Universal Citizen claims to be a reliable firm while presenting no details about its regulations. Lacking regulatory information may be a distinct characteristic of unlicensed brokers, as legit brokers always present their certificates and licenses in a prominent position. It is a red flag here.
Besides, Universal Citizen shows its company address is in Seychelles. However, we did not find any match results to Universal Citizen in the Seychelles regulator Financial Services Authority (Seychelles FSA).
More importantly, three famous regulatory bodies issued warnings against Universal Citizen for offering financial services without authorization and regulations, including:
1) The New Zealand Financial Markets Authority (FMA);
2) The Hong Kong Securities And Futures Commission(SFC);
3) The Italy Commissione Nazionale per le Società e la Borsa (CONSOB).
That means Universal Citizen is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.
Universal Citizen claims to be a reliable firm while presenting no details about its regulations. Lacking regulatory information may be a distinct characteristic of unlicensed brokers, as legit brokers always present their certificates and licenses in a prominent position. It is a red flag here.Besides, Universal Citizen shows its company address is in Seychelles. However, we did not find any match results to Universal Citizen in the Seychelles regulator Financial Services Authority (Seychelles FSA). More importantly, three famous regulatory bodies issued warnings against Universal Citizen for offering financial services without authorization and regulations, including:1) The New Zealand Financial Markets Authority (FMA);2) The Hong Kong Securities And Futures Commission(SFC);3) The Italy Commissione Nazionale per le Società e la Borsa (CONSOB).That means Universal Citizen is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.