Is UFX a scam or legit broker? Read UFX Review
UFX is an offshore or unreliable broker which is not regulated by any reputed regulation authority in its region. This broker offers trading and investment services in many countries without having a license from any regulatory authority in its country like CySec, ASIC, FCA, CNMV, etc. The broker got many Complaints and negative UFX reviews and other possible scam features can also be the reason. Your funds may not be safe if you are trading with this broker.
Website – http://www.ufx.com/
Address – Vanuatu
Warned By – Not Recommended By Review Website Like Report Scam
To provide trading services, UFX is not formally registered with any organization, and nobody is in charge of or responsible for monitoring its operation. Investors were forewarned by the broker’s unregulated status and use of promotional tactics to draw traders, and it was earlier named as a trading scam. UFX is controlled by UFX Global Limited, an offshore business with Vanuatu registration that states it has a license from the Vanuatu Financial Services Commission (VFSC).
All client funds are always kept in separate accounts, according to the UFX broker, who claims that creating a secure trading environment is a top concern.
We highly advise staying away from offshore brokers like UFX and only opening trading accounts with brokers who are governed by well-respected international regulatory bodies and who have a solid track record of abiding by the necessary set of rules and operating within the specified timeframe of operations.
Possible scam activities of UFX
Forex trading scams, Binary OPtions trading scams, Cryptocurrency trading scams and other investment trading scams are harder to spot. But there are some signs.
Here are some of the very possible reasons why we have flagged this broker as a scam broker in this UFX review.
- The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
- The broker makes continuous calls to the traders and urges them to invest higher and higher amounts.
- The broker may have made a number of false claims through its website.
- The broker promises returns that are too good to be true.
- The risk warnings may not be disclosed on their webpage or would be hidden.
- The broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes the name and website URL without any notice to existing traders.
- The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are havens for scam brokers.
- This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals, and ultimately you are not able to make a withdrawal.
Negative UFX Reviews and Complaints
UFX has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers 2023.
Example of Negative UFX Review
After Searching internet you will find many negative UFX Reviews. Users have frustrations and feel cheated after trading with this broker. ReportScam does not recommend traders to trade with this broker and your funds may not be safe with this broker and UFX reviews are negative. Instead we recommend looking for regulated and reputed brokers who can really help in growing your investments.
Scammed by UFX? How to get your lost money back from UFX?
The best solution recommended for getting your lost money back from UFX is Report Scam Community
It is one of the few legit recovery assistance organizations which are actually concerned with a victim’s recovery from losses. They are a committed team of Recovery specialists who have already helped hundreds of scam victims in recovering their lost money. Report Scam provides free Consultation and anyone can register by filling a very short complaint form.
UFX Review: Conclusion
To begin with, UFX is a mysterious site that needs validity. It isn’t authorized to offer trading services as it does not hold any valid license and is targeting clients of different nations. So, we advise you to stay away from a such brokers as your money may be at high risk with them.
Also, to prevent yourself from scams like – Forex scams, Binary scams, Romance/Dating scams, Cryptocurrency scams, or any other scams, you should pick a broker or company regulated by some major regulators like FCA, FINMA, SEC, FMA, ASIC, etc. Check the reviews of brokers and also read the policies and terms and conditions. These small details will prevent you to become a victim of broker scams.
To read more about Scam Brokers and their Reviews, Visit Scam Brokers 2023 Page to avoid Cryptocurrency trading scams, Forex trading scams, or other online scams.
Read about a similar scam broker – Amarinvest Ltd review
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Note: Report Scam Community has conducted many researches before flagging UFX as a possible scam in this UFX Review.Are you planning to trade with UFX and invest your money? Report Scam suggests you to read this UFX Review first.Report Scam! as we have experience!