Score
UAG
United Arab Emirates|5-10 years| https://uagtrade.com/
Website
Rating Index
Influence
Influence
D
Influence index NO.1
Thailand 2.59Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
1M*ADSL
- This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
Basic information
United Arab Emirates
Scam Brokers 5-10 years Suspicious Regulatory License Suspicious Scope of Business High potential riskAccount Information
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Total Margin Trend
| VPS Region | User | Products | Closing time |
|---|---|---|---|
 Singapore | 355*** | XAUUSD.std | 04-26 19:24:16 |
 Seoul | 285*** | XAUUSD.std | 04-26 19:36:45 |
 Taipei | 115*** | XAUUSD.std | 04-26 19:24:28 |
Stop Out
1.18%
Stop Out Symbol Distribution
6 months
Website
Most visited countries/areas
Malaysia
uagtrade.cn
Server Location
United States
Website Domain Name
uagtrade.cn
Server IP
104.26.15.180
-
uagtrade.com
Server Location
United States
Most visited countries/areas
Website Domain Name
uagtrade.com
Website
WHOIS.NAMECHEAP.COM
Company
NAMECHEAP INC.
Domain Effective Date
2016-04-09
Server IP
104.26.7.195
Company Summary
| Aspect | Information |
| Registered Country/Area | United Arab Emirates |
| Founded year | 2-5 years |
| Company Name | UAG Network Ltd |
| Regulation | Suspicious Regulatory License |
| Minimum Deposit | $100 for Standard Account, $500 for ECN Account |
| Maximum Leverage | 1:200 |
| Spreads | Standard Account: Starting from 1.6 pips |
| Trading Platforms | MetaTrader 4 (MT4), UAGTrade APP |
| Tradable assets | Forex, Precious Metals, Energies, Index CFDs |
| Account Types | Standard Account, ECN Account |
| Demo Account | Information not provided |
| Islamic Account | Available |
| Customer Support | Email: support@uagtrade.com, assist@uagtrade.com |
| Payment Methods | Direct Bank Transfer, PayPal, Bitcoin Wallet |
| Educational Tools | News & Analytic Centre |
General Information
UAG, also known as Universal Asset Group, is an unregulated broker operating in the United Arab Emirates. However, it has been flagged as a scam broker by WikiFX due to its involvement in illegal activities, particularly operating as a Ponzi scheme. UAG has received numerous complaints and lacks valid regulation, making it a highly risky option for investors.
UAGTrade offers a range of market instruments for trading, including forex, precious metals, energies, and index CFDs. While these instruments can potentially provide opportunities for profit, engaging with UAG carries significant risks due to its scam broker status.
The broker provides two main account types: Standard and ECN. The Standard Account requires a minimum deposit of 100 USD, while the ECN Account has a higher minimum deposit of 500 USD. Both accounts have specific features and benefits tailored to different types of traders.
Opening an account with UAGTrade involves creating a login, uploading the necessary Know Your Customer (KYC) documents, and depositing funds into the trading account. It is essential to carefully read and understand the broker's Terms & Conditions before proceeding.
UAGTrade offers a maximum leverage of 1:200 for both account types, allowing traders to open larger positions with a smaller margin requirement. The broker also provides various spreads and commissions, depending on the chosen account type.
Clients can deposit and withdraw funds using various methods, including direct bank transfer, PayPal, and Bitcoin wallet. However, it's important to note that while UAGTrade does not charge fees for deposits or withdrawals, there may be transfer fees imposed by the payment providers.
Traders can access the MetaTrader 4 (MT4) platform, a widely recognized trading platform known for its user-friendly interface and extensive charting capabilities. UAGTrade also offers its proprietary UAGTrade APP.
To assist traders, UAGTrade offers a News & Analytic Centre, providing valuable insights and analysis on market developments. Traders can stay informed about the latest financial news and events that impact the markets.
Customer support is available through email and phone during weekdays, with the company's head office located in Cambodia. However, given UAG's scam broker status, it is crucial to exercise caution when engaging with their customer support.
In conclusion, UAG (Universal Asset Group) is an unregulated broker operating as a Ponzi scheme. It is essential to avoid such brokers and seek regulated alternatives for investment safety. Engaging with UAG poses significant risks, including potential loss of funds.
Pros and Cons
UAG (Universal Asset Group) presents both pros and cons that potential investors should consider before engaging with the broker. On the positive side, UAGTrade offers a range of market instruments for trading, including forex, precious metals, energies, and index CFDs. They provide two main account types, the Standard and ECN accounts, catering to both beginner and experienced traders. The broker also offers different spreads and commissions, depending on the chosen account type. Additionally, UAGTrade provides customer support through email and phone during weekdays, ensuring assistance for traders.
