Umarkets Forex Broker

General Information & Regulation Umarkets is a company that is registered in St Vincent and the Grenadines but they are not regulated by any authority. Umarkets advertises it offers forex trading to clients from 87 countries around the world. Umarkets cannot accept clients located in the Unites States of America. Market Instruments With Umarkets, traders can invest in forex trading, cryptocurrency trading, shares trading, indice trading commodities trading. Minimum Deposit Five real trading accounts are on offer: the Mini Forex Account, Standard Forex Account, Gold Forex Account, and the Platinum Forex Account. The minimum initial deposit of the Mini Forex account is $500, which is much higher than the industry standard. An unregulated broker requiring such high account opening amount is a red flag of scam. Leverage When it comes to trading leverage, the maximum leverage for forex trading is up to 200:1, which seems average compare with many other brokers. However, since leverage can magnify gains as well as losses, inexperienced trader had better not use too high leverage. Spreads & Commissions Spreads and commissions vary depending on various trading accounts. The spreads in the mini forex account from 2.5 pips, spreads from 2 in the Standard forex account, 1.7 pips in the gold forex account, 1 pip from the Platinum Forex Account, no commissions charged. Trading Platform Available Umarkets traders can choose between the industry standard forex trading platform MetaTrader 4 (MT4) and the xCritical platform. Both platforms are available for desktop, as mobile trading applications and a web terminal that runs directly in most modern web browsers without the need to download or install any additional software. Trading Tools Apart from trading platforms, Umarkets offers some useful trading tools, including Economic Calendar, Earning Season, Spread Table, Autochartist well as trading Calculators. Deposit & Withdrawal Umarkets have a limited selection of methods for depositing and withdrawing funds from your trading account. This includes bank wire, credit/debit card and online payment systems such as Neteller and Skrill. Customer Service The Umarkets support team is available 24/5 to answer all your questions and to instruct you on how to make the most out of the brokers trading platform. If you have any questions or suggestions, you can contact them via phone, Skype, email, chat online or fill out the form on the brokers website.