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3 ways to Tell If Union trade is a Scam or a Legit Broker
If you are reading this review, the main question you are probably asking is whether Union trade is a fraudulent broker or a legitimate broker. Unfortunately, many online brokers are absolute frauds. Others are well-regulated and dependable. Many, however, fall into a grey area. They may be regulated, but not from a top-tier regulator. They may offer a state-of-the-art trading platform, but they charge hefty fees or have lots of bad reviews.
Is Union trade a Scam or a Legitimate Broker? Find Out
At https://btc-scam.com , we make it our business to investigate online brokers and help guide consumers towards choosing investment services that are beneficial for them. Our team of experts are familiar with every aspect of the financial industry and have extensive experience collecting information and helping clients create claims against problematic brokers.
We have looked into Union trade and want to ensure you enter into the trading process well-informed. You should know what differentiates a fraudulent broker from a real broker long before you sign a contract or part with any money.
1. Is Union trade Regulated?
The first thing you should look for is the broker’s license. If the broker does not have any license, do not work with the broker. Not having any kind of license is an admission that the broker does not want any oversight from financial regulators. There is no reason an honest broker should be worried about filing papers to a regulator or undergoing periodic inspections.
Not all licenses are the same. After all, the license is only as good as the regulator that issues it. If you look at ’s license, you may see that it is from the UK, Cyprus, Australia or another country. What sets apart these licenses and determines their grade are the following:
A top tier broker will investigate applicants thoroughly, and in some cases, will give them a test. They will inspect the broker regularly and expect a high market capitalization to protect clients. They will have a proven record of taking disciplinary measures against recalcitrant brokers and suspending or revoking licenses if necessary.
Licenses are important because they protect customers and mean that the client will have recourse to a regulatory agency if they have a complaint with their broker. It is worth looking into ’s license carefully before trading with them.
2. Is Union trade Direct About Accounts and Fees?
One of the most obvious signs of an untrustworthy broker is one that is not transparent about account requirements and fees but seems to change these at will according to the circumstances. An honest broker will always outline fees and commissions clearly on the website and not leave it for the fine print at the end of the contract.
Some brokers don’t even let this important information linger at the bottom of a wordy contract, but won’t have certain fees printed at all. A fraudulent broker will claim there is some obscure fee, for example, every time a client wants to withdraw money. Many legitimate brokers do not charge fees for withdrawal, and if so, they are quite low.
It should arouse suspicion if you ask to withdraw funds and suddenly the broker asks for a large withdrawal fee or a special tax no one has heard of. He or she might claim they are owed higher management fees than those originally agreed and will say that the management fees increase due to certain circumstances that are not outlined on the site or the contract.
In most cases, it is hard to know from the outset or initial research if a broker engages in these activities or not. If you trade with Union trade and if they have charged you unauthorized fees, contact https://btc-scam.com right away.
3. How Well does Union trade Communicate?
Poor communication and poor service usually go together. It also signals a lack of professionalism. Poor spelling and grammar on website copy and communications are usually signs of second-rate services. Even if the broker is not writing in his or her native language, a broker with a professional attitude would ensure communications are translated properly.
However, poor communication is not always a language issue, but can signal evasiveness or that the broker has something to hide. If you ask a broker a question about their investing philosophy or why they prefer certain assets and they clam up and stop communication, that could be a red flag.
A broker should love what they do and be enthusiastic about sharing their approach to trading. If they instead seem interested only in the bottom line and talk to you only to get you to put more money in the account, they could be shady or at the very least, irresponsible.
A reliable broker should have contact information on the website and should answer your queries. When brokers give clients the silent treatment, that is usually a bad sign. In some cases, a broker could just be busy, but if the communication delay is extended, they may be reluctant to release your funds.
Communication is another aspect that it is hard to judge a broker on unless someone is actively trading with them. Brokers may start very friendly and eager to communicate. Their website may highlight several ways to get a hold of them. However, this can change abruptly once clients send funds to the broker and sign a contract.
If Union trade has suddenly ceased communicating with you or if you are concerned about the nature of the communications, contact https://btc-scam.com right away.
What Legit Brokers Do
So Is Legitimate? See how many of these items you can check off:
If Union trade does all or most of these things, you are probably in a good situation. However, that doesn’t necessarily mean it is 100% above board. Some brokers have professional-looking websites, advanced tools and other features and end up taking client’s money. However, the more of these items you cross off, the better.
What Do Scam Brokers Do?
Is Union trade a scam? On the list of what makes a broker legitimate, it was a question of how many you could check off. However, for the scam checklist, even one of these is a major red flag and is a reason to consider withdrawing your money (if they will let you) and talking to https://btc-scam.com today. If does any of these, it is a bad sign:
Even one of these items would be a reason to have serious issues with and consider not trading with them or to withdraw your money if you have an account. However, many scam brokers make withdrawals impossible. This is wherehttps://btc-scam.com can assist you.
So, Is Union trade a Scam or Legit?
We have looked into Union trade and have found a few issues that require further investigation. It is worth doing due diligence and check if Union trade meets the criteria above. Sometimes it can be hard to know where the broker stands regarding all of the criteria until you have signed up and started an account. That is why it is best to use caution.
One of the best ways to avoid problems with a broker is to only choose those with a Tier 1 license. That way, if there are problems, the regulator is likely to take action, although this process can be slow without an agency like https://btc-scam.com to help you create a case and provide advocacy.
Have You lost Money with Union trade ? Talk to https://btc-scam.com Today!
If you have lost money with Union trade , don’t despair, but consult withhttps://btc-scam.com right away. Our experts have an in-depth understanding of the intricacies of the financial industry and can help you create a claim and investigate the broker.
The authorities and regulators do care about investment scams, but given the multiplicity of these problems, it can be a slow path to seeking restitution without https://btc-scam.com to help speed up the fund recovery process. We have the resources and can provide the support and guidance you need to recover your funds.
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