Uni-Co review – Should I trust uni-co.io broker?

As of May 2023, the broker (uni-co.io, bitrade.fun) has ceased operations. But you can read the article to avoid falling for similar scammers.

Uni-Co regulation

The uni-co.io domain has been removed from active status. This means that clients who have funds with this company cannot access their funds. This was the main reason we reviewed the company and compiled some information to assist victims.

Uni-Co was a trademark of FORTUNE INVESTOR GROUP Ltd, Marshall Islands. The Marshall Islands are second only to Saint Vincent and the Grenadines which have no financial regulators at all. GLOFSA doesn’t even bother to supervise companies that have been licensed and doesn’t care about those that haven’t.

We did however find a broker at the new domain and it is not related to Uni-Co. Although bitrade.fun is the domain, the website is exactly the same.

Why does a broker need a license?

To operate in compliance with regulatory rules, reduce risks, keep your money in separate accounts, form compensation funds, and to comply with the requirements of regulators, the broker must have a license. Uni-Co did not get GLOFSA, or any Tier1 regulation. This means that all those who were defrauded are having difficulty tracking down the funds.

Uni-Co warnings from financial regulators

Since AMF Quebec issued an official warning about the company, it appears that there have been many Uni-Co complaints in Canada. The AMF states that Uni-Co provides illegal financial services in Canada. Residents who have been affected by it should file a complaint immediately.

Traders review about Uni-Co scam

Most Uni-Co reviews focus on withdrawal issues. Since the website was closed, the company has not been in touch with customers and has no information about their funds. It appears that the broker stole funds via remote software, AnyDesk. If you’re ever asked to give someone access, ensure you trust them.

Clients also mention that they were redirected to the broker’s new website by their brokers, but the scheme pattern is the same.

Where does Uni-Co trading scam operate?

Uni-Co’s services were primarily provided in the following areas, according to customer reviews:

• Canada
• US
• Germany
• France
• Singapore

Trading platforms – Trading software

Although the broker claimed that its WebTrader was stylish and adaptable to all, it was a very basic platform. It did not have any special tools or options. This platform also lacked EAs and social trades. Spreads started at 2.6 pip for EUR/USD pair. Industry standard is 1.5 pip. The platform was not only not fashionable and powerful but also very expensive.

All about Uni-Co trading accounts

We were able to see that there are four types of Uni-Co accounts on the new website.

1. Mini – $250
2. Standard – $1,000
3. Classic – $10,000
4. Pro-Invest – $50,000

There are many factors that can make accounts different: trading assets, news, education and initial funding.

Uni-Co range of trading instruments and markets

The broker offered a standard selection of trading assets:

• Currency pairs
• Commodities
• Indices
• Shares
• Cryptocurrencies

All of this with a high spread and unregulated leverage of up to 1:000.

Uni-Co withdrawal and deposit methods

Uni-Co was very interesting when it came down to payment methods. These are the options.

• Credit/debit card
• Wire transfer
• Cryptocurrencies
• Gumballpay
• Zoftpay
• NeoBanQ
• Introrix
• Starbill
• Betatransfer
• Uni-CoPay
• BtqFinance

Our knowledge of cryptocurrencies has stopped. Although these might be local payment options, we are certain that it will prove difficult to get your funds back once they have been processed anonymously.

Until then, terms, withdrawals, commissions and terms are not covered.

Uni-Co broker scammed you? We want to hear your story

Let us know if you believe that Uni-Co, or its successor bitrade.fun scammed you. Our chargeback specialists will review your case and assist you in filing a dispute.

What is a chargeback?

This is a way your bank can recover funds from online fraud. We recommend that you act immediately, as the time limit is limited and there are only 540 days from the date of the fraudulent transaction.

Chat with us online and book a free consultation. Let’s get your money back before it’s too late!

Uni-Co: Video

Below you will find a short video about Uni-Co. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Uni-Co!