UnicoFX Forex Broker

Note: UnicoFX's official website - https://www.unicofx.com is currently inaccessible normally.UnicoFX Review SummaryFounded2023Registered Country/RegionAustraliaRegulationASIC (Suspicious clone)Market InstrumentsForex, commodities, indexes, cryptocurrencies and stocksDemo Account/LeverageUp to 1:200Spread/Trading PlatformWeb-basedMin Deposit$1,000Customer SupportTel: +853 +44-208-089-82-60, + 74-99-350-92-89, +49-305-900-13-31Email: contact@unicofx.comAddress: OAKLEIGH SOUTH VIC 3167, MELBOURNE AUSTRALIA Founded in 2023, UnicoFX is a forex broker registered in Australia, offering trading through web-based platforms, including forex, commodities, indexes, cryptocurrencies and stocks. The minimum deposit provided is $1,000, which is quite high. Besides, UnicoFX is identified as a suspicious clone by the Australia Securities & Investment Commission (ASIC).Pros and ConsProsConsVarious trading optionsInaccessible websiteVariety of account typesSuspicious clone ASIC licenseFlexible leverage ratiosNo MT4/5Popular payment optionsHigh minimum depositWithdrawal fee chargedLong withdrawal processing timeIs UnicoFX Legit? No, it is not a legit broker. UnicoFX claims to be regulated by the Australia Securities & Investment Commission (ASIC). However, it's a suspicious clone.The Australia Securities & Investment Commission (ASIC)Regulatory Status Suspicious CloneRegulated by AustraliaLicensed Institution UNICO AUST PTY LTDLicensed TypeCommon Business RegistrationLicensed Number649 547 571What Can I Trade on UnicoFX?Tradable Instruments Supported Forex✔Commodities✔Indexes✔Stocks✔Cryptocurrencies✔Bonds❌Options❌ETFs❌Account TypeAccount TypeMin DepositMax DepositStandard$1,000$5,000Silver $10,000$20,000Gold$25,000$50,000Platinum$100,000+Leverage UnicoFX offers leverage varies from 1:25 to 1:200 depending on different accounts. UnicoFX claims that it offers leverage of 1:500 in the client area. However, there are no account types in the user area, which is paradoxical between site and user area.Account TypeMax LeverageStandard1:25Silver 1:50Gold1:100Platinum1:200Trading Platform UnicoFX provides traders with the web-based platform.Trading PlatformSupported Available Devices Suitable for Web-based✔Web/MT4❌/BeginnersMT5❌/Experienced tradersDeposit and WithdrawalPayment OptionMin WithdrawalWithdrawal FeeWithdrawal TimeWire transfers$250/Up to 5 daysCredit/debit$100$35Bank transfer $50E-wallets$25