Risk Control
Software Index
Summary: Universal Futures, an Indonesia-based forex broker, has garnered mixed reviews, with notable strengths in regulatory compliance and account options. However, concerns about limited trading instruments and customer support persist.
Note: It is essential to acknowledge that different entities operate under the name "Universal Futures," which may lead to confusion. Hence, this review focuses on the specific broker regulated in Indonesia.
How We Rate Brokers: Our ratings are based on a comprehensive analysis of user feedback, expert opinions, and factual data regarding broker services.
Founded approximately 2 to 5 years ago, Universal Futures operates primarily in Indonesia and is regulated by the Badan Pengawas Perdagangan Berjangka Komoditi (Bappebti) and the Jakarta Futures Exchange (JFX). The broker offers access to various financial instruments, including futures contracts and options, through the widely recognized MetaTrader 4 platform. Clients can open different types of accounts, catering to diverse trading preferences and capital levels.
Regulated Regions: Universal Futures is regulated in Indonesia, holding licenses from Bappebti and JFX, which ensures compliance with local regulations. This regulatory framework offers clients a degree of protection and trustworthiness.
Deposit/Withdrawal Currencies/Cryptocurrencies: The broker supports several deposit and withdrawal methods, including bank transfers, credit/debit cards, and e-wallets. However, specific details about accepted cryptocurrencies are not extensively covered in the sources.
Minimum Deposit: The minimum deposit to open an account with Universal Futures is reported to be $100 for the micro account, while the standard account requires a minimum deposit of $500, which is higher than what many competitors offer.
Bonuses/Promotions: There is limited information regarding bonuses or promotional offers available to new clients, which could be a drawback for traders looking for additional incentives.
Tradable Asset Classes: Universal Futures primarily focuses on futures contracts and options. However, the limited range of instruments available may not cater to traders looking for diverse trading opportunities, as highlighted in several reviews.
Costs (Spreads, Fees, Commissions): The broker offers competitive spreads starting from 0.5 pips, but the cost structure may vary based on the account type. Some sources indicate that spreads can reach up to 3 pips for specific instruments, making it crucial for traders to understand the fee structure before trading.
Leverage: Universal Futures provides a maximum leverage of 100:1, which can amplify returns but also increases risk exposure. Traders should exercise caution and implement proper risk management strategies.
Allowed Trading Platforms: The primary trading platform offered by Universal Futures is MetaTrader 4 (MT4), known for its user-friendly interface and extensive features, including automated trading capabilities.
Restricted Regions: While the broker operates primarily in Indonesia, its geographic reach may be limited, potentially affecting traders outside this region.
Available Customer Service Languages: Universal Futures provides customer support primarily in English and Indonesian. The availability of support can be a concern, particularly during high-volume trading periods, as some reviews suggest delays in response times.
Account Conditions: The different account types offered by Universal Futures cater to various trading needs, but the relatively high minimum deposit for the standard account may deter some traders.
Tools and Resources: While the broker provides access to the MT4 platform, the educational resources and additional tools available are somewhat limited, which could affect new traders looking for guidance.
Customer Service and Support: Customer support is available through live chat and email, but reviews indicate that response times may be slow, particularly during peak periods. This aspect could be critical for traders needing immediate assistance.
Trading Setup (Experience): The trading experience on the MT4 platform is generally positive, but the limited range of instruments and potential for high leverage risks require traders to be well-informed and cautious.
Trustworthiness: Universal Futures is regulated by local authorities, which adds a layer of trust. However, concerns about the limited geographic presence and customer support availability may affect overall confidence in the broker.
User Experience: The user experience on the MT4 platform is generally favorable, with many traders appreciating its functionality. However, the lack of diverse trading options can be a drawback for some users.
In conclusion, the Universal Futures review indicates that while the broker has established a solid foundation in regulatory compliance and user experience, potential clients should weigh the limitations in trading instruments and customer support before making a decision. Conducting thorough research and utilizing demo accounts is advisable for traders to assess the platform's suitability for their trading needs.