Recently, I decided to find a reliable broker with reasonable trading conditions and specific features, let’s say, a good broker for trading. As a result of a thorough analysis, two companies left including UMarkets. According to the information on the website, the company is pretty interesting but there are just a few real reviews. So, I would be glad to get any additional information about this company.
Now, I watching this broker attentively on different forums. Some like the company, some - don’t. Haven’t noticed any faults while trading on its demo account. On the contrary, I was glad to know that cryptocurrency assets are available on this platform. I’m very interested in this assets.
That’s right. Cryptoassets is one of the reasons why I got interested in this broker. Actually, spread there is pretty high, as usual, but this is just the feature of this asset. However, the volatility is high, which enables to work out the spread quickly.
Umarkets, regulated in Belize.
Steer clear imho
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I didn’t quite understand you…If the company’s regulator is in Belize, it means you can’t trust it? If I got you wrong, please correct me.
Personally, I would only use a broker who is regulated in a country where it actually means something, like the UK or US.
Nothing is 100% certain, but at least I would feel more able to air my grievances there than in some Cypriot or Caribbean authority
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I don’t know much when it comes to regulators, but I think that its’ good when a broker has at least some kind of regulation. But, to be honest, your post perplexed me…
Does the regulator location even matter? It’s good that the broker has one. The main thing is that the broker pays and it speaks for itself. There are some brokers with well-known regulators, but the conditions arehardly affordable. The minimum deposit can be as much as several thousand dollars. And nobody’s going to guarantee you anything 100%.
I have reviewed them in other sites too. There are forums and review sites who have bad reviews of everyone except their own so I check more reliable sites and the reviews for this broker are quite good; especially highlighting their training, the platform, lots of assets for trading to choose from including crypto and fairly fast withdrawal process.
Of course it does
Lets say you live in the UK.
You choose a broker “regulated” in St Vincent
You have a dispute with them or have difficulty withdrawing funds, or they shut up shop without warning. Who do you turn to? Look at the hundreds of posts here where traders found themselves in this position. They got screwed over and no one in authority was interested.
Had you used a UK regulated broker, you could have contacted the FCA, police fraud dept, you might even have contacted your local MP or one of the popular Scam programmes on television.
Of course nothings guaranteed, a lot of the time traders are in breach of the brokers t&c’s, but at least you have some options
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Yes.
Absolutely, definitely.
Loud and clear.
That’s EXACTLY what it means.
You only find out what kind of people you’re dealing with when something goes wrong, and that’s when you need your broker to be well regulated.
There are reasons that dodgy counterparty “brokers” choose to be registered in Central America, the Caribbean, Vanuatu, the Seychelles and Cyprus … and they’re NOT reasons that are designed protect their customers’ interests when something goes wrong! 
It matters hugely.
It matters almost to the exclusion of everything else, in that if a “broker” is regulated in one of the jurisdictions mentioned above, that should completely and immediately rule it out of your consideration, before you even look any further.
No disrespect, Kreg, but you’re not ready to do “thorough analysis” yet, or any other kind of “analysis” either, because you don’t yet know what the factors are that actually matter. And you need to learn that first.
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wow, thank you
So, I think that choosing a broker is like a choosing security system of a car: you don’t need to check only one way to protect a car, u nee to analyse and build a system to protect
About choosing a broker: u also need to analyse many factors before choosing a broker
So, can anyone tell me about umarkets? Is this broker worth paying attention to?
As has already been said above, they are based in Belize. I doubt any honest experienced trader would even consider using them, and neither should you
I’ve traded on umarkets. I actually managed to profit quite well. The minimal deposit amount for a mini account on umarkets is $500. After registration for the first time they offer you a welcome 30% bonus. I don’t use any bonuses, though. The spreads on umarkets are narrow and fixed. There are many assets for trading. Besides the regular account, there’s also an Islamic one.
I’ve traded crypto on umarkets. This broker has 15 cruptocurrencies for trading. To sum up, it wasn’t quite successful, but it’s my fault.
This broker is good for trading crypto with. Spreads are floating for various groups, but it suits me. Fixed spreads for crypt is a very rare thing.
Books like “How to turn $5 into $50 billion” piss me off so much. This one is about W. Buffett. I already know the answer for this question. You just have to be lucky, there’re no other options. And I’m fatally unlucky on Umarkets. I’ve traded with eur/usd. All forecasts predicted the pair’s growth, but it went down and I closed the order with the stop loss with a loss.
I also have no problems dealing with this broker. I passed verification quickly, haven’t withdrawn money yet, but my friends say there are no problems with withdrawls either.
The broker is quite ordinary, but I’m going to try and trade there. I’ll probably start with a demo account.
Anything can happen, of course. Market is the market. I lose this way too from time to time. It happened more often at first. Now I just know that one must be critical about forecasts.