LiteForex review: Regulation, Platforms, Trading Instruments and Broker Ratings.

2.919 • 67 REVIEWS
Updated: Jun 6, 2023

What is LiteForex?

LiteForex EU is a CySEC regulated forex broker, with LiteFinance together forms the LF Global Group. offers platforms available in MetaTrader 4 (MT4), MetaTrader 5 (MT5) and Lite Forex proprietary mobile apps.

Lite Forex offers financial instruments on over 55 forex pairs, metals, oil and stock indexes for your personal investment and trading options.

Please read LiteForex Reviews below and share your live trading experiences with this broker.

Other websites of this company include:,,

Formerly known as
Formerly known as United World Capital,

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 30:1
Minimum to Open Live: $50
Established: 2008
Address: Liteforex (Europe) Ltd 30 Spyrou Kyprianou, 1st Floor, Germasogeia, 4040, Limassol, Cyprus
Contact:, +357-25-750-555
Regional offices:
Regulators: CySEC #093/08
Prohibited countries: Show all >>
Trading platforms: MT4, MT5, MobileTrader (MobileApp)
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

Currencies: (55+)
CFD: (15+) Gold, Silver, Stock Indexes, Oil

Trading Conditions

EAs/Robots: ✅ Yes
News Trading: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

Copy Trading: ✅ Yes
Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill
2.919 • 67 REVIEWS

Traders Reviews

Vilnius, Lithuania,
Mar 15, 2022,
Registered user

Stolen interest rate accrual

Service use: Live Length of use: over 1 Year
I was using this company for over 12 years... They advertise 2.5% annual interest rate credited to the trader's ECN account on surplus funds. Recently I decided to withdraw my funds from that account, but they have stolen all 398.97 USD interest rate accrual through the whole history of my ECN account.
Similar case took place with ECN account of my sister. There has been deducted a total sum of 314.47 USD of interest rate accrual in the ECN account.
Beware of this company and keep your money safe.
dont use this broker
PH, Philippines,
Mar 11, 2021,


Service use: Live Length of use: 6-12 Months
they are charging too much fees to their customers. first they charge too much from deposit. they are charging way too high for converting 1 currency to another. 2nd. when you will withdraw. they will only allow me to withdraw if i use 2 different options. so they can charge me with 2 transaction fees. they wont allow me to withdraw my funds with one transaction . see how greedy this broker? i wont recommend this broker at all.
barcelona, Spain,
Nov 18, 2018,
Registered user

Hi, I was lucky in 2016 when i invested an small quantity with this thieves because they stole to me descarately about 5000 dollars. they always use false acussations ( you can see their scams on forums). Well i was lucky because i went to invest aprox 900000 dollars with them, thanks to god i saw their true face...
If you need real probes about them i can give you without any more interest, only want to show people who are they . Fortunately some people wrote me and gave me thanks for not fall on this criminbals hands
Russian Federation,
Aug 15, 2016,
Registered user

Mayzus may be not perfect brober but very very good. First of all, it's a fair broker. If you deposit money there, then you can be sure they will withdraw it if you request this. Execution is good enough, some delays may be caused by their STP scheme. Of course, their bonus promotions are full ****, however I have never seen any other broker that is willing to provide you his own funds for your trading) In sum, my rate is 4-5
Pavel Garcia
las terrenas, Dominican Republic,
Jul 10, 2016,

Mayzus is excelente brokers... the best
i like the fast wildraw

I recomended mayzus
Shahzad Zahoor
Rawal pindi, Pakistan,
Apr 20, 2016,

Mayzus is a very good broker for me. I'm with this broker from very start of my trading career. As I trade on daily time frame so I never had any issue of re-quotes while placing my order. The withdrawals are also smooth and I don't have to wait long for it. Usually comes within some hours time. Over all I'm satisfied with this broker.
Atif Afzal
Lahore, Pakistan,
Mar 28, 2016,

Mayzus is 5 star for me for some reasons.

Never delay in any withdraw
No issue in normal trading
Always gets help from Live chat
I like their new client cabinet.

