CategoriesForex Trading

Is Umarkets a Scam? Read This Brutally Honest Review


That’s insane and it goes even higher if you receive bonuses above certain amounts. Plus, they may close your account if you choose to withdraw your deposit before completing the bonus requirements. Very, very rude support members aka account managers. In my 8 years experience, never trust a broker who is so much pushy. Please read Umarkets Reviews below and share your live trading experiences with this broker. It remains registered and compliant as an “International Business Company,” however, that should not be confused with regulation as a brokerage.

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It’s a lot, that’s why I spent 3 months fulfilling them. And it was worth it of course, even though I didn’t plan to withdraw money earlier than after half a year of work. Where else would you make 30% in three months?! Although, if you’re a newbie and insecure regarding your abilities, think twice. Good trading conditions, bonuses, demo account.

UMarkets Review

I umarketsed to trade better, I think it’s thanks to their quality training, which is also free. The broker provides good analytics, but SMS signals are not to everyone’s taste, it’s better to check them. I trade with UMarket, and just realized they are scam. They convinces you to put more and more deposit but when I ask for withdraw. Always have all possible reason that i cannot withdraw. Their mistake write withdraw 350KUSD rather than 35KUSD, but put on me to put deposit and promise me can reach that target in a month.

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From all the possible means I made and I collected such a huge amount and do whatever they instruct me. offers over 70 currency pairs, cfds, commodities, shares, indices, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options. The 100% Insurance promotion covers losses on trades opened on the day the promotion is valid, likely on select major economic news releases. It is important to note that funds recovered are treated as a bonus and not as deposited capital. Finally, a 30% first-time deposit bonus is available. It is essential to remember that all bonuses and promotions have strict terms and conditions.

Is Umarkets a legit company?

Support is there to help you deposit and returns are what you make them. Umarkets offers following assets to be traded on MetaTrader 4 and xCritical platforms. One moment on Feb. 26, 2018 my expert email me that my account is at risk due to LOCK and BLOCK. At first, I ask him why is that so and he replied due to his placement of GBP/JPY that shoot up to great losses. I was astonished and can’t be replied to him and wondering why it happens since my account is on VIP and the one placing it.

mini forex

I advise you not to mistake what I have made. Every professional trading company should provide efficient payment protocols, and when it comes to deposits and withdrawals with UMarkets Forex broker, you can choose between credit cards or e-wallets. In other words, you can transfer the money using your VISA or MasterCard, or you can opt for an account on Neteller. Allegedly, all the transactions are protected with an SSL encryption, but this safety measure is not enough to convince us that your funds will be safe and secure with this unlicensed trading provider. I’ve been trading with them for a year and a half now.

Tag: Umarkets

The UK FCA, the Austrian FMA, or the New Zealand FMA issued warnings against TradeVtech. However, the scam is still active, still facilitated by BridgerPay. FinTelegram has issued several warnings against them. Currently, the scam is operated by Universal Services LLC and UMedia LLC, registered in St Vincent & The Grenadines.’ consultant first showed good profits on one platform, then advised for another platform promising sure and bigger profits. It happened couple of times, then he asked to deposit more as insurance cover. Despite insurance cover and his repeated assurances, all amount was lost. Though continued on one platform with a remainder of amount. From situation, my expert is no were to be found and never have communication with him until in May 2019 upon login my account on their platform I found out that my account is negative or wipe out.

Also because not any of my e-mails requesting clarification has been answered. If anyone has experience how to push them to pay my money back would appreciate your comment. They scammed me 17000$ and 3800€ as insurance. They account manager disappeared and he took all my money 💰 in my account. These Umarkets are also scammed two of my colleagues. I don’t have an analytical mindset, but the broker’s training materials helped me develop it.

