uCapital

uCapital have ceased trading. The firm is no longer accepting new accounts.

uCapital is a new binary broker, which combines binary options trading, with social trading. The platform is a unique design, suited to multiple trades. The brand offer some flexible trading features and a strong list of underlying assets.
Launched in 2017, the brand is owned by UB Innovations Ltd, with bases in Edinburgh and the Marshal Islands. UCapital presents a new platform, incorporating some of the new developments that have proved popular in binary trading – such as adding time to trades, or settling options early – plus the boom of social trading.

Trading Platform

The UCapital platform has been designed to make trading multiple underlying assets easy, whilst retaining the simplicity of binary trading. Beyond the easy to use trading windows however, are some very useful advanced features.

These features are easy to reach, but designed well enough to not clutter the trading area. The most important of these features is the advanced charts. Opened via a small button on each trading window, charts open in a new window.

The charting offers some great options, including 12 different display types (candlestick and line to name just two) and a huge list of technical analysis tools to overlay on the chart. Another nice feature is the ability to look at four charts at once – giving traders the chance to spot trends over different time periods, without swapping between charts.

One limitation of the advanced charts is in the time frame. The longest range is currently set to 1 hour. With long term options available on the platform, it would be good to have a daily chart as an option too, as ‘end of day’ trade strategies are popular. Long term charts are available however, if the trader uses the “full screen” option within the trading window – those charts go up to a year.

The trading area itself is a clear, useable platform. All the key information is available on each trading window. So traders choose the asset and expiry time at the top of each chart, and set the trade size and choose the direction at the bottom. Once selected, a ‘Submit’ button appears to confirm the option and and a marker will appear on the chart.

UCapital use ‘Put’ and ‘Call’ rather than sell or buy, but use clear arrows as well, and the price graph will also update in which direction the price must travel in order for a trade to win. Each window can be used on its own, and where a trader only wants to look at one asset at a time, they can do that in one click.

The more detailed single window view, does add some more information and opens up options such as the “Refunds” slider. Here, a trader can reduce the amount of their stake which is at risk to a losing trade – the offset being a lower payout where the trade wins. Traders can protect between 14% and 30% of their trade value.

On the left hand side of the trading platform are the asset lists, and the ‘Social Trading’ button. From the social trading area, traders can see the trades being made elsewhere, find profitable traders and even follow their trades. Clicking ‘follow’ takes the user to the trade just opened, so that the same trade can be copied for whatever size the trader wants.

This copy trading works on a trade by trade basis, rather than following a specific user for every trade. This allows traders to pick and choose selective positions, rather than all of them. Others may prefer the more traditional copy trading but it is down to personal choice.

Trader Choice

The list of underlying assets includes indices, currencies, stocks and commodities. By far the strongest category is currencies. The firm offer over 30 major and minor forex pairs. While the forex offering is strong, stocks and indices lists are a little sparse – as a new brand, this should not be a surprise and further assets will be added over the coming weeks and months.

In terms of trade types, UCapital keep things simple, offering only the standard High/Low binary option. Where they provide choice however, is via the expiry times. These range from 60 second trades, all the way up to end of year options. This delivers a good level of flexibility for trading news events etc.

While the overall levels of choice are low in respect of certain assets, and the more exotic trade types, the firm will no doubt add many more options to their range as they grow.

Mobile App

As a new platform, the mobile app was developed in parallel with the full website. This means the platform is the same on the website, as it is the app. The simplicity of the trading platform makes switching between devices easy.

The advanced features of the full website are still available for the mobile app, and it is available for download on both android and iOS (iPhone, iPod and iPad). Each version has been tailored for the specific device, to maximise the potential of each platform.

Account management features are available on the app too. So deposits and withdrawals can be made and requested as needed. The news events, and copy trading features, mean traders can stay up to date with events, and follow traders into positions where ever they might be.

All in all the mobile app is a great addition to the service.

Payouts

Payouts at UCapital can reach 95%, and are generally competitive. As ever, the actual rate will vary based on the expiry, volatility in the market and specific assets. As the brand grows, the volume should also grow – allowing them to be more generous with payouts.

Withdrawal and Deposit Methods

Deposits and withdrawals can be made via credit or debit card, wire transfer, and popular e-wallet providers, such as Neteller and UCash.

Withdrawals can sometimes lead to disputes in binary options. It is a good idea to check the compliancy requirements well before seeking a withdrawal, so that everything is in place when a request is made.

The firm try to provide privacy and security and therefore require all customers provide the ‘compliance department’ with the correct verification documents. These need to be provided to the compliancy team and can be sen via email.

Credit and debit card withdrawals are paid within 3 to 7 days of request, (assuming verification paperwork has been provided). Wire transfers are paid within 10 business days of the original request. These withdrawal speeds are not that good, and are an obvious area where the firm can improve as it moves forward.

Complaints

The brand only went live in 2017, so there is little in the way of customer feedback as yet. The website performs well, and during use, caused no reason for concern.

The firm are currently unregulated, so it is a good idea to check back and see what feedback we receive. Anyone wanting to get in touch to give us their thoughts on the brand can reach us via our Contact Us page.

The withdrawal process is a little slow, and this will no doubt cause some disputes. 10 business days to process a wire transfer is too long and certainly much longer than transfers made in other online sectors.

Demo

Traders can open a demo account with UCapital. In order to do so, a trader needs to register with the firm, and then speak to their account manager to get some demo funds added to the accounts. Demo funds are added to a “Free balance” which is visible within the real money account. So the demo account and the real money account are not separate.

Traders can speak to their account manager at any time to have funds added to the ‘free balance’ and the trading works exactly the same for both balances (‘free’ and real).

The screen shot demonstrates the steps to making a trade on the platform:

• Select the underlying asset
• Select the expiry time (When the option will settle, or end)
• Check the trade size
• Select Put or Call

The platform will then display a ‘Submit’ button to confirm the trade.

Other Features

• Advanced Charts – The charting feature at uCapital is a notable benefit. The options are on par with leading financial service providers.
• Buy Me Out – Close a trade early, locking in profits or reducing losses.
• Buy Me Time – Extend a trade to give it more time to move in the correct direction.
• Refund – Protect between 5% and 30% of a trade, with the trade off being a smaller payout.