UBanker is an unlicensed Forex broker, that is owned by Green Pole Ltd in Vanuatu.
Their payment processor is; Rehoboth Ltd, which is located at: 73 Arch. Makarios III Avenue, CY1070 Nicosia, Cyprus. Their listed phone number is in South Africa: +27104464226, Whatsapp number is: +447874406956, and email address is: [email protected] .
Official website is at: https://ubanker.com/, however, to Login to Ubanker you need to go to: https://ubanker.login.tradenetworks.com/login.
If you have a complaint or a problem making a withdrawal read this. New Investor? Look at the Licensed Brokers.
UBanker Broker Review.
The trading software that UBanker gives their clients is called Profit or Web Profit. It is a customized easy to you trading software made for beginners who are not experiences with the advanced trading software like MetaTrader 5 that other brokers use. They offer a variety of assets to trading including; Forex pairs, Market Indexes, CFD trading on Stocks and Commodities.
Spreads on Forex pairs vary depending on the actual pair, and leverage in Forex trading is as high as 200:1. Leverage for CFD trading is 10:1 on stocks and 100:1 on market indices. Investors should familiarize themselves with the risk associated with trading CFD & Forex on margin. Minimum deposit for a new trading account is $200. UBanker’s trading platform is available in English, French, Russian, Arabic and Spanish.
When you read the brokers terms and conditions page, you will see that the trading volume required for withdrawal of bonus money is 5000 times your deposit plus bonus amount. Basically they are telling you, not to accept any bonus money.
Is UBanker Registered & Regulated?
Technically, UBanker shows some sort of a license from Vanuatu, license 14627. The problem for most people living in South Africa is that a broker needs a license from the FSCA for them to be considered legitimate.
Scam Broker Investigator has reviewed hundreds of Forex brokers since 2013, and the first thing we look for at a broker is a valid license. If the broker is not licensed by FSCA South Africa, then we do not recommend using them.
The reason investors in South Africa use an FSCA regulated broker, is so that in case the broker goes out of business, their money is protected.
The FSCA reminds consumers who wish to conduct financial services, to check beforehand with the FSCA.
Compare Forex Trading Brokers.
Smart investors will always read about other Forex brokers, before deciding to invest. You have a lot of regulated Forex brokers you can choose to invest with, see here.
CMTrading are is a popular Forex broker, that is licensed by FSCA South Africa. Signup for a Free Demo Account on their user friendly platform, register here.
Are you currently trading with the brokers at UBanker? Please share your experience and results in the comments below.