UnitForex Review – How We Exposed unitforex.com Trading Scam

Is UnitForex a Scam Broker?

UnitForex LLC, the company behind this broker, is actually based offshore in Saint Vincent and the Grenadines.

SVG is notorious for its scammers and trickers. SVG’s Financial Services Authority has stated explicitly on its website, that Forex trading on the island is not regulated.

UnitForex’s claims of regulation are false. This broker does not have a license to offer trading services, and it is not regulated by any authority.

If you do not want to be paranoid over your money, then please find a broker who operates in a strict jurisdiction, such as ESMA (European Securities and Markets Authority), CFTC (US), ASIC(Australia), FCA(UK), etc.

UnitForex, a SVG-based broker without a trading license, offers favorable trading conditions for Forex and CFD trading. This broker has targeted traders primarily from the UK and the US. It also targets traders in Pakistan, Malaysia, India, and Malaysia.

One of the first things that you see on UnitForex’s website is “high regulatory standard”. The UnitForex website was designed to give the impression that it is a legitimate company.

As we already debunked, SVG is a domain where Forex trading isn’t regulated. UnitForex is thus a dishonest broker and a true scammer.

UnitForex Reviews

UnitForex is not a broker that traders are happy with. We found complaints against the broker. UnitForex’s conditions are worse than the broker claimed on its website. This trade has written a complaint that clearly outlines the many negative aspects of UnitForex.

I previously opened a real account with UnitForex, but my experience was not very good… I also found that their trading conditions were a little worse than other brokerage companies, such as higher spreads, so I would not recommend trading with this company.

WikiFX user, March 31, 2023.

Choose only trustworthy and reliable brokers. You can read about the best ones in our article Best online brokers in 2023.

UnitForex Trading Assets

Here are the trading instruments available from UnitForex:

• Forex: EUR/USD, GBP/AUD, CHF/CAD…
• Indices: FTSE100, DOW30, S&P500…
• Commodities: oil, natural gas, gold…
• Crypto: BTC, LTC, ETH…

UnitForex’s Trading Accounts Types

The broker offers four different types:

• Standard: 50$, spreads from 1.2 pips, zero commissions;
• Premium: 100$, spreads from 1.8 pips, zero commissions;
• ECN: 200$, spreads from 0.1 pips, commissions 7 $ per lot;
• Pro: 15000$, spreads from 0.1 pips, commissions 3 $ per lot.

UnitForex’s maximum leverage is 1:500. This is typical for offshore brokers. Remember that high leverage can be risky, and it often leads to huge losses. This is why regulators like ESMA, FCA, ASIC, have a 1:30 limit for retail clients.

Every day new scam brokers and trading bots appear on the web with only one goal – to steal your money. We have already exposed some of them, for example – Tolentino, AION Trader, CedarFX.

UnitForex: Video

You can also write a comment under the video on our YouTube channel to tell other traders about your experience. But if you’ve already been a victim, contact us for a free consultation by filling out the form at the top of the page.
Below you will find a short video about UnitForex. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about UnitForex!