UMarkets Review
Traders Rating33 Votes1.1
WEBSITE: https://www.umarkets.com
ADDRESS: 5 Cork Street Belize City
EMAIL: support@umarkets.com - customer@umarkets.com - dispute@umarkets.com
PHONE: +442036706439 - +44 203 695 8926 - +501-223-2099
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UMarkets Rating
UMarkets Warning
ASIC warns against the company Maxi Services Belize Ltd and Umarkets.
Have You Been Scammed by UMarkets?

 

 

Umarkets: What is the truth about this forex broker?

 

A problem that many of us are facing is to choose a forex broker that is legit and that is really going to be beneficial to you. There are some really legit brokers that comes highly recommended, and then there are the brokers that are not getting positive reviews, and that makes us scared to use them. Umarkets are one of these forex brokers. They might be a legit broker, but this doesn’t mean that they are recommended or that they are really paying out the profit that you are making. This is the truth about Umarkets.

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They only have a foreign license

 

Yes, Umarkets is a licensed and registered forex broker. However, they don’t have an international license, but just a local one in the country of origin. This can be dangerous and risky to invest in a company that isn’t known as an international, registered company.

It is also known that if a broker only has a foreign license, that they aren’t regulated by regulators. To make sure that they are legit and doing everything according to the law. Meaning that this might be a risk to invest with them.

 

Features about Umarkets

 

One of the features that are making Umarkets and option is the fact that they have different account options. You can choose an account that is best for you and your budget. The problem here is that there isn’t really much information about the different accounts that you can choose. And, it depends on the deposit amount that you are making.

This forex broker is making use of the same platforms as other, legit forex brokers. They are making use of MetaTrader 4. However, one thing that is essential to know is that even if they are making use of a legit platform, this doesn’t make them a legitimate forex broker.

Another feature that Umarkets offer, that not many other forex brokers are offering is a deposit bonus of 30%. However, read your terms and conditions before you are registering with them to get the bonus.

 

The red flags about Umarkets that you should know

 

The first red flag is the fact that they are an offshore company. Meaning that you will not really have any possibilities to get your money back if you were scammed. This is risky, and there are other brokers that are international and that are safe to use.

The deposit bonus is huge. You can’t deposit less than $500 before you can start trade with forex trading. The deposit is huge, and this is making the risk just as huge. Yes, they do offer a deposit bonus, but when you want to withdraw the money, you will realize that it isn’t going to be easy to withdraw the bonus.

The amount of negative reviews that they are getting is also a red flag. If they are legit and trustworthy, why are there so many negative publicities about them? There needs to be a reason for this. Also, they don’t offer a huge variety of payment options. The more popular e-wallet options aren’t available here.

 

Complaints about Umarkets

 

Umarkets forex broker has lots of complaints against them. Complaints about payouts and bonuses. And, their response is that they should have read the terms and conditions or they didn’t even respond to them.

If you are comparing the different complaints versus the different positive reviews, there is a scary thing that you should know. The complaints are a lot more than the positive feedback. Meaning that you have a much higher chance of having problems with them as with other brokers.

 

Conclusion: What is the truth about them?

 

 With all this information, what is the truth? Is Umarkets a legit forex broker, or are they just one big scam? They might be a real forex broker, but they are for sure not really legit. They don’t have an international license, and they aren’t regulated. They have many complaints and as for a huge minimum deposit.

It is important to make sure that you know that Umarkets isn’t as legit as what they want you to think. Yes, they are registered, but with an offshore company. Meaning that your money isn’t safe. They don’t reply to complaints, and there are way too many complaints to see this as a legit and trustworthy company. The conclusion is that you might want to look for another forex broker that is legit, and that have an international license. This is the only way that you can know for sure that your money is going to be safe.

 

 

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Online Trading Scams / 19 Responses / by

Post Author: ScamRecovery

19 thoughts on “UMarkets Review

  • Aneli Sarmiento

    (September 6, 2018 - 9:38 am)

    How will I know if the person I am talking to over the phone is a legitimate broker of umarkets?

  • Rodney Comenta

    (October 2, 2018 - 11:51 pm)

    how will i know if the person im talking over the phone is a liget account manager of umarkets?

  • Paul

    (October 15, 2018 - 11:21 am)

    Just received a call from them but i was able to buy some time. Is UMarket really a big scam?

    • ScamRecovery

      (October 15, 2018 - 12:31 pm)

      Yes Sir

  • Pelagia E. Aguirre

    (October 23, 2018 - 12:26 pm)

    this afternoon today, i talked with someone from Umarkets JdMartin. Since I was too curious about this online trading, I finally agreed to be trained on the basics but have initially capitalized thru metrobank ccard a master card. when he is instructing me to follow to be filled up and since he is on the line, he can capture the nos. of the cc and ccv at the back. the pw to use on the acct was given but later ihave changed it. I dont know if he was also able to capture the new pw while he was online with me. This time, theres another one who accordingly trained me with the details this 8pm but nobody now is calling. i am now scared of the scam, though the cap of 500 dollar is still there on my acct. when i reviewed about 2 hrs ago. Do I have to call metrobank cc to disable my cc and be replaced by a new one and how about thw fund from cc that is being put on the minitrade acct with umarkets. He furthered ask to submit documents like pics of 2 valid ids. electric bill but i t remains standby because am confused. He also instructed me to open a debit card of metrobank, accordingly to credit every withdrawals for the profit. I am not yet done on the latter which is to open debitcard and update information of my acct. Please enlighten me with this matter.

