Since UnicoFXs official website (https://www.unicofx.com/) is temporarily down at the moment, we could only piece together this brokerage house by gathering some relevant information from other websites.
General Information
UnicoFX is a forex broker registered in Australia, with an operation time of less than one year.
In terms of regulatory information, UnicoFXs regulatory status is displayed as “Suspected Fake Clone” on the WikiFX website. It has been verified that this forex broker is not regulated or authorized by any regulatory authorities and it got a pretty low score of 1.08/10 on WikiFX. Please be aware of the risk.
Account Types
UnicoFX says it offers a total of four trading accounts for clients to choose from, namely Standard Account, Silver Account, Gold Account, and Platinum Account. These four trading accounts are classified in light of their initial deposit requirements. To trade with UnicoFX is a money-consuming activity, for even its most basic account, the Standard account, traders need to inject an absurdly high initial deposit of €1000, which is too much for most regular traders to afford.
UnicoFXs most expensive trading account, the Platinum account, even requires a minimum initial deposit of €100000, which sounds quite ridiculous.
Leverage
Trading leverage varies depending on different trading accounts, ranging from 1:25 to 1:200. Although many forex traders (especially professional traders and scalpers) consider leverage as an amazing tool to increase their profits, leverage can also cause significant fund losses, especially to inexperienced traders. Therefore, they need to choose the proper amount that they feel most at ease with.
Trading Platform
Please note that UnicoFX offers non MT4/MT5 trading platform.
Customer Support
UnicoFX offers poor customer support, for traders can only get in touch with this broker through an email: contact@unicofx.com.
Company address: OAKLEIGH SOUTH VIC 3167, MELBOURNE AUSTRALIA.
Risk Warning
Online trading in leveraged Forex and CFD instruments contains a high level of risk and may not be suitable for all investors.
Please note that the information contained in this article is for general information purposes only.
