UK Clearing House Review Is It Legit Or Scam

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UK Clearing House Review: Is It Legit Or Scam?

UK Clearing House Review: this is the name of a Forex broker that is located in London, United Kingdom. Is ukclearinghouselimited.com a scam Forex broker?

This broker was established in 2020 and claims to be based in the UK. We are aware that all UK based Forex brokers are under the jurisdiction of the Financial Conduct Authority (FCA). Any Forex broker in this region must have a license issued by this authority to be deemed as legit. When we checked the register of the FCA, we found the company that owns the broker there.

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This proves that the Forex broker is not illegitimate. Further, since there exists a regulatory commission supervising UK Clearing House, clients can be rest assured. Funds that are invested would be traded within the conditions the broker outlines. Any misconduct will be looked into by the authority above.

UK Clearing House also known as UKCH, offers many impressive trading assets as we find on the page. There is no demo account offered however, for clients to test their claims out. Their trading platform is said to be user-friendly and easy to use.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

UK Clearing House Trading Platform

UK Clearing House offers traders the MetaTrader 4 trading platform. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are: Forex currencies, CFDs on precious metals, crude oil, Brent and major indices. We find that it does not offer crypto option to clients. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

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Maximum leverages offered is 1:30 and this may not seem generous but is quite good. This is because higher leverage may pose more risk to funds. The spreads on the EURUSD is not provided.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on UK Clearing House

We do not find many options provided for making payments and withdrawals on the website. The missing e-Wallet option is a worrying sign.

This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

Minimum deposit required is not mentioned making it difficult to know if it is within the obtainable average of $100 – $250 among brokers or not. Withdrawal charges are not stated for this broker. Sometimes it is better to mention if they apply or not. We do not even find any terms and conditions; this is a shady thing. Traders are expected to sign up for something with unclear conditions.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is UK Clearing House Licensed?

Yes. UK Clearing House is duly licensed by the Financial Conduct Authority of the United Kingdom. It is wise to trade with brokers that have a license from these kind of commission.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

There is a “Contact Us” link on the website that allows a trader wanting to make inquiries to send a message.

Conclusion

UK Clearing House is a licensed Forex broker; this makes it likely that we give it a high rating. Some of the conditions we found are also good like the trading assets and the trading platform. However, there are some details that are missing on the broker that we would prefer to be made known to better inform the decision of traders.

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Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

UK Clearing House review – Is ukclearinghouselimited.com scam or good forex broker?

UK Clearing House is a London based forex broker offering a variety of currency pairs and other CFDs. The broker is regulated by the UK Financial Conduct Authority (FCA) and is authorized to offer financial services in all the countries of the European Economic Area (EEA) – the EU member states plus Iceland, Norway and Liechtenstein. Here are some details about their offer.

Account type Min. deposit Max. leverage Spread s
Standard Account n/a 1:30 n/a

UK Clearing House Advantages:

UK Clearing House and the company behind it, UK Clearing House Limited have been regulated by the Financial Conduct Authority (FCA) in the UK since 2020. That gives the broker credibility and ensures that all traders funds will be handled properly. Here you may take a look at the UK Clearing House license:

FCA oversees nearly 80 000 financial companies in the UK and is one of the best trusted regulators in the forex industry. And as we already mentioned a FCA license gives the broker the right to operate in all EU countries, as well as Iceland, Norway and Liechtenstein. (We have to wait and see if that will apply in the case of a no deal Brexit.)

All FCA brokers are bound to adhere to strict rules, among which to maintain at all times a minimum operational capital of at least 730 000 EUR, to provide their clients with a negative balance protection, meaning that no one can lose more money than he or she has deposited, to keep all traders funds in a segregated, protected from creditors, trust account, to file regular reports, to allow external audits and to insure each trading account for up to 85 000 GBP through a specially designed client compensation scheme.

So here you may check as well our list of brokers regulated in the UK:

Good selection of trading instruments

UK Clearing House offers a variety of forex pairs among which USD/JPY, EUR/JPY, EUR/USD, AUD/JPY, NZD/JPY, GBP/JPY,CHF/JPY, CAD/JPY, GBP/USD, ZAR/JPY, AUD/USD, NZD/USD, CNH/JPY, HKD/JPY, EUR/GBP, EUR/AUD, USD/CHF, EUR/CHF, GBP/CHF, AUD/CHF, CAD/CHF, USD/HKD, AUD/CAD, EUR/CAD, GBP/AUD and GBP/CAD, as well as CFDs on precious metals like gold, silver and platinum, West Texas Intermediate crude oil and Brent, and a number of major indices like Nikkei 225 and S&P 500. As no crypto assets are mentioned however, here you may also check our list of brokers trading with bitcoin CFDs:

No demo account

UK Clearing House says to be offering forex pairs and CFDs on gold, silver and commodities with institutional grade pricing and conditions. Unfortunately the broker does not disclose any specific details, and as they do not offer a demo account either, we can not comment on their spreads. In any case here you may also check our list of brokers offering tighter spreads:

UK Clearing House is a legit FCA regulated broker, where your money will be safe. Unfortunately they discloses too little information about their trading conditions and payment methods, and there was no demo account directly available to taste their trading environment first hand.

