually trade with this broker’s platform. Which is, of course, not the case at all, and the novice trader ends up being scammed.
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Issues with Trading Conditions
We can also tell you that based on the trading conditions this broker offer (or, actually, doesn’t offer) that we are dealing with a scammer.
Along with their trading platform, a broker’s trading conditions are their service offering. Therefore, brokers need to ensure that these trading conditions are fair to the trader while also allowing them to make a profit.
The minimum deposit of $249 is rather strange, since the usual deposit amounts a round numbers. Added to that, this deposit requirement is on the higher side. The industry average is between $100 and $150 nowadays, with many brokers even allowing account openings for less than $50.
As for the leverage, that is another indicator that we are dealing with a scammer. In the UK, the leverage ratio has been capped at 1:30, so a broker that offers leverages above that cap is operating outside the law – a scammer.
This broker does not even mention the spreads they offer; we had to check their so-called trading platform for that information. And we found that the EURUSD spread was much too high at 2.6 pips. The average spreads for this currency pair ranges from 0.5 pips to 1.5 pips; anything more than that is much too expensive. We also do not know if this broker charges any commissions on the trades that are carried out. This means that we do not know the actual cost of trade – which is obviously going to be more expensive than just the spreads.
All in all, all that we see with this broker’s trading conditions – or lack of them – tells us that we are dealing with a scammer.
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Issues with Payments
We also need to point out that UniTrust Venture has mentioned nothing on their website about the kinds of payment options they have available. Considering the fact that online brokers need to be transparent about helping their clients make payments as easily and simply as possible, this lack of information is another red flag that tells us that things are not right with this broker.
When we checked their payment area, we found out that there are only two ways via which you can make a payment – card or wire transfer. But we cannot guarantee that these methods work since we did not try to make a deposit with this broker.
Conclusion
UniTrust Venture is a scammer and it if you invest with them, you will lose all your funds.
UniTrust Venture
Pros
- Decent Trading Software
Cons
- Unregulated and Blacklisted Broker
- Poor Trading Software
- Issues with Trading Conditions
- Issues with Payments
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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