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.
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.
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.
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.
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.
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.
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.
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.
regulated broker; low deposit; social trading.
low leverage; no spreads are specified; support numbers are not listed.
UBKMARKETS is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.
In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.
The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.
The broker UBKMARKETS makes profit from traders' transactions, as a rule, in two main ways.
The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.
The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.
Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.
We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.
The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.
Bonuses are traps. They are generously distributed for anything: for 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 virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.
In the User Agreement, a clause can also be disguised that allows the broker to manage 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 is the place of registration and regulation of the company's activities.
Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.
However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.
But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point - this is the regulation of the broker's activities. 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 brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization, considering disputes between its members - brokers and their clients.
If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.
It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.
Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.
Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.
Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over 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. Brokers 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 broker. UBKMARKETS received a score of 1 of 5 on our resource.