And This is what any trader can look in a good broker.
KARACHI, Pakistan,
Mar 22, 2016,

Docy Bruno
Ontario, Canada,
Feb 25, 2016,

Asked them some question about new accounts on Feb. 23rd, agent on chat room asked me to send an email, but never received a reply
kandy, Sri Lanka,
Jun 23, 2015,

This is about their Ramadaan offer. They say they will give 100% bonus on all deposits. Don't deposit money with mayzus. U all going to loose. Because this broker do not consider about customers. They will remove the credit bonus as soon as they want it. Very bad broker, do not trust these guys. Customer service is also terrible.
Jose Antonio
España, Spain,
Jan 21, 2015,

It's horrible, I've found more than 40 errors on the platform, I have two years with it and can not make money they cheat on stop loss and many more things scam scam Total scam, thieves, crooks, I think is the worst that are on the market, do not put your money there, never made money with them.
, Romania,
Oct 19, 2014,

Ok .just did a withdraw last week 7k was on my Visa received the money in 3 days.
5 stars Mayzus

2014-09-27 4StarI am with this broker since the start of 2014,so far so good till now no problems,their support is GREAT i am connected with my acc manager on phone or skype anytime i want and support i get is very good.
I got their bonus also 80% in credit to help and grow my margin and even if their rules say after you get the bonus if your equity will go low and will be at 115% from bonus amount it will be removed,well i was in that situation and they was nice enough to still keep the credit bonus for me and to let me trade with,i got also some money from bonus credit converted in real money in my balance.
I had one withdraw also received in about 4 working days no problem at all.
Of course not all EA's are working on their platform but that's not a problem as manual trading is good.
Satisfied till now with Mayzus and i will still stay with them even if i am with another very known UK broker.
I will keep updated here time to time how things work.
Abu Monsur
Chittagong, Bangladesh,
Jul 7, 2014,

This is one of the 5 brokers I have ever traded with.This is as better as the other 4 brokers.Their support and trading environment are superb.I recommend this broker ,thank you.N.B.Fee on swap free account should be made zero like in some other brokers
, Morocco,
Jun 20, 2014,

they offer 80 percent bonus i did try to make a deposit in my new trading account in mayzus and get the bonus . but by mistake i did deposit in another trading account in my profile .
i did send email in last friday to the support asking if can they transfer the deposit to the new trading account . or send back the deposit to my neteller account i used for deposit . it has been 2 working days till now i never heard from the support they never ansered me . i sent a withrawal request via neteller in friday morning they told in the website withrawals to neteller take from 1 to 4 working hours but it has been 2 working days i never got my withrawal to neteller + the fees when i tried to withraw 480$ to neteller was 9 $ . and still not hear from support and not got my money . now i don't want to trade with them i just want to get my money back .
Algarve, Portugal,
May 20, 2014,
Registered user

They are a fair broker. I registered and started trading quickly, but on the other hand I never got bonuses there.. I cant say I won on big positions. i might come back and trade there again one day.
Jahirul Islam
Dhaka, Bangladesh,
Oct 23, 2013,

Very very nice client support,
Mayzus is a clean broker who will help you to make profit.
Instant deposit.I really like this broker.their bonus is awesome.
Best of luck Mayzus......
tabinda sharif
karachi, Pakistan,
Oct 18, 2013,

My name is Tabinda sharif i am working with mayzus from last 4 years i found mayzus very good they are working properly according to the forex market.they are best i am very happy that i am mayzus client.all services of mayzus are good deposit and withdraw and live support ,every where i found mayzus best best and very best.the uwc quick card service is good wihtin 4 working hours you got your money in your account.over all those who are saying that the mayzus is scam i am saying for them that they have no wxperience with the mayzus.over all mayzus is good forex broker i like mayzus.
thanks mayzus.
India, India,
Jul 29, 2013,

Don't join this broker
they are scam

they will not give you withdrawal
this promotion is just to collect money from clients
they are big scammers
i had an account with them first everything was ok bcoz i was in loss and when i earned some

money and made withdrawal request they didn't processed my withdrawal

they say that they process withdrawals within 1-4 hours
but i have been waiting for days and they didn't send me money

i contact their customer support many time but none of them helped me
when i ask them for my withdrawal via live chat their customer support person stop

responding me they don't replied

they are robbing traders

this is my personal experince with them so i want to alert you all about this so that you

never face problem like me and keep your money safe

Don't join mayzus
sahib ur rehman
pakistan, Pakistan,
Jul 16, 2013,

the mayzus is not giving the forum bonus to the pakistani clients
Indonesia, Indonesia,
Jun 2, 2013,

They are stoploss hunter,just stay away if you like to have a pending order.. My trade dont even touch the price when i looked at it.. Its already loss.. Lucky me its a demo... i ont know its scam or not but just stay away..
ibrahim yohann
kaduna, Nigeria,
May 28, 2013,


2013-04-25 1Star i deposit in to my account via liberty reserve through my trader profile on 24/04/2013 after which i could not find the amount in my account i contacted mayzus through live chat,the staff confirm the transaction and told my that the transaction was confirm that i should contact the finance department the next they deny everything after i mail them the transaction statement from liberty reserve

2010-08-22 4Star thank GOD for the broker,as a beginner i learn allot about trading through them.thank you fpa and uwc
Maria Z.
Toronto, Canada,
Nov 25, 2012,

