August 7, 2020

UBanker Review – Is uBanker Scam or Trusted?

Regulators:-

Cryptocurrencies: NO

Minimum Deposit: $200

Maximum Leverage: 1:200

Spreads: Medium

My Score: 3.0

uBanker is a broker which launched in 20 17 and offering online forex currency trading products and services. In a small amount of period, they’ve achieved fantastic success. The state internet site contains almost 700,000 visitors a month. Approximately 60 percent of this trip is in South Africa. Hence the goal of this broker in South Africa.

uBanker’s official internet site features quite an amateur design and style. But I must mention that the broker has been powerful in bringing clients. What’s the way to obtain this achievement?

If you’re scanning this uBanker review, then you ‘re probably considering starting an account with this broker. Well, would be uBanker scam or a few of those reliable brokers? What forms of account and trading requirements are all readily available? What are several features which ought to be understood such as pops, minimum deposit and max leverage? You’ll find the thorough answer to of most these questions and compare these with different brokers within this uBanker review. Along with those, you could write to me personally when you’ve got a query.

Let’s start reviewing in the event that you’re ready.

Regulation

As I said in my prior articles, the main issue and the way to obtain the warranty to that forex traders would be regulation. Therefore I always suggest dealing together with regulated brokers. Nevertheless, the worth of each and every regulator isn’t equal. Regulators such as FCA, CySEC or even ASIC are a lot of more reputable.

uBanker is owned and operated by Green Pole Ltd and also this company is governed by VFSC – Vanuatu Financial Services Commission. I will state uBanker is a governed and certified broker.

Obtaining permits for newly launched brokers is an ambitious procedure. Consequently, many brokers operate with no permit. Several of those brokers also refuse investors and state that they have been still licensed. This example is unacceptable.

Some brokers, such as for instance uBanker, go on to supply services by receiving licenses from comparatively less trusted labs. Which means this really is reasonable. We can’t expect newly created brokers to get a permit from respectable authorities instantly.

Account Types Offered by uBanker

I could mention that uBanker is somewhat inadequate to test concerning accounts types. Unlike a number of different brokers, there isn’t any account type sophistication. You may just select 1 account type.

The deposit to get this particular normal kind of accounts is currently $200. The broker’s official web site says that the minimum deposit is still quite low, however, I must state it is above the market average of 100. In reputable authorities FXTM and XM, the deposit is equally as little as 5.

The highest leverage Provided by uBanker is 1: 200. I must express that the leverage ratio is significantly lesser compared to the contest. When you take a close look at my top broker’s record, then you could observe brokers offering higher leverage.

uBanker provides a predetermined disperse. I believe that this is a good feature. A marginally more expensive compared to a flying propagate version can lead to. But, you don’t encounter chronic issues like spread extending. Thus you’ve got even more reliable trading support. The adjusted spread of 3 pips made available by uBanker from the normal account.

Another bad feature of the broker is that MetaTrader 4 isn’t supported. As an alternative to MT4, the trading platform named PROFIT is acquired.

Payment Methods

Now let’s return into the withdrawal and deposit Problems. The ways of withdrawing and depositing money given by the broker will be decent, however, not a wide selection. You are able to utilize wire transfers and charge cards because you want with any broker. As always, the speediest method is you are going to have the ability to finance or draw money along with your charge card. Just Skrill is around popular e-wallet systems. You will find overlooking popular e-wallet systems such as Neteller, PayPal or WebMoney.

UBanker

3

Trust

6.0/10

Commissions and charges

3.0/10

Customer Service

2.0/10

Platform & Tools

1.0/10

Product Portfolio

3.0/10

Cons

  • Payment approaches are restricted
  • MT4 isn't supported.