UKFinvest is a forex and CFD broker that has been accused of being a scam by many traders. In this review, we will take a closer look at the company and its trading platform to see if these accusations are true. We will also discuss the risks of trading with UKFinvest and recommend some alternative brokers that you can trust.
Company Overview
UKFinvest is a trading platform that lets you trade more than 250 different products, such as Forex, Commodities, Stocks, and Indices. However, Bitcoin and other cryptocurrencies are what they do best. The broker talks about how easy it is to get to a lot of capital and how you can trade on different platforms with their quick execution and API solutions.
The broker’s address, on the other hand, refers to the beautiful islands of Seychelles, which is a great place to go on vacation, not the investment company.
Does UKFinvest Have Any License?
No, UKFinvest does not have any license from any financial authority. This is a major red flag, as it means that the broker is not subject to any regulatory oversight.
Is UKFinvest Regulated By Any Authority?
UKFinvest is a company based in the Republic of Seychelles. Its address is Suite 24, Eden Plaza, Victoria, PO Box 438, Mahe, Seychelles. Traders are led to believe that the brokerage is based in London when it is actually in Seychelles, an offshore area that does not control online Forex trading. We can be sure that the exchange is not being watched by any government agency. Because Seychelles has very lax rules about starting a new business, it is a very popular place for people who want to commit fraud to go.
Pros and Cons
Pros | Cons |
Wide range of trading instruments | Not regulated by any financial authority |
Competitive spreads | History of customer complaints |
Low minimum deposit | High withdrawal fees |
How Does UKFinvest Reach To Their Prey?
UKFinvest uses a variety of methods to reach out to potential victims, including:
- Cold calling
- Email marketing
- Social media advertising
- Fake online reviews
Technical Details
Minimum Deposit:
The minimum deposit at UKFinvest is $250. This is relatively low compared to other forex brokers. However, it is important to note that UKFinvest has a history of making it difficult for traders to withdraw their money.
Trading Platform:
The Sirix technology from Leverate is used by UK Financial Investments. It is a good choice for forex trading software. You can get it as a desktop download, a web-based form, or a mobile app.
Most traders still like to use MetaTrader4 (MT4), even though Sirix isn’t a bad tool. New traders should be able to figure it out without much trouble, but experts love the charts because they are so good. There are also a lot of ways to customize the platform and user-made tools that can be used with it.
Spread:
UK Financial Investments said that the standard EUR/USD spread starts at 2.4 pips, which is more than twice as much as the average in the sector. The spread for this pair was between 2.9 and 3.0 pips when we tried the broker’s platform in demo mode. For EUR/USD, the spread at most brokers is between 1.0 and 1.5 pips.
Leverage:
UKFinvest offers leverage of up to 1:1000. This is very high leverage, and it can lead to significant losses if you are not careful.
Packages and Products They Offer
UKFinvest offers a wide range of trading instruments, including forex, CFDs on stocks, indices, and commodities.
Trading account | Min. deposit | Max. leverage | Spread |
Mini | $250 | 1:1000 | from 2.4 pips |
Premium | $3 000 | 1:1000 | from 2.1 pips |
VIP | $50 000 | 1:1000 | from 1.8 pips |
Withdrawal and Deposit Method
UKFinvest offers a variety of deposit and withdrawal methods, including credit cards, debit cards, and wire transfers. However, the company has been accused of making it difficult for traders to withdraw their money.
What Do Their Previous Traders Say?
There are many negative reviews of UKFinvest online. Traders have accused the company of fraudulent activities, such as manipulating trades and refusing to allow withdrawals.
Summing Up- Why Should Not You Trust UKFinvest
Here are some of the reasons why you should not trust UKFinvest:
- The company is not regulated by any financial authority.
- There are many negative reviews of UKFinvest online.
- The company has a history of making it difficult for traders to withdraw their money.
- UKFinvest offers very high leverage, which can lead to significant losses.
If Bad Things Happen, Where Can You Get The Quick Solution?
If UKFinvest has scammed you, you may be able to recover your losses. There are a number of companies that specialize in helping traders recover their money from fraudulent brokers.
Our experts can help you in choosing the perfect recovery service for you. Also, you will get a professional consultation to get the perfect solution for your case.
File A Complaint Against Scam Broker's
Final Thoughts
UKFinvest is a scam broker that you should avoid at all costs. The company is not regulated by any financial authority, and there are many negative reviews of it online. If you are looking for a reputable forex broker, we recommend that you choose one that is regulated by a top-tier financial authority, such as the UK’s Financial Conduct Authority (FCA).
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