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UniversalTrade
Operating status: SCAM
Website: https://universaltrade.io/
Broker violations and abnormal records
On December 8, 2023, the Financial Authority (Autorité des Marchés Financiers, AMF) added UniversalTrade to its warning list for it being an unauthorized company engaging in forex activities in France. https://www.amf-france.org/en/warnings/blacklists?page=0&conditions%5Bcategorie%5D=224
On December 8, 2023, the Financial Authority (Autorité des Marchés Financiers, AMF) added UniversalTrade to its warning list for it being an unauthorized company engaging in forex activities in France. https://www.amf-france.org/en/warnings/blacklists?page=0&conditions%5Bcategorie%5D=224While UniversalTrade attempts to create the impression that it is an ethical, regulated broker, our investigation reveals otherwise.
UniversalTrade conceals details about its operators, listing a UK phone number and a vague address in Switzerland. Assuming it had offices in these two countries, we searched the registers of the Financial Conduct Authority (FCA) and the Swiss Financial Market Supervisory Authority (FINMA), financial regulatory bodies of these two countries. However, we found no records suggesting that UniversalTrade is authorized, a red flag indicating its poor compliance with financial regulations.
Furthermore, the French Financial Authority (Autorité des Marchés Financiers, AMF) has added UniversalTrade to its warning list for engaging in unauthorized forex activities in France. This serves as solid evidence of UniversalTrade's fraudulent nature.
In essence, UniversalTrade is not overseen by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. UniversalTrade is unequivocally a scam.
While UniversalTrade attempts to create the impression that it is an ethical, regulated broker, our investigation reveals otherwise. UniversalTrade conceals details about its operators, listing a UK phone number and a vague address in Switzerland. Assuming it had offices in these two countries, we searched the registers of the Financial Conduct Authority (FCA) and the Swiss Financial Market Supervisory Authority (FINMA), financial regulatory bodies of these two countries. However, we found no records suggesting that UniversalTrade is authorized, a red flag indicating its poor compliance with financial regulations.Furthermore, the French Financial Authority (Autorité des Marchés Financiers, AMF) has added UniversalTrade to its warning list for engaging in unauthorized forex activities in France. This serves as solid evidence of UniversalTrade's fraudulent nature.In essence, UniversalTrade is not overseen by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. UniversalTrade is unequivocally a scam.On April 19, 2024, the Federal Financial Supervisory Authority (BaFin) warned consumers about UniversalTrade and the services it is offering, suspecting the unknown operators of the website universaltrade.io of offering consumers financial and investment services without the required authorization. https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2024/meldung_2024_01_05_UniversalTrade_en.html
On April 19, 2024, the Federal Financial Supervisory Authority (BaFin) warned consumers about UniversalTrade and the services it is offering, suspecting the unknown operators of the website universaltrade.io of offering consumers financial and investment services without the required authorization. https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/unerlaubte/2024/meldung_2024_01_05_UniversalTrade_en.htmlBrokersView found that the domain "universaltrade.io" is currently inaccessible. This is widely regarded as a significant red flag, as the suspension of a broker's website often points to underlying regulatory or operational issues.
BrokersView found that the domain "universaltrade.io" is currently inaccessible. This is widely regarded as a significant red flag, as the suspension of a broker's website often points to underlying regulatory or operational issues.
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