If you have encountered the UF Solution broker, seeking a reliable forex provider, you should pay no attention to this shady brokerage company. Continue reading our UF Solution review to find out why.
According to its website, which is a one-page website and very limited in information, it encourages people to invest in order to keep their savings safe from inflation and increase capital. However, that is just a trick to entice you into trading and rip you off. Actually, you need protection from this and similar financial swindlers.
What is more, we strongly advise you not to invest in Solar Markets, CoreGeneric Capital and JM Trade fraudulent brokers.
| Broker status: | Unregulated Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | ultimatefinancialsolution.com |
| Blacklisted as a Scam by: | N/A |
| Owned by: | Ultimate Financial Solutions Ltd |
| Headquarters Country: | UK |
| Foundation year: | 2021 |
| Supported Platforms: | Web trader |
| Minimum Deposit: | 250 USD |
| Cryptocurrencies: | Yes (Bitcoin, Dogecoin, Ripple) |
| Types of Assets: | Currency pairs, shares, crypto, metal, indices, commodities |
| Maximum Leverage: | 1:200 |
| Free Demo Account: | No |
| Accepts US clients: | Yes |
UF Solution Has a Forex License?
This phony broker carries a huge financial risk since it is not authorized to provide online financial trading services anywhere. As such, it can offer nothing but an unsafe trading environment. Keep in mind that forex trading is risky per se, but it is even riskier with unlicensed brokerage firms.
UF Solution is a trademark of Ultimate Financial Solutions registered in the UK. As a UK-based broker, it is mandatory to be licensed under FCA (Financial Conduct Authority). After running both names of this company through the FCA register, there are no results. By being an unauthorized business, UF Solution can’t guarantee the safety of your funds. Moreover, it can be involved in fraudulent trading activities and get away with it.
Why Is Trading On a Licensed Broker’s Platform Preferable?
Therefore, for the sake of security, it is crucial to trade with regulated brokerage services. By doing so, you will not just ensure funds protection but will have realistic chances for profitable trading. Especially recommended brokers are those certified by premium supervisory bodies like the British FCA, German BaFin, and Australian ASIC.
Traders of accredited companies are covered by indemnification programs against brokers’ insolvency. For example, BaFin compensates for up to 100,000 EUR per person. Anyway, licensed brokerage firms are less likely to cease trading since they are financially sustainable. One of licensing requirements is to maintain enough operating capital that goes up to several million dollars.
Lastly, regulated forex providers are closely monitored and can be held accountable for their actions. They play by the books and ensure favorable trading conditions. For instance, traders are additionally protected by negative balance protection and segregated funds.
Is UF Solution a Legit Broker or a Scam?
UF Solution aka Ultimate Financial Solutions is based in the UK but lacks a compulsory broker’s license, providing online financial trading services illegally. Besides that, this phony broker delivers poor and unsafe services that can’t ensure fruitful results.
UF Solution Offers Safe Trading Software?
When it comes to trading software, the most reliable and widely used are MetaTrader 4, MetaTrader 5, Sirix, and cTrader. Any broker worth its salt provides at least one of them. Their safety and built-in advanced tools (e.g., stop loss, copy trading, and automated trading) ensure convenient and successful trading. As expected, UF Solution offers nowhere near these modern programs. Its web trader comes with improper functionality at the expense of trading effectiveness.
Can I Trade From Mobile Devices?
If you wonder if you can use the UF Solution web trader for mobile trading, it is barely possible but only through a browser not as a mobile application. This is very impractical. In contrast, leading forex providers enable trading on the go by offering their proprietary mobile trading apps and versatile trading platforms (e.g., MT4 and MT5). Both of these options are downloadable on Google Play and Apple Store.
UF Solution Trade Range of Trading Markets
Speaking of what trading instruments are available at UF Solution, here is the outline of the alleged 250+ trading products. But before moving forward, we want again to emphasize the importance of trading with authorized brokers. Otherwise, your funds are at stake.
