What is UGAM？
United Global Asset Management (UGAM) is a broker founded in 2001 and based in Vanuatu. UGAM's regulatory status has been stated as revoked by the Vanuatu Financial Services Commission (VFSC).
Pros & Cons
Pros:
Demo Accounts Available: Traders can practice and test their trading strategies using demo accounts provided by UGAM.
MT4 Supported: UGAM supports the MetaTrader 4 (MT4) trading platform, a popular choice among traders for its advanced charting tools, expert advisors, and user-friendly interface.
Cons:
Revoked Regulation: UGAM's regulatory status has been stated as “Revoked” by the Vanuatu Financial Services Commission (VFSC), which will to some extent concern users.
Fixed Leverage: UGAM offers a fixed leverage of 1:200, which may not be suitable for all traders and trading strategies. Fixed leverage limits flexibility and may expose traders to higher risks.
Is UGAM Legit or a Scam？
Regulatory Sight: UGAM was previously regulated by the Vanuatu Financial Services Commission (VFSC) under a Retail Forex License with license number 15028. However, the regulatory status of UGAM has been revoked by the VFSC. This means that UGAM no longer holds a valid license to operate as a regulated entity in Vanuatu.
User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.
Security Measures: So far we haven't found any information about the security measures for this broker.
Market Instruments
UGAM provides Contract-for-Difference (CFD) trading for a variety of financial instruments, including:
Forex: CFDs on major, minor, and exotic currency pairs.
Precious Metals: CFDs on gold, silver, platinum, and other precious metals.
Commodities: CFDs on commodities such as oil, natural gas, agricultural products, and more.
USA Blue Chip Shares: CFDs on shares of major companies listed on US stock exchanges.
Cryptos: CFDs on popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
Leverage
UGAM offers a fixed leverage of 1:200 to its traders and they do not provide other leverage choices. This means that traders can only control positions worth up to 200 times their account balance, which is not quite flexible, since most brokers allow users to switch their leverages.
Trading Platform
UGAM offers its clients access to the MetaTrader 4 platform, a widely recognized and trusted trading platform in the industry. This platform allows users to execute trades, analyze markets, and manage their accounts efficiently. Users have the flexibility to access the platform directly from a web browser, making it convenient for trading on the go.
Additionally, the MetaTrader 4 platform is available for desktop users who prefer a more comprehensive trading experience. It also supports mobile trading, enabling users to trade seamlessly from their Android or iOS devices, providing flexibility and accessibility to the markets anytime, anywhere.
Customer Support
UGAM provides customer support via WhatsApp, email (support@unitedglobalasset.com), and a contact form available on their website. Additionally, UGAM maintains a presence on social media platforms like Facebook and Instagram, where traders can connect with them. The company's address is also provided for any correspondence or inquiries - P.O. Box 1510 Suite 305, Griffith Corporate Centre, Beachmont Kingstown, Saint Vincent and the Grenadines.
Conclusion
UGAM is a broker with fixed leverage, and support on MT4 and demo accounts. However, the regulatory license of UGAM is stated as “Revoked”. We do not recommend users trade with a broker with an abnormal regulation.
Frequently Asked Questions (FAQs)
Question: Can I use a demo account to practice？
Answer: Yes, you can.
Question: Do they support MT4/5？
Answer: Yes, they do support MT4.
Question: Is UGAM regulated or not？
Answer: Yes, it is. However, the license is revoked.
Question: What leverage does UGAM provide？
Answer: UGAM provides a fixed leverage of 1:200.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
