UMarkets Review

MIN. DEPOSIT $500
Up to 400:1
Up to 30% BONUS
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UMarkets
Up to 30%
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Overview

Company Information   Umarkets is one of the relatively new names in the Forex brokerage industry. The brand was created in 2010 and is owned by the Belize-registered company Maxi… more

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Details

Broker UMarkets
Website URL https://www.umarkets.com/en
Headquarters Belize City, Belize
Support Number +44 203 695 8926; +966 (81) 1170 2344
Support Email support@umarkets.com; customers@umarkets.com
Support Types Phone, Live Chat, E-mail, Skype
Languages English, Spanish, Arabic, Chinese
Minimum 1st Deposit $500
Minimum Trade Amount $10,000
Bonus Up to 30%
Payout Up to 400:1
Free Demo Account Yes
Regulated Yes
Regulation International Financial Services Commission of Belize
Account Types Mini, Standard, Gold Platinum
Deposit Methods Visa, MasterCard, Neteller, Bank Wire, cashU
Withdrawal Methods Visa, MasterCard, Neteller, Bank Wire, cashU
Types of Assets Forex, Indices, Commodities
Account Currency USD
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

 

Umarkets is one of the relatively new names in the Forex brokerage industry. The brand was created in 2010 and is owned by the Belize-registered company Maxi Services Ltd. The company is licensed by the IFSC in Belize and is also a member of the RBA (Russian Banks Association) and the RRBA (Russian Regional Banks Association). Headquarters of the company are located in Belize City in Belize. The brokerage has great popularity in Europe and is now starting to focus on clients from Latin America and Asia. Umarkets offers excellent trading experience to their institutional clients and high-frequency traders. The company utilizes the latest technological advances and supports the most efficient trading platforms. With one of the best customer support services and the wide range of trading features and instruments, this company aims for the top of the brokerage industry. Let’s see what trading conditions does Umarkets offer for their clients.

 

Trading Information

 

Umarkets has five account options you can choose. The first one is their Mini Account option which is suitable for beginner traders. It has a minimum deposit requirement of $500 offers a swap free account option. In fact, all of the accounts have a swap free option which is very nice. The second account option is the Standard account (with a $5000 deposit requirement), the third is the Gold account (with a $50 000 deposit requirement) and finally the Platinum account (with a $150 000 minimum deposit requirement). The available leverages for every account are from 1:100 to 1:400. Spreads are both fixed and variable depending on which platform you use (variable for the MT4 and fixed for the Web Platform). They can go as low as 1.4 pips for majors like EUR/USD, but they usually average for about two pips. If you are a fan of the MT4 platform, you can also make an ECN account where spreads can go as low as 0.5 pips for EUR/USD.

 

Trading Platforms

 

It’s not a surprise that Umarkets have chosen the Metatrader4 (MT4) as their primary platform. It’s the most popular one and has been proven throughout the years. With plenty of features like one-click trading, trading from charts and streaming news feed the MT4 is still the king of Forex trading platforms. Trading from signals is also supported, and there is an option of expert advisors. The MT4 is suitable for all devices and operating systems. It works with Windows, Linux, and MAC. There is also a dedicated app for Android and Apple smartphones and tablets. Metatrader4 is a fantastic platform that has been around for over a decade. It’s very stable and easy to understand. The only letdown of the platform is that it has to be installed on the device you’re going to use. But Umarkets have made the effort of providing a Web Trader platform which can save you the hassle of downloading and installing stuff on your devices. It only needs a browser and log into work.

 

Security and Customer Services

 

Security at Umarkets is great. They have installed an SSL encryption on their website which protects personal data. It ensures that all the personal details you share will be available only to the company’s employees. The segregated account option that Umarkets offers means that all of your funds will be separated in a top tier bank account. Customer support is nothing but excellent. Coverage is 24/7 and getting in contact with a company’s representative is made easy. You can call them on the phone, send an email or chat with them on skype. There is an online form you can fill and send your questions and inquiries. The website is translated into four major languages (English, Spanish, Chinese and Arab). Umarkets also offers a very thorough education page where you can learn all about trading and even how to make a deposit. There are videos, e-books, market analysis, forex strategies and all other sorts of helpful educational materials.

 

Deposits and Withdraws

 

To deposit money into your Umarkets account, you can use one of several deposit methods. The most popular credit and debit card methods are supported with some digital wallets also available. The minimum deposit as we’ve already mentioned is $500. There is no mention if they have any deposit charges, but it’s safe to assume that there aren’t any. Deposit processing times depend on the method you’ve chosen. Withdrawing funds is as easy as depositing them. You can use the same methods you’ve chosen for the deposit or a different one (as long as the name of the account owner is the same). Processing times depend on the chosen methods, and there aren’t any charges mentioned. But be sure to check how much your bank charges for a regular fund transfer. There are some rules about withdrawing bonuses which you can find on their “terms and conditions” page.

 

Deposit Bonus and Loyalty Programs
The current bonus offer from Umarkets is the “30% Welcome Bonus”. There is no bonus limit mentioned except for the $1500 on their sign up page. Rules and conditions about the bonus can be found on their “terms and conditions” page. Another promotion offered by Umarkets is their Free Practice Account. This is their version of the Demo Account provided by many brokerages. There you can test their Web Trader platform right away.

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