What is the best way to attract the interest of people? Offer them the most competitive trading conditions. That is exactly what United Markets Capital did, but with one addition — this broker also promised a personal approach and top priority for each client, no matter the account.
Quality of service
From all those promises, I expect nothing but extraordinary service. So, let’s see if my expectations will be fulfilled. If you decide to start trading with United Markets Capital, you will have the possibility to choose between a web platform and a mobile phone app. The web one is fast, and it has a wide range of risk management tools like price alerts and stop-losses. Also, you can customise it for a little bit and remember your preferences for the next time you enter.
Aside from an excellent platform, there are six account types. The selection is excellent, but my concern is that you cannot see trading conditions before you register. The only thing listed is the minimum deposit amount, but we have no idea about the leverage, margin loan percentage, etc. Also, Platinum and VIP accounts are locked, and you have to contact your account manager to unlock them. This means that you need to be a registered user who already made a deposit to have a Platinum account.
The last part I wanted to check is education. This broker promises to help you develop professional trading skills, but when you go to the education center, the only thing you will find is an empty page, there is not even a Glossary listed.
Apparently, all those things from the beginning are nothing but false promises. I do have hopes that other segments of its business will be better, but let’s see that.
Speed of response
Do you want to hear an interesting thing? A broker that promises a personal approach and human interaction doesn’t have a Contact Us page. Actually, the page exists but when you click on it you will be redirected to Outlook.
So, there isn’t a live chat to get a fast response or at least the online form. Needless to say, this is unacceptable. We are still not on the half of this United Markets Capital review and I am already completely disappointed.
If there is anything I hate to see about brokers, it’s an unorganised website. It is quite frustrating when you have to spend a lot of time seeking important information. At United Markets Capital, you won’t find the Deposit and Withdrawal Policy page. Instead, you need to go to Terms and Conditions and find issue number 17, there you will see some basic information.
The transaction time is not long, up to seven business days but there is one statement that is questionable. You will receive the money within those seven days if there are no unforeseeable circumstances that prevent the company from making a withdrawal. Of course, no one knows what those circumstances are.
You can already see in this United Markets Capital review this is not a trustworthy broker. That said, I expected to see numerous fees that are applied to each account. Let’s start with the inactivity fee. If you deposit money but you do not trade in a period of 30 days, you have to pay a handling fee of 70% of the initial investment amount.
If you are not active after that and 60 days pass, monthly maintenance of $50 will be automatically charged from your account. Aside from this, you need to pay administrative fees and financing fees for CFDs. As you can see, this broker is full of different commissions and the only advice I can give you is to go to the Terms and Conditions and read everything very carefully.
This broker is not a regulated one. Of course, a license is not the only thing you should look at but, in this case, it is extremely important. When someone doesn’t provide good trading conditions, charges numerous fees, and doesn’t offer support, you are risking a lot. And trust me when I say, nothing is worth that risk.
Variety of payment methods
The main problem with this broker is the fact that for every important information you can read “The detailed information is shown on the Website.” So, when you go to the Deposits and Withdrawals in the Terms and Conditions to find out more about payment methods, you can find only that.
The only information I was able to find is that the available methods are Credit Card and Wire Transfer, that’s it.
From everything mentioned above, you can see it for yourself that this broker is not the one I can recommend. There are so many options out there and you should find the one that will keep your funds safe.