I've been trading with this broker for over 3 years now. They've improved a lot: added new instruments, trading platforms, always have bonuses and championships. I am absolutely happy with orders execution and the way they handle my funds - never experienced a single problem with deposit or withdrawal. I ordered their Quick Card (Mastercard) that conducts all transactions instantly, so I have my profits available practically right away.
Tech. support is also very helpful, whenever I have questions about new platforms + they work around the clock.
Will recommend this broker for sure.
Shovon Joarder
Dhaka, Bangladesh,
Jul 7, 2012,

I'm using UWCFX service since Feb'12, and this is the first broker I'm using for my trading. I thought, it might not enough time to justify a brokers/ company's overall service. When I go through all the reviews and found few who gave ratings & comments with their one month or less experience, I also feel that I must share my experience, otherwise it might possible for a reasonably good company to get a negative image.

First I opened a demo account with UWCFX, learn the trading and various techniques and open a lite account with very small deposit. Yes, I lose many small amount of deposits and I accept the loss as the cost of my learning. In the meantime, I also got $100 bonus from the broker and also lost the balance while trading. All these are my trading mistakes as I was in the process of learning.

In June, I deposited $1200 and make a very handsome profit of $1700 during the whole month trading and my balance was $2399 on 29th June. In the meantime, I withdraw $350 using through UWCFX debit card and also transfer $225 to one of my referral. Unfortunately I lost the whole balance due to major & sudden upward fluctuation in the market on 29th (last working day fo the month) for some unusual market condition. For this loss, I must not blame the trader as it was my fault because I ignore some trading principles. Making more than 100% profit is definitely not a normal trading technique although my trading style is based on scalping. After the loss, last week I again deposited $1500 to my trading account and try not to repeat my fault (not putting stop loss on every trade). With these experience, I've below observations:

1. I've executed total 216 trades in whole month and didn't face any difficulty while execution;
2. I faced re-quote problem when the market is extremely volatile;
3. TP and SL works very effectively;
4. Open trade modification can be done very smoothly even in volatile market condition;
5. Experience literally great customer service from them over live support and also through e-mail communication. Note. I always use to communicate with dedicated account manager for any support needed.
6. I withdraw $350 directly from my trading account to debit card, which was completed within 2 hour and I withdraw cash from one of my country's local back ATM machine on next hour.

I appreciate with Graeme Little that, if you only look for bonus from a broker, than you are a gambler more than a trader. You'll lose money if you really don't know the real depth of this trading. And for losing money, you cannot blame a broker.

Server problem may also can happen, as no online base service provider can guarantee every second 100% guaranteed service, no matter how reputed the broker is! And so, you've to be prepared for such re-quote problems, but the difference create on frequency of occurrence. And, my experience with UWCFX of this kind of problem for hardly 4/5 times and that's also when the market is extremely volatile condition.

My recommendation for this broker is really good and satisfactory. I must not compare with other broker as I didn't try any other broker till now.
, Egypt,
Jun 24, 2012,

hi all, this broker is the worst in industry,stoploss hunting,requotes that never ends (by the way you'll never get any requotes as long as you lose but once your account begins to increase steadily you'll never be able to get a deal without tens of requotes,although they do not delay withdrawals and always pay money but the trading with them is like entering a war
as for egypt branch they are the most unexperienced staff,they get deposits from clients in a personal bank account for a guy called nicolas khattab which is for sure considered a violation, many clients deposited in this way and instead of getting their money deposited they get it as credit and bonus which means the guy is getting the cash and granting bonus and credit instead of it
, India,
May 15, 2012,

they hunt stoplosses, if your sl is near 3-4 points away from current market, they move spread dramatically and close your position. Beware.Stay away.
tabinda mushtaq
karachi, Pakistan,
May 8, 2012,

I'd been using this broker since 10/2010. i'd had many withdrawals without any problem . My experience is good, live support is very good ,this broker is very good then others.
thanks uwcfx.

2011-02-22 5 Stars i have been with this broker from last six months i have two accounts and i am working on both accounts at same time,i have no problem at all ,very good broker,every thing is fine,before UWCFX i use more then 5 brokers but i face lot of problem,and now i am enjoying the trades,deposit and withdrawal system very easy and the live supporter are very polite.i gave them 5 star.
May 5, 2012,

UWCFX were the first brokers I joined and thereafter I had joined many brokers but none of them are as good as UWCFX and infact are not even close to it.

The services UWCFX provides , the technical support , the client cabinet and other promotions provided by UWCFX is the best as compared to other brokers.The prices in the Meta trader are same when you watch Bloomberg USA Live.

