UNV Holdings – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
UNV Holdings - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$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://unv-holding.com
Founded: 2023
Regulations: Unregulated
Languages: English
Deposit Methods: Bank Wire, Credit Card, Cryptocurrencies
Minimum Deposit: $1,000
Free Demo Account: Unavailable
Number of Assets: Unknown
Types of Assets: Currencies, Stocks, Indices, Cryptos, Commodities
Trading Accounts and Conditions
UNV Holdings gives us very little information about the types of trading accounts they offer. In fact, the only thing we are told is that the minimum deposit requirement is $1,000.
With regard to the trading conditions, we are told that the spreads for the EURUSD pair start from 2 pips, as do the spreads for the GBPUSD and the USDJPY. Leverage ratios for currencies are at 1:20. Other trading conditions such as commissions and order execution methods are not specified.
UNV Holdings – Advantages
There are no advantages to trading with UNV Holdings.
UNV Holdings – Disadvantages
UNV Holdings is unfortunately just another scammer that has recently cropped up and here is a list of all the red flag that prove this conclusion:
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Lack of Regulation
The first red flag that tells us to beware of UNV Holdings is their lack of regulation.
On their website, this broker claims to be based in Monaco, which makes this broker an offshore entity. Monaco does have a financial regulator – the Financial Activities Supervisory Commission, the CCAF. However, this regulator unfortunately does not have strong laws in place to monitor and oversee forex brokers. In fact, it is known to be a rather lax regulator.
Anyway, we checked the CCAF’s online register to see if this broker was registered with them as they claimed. We found out that UNV Holdings is not registered with the Monaco regulator at all.
This means that this broker is operating without a license and that makes them an illegal entity, i.e., a scammer.
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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Blacklisted by the Russian Bank
While checking for UNV Holdings’ regulation status, we came across a warning from the Russian Bank, more formally known as the Central Bank of the Russian Federation. According to the warning, this broker is operating in their jurisdiction without the required authorization. This means that the regulator has noticed that UNV Holdings is operating illegally.
When a regulator flags off a broker, then it is a clear indication of that broker’s dishonesty and it would be a very bad idea to trust that broker with your funds.
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Issues with Trading Platform
A legitimate broker offers their clients the best possible trading platform available in the market. This is because it is the trading platform that is any broker’s main product offering. Without this product, a broker has nothing to offer.
With UNV Holdings, what we get is nothing. This broker claims to offer their clients a superior trading platform, but they do not specify the kind of trading platform or even advertise the details of their platform. This in itself is a red flag.
However, to give the broker the benefit of the doubt we registered for an account with UNV Holdings to check for ourselves what their superior trading software looked like.
We found out that this broker has lied about having a decent trading platform! UNV Holdings offers their clients a very poorly constructed trading software, one that is web based and barely has any functionality at all. This trading software barely works; traders cannot do much more than buy and sell a few assets on this platform.
The lack of a decent trading platform is a clear sign that you are dealing with a scammer.
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Issues with Trading Conditions
The first thing we have an issue with is that UNV Holdings does not give us the choice of trading accounts. Legitimate brokers offer their clients multiple types of trading accounts to choose from. Each account has their own specified trading conditions, which makes it very easy for traders to select the account that suits their trading style best.
The trading conditions a broker presents complement the trading platform the broker offers. One cannot work without the other. So, while a good trading platform is necessary, poor trading conditions will still mean that that broker is not worth it – or could even be a scammer.
With UNV Holdings, we see the first red flag with their minimum deposit requirement. This broker demands a minimum deposit of $1,000. This is an extremely high amount, especially when the market average ranges from just $100 to $250. In fact, there are a large number of excellent brokers that allow you to open an account with them for less than $50 as an initial deposit.
The spreads this broker offers are also exorbitantly high, especially when you realize that UNV Holdings has not bothered to tell us anything about the commissions they charge per trade.
And while the leverage ratio is well within limits, the rest of the trading conditions are missing.
These skewed and incomplete trading conditions only indicate one thing – a scam.
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Issues with Payments
Another concern we have is that this broker advertises that they offer multiple payment options – credit cards, bank wires, and cryptocurrencies. However, when we checked their payments portal, we found out that the only payment option that was working was the crypto payments option.
This is a huge red flag since crypto payments are all permanent and anonymous. Which means that you could end up losing your money and there would be no way to trace it.
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Issues with Withdrawal Policy
The biggest issue with have with UNV Holdings’ withdrawal policy is that they do not have one. We do not know that the minimum or maximum withdrawal amounts are. We are not told if there is a target for trading turnovers or even if there are fees for withdrawals.
This lack of information indicates a scam.
Conclusion
UNV Holdings is not a broker that can be trusted; they are a scam operation and it would be best to stay away from them.
UNV Holdings
Pros
- None
Cons
- Lack of Regulation
- Blacklisted by the Russian Bank
- Poor Trading Platform
- 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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