The first thing we realize about this company is that their legal ownership is unknown. Yet, they present themselves as a UK-based company. However, such companies often end up as frauds.
In general, this company’s domain was registered in September 2023. But research about this broker led us to Investous.pro platform, an identical twin of Uxcoins company. Therefore, let’s find out what the similarities are and how this Uxcoins review can prevent you from being scammed.
| Regulated by: | No regulations |
| Is This Company Safe? | No |
| Known Websites: | https://Uxcoins.io (active); (other brand) |
| Have Warnings from: | N/A |
| Registered in: | UK (allegedly) |
| Operating since: | 2023 |
| Trading Platforms: | Web trader |
| Maximum Leverage: | 1:300 |
| Minimum Deposit: | N/A |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptocurrencies, Forex, Commodities, Indices, Shares, Bonds, ETFs |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Seeing this company being a copycat of a company already exposed as a scam, you can expect withdrawal problems from the first day with them. Therefore, if that happens feel free to contact our team for refund advice. |
Legal info: Is Uxcoins legit or a scam?
The first thing we always check for with any brokerage is the regulation. Without it, companies can say anything they want and get away with it. That’s why you should primarily trust Tier 1 licenses like FCA, ASIC, and BaFin. However, Uxcoins brokerage doesn’t have any.
Consequently, all the features the company offers should be taken with reserve. Especially conditions and security measures.
Who are Uxcoins Victims?
Even though there are no Uxcoins reviews, analytics reveal where this company is mostly active. Citizens from those countries can also be seen in their other brand reviews. In any case, the two most popular targeting countries are:
Luckily, banks and regulators are doing their best to prevent fraud. Still, these guys are con artists who know exactly how to avoid some things.
But if you are one of those who got tricked, feel free to contact our refund experts for advice. For some general advice, you can also read our MyBlockX review.
Leverage, Commissions, Spreads, Fees and Taxes
Even though this firm has some transparent conditions, you can never be sure if that’s all. Surprisingly, the company’s leverage is heavily breaching the FCA maximum allowed leverage of 1:30. Instead, traders can get Uxcoins CFD trading leverage up to 1:300.
Spreads for certain currency pairs start from 1.1 pips. Yet, overnight swap fees, commissions, and other trading-related fees are not disclosed.
Bonuses
With non-existent terms and conditions documentation, it’s hard to say if the company offers any bonuses. But if they do, make sure to check the bonus policy first. Very often, scam brokerages like Uxcoins Forex broker can hide malicious clauses there. Mostly preventing traders from withdrawing their funds.
Uxcoins Trading Features
Some of the features the company advertises are the MT platform, intuitive charting options and analytics, free educational material, and security. Yet, many of these features might be completely fictive.
Not to mention, there are zero advanced options. Such as social and copy trading, EAs, or AI tools.
Trading Platforms Available
Instead of trusted cTrader or MetaTrader, this Uxcoins trading platform is web-based. This is a definition of low trust. Primarily because the company’s staff can easily modify all the information on the platform.
That’s practically the easiest way to make traders believe they are successful. In general, it’s the main reason to trust only licensed exchanges and trusted third-party software solutions.
Available Trading Assets
Even though the company has a wide range of tradeable assets, these could hardly be trusted. Only because of missing regulations. However, if the company was trusted, these options would be reasonably good. Some of the options are:
- Forex – USD/JPY, AUD/HKD
- Indices – ASX 200, DAX 30
- Commodities – aluminium, palladium
- Bonds – EU-Bond, US T-Bond
- ETFs – Russell 2000, QQQ
- Shares – Apple, Microsoft
- Cryptos – BTC, DOT
Account Types
Quite surprisingly, this company doesn’t have any account-type offers. Therefore, all traders get the same conditions and same benefits. If we can call it like that, since most of those are fake.
Unfortunately, the company doesn’t even reveal the minimum deposit requirement. But anything above $10 is too expensive for such a non-transparent firm.
Mobile Trading App
One of the huge disadvantages of the Uxcoins scam broker is a lack of trusted mobile apps. All iOS and Android users have to go through all the trouble trading with a browser. That’s definitely not the most convenient and secure method to trade.
Demo Account
Another key detail is that the company doesn’t offer a demo account. On the other hand, with a demo account available, traders could easily explore the platform and discover all of its flaws. Yet, that’s exactly what this broker wants to avoid.
Education
One of the rare positive things about this company is its educational program. Apparently, there are webinars, educational centers, news, and trading tools available. Thus, you can’t find anything you wouldn’t get with any other top-tier licensed company.
Uxcoins Withdrawal
Important to realize is that the company doesn’t have a transparent withdrawal policy. Even though the website reveals payment methods like Visa, Master Card, Skrill, Neteller Wire, and ZotaPay, that doesn’t mean everything is clean.
The problem starts when traders want to withdraw their funds. Firstly, without a transparent policy, the company can make up any excuse with AML or KYC laws. Secondly, without transparent processing time, they can prolong the process as long as they want. Lastly, but most importantly, without transparent fees, you can end up paying a lot more than you intended to.
Customer Support
As can be seen, the company is offering a wide range of contact options. This is quite positive, considering they are an unregulated company. From 10 PM UK Sunday to 10 PM UK Friday, they are available through:
- Phone call center
- Live chat
Key Information To Consider About Uxcoins
Even though the company might appear legitimate, they are not regulated after all. Therefore, everything is questionable. Instead of risking anything, you can choose a Tier 1 licensed broker and forget about any problems you might have with Uxcoins company.
But the key to safety in the trading world is to know how to protect your funds. Also, to know how to recover it if you get tricked. Therefore, bear in mind that with our chargeback experts, you can always book a consultation. The first one is free of charge, and you have zero obligations. Book your meeting today!
FAQ Section
What is Uxcoins?
Uxcoins is a copycat of investous.pro company. The Uxcoins trading brand was registered in September 2023 and they operate from an unknown location.
How to Withdraw Profit from My Uxcoins Account?
The withdrawal procedure and policy are unknown with this brokerage. Most likely you will have to apply for chargeback or alternative refund options. For more details, contact our chargeback team.
Is Uxcoins Regulated?
No, definitely not. The company is not licensed by any regulator. Especially not the top-tier ones like FCA, ASIC, or BaFin.
Source:
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