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Ubanker: reliable or scam?
It is an obvious fact that even though Forex trading is a profitable venture , it is yet a very risky ground to thread. Every trader going into that field must equip himself or herself with adequate knowledge of how things work and have people around he/she can trust. One of such people is their broker .
The choice of your broker will determine how successful you will be with trading online – whether you are going home happy or you are going to lose all your money. That is why it is always recommended to do your research before choosing a broker.
Let’s get started!
uBanker Review: is It Safe to Trust This Broker with Your Money?
uBanker has been one of the brokers online with mixed opinions from people recently. We got news about them and also got confused too if this broker can really be trusted or they are a scam (both based on people’s reviews about them).
We always have the best interest of our readers at heart and like we always do, we have decided to review uBanker and let you know what our opinion about them is. This review will be looking into the activities of this broker to see if you can actually trust them with your money.
So if you have been at a crossroads about this broker, we hope this review will help you find your course.
What Or Who Exactly is uBanker?
uBanker is a Forex and CFDs broker that allows you to manage all of your money market investments under one roof hub, hence making it super easy to invest and trade online. Their online trading platform allows you to make payments via bank transfer or major credit cards . uBanker offers brokerage services in multiple areas such as bonds, stocks, forex, precious metals, commodities, indices, and cryptocurrencies.
Its platforms are very accessible. Traders can easily trade via their mobile phones, tablet, or PCs . In short, uBanker promises to help every trader “invest exactly like a banker”. However, some people still believe they are not doing enough to fulfill that promise.
What Do Online Reviews Say About uBanker?
Checking through various uBanker reviews online, the result has been both positive and negative. While some people share good stories about the broker, many pages are full of only negative reviews about the broker.
While this may seem normal for any financial establishment, it has caused a sort of panic in the mind of many people about the broker. If we will be judging uBanker based on the reviews we have found online, we may lose out on the true identity of the brokerage firm. So we decide to look into more criteria to help us draw a true conclusion about the broker.
uBanker Platform Is Designed More For Beginners.
Looking at the uBanker’s PROfit trading platform , one can easily tell that it is designed basically with beginner traders in mind. It is very simple and intuitive – easy enough for anyone to trade with, even beginner traders.
Could this be a strategy to go all out against the most vulnerable set of people like many uBanker reviews claim? We wouldn’t agree with that. The platform made it clear that its vision is to help everyone trade like a banker. If they are truly going to be doing that, then they have to bear at heart the interest of even the most novice in the game.
So the simplicity of the platform could be justifiable. Also, apart from the web platform, uBanker also has a simple trading app that is available both on Apple and Windows devices. During sign up, traders are assigned a personal investment advisor whose job is to.
They have a simple trading app that is available on Android, Windows, and Apple. And to every sign-up, a personal investment advisor is provided whose job is to guide traders and help them navigate the challenging world of investments.
uBanker Doesn’t Have A MetaTrader 4 Or 5 Platform.
Another thing we found that we will like to specially point out is that the broker does not have a standard trading platform. Instead, it utilizes a simplified one called Web Profit . What this means is that the platform is not such a good fit for experienced traders .
Even though Web Profit may be a perfect platform for beginners, experienced traders need either a MetaTrader 4 or 5 platform for the best trading experience at their level.
Although this might serve as a red signal for experienced traders, we don’t think that should put uBanker on the list of scams .
Is Ubanker A Regulated Broker?
This is a very important part when looking to see if a broker is legit or not. Looking at uBanker, it seems the broker is legit – registered and regulated. Displayed on their website is valuable information about their registration, and we also dug deeper to confirm they are not only trying to mislead unsuspected users.
uBanker is owned by Green Pole Ltd, a company located in Law Partners House, Vanuatu. It is also registered with the Vanuatu Financial Commission (VFSC). That is the same body that registers many companies rooting from Vanuatu, including brokerage firms.
uBanker’s VFSC license number is 14627 and also partners with a payment processing company in Cyprus called Rehoboth . This means the broker has a CySEC license and so could be held accountable in case anything goes wrong along the line.
Judging by the registration information we are able to gather about uBanker, so say the broker may not be a scam is not a step in the wrong direction. uBanker is regulated and licensed.
uBanker Deposit: What Is It Like?
Deposit is another area that convinced us that the broker might not really be a scam as many people assumed. It allows you to begin trading with as low as $200 . Once you have this amount in your wallet, you are able to invest in a variety of assets of your choice.
That means even if one is still in doubt whether uBanker is a scam or not, depositing only $200 to test what works and what doesn’t on the platform will not be too much. It is a good way for any trader to test the platform before committing big money into it.
Deposits can be made via bank transfer or credit card . By that, we didn’t have any issues depositing on the platform . But depositing is not enough. Withdrawal also needs to be as easy as depositing. So we decided to trade with the $200 we had deposited so we could assess what their withdrawal looks like.
Minor Issue with Withdrawal.
Like our gut earlier told us, we were right about uBanker withdrawal . We had issues withdrawing out money. It took longer than usual or expected. We hence decided to end our review of them and just label the broker as a scam. But we calmed ourselves and contacted the customer support to know what’s happened.
Truly, this broker has an amazing customer support team. Immediately we lodge the complaints about our withdrawal, it was fixed in less than 5 minutes. And we were able to withdraw the money without any further issues.
From this side, we will rate uBanker withdrawal and uBanker customer support 5-star!
Our uBanker Review Conclusion in 50 Words.
Without wasting much time, and from our findings, we can say uBanker doesn’t look like a fraudulent firm. We were able to get our money out without any issues. uBanker doesn’t look like a scam. However, don’t take our words for it. Do your own research about them too.
Should You Trade with uBanker?
uBanker is a registered broker and provides all the necessary advice and support any beginner trader needs to trade successfully. If you are a beginner trader, this might be a good choice for you. But if you are experienced, the trading platform offered by uBanker may not benefit you that much. You might need to find another broker you can trust.
You can consider trading with the broker but we will recommend you don’t do more than the minimum deposit at first so you can confirm things out yourself and see how the platform works before you fully commit yourself into it.
But from here, we can say uBanker is not a scam even though they have a couple of shortcomings.
Disclaimer and risk warning.
Online trading is a risky activity. You might lose all your money.
If you had experience with Ubanker please share it by commenting on this review.