Universal Cryptosphere Trade is a newly established CFD (Contract for Difference) broker, founded on January 16, 2024. The official website domain is www.universalcryptosphere.com. The platform claims to offer various CFD trading services including forex, stocks, indices, precious metals, commodities, and cryptocurrencies.
Company Background
Establishment Date and Domain Registration
According to the official website, the company was established in 2006. However, the domain registration details directly contradict this claim. The domain www.universalcryptosphere.com was registered on January 16, 2024, indicating that the company was likely set up much later than the claimed date. This discrepancy might be intended to create an illusion of a longer history to investors, masking its recent establishment.
Regulatory Information
The platform claims to be registered in Mauritius (registration number 170969) and regulated by the Mauritius Financial Services Commission (FSC), with the regulatory license number GB19024896.
Upon thorough investigation, the TraderKnows team discovered that the same company registration number and regulatory information actually belong to the well-known broker GO Markets. Universal Cryptosphere Trade has misappropriated the company registration and regulatory information of GO Markets Pty Ltd in an attempt to mislead investors into believing it is regulated.
Trading Platform
The platform claims to offer MT4 and MT5 platforms for users to trade. MT4 and MT5 are powerful and widely used trading software in forex and CFD trading.
After investigation, the TraderKnows team could not find any servers related to Universal Cryptosphere Trade in the MT4 and MT5 server lists. This suggests that the platform may not actually provide these trading software as claimed, or there are significant issues with their platform.
Account Types and Trading Conditions
Account Types
The platform offers two account types: GO Plus+ Account and Standard Account.
GO Plus+ Account charges a commission of AU $3.00 per one-way trade, while the Standard Account charges no trading commission. The spread for GO Plus+ Account starts from 0.0 pips, and for the Standard Account from 1 pip.
While seemingly providing flexible trading conditions, due to the platform's many opacities, investors should approach these conditions with caution.
Leverage and Risk
The platform offers a maximum trading leverage of 1:500. This leverage ratio seems attractive to traders, allowing for amplified potential profits, but it also significantly increases trading risks. Without proper regulation, brokers offering such high leverage may be inclined to attract high-risk investors, further exacerbating investors' risk of loss.
Deposits and Withdrawals
The platform supports a variety of payment methods for deposits and withdrawals, including Mastercard, Visa, Skrill, Neteller, Bank/Wire Transfer, and Fasapay. However, it is unclear whether there are truly effective withdrawal channels. While deposits may proceed relatively smoothly, investors might face numerous restrictions or difficulties during withdrawal, a common tactic of fraudulent platforms.
Educational Resources and Market Analysis
The official website provides some forex trading educational resources, including introductory courses, podcasts, webinars, and trading strategy articles. These resources seem aimed at helping traders enhance their trading knowledge and skills. However, given the platform's regulatory doubts and questionable background information, investors should be cautious about the reliability of these educational resources.
Contact Information and Social Media
Universal Cryptosphere Trade only provides email ([email protected]) and an online contact form on their website as means of communication.
The website also displays icons of multiple social media platforms like LinkedIn, Facebook, Instagram, and Twitter. However, investigation reveals that the platform has not set up any accounts on these social media platforms.
Brand Exposure and Website Traffic
According to Semrush data, the official website averages less than 100 visits per month. This extremely low level of traffic indicates that the platform has garnered nearly no market attention and is unable to attract a substantial number of users for trading. This is far from the image the platform projects as a global CFD trading service provider and may reflect extremely low brand awareness and credibility.
More concerning is the lack of any news coverage or brand exposure about the platform on the public internet, further raising suspicions of it being a potential fraudulent platform.
Risk Report
After comprehensive analysis, Universal Cryptosphere Trade presents several severe risk factors:
- Regulatory Issues: The platform claims to be regulated by Mauritius FSC but actually uses GO Markets' registration details, proving it is not genuinely regulated.
- Lack of Platform Transparency: There are transparency issues concerning the trading software and account types offered by the platform, and there is no server information displayed on the MT4/MT5 servers.
- High Leverage Risk: Offering high leverage of 1:500 could expose traders to extremely high risks, especially in the absence of effective regulation.
- Deposit and Withdrawal Issues: The platform supports multiple payment methods, but the authenticity and effectiveness of withdrawals cannot be guaranteed, potentially leading to issues such as difficulty withdrawing funds.
- Lack of Social Media Presence: Although the platform claims to be active on multiple social media sites, investigations reveal no such accounts, serving as a warning sign to investors.
- Extremely Low Website Traffic: The official website averages less than 100 visits per month, indicating the platform has almost no genuine users and lacks market exposure, further suggesting it might be a scam.
In conclusion, while Universal Cryptosphere Trade appears to have attractive conditions, there are serious fraud suspicions underlying it. Investors should be wary and stay away from this platform to avoid losses.
