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Scammed by FxUnited Broker?

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Is FxUnited a scam broker?

Overview

At the time of writing this article, we couldn’t access the official website of FXUnited. Hence, we can say that it is not a legitimate broker for sure. If it is an authentic site, even though if the site has some issues, it should have been fixed running as people have invested their hard-earned money in their platform. But we cannot confirm the legitimacy just based on the website issue only. It could have happened due to some maintenance work or any other problem. So, let’s dig deeper to see whether it is a legitimate or a scam broker.

About FXUnited

FXUnited is an unregulated broker and is owned and operated by United Global Holdings Limited. But we cannot verify the whereabouts of this company and any other information. These are some clear indicators that this is not a legitimate broker. Anyway, let’s not conclude it right away and see what it offers to its customers.

Even though there are many unregulated brokers on the market, they still provide you with a functional website along with details about its location, types of account offered. But, since we cannot access the official website, we cannot conclude quickly. But it is our duty to inform our users whether it is truly a scam broker, and hence we dug deeper and found that FXUnited shut down its operations by 2017 and is no longer active. But you never know what will happen in the future, as they could spring to action, suddenly making their website live again and lure customers to invest in their platform.

According to data collected from the internet from other reputed websites, it seems that FXUnited offered its customers with two different account types, including:

  • Standard      –         $25 (minimum deposit)
  • Premium      –         $25 (minimum deposit)

The maximum leverage offered to its customers was around 1:200, and the minimum trade size is 0.01. The broker also seemed to have provided its customers with an MT4 trading platform.

Is FXUnited Legit or Scam

We would like to conclude that FXUnited is indeed a scam broker, and we recommend people to stay away from these unregulated brokers. If you are looking to make some money through trading stocks, indices or commodities, better opt for a licensed and regulated broker. Also, make sure to go through the website and their offerings and only after you get convinced that it is legitimate, you can invest your money on the platform. Safe trading!!!