Umarkets Broker Review 2017

FairBinaryOptions Broker Certificate
  • Min. Deposit $500
  • Max. Leverage 1:400
  • Spread EUR/USD 1.3 - 2.5 pips
  • Mobile Yes
  • Platform Proprietary
  • LiveChat Yes

Umarkets is a Forex broker that provides trading on a variety of assets and CFDs. The broker is owned and operated by Maxi Services Ltd, a retail brokerage founded in 2014 and registered in Belize, holding a license by the IFSC.

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  1. Umarkets Account Features

    This broker provides 5 account types; Mini, Standard, Gold, and Platinum. More sophisticated account types come with higher deposits and include access to trading signals and a VIP manager, while the Platinum account also features one on one trading.

    The Autochartist feature, which is included in all account types except for the Mini account, is a special program that informs traders about upcoming market movements.

    Additionally, Umarkets provides the option of Islamic or swap-free accounts for traders who must abide by Sharia laws and therefore are not subject to interest charges.

    The broker is currently offering a promotion for new traders in the form of a 30% welcome bonus on registering for a new account, but these are also subject to certain turnover requirements. They also offer some other incentives such as their Refer-a-Friend scheme.

    The minimum deposit starts at $500, which is quite high considering that the industry standard Is $250. We also found the spreads to be relatively high as both fixed and variable ones stand at more than 2 pips on lower account types for basic currency pairings.

    However, we were pleased to find out that there is the option of a demo account, so traders can try out the platform and practice with virtual funds before investing real money.

  2. Umarkets Trading Software

    Umarkets implemented the popular and reliable MetaTrader4 platform which is accessible as both web-based and on mobile devices as an app so members can trade on the go.

    The MT4 platform is a good choice of platform and used by many brokers around the world; it is suitable for both newbies as well as more experienced traders since it combines easy navigation with sophisticated trading tools. One useful feature is the Expert Advisors (EA) tools which gives traders the option of automating their trading. The platform also includes detailed charts and several technical indicators.

    Additionally, Umarkets also offer fixed spreads from their own proprietary WebTrader platform, which includes the innovative Authochartist feature.

    Both platforms give traders the opportunity to trade a range of assets; commodities, indices, as well as Forex and CFDs.

    Your capital is at risk
  3. Umarkets Support Information

    Umarkets offers traders support 24/7, so traders can seek out help whenever they may need it. This is a useful feature since not many Forex brokers provide such ongoing support.

    Moreover, customers may get in touch through email, Skype or by submitting an online form. There is also a live chat feature which we found to be very efficient as support agents are always online and ready to help you with any queries you may have.

    Phone support is also possible with Umarkets since they provide a local telephone number for the UK.

    The Help section provides an email address for the broker’s Claims department [email protected] so traders can also contact them should they have any complaints.

    There is also an extensive Education section which includes various e-books and video tutorials on how to trade specific assets as well as how to use the MT4 platform and making use of market analysis.

    The website is available in 3 languages; English, Arabic, and Spanish.

    Your capital is at risk
  4. Umarkets Payment Methods

    The broker offers a range of all the most common payment methods; traders may transfer funds through credit and debit cards like Visa and Mastercard, as well as e-wallets (Neteller) and the option of Wire transfer.

    As mentioned earlier, Umarkets is a brand of Maxi Services Ltd, a company registered in Belize, and regulated by the IFSC under license no. IFSC/60/338TS/15. The website is also affiliated with Maximarkets.com, a member of both the Association of Russian Banks (ARB) and the Association of Regional Banks of Russia (ARBR).

    Umarkets is also an official member of FinaCom, the international independent dispute resolution organisation, which acts as a middleman between brokers and traders to settle disputes in a fair and timely manner.

    The registered payment provider for Umarkets.com is Up Services Ltd., a firm registered in Bulgaria.

    Even though the broker shows proof of regulation, we would advise traders to exercise caution since its regulation can be considered ‘light’ and more so since the parent company Is registered in an offshore location.

     

  5. Your capital is at risk
Maxi Services (Belize) Ltd.
Umarkets is regulated by IFSCUmarkets
is regulated by
IFSC

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