UCO Bank Forex Broker

UCO Bank Review Summary Founded1943 Registered Country/RegionIndia RegulationNot regulated Products and ServicesCorporate Banking, International Banking, Government Business, Rural Banking, Digital Banking Trading PlatformInternet Banking, WhatsApp Banking, mBanking Plus, UCO Pay+, UCO mPassbook, UCO Secure, Online Services, Instant Digital Loan, UCO Smart Pay Customer SupportAddress: UCO Bank Head Office, 10, B T M Sarani, Kolkata - 700001, West Bengal, India Toll Free Number: 1800 103 0123UCO Bank Information Founded in 1943 and based in Kolkata, UCO Bank is among India's major public sector banks providing a wide spectrum of financial services to people, businesses, NRIs, and government agencies. The bank offers branch-based services like forex, treasury, retail loans, and specialized business banking as well as integrated digital platforms.Pros and Cons ProsCons Wide service coverage: rural, government, corporateNot regulated Modern digital platformsNo access to global trading platforms like MT4 or MT5 Fee concessions for MSMEs and agricultureRelatively complex fee structure for larger or high-risk borrowersIs UCO Bank Legit? UCO Bank is not governed as a forex or CFD broker in its registered nation, India. It also lacks trading-related licenses from major international regulatory authorities including the FCA (UK), ASIC (Australia), or CySEC (Cyprus), which are usually considered industry standards for trader protection and regulatory control. The domain ucobank.com was registered on August 22, 1997, and it is set to expire on August 21, 2025. It was last updated on August 6, 2024. The domain status is marked as client transfer prohibited, which means it is protected against unauthorized domain transfers.What Can I Trade on UCO Bank? Spanning corporate, international, government, rural, and retail banking, UCO Bank offers all-encompassing banking solutions. From deposits, loans, remittances, foreign exchange, and treasury to digital banking tools including WhatsApp and internet banking, the services cover all aspects. CategoryProducts/Services Offered Corporate BankingLoans/Advances, Deposits, Value Added Services, Credit Growth International BankingProducts and Services, Remittances, Forex & Treasury Services, Authorized Forex Branches NRI ServicesNRI Corner, Remittance, Services Government BusinessGovt. Deposit Schemes/Bonds, Tax Collection, Pension Payment, Policy Info, Valuation, Others Rural BankingMicrofinance Loans, Agriculture Credit, Personal Loans, Financial Inclusion, Deposits, SLBC Digital BankingInternet Banking, WhatsApp Banking, UCO Rewardz, Social Media Access, Loan ToolsUCO Bank Fees From corporate to international to government to rural to retail banking, UCO Bank offers thorough banking solutions. From deposits, loans, remittances, foreign exchange, and treasury to digital banking tools including WhatsApp and internet banking, the services cover everything. CategoryFee / CommissionRemarks Processing Charges0.25% – 0.50% + GSTNil for small MSME/Agriculture loans; based on credit rating Upfront Fees (Term Loan/DPG)0.75% – 1.50% + GSTBased on external rating; Nil for < ₹25,000 Documentation Charges₹250 – ₹50,000 + GSTBased on limit size; waived for small borrowers Mortgage Charges₹10,000 – ₹35,000 + GSTBased on limit; Nil for loans < ₹10 Lakh Inspection Charges₹800 – ₹50,000 + GSTBased on limit; annual charge Prepayment Charges2.00% + GSTWaived for MSEs and agriculture loans Supervision Charges₹3,100 + GST per half yearFor accounts ≥ ₹1 crore Modification of Sanction Terms₹1,500 – ₹5 Lakh + GSTBased on limit; applicable only for customer-initiated changes Issuance of NOC₹2,500 – ₹1.5 Lakh + GSTBased on loan limit LC Opening ChargesUsance: 2.40% p.a.; Commitment: 1.20% p.a. + GSTDiscounts for AAA/A borrowers; additional ₹250 SFMS fee Bank Guarantee Commission1.25% – 3.60% p.a. + GSTBased on rating & tenure; higher for unrated or SPV/JV guarantees Amendments (LC/BG)₹1,000 + GST per amendment + SFMS feeAdditional ₹250 per SFMS message Project Appraisal Charges0.20% + GST (max ₹5 Lakh)If appraisal shared with others in consortium Pre-Processing ChargesNilActual third-party verification charges (CIBIL, CRIF, etc.) recovered separately Revalidation Charges25% – 50% of original feesBased on size; subject to minimum ₹15,000 + GST Withdrawal of ConcessionsFull recovery of discounts + 2% prepaymentOn takeover by another bank LC Negotiation Charges₹500 – ₹3,000 + GSTBased on bill size + SFMS feeTrading Platform Trading PlatformSupportedAvailable DevicesSuitable for What Kind of Traders Internet Banking✔Desktop, WebRetail users preferring full-service online access WhatsApp Banking✔Mobile (WhatsApp enabled)Users seeking quick, chat-based banking services mBanking Plus✔Android, iOSRetail users for comprehensive mobile banking UCO Pay+✔Android, iOSUPI users for quick, seamless digital payments UCO mPassbook✔Android, iOSCustomers tracking transaction history digitally UCO Secure✔Android, iOSSecurity-focused users for transaction verification Online Services✔Desktop, WebGeneral users accessing banking tools and utilities Instant Digital Loan✔Web, MobileUsers needing quick, automated loan approvals Cardless Transaction✔ATM, MobileUsers preferring cash withdrawals without physical cards UCO Corporate Mbanking✔Web, MobileBusinesses managing accounts and transactions Payment Gateway✔WebOnline merchants integrating payment collections POS✔POS DevicesRetail merchants accepting card payments Merchant QR & Sound Box✔QR Device, Mobile AppSmall businesses using UPI QR-based transactions Bhim UCO UPI✔Mobile AppAny users making UPI payments UCO Smart Pay✔Mobile AppRetailers offering integrated digital payment experience