ANSWER UAGTrade is not a reliable broker even though it offers seemingly attractive deals. UAGTrade claims to be incorporated in the United Arab Emirates as a Financial Company with the registration number AFZ/OS/1454. However, we did not find any matching results to UAGTrade in the Central Bank of the United Arab Emirates (CBUAE). That means what this broker claims about the regulatory status is a false statement to unsuspecting investors. In addition, UAGTrade also claims to have a registered office in Kingstown, St. Vincent and the Grenadines, but our search for it in St. Vincent and the Grenadines Financial Services Authority (SVG FSA) did not yield any results.Regarding your question, UAGTrade is not reliable. Entrusting this broker to control and hold your funds or trading with it is very risky, as there are no safeguards in place to prevent fraud or theft. Therefore, we strongly suggest avoiding unlicensed brokers like UAGTrade and choosing fully regulated ones instead.
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