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UniverseMarkets
Rating:
Binary Option Programs Award
Min. Deposit
$250
Min. Investment
$20
Regulated Broker
No

UniverseMarkets Broker Review

  1. UniverseMarkets is an unregulated forex and CFDs broker that is promising great trading experience. In this review, we will try to find out more about UniverseMarkets, especially about features, customer support, trading software, and banking methods, commissions and fees as these are the most important things for every trader.

    UniverseMarkets is owned by WhiteSquare Trading LTD, and claims to be located in London, United Kingdom.

    UniverseMarkets can be very interesting for traders from South Africa, as it promises simple and straightforward trading on a platform that is easy to use. But is it really so, or should traders think twice before making a deposit?

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    UniverseMarkets Account Features

    UniverseMarkets review found out how this broker doesn’t have specific account types or plans for different types of trader who deposit different amounts of money. Whether you deposit $250 or $2500, you get the same features, customer support, and trading benefits. This democratic approach may be welcomed by smaller traders who deposit less, but those who have more money at their disposal won’t be so happy about it. Such experienced traders appreciate when a broker puts some effort into giving them some extra perks and benefits. While doing this review, we haven’t found any specific competitions or limited time offers reserved only for traders who deposit more.

    Banking limits with this broker are:

    • Minimum deposit: $250
    • Minimum withdrawal $100
    • Bank wire maximum deposit: unlimited
    • Credit card maximum deposit: $5,000
    • E-wallets maximum deposit: depends on the wallet
    • Western union maximum deposit: $10,000

    Tip: Consider IQ Option instead – the best regulated broker for South African traders with a minimum deposit of only $10!

    UniverseMarkets Demo Account

    UniverseMarkets has no demo account. This will be bad news for traders who prefer to check out the platform without making a deposit. Nowadays, traders are used to placing a few trades with virtual money, before trading for real. Even though many brokers believe how demos attract only beginners, even advanced traders like to check out how trades are placed, what tools they have at their disposal and how to use specific features.

     

    A good demo account can be the ultimate learning tool that help trader get used to the interface before real trading takes place.

    Adding a demo account would make UniverseMarkets more attractive than competitors. We hope they will think about adding one in the future.

    UniverseMarkets Trading Platform

    UniverseMarkets trading platform was developed in-house. This means that it is custom-made to suit this broker. It is a web-based platform. UniverseMarkets platform doesn’t require download and can be easily used directly in the web browser of your choice. This also means that your trading will not be limited to one device, as you can access the trading interface from anywhere, as long as you have a good internet connection.

    Even though UniverseMarkets is not offering a free demo, you can check out the platform directly from the Homepage. Just click “Trading” and you will enter the trading interface. The design of the interface is fairly dark so it may not be suitable for people with vision impairment.

    On the left side, you will find an asset search bar, as well as an asset list. This broker offers cryptos, currency pairs, indices, stocks and some commodities (platinum, silver, oil). In the middle of the interface, you will find a chart that shows price movements in certain timeframes. On the right side, you will find all the elements you need to activate for placing a trade. Type the amount you want to trade, select an asset, decide the direction of the price movement and use leverage if you like. You can also use stop loss and take profit features.

    UniverseMarkets Mobile App

    UniverseMarkets doesn’t offer an app for mobile trading. However, you can always trade from your mobile browser, even though it can be a bit inconvenient having to type in your username and password every time you want to trade. If UniverseMarkets had an app, you would’ve been able to trade simply by tapping the app once. Mobile apps make trading faster, and help traders truly place trades when on the go, as being logged in the trading interface in a web browser is not an option due to security reasons.

     

    UniverseMarkets Customer Support

    UniverseMarkets can be reached only via email, an online form, and phone. Unfortunately, there is no live chat that traders are used to. This is really surprising, as it means that traders will have to wait for several days in order to get their response, and sometimes they need answers right away. There are also several phone numbers available, but there is no local number for South Africa. This means that UniverseMarkest traders in South Africa will have to count on expensive phone calls when they need assistance right away.

    UniverseMarkets has no education section that could help traders find out more about the process of trading. They can only use FAQ section that offers some short basic answers related exclusively to trading with this broker.

    UniverseMarkets Deposit and Withdrawal

    UniverseMarkets has deposit and withdrawal limits very similar to other brokers in the industry. The minimum deposit is $250, and the minimum withdrawal is $100. Deposits can be done via credit card (Visa, Delta, MasterCard, Diners, Visa Electron, Maestro, Maestro UK (Switch) and Solo, wire transfer, e-wallet (over 20 methods). Every withdrawal via bank wire is charged with a $25 fee. Also, you always have to count on certain fees that may be applied by your credit card company or e-wallet company.

    Traders have to be aware of the fact that this broker has some specific withdrawal terms and conditions. For example, you won’t be able to make a withdrawal one month after depositing. Also, before withdrawal, you have to reach a turnover that is equal to the number of deposits. Unfortunately, this means that the broker will prevent you from withdrawing for as long as possible. Also, withdrawals are processed within 7 days, and they ask you to give them up to 7 days for a transaction to be completed.

    UniverseMarkets Bonus Terms

    UniverseMarkets offers bonus that goes up to 100%. Bear in mind this is not free money. Traders who accept the trading bonus must reach x300 turnover before making a withdrawal. This may put traders in an unfavorable position. Before accepting a bonus, make sure to understand all terms and conditions related to it.

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    UniverseMarkets Pros and Cons

    Pros:

    • User-friendly platform

    Cons:

    • high fees
    • bonus terms and conditions
    • no live chat

     

     

UniverseMarkets articles