UAG foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://www.uagmarkets.com/, about the company's legal and temporary regulatory information, the company's address No. A10, Village 1 Sangkat Sras Chork Khan Daun Penh Phnom Penh Cambodia.
UAG Forex Broker
Basic Information
Cambodia
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Is UAG safe or scam
Rating Index
ECN
Standard
UAG Markets Forex Broker - Complete Information Guide
1. Broker Overview
UAG Markets, operating under the name UAG Trade Asia Co., Ltd, is a relatively new player in the forex brokerage industry, having been established in 2022. The company is headquartered in Phnom Penh, Cambodia, specifically located at No. A 10, Village 1, Sangkat Sras Chork, Khan Daun Penh. UAG Markets is a private entity, focusing primarily on retail forex trading services.
The broker aims to cater to a diverse clientele, including individual traders looking for competitive trading conditions and various market instruments. UAG Markets has developed its services around the growing demand for online trading platforms, particularly in the Asian markets. The company has made significant strides in its short operational history, positioning itself as a versatile broker offering a range of trading options.
UAG Markets operates primarily in the retail forex space, providing access to various financial instruments, including currency pairs, commodities, and indices. The broker's business model emphasizes user-friendly trading experiences, leveraging popular trading platforms like MetaTrader 4 (MT4). The company aims to attract traders by offering low minimum deposit requirements and high leverage options, making it accessible to a wide range of investors.
2. Regulatory and Compliance Information
UAG Markets operates without valid regulation, which raises significant concerns regarding its legitimacy and the safety of client funds. The broker has not provided any specific regulatory license numbers, and it lacks oversight from recognized financial authorities. This absence of regulation is critical, as it means that UAG Markets does not adhere to the stringent compliance measures typically required of regulated brokers.
The broker's operations are based in Cambodia, where it does not appear to be registered with any local regulatory body. As a result, clients should exercise extreme caution when considering trading with UAG Markets. The lack of regulatory oversight implies that there are no protections in place for investors, such as fund segregation or participation in investor compensation schemes.
UAG Markets claims to implement Know Your Customer (KYC) and Anti-Money Laundering (AML) measures, but the efficacy and enforcement of these policies are questionable given the broker's unregulated status. Potential clients should be aware that engaging with UAG Markets carries inherent risks, including the possibility of losing their entire investment without any recourse.
3. Trading Products and Services
UAG Markets offers a variety of trading products, primarily focusing on forex, commodities, and indices. The broker provides access to over 38 forex currency pairs, including major, minor, and exotic pairs. This wide selection allows traders to engage in diverse trading strategies and capitalize on market fluctuations.
In addition to forex, UAG Markets offers Contracts for Difference (CFDs) on various commodities, including precious metals like gold and silver, as well as energy products such as crude oil and natural gas. The inclusion of index CFDs further enhances the trading opportunities available to clients, allowing them to speculate on the performance of major stock indices without owning the underlying assets.
UAG Markets frequently updates its product offerings to meet the evolving demands of traders. However, specific details regarding the frequency of product updates or the introduction of new instruments have not been disclosed. The broker primarily targets retail clients, providing services designed to cater to individual traders' needs.
For institutional clients, UAG Markets may offer tailored solutions, although details on such services are limited. The broker's focus remains on retail trading, with a strong emphasis on providing accessible trading conditions and a user-friendly platform.
4. Trading Platforms and Technology
UAG Markets provides its clients with access to the widely recognized MetaTrader 4 (MT4) trading platform, known for its robust features and user-friendly interface. MT4 is favored by many traders for its extensive charting capabilities, technical analysis tools, and support for automated trading through Expert Advisors (EAs). This platform is available for desktop, web, and mobile devices, ensuring that traders can manage their accounts and execute trades from anywhere.
In addition to MT4, UAG Markets has developed its proprietary trading application, the UAG Trade App, although specific details regarding its features and functionalities are not extensively documented. The app is expected to facilitate mobile trading and provide essential trading tools for users on the go.
The broker employs an ECN execution model, which allows for direct market access and faster trade execution. This model is particularly appealing to traders seeking competitive spreads and efficient order execution. UAG Markets has invested in technology infrastructure, with servers located in the United States, to enhance trading performance and minimize latency.
Moreover, UAG Markets supports API access for traders interested in automated trading solutions, allowing them to connect their trading algorithms directly to the broker's platform. This capability is essential for traders who wish to implement advanced trading strategies and take advantage of market opportunities in real-time.
5. Account Types and Trading Conditions
UAG Markets offers several account types to cater to different trading preferences and experiences. The primary account types include:
Standard Account: This account type requires a minimum deposit of $25 and provides access to a variety of trading instruments. The standard account features spreads starting from 1.3 pips, with no commissions charged per trade.
