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UBK Markets review

UBK Markets


On-line since: 2011
Country of origin: Cyprus
Regulation: CySEC
Payment options: bank transfer, credit cards, electronic payment systems
Minimum account size: $25
Minimum lot size: 0.0001 lot
Leverage: up to 1:30
Spreads: variable from 0 pip

About the company:

UBK Markets is a broker offering Forex and social trading services to its clients.

Company`s history

According to the website of UBK Markets, the brand was founded in 2011. At the same time, the company's history goes back to 2002, when the company began to conduct research and experiments which formed the overall development strategy of Simcord.

Simcord provided capital management services, and in order to expand its portfolio of activities, the company’s management decided to create an international brokerage company, UBK Markets.

Security of funds

As of today, UBK Markets is owned by UBK Markets LTD which operates under the license of the Cyprus Securities and Exchange Commission (CySEC). This gives access to the whole European single market. The broker can provide its services in any EU member state. More importantly, the licensing authority guarantees the security of investments in cases of the broker's bankruptcy or insolvency.

Trading conditions

UBK Markets offers its customers to trade on the following accounts: Classic, iPA-Manager, and iPA-Investor. The broker uses the ECN technology, dealing directly with the liquidity providers: Hotspot FX, Integral, FXCM, Currenex, and others.

Minimum deposit

The minimum deposit for the Classic account is $25. This amount allows almost every customer to start trading. Such a deposit is particularly beneficial to beginners who can try their hand using a small amount.

Spreads and commissions

UBK Markets claims to provide variable spreads, while the lowest possible spread is 0 pip. The broker does not specify spreads on assets. However, the company gives information on commission, $9 per trading lot, which means that the broker's spread starts with 0.9 pip.

Leverage

The company offers its customers to use the leverage of up to 1:30. That will be enough for most traders but not for professionals who often trade with the leverage of up to 1:500 working with other companies.

Nonetheless, a worldwide trend can be observed that with a view to protecting investors, regulators oblige brokers to reduce the size of the proposed leverage to 1:50.

Trading platforms

The iPro Marketplace platform is the UBK Markets’ own development.

There is a similarity between this platform and the well-known MetaTrader4. However, it is a completely different product. iPro Marketplace contains an investment module, methods for big data analysis, and economic data.

The platform is perfect for both beginners and professionals. iPro Marketplace has its mobile version available only for Android.

Significant services

UBK Markets offers its own system of social trading/iPA.

The key feature of the iPA technology embedded in the system is the quality assessment of a trading signal. It is estimated on a number of quality indices that meet the standards of efficient trading: signal reliability, possible profitability, and others.

The company claims that this technology is a revolutionary invention. In fact, there are similar offers in the market. All transactions must be closed at the end of the trading session on Friday. This limits the risks but makes the service unattractive for long-term traders and investors.

Support service

Interestingly, it took a while to find any information on the ways to contact the customer service. The broker offers to read the Frequently Asked Questions section or schedule a callback. It is possible to contact a manager only after registration. But contact details must be disclosed to everyone.

Unfortunately, a client cannot call or write an email and is forced to wait for a callback.

The website is available in Russian and English.

Payment options

UBK Markets offers the following methods of depositing and withdrawing funds: bank transfer, the WebMoney credit card, Skrill, and OKPay.

Feedback from traders

We have found few reviews from the traders of UBK Markets who have complaints about withdrawing.

The main advantage of trading with this broker is its legal status. The company is controlled by the Cyprus Securities and Exchange Commission, the regulatory

authority, which exercises strict and active oversight over the organizations' activities.

Advantages:

  • regulated broker;
  • low deposit;
  • social trading.

Disadvantages:

  • low leverage;
  • spreads not indicated;
  • no support phone numbers indicated.

UBK Markets 1/10 (votes 2240)
Author of UBK Markets: Reeyah | Date 2022-05-12
I say the UBK Markets’s platform is one of the best platforms in the market. As their MT4 platform's order execution is fast with a fixed spread. Also, their analysis and payment service are impressive. I got a super service from UBK Markets, which helps me to make a $380 profit in the market.
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Author of UBK Markets: Sebastian | Date 2022-04-12
UBK Markets is the worst broker I have ever tried, and sadly, I have to close my account because of too many technical and connection problems. I have experienced a disconnectivity. When I enter my trade, the platform gets disconnected, and I lose every time. Even though I sent them proof several times, they won't return the money you lost on that trade. I also experienced a huge spike, and my profitable deal got stop out. So, I am looking for another broker.
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Author of UBK Markets: Vitgea | Date 2021-04-06
UBK Markets broker take care their customers and offer services according to customer’s requirements. Their iPro Marketplace platform is tremendous, able to access every feature including advanced charting options with my tablet and mobile, so trading on the move is for genuine. Very cooperative staff always quickly replies to my emails. I made profit and have easily withdrawn profit through WebMoney.
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Author of UBK Markets: RoseFX | Date 2021-03-24
I don't find any satisfaction when I trade with UBK Markets. They have the worst order executions in the market. Also, their platform is unstable and crashed most of the time. It's really hard to trade with them since their client support always busy and hard to reach. I got loss in a single trade with a significant amount because of their shaky platform and delayed executions. Until now, I can't recover all my losses, and I have to stop trading with them. So, I close my account at this broker and will never trust them anymore.
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Author of UBK Markets: Mingai | Date 2021-01-28
I started an account at UBK Markets because their representatives assured me that I will be guided by an account manager. So even though I have no prior experience, I did not worry. But then, I was not really assisted that much. My account manager would rarely speak with me and I did not receive much help.
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