- UBanker is a broker that offers CFDs and Bitcoin trading opportunities.
- The first impression of their website is not good, it smells really fishy here. I would not deposit my money with this broker.
- UBanker is an unregulated broker, we always advise against using unregulated brokers. Here you can find the best regulated CFD-Brokers.
- The minimum deposit is 200 USD/EUR, no information on spreads available and leverage of 1:200
Find the best trading platform. You capital is at risk when trading. Be careful.
UBanker is an unregulated broker that lets you trade CFDs and Bitcoin, they do not make a very serious impression when you look at their website and platform. The company behind Ubanker is Green Pole LTD and they are based in Vanuatu, they also claim to be licensed by the Vanuatu financial commission. This regulation can be more or less ignored as it is not very credible. Any credible broker would be registered by CySEC, FCA or similar authority.
UBanker offers no demo account and we are not going to create a real account with them, just to test their platform out. That is simply too risky. This review will be based on user reviews and our impressions of the UBanker platform.
- Founded 2017 by Green Pole LTD.
- Offers a 1:200 leverage.
- Offers CFD trading and cryptocurrencies.
- No demo account.
- Minimum deposit 250 USD/EUR.
- EU clients accepted, US Clients not accepted.
- Offers no bonus.
We have no definite proof that Ubanker is a scam, however, most of the voices on forums and social media agree, Ubanker is not a safe option for traders. If you are looking to trade you can use much safer options like IG Markets or IQ Option.
Also, Ubanker is operating with no license, or a weak license if you are to believe themselves. However, as far as we are concerned, their current license is not to be trusted. Always look for FCA or CySEC regulated brokers. They provide much safer alternatives for traders.
We have been getting complaints and reports about Ubanker too, and our final recommendation is to avoid this broker.
Editors note on Ubanker
If something seems to good to be true then it usually is, this is the case with Ubanker and their marketing towards us regular mortals trading like bankers. I think this broker smells fishy and I would never deposit my money with Ubanker.
Is UBanker A Scam? Is UBanker Regulated?
Despite trying to indicate otherwise, UBanker is not regulated. It is owned by Green Pole Ltd registered and governed in Vanuatu, an island in the South Pacific. They dare not get CySec regulated; the Cyprus Securities and Exchange Commission is the most significant regulatory body for traders and as a member of the EEU members have to comply with European financial regulations. Is this a UBanker scam or does it take advantage of the inexperienced? Well as it targets are the uninformed and beginners it is sensible to ask that question. As the industry tightens up its regulations, some CFD brokers are hiding behind misinformation and misdirection; this is one such platform. Their payment processor is Rehoboth, registered in Cyprus but does not appear on Google searches. The contact number is a South African one yet the company is not listed with the FSB South Africa. If you decide to risk your money on this unregistered platform, do not be tempted to take a bonus. Why? Check the small print, to withdraw from your account requires 5000 times your deposit plus bonus amount in trading volume; taking your investment to well over $200!
Alternatives To UBanker
There are regulated alternative platforms that are safe to invest your money into check out Markets.com Review and explore some regulated alternatives like AvaTrade. This is a well recognised Forex Trader platform regulated in the EU, BVI, Australia, Japan and South Africa, certainly, a better option to consider than UBanker. Another excellent platform is FXTM that started out in 2011 offering quality Forex Trading and is now one of the top trading platforms for experienced and beginners alike. You can also find they are named as one of the best CFD brokers and have added commodities, indices, and stocks to their selection.