- Bringing out the truth
- The potential loopholes related to team and regulatory information
- Fewer assets
- Missing demo account
- Limited perks offered in case of the basic account
- Bonus Withdrawal policy does not suit the traders
Are you excited to go for forex or crypto trading? Well, in that case you must be looking for the best forex or binary broker. If you are planning to go for Ufinancion just because you like the fancy site, then we suggest that you should read our realistic point of view first.
When you have a peep inside the about us page of Ufinancion, then you will realize the fact that the makers only discuss the precision of the platform. You will not find any insight about the team, so when the team information is missing, then it kills the objective of the about us page.
Ufinancion states that they adhere to all regulatory requirements. They have not mentioned any regulatory details on their site.
They claim to be offering more than 100 assets. However, this is not an impressive figure because most other trading platforms offer a huge variety of trading assets.
You will also miss out on the presence of a demo account. When you visit the account opening page, then you will not find an option to open a demo account, and this does put off the trader.
The basic account has limited features. If you critically evaluate things, then this account type needs to have the maximum features because most traders can afford this account type because of the low deposit.
The basic account does not offer risk-free trades. The truth is that novice traders need these risk free trades the most so that they do not have to worry about their losses. Secondly, the daily market reviews are not available for the basic account users.
This is why it can become very difficult for a novice trader to assess the market and place the trade. The basic account users are also oblivious to the risk management strategy. Plus, you get the minimal financial perks with the basic account. For example, you can only get a bonus of about 30% with the basic account.
Now, it seems that the basic account will not serve much of a purpose for the basic account users. If you decide to go for Mini, Standard, Premium, Ultra or VIP account, then they are beyond your budget because of the huge deposit.
The bonus withdrawal policy of Ufinancion is also quite disappointing. As a trader, you need to execute the minimum trading volume to withdraw the bonus. At times it can be challenging for the trader to achieve this trading volume.
After reviewing Ufinancion in detail, we suggest that you should not invest your time and money on this broker. The drawbacks of this broker are surely more than the incentives. We can also state one thing for sure, and that is Ufinancion is specifically not suitable for the new traders who have just stepped into the trading market