The United Trading Review
The United Trading is an unlicensed trading broker that has been active for a few years. The platform has received mixed reviews from clients. It would be wise to conduct thorough research before investing your money. Invest with the best forex trading brokers in the market for reliable, professional services.
Investments have become vast in these times. We have seen many upcoming investment options than before. Trading any asset requires knowledge and skills. Traders need to equip themselves with this knowledge. Experience in trading is what leads to the big wins. The United Trading have taken upon them to be all-rounded about trading all assets available and have provided platforms to ease the task.
Their long-term experiences have helped many organizations and individuals win big in various investment fields. People have come to trust brokers to trade for them and later on reap the benefits.
Investment assets can include stocks, cryptocurrencies, futures, options, among others. This trading space has brought with it advantages and disadvantages. The main pro is that anyone can trade and yield benefits depending on their strategy.
The market has, however, left open gaps where fraudsters can easily steal from traders in seconds. The same brokers who help beginner traders to invest have become the main culprits. Users fall for their tricks due to lack of information and ignorance of performing due diligence. In this review, we will go through the facts behind the existence of united trading and help you determine whether it’s spam or not.
The above-mentioned broker is managed by The United Trading ltd, which is based in Larnaca, Cyprus. The company specializes in offering various investment programs to investors, such as options, currencies, and futures. It is an internationally accepted broker, as evidenced by its presence in Japan, UK, China, Germany, etc. The company actively trades stocks at the biggest exchange in the world. The broker’s ability to diversify investments makes investments less risky thus affordable.
However much they have stated this information, much has been omitted. How much does one need to trade stocks or currency? What advisory services do they offer to beginners? Do they have a demo account to help beginners trade? We can’t answer all these questions from their about page. How then can we trust them with our money? Legit forex trading companies will always showcase this information for more accessible guidance. This broker is not trustworthy.
Trading conditions are the requirements and channels through which trading is executed. There are different methods that brokers use depending on their strategy. The united trading has failed in its transparency mission since it has not disclosed the trading software it uses to trade. Trading software includes the MetaTrader 4, MetaTrader 5, web and mobile versions. The MT4 and MT5 software are mostly used due to their adaptability to different strategies.
We have also noticed that as other sites identify their leverage ratios to be 1:100 or 1:200, theunitedtrading.com doesn’t disclose it. Leverage is important in choosing a broker as it informs traders of the expected losses and gains depending on an investor’s initial investment. Since the united trading brokers have decided not to disclose essentials to traders, you must invest in legal trading entities to make you money rather than rob you. United trading might not be a viable option.
The United Trading Domain Insight
The domain registration information and that of the trading site seem to differ. According to theunitedtrading.com site, the company was registered in Feb 2020 and is set to expire two years after. It is strange how the domain is registered one year before The United Trading Ltd and expires on July 2021. This has been the case for fraud companies. They are set to exit the business after one or two years. This keeps them safe from being charged for lost funds in case it happens to their clients. We have also found some discrepancies in the registration country. In contrast to the domain name, the company is registered in California, US, whereas the trader sites the registration origin in Cyprus. This data is not straight forward thus not dependable.
There is no possible way to get support from the united trading. However, they have indicated their presence on Facebook and Twitter, but there is no actual handles or names through which they can be identified in the social media accounts. The messaging app on the site is available and working. We, however, are not sure about their response time. The non-availability of a phone cell service is a red light. The traders cannot contact the support staff directly to aid them in anything. How stable is this broker? Be vigilant when dealing with such platforms. Most could be a hoax.
The United Trading Deposits and Withdrawals
Trading requires initial investment money to be defined. This broker has shown the different accounts to its clients. They include the standard, premium, VIP, and pro accounts. All of which have an initial deposit of $200, $1500, $5000, and $10000. These initial deposit amounts are way overboard, especially since they have not stated the leverage ratio. Legit platforms set their minimum investments from $10 to $50, depending on the account.
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The united trading has also omitted the lowest amount drawable and how investors can withdraw money. Companies use wire transfer or credit and debit cards for funds transfer. Card payments are preferred since they allow for a chargeback. Investors are therefore sure that they can’t lose their funds. The withdrawal days limits are not known too. Many trading companies set their deliveries within 2-3 days. We don’t know how long it takes for the united trading site to release funds. With an investment in theunitedtrading.com, investors cannot know whether a chargeback is allowed. This is withholding information that is valuable in investment decision making.
Theunitedtrading.com site operates in Cyprus, Europe. Cyprus lies in the jurisdiction of Lefkosia (CY-01). CySEC should therefore regulate thenitedtrading.com broker. There is no registration of regulated sites with CySEC by the name the united trading. According to their domain details, they could be licensed by FCA, the regulator in the UK. However, this is not the case. The two authorities don’t know this broker. It is thus a risky investment. Investors should find legit brokers to trade with. The united trading platform is certainly not a viable option.
Is the united trading Broker Legit?
Legit brokers are identified by the type of activities they carry out. The reviews they have from their clients, their registration status, and their operation time. The registration status of united trading is not clear since they have provided a different physical address from the domain data.
Their registration expires after only two years shows that they don’t intend to carry on business for long. They are likely to operate as a pyramid scheme. As per our research, the united trading forum is not legit. This broker will drain your cash with no intention of making a profit for you. Strive to get a broker worth your money.
The final decision lies in your hands. Only the investor can make decisions about what they deem viable to invest in. According to our investigations, the united trading platform is not reliable since it might be a scam. The anonymity in leverage and spreads is wanting.
Also, the high initial deposit charged to investors is a sharp warning. Traders are advised to invest in the united trading with caution, especially since everyone, including fraudsters, wants to make money by all means necessary. The online trading market is big, and many traders have been corned through it. Be warned. Investigate and come up with legitimate forex brokers that you can trade with.