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Is Publishers Clearing House a Scam? [Truth Exposed]

Is Publishers Clearing House A Scam?

Today I’m taking a closer look at Publishers Clearing House and sharing more information.

There has been talk around Publishers Clearing House being a scam, so let’s find out what the real deal is.

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Publishers Clearing House Overview

Here’s what we will cover inside this review of Publishers Clearing House:

Table of Contents

Publishers Clearing House (PHC) is famed for its direct marketing in merchandise and newspaper subscriptions.

It basically uses sweepstakes as a strategic means of increasing its magazine purchases.

Customers are drawn to its merchandise with a chance to win megabucks.

Credit: fair use

It’s a simple win-win situation where the company makes huge sales, while consumers get a chance to win major prizes, and awards.

Besides, customers can also play different varieties of prized based games from the company’s websites.

Who Is The Founder of Publishers Clearing House?

He already had huge experience e as a Manager in a door-to-door sales group for newspaper subscriptions, before embarking on PHC as a family business.

The company which was first based in Long Island, New York, began its initial operations in 1953.

Its unique and highly successful sweepstakes marketing strategy took form around 1967 and was used to draw as many customers to its merchandise as it could.

How Does Publishers Clearing House Work?

PHC is mainly a direct marketing company.

It sells a wide range of merchandise including newspaper subscriptions, books, and jewelery.

It also operates a number of gaming websites.

The company’s main selling point is its magazine subscriptions with sweepstakes as a major selling strategy.

The best thing is that once you purchase the magazines, which are also heavily discounted, you stand to win major prizes.

As such, no ticket purchase is ever required for a consumer to qualify and win.

These sweepstakes are run on a daily basis which maximizes on winning chances.

There are several ways you can subscribe to the company’s sweepstakes program.

You can elect to join through its online platform, or by mail, or even by phone.

To subscribe online, you can search and visit their main website, and follow the signup prompts for you to finally join.

PHC also have their mailing networks, which you can respond to, and get to subscribe.

Other than that, you can also contact them by telephone to have them enlist you onto their sweepstakes database.

The company also runs several websites for different games.

An example is its PHC games, lotto, and highly popular video poker games.

Is Publishers Clearing House A Scam or Legit?

Publishers Clearing House scam claims are in fact not true. The company has been in existence for many decades.

Essentially, its legit operations are what has enabled it to withstand the test of time.

It’s business forte remains to sell a variety of merchandise, such as magazine subscriptions, jewelry and massive cash giveaways in its sweepstakes, and gaming products.

As an online operation, the sweepstakes are available to customers from all walks of life.

However, based on a large number of subscribers, it becomes quite difficult for everyone to get a chance to win.

The odds are usually much higher than expected.

In fact, it requires you to wait patiently for your lucky day to arrive.

Because PHC is such a famous sweepstakes company, imposters do times run amok, and scam innocent consumers out of their hard-earned cash.

Care must, therefore, be taken to know whether your prize is in fact from PCH or scammers out there.

Customers need to carefully double check the contact information, and logo, to establish whether the details they have are in fact legit.

Again with PHC, you do not have to pay anything to get your prize, this is what differentiates it from imposters.

Pros of Publishers Clearing House

There is a huge variety of merchandise from which you can choose.

  • You do not have to pay or purchase tickets to qualify for the sweepstakes
  • The daily sweepstakes’ routine offers high chances of winning a prize
  • Multiple platforms make it easy for anyone to subscribe
  • The company features an excellent customer support team, who are quickly reachable

Cons of Publishers Clearing House

  • It may take quite a while before you enter the program, after initial subscription
  • You may be the unfortunate recipient of too mains emails, or postal mail
  • Chances of winning are usually slim

Publishers Clearing House Verdict

My verdict is that Publishers Clearing House is a legit company that has been around for many years and is not a scam.

There are of course some negative aspects of Publishers Clearing House that I have explained, however that does not make them a scam.

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