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Union MK

Operating status: SCAM

Website: https://www.unionmkc.com/

Broker violations and abnormal records
  • Nov 13, 2022 BrokersView has Reviewed that Union MK is an Unregulated Forex Broker

    Union MK claims to be a reliable broker while presenting neither details about its regulations. Lacking regulatory information may be a distinct characteristic of unlicensed brokers, as legit brokers always present their certificates and licenses in a prominent position. It is a red flag here.

    Besides, Union MK shows its company address is in Labuan, Malaysia. As per relevant law, the regulatory authority in the Labuan International Business and Financial Center is left to the Labuan Financial Services Authority (LFSA). All IBFC brokers and financial services providers have to be licensed and regulated by the LFSA. 

    We indeed find a company named "Union MK Limited" in LFSA, which has a similar name to this broker. But check further of the company's regulatory details, we found the approved domain of Union MK Limited should be "unionmk.com" instead of the one used by Union MK.

    The truth is, Union MK may be a clone firm that falsely uses the regulatory information of a licensed firm. Union MK is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

    Union MK claims to be a reliable broker while presenting neither details about its regulations. Lacking regulatory information may be a distinct characteristic of unlicensed brokers, as legit brokers always present their certificates and licenses in a prominent position. It is a red flag here.Besides, Union MK shows its company address is in Labuan, Malaysia. As per relevant law, the regulatory authority in the Labuan International Business and Financial Center is left to the Labuan Financial Services Authority (LFSA). All IBFC brokers and financial services providers have to be licensed and regulated by the LFSA. We indeed find a company named "Union MK Limited" in LFSA, which has a similar name to this broker. But check further of the company's regulatory details, we found the approved domain of Union MK Limited should be "unionmk.com" instead of the one used by Union MK.The truth is, Union MK may be a clone firm that falsely uses the regulatory information of a licensed firm. Union MK is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

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