The Union4finance scam guarantees profitable trading on a “world-class platform” and claims to have been in the financial services industry for 10 years, which means it has a lot to offer.
Actually, this money vacuum cleaner was launched in July 2021. Today, the lokhovozka website is no longer working, so investors have nowhere to turn or file a complaint. Why else can you argue that Union4finance is a scam?
What do they offer? Union4finance platform and services
Union4finance has an official website in English and Russian, but only citizens of Russia and the CIS countries are bred by crooks. Positioning itself as a British financial intermediary, Sharashka guarantees transparent execution, professional training and complete security of funds.
The broker focuses the attention of Union4finance users only on trading – there are no investment tariffs here. This is compensated by “bonus programs”, the conditions of which will deprive the client of the opportunity to withdraw money.
Trading terminals and tools
As Union4finance’s site review showed, the pseudo-broker offers two trading terminals. They are called ActTrader and ActWebTrader and, as a rule, are not used by reputable trading companies. But they are found in projects from the same group of scammers – for example, in the scams of Uniontraders, T&C and others.
The site has a section with analytics and training, which is allegedly provided by Union4finance specialists. But in fact, there is nothing there except for basic information that can be found on the Internet.
Terms of trade with Union4finance and withdrawal of funds
Absolutely stupid description of trading accounts on a regular basis wanders from one scam to another. After registering with Union4finance, which requires the provision of a phone number, scammers will demand to replenish the deposit around the clock.
You can open an account with Union4finance using one of the three options below:
- STP – an account for 100 euros, which promises to provide spreads from 0.5 points, leverage up to 1:1000 and the ability to trade currency pairs and indices;
- ECN – for this account, Union4finance already requires 5,000 euros, while at the same time providing clients with spreads from 0.2 points and a leverage of 1:500. Of course, we are not talking about real ECN pricing;
- VIP is a €100,000 account with zero spreads and the ability to trade “all 140 instruments”.
The list of instruments, by the way, as well as their quotes, is not available on the site. The crooks themselves are constantly confused about exactly how many assets are available to traders – sometimes 140, sometimes 200. There are also no details on the page regarding the possible withdrawal of funds from Union4finance.
Legal information about the broker Union4finance and reviews
The scammers claim that they are regulated by the FCA and CySEC, but they do not provide scans of licenses or license numbers. In the register of the regulators themselves, this scam is missing. There is no doubt that Union4finance is a scam that was created to quickly launder money.
The fact that it is impossible to make money on a dummy site is also mentioned in numerous reviews about Union4finance. Users claim that local “analysts” are constantly pushing to increase the deposit, and then drain money on losing trades. No one allows you to withdraw the rest of the funds.