Umarkets

Umarkets allows trading on a broad array of currencies, indices, CFDs for shares and commodities using the well-known MetaTrader 4 (MT4) platform.

The company that operates Umarkets’s brand Umarkets label is Maxi Services (Belize) Ltd. It was founded in 2014 and authorized by Belize’s Belize International Financial Services Commission (IFSC).

Belize is an extremely popular offshore financial hub, and the regulations for licensing are less stringent in comparison to other jurisdictions; however, the regulatory regime is more stringent than the Seychelles as well as Saint Vincent and the Grenadines. Between the end of 2015 and beginning of 2016 the IFSC raised the required capital for commodities and financial brokerages dealing in derivatives to $100,000 from $500,000. Additionally, the commission raised the annual fee for licenses by a factor of $25,000 to $5,000.

Umarkets is also an active participant in Umarkets is also a member of Russian Banks Association (RBA) and the Russian Regional Banks Association (RRBA).

We do suggest traders avoid offshore businesses, such as Belize-based ones, and choose brokers that are who are licensed by trustworthy authorities like the UK’s FCA and ASIC in Australia. ASIC For instance.

Trading Platforms

As with most brokerages, this one is compatible with MetaTrader 4 (MT4), accessible in all shapes and forms including desktop, web and mobile applications.

MT4 is an extremely reliable platform that is used by a variety of brokers. It is a preferred choice for the majority of traders because it’s simple to use and provides everything a trader requires including a variety options for technical indicators numerous back-testing options, a sophisticated charting tools, and a broad variety of Expert Advisors (EA), that allow traders to completely automate their trading.

Promotion

Umarkets provides the depositors a 30% welcome bonus. To withdraw the bonus traders must also be able to meet certain requirements regarding trading volume.

Methods of Payment

Umarkets offers its customers the following payment methods that include credit or debit cards (Visa, MasterCard), bank wire transfer, the e-wallets CashU and Neteller.

Conclusion

Umarkets is an off-shore broker offering online trading in forex and a range of CFDs that are based on the well-known MT4 at reasonable rates.