However, there are significant drawbacks to be aware of. UAG is an unregulated broker and has been identified as an illegal Ponzi scheme by WikiFX. It lacks valid regulation and has received numerous complaints, indicating a high level of risk. The absence of proper regulatory oversight raises concerns about the safety of funds and the integrity of the trading environment. Furthermore, UAGTrade's website does not provide valid regulatory information or licenses, adding to the suspicions surrounding the broker.
It is crucial to weigh these pros and cons carefully before making any investment decisions, as the risks associated with UAGTrade are significant. Consider seeking alternative, regulated brokers to ensure investment safety.
| Pros | Cons |
| Range of market instruments for trading | Identified as an illegal Ponzi scheme by WikiFX |
| Two main account types catering to different traders | Lack of valid regulation and numerous complaints |
| Customer support available during weekdays | Absence of valid regulatory information and licenses |
| UAGTrade APP for mobile trading | High potential risk associated with unregulated brokers |
| Availability of MetaTrader 4 (MT4) trading platform | Suspicious regulatory license and questionable legitimacy |
| Daily market news and analysis to support informed trading | Negative WikiFX Score due to multiple complaints |
| Real-time cashback and incentives for traders | No valid regulatory information, posing significant risk to investors |
Is UAG Legit？
UAG (Universal Asset Group) is an unregulated broker that has been identified as illegal and listed on WikiFX's Scam Brokers list. It operates as a Ponzi scheme, using new investors' funds to pay off earlier investors. UAG has no valid regulation and has received numerous complaints. Investing or engaging with UAG poses significant risks, including the potential loss of funds. It is crucial to avoid such brokers and seek regulated alternatives for investment safety.
UAGTrade offers a range of market instruments for trading. These instruments include:
1. Forex: UAGTrade provides access to the forex market, allowing traders to trade major, minor, and exotic currency pairs. Forex trading involves buying one currency while simultaneously selling another, aiming to profit from the fluctuations in exchange rates.
2. Precious Metals: Traders can also trade precious metals like gold, silver, platinum, and palladium. Precious metals are considered valuable assets and are often used as a hedge against inflation or economic uncertainty.
3. Energies: UAGTrade offers trading opportunities in energy commodities such as crude oil and natural gas. These commodities are essential in global energy consumption, and their prices can be influenced by various factors, including geopolitical events and supply-demand dynamics.
4. Index CFDs: UAGTrade allows traders to trade Contracts for Difference (CFDs) on various market indices. Index CFDs represent the performance of a specific stock market index, such as the S&P 500 or the FTSE 100, without requiring the trader to own the underlying assets.
| Pros | Cons |
| Access to major, minor, and exotic currency pairs | Lack of transparency in regulatory information |
| Trading opportunities in precious metals | High potential risk associated with unregulated brokers |
| Availability of energy commodities | Identified as an illegal Ponzi scheme by WikiFX |
| Ability to trade index CFDs | Limited trading tools and research resources |
Account Types
UAGTrade offers two main account types: Standard and ECN. Here's a brief comparison of the account types:
1. STANDARD ACCOUNT:
The Standard Account is a popular choice suitable for both beginner and experienced traders. It requires a minimum deposit of 100 USD and offers a maximum leverage of 1:200. The account has spreads starting from 1.6 pips, allowing traders to benefit from low pricing. Additionally, traders using the Standard Account can enjoy real-time cashback of $12 per lot.
2. ECN ACCOUNT:
The ECN Account is designed for advanced traders seeking enhanced trading conditions. It requires a higher minimum deposit of 500 USD, reflecting its focus on more experienced traders. The account offers a maximum leverage of 1:200 and features tighter spreads starting from 0.1 pips. However, unlike the Standard Account, the ECN Account has a commission of $2 per lot instead of real-time cashback.
Both account types allow trading with a minimum trade size of 0.01 lots and a maximum trade size of 100.00 lots. They also have a stop-out level and margin call level set at 50% and 150%, respectively. The account currency for both types is in USD.
| Pros | Cons |
| Standard Account is suitable for both beginner and experienced traders | ECN Account requires a higher minimum deposit of 500 USD |
| Real-time cashback of $12 per lot for Standard Account holders | ECN Account has a commission of $2 per lot instead of cashback |
| Both account types allow trading with a wide range of lot sizes, from 0.01 to 100.00 lots | Higher minimum deposit may not be affordable for all traders |
| Maximum leverage of 1:200 for both account types | Commission structure in ECN Account may not be preferred by some traders |
How to Open an Account？
Opening an account with UAGTrade is a simple and straightforward process. Here's a brief guide on how to open an account:
1. Create your login: Visit the UAGTrade website and click on the registration or signup button. Fill out the registration form by providing your username, first name, last name, email address, contact details, and any introducer information if applicable.
