- Name : Umarkets
- Website : umarkets.com
- Established : 2010
- Regulation : IFSC
- Country : Belize
U.S. Clients Allowed :
NoDue to strict US regulation many brokers aren't able to accept traders with US citizenship.
See our list of recommended brokers that do accept US traders.
Umarkets ReviewUmarkets Review
Umarkets is a market leader in financial industry. It is branded under Maxi Services (Belize) Ltd. which was established in 2014 and is a licensed, rapidly growing brokerage house that enables retail and institutional investors including banks, hedge funds, high-frequency traders and brokerage companies to trade indices, commodities, stocks and Forex.
Maxi Services Ltd. has enjoyed huge success in the European markets and has now started to focus on Latin American and Asian markets, especially Russia. It is the only online broker that is a member of lucrative Russian Banks Association and a member of Russian Regional Banks Association.
Umarkets is regulated by the IFSC.
There is one standard trading account at Umarkets. There doesn’t seem to be any required amount to open an account but there is a 200:1 leverage on any deposit amount made.
I was pleased to see that a demo account is offered for beginners who wish to practice their trades before putting any of their own money at risk.
Swap accounts are also available for traders that follow Sharia laws and are prohibited from taking interest on trades held overnight.
Trading hours for currencies are 24 hours a day, 5 days a week, from Sunday at 22:15 GMT when Asian markets open until Friday at 21:45 GMT, when U.S. markets close.
The Umarkets website maximizes technological advances in graphics and design. Both newbie traders and those with years of experience behind them can benefit from the information provided page after pages by just scrolling down without having to click on any tab. This is an easy way to navigate a site and is useful when using a mobile device to access the trading platform.
Umarkets offers traders access to indices, commodities, and Forex. What I really liked about the Umarkets site was that in addition to the main features of each asset, the product was listed on a separate page with appropriate charts for trading hours and break times, expiration rates, contract specifications and currency rates.
Indices traded are all the major ones from USA and EU. Trades are made with very tight spreads. Commodities include Crude and Brent Oils, Natural Gas, Gold, Silver and Copper and trading signals on these commodities are sent straight to the trader from the broker’s trading room. Trading hours for indices vary according to the location of the index and that’s why the availability of a separate chart for the trading hours of each instrument is so beneficial to the trader.
When it comes to Forex trading, traders are offered access to the best trading specialists and the most advanced trading tools. Other features include low spreads, leverage from 1:100 to 1:400, no commissions and swap-free accounts.
Umarkets uses the services of Trading Central which is a leading investment research provider to financial market professionals. Trading Central provides technical analysis and the use of their award-winning indicators.
One of the features provided by Trading Central is the Autochartist program that informs traders of upcoming movements in the markets and keeps them alert and on target with their trades.
Umarkets offers a 30% welcome bonus on all new deposits. This campaign is time limited and according to the site the offer expires on July 31st, 2015.
Anyone opening a demo account for the allotted time of two weeks receives a special promotion. Losses they incur are not considered real but any income received as a result of trading is credited to the trader’s real account as a bonus.
The Refer-a-Friend promo is generous. Once a trader has opened an account and made a deposit, he/she receives a bonus of 15% (to $1,500 dollars) on the amount of the deposit. No mention is made of any special award for the friend brought in. The number of friends a trader can invite is not limited.
A unique service is offered to all Umarkets.com clients in the form of deposit insurance on news trading. The insurance pertains to deposits from $500 to $5000 dollars and is applied to all transactions opened on the day of news from 00:01 GMT to 00:00 GMT. Clients must first confirm their participation in the program and the insurance is credited in the amount of total loss, calculated in accordance with the results of all trades, opened on the day of news but not exceeding 100% of the sum assured.
Funding to accounts can be done by credit cards, Visa and Master Card as well as by bank transfers and payment online systems such as Neteller, CashU and others.
Withdrawals are made using the same methods as the deposits.
Traders can contact customer support 24/7 using various different means. Questions or suggestions can be made via phone, Skype, email, chat or by filling out an online form. The Umarkets website is available only in English, Spanish and Arabic.
As mentioned above, trading hours vary according to the type of asset traded and the location of the traded instrument.
Umarkets has created an intuitive interface which is easy to work with when trading currencies, commodities, indices and stocks. After having success in the European markets, it is only natural for Umarkets to turn now to Asia which is one of its home bases.
- Demo and Islamic Accounts
- Selection of Bonuses
- Little Educational Material
- Only One Standard Account
Review info: Umarkets
Review Date: 2015-07-20
Rating : 2
Reviewed By : Sara Patterson (Google+)