So I want to say that there is no other broker which can even be compared with UWCFX and they are the best in the field so far.
George Jacob
india, India,
May 1, 2012,

I have been trading with United World Capital since 2 years now. In the starting when i joined i was not having much knowledge about the Forex and i started my journey into Forex with them.

Since then i have tried many brokers but i did not find anyone close to UWCFX.

When trading i usually watch the Bloom Berg channel and see the Live news. The rates that i see in the Bloom Berg US were the same that i see in UWC Trader.

I can see all my accounts in their cabinet and never had any problems with regards to withdrawal of Profits.

Their Customer Service is Excellent and always on Time.

They have all the answers.
Sedpre Stifler
, Philippines,
Apr 10, 2012,

@Kalavant Singh - Customer support service (Chat support) are aimed to guide and resolve issues as much as they can. However, since your problem needs further discussion, the agent must have probably suggested you to go through e-mail as every details you need and vice versa can be accessible and clearly visible.
kalavant singh
india, India,
Feb 12, 2012,

Hello everyone

think before you join and promote this broker.
they cut balance from my affiliate account 2 times
previously last year and once again this month
i also posted thread about my last balance prob here on FPA

and once again it happened

and their customer support didnot solving my prob.

so think before you join this broker

this is last message when i asked that i will check statement and findout this

Kris Antoniewski | 14:28

Unless there is anything else I can do at this moment I shall leave this chat. If you require any further information about the commission please email us at, same if you have any other comments."
Graeme Little
Queensland, Australia,
Nov 30, 2011,

I have been trading with UWC since 22nd March 2011. My account has grown from $500 initial deposit to $4000 from trading. I have not had any problem with requotes until recently when I started trading with 1.0 full lot. In a fast market, on a market order, larger lot sizes may not be filled immediately. If I place pending orders, they are filled without requotes.
I also use their iPhone App called iTrader and there was a problem when the iPhone was upgraded to iOS 5.0 I contacted live support and they were excellent in their service. They even emailed me twice with updates as the App took about 2 weeks to be updated by Apple.
I use their Debit Card for withdrawals and any deposits by Debit Card have been instantly credited to my account.
I receive deposit bonuses but quite frankly they only serve to increase my margin and allow me to trade with higher lot sizes. So effectively, I am using their money to earn profits. As far as withdrawing bonuses, I don't really care about it. I do not expect free money. The money I receive is from my trading.
Seriously, if you opened an account with the purpose of receiving free bonuses, then you are not a trader, but a gambler. If you can't grow your account by trading activity alone then you need to learn how to trade. My suggestion is to trade with .01 lots or 10c per pip until you can prove to yourself that you can make consistent profits measured in pips. I did not increase my trading lot size until I had earned 20,000 pips profit. That is $2,000 at 10c/pip. Then you will trade with confidence in your ability and you will stop expecting UWC to give you free bonuses for doing nothing.
My overall experience with UWC has been outstanding.
Sep 5, 2011,

as said by alex the speed of execution is often slow but no problem with sl and tp. I've made a withdraw with moneybookers without problem.For me it's a decent broker.
Cristian Fernández
Jun 21, 2011,

A month ago, I contact with UWCFX support because requotes and / or slippages happen constantly. But I discovered something much worse, see the next evidence:

2011.05.11 20:55:44 '19803': order #943929 sell 0.18 EURUSD at 1.4211 sl: 1.4244 tp: 1.4161 closed at price 1.4209
2011.05.11 20:55:40 '19803': request in process
2011.05.11 20:55:40 '19803': request was accepted by server
2011.05.11 20:55:39 '19803': close order #943929 sell 0.18 EURUSD at 1.4211 sl: 1.4244 tp: 1.4161 at price 1.4209

2011.05.11 20:55:33 '19803': requote 1.4208 / 1.4211 for order #943929 sell 0.18 EURUSD closing at 1.4210
2011.05.11 20:55:28 '19803': request in process
2011.05.11 20:55:28 '19803': request was accepted by server
2011.05.11 20:55:27 '19803': close order #943929 sell 0.18 EURUSD at 1.4211 sl: 1.4244 tp: 1.4161 at price 1.4210

2011.05.11 20:55:15 '19803': requote 1.4209 / 1.4212 for order #943929 sell 0.18 EURUSD closing at 1.4210
2011.05.11 20:55:09 '19803': request in process
2011.05.11 20:55:08 '19803': request was accepted by server
2011.05.11 20:55:08 '19803': close order #943929 sell 0.18 EURUSD at 1.4211 sl: 1.4244 tp: 1.4161 at price 1.4210

