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Unicorntradefx Review | Access to the Largest Exchanges or a SCAM?

by Kevin Berry
Rating: 
  1/5   Reviews: 3
Unicorntradefx - logo

If you have wanted to try trading, but for some reason were afraid and did not dare, Unicorntradefx offers you its services. The broker promises that you will get direct access to the largest exchanges for trading a variety of assets. However, before starting work with an unfamiliar company, it is worth checking whether it is a scam, and what reviews clients leave about it.

Highlights

🏛️ Country Saint Vincent and the Grenadines
⚠️ Regulation
🖥️ Website https://www.unicorntradedx.com
🎲 Demo Account No
⏳ Start Time 2021
💲 Minimum Deposit €500
⚖️ Minimum and Maximum Leverage 1:1, 1:300
⚙️ Trading Platform WebTrader
📨 Email support@unicorntradedx.com
📞 Phone +35722022618

First Impression of Unicorntradedx.com

The broker’s official website is a major miss, and we even downplayed its badness. The design looks crude. There are a lot of unnecessary and distracting elements on the main page. At the same time, there is tragically little information about the company here. Besides, you probably noticed another negative nuance. It is not clear to us why the broker on its website calls itself either Unicorntradefx or Unicorntradedx. Couldn’t it just pick a name? Maybe, the creators of the project do not care so much, and decided not to even fix the mistakes?

Unicorntradefx - website

Another major red flag is the AnyDesk program. Remember, if you see a broker using it on site, never work with such a company. This software is used in known fraud schemes. Usually, managers offer to install it on a PC for beginners in trading. Then, they get access to your personal data. Honest brokers never use AnyDesk. So, we are already beginning to doubt that Unicorntradefx deserves our attention.

Partnership and Bonuses

There is not a single word about the affiliate program in the terms and conditions. However, you can enter a referral code when registering. So we are again confused. Is this another Unicorntradefx flaw, or is the affiliate program simply hidden?

Do not rush to agree to such offers. You will not be able to withdraw money until you fulfill certain conditions of the company. To work off the bonus, you will need to make a trading volume on your account. It is a deposit + bonus x 30. The company can change these conditions and assign others. It will be unpleasant if you open an order with leverage, and in the process, Unicorntradefx changes the terms of the bonus and reduces it, isn’t it? You can refuse the bonus without completing the trading turnover. That will cost you a 7.5-30% fine. The broker will deduct this money from your account.

Account Opening on Unicorntradefx.com

Registration on the Unicorntradefx website is standard. You will need to fill out a form with personal data:

  • First and last name
  • Email
  • Password
  • Country of residence
  • Phone number
  • Currency.

You can enter a promo code if you have one.

Registration

You probably won’t be able to create an account simply so. The fact is that this promo code is necessary. Where to get it? If you are reading a Unicorntradefx review, then likely its managers have already called you with an offer of services. As a rule, they will help you create an account. They will also provide a promo code, and even try to persuade you to install AnyDesk.

Verification

Unicorntradefx insists that you pass verification as soon as possible. It promises to send you a request by mail with a list of all the necessary documents. You will need to take a photo of your:

  • Passport or ID card
  • Credit card
  • Utility bill with your name and address
  • Signed history of recent card transactions.

How quickly Unicorntradefx support checks your documents, is probably secret information.

Pros
  • The process is described in detail
  • The security settings are respected. You will need to close the numbers on the card and the CVV code.
Cons
  • The terms of the checking process are not specified
  • It is inconvenient to send documents via mail.

Trading Software

Unicorntradefx claims to provide the best trading platform. However, you will not be able to check it before registration. The broker does not even provide a demo account. Besides, the company says that it has a mobile app. However, there is no download link anywhere on the site. Most likely, traders are simply being lied to. Unicorntradefx innovative platform here will turn out to be an ordinary WebTrader. It is very popular with different scammers. This software is inexpensive and easy to set up. You can trade with it, but not very efficiently.

Features Unicorntradefx IC Markets  Axi
Demo Account ✔️ ✔️
Mobile App ✔️ ✔️
Own Development ✔️

How Can I Trade With Unicorntardefx?

Unicorntradefx offers CFD trading and several additional services. You can open orders on your own. Or you can deposit 1,000 euros, and transfer all the authority managing the account to the company. In this case, you will act as a liquidity provider, and the broker will report on the status of your investments to you. Even the rough yield in this section is not indicated. There is no financial data for previous periods either.

Finally, the most ridiculous among the additional services is IPO investing. The broker claims to have already been involved in several projects that you have heard about. The only problem is that when these companies went public, Unicorntradefx did not even exist yet. So this section is a complete lie.

All Info About Accounts

Unicorntradefx provides several types of accounts. For each, spreads for some currencies and other assets are described. There are also some additional services.

