WikiFX Review: Traders need to be aware of a broker called UAG Markets

Investors, especially those in Malaysia, need to be aware of a broker called UAG Markets. Don't be fooled by the broker's promotion tactics; read this article before you make a decision.

About UAG Markets

UAG Markets was registered in Cambodia. This broker was newly established. According to what it claimed on its website, UAG Markets is an online broker that allows trading currency pairs, precious metals, and others. It emphasizes state-of-the-art order execution, competitive spreads, and service and support. However, WikiFX has given this broker a low score of 1.49/10.

Account Types & Minimum Deposit

UAG Markets offers clients three different types of accounts. They are the ECN account, Bonus Account, and Standard Account. The minimum deposit for an ECN account is $100; The minimum deposit for a Bonus account and a Standard account is $25.

Is it legit？

As far as we know, UAG Markets is not a regulated broker. It is not regulated by any regulatory institution. Investing in an unregulated broker is more dangerous than investing in a regulated broker. We advise investors, especially investors in Malaysia, to be aware of its shortage, no matter how fascinating UAG Markets offer looks.

UAG in Malaysia

This broker seems to focus on the Malaysian market recently. UAG Markets spends a lot of energy promoting itself on social media platforms. People associated with UAG display luxury items such as sports cars on social media platforms to suggest that UAG is a powerful and reliable broker. If you had invested in UAG Markets, you would have had all that, too. But is this really the case？

Leverage

In general, broker leverage is focused on 1:100 or 1:200. But, on its website, this broker claimed to offer high leverage of up to 1:2000. Moreover, based on what it claimed on Malaysian social media, this broker claimed to offer high leverage of up to 1:5000, which is very abnormal as the leverage is too high. Suh a high leverage ratio can bring investors great danger. You may lose to the last penny if you are addicted to this leverage.

How do we know the reliability of UAG Markets before taking any actions？

Like many other scams, UAG Markets had a bad track record of freezing traders‘ accounts and stealing traders’ money, which can cause you massive investment risk. By analyzing the data of AGU Markets comprehensively and systematically, WikiFX responsibly gives UAG Markets very low rankings. WikiFX offers you a convenient way to check out the information of the forex broker that you are searching for depending on their reliability. Through WikiFX, you will have a clear understanding of whether the broker is reliable or not. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en) to check out more information by yourself.