Independent rating of Forex broker UBK Markets

About company

UBK Markets is a company that offers brokerage and social trading services. It was founded in 2011. At the same time, the company's history goes back to 2002 when it began to develop the strategy of Simcord based on market research and experiments. Simcord provided capital management services. Later, the company’s management decided to create an international brokerage company, UBK Markets. Today, UBK Markets belongs to UBK Markets LTD which operates under the license of the Cyprus Securities and Exchange Commission (CySEC). Thanks to the CySEC license, the company’s clients can access the single European market, while the broker can provide its services in any of the 27 EU members. More importantly, CySEC guarantees the security of clients’ funds in case the broker becomes bankrupt.

Trading conditions

Trading conditions

• Classic
• iPA-Manager
• iPA-Investor

UBK Markets uses the ECN technology, dealing directly with liquidity providers such as Hotspot FX, Integral, FXCM, and Currenex.

The minimum deposit is just $25 which is especially good for beginners. The spreads are floating and start from 0 pip. UBK Markets does not specify the spreads for particular assets. However, many clients mention the $9 commission per trading lot, which means that the broker's spread starts with 0.9 pip.

The leverage is up to 1:30. This may be enough for beginning traders. However, professionals are more used to trading with the leverage of up to 1:500 when working with other companies.

Trading platform

UBK Markets offers its clients to trade on the iPro Marketplace trading platform which is quite similar to the well-known MetaTrader4. At the same time, iPro Marketplace has its own distinctive features such as an investment module, economic data, and big data analysis. iPro Marketplace is perfect for both novice and professional traders. Its mobile version is available only for Android.  UBK Markets customers can use the following payment methods: wire transfers, the WebMoney credit card, Skrill, and OKPay. UBK Markets offers its own system of social trading, or signal tracking, which is called iPA. The key feature of the iPA technology is the quality assessment of a trading signal, that is, its reliability, possible profitability, and others.

Support service

It turned out to be quite difficult to contact the customer service team. Clients can find the contact number only in the Frequently Asked Questions section, or they can order a callback. Managers will contact you only after the registration form is filled out. The company’s official website is available in Russian and English.

Traders’ reviews

Traders mainly complain about difficulties with funds withdrawals. However, such complaints are rare.

Pros and cons

The main advantage of trading with this broker is its legal status. UBK Markets is regulated by CySEC, the regulatory authority with strict and active oversight over the organizations' activities. Besides, a low initial deposit and the function of social trading make the broker even more attractive for traders.

On the other hand, low leverage and the lack of information about spreads are the main disadvantages of the company. In addition, no phone number of customer support is indicated on the website which significantly undermines the company’s credibility.