UMarkets Review Conclusion

Lately the support has been responding quite slowly. Although maybe it’s been this way all the time, I just never actually addressed them before. There are not a lot of extra features on this platform, but we can mention Autochartist. However, you will be able to use this tool only if you deposit at least $5,000 . It really is too bad their reputation is less than stellar. has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up.

trading accounts

Platforms are user-friendly, MT4 is still a good choice among the majority of traders worldwide with good market analysis. For the Apps, they are suitable for Apple and Android. UMarket Overall Ranking is 2 out of 10 based on our testingand compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

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We are committed to the fair handling of reviews and posts regardless of such relations. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. They try to pull you in and press you to give your personal data and top up your account over the phone. Webinars include live trading, which provide new traders with excellent examples of discussed strategies. With XCritical fulfilling a dominant role at Umarkets, it is understandable that the MT4 platform is not enhanced. The Autochartist upgrade, a tool that scans markets for chart patterns and trading opportunities fully autonomously, is integrated with XCritical.

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Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. I was patient and I was able to work out the bonus given to me.

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Umarkets is owned by Market Solutions Ltd since October 2017, which is also located in Kingstown. The broker has been using the same brand name with a registration out of Belize under the name Maxi Services Ltd. Unless you’re already a member and enjoying our service, then just sign in. We do not trust this broker and do not recommend it to you.

By average I mean comparing the number of shares in the terminal’s symbol list. In IB there are actually more shares, and no name brokers basically limit themselves to blue chips. Although, the access to the stock is free of charge.

Per its own account, it serves over 1,200,000 traders from 87 countries and maintains a strong relationship with HSBC, Europe’s largest bank. No details are provided on it, but this broker denotes tremendous success in Europe with expansion plans for Latin America and Asia. Umarkets needs to provide more clarity on the deposit and withdrawal process. A swift online application processes new accounts.


However, the use of bonuses imposes certain obligations, the most important of which is the ban on the withdrawal of funds from the account before the fulfillment of these obligations. Volumes are easy when trading with currencies, but it’s a bit more difficult with shares. The asset selection is adequate for most traders, but the pricing environment remains excessive. Traders are also faced with above-average deposit requirements which, given the aforementioned expansion plans, appear out of reach for the target markets. On the positive side is the availability of the XCritical trading platform, a genuine competitor to MT4, which is provided only as the sub-standard basic version. Education is where Umarkets delivers an excellent product with tremendous value.

I have asked them in every possible way to stop calling. I have been polite, I have insulted them, I have explained several times. Brokerage company whose ebook I have unfortunately downloaded and the harassment began.

For 2 months they are constantly calling me, different numbers, different countries, Viber calls. Four account types are available, plus an Islamic account which is available on request. The refer-a-friend promotion is one of the most widely used offers across the industry. The Education Center adds tremendous value for new traders. Although we take a neutral stance, we also want to be open and provide this information so you can make an informed decision about engaging with this company.

  • The broker is equipped with a team of market experts to provide traders with analytics, market forecasts, and numerous trading strategies.
  • The refer-a-friend promotion is one of the most widely used offers across the industry.
  • Since a dedicated FAQ section or help center is not available, customer support presents the primary source of assistance.

The possibility of fraudulent activities is always high in the global financial world, and investors should always be careful when investing their funds. The same situation applies to the potential UMarkets scam, and some background check is necessary when planning to invest your hard-earned money. These values are based on complex arithmetic calculations as determined by us in our sole discretion. These calculations include a spread in favor of us, which means that the values involved may differ substantially from prices available on primary markets where similar transactions are conducted. Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Umarkets is not a regulated broker and there are risks involved pertaining to client fund security, among others, when using unregulated brokers to facilitate trading.

You just really need to be diligent and keep to your training schedule so you get the most out of the training. You also need to communicate your concerns with your personal expert so you don’t misunderstand how things work like withdrawals and bonuses. When it comes to the trading accounts and conditions, UMarkets broker does not bring anything revolutionary to the world trade scene. What this means is that clients can choose between four general categories of accounts, which includes Mini, Standard, Gold, and Platinum account. The lowest amount you will need to deposit to start the Mini account is $500, which is a very high number and such a demanding requirement will deter most beginners. Also, UMarkets offers and Islamic account, as well as a demo account for training and practice.

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