  1. Micro. The minimum deposit is 500 euros. There are no additional services.
  2. Silver. The minimum deposit is 1000 euros. You will get access to a daily morning review of the markets.
  3. Gold. The minimum amount on the account must be at least 10 thousand euros. You will also get access to a premium market analysis daily. Besides, a personal manager will work with you.
  4. Platinum. The minimum deposit is 50 thousand euros. Additionally, you will get premium customer support.
  5. Exclusive. The minimum deposit is 100 thousand euros. Spreads are slightly lower here than in the previous account. Otherwise, all services are the same.
Pros
  • Several types of accounts
  • Daily market analysis.
Cons
  • Poor additional services
  • No demo
  • No swap-free account
  • High amounts for depositing.

Market Analysis and Education With Unicorntradedx.com

Unicorntradefx does not provide education services. However, it has a market analysis. As we have already seen, you will not even get this service on accounts with a minimum deposit amount. To get a morning review of the markets, you will have to deposit at least 1,000 euros. Daily market analysis will cost you 10 thousand euros. Think carefully, do you need these services at this price? Moreover, Unicorntradefx does not provide any proof of the professionalism of its employees.

Deposit, Withdrawal, and Fees

The company allows you to fund and withdraw money from your account by credit cards and wire transfers. The withdrawal of money should be done using the same payment method as the deposit. The minimum withdrawal amount is 100 euros. Also, Unicorntradefx may require additional documents or cancel your withdrawal request.

Features Unicorntradefx Oanda  Axi
Debit/Credit Cards ✔️ ✔️
Electronic Payments ✔️ ✔️ ✔️
Crypto Transfers
Deposit Fee
Withdrawal Fee ✔️ ✔️ ✔️

How Can I Contact It?

To contact Unicorntradefx, the phone number and email are specified. There is also an office address on the website. For some reason, it is different from the legal address. It turns out that geographically the company is located in Cyprus.

Pros
  • All contact details are indicated.
Cons
  • Different addresses.
  • It’s hard to get through to support.

Is Unicorntradefx Dangerous?

The company’s services leave a controversial impression. They are not like those that are usually offered by reliable brokers. Unicorntradefx itself also has many shortcomings.

How Long Does The Broker Work?

As we already mentioned, the company writes that it participated in a public offering in 2018. Why cheat traders? The management company of Unicorntradefx was only incorporated in 2021. We also checked the domain info.

The site was created on June 3, 2022. Unicorntradefx worked in the financial markets for less than a year. Now it is clear why the company does not provide reporting and statements for past periods of investment. It just doesn’t have that data since it’s a total newbie in the industry.

Domain info

How Is Unicorntradefx Regulated?

The broker’s headquarters are located in Cyprus. The management company is registered in Saint Vincent and the Grenadines. It’s a pity that Unicorntradefx likes offshore zones so much. Firstly, it is difficult for traders to even get to these islands if it comes to court. Secondly, the local regulator of Saint Vincent and the Grenadines does not license brokers. Therefore, the hero of our review also provides services without a license and supervision. That, by the way, allows Unicorntradefx to change the terms and conditions as it pleases and at its sole discretion.

Features Unicorntradefx IC Markets  Axi
European Zone ✔️ ✔️
Asian Zone ✔️
American Zone
African Zone
Offshore ✔️

Frequently Asked Questions (FAQ)

How to Trade With Unicorntradefx?

Get a promo code, register on the site, pass verification, and start trading.

Is Unicorntradefx Legit?

This broker is registered offshore and provides services without a license.

How Risky Is It?

Trading with an unlicensed broker like Unicorntradefx will cause you to lose your deposit. Always choose only reliable companies under good supervision.
Kevin Berry
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Expert Opinion

If you were planning to trade with Unicorntradefx, you definitely shouldn’t, as our editors have exposed it as a scam. I especially draw your attention to the AnyDesk program, since fraud with it is very common. From 2017 to this moment, it has even come to the point that large financial and government institutions from different countries have forbidden to install this program and use it in any way. In reality, not only fake brokers but also fake sellers, fake support employees, blackmailers and other scammers use it to fraud.

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Unicorntradefx rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

3 reviews about Unicorntradefx

Robert November 15, 2022 - 22:01
Pathetic liars
The level of trust
Efficiency of technical support

These scammers convinced me to install a program for remote access. They promised that they would teach profitable trading faster this way. At first everything was really normal. I even recommended this broker to my friends. But one day I went into my personal account once again and found zero euros there. They used AnyDesk to get my money.

Reply
Ethan December 9, 2022 - 19:43
A clever way of cheating.
The level of trust
Quick withdrawal of funds

Unicorntradefx scammers told me that they would help in increasing capital. They actively gave trade recommendations. Trades were profitable only as long as I continued to make money transfers here. As soon as I made a request to withdraw money, the situation changed dramatically; unfortunately, not for the better for me. I’m pretty sure it’s the scammers who set it all up. As soon as you stop funding your account, your deposit will immediately go into a negative area.

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Megan December 21, 2022 - 08:16
Here you will easily lose money
The level of trust

I can’t say something good about Unicorntradefx. The scam company takes advantage of the fact that newcomers are easily bribed with welcome bonuses, zero commissions, and a low minimum deposit. I fell for it too. Now I regret it, because I left a lot of money on this site due to my own stupidity. You have to check the feedback and legal documents, and only then trust your funds. I didn’t do this. It is my biggest mistake…

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