While online trading can be pretty profitable, investors should be on constant watch for fraudulent firms. Since there’s a lot of money, there are a lot of scammers too. Before investing a penny, ensure to check your brokerage, confirm that it has all the necessary regulations, and only then let yourself be involved.
Read our detailed Trade Unity review and find all the reasons against the brokerage.
What is more, we strongly advise you not to invest in FTM Trade, AktienAG and EarningCrypt fraudulent brokers.
| Broker status: | Unregulated Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | tradeunity.co |
| Blacklisted as a Scam by: | FCA |
| Owned by: | N/A |
| Headquarters Country: | N/A |
| Foundation year: | 2021 |
| Supported Platforms: | WebTrader |
| Minimum Deposit: | 250 EUR |
| Cryptocurrencies: | No |
| Types of Assets: | Forex, commodities, indices, shares |
| Maximum Leverage: | 1:400 |
| Free Demo Account: | No |
| Accepts US clients: | No |
How Safe Is the Trade Unity Platform?
The broker is an anonymous financial services provider. We have no information about the company owner, the legal jurisdiction, and the basic legal documents are inaccessible. Simply said, it’s not safe.
From the FCA warning we found, it seems that Trade Unity pretends to be a brand of Trade Unity Capital, a part of UK-regulated Unity Trade Capital Ltd. However, this is false information. If the broker tries to convince you about legitimacy, don’t buy it; you’re exposing your funds to risk.
With everything being said, it’s clear that Trade Unity is an unregulated attempt of a trading website.
Reasons Not to Trust an Unlicensed Broker
There are plenty of reasons to avoid unlicensed trading firms. These companies do not follow any rules, can provide risky trading conditions, and disappear with your funds. Without an authority body and a compensation fund, you have low chances of recovering your hard-earned money if something goes wrong.
So Is Trade Unity a Decent Broker or a Scam?
Trade Unity is not a legitimate investment service provider. The company is entirely anonymous, while the UK FCA has issued an official warning since it appears to be a clone firm of a UK-regulated brokerage.
Warnings From Financial Regulators
Upon receiving numerous complaints, the UK regulatory body issued an official warning. It seems that the firm employees were telling clients that the brand is a part of an FCA-regulated brokerage. Thus most of them filed a complaint with the FCA when they couldn’t withdraw their money.
Since the broker is a clone firm, the FCA could not reimburse victims but only issue a warning against the Trade Unity trading scam.
What Do Traders Think Of Trade Unity?
One may think that the trading company is a good brokerage based on its reviews on Trustpilot, Facebook, and other social media. However, take a look at the company’s profile. It’s not verified, and the broker is not replying to bad reviews. Therefore, they’re trying to collect as many good ones as possible, written by their employees, while they don’t bother to answer those who are really defrauded.
Most negative reviews refer to clients’ inability to get their money back after being dragged into the scheme.
Trade Unity WebTrader Platform – Software Tools
If you’ve ever been involved with an unregulated broker, you’ve seen this exact WebTrader. The broker uses the same software as many others, branding it with its logo. Customers can see available trading instruments, apply several indicators on three chart types, and get market alerts. Nothing beyond basics.
What Is The More Efficient Software?
Whether an experienced investor or a beginner, we recommend MetaTrader if you’re about to start trading. Both MT4 and MT5 have plenty of trading tools, including EAs and social trading. Anyone will find this software quite satisfying, enabling you to customize your trading, create your own strategies, and more.
Trade Unity Accounts Overview
The trading accounts look similar to what other bogus firms offer. Each gives unregulated trading conditions and promotes the firm. Here’s what you can get:
The leverage ranges from 1:200 for the Starter account to 1:400 for the Advanced one. Other than that, perks are the same – 24/5 support, WebTrader, and over 200 trading assets.
Trade Unity Broker – Countries Of Service
As per our research, Trade Unity broker mainly targets European citizens. The majority of reviews come from:
- Germany
- Switzerland
- France
Wherever you reside, note that Trade Unity doesn’t have a valid financial license.
Also, remember the names of the XE Prime, CoinEvo and Tower Bridge trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Trade Unity Range of Trading Markets
Trade Unity provides customers with access to most major markets, excluding cryptocurrencies. This can be considered a significant disadvantage in today’s trading climate, where crypto is one of the most tradable assets. You can access the following markets:
- Forex – EUR/USD, AUD/CAD, GPB/CHF
- Commodities – gold, corn, soybeans
- Indices – S&P500, DJIA, DAX30
- Shares – TSLA, GOOGL, BAC
What Trading Terms Does Trade Unity Offer?
Since the firm is unlicensed, it can choose its own trading terms. Therefore, we have an unregulated leverage ratio and high spreads.
About Leverage and Spread
The leverage ranges from 1:200 to 1:400, depending on the account type. Just for comparison, the EU and UK regulators have a strict leverage limit of up to 1:30. In contrast, in Australia and the US, this limit goes up to 1:50. While leverage can increase your potential earnings, it can also increase your losses. The spread starts at 3 pips for EUR/USD pair.
Minimum Investment Amount
Trade Unity requires a minimum deposit of 250 EUR. While this would be a standard requirement if the firm were licensed, it’s too high for bogus brokerage.
Trade Unity Deposit, Withdrawal Methods, and Fees
The broker has never specified deposit or withdrawal methods or fees. Since the Terms and Conditions cannot be accessed, we cannot gather the information. Note that scam firms will usually ask you to deposit your funds using crypto since these transactions are virtually untraceable and not subject to a chargeback.
Always stick with credit/debit card deposits. If something goes wrong, you have up to 540 days to file a dispute and get your funds back.
Scammed by a Trade Unity Broker? – Let Us Hear Your Story
If you have been a victim of the Trade Unity scam, know that you’re not alone. We’ve assisted numerous online trading fraud victims in filing a dispute for a chargeback and recovering their funds.
But What Is A Chargeback?
This is a way for your bank to reverse card transactions and get your money back from the merchant. For more details, contact us via online chat to book a free consultation with our experts. Let’s start right away.