UBK Markets Broker Review

UBK Markets Review 3

Latest All(3) Neutral(1) Exposure(2)

Exposure

Feeling

Regulated by a small country, there have recently been issues reported concerning withdrawals and fees. Caution is advised when considering involvement with this entity. It is not recommended.

小张的张

03-20

Exposure

It is not possible to withdraw money.

The UBK company promised to withdraw money from another company, which took $8,000 from me. I entered into an agreement with UBK to become their client, this gave the company the right to protect my interests. They seemed to have found the money and began making a transfer of $6,000. That’s where it all started problem. I had to pay for the stamps, because I was officially engaged in activities with them. In a word, I paid for everything. I got into huge debts (and still do) and as a result they also provided me with a payment for $500. Of course, I didn’t pay that amount I was able to. The money was never transferred to me, my personal account was blocked.

+6

Гуска Сергей Николаевич

2024-02-15

Neutral

The company UBK Markets seems safe, but the website gives me the feeling that it's hard to read... I probably wouldn't do business with it.

FX1142952127

2022-12-13

UBK Markets 2025 Review: Everything You Need to Know

　　Summary: The overall assessment of UBK Markets reveals a mixed reputation among traders, with regulatory compliance being a notable strength. However, concerns regarding customer service and withdrawal issues raise red flags. The broker offers a low minimum deposit and a unique trading platform, but the lack of transparency in spreads and leverage options may deter potential clients.

　　Note: It is important to recognize that UBK Markets operates under different entities across regions, which could impact user experience and regulatory protections. This review takes a balanced approach to present various perspectives on the broker.

Ratings Overview

Account Conditions: 6/10
Tools and Resources: 5/10
Customer Service and Support: 4/10
Trading Setup (or Experience): 6/10
Trustworthiness: 5/10
User Experience: 4/10

　　We evaluate brokers based on a comprehensive analysis of user feedback, expert opinions, and factual data.

Broker Overview

　　Founded in 2011, UBK Markets is a Cyprus-based brokerage firm that offers forex and social trading services. The company operates under the regulation of the Cyprus Securities and Exchange Commission (CySEC), which provides a level of security for clients. The broker utilizes its proprietary trading platform, known as the Ipro Marketplace, which is designed to cater to both novice and experienced traders. UBK Markets primarily offers trading in forex pairs, with a minimum deposit requirement of just $25, making it accessible for new traders.

Detailed Breakdown

Regulated Areas/Regions

　　UBK Markets is primarily regulated in Cyprus, allowing it to provide services across the European Union. The CySEC regulation ensures that the broker adheres to strict financial standards, offering a degree of protection for clients' funds.

Deposit/Withdrawal Currencies/Cryptocurrencies

　　The broker accepts deposits and withdrawals in various fiat currencies, including USD. However, there is no indication of support for cryptocurrency transactions, which may be a limitation for some traders.

Minimum Deposit

　　The minimum deposit required to open a classic account with UBK Markets is $25, a low barrier that is particularly attractive for beginners looking to enter the forex market.

Bonuses/Promotions

　　Currently, UBK Markets does not offer any promotional bonuses, which may be a downside for traders seeking additional incentives to start trading.

Tradable Asset Classes

　　UBK Markets primarily focuses on forex trading, with a range of currency pairs available. However, it does not seem to offer CFDs on other asset classes such as commodities or indices, which could limit trading options for more diverse strategies.

Costs (Spreads, Fees, Commissions)

　　The broker claims to offer variable spreads starting from 0 pips, but specific spread information for different assets is not clearly provided. Traders have reported a commission of $9 per trading lot, which effectively means that the broker's spread starts at 0.9 pips. This lack of transparency regarding spreads has been a point of concern among users.

Leverage

　　UBK Markets offers leverage of up to 1:30, which may be sufficient for beginner traders. However, experienced traders accustomed to higher leverage options (up to 1:500) may find this limitation unappealing, particularly when compared to other brokers in the market.

Allowed Trading Platforms

　　The Ipro Marketplace is the exclusive trading platform offered by UBK Markets. While it shares some similarities with popular platforms like MetaTrader 4, it is a distinct product that includes features such as economic data analysis and an investment module. The mobile version of the platform is currently available only for Android users, which may limit accessibility for those on other devices.

Restricted Regions

　　While UBK Markets operates under CySEC regulation, the specific regions where services are restricted are not clearly outlined in the available information. This lack of clarity could pose challenges for potential clients in certain jurisdictions.

Available Customer Service Languages

　　UBK Markets provides customer support in multiple languages, including English and Russian. However, users have expressed frustration over the difficulty in reaching customer service, with many reporting long response times and limited support options.

Ratings Revisited

　　Account Conditions: 6/10
　　The low minimum deposit is appealing, but the lack of account types may limit flexibility.
　　Tools and Resources: 5/10
　　The Ipro Marketplace offers unique features, but its usability may vary for different traders.
　　Customer Service and Support: 4/10
　　Reports of slow response times and limited contact options significantly impact this score.
　　Trading Setup (or Experience): 6/10
　　Overall trading experience is decent, but transparency issues regarding spreads and commissions are concerning.
　　Trustworthiness: 5/10
　　CySEC regulation adds a layer of trust, but withdrawal issues reported by users raise significant concerns.
　　User Experience: 4/10
　　Mixed reviews from users about the platform and customer service hinder a positive user experience.

Detailed Analysis

　　Account Conditions: The minimum deposit of $25 is a strong point, but the limited account types may not cater to all trading strategies.
　　Tools and Resources: The Ipro Marketplace is a unique offering, but its effectiveness can vary. The platform is not as widely recognized as MetaTrader, which may deter some traders.
　　Customer Service and Support: Users have reported significant difficulties in contacting customer support, which is a major drawback for a trading platform. The lack of a direct support phone number on the website further complicates this issue.
　　Trading Setup (or Experience): While the trading conditions are adequate for beginners, the lack of transparency regarding spreads and commissions can lead to confusion and dissatisfaction.
　　Trustworthiness: Despite being regulated by CySEC, the numerous complaints regarding withdrawal issues and unclear fee structures cast doubt on the broker's reliability.
　　User Experience: The overall user experience is hampered by customer service challenges and the platform's accessibility issues, particularly for those using devices other than Android.

　　In conclusion, the UBK Markets review indicates that while the broker has some attractive features, such as a low minimum deposit and regulatory oversight, potential clients should carefully consider the reported customer service issues and lack of transparency before committing their funds.