Unicorn-fx Review: Unicorn-fX.com Untrustworthy Scheme

Unicorn FX Review
  • License and Registration
  • Contact Details and Customer Support
  • Fund Safety
0.5

Summary

If your desire is to become rich overnight you will always become a victim of offshore firms. Moreover, Unicorn FX does not have client testimonials. If they are generating attractive conditions then everyone would be visiting their website. The traffic is also inadequate.

Unicorn FX is a company that appears like a promising venture. They promise direct market access to their clients. Clients can buy and sell various assets. Their venture promises high liquidity. You can also trade automatically regardless of whether you have trading experience or not. 

Unicorn FX Review, Unicorn FX Company

The online investment venture has grown popular. There are several investment firms in the market. They all promise to help inventors make the best out of the volatile market. However, the majority of these platforms are shady and only looking for opportunities to steal from innocent people.

Once you open an account with Unicorn FX you will have an excellent trading experience. Professionals are allegedly at your disposal. Hence, you can get the best outcome. Unfortunately, there is no trading history. Moreover, the individuals that are behind the firm are unknown. How can you trust that anonymous people have what it takes to help you attain your success. For all, we know they could be incapable. 

Instead of wasting your money in a discreet investment firm here is a list of some of the best forex trading entities in the market. You will yield a better outcome without being exposed to unfavorable trading conditions. 

Unicorn-fX.com Review

Unicorn FX mode of operation is still a mystery. They have several accounts that investors can use to diversify their risks. The sales pitch the entity is using we have seen with several scammers. Once a scam is exposed that does not mean the end of their dirty activities. They will still come back using a different domain name. 

SSL certificate is not enough to validate that your data is secure. Con artists require clients to verify their personal data. Giving access to them can result in the entity selling the data to criminals. It is also unwise to disclose such information when the platform’s whereabouts are unclear. 

The banking information is not available. Therefore, the money that you cash in will most likely go to the con artists’ wallets. Once the activities of Unicorn FX are exposed chances of them shutting their system and never coming back are extremely high. Since this is an offshore scheme even if you report them to the authority there is nothing much that can be done. 

Trading Conditions and Accounts

Unicorn FX has five trading accounts. The minimum that you can deposit is $500. They are more expensive than most legit ventures. The micro account has a spread of 3 pips for the EURUSD currency pair. The more money that you deposit the higher the rewards.

Unicorn-fX.com Review, Unicorn-fX.com.com Accounts

The only beneficial party is the scam. This is because investors are subjected to paying more commission. Moreover, fraudsters tend to change their terms and conditions. The leverage that the venture advertises is beyond what the financial bodies allow. CySEC only permits 1:30 cap. This sheds light showing that the scheme does not originate from the area.

Withdrawal and Deposits

The listed payment methods include; Visa, MasterCard, Skrill, Qiwi, Wire Transfers, Neteller, BTC, e-wallets, and other options. The least amount that you can withdraw is $100. Investors should have the liberty of getting any amount that they wish.

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The scheme is also offering bonuses to investors. You need to trade30 times the amount. The dormant accounts pay a fee of $25. We are yet to encounter anyone that can validate the entity is paying.

Contact Details and Customer Support

The office address of Unicorn FX indicates the entity is operating from Cyprus. Investors can reach the support via phone, email, or filling up the contact form. However, the actual location of the venture remains a mystery. Scammers cannot reveal their real identity because the authority would come after them.

Their phone number will be disconnected once they leave the market. Additionally, the majority of the fraudsters lack enough money to hire professional support. The issue regarding the whereabouts of your money questions will never be responded to.

Legit investment firms are reliable. Their team operates around the clock resolving any issue that clients may face. These should be the ventures that you invest in. The safety of your funds is also guaranteed. 

Regulation Status of Unicorn FX

Of all the areas Unicorn FX chooses Cyprus as its country of origin. The country has stringent rules for investment firms in the market. Investors should not give the venture an opportunity to deceive them. Given the red flags, the firm has displayed the financial body of Cyprus cannot grant them a license.

The Cyprus Securities and Exchange Commission (CySEC) database does not feature this broker. The parent company is Businesoft LTD. It hails from Saint Vincent and the Grenadines. They want traders to believe they are prominent in the market. However, there is nothing to see.

Unicorn FX is an illegitimate company. SVG is a Mecca for Ponzi schemes. Investment entities operate as they please without anyone overseeing their trading activities. The trading conditions of the firm can change at anytime. There is no consumer protection in the entity. Moreover, the entity can manipulate the price. 

This is a confusing scheme. Their legal documentation reveals that any dispute between traders and the company will be resolved by the Bulgaria jurisdiction. The fact is that the venture is a nasty scam. They will not be in the market for long. The entity is most likely going to close down its business unceremoniously when investors stop signing up.

Are Funds Safe at Unicorn FX?

The platform does not offer fund safety to investors. The scheme is operating illegally. They do not fall under any regulatory body database on the planet. The scheme will eventually stop existing. You cannot get funds out of a Ponzi scheme. Your data is also in grave danger. 

The trading conditions of the company are not ideal. A company that cannot be trusted with minor details like the contact information could be hiding much more. The platform is targeting investors that have inadequate knowledge of how the market works. 

If your desire is to become rich overnight you will always become a victim of offshore firms. Moreover, Unicorn FX does not have client testimonials. If they are generating attractive conditions then everyone would be visiting their website. The traffic is also inadequate. 

The information of the financial analysts and account managers is also missing. You will trust people that you do not know with the safety of your funds. This is unwise and leads to a bad outcome.

The Domain Insight

Unicorn FX is privately registered. The entity was established in July 2021. It shall expire in 2022 the same month. One of the ways to identify a scam is to check the timeframe of their domain. Scammers will rarely go for a duration that is past a year. This is because they are exposed before then. They will use another name and spice up their narratives. The traffic and trust score is also low.

Final Verdict

Unicorn FX is a platform that is not worth the take. The location of the venture remains unknown. They are also not regulated. The company is trying to push investors to risky limits. If you lose funds there is no going back and you cannot recover the capital. 

Invest with some of the best forex trading companies in the market. These are reliable and trustworthy brokers that have been in the market for years. Their trading history is available. You can also read their clients’ reviews on third-party websites. 

 

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