Reported as a scam / unregulated
Why Union Bazaar is on the register
Union Bazaar claims to be a global online forex broker fully licensed and regulated by several regulatory bodies, including: 1) The Cyprus Securities and Exchange Commission (CySEC) with license number 124/10; 2) The Belize Financial Services Commission (Belize FSC) under license number IFSC/70/394/TS/19; 3) The United Kingdom Financial Conduct Authority (FCA) with reference number 668417; 4) The Australian Securities and Investments Commission (ASIC) under license number 231490. First, we did not find any match results to Union Bazaar in ASIC and Belize FSC. Second, we find a match result to 66841 in FCA. But the number belongs to a company named “Peter Charles Ray”, whose only approved domain is “enigmacarandvansales.com.” Third, we indeed find a match result to the number 124/10 in CySEC. But the number belongs to a company named ORBEX Ltd whose only approved domain is “www.orbex.com.cy.” That means Union Bazaar is a clone firm that falsely uses the regulatory info of licensed firms. Union Bazaar 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.
If you have money with this broker
- Stop sending funds. Do not pay any further “fees”, “taxes” or “verification” charges to release a withdrawal — this is a common secondary scam.
- Preserve evidence. Save transaction IDs, wallet addresses, chat logs, and every screenshot before the account is closed.
- Report it. Notify your bank/exchange and your national financial regulator so the activity is on record.
- Get guidance. Tell us what happened and we will point you toward the right next step. We are a free public registry — we never charge any fees.
SentFunds is an information and referral service. Listing reflects reported concerns and public findings; it is not a legal determination.