Global Broker governance & inquiry App

Umarkets

Belize
Entry Time 2019-01-04
2019-01-04Input
https://www.umarkets.com/en/
https://www.umarkets.com/en/
Exposure

Time Machine

More
More
2020 years 4 Month
2020-4
Time2020 years 4 Month
Time2020 years 4 Month
Expose
Pyramid scheme complaint
Expose

Umarkets · Company Summary

General Information & Regulation

Umarkets is a CFD broker owned by Market Solutions LTD; since October 2017, it has been registered in Saint Vincent and the Grenadines. The brokerage has been operational since 2008, using the same brand name with a registration out of Belize under the name Maxi Services LTD. Ownership of this brokerage changed numerous times. Market Solutions LTD is registered as an International Business Company in Saint Vincent and the Grenadines, under company number 24310 IBC 2017. It is important to note that Umarkets has not been accused of any wrongdoing since it reorganized under its current operational model.

Markets Instruments

With 70 currency pairs provided, pure Forex traders have an excellent selection. A welcome addition is the availability of 16 cryptocurrency pairs. The commodity choice is limited to nine CFDs. Cross-asset diversification exists through 141 equity and 17 index CFDs.

Minimum Deposit

The Mini account requires a deposit of $500, which is a higher minimum than most other brokerages. Traders need to deposit $5,000 to gain access to the Standard account, where all features are available. The Gold and Platinum accounts require deposits of $10,000 and $35,000, respectively, without contributing any significant advantages.

Leverage

The maximum trading leverage offered by Umarkets is up to 1:200.

Spreads & Commissions

Forex and metals CFDs are commission-free, while energy, cryptocurrencies, equity, and index CFDs carry a fee. The pricing structure lists EUR/USD spread listed at 2.5 pips in the Mini account. The spread is reduced to 1.0 pips in the Platinum account. Commissions for all assets, except cryptocurrencies, range between $3 to $7 per side, and for the exceptions, between $10 and $20.

Inactivity Fees

After 90 days of inactivity, a monthly maintenance fee of 5% applies.

Trading Platform Available

Umarkets traders can choose between the industry standard forex trading platform MetaTrader 4 (MT4) and the xCritical platform. Both platforms are available for desktop, as mobile trading applications and a web terminal that runs directly in most modern web browsers without the need to download or install any additional software.

Deposit& Withdrawal

Umarkets neither provides a list of accepted deposit and withdrawal methods nor does it maintain a dedicated section on its website, which is highly unusual. Nevertheless, they do provide a list of logos indicating what systems they use, including credit/debit cards, Skrill, Neteller, OrangePay, and MNP. A $50 minimum withdrawal applies, according to one reference found on the website. The minimum deposit is presumed to be $500, the requirement to open the Mini account. More transparency in this essential process is required.

Customer Support

The Umarkets customer Support is available 24/5, and traders may either call directly, send an e-mail, or use the webform.

Select Country/District
United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com