Universal Citizen is not a licensed or regulated broker even though it states offers that look good to be true. 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).
The truth is, Universal Citizen is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Universal Citizen and trade with licensed brokers.
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