  • Emilia

    (November 19, 2018 - 5:42 am)

    The Broker provides good service. I like the bonus on initial deposit. It allowed me to earned bigger profits. I did not get profits right away; I went through several loss but I was able to learn and develop a strategy with help from my Personal Expert. I have done some withdrawals already and the transaction went thru smoothly.

    • ScamRecovery

      (November 19, 2018 - 7:35 am)

      Stay away from it! The Australian Securities and Investments Commission (ASIC) warns against the company Maxi Services Belize Ltd and Umarkets. UMarkets is regulated by the International Finance Commission IFCOMM, which has been reported as a fake regulator by the Swiss Financial Market Supervisory Authority.

      • Girlie

        (May 2, 2019 - 2:33 pm)

        I was also convinced to deposit 5000 USD aside from the initial 500USD, right now I’m in big trouble on how to pay for all of those deposits. They are now allowing me to withdraw, my financial analyst is Jeffrey O’Brien. Please can someone help me get through with this?

  • Vincent

    (January 29, 2019 - 12:40 pm)

    Just deposited the money yesterday and im waiting for their call by their personal expert ( named christian lee)who i think is 46min late as of this writing..can you really help me retrieve the deposited amount of $500

  • Marichu

    (February 4, 2019 - 4:28 pm)

    Christian Lee from Umarkets is my personal expert, he encouraged me to go for Gold account amounting to 10,000USD, I regret that I trusted this person because he is not worth for my trust

    • Iren

      (May 21, 2019 - 12:42 pm)

      Can I ask what did Christian Lee did that you regretted trusting him?

  • Glenda Gajela

    (February 7, 2019 - 8:03 pm)

    I actually received phone calls from sir Drew Smith and Sir Mark Mendoza in Umarkets…And I am very curious about the legalities of their company. Although I have been submitted my 2 valid IDs to them..And last night we tried to open or used my credit card but we need to transact my bank to open it online…my husband was get mad at me because of that..Is there a possibility to get or use my credit card by them? I really afraid sir…please help me..

    • June Galang

      (March 25, 2019 - 5:29 am)

      good day madam! you said you are receive a call from drew smith and mr. mendoza the are also calling me and persuading me to invest to umarket..which landed me here to make a investigation and see your comment here.

  • Rodel

    (March 16, 2019 - 12:02 pm)

    I invest in umarket worth of 1000usd last december 2018 and i notice my account is going lost and i try to withraw my remaining account they dont allow me thats why i try to search their company and i found a lot of comments that they are scam,can you help me to recover my money? My account manager is joel gomez and jd martinez

  • TeEarl

    (March 18, 2019 - 5:23 am)

    Ias stated in their policy we can still withdraw our money even if we do not reach the turnover amount. They just have to deduct the bonus and the profit gained after using the bonus… But why are they not allowing us to withdraw our money? THATA WHYthey have a lot of negative reviews. Theyre selfish….

  • Marky M

    (April 1, 2019 - 6:35 am)

    I guest, I read enough in the comment section and outside source.. And give me the feeling that I won’t continue my transaction with them.. I have just received a call from them . . Said to receive another later around 5pm….gracias..

  • riza

    (April 30, 2019 - 9:54 am)

    Thank you for posting your comments about Umarket.. i just received a phone call from them. same story as they told to everyone. they are also asking 2 valid IDs, utilities bills, my account nr and etc.. i am curious and search about this company and im lucky i was able to open this page and read your comments. I will not invest anymore and block their number. thank you and God bless everyone.

  • Kyle

    (April 30, 2019 - 7:40 pm)

    Ok i will block them too. Last night we talk over the phone for more than 1 hour he Convince me to put 500$ send him my 2 valid ID and Proof of billing. I said i dont have enough money to invest but he try to convince me again and i said i have a credit card so he ask me if my credit card is with me and i told him was not but actually it was. Im so curious what if i invest and my money will lost. Where should i find him he is from London and im from Phillippines even he is a Filipino how can i give my 100% trust.thank you i read all of this comments.i will not invest anymore..

  • Lilie

    (May 23, 2019 - 3:53 am)

    Anyone here who could help me retrieve my 8500USD investment from Umarkets without paying any services beforehand? I invested that sum of money last January 2019 and was promised to pay or return that investment in just one month, but it’s already my 4th month and still, I wasn’t able to pay those cards. I have been receiving nonstop calls and notifications from the different credit card accounts that I used.

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