2. Upload your KYC: In order to comply with regulatory requirements and ensure the security of your account, you may be required to verify your identity. Follow the instructions provided by UAGTrade to upload the necessary Know Your Customer (KYC) documents, such as a valid identification document (ID) or proof of address.
3. Deposit and Trade: Once your account is created and your identity is verified, you can proceed to deposit funds into your UAGTrade wallet. UAGTrade offers multiple bank methods for depositing funds. Choose the payment method that suits you best and follow the instructions provided to complete the deposit process. Once your funds are deposited, you can start trading on the platform.
4. It's important to carefully read and understand the Terms & Conditions of UAGTrade before proceeding with the account creation process. By agreeing to the Terms & Conditions, you acknowledge and accept the rules and guidelines set by UAGTrade.
Leverage
UAGTrade offers a maximum leverage of 1:200 for both Standard and ECN accounts. This means that traders can trade with a leverage of up to 200 times their initial investment. Higher leverage enables traders to open larger positions with a smaller margin requirement.
Spreads & Commissions
At UAGTrade, traders can benefit from the spreads and commissions, allowing for cost-effective trading. Here's a brief overview of the spreads and commissions offered:
For the Standard account type, UAGTrade offers spreads starting from 1.6 pips. This account type is suitable for both beginners and experienced traders, providing a balance of features and accessibility. Additionally, traders with Standard accounts can enjoy real-time cashback of $12 per lot, which adds an extra incentive to their trading activities.
For advanced traders, UAGTrade offers the ECN account type. This account type combines the best features of ECN accounts and is tailored to meet the needs of experienced traders. With spreads starting from 0.1 pips, ECN account holders can benefit from tighter spreads, enhancing their trading opportunities. Unlike the Standard account, the ECN account does not incur a commission per lot.
Trading Platforms
UAGTrade offers its clients two trading platforms: MetaTrader 4 (MT4) and the UAGTrade APP.
1. MetaTrader 4 (MT4):
MT4 is a widely recognized and highly regarded trading platform in the industry. It is known for its user-friendly interface, extensive charting capabilities, and a wide range of technical analysis tools. Here are some key features of MT4:
- Trading Tools: MT4 provides traders with a comprehensive set of trading tools, including multiple order types, customizable indicators, and expert advisors (EAs) for automated trading.
- Market Access: The platform offers direct market access, allowing traders to execute trades quickly and efficiently. It provides access to a wide range of financial instruments, including forex, precious metals, energies, and index CFDs.
- Mobile Compatibility: MT4 is available for desktop use, but it also offers a mobile version that is compatible with both iOS and Android devices. This allows traders to stay connected and monitor their positions on the go.
2. UAGTrade APP:
UAGTrade also offers its proprietary trading app, the UAGTrade APP. While specific details about the UAGTrade APP are not provided in the given information, it can be inferred that this app is developed by UAGTrade and is designed to provide traders with a user-friendly trading experience. It is likely to offer features such as real-time market quotes, order placement, and account management functionalities.
Both MT4 and the UAGTrade APP aim to provide traders with the necessary tools and technology to execute trades effectively. Traders can choose the platform that best suits their preferences and trading needs, whether they prefer the advanced features of MT4 or the convenience of the UAGTrade APP.
| Pros | Cons |
| MetaTrader 4 (MT4) platform | Limited information about the UAGTrade APP |
| User-friendly interface | Potential lack of advanced features in UAGTrade APP |
| Extensive charting capabilities | Reliance on third-party platform (MT4) |
| Wide range of technical analysis tools | Limited customization options (MT4) |
| Comprehensive trading tools | Potential technical issues or downtime (MT4) |
| Mobile compatibility |
Trading Tools
UAGTrade offers a comprehensive News & Analytic Centre to keep traders informed about the latest market developments. This tool provides valuable insights and analysis on various financial news and events, allowing traders to make informed decisions.
The News & Analytic Centre includes a wide range of news articles and updates across different categories such as finance, business, oil, and more. Traders can stay up-to-date with the latest market trends, economic indicators, corporate news, and geopolitical events that impact the financial markets.
The tool covers a diverse range of topics, including climate change and its impact on investments, market milestones achieved by companies like Nvidia, regulatory decisions affecting major deals like Microsoft's attempted acquisition of Activision Blizzard, corporate appointments such as Nestle's hiring of a new CFO, and significant business deals like Asda's acquisition of EG Group's petrol stations.
