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UBK Markets is a Forex broker and social trading.
history of the company
The UBK Markets website states that the brand was founded in 2011. At the same time, the history of the company dates back to 2002, when the company began to conduct research and experiments that formed the overall development strategy of Simcord.
Simcord provided services in the field of capital management, and in order to expand its activities, the company's management decided to create an international brokerage company UBK Markets.
Fund security
Today UBK Markets is owned by UBK Markets LTD, which operates under the license of the Cyprus Securities and Exchange Commission (CySEC). This gives access to the entire single European market. The broker can provide his services in any member state of the European Union. More importantly, the control of the licensing authority guarantees investment protection in the event of bankruptcy or insolvency of the broker.
Trading conditions
UBK Markets provides clients with Classic accounts, iPA-Manager, iPA-Investor. The broker works using ECN technology, directly with liquidity providers: Hotspot FX, Integral, FXCM, Currenex and others.
Minimum deposit
To trade on the Classic account, it will be enough to deposit $ 25. This amount allows almost every trader to start trading. The deposit will be especially profitable for beginners who can try their hand at a small amount.
Spreads and commissions
UBK Markets says that it provides floating spreads, and the minimum possible spread is 0 pips. The broker does not indicate specific asset spreads. On the other hand, all traders know the broker's commission - $ 9 per trading lot. This means that the broker's spread starts at 0.9 pips.
Leverage
The company offers leverage up to 1:30. This will be enough for most traders, but professionals will surely be unhappy with such a small leverage when other companies can offer up to 1: 500.
Although in the modern world there is a tendency when regulators oblige brokers to reduce the size of the offered leverage to 1:50. This is done to protect investors.
Trading platforms
The platform offered by UBK Markets is called the iPro Marketplace. This is the company's own development. You can see the similarities between the terminal and the popular MetatTrader4. However, this is a completely different product. iPro Marketplace includes an investment module, methods for analyzing large arrays, economic data.
The terminal is perfect for both beginners and professionals. iPro Marketplace is available for mobile, but only for Android.
Significant services
UBK Markets offers its own iPA Social Trading / Signal Tracking System.
The main feature of the iPA technology incorporated into the system is the assessment of the quality of the trading signal. The assessment is carried out according to a number of quality indicators that meet the standards of effective trading: signal reliability, possible profitability, and many others.
While the company claims this is something revolutionary, it is actually very similar to other offerings on the market. All trades must be closed at the close of trading on Friday. This limits risks, but makes the service unattractive for long-term traders and investors.
Support service
It is worth noting that we were not immediately able to find ways to contact support. The broker offers to find the answer to the question in the frequently asked questions section, or to order a call back. You can contact the manager after registration. But, nevertheless, contact details should be open to everyone.
It is very inconvenient when the client has to wait for a call back and cannot call or write himself.
The site is available in Russian and English.
Ways of payment
UBK Markets deposit and withdrawal methods: bank transfer, WebMoney credit card, Skrill and OKPay.
Criticism of traders
Traders mostly complain about withdrawing funds from UBK Markets. But we must note that such complaints are not common.
The main advantage of trading with this broker should be its legal status. The company is controlled by one of the strictest and most active regulatory bodies - the Cyprus Securities and Exchange Commission.
Pros:
regulated broker; low deposit; social trading.
Minuses:
low leverage; no spreads are specified; support numbers are not listed.
UBKMARKETS is a company whose task is to provide intermediary services to traders. Brokers / Crypto exchanges provide access to currency / cryptocurrency trading, first of all. Also, many of them, if we are talking about brokers, give the opportunity to make transactions with company shares, bonds, commodities, precious metals, indices, cryptocurrency and other assets. A private person can make transactions with all these instruments only on a trading platform, access to which is provided by a broker or a crypto exchange.
In addition, thanks to such companies, an individual can operate in the market with amounts significantly exceeding the amount of his own funds. This is called the provision of leverage. For example, having a deposit of 1,000 USD with a leverage of 1:400, a trader can make transactions for 400,000 USD.
As well, the broker / crypto exchange opens access to analytics, auxiliary tools, trading signals. Without all this, modern trading is impossible.
UBKMARKETS profits from traders' trades, usually in two main ways
.
First – most common. Using spreads. This word refers to the difference between the best prices for buying and selling a certain asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between the broker and market users - another. The mediator takes the difference.
The second method is easier to understand. This is a fee for each operation performed. Most often it has a standard value, but can also be measured as a percentage.
Therefore, the company is interested in attracting as many clients as possible and that they conduct active trading.
How honest brokers / crypto exchanges should work and how they work, we found out. And now let's look at how scammers act, they are also called kitchens.
The most common way to cheat – is to twist quotes. Broker / crypto exchange gives the trader quotes that differ from the real market. There is a substitution of data in order to make operations unprofitable. The deposit is reduced, and then completely reset. At the same time, the trader thinks that his operations were made on the market, but in fact – just on the site of scammers.
Bonus – traps. They are generously distributed for anything: registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money mixed with bonus money, it will be necessary to fulfill a number of actually impossible conditions. For example, to conduct trading operations in the amount of ten times more than the size of the deposit.
The User Agreement may also mask a clause that allows the broker / crypto exchange to dispose of the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points – it is the place of registration and regulation of the company's activities.
First let's talk about registration. As a rule, traders are more trusted by companies either from their own country or from an economically developed country, for example, a member of the European Union. Of course, compliance with UK law is reassuring, and compliance with the laws of an unknown island in the Indian Ocean does not mean anything to most at all.
On fact, most brokerage companies are registered offshore, and we are talking not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are popular offshore zones among companies. Registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has claims against such a company, then it is likely that he will have to deal with it in accordance with the laws of the same conditional Belize. It is possible to be physically present there at court hearings. And this is extremely expensive and difficult.
No is it worth running like fire from just the word «offshore»? As an answer, we will cite the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes with the help of offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point – this is the regulation of the broker / crypto exchange. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokering. So, in Russia it is the Central Bank of the Russian Federation. The trader can find permits on the websites of such authorities. But there are also supranational structures. For example, the International Financial Commission, which is an independent self-regulatory organization, specifies disputes between its members – brokers and their clients.
If there is no information on the broker's website / crypto exchange about the regulation of its activities or license, then it is almost certainly a scammer. Or on the site there is data on some license issued by him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, or crypto exchanges, study its history. Look at the links to its experts. If one of the leading TV channels in the economic news for 5 years in a row refers to the opinion of the analyst of the broker in question – this is good. If the broker / crypto exchange assures that it has been working for 15 years, but there is no information about it on the Internet at all – this is bad.
It is important to pay attention to reviews about the company. And read them not only on the website of the broker itself / crypto exchange. In the kitchen, they will certainly be only praiseworthy. It is better to view as many sites as possible.
Pay attention solely to the specifics in the offers on the websites of brokers / crypto exchanges. Honest companies openly write about interest, spread size, minimum deposit, etc. Scammers lure loud streamlined phrases about a rich tomorrow, a stable income, mislead with incomprehensible terms about multi-sites, superfunctions and so on.
Specify the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers / crypto exchanges sometimes hold social promotions. Scammers will definitely not do this.
Therefore, the process of choosing a broker / crypto exchange is complicated. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich around the world
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Companies who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the company you chose. UBKMARKETS received a score of 1 of 5 on our resource.