Units Capital – Don’t Fall for the Claims

Units Capital

Opening a trading account with an online broker is the first step you take when you begin your trading career. While there may be an abundance of brokerages in the market, this does not mean that they are not important in this process. As a matter of fact, you will come to realize that they play one of the biggest roles in your success as a whole, as they are responsible for providing you the software that gives you access and also create the environment and the conditions that apply. They can help you enjoy success, or as this Units Capital review shows, can also contribute to your failure.

It is understood that you want them to do the former and not the latter. No one wants to see the money they have invested go to waste, which is what happens when you do not have a good brokerage to support you. In fact, it is not just about a company being good; they also need to be legitimate. Yes, that’s right; you will come to know that the online trading space is overflowing with fraudulent and bogus companies that have the sole purpose of conning people out of their money.

All you have to do is Google and you will find numerous stories of people who had no idea about such platforms and had to pay a heavy price for it. You do not want to become yet another number in this long list, which means the choice of a brokerage should be made with the utmost caution. If you do some research, you will come to know that most people are trapped by these scammers via the big claims and promises they make. You need to understand that these criminals know just how to tell a story and can lure you in with the best offerings.

It is your responsibility to be cautious and verify everything a company says before you believe it. This can pay off because you will be able to distinguish legitimate brokerages from genuine ones. It is very beneficial in the case of Units Capital, a brokerage that claims to be regulated in the UK and presents itself as the best choice for beginners and advanced traders alike. It claims to be offering unique CFD and crypto trading services and this sounds very appealing.

But, these are all claims and when you try and verify them, you will discover that Units Capital is not what it appears to be. How are their claims false? Let’s find out:

False regulation claims

First and foremost, the regulation of a brokerage is crucial because it adds a layer of security that you cannot find with unregulated companies. The former answer to an objective, third-party authority and has to comply with a number of rules and laws and can also be held accountable in case of a problem. Therefore, you will find that most scam brokerages are unregulated and do not have a license to offer their services. But, this does not stop them from making false claims of regulation, as Units Capital seems to have done.

According to the claims made by Units Capital, the broker is licensed and authorized by the Financial Conduct Authority (FCA), which is the regulatory body for the United Kingdom. As a matter of fact, you will discover that the brokerage has also presented you with a fake license certificate on their website. However, a check of the online register of the FCA shows that this is nothing but a false claim because there is no company listed by the name of Units Capital Ltd.

This means that Units Capital is clearly lying about its regulatory status to fool people. It is not possible for it to be regulated in the UK because it is breaking the FCA’s rules regarding crypto CFDs as well as leverage. Moreover, you will also come to know that the brokerage appears to be virtually anonymous because there is no such information available on their website. There is only an obscure phone number and email address given, but there is no physical address mentioned, or any other corporate background.

Lack of a good trading platform

One of the most vital features that an online broker offers to its clients is a trading platform. This is the software to be used for trade execution and you certainly want to have a good one that allows you to execute your trades easily and make the most of your trading. But, this is not something Units Capital is capable of offering. When you take a look at their trading platform, you will find a funny-looking web based solution available.

Considering the advanced technology and the horde of trading tools and features that award-winning and top trading platforms like the MT4 and MT5 offer, the web-based platform at Units Capital does not amount to much. It is a very basic and oversimplified platform that seems to be lacking in a number of features and tools, which has become quite common amongst scam operators.

Excessive leverage

The fact that the leverage ratios offered at Units Capital can go as high as 1:500 should not be seen as an advantage. Many people would want to consider it so because leverage gives you flexibility and more room for trading. But, you have to bear in mind that this is further confirmation about the lack of regulation of Units Capital.

It claims to be regulated by the FCA in the UK, but the regulatory authority has imposed a cap on the leverage that can be offered to retail traders. This stands at 1:30, which is very small as compared to the 1:500 leverage that Units Capital is offering to its clients.

Unreliable payment method

You will not find a payment method specified at Units Capital, but when you try to make a deposit, they will transfer you to an obscure website by the name of abncbp.com. This is yet another common practice of scams and should prompt you to stay away from this platform.

Ending Thoughts

These are reasons enough for anyone to stay far away from Units Capital when it comes to opening a trading account.