Union Transfer Inc has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Note: The above entity is also on the cold calling blacklist for the NZ Securities Commission: http://www.seccom.govt.nz/invest/overseas-brokers3.shtml
Phones: 1 212 401 6220, fax 1 206 600 6553 (1 212 401 6243)
Addresses: 469 7th Avenue New York NY 10018 USA This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.uniontransferinc.com.
The platform itself is okay, but the customer service at Union Transfer Inc is truly awful. I waited weeks for a response to a simple inquiry. When they did respond, it felt like a generic template that did not address my specific issue at all.
Pros: Tax reports included|Good mobile app
Cons: Account statements could be more detailed|Help articles are sometimes vague
My withdrawal request from Union Transfer Inc has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: Copy trading available|Transparent fees|Market news feed
Cons: Onboarding videos are outdated|Research section could be deeper
I found Union Transfer Inc after my brother mentioned them and the initial impression was positive. But for about three months later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.
Pros: Economic calendar|Competitive fees|Social trading features|Fast deposits
Cons: Currency conversion fee exists
The onboarding at Union Transfer Inc was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Clear documentation|Regular updates
Cons: Account statements could be more detailed
The hidden fees at Union Transfer Inc 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: Good analytical tools|Real-time alerts|Great customer service|Fast deposits
Cons: Cannot customize dashboard fully|Some tools only available on higher tiers
Do not use Union Transfer Inc for anything serious. I used them for roughly four months 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: Stable platform|Tax reports included|API access|Copy trading available
Cons: Some tools only available on higher tiers
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Union Transfer Inc recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Segregated accounts|Multi-currency support|Automated trading options
Cons: Help articles are sometimes vague
The so-called education at Union Transfer Inc is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted for roughly four months thinking they would help me learn.
Pros: Fast support response|Social trading features|Low minimum deposit
Cons: Cannot customize dashboard fully
After spending for over a year trying to make Union Transfer Inc work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Automated trading options|Intuitive for beginners|Excellent charting|Smooth onboarding
Cons: Desktop app not available on Linux|Limited cryptocurrency options
I closed a profitable position at Union Transfer Inc and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: Low minimum deposit|Excellent charting|Multi-currency support
Cons: Mobile app could be improved