UBFX - Forex TradingLatest release: 6.24.3790 ( 22nd September 2020 ) 🔍 Last analysed 10th November 2021 . Can't send or receive bitcoins Not functioning anymore
Do your own research!
Try out searching for "lost bitcoins", "stole my money" or "scammers" together with the wallet's name, even if you think the wallet is generally trustworthy. For all the bigger wallets you will find accusations. Make sure you understand why they were made and if you are comfortable with the provider's reaction.
The Analysis ¶
Update 2021-10-26: This app is no more.
(Analysis from Android review)
Update 2022-04-09: This app is not available anymore.
From Google Play:
UBFX is a foreign exchange trading platform designed for starter investors and professional traders.
Also in the description, it mentions the use of CFDs.
Cryptocurrency CFDs are provided - BTCUSD, BCHUSD, LTCUSD, ETHUSD and RPLUSD.
We tried the app and could find no wallet or option for the user to manage bitcoins. As this platform utilizes CFD trading, users do not actually own the assets.
You cannot send or receive bitcoins on this app.
The product can't send or receive BTC.
As part of our Methodology, we ask:Can it send and receive bitcoins? If not, we tag it No send/receive!
If it is for holding BTC but you can’t actually send or receive them with this product then it doesn’t function like a wallet for BTC but you might still be using it to hold your bitcoins with the intention to convert back to fiat when you “cash out”.
All products in this category are custodial and thus funds are at the mercy of the provider.
But we also ask:Is the product still supported by the still existing provider? If not, we tag it Defunct!
Discontinued products or worse, products of providers that are not active anymore, are problematic, especially if they were not formerly reproducible and well audited to be self-custodial following open standards. If the provider hasn’t answered inquiries for a year but their server is still running or similar circumstances might get this verdict, too.
Share onTwitter Facebook LinkedIn
Or embed a widget in your website
<iframe src="https://walletscrutiny.com/widget/#appId=iphone/com.ubankfx.forex&theme=auto&style=short" name="_ts" style="min-width:180px;border:0;border-radius:10px;max-width:280px;min-height:30px;"> </iframe>
<iframe src="https://walletscrutiny.com/widget/#appId=iphone/com.ubankfx.forex&theme=auto&style=long" style="max-width:100%;width:342px;border:0;border-radius:10px;min-height:290px;"> </iframe>