UEZ Markets, established in 2018, is a forex broker that claims to be operating under the regulation of the Australia Securities & Investment Commission. UEZ Markets is a dubious broker that exhibits all the red flags of an insolent scam. In this UEZ Markets review, we aim to elucidate why investing with such a broker is an extremely unwise decision.
They also claim to be a reputable broker that provides an array of trading instruments, encompassing Forex, Metals, Energies, Crypto, and Indices, all accessible through the MT5 trading platform. But the reality is different from their claims.
Website – https://uezmarkets.com/
Website Availability – No
Address – NA
Warning – Not recommended by review website like Scam Bitcoin
Regulated – Unregulated
Domain Age –
|Date Registered||December 04, 2020|
|Domain Age||2 years, 7 months, 21 days, 3 hours, 10 minutes, 45 seconds|
Is UEZ Markets legit or a scam broker?
UEZ Markets asserted its affiliation as a Cayman Islands-regulated branch of a licensed Australian broker. However, upon conducting a thorough investigation and checking the register of the local regulator CIMA, it became apparent that the broker’s claim was false – they were not licensed in the Cayman Islands. This raises serious concerns about the broker’s credibility, especially considering that obtaining a license in the Cayman Islands merely requires maintaining a minimum capital of $120,000, a relatively small amount.
In our efforts to verify their legitimacy, we also checked the register of the Australian regulator ASIC, where we did find a company registered under the name UEZ Markets. However, due to the regulator’s lack of detailed company information, it remains uncertain whether this registered company is the same entity behind UEZ Markets. This ambiguity further adds to the skepticism surrounding the broker’s claims and authenticity.
UEZ Markets Review: Trading Assets
UEZ Markets claims to offer access to a reasonable selection of markets, including Forex, Metals, Energies, Crypto, and Indices.
However, it’s worth noting that numerous legitimate brokers provide access to thousands of instruments, making it more advantageous to work with these reputable options. Dealing with potential scammers may not only expose you to risks but could also lead to issues with non-functional software and unreliable services. It’s best to choose brokers with established track records and comprehensive offerings to ensure a more secure and satisfying trading experience.
Deposit and Withdrawal methods
UEZ Markets entices investors with a remarkably low minimum deposit requirement of just $10. While this may appear highly affordable at first glance, it is crucial to exercise caution before investing with such shady brokers, as there is a risk they might abscond with whatever funds you deposit.
Opting to work with reputable companies that offer affordable account options would undoubtedly be a wiser decision. In their Terms and Conditions, UEZ Markets mentions wire transfer and various unspecified e-wallets as potential deposit options. However, it is essential to note that we cannot guarantee the accuracy of this information, further emphasizing the need for prudence when dealing with this broker.
UEZ Markets Review: Trading Conditions
On their website, UEZ Markets makes enticing promises of tight spreads, such as approximately 1 pip on EURUSD. However, without personally verifying their platform, it is uncertain whether the broker’s spreads would genuinely align with these claims.
Notably, UEZ Markets appears to offer a maximum leverage of 1:200 on Forex majors. This level of leverage is relatively high, especially when compared to the restrictions imposed on brokers in the UK, the EU, and Australia. These regions are not allowed to offer leverage greater than 1:30 to retail traders due to the inherent risks associated with trading at high leverage levels. The rationale behind these limitations is to protect traders from potential substantial losses resulting from the use of excessive leverage.
UEZ Markets Review: Conclusion
UEZ Markets website is filled with complex trading jargon. However, noticeably absent are any specific details regarding the company’s executives or its compensation plan. The reason behind this omission becomes evident when you realize that, despite its claims, UEZ Markets is not actually involved in trading activities.
If you have fallen prey to the UEZ Markets scam or any other fraudulent activity, rest assured that there is a way to find a resolution. You can access our Scam Bitcoin website, where we have a user-friendly complaint form tailored to handle issues with scam brokers. By utilizing this form and submitting your complaint, you will be entitled to a free consultation with our team of experts.
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