Ultrabanc Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this Ultrabanc Review.
Ultrabanc is a binary options broker, offering trading in different financial assets on its web-based binaries platform. Unlike most binary options brokers, it offers a single trading account type .
Besides, this broker focuses on training – there are a number of educational articles on its website, as well as the Plus Academy section, intended for both beginners & advanced traders.
Launched in 2015, Ultrabanc website and trademark are owned by Finance Managers Co. Limited, a registered offshore, in Vanuatu. It also operates forex brokerage brand Ubabnk FX.
Binary options brokers have increasingly bad reputation lately, as many of them, especially non-licensed and offshore ones, turn out to be scams. That is why we advise traders to be careful when choosing a brokerage and avoid doing business with offshore companies. Vanuatu, for example, has become a very popular forex and binary options hub due to its low-cost registration procedure and favorable tax regime. The minimum capital requirement for opening a brokerage there is only $2,000. By comparison, CySEC requires at least EUR 730 000 in capital form new brokers, which acts as a deterrent for most scammers.
Trading Options: High/Low, Short-Term, 24 hours, One touch, Double up, Ladder
Assets: Currencies, Stocks, Indices, Commodities
Expiry times: from 60 seconds to weekly
Minimum Initial Deposit
The minimum initial deposit for clients of Ultrabanc is $100, which fits the industry standards. Yet, some brokers require less – Grand Capital, for example, demands just $10.
The payout percentage offered by Ultrabanc ranges from 70% to 75% on classic binary options, which is not very attractive. In comparison, payout percentage offered by Grand Capital reaches 86%.
Ultrabanc uses a simple web-based platform, where traders can trade wide range of binary options in currencies, commodities stocks and indices. It lacks social trading capabilities and charting is very basic.
Unlike many binary options brokers, who offer Welcome bonuses to all their live account holders, with Ultrabanc traders have to invest at least $500, in order to get some extra funds.
Methods of Payment
There are several payment methods available to Ultrabanc’ clients: wire transfer, credit/debit cards, Skrill, Paysafecard, and CashU.
Note that the minimum withdrawal amount is $50 and a commission of $25 per transfer (for withdrawals of amounts up to $2000).
Ultrabanc is a relatively young binary options broker, that is registered offshore and that is the main reason why it is not recommended. On top of that, the payout percentages it provides are not very attractive, and the platform it supports lacks some important features.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
Ultrabanc Review Conclusion
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