- Currency pairs: EUR/USD, USD/CAD, GBP/AUD;
- Commodities: metals (gold, silver, copper), energies (crude oil, natural gas), and agricultural products (wheat, rice, corn);
- Stocks: Apple, Google, Amazon;
- Indices: S&P500, NASDAQ100, FTSE100;
- Crypto assets: Bitcoin, Dogecoin, Litecoin.
So, regardless of UF Solution’s markets and a supposed range of tradable assets, we advise against any dealings with this bogus broker and any company with a similar modus operandi.
UF Solution – Countries Of Service
In this article, we want to warn traders against UF Solution focused on scamming traders from
- Poland
- UK
- Germany.
So if you are based in any of the foregoing countries be wary of this dishonest scam broker. In addition, keep in mind that any brokerage company providing services in Poland, the UK, and Germany must hold a license issued by KNF, FCA, and BaFin. Otherwise, keep well away from unlicensed FX brokers.
Also, remember the names of the Cloxyields, MorganCapFX and EuroInvestec trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
What Do We Know About UF Solution Account Types?
Let’s have a look at the UF Solution trading account types.
- Standard: 250 USD minimum deposit
- Gold: 1,000 USD minimum deposit
- Platinum: 5,000 USD minimum deposit
- VIP: 50,000 USD minimum deposit.
As you can observe the minimum opening balance is 250 USD. This is several times higher than the industry standard. On top of that, this is a needless risk considering the status of this broker. Just so you know, you can start trading for less than 10 USD with some of the biggest players in the industry.
Bonuses and The Terms of Their Receipt
Regarding bonuses and promotions, note that fake brokers use them to draw your attention and rope you into investing. When deposits are made, a fraudster will make any excuse not to allow you to redeem a bonus, or it sets unreasonable terms that also prevent you from getting a reward. Even if you get a bonus, you won’t be able to withdraw it. Likewise, fraudsters keep the right to adjust bonus conditions as they please and revoke them without prior notice.
We have seen this dirty trick so many times with scam brokers like UF Solution. Thereby, bonuses are always a warning signal when coming from unregulated brokers.
What Is Known About UF Solution’s Trading Conditions?
With reference to terms of exchange, with untrustworthy brokerage companies like UF Solution, you can’t expect a propitious trading environment. The full offer is based on fabrications and obscure information. So, don’t be flabbergasted if this financial swindler provides different conditions from the promised ones.
As per its website, the leverage ratio is 1:200, which goes against the UK 1:30. One more proof that UF Solutions doesn’t abide by legislation. Also, trading fees are 0.5 USD/lot, while spreads start at 2.2 pips.
As for how traders can transfer money to and from UF Solution, this unscrupulous broker professes that it is possible via credit and debit cards, bank transactions, and digital wallets (Neteller, Webmoney, Skrill, Qiwi, and Bitcoin). However, we are pretty much sure that this company accepts only crypto wallets, which will be explained in the following section.
Scammed by UF Solution Broker? – Let Us Hear Your Story
It goes without saying that you should not trust UF Solution reviews on the internet because they are manipulated to appear positive. However, if you have bought one of the false offerings by this fraudster and got scammed, no worries. Don’t feel ashamed about it because anyone can be defrauded. First, report swindlers to the relevant authorities and warn other traders by posting negative reviews. Bear in mind that it is possible to get your funds back thanks to a chargeback.
But What Is A Chargeback?
In relation to the chargeback, it allows victims to get their misappropriated money back. For example, VISA and Mastercard enable you to be repaid, but you must apply for the refund within 540 days. Bank transfers are also returnable; however, repayment is only possible until a transaction is confirmed. As regards crypto payments, as mentioned, they are preferred by broker scams since it is hard to trace and cancel them.
Nevertheless, cybersecurity experts can assist you with reversing these forms of payment. Thus, contact our company and get professional help relating to chargeback.