Umarkets Review 2024

Umarkets deceives its clients on all fronts. I compared the spreads in their website table with those displayed in the trading platform and there was no resemblance between them. The real conditions differ significantly, making it problematic to earn here. But that's only half the trouble. The broker unjustifiably interferes with trading, forcibly closes orders, and invents numerous reasons not to withdraw money. I lost $500, not counting the small earnings from this amount, and wasted a lot of time on investigations that led nowhere. Never get involved with Umarkets.

My Forex experience is sufficient to understand what Umarkets is all about. It's just another fake broker deliberately stealing from its clients. It has no access to the market. Otherwise, the trading conditions would have been clearly outlined. What kind of broker can't even answer simple questions about order types in their support? The signals they broadcast on their website supposedly in real-time have nothing to do with the signals in the trading platform. Too many inconsistencies and the absence of a license vividly depict Umarkets as an extremely dubious company that is unsafe to trust with your money.

Umarkets is a fraudulent company that promised profitable trading conditions and assistance but ended up extorting money. I'm a novice trader and don't understand much yet, so my personal manager took advantage of me. At first, following his advice, I opened several orders, and then he said the market had turned temporarily. He insisted that to keep positions and money, I needed to deposit funds for margin. I didn't have the money, so they closed my orders, and the balance went negative. I would've understood if it had happened with one trade, but with all of them at once — that was suspicious. I wanted to compare price charts with other brokers, but I couldn't because they closed my account.

I started trading with Umarkets on the minimum deposit, and for a couple of months, there were no issues. I made regular profits, albeit slowly, using scalping. When I tried to withdraw my first earnings, my request was canceled. The support team informed me that trading using this strategy was prohibited, although it wasn't mentioned in the rules. I received a warning, after which I traded only based on forecasts from other Forex brokers' websites. It didn't go well, so after another month, I decided to withdraw all funds. They refused the withdrawal and blocked my trading account without the right to withdraw funds and without explaining the reason.

Umarkets broker deprived me of all the money I'd saved for Forex investments. Partly, it's my fault for trusting an offshore company without regulatory licenses. I extensively practiced on a demo account and learned various strategies. I understood that on the Mini account, with the highest spreads, I wouldn't earn much trading in my style. So, I took the risk and opened a standard account with a minimum deposit of $5,000. Initially, things were fine, and I decided to withdraw the first earnings of $200, but I never received the money. I called and wrote to support numerous times, only to receive excuses in response. It all ended with my account being closed, and no withdrawal of funds.

Umarkets’ managers persistently called me, convincing me to work with them, promising support, analytics from experts, and forecasts with an 80% probability or higher. As a novice trader, I relied solely on their signals. At first, everything was fine, and I quickly earned around $200 with a $500 deposit in a Mini account. But then, all their signals and forecasts swiftly depleted my balance almost entirely. There were some funds left in the account, so I decided to request a withdrawal to at least preserve them. However, they annulled my request, and the support service stopped responding. I called my manager, but he didn't answer either. Most likely, my number's on their blacklist.

I've been professionally trading cryptocurrencies for over three years, often working with master accounts and on social trading platforms as a signal provider. From the first days of collaboration with Umarkets, I understood they're a fake broker with no access to financial markets. Their quotes don't match reality, and the trading platform raises many questions. I deeply regret getting involved with Umarkets because I wasted a lot of time and money that I could've used for effective trading with other brokers.