2011.05.11 20:40:55 '19803': requote 1.4203 / 1.4206 for order #943929 sell 0.18 EURUSD closing at 1.4205
2011.05.11 20:40:52 '19803': request in process
2011.05.11 20:40:45 '19803': request was accepted by server
2011.05.11 20:40:45 '19803': close order #943929 sell 0.18 EURUSD at 1.4211 sl: 1.4244 tp: 1.4161 at price 1.4205

2011.05.11 20:37:14 '19803': requote 1.4203 / 1.4206 for order #943929 sell 0.18 EURUSD closing at 1.4204
2011.05.11 20:37:01 '19803': request in process
2011.05.11 20:37:01 '19803': request was accepted by server
2011.05.11 20:37:00 '19803': close order #943929 sell 0.18 EURUSD at 1.4211 sl: 1.4244 tp: 1.4161 at price 1.4204

2011.05.11 20:36:01 '19803': requote 1.4202 / 1.4205 for order #943929 sell 0.18 EURUSD closing at 1.4204
2011.05.11 20:35:44 '19803': request in process
2011.05.11 20:35:44 '19803': request was accepted by server
2011.05.11 20:35:44 '19803': close order #943929 sell 0.18 EURUSD at 1.4211 sl: 1.4244 tp: 1.4161 at price 1.4204

The trades are arranged in reverse order of time, watch the first case, I ordered the closing of the order 943929 (by hand, to the specified price in the platform) at 20:35:44 and was accepted by the UWCFX server immediately, on the same second, but waited 17 seconds!! to send a requote at 20:36:01, what happened, and spent in each subsequent attempts, is that UWCFX are using a program or plug-in to wait for the next tick, if the next tick is in my favor, then the program or plug-in send requote to me, if next tick is against me, then the trade is made, as happened at 20:55:44.

Ok, it's clear, and after my complaint, UWCFX stopped it (at least on my account), but today I see the same pattern:

2011.06.22 16:14:05 '19803': order #992525 sell 0.20 EURCHF at 1.2069 sl: 1.2139 tp: 1.1999 closed at price 1.2070
2011.06.22 16:14:02 '19803': request in process
2011.06.22 16:14:01 '19803': request was accepted by server
2011.06.22 16:14:01 '19803': close order #992525 sell 0.20 EURCHF at 1.2069 sl: 1.2139 tp: 1.1999 at price 1.2070

2011.06.22 16:13:57 '19803': requote 1.2067 / 1.2070 for order #992525 sell 0.20 EURCHF closing at 1.2068
2011.06.22 16:13:47 '19803': request in process
2011.06.22 16:13:45 '19803': request was accepted by server
2011.06.22 16:13:45 '19803': close order #992525 sell 0.20 EURCHF at 1.2069 sl: 1.2139 tp: 1.1999 at price 1.2068

2011.06.22 16:13:43 '19803': requote 1.2065 / 1.2068 for order #992525 sell 0.20 EURCHF closing at 1.2066
2011.06.22 16:13:39 '19803': request in process
2011.06.22 16:13:39 '19803': request was accepted by server
2011.06.22 16:13:39 '19803': close order #992525 sell 0.20 EURCHF at 1.2069 sl: 1.2139 tp: 1.1999 at price 1.2066

I was warning to UWCFX that if this behavior continued, I will present the evidence to warn current and future UWCFX customers. This is a clear unethical behavior.
Apr 25, 2011,

In overall, this broker is fair. Started my business with tis company at the end of January by receiving a $100 bonus from them. Have made several withdrawals through moneybookers absolutely without any problems. Have ordered their Quick card. It had arrived in three weeks and until now works well. The main issues I begin to experience right now are:

1. Increased spreads. For example, for eur/usd it is 3-4 points during the most part of the day. Sometimes the spread for this pair drops to 1-2 points, but, as it is said, it happens only sometimes. For comparison, at the begining of my journey with them the spread for eur/usd was 0-2 points.

2. The quality of execution has fallen dramatically. I do not think it is an attack on me from their side in order to rip off my profits or smth like that. It is obvious for me that they experience some technical problems with the execution. Maybe servers are too slow, maybe they just lack liquidity providers... The truth is somewhere there. The stop losses and take profits work well. The issue with the execution arises only when you manualy entering or exiting the market.

In general, this broker can be used for trading. I really like their deposit/withdrawal system - it is really great! Customer service is good enough, but sometimes you really feel alone while chatting with them.

That's all for now!
juan mesa
medellin, colombia,
Apr 24, 2011,

Hi everyone.

I'd been use this broker since 11/2010. i'd had many withdrawals without any problem by the way of Moneybookers. I just had somo problems with a bonus program but it was solved in less than a week.

i just read many post here, and i believe that all the people lost many money with UWC. In my case i had win more than 2000usd without any administartive problem.

