The website for UnionMarkets welcomes us with the promise that it is a “brokerage with a reputation” whose financial brand “is known throughout the world”. Even yet, UnionMarkets exhorts us to investigate them so that we may judge for ourselves the standing and success of this online broker.
When we checked them out, we discovered that a dubious offshore firm that is not subject to any regulations is operating behind this website. The UnionMarkets also exhibits several characteristics common to scam brokers. Read a complete Union Markets review, and you’ll see that not all things are as good as they appear.
Union Markets Review – How safe is to invest here?
It is impossible to determine which business is behind UnionMarkets and where it is based from the website’s home page. The company’s name, Dip Exelio LLC, is made abundantly apparent in the Terms and Conditions. This is “a legally registered corporation delivering its services to all clients,” according to UnionMarkets.
Registration does not necessarily imply that a broker is regulated, though. St. Vincent and the Grenadines (SVG), an offshore nation known for serving as a hub for dodgy brokers, serves as the company’s base of operations.
Deposit And Withdrawal Methods And Fees
Descriptions of the four different trading Account types—Bronze, Silver, Gold, and Platinum—can be found on the UnionMarkets website. The Bronze starting account requires a minimum payment of USD $250. Although it might not seem like a lot, but many trustworthy and regulated brokers provide micro accounts with a minimum deposit of just $100 or even less.
Customer Union Markets Reviews
Scam Helpers found that Union Markets got negative customer reviews and ratings on all other sites, and also got low trust scores among users. With this review and after reading all the negative and positive Union Markets reviews, we found that this broker is not regulated and might be a potential scam broker. To avoid these scams, we provide a list of scam brokers 2023 on our website.
How does Union Markets Scam Work?
Scammers use many tricks in order to give you the idea that you are earning money easily and rapidly, fraudsters frequently send you some returns first. They can acquire your trust in this way. To extract as much money as they can from you, they frequently ask you to make more investments or to recruit family members and friends to do the same.
They will suspend or close your account when they believe you are unable to invest any more money in the fraud, and you won’t likely hear from them again. In order to appear trustworthy in the eyes of potential customers, many scam companies falsely state that they are headquartered in a regulated jurisdiction by using fictitious locations and regulation licenses.
How to keep yourself safe from scam brokers?
- Do good research about the broker. Go through reviews and pick a broker with positive reviews. A conventional web search can give experiences into whether negative remarks could simply be a disappointed broker or something more serious.
- Ensure the reviews do not contain anything negative about the broker’s withdrawal process.
- If you are happy with your examination on a specific broker, then trade for a while first, and afterward attempt to make a withdrawal.
- If you face some issues, discuss them with your broker. If it doesn’t go well, file a complaint and share your experience online with everyone.
Is Union Markets broker Legit or a scam: Conclusion
It is clear from the Union Markets review that this broker is not right for trading. We unequivocally encourage all traders and investors to keep away from Union Markets and similar brokers. If you really want to trade online, find a broker who is regulated and has trusted and positive reviews.
Scammed by Union Markets? Scam Helpers can help
If you are a victim of the Union Markets scam, or other scams like the forex scam, cryptocurrency scam, binary scam, etc., file a complaint here to get your funds back. Scam Helpers can process your complaint and help you in fund recovery. We should begin and determine the matter before the harm is considerably greater. Your one step can save you and other people from being cheated by such brokers.
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