Britain’s Financial Conduct Authority (FCA) has added Universe Markets Fx to its list of binary options firms that are operating in the United Kingdom without a required license.
Universemarkets is a CFD and forex broker owned by White Square Trading Limited, located at 131-151 Great Titchfield Street, London, W1W 5BB, United Kingdom. Its phone numbers are: +44 203 3322935 in the UK, +64-48879500 in New Zealand, +61-388070902 in Australia, +47-21999142 in Norway, and +43-13469999044 in Austria. Its email address is firstname.lastname@example.org.
The website is available in English, German and Spanish versions.
Universe Markets Fx employs a custom-made trading platform.
The site provides investors with a simple and basic cryptocurrency, forex and CFD trading platform. Underlying assets are mostly currency pairs and a new bitcoin/cryptocurrency pairing. The returns offered on the bitcoin option are 50% up or down.
Three types of options are available:
- Long Term Options
Each client’s funds are held in a segregated account. Funds are used only for trading options over the website upon a client’s instructions and are never used for any other purpose. The company claims its liabilities and exposures are professionally handled and that they guarantee payouts of profits based on its terms.
Deposits may be paid using Visa, Delta, MasterCard, Diners, Visa Electron, Maestro, Maestro UK (Switch) credit cards, Solo debit cards, as well as more than 20 digital alternatives. Wire transfers are also accepted.
Clients who decide to apply for a refund must apply to do so, but no application form is available online. Note that the approval or rejection of your application “shall be at the sole discretion of the company.” The customer support team may take up to 48 hours to respond to any such request.
The company provides bonuses to new clients, but you must exercise caution when accepting them. According to the Terms and Conditions page, you will need to trade a volume of 30 times the bonus in order to withdraw your money.
The Terms and Conditions page, moreover, states that “Universemarkets reserves the right in its sole discretion, to refuse or cancel services, and/or refuse to distribute profits to any person for legitimate reasons, including, without limitation” if any one or more of the following conditions apply:
- If Universemarkets has reason to believe that a person’s activities on the site may be illegal
- If Universemarkets may be harmed by any fiscal or pecuniary damage due to anyone’s activities
- If Universemarkets consider that one or more operations on the site were made in violation of this agreement
Therefore, if you reside in a country that bans the types of online trading offered by Universemarkets you will not be entitled to any remuneration. If your withdrawal could compromise Universemarket’s financial viability, the company reserves for itself a similar right to deny you remuneration. And if Universemarket deems that anything you did was in violation of your agreement, it will also deny you remuneration.
In addition, you may open yourself to other claims against you. The Terms and Conditions page specifies the following:
You agree to defend and indemnify our company and its officers, directors, employees, and agents and to hold them harmless from and against any and all claims, liabilities, damages, losses, and expenses, including without limitation reasonable attorney’s fees and costs, arising out of/or in any way connected with your access to/or use of the site or services; your violation of any of the terms in this agreement; or your breach of any applicable laws or regulations.
Universemarkets posts an extensive FAQ section on its website and a trading graph. Articles, a glossary and market analysis are listed on the website menu but were unavailable at the time we visited.
Traders can contact Universemarkets by email or phone or leave a message on its website. There is no live chat or Skype connectivity.
Universemarkets is not a licensed broker.