My experience is good, i recommend to trade UWC by deposit less than 500usd. if you want to invest more, please search a top broker.

Thanks, and i hope that this review will be important for other traders.
Alex Boldeanu
Limassol Cyprus,
Apr 20, 2011,

Hello everyone
first of all i apologize for the late reaction.
If any of you read the "TRADING CREDIT POLICY" which is available on our website since the changes were made, you will find there at the section 2 od the document the following:
2.1 The Trading Credit decreases proportionally to the amount(s) the Client withdraws from his Trading Account. To calculate the exact decrease amount, all the Client's deposits will be added up and the total amount of sums withdrawn from his Trading Account will be subtracted. The result of this calculation equals to 100%. After this, a percentage ratio of the upcoming withdrawal from the Trading Account against the previous result will be calculated. This ratio equals to the amount of the Trading Credit decrease. If the total sum of Trading Account withdrawals exceeds the total sum of deposits, the Trading Credit gets completely charged-off (nullified).
2.2 If the Client's Trading Account has been credited with the Welcome Bonus or any other Trading Credit (Bonus) not related to funds deposited by the Client during the Company's bonus programs (campaigns), and if the Client withdraws funds from his Trading Account to which such Trading Credit (Bonus) applies, the Company charges a one-
Anil Kumar
Apr 18, 2011,

I've made $130 withdraw but still haven't been paid. Its over a week now. I've contacted them via mail but no response. Terrible live support. They just don't know English. I've read here they are scammers. maybe i just got scammed. lets wait for a couple of days more and i'll categorise them a scammers too.
Sergey Mayzus
Limassol, Cyprus,
Apr 11, 2011,

Regarding USA clients of UWCFX: We have discontinued acceptance of the US clients and closed all of the accounts of the US clients as per new requirements of CFTC prohibiting opening an accounts for the US clients who are non-ECP. Please ask your questions to CFTC directly - WHY THEY BLACKMAIL FOREIGN BROKERS WHO ARE NON-US-REGULATED...

Regarding BONUSES: On April 4, 2011 we have applied new Trading Credit Policy which have been made available for public review on 25th of March 2011. As per today, we discovered an error in the clause 2.3(D) in accordance with wich the profit of traders was charged-off with the bonus provided. Che clause 2.3(D) of Trading Credit Policy has been VOIDED (cancelled) and all the profits charged-off in accordance with this clause has been REVERSED.
South Europe,
Apr 11, 2011,

I took the promotional $100 bonus that this broker had and tested some EAs and some manual strategies.

The account had a balance of more than $180, when they brought it down to zero. After asking their support what was the reason that they did it, they told me the story with the email describing the changes. I checked my emails and saw that I received this tricky email on the 29th of March! The title of the email is Upcoming Bonuses and Promotions at UWCFX.
In the email is not mentioned ANYTHING about a change for the customers with existing bonuses. Even at this very moment, 11/04/2011 GMT 16.06, the link of that email (http://http/ is not working. They are probably revising the terms, because somebody made money on the bonus

These people are NOT PROFESSIONALS!

Look at this link:
Free Forex Account Management Courses

I did a live chat about it and nobody knew anything about it. I then exchanged emails with some people from there, but there was still nobody to give me more information on it. I am still waiting for their representative to answer to the thread!

VERY VERY Cheap Bucket Shop.

It is clear for me that their number one rule is "No Profitable Traders Allowed"
Ion Manda
Apr 7, 2011,

UWC cut my bonus*2 without any warning !!! - Today, 08:07 AM
UWC cut my bonus * 2 !!! I lost $40 from my trading account because of changing the rules by UWC !!!

This is the email I got from UWC:

"Hello , dear Ion Manda

According to New Credit Policy [url][/url] your credit bonus has been deducted from your trade balance

Best regards,
Back Office Department
United World Capital Limited"

04/08/2011 RESPONSE

07/04/11 18:18 why did you cut $ 40 from my trading account? Ion Manda
08/04/11 13:31 Dear Unfortunately, the system needed to deduct your trading bonus credit of $20 accompanied by the same deduction from your account balance because you have not funded your trading account within 30 calendar days from receiving your bonus from us. The system has performed such activity automatically accordingly to the Trading Credit Policy, point 2.3 available on our website [url][/url] Kind regards, Kris Antoniewski United World Capital Kris Antoniewski

But I told you, I lost the bonus*2 !!!

Thisi is a part of my Statement:

1021536 2011.04.06 00:00 credit CRDO-23-AUTO(D), value date: 2011.04.06 -20.00
1021538 2011.04.06 00:00 balance WDRW-CO-1021536 -20.00

And they don't told me BEFORE !!!
They have this message on their site:
"United World Capital takes all reasonable steps to obtain the best possible results for its customers, taking into consideration all execution factors such as financial instruments, costs, speed, probability of execution and payment, size/nature of order, etc." SO, they would have let me know before about the possibility of losing my money !!!

