UnlimitedFX is a forex broker registered on August 15, 2023, providing financial trading services such as forex, indices, stocks, energy, and commodities. The company is headquartered in Bucharest, the capital of Romania. The broker primarily caters to investors who speak English and Arabic. UnlimitedFX does not offer its services in jurisdictions where it may violate local laws or regulations, including but not limited to the United States, Cuba, North Korea, Iran, and Syria.
Company Background and Regulatory Status:
According to publicly available information on its official website, UnlimitedFX is registered under the entity Unlimited LTD, with a registered address on Bonovo Road – Fomboni Island of Mohéli – Comoros Union. The company registration number is HY00723418, and the actual office address is Grigore Gafencu St. 78-84, 014141, Bucharest. As of November 15, 2023, the broker has been registered for just three months.
The Comoros Union does not provide online access to verify company registration information, and no information about this entity can be found online. Additionally, the broker's official website does not disclose any authorization or regulation by an official financial regulatory authority of any country. It only claims, in its "Terms and Conditions," that the listed terms are governed by Saint Vincent and the Grenadines law and interpreted according to the laws of Saint Vincent and the Grenadines.
Account Opening:
To open an account with UnlimitedFX, users need to click on "SIGN UP" in the upper right corner of its official website. During the registration process, users are required to provide their name, personal email, country, phone number, and set a login password.
Account Types:
UnlimitedFX offers five different types of real trading accounts: MICRO Account, BASIC Account, GOLD Account, PLATINUM Account, and VIP Account. Each account type has different minimum deposit requirements, maximum leverage, and spread details.
- MICRO Account: Minimum deposit of $250, maximum leverage of 1:50, spread not disclosed.
- BASIC Account: Minimum deposit of $2500, maximum leverage of 1:100, spread not disclosed.
- GOLD Account: Minimum deposit of $10,000, maximum leverage of 1:200, offers gold spreads.
- PLATINUM Account: Minimum deposit of $50,000, maximum leverage of 1:300, offers platinum spreads.
- VIP Account: By invitation only, minimum deposit unknown, maximum leverage of 1:400, offers VIP spreads.
Trading Platform:
UnlimitedFX provides users with the MT5 trading platform, available on desktop and mobile, with servers provided by Unlimited LTD.
Deposits and Withdrawals:
UnlimitedFX supports only credit card and blockchain methods for deposits and withdrawals. The process requires identity verification, including submitting a colored copy of a photo ID (passport, driver's license, or national ID), a colored copy of the front and back of the credit/debit card used for funding, and proof of address (utility bills or bank/card statements).
Customer Support:
Users can contact UnlimitedFX customer support through phone at +40371700124, email at support@unlimitedfx.io, or the online contact form on the broker's official website.
Summary:
TraderKnows advises investors that UnlimitedFX is an unregulated forex broker, and the information provided on its website regarding trading accounts is unclear, with a relatively high minimum deposit threshold. TraderKnows recommends investors choose platforms with effective regulation and a good reputation to avoid potential financial losses. As of now, this broker has been flagged as "suspected fraud" on TraderKnows.
