UnixBroker – Is It Safe to Trade with Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
UnixBroker - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Depositupdated 2020
UnixBroker claims to be operated and owned by Z Line Corporation Ltd, which is an offshore enterprise based in the Marshall Islands. Offshore zones don’t have any forex regulatory authority, which means UnixBroker is an unregulated non-legit broker and doesn’t possess a legal license to offer forex financial services.
In addition to this, the broker has not mentioned any information on its regulations on the website.This means that UnixBroker is not liable to report to any regulatory authority. It is also not answerable to anyone for the way it handles client’s trading funds.
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://unixbroker.com
Founded: 2020
Regulations: Unregulated
Languages: English
Deposit Methods: No information is given on the website about deposit methods
Minimum Deposit: No information is given
Free Demo Account: None
Number of Assets: 100+ tradable assets
Types of Assets: Currency pairs, Crypto coins, Commodities, metals, indices, Forex, Stocks/Equities
Trading Accounts and Conditions
UnixBroker has only mentioned the account types it is offering to the clients for trading and the leverage levels of each account. It has not mentioned any details regarding the minimum deposit amount of each account or spreads. The three types of accounts are:
- Silver Account: The leverage level offered on this account is 1:200 with no swap discount.
- Gold Account: The leverage level offered on this account is 1:300 with a swap discount of 25%.
- Platinum Account: The leverage level offered on this account is 1:400 with a swap discount of 50%.
UnixBroker – Advantages
UnixBroker offers no advantages, bonuses, or incentives to its clients for investing money with them.
UnixBroker – Disadvantages
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An Unregulated Enterprise
UnixBroker claims to be operated and owned by Z Line Corporation Ltd, which is an offshore enterprise based in the Marshall Islands. Offshore zones don’t have any forex regulatory authority, which means UnixBroker is an unregulated non-legit broker and doesn’t possess a legal license to offer forex financial services.
In addition to this, the broker has not mentioned any information on its regulations on the website.This means that UnixBroker is not liable to report to any regulatory authority. It is also not answerable to anyone for the way it handles client’s trading funds. This is too risky on the part of the customers as they are trading with an enterprise that lacks customer protection and security of funds. This only implies that this broker is a scammer that wants to take advantage of people. So, it is better to choose forex brokers that are regulated by the world renowned regulatory boards such as CySEC or FCA.
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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Bonus Scheme to Trap Customers
UnixBroker is offering its clients a bonus scheme which is nothing but a trap to attract customers to invest money with them. The bonus scheme is associated with a requirement in which customers are asked to trade the amount equal to the bonus amount divided by four. Although the requirement is easy to achieve, there’s still an additional withdrawal condition of the minimum trade volume.
So, using this requirement as an excuse, UnixBroker refuses all the withdrawal requests until and unless the customer fulfills the requirements. So, scammers like UnixBroker can make any lame excuse to cancel customer’s withdrawal requests because it is not supervised by any authentic financial regulatory authority.
This is clearly a sign of a scam because the authentic legitimate brokers never offer bonuses and incentives in this manner. As a matter of fact, most regulated forex brokers have banned the bonus schemes. Moreover, it is an obvious and clear thing that a customer is always allowed to withdraw their trading funds from their trading accounts whenever they wish to do so.
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Irreversible Payment Methods
UnixBroker accepts deposits through credit/debit cards, crypto coins, bitcoin, and bank wire transfers. So, if you are using crypto coins or bitcoin methods, it will be the final transaction. You will never reverse it back. Hence, when you are dealing with online forex brokers, always use the credit/debit card (Master and Visa) method as it can be reversed back instead of crypto coins or bitcoin method.
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No Proper Information is Given
In its terms and conditions section, UnixBroker has mentioned that it will process withdrawal requests within the first 30 days since the trading account is opened. However, UnixBroker has not further provided any information of what happens to withdrawal requests after 30 days.
- In addition to this, it has not provided important information about when the company was founded, what deposit methods it accepts, the minimum deposit amount, and spreads which is a very shady practice because an authentic, legitimate forex broker will never miss such important details to provide to the customers.
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Misleading Information About Leverage Levels
UnixBroker is misleading its customers by giving them false information on leverage levels. In the terms and conditions section, it claims that the leverage level it offers is 1:400, while in the risk disclosure section it is 1:500. So, the leverage level will be one of these two or even worse, more than these values. The information provided is confusing, which is a common practice by scammers.
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Leaking Personal Information of Customers
To fulfill its different shady reasons, the scammers like UnixBroker share your personal information with a third party. So, your personal information is not safe. Plus, you won’t have any means to sue this broker despite breaking any law because it is unlicensed and unregulated by any regulatory authority.
Conclusion
UnixBroker is an unlicensed, unregulated, and unauthentic offshore broker like other scammers. If you choose this broker to make your trades with, you will surely be scammed as it can’t be trusted. You can’t make money with an unregulated scammer because it will not even allow you to withdraw a single penny.
So, it is recommended not to choose this broker. Instead, choose an authentic legitimate forex broker that is licensed under reputable financial authorities because it is obliged to fulfill strict requirements that guarantee client protection and transparency of the financial services it provides.
Some of the most reputable forex brokers are regulated under the jurisdiction of the US, UK, EU, and AU. These countries have the strictest guidelines and requirements when approving licenses to aspiring forex brokerages. Hence, when trading with such brokerages, your funds are safe.
UnixBroker
Pros
- None
Cons
- An unregulated enterprise
- Bonus scheme to trap customers
- Irreversible payment methods
- No proper information is given
- Misleading information about leverage levels
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.
eToro is a multi-asset platform which offers CFD and non CFD products. 74% 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.