Please Help me,
Thank you,
Ion Manda

07/04/11 18:18 why did you cut $ 40 from my trading account? Ion Manda
08/04/11 13:31 Dear Unfortunately, the system needed to deduct your trading bonus credit of $20 accompanied by the same deduction from your account balance because you have not funded your trading account within 30 calendar days from receiving your bonus from us. The system has performed such activity automatically accordingly to the Trading Credit Policy, point 2.3 available on our website [url][/url] Kind regards, Kris Antoniewski United World Capital Kris Antoniewski

08/04/11 13:47 You MUST let me know before! It is a vital event for my account! There is no excuse that the system has cut my money automatically! I should like you to follow a code of conduct, a code of good practice! It is not enough that you have published regulations on the site - that you had informed investors! This is not an application, it is a complaint! I will make official complains now !

08/04/11 14:07 Dear Ms Ion Manda

United World Capital has released the Trading Credit Policy on the March 25th, which covers issuing, charge-off, usage and granting of trading credits (bonuses) notifying that herein mentioned policy comes into effect on Monday, 4 April 2011.

An automatic email has been sent as well to all of our clients on the march 29th regarding our new Bonus program followed by the information regarding the Trading Credit Policy.

Kind regards, Kris Antoniewski
United World Capital Kris Antoniewski

08/04/11 14:52 That was NOT enought ! Regulation is abusive ! CLIENT NO LONGER HAS ANY RIGHT ! Only an idiot would put money in your company.
08/04/11 14:56 And about the email at 29th - this is the text : "You can already read the Trading Credit Policy we released for the upcoming Bonus Program and which comes into effect on 4th April 2011." YOU CAN READ ...!!! It is understood that talks about the bonus, no major changes in trading conditions!!! SHAME ON YOU !

08/04/11 15:25 Dear Ms Ion Manda,

"You can already read the Trading Credit Policy we released for the upcoming Bonus Program and which comes into effect on 4th April 2011. When you open a trading credit policy the first sentence is : This Trading credit policy comes into effect as of 4 April 2011, and applies to all Trading Credits and Bonuses issued PRIOR to our following the aforementioned date. We sent you a e-mail with the link to our trading credit policy.

Kind regards,
Madara Sausina
United World Capital Limited Madara Sausina
08/04/11 15:33 When you open a trading credit policy the firs...I am an existing client ! I don't open a trading account now !!! I want an answer to the question on a code of conduct. ONCE AGAIN - SHAME ON YOU ! Ion Manda
08/04/11 15:44 Dear Ms Ion Manda,

In the e-mail what we sent to all existing clients , there is link to the Trading Credit Policy. In this policy you can see all the terms about existing and new bonuses.

Kind regards,
Madara Sausina
United World Capital Limited Madara Sausina
James M.
Toronto, Canada,
Apr 6, 2011,

Scam, If you believe you can make money with this broker as with any other bucket shop, I have a bridge to sell you in downtown New York lol . I signed up for their "free deposit promotion" and went through all the hassle of account verification with them since, I was looking for an additional broker for one of my strategies. Here are my observations, they do not have a variable spread, actually their spread is variable but it goes like this: 2,3,4 pips in fairly quick succession over and over again, in other words "a true" STP broker" lol. With that knowledge, I traded one of my breakout strategies that averages 120 pips profit on winning positions, implemented proper position sizing and was able to make 30% on the "free deposit money" within a month, while I was watching them to see, if I should deposit any money with them, all of my entries were done with pending orders with predefined exit and take profit levels to prevent any "monkey business" with market orders. I did not trade every day since, I have real accounts to take care of, however 2-3 times a week, I would go in and place the orders. To my "surprise" the last time I went into the account all the money was gone, initial "free deposit" and the profits. I went into the account history and noticed that the "free deposit" was removed from the account as credit which have been revoked and profits were withdrawn - by whom? I don't know, since it wasn't me. I went and logged onto my account on their website and noticed it was same thing there - "credit was revoked and profits withdrawn" so I went on live chat with them and communicated with some guy called Dimitri which basically told me that they have recently changed their "credit policy" and that was the reason they removed my "free deposit credit", I asked him about the profits then, all of a sudden I was disconnected from chat and when it reconnected I was getting no replies from Dimitri or any one else, I went on with my day, knowing that the best thing I have done, is not putting any real money with these people.
You will have better chances and more fun at the casino, even though in the end you will still loose, just like in most casinos they will try to entice you with a few free chips knowing very well that in a few minutes you will be running for an ATM machine which they conveniently placed on every corner, at least casinos, unlike bucket shops do not call their patrons "investors". "Suckers" is much better word.
Ovidiu Racorean
Apr 5, 2011,

