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operations by 2017 and is no longer active.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!!!