Unicorn Brokers:Watch Out The New Tricks-Request Chargebacks & Suspend Account!

Photo: Wikifx

The forex market is currently a mess as illegal forex platforms have mixed up with reliable ones. Investors rushing into the market may find themselves suffering from unnecessary losses. Is Unicorn Brokers under normal regulation? Is it an illegal broker？

“Unicorn Brokers is a scam, and they will take all your profits.”

An investor said he had years of experience in forex trading. In Sep 2020, he opened an account in Unicorn Brokers and deposited $3,000. He began to buy and sell on the platform with every order placed manually. In less than half a month, he more than doubled the balance by his proficient skills.

The investor's account balance was over $7,000 at the time.

“My account had been suspended before I could embrace the profits.”

Half a month later, the investor logged into his account and found it had been suspended without any notification from the platform. He learned from the online customer service that his account needed to be reviewed.

“They claimed for the loss on the server!”

The investor provided information including his passport, bank account, address, and personal photo as required. He had expected his account to recover, but was warned by the platform that “the investor must compensate the platform for the damage to the server caused by the use of EA”! By this account, Unicorn Brokers brazenly took his account balance and suspended his account.

The platform deducted all the balance. “It keeps repackaging the tricks, and now here is a new one.”

Since the investor has obviously placed orders manually, the so-called use of EA is not true. Unicorn Brokers deducted the investor's profits and suspended his account without any explanation, which is clearly the practice of an illegal platform. Other common tricks include delayed withdrawals for various reasons, malicious advice in trading, severe slippage, and so on. Every order was placed manually.

About Unicorn Brokers

On the WikiFX APP, Unicorn Brokers only received a rating of 1.25. It was registered in Canada and is under no regulation now.

Unicorn Brokers only received a rating of 1.25 on the WikiFX APP

Unicorn Brokers software for trading has been identified to be White Label MT4/5 and its server is located in the UK. White label brokers bear low input costs and involve certain risks.

Unicorn Brokers is related to 19 white label platforms, which are: LVMexchange, StreamsFX, TNFX, FXNextGen, SFEX, Ambiance Markets, Forex Bank, ONE FX, ALGO GLOBAL, FxBitCapital, Strke ProFx, EkolFX, EKOLFX, MINDSOFT, Tickcopy, Ekol Global, Granan Trade, AKD FX, AKD Forex. It is notably that 18 of them are under no regulation!

Moreover, the trader's credit report shows its risk index is very high. Please stay away from it!

Reprinted from Wikifx, the copyright all reserved by the original author.