Union Trade (uniontrade.io) has been flagged by ASIC (Australia) for "Unlicensed". International Regulator Warning: https://lautorite.qc.ca/en/general-public/media-centre/investor-warnings/investor-warnings-sheet/uniontrade
Phones: +61272574839 This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: uniontrade.io.
Do not use Union Trade (uniontrade.io) for anything serious. I used them for a few weeks now for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Professional team|Economic calendar|Dedicated account manager|No hidden fees
Cons: Limited social trading features|Account statements could be more detailed
Union Trade (uniontrade.io) offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Quick verification|Fast execution
Cons: Onboarding videos are outdated
Union Trade (uniontrade.io) had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Great customer service|Transparent fees
Cons: Email notifications too frequent|Live chat only during business hours
The mobile app from Union Trade (uniontrade.io) is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Dividend tracking|Multi-currency support|Market news feed|Great customer service
Cons: Spreads widen during volatile periods|Some tools only available on higher tiers
After for roughly four months with Union Trade (uniontrade.io) I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Professional team|Great customer service|Tax reports included
Cons: Website design could be more modern
The hidden fees at Union Trade (uniontrade.io) are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Instant funding|Demo account available
Cons: Wait times can be long during peak hours