Hey people

I’m looking for some information around a company called Unicorn Forex Broker. This is they – https://unfxb.com/. What I really want to know is are they well known in the trading world and can I trust them.

They are doing a $3000 deposit bonus so I’m thinking about signing up.

I appreciate any information people have about thewm.

Cora

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[James BarraModerator DayTrading.com Team]

Hi Cora35,

Thank you for your message.

Our team have evaluated Unicorn Forex Broker, or UNFXB, and would exercise caution before depositing funds.

The reasons we have concerns are as follows:

• Unicorn Forex Broker is registered offshore with ‘red tier’ regulators (financial bodies with a reputation for lax investor safeguards), notably the Financial Services Authority of Saint Vincent and the Grenadines (FSA).
• Unicorn Forex Broker is not well-known in the online trading industry, especially compared to well-established, highly-trusted brokers like IG and Interactive Brokers.
• While it’s true Unicorn Forex Broker offers a bonus of up to $3000, I read the terms and conditions and these funds cannot be withdrawn. It’s also worth calling out such incentives are banned in many tightly regulated trading jurisdictions.

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[Steve]

I’ve never used this company but wouldn’t for the reasons James has already outlined. I would stick to the bigger, better known and more regulated trading firms.

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[Eddie]

Never heard of this company in my life which is worry enough. Also ‘Unicorn Forex Broker’, is that a real name for a serious trading platform?

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[Christian HarrisParticipant]

Never heard of them. Be careful.

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[Leo]

I just looked at them and I would not be depositing any cash with these guys. You basically need to deposit thousands to get spreads you can get at loads of brokers for a fraction of the investment.

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