Suspicious Signs of a Broker with Manipulated Statistics
Avoid interacting with brokers showing signs of fraudulent activity and similarity to other projects of a suspicious nature. Otherwise, you may end up among deceived traders who futilely seek justice, leaving negative reviews to warn of fraud. This time, let’s focus on the company UI Group. This international CFD broker boasts over 300,000 satisfied traders and 1.75 million daily trading operations.
Ui-group.com has a small number of reviews, which is surprising for a company with 4 years of experience in financial markets. Let’s analyze why traders did not appreciate the work of this broker and what UI Group actually represents.
Company Registration Information and Licenses
According to the official version, UI Group is registered in Cyprus at Spyrou Kyprianou Ave 86, Limassol. Previously, this could raise suspicions of fraud, but now all financial companies operate in accordance with European legislation, which is trustworthy.
However, the mentioned licenses at UI Group are fake. The company claims to have obtained permits from three regulators: Cyprus Securities and Exchange Commission – license number 257/37 (Cyprus), International Financial Services Commission – license number 95/193/TS/36 (Belize), and the Financial Services Commission of the Republic of Mauritius – license number C 563565357 (Mauritius). However, the registers of these regulators do not confirm the existence of UI Group.
Similar practices are also used by other fraudulent organizations, such as Trust Meridan and Avex Capital. There are numerous negative reviews about them, involving scams of significant amounts of money.
Suspicious Practices and Lack of Transparency
Without a license, a broker is not authorized to trade on real markets, making UI Group’s claims about trading CFDs, indices, stocks, commodities, metals, and cryptocurrencies mere deception. Perhaps, scammers are simply simulating trading to attract clients.
Information about the management and team of the UI Group project remains unknown. According to traders’ feedback, it’s almost impossible to contact support. Support staff instantly ignore traders’ complaints and questions, providing contact details just for formality.
- Email address: [email protected]
- Call back
- Phone: +35722775522
The official website u-i-group.com lacks quality content and user-friendliness. It’s likely that fraudsters do not plan for the long-term existence of the project.
Claims about four years of experience are false. The lack of reviews confirms a small number of real clients, with the first reviews appearing only this month.
The registration of the domain name u-i-group.com indicates the site was launched in 2010. Scammers often use old web resources for their purposes, and UI Group is no exception.
