As of recently, the uni-co.io domain is no longer active, meaning that all the clients who had any funds with this firm cannot access them. And that was the main reason for us to review the firm and come up with some information that could help victims.
| Broker status: | Unregulated |
| Regulated by: | Unlicensed brokerage |
| Scammers Websites: | uni-co.io bitrade.fun |
| Blacklisted as a Scam by: | AMF Quebec |
| Owned by: | FORTUNE INVESTMENT GROUP Ltd |
| Headquarters Country: | Marshall Islands |
| Foundation year: | 2020 |
| Supported Platforms: | WebTrader |
| Minimum Deposit: | $250 |
| Cryptocurrencies: | Available |
| Types of Assets: | FX, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | 1:100 |
| Free Demo Account: | No |
| Accepts US clients: | Yes |
What About Uni-Co Regulation?
Uni-Co was a brand of FORTUNE INVESTMENT GROUP Ltd from the Marshall Islands. Next to Saint Vincent and the Grenadines, which have no financial regulator at all, the Marshall Islands have the worst reputation. Also, GLOFSA barely supervises companies that have obtained a license and doesn’t bother to control those who haven’t.
However, we found a broker under the new domain, and you would never guess it’s related to Uni-Co. The domain is bitrade.fun, but the website is entirely the same.
In addition to the above, we strongly advise you not to invest in Btec Global,Opson International andVideForexfraudulent brokers.
Why Must a Broker Have a License?
The broker has to have a license in order to operate according to regulatory rules, reduce the risks, keep your funds in segregated accounts, and form compensation funds. Since Uni-Co didn’t get GLOFSA or any Tier1 regulation, all who have been defrauded are having a hard time tracking the funds after the broker vanished.
Uni-Co Warnings From Financial Regulators
It looks like there were many Uni-Co complaints in Canada since AMF of Quebec has issued an official warning against the firm. Of course, According to the AMF, Uni-Co is providing financial services illegally in this country, and residents that have been involved with it should file a dispute immediately.
Traders Reviews About Uni-Co Scam
The majority of Uni-Co reviews are about withdrawal issues. Ever since the website was shut down, this firm is not contacting the customers, and they have no information about their funds. Furthermore, it seems that the broker was stealing funds using remote software, AnyDesk. So, if you are ever approached to allow someone access, make sure you know and trust this person.
Also, clients are mentioning that they have been redirected to the broker’s new website, but the same scheme pattern continued.
Uni-Co Trading Scam – Where Does The Broker Operate?
According to reviews, Uni-Co provided its services mainly in:
- Canada
- US
- Germany
- France
- Singapore
Supported Trading Platforms – Available Trading Software
While the broker claimed its WebTrader is stylish and adjusted to everyone, it was, in fact, a basic platform. There were no special tools or options, lacking EAs and social trading. The spread started at 2.6 pips for EUR/USD pair, while the industry standard is around 1.5 pips. So, not just that the platform was not stylish and powerful, but it was also quite pricey.
Everything About Uni-Co Trading Accounts
The new website showed us that there are 4 Uni-Co account types.
Accounts differ in available trading assets, news and education, and the initial funding.
Uni-Co Range of Trading Instruments & Markets
The broker offered a standard range of trading assets:
- Currency pairs
- Commodities
- Indices
- Shares
- Cryptocurrencies
All with a rather high spread and unregulated leverage up to 1:1000.
Also remember the names of theFinsRoyal,Fin Venture andFPC Marketstrading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Uni-Co Deposit and Withdrawal Methods
Uni-Co was quite interesting when it came to payment methods. Here are the options:
- Debit/credit card
- Wire transfer
- Cryptocurrencies
- Gumballpay
- Zoftpay
- NeoBanQ
- Introrix
- Starbill
- Betatransfer
- Uni-CoPay
- BtqFinance
We have to admit that our knowledge stopped after cryptocurrencies. These might be local payment solutions, but we’re sure that getting your funds back after they have been processed through an anonymous payment method is quite challenging.
Meanwhile, there’s nothing on withdrawals, commissions, and terms.
Scammed by Uni-Co Broker? – Tell Us Your Story
Suppose you were scammed by Uni-Co or its successor bitrade.fun, let us know. Our chargeback experts will evaluate your case and help you file a dispute.
But What Is A Chargeback?
That’s a way for your bank to recover funds stolen in online fraud. Since the process is time-limited and you have up to 540 days since the fraudulent transaction occurred, we advise you to act immediately.
Contact us via online chat to book a FREE consultation, and let’s recover your funds before it’s too late!