Umarkets Forex Broker

UmarketsReview Summary Founded2022 Registered Country/RegionMarshall Islands RegulationNo regulation Market InstrumentsShares, indices, commodities, forex, cryptocurrencies Demo Account✅ LeverageUp to 1:200 EUR/USD SpreadFrom 1.6 pips Trading PlatformxCritical Minimum Deposit$500 Bonus✅ Customer SupportContact form Tel: +442037697631; +442080773052; +442037697601 Email: support@umarkets.vc; customers@umarkets.vc Skype: umarkets.com Regional RestrictionUK Umarkets was registered in 2022 in Marshall Islands, specializing in shares, indices, commodities, forex, and cryptocurrencies trading. It provides four types of accounts, with a minimum deposit of $500. Besides, promotions are also available. However, it should be noted that this company is not regulated, and potential risks cannot be ignored.Pros and Cons Pros Cons Diverse tradable assetsLack of regulation Demo accounts and Islamic accountRegional restrictions Multiple channels for customer supportNo MT4 or MT5 Promotion and bonus offeredHigh minimum deposit Popular payment options No depositing feesIs Umarkets Legit? No, Umarkets is not regulated by financial regulatory authorities in Marshall Islands, which means the company lacks regulation from its registration site. Please be aware of the potential risks!What Can I Trade on Umarkets? Umarkets offers different types of products, including shares, indices, commodities, forex, and cryptocurrencies. Tradable Instruments Supported Forex✔ Commodities✔ Indices✔ Shares✔ Cryptocurrencies✔ Bonds❌ Options❌ ETFs❌Account Type Umarkets provides four types of accounts: Mini Forex Account, Standard Forex Account, Gold Forex Account, and Platinum Forex Account. Besides, demo accounts and Islamic accounts are also available. Account TypeMinimum Deposit Mini Forex Account$500 Standard Forex Account$5,000 Gold Forex Account$10,000 Platinum Forex Account$150,000Leverage The leverage can be up to 1:200. Traders need to consider carefully before investing and should bear in mind that high leverage is likely to bring high potential risks.Umarkets Spreads AssetSpread MiniStandardSilverGoldPlatinum EUR/USD2.521.71.71 Aluminium380280280180130 Brent Crude Oil1512111110Trading Platform Umarkets uses xCritical as its trading platform, and it does not support MT4 or MT5. Trading PlatformSupported Available Devices Suitable for xCritical✔Mobile, web/ MT4❌/Beginners MT5❌/Experienced tradersDeposit and Withdrawal Umarkets accepts different types of payment options, such as MasterCard, VISA, Neteller, Skrill, OrangePay, AstroPay and so on. It also claims that no depositing fees are charged. However, other details such as the accepted currencies and the processing time are not clear.Bonus & Promotion Umarkets holds promoting activities. Traders can receive 30% bonus for their first deposit. Besides, people can also earn bonus by inviting friends.