UnixBroker Review
Overview of UnixBroker Review:
UnixBroker is an offshore forex and CFD broker. As there is no information about where the broker is based on its website, we consider the location of its parent company which is the Marshal Islands. Marshal Islands is a place that is known for unregulated brokers and most of them are scam brokers. This is not a negative point in case of choosing a reliable broker for investing your funds. One of the claims of UnixBroker is to be a customer-focused broker however, no good review has been found by anyone. Go through the complete review to get a clear picture of this broker.
About UnixBroker:
UnixBroker is a brokerage firm that works under the umbrella of Z Line Corporation LTD. Z Line Corporation LTD is a Marshal Islands-based broker, the Islands of fraudsters. The reason for this is because the Marshal Islands do not have an FX regulator. Just being located in any part of the world does not automatically mean that the broker is providing legitimate trading services. There is no regulatory information, or anything related to license is available on the website. The leverage information has been provided all over the website. The claim by the broker is that its leverage is capped at 1:400, while the Risk Disclosure by the broker says that the maximum value is 1:500. So, it’s either one of these, or it can be something completely different. This type of typical confusing information is provided by shady brokers. The trading platform provided by the broker is MT4 in both desktop variant as well as a web trader.
There is no legal document provided by the broker, which again points to its negative side. The minimum deposit required with this broker is 250 Dollars. The payment methods provided are credit cards, debit cards, and wire transfers, as per the deposit declaration. According to its Terms and Conditions, withdrawal requests are generally processed within the first 30 days of an account being opened. However, after 30 days what will happen nobody knows. The minimum withdrawal amount allowed is 50 Dollars. There are no fees for clearances or withdrawals, but as this is an unlicensed broker, we think that there will be some hidden charges that must be applied. The bonus scheme is also provided by the broker for which one has to trade with 4 times the minimum trading amount, which is kind of unusual.
Is UnixBroker scam or legit?
UnixBroker is an unregulated offshore broker having a parent company located at a place which is known as a shelter for scam brokers. Considering the trading conditions offered by the broker and its terms and conditions we found that both contradict each other. The possible reason for this could be the fact that the broker is trying to catch more and more clients by showing them a brighter picture. UnixBroker doesn’t seem a credible broker and is suspected to be a scam broker. Therefore, we would not recommend investing your funds with this scam broker.