By providing timely and relevant news updates, UAGTrade's News & Analytic Centre helps traders gain a deeper understanding of the market dynamics and make informed trading decisions. It is an invaluable resource for traders looking to stay ahead in the ever-changing financial landscape.
Customer Support
UAGTrade provides customer support to assist traders with their inquiries and concerns. Here are the key details about their customer support:
1. Contact Information:
- Email: For general inquiries and information, traders can reach out to UAGTrade via email at support@uagkh.com. This email address can be used to request information or ask any questions related to their services.
- Phone: Traders can also contact UAGTrade via phone at +855 69 211 629. This allows for direct communication with their customer support team.
2. Office Address:
- Head Office Address: UAG Trade Asia Co., Ltd, No. A10, Village 1, Sangkat Sras Chork, Khan Daun Penh, Phnom Penh City, Cambodia.
- Registered Office Address: UAG Trade Asia Co., Ltd, No. A10, Village 1, Sangkat Sras Chork, Khan Daun Penh, Phnom Penh City, Cambodia.
3. Support Hours:
- UAGTrade's customer support is available during weekdays from Monday to Friday, from 8 am to 5 pm. However, their support services are closed on Saturdays and Sundays.
Deposits and Withdrawals
UAGTrade provides multiple deposit and withdrawal options for their clients. Here's a brief description of the deposit and withdrawal process:
1. Direct Bank Transfer:
- Accepted Currencies: USD and MYR (Malaysian Ringgit) only.
- Minimum Deposit Amount: $50.
- Processing Time:
- Deposit: Up to 24 hours.
- Withdrawal: 1-3 working days.
2. PayPal:
- Accepted Currencies: Any PayPal supported currencies.
- Minimum Deposit Amount: $100.
- Processing Time:
- Deposit: Up to 24 hours.
- Withdrawal: 1-3 working days.
3. Bitcoin Wallet:
- Accepted Currency: Bitcoin (BTC) only.
- Minimum Deposit Amount: $100 or equivalent in BTC.
- Processing Time:
- Deposit: Up to 24 hours.
- Withdrawal: 1-3 working days.
UAGTrade does not charge fees for deposits or withdrawals made via PayPal or Bitcoin methods. However, it's important to note that there may be transfer fees imposed by the payment providers, which are independent of UAGTrade. Clients are responsible for any such fees.
UAGTrade processes deposits to clients' accounts within 24 hours upon successful transaction. Withdrawal requests are typically processed within 1-3 working days. It's important to note that all transactions are processed during weekdays, and any requests made during weekends will be processed on the next working day.
UAGTrade does not accept payments from third parties. Clients are required to ensure that deposits into their UAGTrade trading accounts come from a bank account in the same name. Payments from joint bank accounts will be accepted if the account holder is one of the parties listed on the bank account.
| Pros | Cons |
| Multiple deposit and withdrawal options | Limited accepted currencies (USD, MYR, BTC) |
| Quick processing time for deposits | Minimum deposit amount required ($50 or $100) |
| Fast withdrawal processing (1-3 working days) | Potential transfer fees imposed by payment providers |
| No fees for PayPal and Bitcoin transactions | Payments only accepted from same-name bank accounts |
| Weekend requests processed on next working day | Limited flexibility in payment options |
Conclusion
In conclusion, UAG (Universal Asset Group) is an unregulated broker that operates as a Ponzi scheme, making it a highly risky and potentially fraudulent investment option. It has been listed on WikiFX's Scam Brokers list due to numerous complaints and lack of valid regulation. Engaging with UAG poses significant dangers, including the potential loss of funds. However, UAGTrade does offer a variety of market instruments for trading, such as forex, precious metals, energies, and index CFDs. They provide two account types, Standard and ECN, with leverage of up to 1:200. Additionally, UAGTrade offers the widely recognized MetaTrader 4 (MT4) platform and their proprietary UAGTrade APP for trading. Despite these advantages, the lack of regulation, the presence on the Scam Brokers list, and the high potential risk make UAG a highly unfavorable choice for investors, who should instead seek regulated alternatives for their investment safety.
Risk Warning
Multiple platforms online have received a large number of complaints from UAGTrade, mainly covering the inability to withdraw funds. Please note that the trader may be an illegal Ponzi scheme.
FAQs
Q: Is UAG a legitimate broker？
A: UAG (Universal Asset Group) is an unregulated broker listed on WikiFX's Scam Brokers list. It operates as a Ponzi scheme, posing significant risks to investors. It is crucial to avoid such brokers and seek regulated alternatives for investment safety.
