Forex Ukraine Review
Forex Ukraine Review
Forex Ukraine offers two account types that differ by the minimum initial deposit amount required. Otherwise, trading conditions seem the same: leverage up to 1:100, commission-free trading, fixed spreads on the MetaTrader 4 platform. Micro tradeable lots are not available for trade with this broker.
As this broker provides only fixed spreads and there is no ECN trading environment, it is probably one of the many Market Makers on the forex market. Worse still, it is not regulated and actually its spreads are too wide to be tempting. While most fixed spread brokers offer 2 pips spread for the EUR/USD pair (and some even lower), Forex Ukraine’s spread for this pair is fixed at 3 pips.
What is more, we find the minimum initial deposit required a bit too high for a forex broker without a license.
The Company. Security of Funds
Forex Ukraine LLC
Active since 2002, Forex Ukraine is a Ukrainian broker that offers trading in more than 20 currency pairs, index and share CFDs and precious metals on the widely used MetaTrader 4 platform. The company operating the brand is not regulated in Ukraine, nor anywhere else.
We do not recommend investing with non-regulated (and offshore) brokers, because no authority is overseeing their activity and basically their clients have no protection if something goes wrong. You’d better choose among brokers regulated by the FCA, CySEC, ASIC or another reliable regulator.
Forex Ukraine offers its clients the good old MetaTrader 4, available as desktop version and mobile applications.
The MT4 is a perfectly equipped trading terminal with all the tools traders need. It offers ease of use, advanced charting package, technical analysis indicators, back-testing capabilities, different order options, and the chance to create and use automated trading strategies (Expert Advisors).
Methods of Payment
Forex Ukraine offers its clients the following payment modes: credit/debit card, bank wire transfer, Skrill, Qiwi, WebMoney, EasyPay, PayPal, and liqpay.
It looks like Forex Ukraine is another unregulated MT4 forex broker (and supposedly a market maker).
Forex Ukraine Review Conclusion
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