Scam broker. They took my money out of my account. They had stolen my money. I worked along the time with many brokers but I never saw this before.
I read some of other reviews here but...I must say some are lies. UWC will never let you withdraw profits from them. Not even the profits you made with the bonus.
I strongly recomand to all fellow traders to avoid this company .
Apr 4, 2011,

This is the worst broker. They trade against their clients.(Conflict of Interest - Read their T/C. It is not highlighted. They attract new traders with Bonuses that you will never be able to withdraw. EVERYONE, PLEASE AVOID THIS BROKER. TRUE SCAM.
Mar 24, 2011,

Middle of February, without ANY warning whatsoever, they gave the boot to all American residents. Tried to log in one morning, and was locked out of my acct. Live chat was pointless, like something out of an Abbott and Costello Who's on First routine...

They blamed the abrupt and warningless forced exile on Cysec. However, i have other brokers regulated by Cysec who're still quite able to take US clients...

The one bright spot was one of their office girls, Krassi. She worked diligently to get my funds returned.

Overall, i have to seriously question the attempt at anything even approaching customer service on the part of the decisionmakers at this firm. Not many would stay in business long with that kind of outlook toward customers.

Forewarned is forearmed....
parjo parjo
Feb 23, 2011,

This is my true opinion about UWCFX,

1. I got new year bonus credit $100, then i use for trading after almost one month with profitable result. I know terms of new year bonus credit $100, my profit can be withdraw after my trading volume reach 5 standard lot or more...
Yesterday i made request for withdrawal some my profit $126, because total my trading volume already 5.76 standard lot.
Today i receive my $126 withdrawal using webmoney within 24 hours since withdrawal request.

2. About Customer Support, they are good always answer my question, usually i use live chat or email. So far they are very care and give best attention to customer like me.

3. UWCFX Metatrader Platform is the best. Never have requotes every i open or close position. I get the same price when i click order. What price i click that i get. Very nice service.

I dont know if any other trader like me have some problem.
I think before we blame or make bad opinion, better to read back and understand terms and condition or service condition of company in their website.

For me UWCFX is best forex broker. I give 4 star satisfied.
David Karanu
Feb 17, 2011,

So Far they seem ok..although the customer support when logged in is really poor.
They credited my acc. with the $100 from OKPAY initially.
I also deposited and they refunded the wire expenses.
Feb 8, 2011,

They have very bad, terrible, and not competence customer service once you put money you will difficulty when you wan to take it much, because they will not process your verification fast. They will avoid to verify you account even though you already provide the legal and original scanned documents like passport/id card and bank statement.

Just be careful with them
Thoriq Imamulloh
Feb 4, 2011,

Many people who are too short to assess the legality of the broker. They are so easy to say scam against brokers, judging from a very narrow perspective.
For example, FAQ or rules that they never read and if it does not fit with what they think, they'll say the broker is a scam and that's not necessarily true. another example, a bonus program which requires for withdrawal is after completing 5 lots, but before they finished to 5 lots, they tried to withdraw their profit, but it is not possible and they think the broker is a scam and I think it is a foolish conclusion.
For example again, if there is a difference chart (spikes) and their trading losses and they are always looking for an excuse to say that the broker is a scam.
I started trading since late 2008 and has been trying to broker a lot, but for me UWCFX is that I think is most comfortable, trusted broker by regulatory environment on more of the country in euro. It make my trading more Safety and reliability.
I use UWCFX been since early 2010 and was never a problem occurs. withdrawal process is also very smooth. In the office working hours approximately 2 hours.
Jan 29, 2011,

Their support is very bad: any reaction on my messages I've sent them, live support always inaccessible. Try to get $100 promotion bonus, but for Your real money choose another broker.
muhammad ali
Jan 25, 2011,

dear friends i want to tell you about the uwcfx,plz dont try it its pure scammed once you get in you will not get out ,they hang you,and one more thing there live support is very bad like a turtle,and platform is very bad so be careful to this is very very very very bad.

2011-01-13 1 star avoid this broker pure scam,they are basterd,live support is very bad,the staff have no idea what they are talking,they call you in the starting for open an account after that no calls,they hang you,so plz becareful.

2010-11-21 1 star i have been with this broker from last 3 three starting there plateform working very good ,but after 2 months i feel some problem during place an order my ,it takes more then 25 seconds and slipage for 25 pips when they accept my order my trade show the $25 loss at starting,so please becare ful to use this broker,i am not saying that they are scamer but take your own decesion when open an account.
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