Q: What market instruments can I trade with UAGTrade？
A: UAGTrade offers trading in forex, precious metals, energies (crude oil and natural gas), and index CFDs. These instruments provide opportunities to trade major, minor, and exotic currency pairs, valuable metals, energy commodities, and the performance of specific stock market indices.
Q: What are the account types offered by UAGTrade？
A: UAGTrade offers two main account types: Standard and ECN. The Standard Account is suitable for both beginners and experienced traders, while the ECN Account is designed for advanced traders seeking enhanced trading conditions.
Q: How can I open an account with UAGTrade？
A: To open an account with UAGTrade, visit their website and complete the registration form by providing the required information. Additionally, you may need to upload Know Your Customer (KYC) documents for verification purposes. Once your account is created and verified, you can deposit funds and start trading.
Q: What leverage does UAGTrade offer？
A: UAGTrade offers a maximum leverage of 1:200 for both Standard and ECN accounts. This allows traders to trade with up to 200 times their initial investment.
Q: What are the spreads and commissions at UAGTrade？
A: UAGTrade offers spreads starting from 1.6 pips for the Standard account type. ECN account holders can benefit from tighter spreads starting from 0.1 pips. The Standard account offers real-time cashback of $12 per lot, while the ECN account has a commission of $2 per lot.
Q: What deposit and withdrawal options are available at UAGTrade？
A: UAGTrade provides options such as direct bank transfer, PayPal, and Bitcoin wallet for deposits and withdrawals. Minimum deposit amounts and processing times vary depending on the chosen method.
Q: Which trading platforms are available at UAGTrade？
A: UAGTrade offers MetaTrader 4 (MT4) and their proprietary trading app, the UAGTrade APP. MT4 is a widely recognized platform known for its user-friendly interface and extensive charting capabilities.
Q: What trading tools does UAGTrade provide？
A: UAGTrade offers a News & Analytic Centre, which provides traders with valuable insights and analysis on financial news and events. This tool helps traders stay informed about the latest market developments and make informed trading decisions.
Q: How can I contact UAGTrade's customer support？
A: You can contact UAGTrade's customer support via email at support@uagkh.com or by phone at +855 69 211 629. They are available during weekdays from Monday to Friday, from 8 am to 5 pm.
Q: Where is UAGTrade's head office located？
A: UAGTrade's head office is located at No. A10, Village 1, Sangkat Sras Chork, Khan Daun Penh, Phnom Penh City, Cambodia.
Keywords
- Scam Brokers
- 5-10 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
News
Exposure WikiFX Review: Something You Need to Know About UAG
Founded in 2016, UAG is an online forex broker based in the United Arab Emirates. However, WikiFX has listed this broker as a scam broker. Why?
2023-03-19 08:30
News UAG Trade Review Scam
Read our UAG Trade review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is an uagtrade.com review.
2021-12-14 12:02
Review 12
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FX3702007632
Indonesia
UAG broker and eureka master scan clients with estimated millions of dollars. we were scammed on the night of January 26, 2022. and this is pure scammer
Exposure
2022-02-19
FX4069904427
Pakistan
Uag broker and a master trader eruka both scamed us by manipulated gold figures.Eruka open trades and he continued trades until our whole account wiped out.Uag broker and that eruka name master trader both scamed us
Exposure
2022-01-27
สมพง พระประแดง
Thailand
I've waited for my withdrawal for a long time
Exposure
2021-03-18
Puwadon Boonsueb FX
Thailand
I couldn’t withdraw my fund as usual.
Exposure
2020-03-07
FX1230691344
Thailand
The withdrawal of $7500 applied in last October is yet to be received.
Exposure
2020-03-04
Piturart Sinarun
Thailand
The withdrawal is unavailable. LP transferred the fund on Jan. 31st and cliamed taht I couldn't withdraw fund repeatedly.
Exposure
2020-02-01
พนิต โกวิทวิกรัย
Thailand
Unable to withdraw in scam platform
Exposure
2019-12-10
Satid Sukong
Thailand
The withdrawal is unavailable for months.
Exposure
2019-12-07
พนิต โกวิทวิกรัย
Thailand
Unable to withdraw. LP is said to abscond.
Exposure
2019-12-06
FX7162886022
Thailand
The withdrawal has been unavailable for 6 months.My account has been canceled.
Exposure
2019-11-27
Master
Thailand
No money to pay, Broker Cheat
Exposure
2019-10-31
明月清风43177
Australia
Fraud company. I’ve lost over $2,000 to these scammers. Once I said I didn’t want to do it they held my money and I cannot get in touch. No replies to emails or complaints. They think they can keep your money and that’s it.
Neutral
2023-02-23