Ubanker South Africa: Is It A Scam?

Starting out in the world of FOREX trading is not something that’s easy for most people. Even if it’s not as ambiguous and new as Bitcoin, it’s still a complicated market that requires constant vigilance and a cool head so you can overcome the many shortcomings related to its volatility. Add to it an environment filled with Scams and a need to continually look at Reviews for sites to avoid losing all your investment, and you get a reasonably rough market.

To make up for it, the internet is filled with information dedicated to establishing a robust database on what’s right and what’s not that will help you as you become a more skilled trader.

And, to help you, even more, we’ve prepared this review on the somewhat mysterious broker Ubanker. To let you know whether it is a Scam or not, and if it’s worth it to create your login account on it and trust them with your money.

So, join us as we unveil the different aspects related to this agency and its trustworthiness.

  1. What Is Ubanker?

Whenever you start adventuring into the FOREX market, you’ll quickly notice that every guide will talk to you about broker services.

Brokers are third parties that act as intermediaries between trades in the market. What they do is take your invested money, buy or sell accordingly to your order, and hand you the result.

The need for a broker is because of the complexity of the market, whose size makes it so that there are just too many swings and indicators you need to be aware of.

Broker services work by creating an account. When you login, you are greeted with an interface filled with indicators, settings, and options. Here, you may keep track of your orders, set new ones, withdraw or deposit funds, and virtually everything doable by the broker.

It is on this platform that you are able to access the functions of the broker and, as such, its quality depends a lot on the quality of the platform they use.

That is what Ubanker is, a FOREX broker.

Ubanker is a retail FOREX broker based in South Africa which lets you trade the way a banker does. Their primary goal is to, as their motto says, give people control of their finances.

One of the main ways they provide with that is through training and an easy-to-use interface. And this is commendable seeing how giving more power to people is something that doesn’t usually benefit a Scam.

  1. Features of Ubanker.

What makes a broker efficient or not is the features it provides their users with. Whether it is a stable trading platform, leverage, or training, the possibilities allowed by a brokering service is a make-or-break deal for this industry.

Because of that, Reviews always focus a segment on that topic, and we will be no exception.

Right out of the gate, Ubanker meets us with a good list of features, the first one being a versatile and famous trading platform, MetaTrader 4, or MT4. It’s worth noting that MT4 is one of the most famous trading platforms in the industry as of now, and with good reason, since it allows for significant flexibility with more than 30 currency pairs and an excellent choice for indicators.

Despite the proper number of features, MT4 remains a responsive and fast platform, something that helps it adapt to the powerful and dynamic market without much of a hassle.

A somewhat atypical characteristic of Ubanker South Africa is that they possess a robust financial baking with a base of their own. That lifts the stress placed on users’ deposits since it makes the firm less dependent on them.

Usually, a broker needs to generate a profit from their clients’ investments because they are their lifeblood. That is something that places an enormous weight over investors since their money is what keeps the company functioning. With their own backing, this is eliminated because the company can subsist on its own for a while.

Additionally, Ubanker offers free training to their customers, so that they do not trust the agency blindly and they get to understand exactly what they’re doing with their money. That is something that a lot of Reviews appreciate about brokers since it signifies transparency and commitment to their clients’ financial well-being.

Finally, we have the Ubanker app, which lets traders manage their accounts whenever they are as well as their ongoing orders and the well being of their investments.

  1. Licensing.

This one is the point where Ubanker fails. Ubanker South Africa is an unlicensed broker firm, which is something that may make a lot of people feel uneasy about investing in them.

Being with a licensed broker provides with some safety net in case things go downhill for the firm itself.

However, there are some brokers that have proven their legitimacy and reliability despite not having a license. In said cases, their reputation more than makes up for that fact.

While this is indeed a warning sign, is one that may be taken with a grain of salt, given the many good Reviews Ubanker has been receiving.

  1. Final opinion on Ubanker.

Whether Ubanker is a Scam or not, it remains something to be discovered in a few months or years, given the broker’s age. However, it is worth saying that it does not seem to be the case.

With a great set of features, coupled with a stable platform and learning programs destined to their customers’ benefit, Ubanker South Africa seems to be a legitimate broker agency that is, at least, worth trying out.

And that is not something that would cost you too much, given how they allow you to start investing with just an initial $200 deposit before login into your account.

All in all, most Reviews seem to agree in that Ubanker South Africa is a good investment, especially if you’re new to the world of FOREX.