UFOS is a forex and CFD broker that claims to offer a wide range of trading services to clients around the world. However, there are a number of red flags that suggest that UFOS is a scam broker.
In this review, we will take a closer look at UFOS scam and explain why we believe it is a scam. We will also provide some tips on how to avoid getting scammed by unlicensed brokers.
Company Overview
UFOS’s website is poorly designed and contains a number of grammatical errors. There is no information about their company details, origin, goals, and other details. They only mention some generic texts and images.
Team
There is no information about the management team of UFOS on the company’s website. This is a red flag, as legitimate brokers should always disclose the names of their senior management team.
Services and Products
UFOS claims to offer a wide range of trading services, including forex, CFDs, and options. However, there is no way to verify this claim, as the company does not have a demo account or a live trading platform.
UFOS also claims to offer a variety of educational resources, but these resources are not available on the company’s website.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
License and Regulations of UFOS Scam Broker
License Status
UFOS is not licensed by any financial regulator. As we mentioned before, they did not provide any information about their license or authorization.
Regulation Status
UFOS is not regulated by any financial regulator. Their unregulatory status makes them vulnerable to trust and make any investment with them.
Why Dealing With An Unlicensed Broker Is Risky?
There are a number of reasons why it is risky to deal with an unlicensed broker. Here are a few of the most important reasons:
- Unlicensed brokers are more likely to engage in fraudulent activities, such as mishandling client funds or refusing to allow withdrawals.
- Unlicensed brokers are not subject to any oversight, which means that there is no one to hold them accountable if they do something wrong.
- It is difficult to get your money back from an unlicensed broker if you are scammed.
Legal Warning Against UFOS Scam
The Financial Conduct Authority (FCA) in the UK has issued a warning against UFOS, stating that the company is not authorized to provide financial services in the UK. The FCA has also warned that UFOS may be a scam.
Client Feedback
Feedback About Their Trading
There is no way to verify the trading claims of UFOS, as the company does not have a demo account or a live trading platform. However, there are a number of negative reviews about the company’s trading platform online. Some clients have complained that the platform is slow and unreliable. Others have said that they have been unable to make any profits using the platform.
Feedback About Their Customer Service
The customer service of UFOS is also a major problem. Clients have complained that they have been unable to get in touch with customer service representatives. Others have said that customer service representatives are rude and unhelpful.
How Can Reviews Advice Help You If You Get Scammed?
If you get scammed by this broker, you can contact us. Before that, you should inform your local authority and law enforcement agency about this incident. When you will contact us, we will evaluate your case and will provide you with a free consultation. In this consultation, you will get three things: recovery service recommendations, educational resources, and legal help (if needed).
Final Thought
Choosing a trusted broker is important for your investment security. Don’t fall for any scam broker such as UFOS. Stay away from this broker and research more.