ECN Account: Designed for more experienced traders, the ECN account necessitates a higher minimum deposit of $100. This account type offers tighter spreads starting from 0 pips, but it includes a commission of $4 per trade, providing a cost-effective option for high-volume traders.
Bonus Account: UAG Markets also offers a bonus account with promotional incentives, although specific details regarding the requirements and benefits of this account type are limited.
- Bank Transfer: Minimum deposit of $1,000.
- Credit/Debit Card: Minimum deposit of $25.
- Cryptocurrency: Minimum deposit of $100.
- Local Depositor: Minimum deposit of $25.
- Bank Transfer: Minimum withdrawal of $1,000.
- Credit/Debit Card: Minimum withdrawal of $10.
- Cryptocurrency: Minimum withdrawal of $100.
- Local Depositor: Minimum withdrawal of $10.
- Email Support: Clients can reach out via email at support@uagmarkets.com.
- Phone Support: Available at +855 81-885-881 and +855 69-433-393.
- Live Chat: Accessible through their website for immediate assistance.
- Social Media: UAG Markets engages with clients via platforms like Facebook and Telegram.
All account types allow for a minimum trade size of 0.01 lots, enabling traders to start with smaller positions. UAG Markets provides leverage options of up to 1:5000, allowing traders to amplify their positions significantly. However, such high leverage entails increased risk, and traders should use it judiciously.
The broker does not specify the overnight fees or swap rates, which can be essential for traders who hold positions overnight. Additionally, UAG Markets does not provide a demo account for prospective clients to test the platform and trading conditions before committing real funds.
6. Fund Management
UAG Markets offers a range of deposit and withdrawal methods to facilitate transactions for its clients. The broker supports the following deposit methods:
The processing time for deposits varies depending on the method chosen, with online transfers and cryptocurrency deposits being processed instantly, while bank transfers may take up to 1 hour.
When it comes to withdrawals, UAG Markets provides several options, including:
Withdrawal processing times are generally quick, with online transfers being processed within 1 hour and cryptocurrency withdrawals taking up to 24 hours. However, clients should be aware that UAG Markets does not cover any fees charged by payment service providers for transactions, which can affect the total amount received.
It is important to note that UAG Markets enforces a strict policy requiring all deposits and withdrawals to be made from accounts registered in the same name as the trading account. This measure is in line with their commitment to KYC and AML compliance, although the effectiveness of these measures remains questionable due to the broker's unregulated status.
7. Customer Support and Educational Resources
UAG Markets provides customer support through multiple channels to assist clients with their inquiries and issues. The support options include:
Customer support is available during weekdays, from 8 AM to 5 PM, although the broker does not specify coverage for different time zones. The support team is reportedly responsive, but the quality of assistance may vary due to the broker's unregulated status.
In terms of educational resources, UAG Markets offers limited materials for traders. The broker provides a trading and economic calendar to keep clients informed about key market events and announcements. However, comprehensive educational resources such as webinars, tutorials, and eBooks are not prominently featured, which may hinder novice traders looking to enhance their trading knowledge.
Market analysis services are also available, with UAG Markets providing daily updates and insights into market trends. These resources can help traders make informed decisions, although the depth and quality of analysis may not match those offered by more established brokers.
8. Regional Coverage and Restrictions
UAG Markets primarily targets clients in the Asian markets, with a specific focus on traders in Cambodia and neighboring countries. The broker has established a presence in the region and aims to cater to the growing demand for online trading services.
While UAG Markets operates in several countries, it is essential to note that the broker has not provided a comprehensive list of prohibited countries. However, due to its unregulated status, it is advisable for potential clients to verify whether their country of residence allows participation with UAG Markets.
The broker's regional offices are located in Cambodia, where it conducts its operations. UAG Markets does not appear to have a significant international presence, which may limit its appeal to traders outside the immediate region. Prospective clients should conduct thorough research to ensure compliance with local laws and regulations before engaging with UAG Markets.
In summary, while UAG Markets offers a range of trading products and services, its lack of regulation and transparency raises concerns for potential investors. It is crucial for traders to consider these factors and seek regulated alternatives to ensure the safety of their investments.
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Exposure WikiFX Review: Traders need to be aware of a broker called UAG Markets
Investors, especially those in Malaysia, need to be aware of a broker called UAG Markets. Don't be fooled by the broker's promotion tactics; read this article before you make a decision.
FX1138933801
Malaysia
My experience with this broker; The platform dashboard easy to use and navigate, with clear and concise information presented in a user-friendly way.They are also have responsive customer support that able answer my questioning address and most importantly is they have fast execution order.
Positive
2023-04-12