United Markets Capital sounds like a name you can put your trust in, with several years of experience. That is definitely the image they are trying to obtain. However, it is far from reality. Namely, this trading company is on the blacklists of many reputable and respected regulatory authorities, including the Financial Conduct Authority (FCA) and the Financial Service and Markets Authority (FSMA). These two regulatory bodies are warning the clients to stay away from the broker, listing damaging activities such as scam and fraudulent moves.
As you can conclude from the warning above, FCA is listing the United Markets Capital as a dangerous company that is aiming to scam its clients. The company is attempting to provide trading services in the UK, which is one of the toughest markets in the industry. However, to do so, a trading company would have to have the licencing provided by the FCA. With United Markets Capital, that is not the case. Also, the company is actually based in Bulgaria, which would make it impossible to provide trading services in the UK. Nevertheless, the lack of regulation should be a clear signal of why you should stay away from this company altogether.
Platform and Execution SCORE: 17%
The United Markets Capital trading platform is web-based. This is standard considering that it is not regulated, so they cannot provide the top-notch technology to their clients such as the MT4 platform or even the MT5 platform. This is a shame since the clients are stripped off many opportunities and benefits that these types of platforms provide. On the other hand, with a web-based platform, there is no guarantee of security and safety while trading.
When you first visit the United Markets Capital platform, you will right away notice a clear lack of effort. The outlook of the platform is designed poorly, to say the least. Also, the selection of tradeable assets is also not admirable, with about 50 assets in total. The platform also takes several minutes to load, which is unacceptable, especially in this day and age of the hectic trading environment. And though the page claims that the platform is adjustable to any device, mobile or desktop, it still doesn’t make up for the many downsides we’ve encountered.
In addition, what particularly stands out about this company is the leverage. Namely, the European industry standard comes at 1:30, which this company claims to follow. However, when you dig deeper into the information about the United Markets Capital, you will notice that they promise up to 1:200 leverage to the professional traders. This is simply impossible to achieve, not to mention that it drives such a high risk that you might as well just throw your money out the window rather than attempt trading.
Withdrawal Speed SCORE: 23%
The thing about the United Markets Capital is that they are not upfront and honest about the majority of crucial information for the clients. For example, they don’t even list the general information about the depositing and withdrawal conditions and waiting times on the platform. Rather, there are different conditions for each of the 6 trading account types - Basic, Bronze, Silver, Gold, Platinum and VIP. But that’s not all, since the company does not even list any type of information about the last two, which are the Platinum and the VIP.
As for what we were able to find out based on the platform, the minimum deposit comes at $250 which is not unusual. That amount then turns into a $25.000 requirement for the Gold account. If you’re wondering about the Platinum or the VIP - you will be disappointed to see that there is no clear information about it. Rather, we can only assume that it is much higher than $25.000.
If you still wish to make a deposit and trade with this platform, you can do so by using one of the following options, which are credit and debit cards and Bitcoin. The waiting times are different and they depend on many factors, from the amount of money you wish to withdraw to the bank’s policy in which you’ve opened your account. This, again, is not clearly listed anywhere on their website, so you are left to wonder about the details.
Support and Assistance SCORE: 11%
There is only one way of contacting the United Markets Capital, and that is via e-mail. There is no other option such as a live chat or a telephone number. How certain are you that this is because they obviously want to avoid you asking questions? This is quite a shameful practice, not to mention that it reflects poorly on their image. There is a huge group of clients that decided to take their money elsewhere due to the obvious lack of dedication and acknowledgement from the company.
The e-mail option is the only one available, so we decided to try that out. The response came after 3 days, which is quite a long time to wait. Especially considering that there isn’t any other way to contact them. Overall, this is a pretty disappointing section of the website, and the United Markets Capital should work their way from the bottom to fix it.
Education and Tools SCORE: 49%
For a company that lacks so many important details and guidelines, we were quite surprised to find out that their educational section is done nicely. It has a lot of details and information about the different educational tools and just helpful tips you could use to improve your knowledge of trading. There are different sub-sections on the website, which we will explain in the following passages.
There are handy tutorials and video that you can watch and learn visually about different types of trading on the platform. Also, there are different courses on how to improve your instincts while trading, how to spot a trend and so on. The market news section is considered a must for today’s trading, and United Markets Capital is aware of that. This is why this section is particularly rich and evolved, with regular updated that are being posted. Here you can read all about the latest developments and events on the market and plan your strategy accordingly.