Umarkets

Trading Platforms

As for the trading platforms supplied by Umarkets to its clients, there are 3 main types, the Umarkets WebTrader, the MetaTrader 4 platform and the mobile trader.

WebTrader

As its name implies, the WebTrader is a web based trading platform that requires no software download or installation. Overall, the web platform is user friendly and fast. Trades are executed in milliseconds you have access to a wide range of trading tools. Other features of the web platform include one click trading and full online reporting for every transaction made.

MetaTrader 4 Platform

In addition to the WebTrader, Umarkets has also provided its clients with the industry proven MetaTrader 4 trading platform. The platform is widely used in the online trading industry and comes with integrated trading tools. However, the trading platform is especially well known for the fact that it is able to support automated trading. With the use of programs called “Expert Advisors”, you can set the MT4 platform to automatically execute trades based on your predefined trading parameters.

Mobile Trader

Apart from the web and desktop platforms, Umarkets has also made the MT4 platform available as a mobile trading app which smartphones users can download onto their phones or mobile devices. The app when installed will allow Umarkets’ clients to manage their trading accounts as well as trade the markets directly from the palm of their hand.

Trading Markets

Overall, Umarkets provide traders with access to 5 different markets, Indices market, Share market, forex market, commodity market and cryptocurrency market. Before you can start trading in any of these markets, you will be required to open a live trading account with the broker. There are 4 different types of trading accounts to choose from at Umarkets. The beginner account called the “Mini account” required a minimum deposit of $500. You will be able in stocks, forex, commodities and cryptocurrencies with this account. The other 3 types of accounts are the “Standard account”, “Gold account” and “Platinum account”. Their minimum deposit requirements are $5,000, $10,000 and $35,000 respectively.

There are no commission charges on the trades that are made through Umarkets’ trading platforms. As for applicable spreads, these depend on the type of asset traded, the trading account and the platform used. The spreads for the Webtrader are fixed whereas spreads for the MT4 platform are variable. With the benchmark EUR/USD, the fixed spread is as low as 1.3 pips. However, if you were to opt for variable spreads, the spread for the EUR/USD starts from as low as 0.5 pips.

Support

The support services at Umarkets are available 24 hours a day 7 days a week. You can get in touch with the support staff by leaving a message on their web contact form, through email, or chat with them on live chat, Skype or call them directly on the telephone. Curiously despite serving an international clientele base, Umarkets does not have any multi-lingual customer support service in place.

Security and Fairness

In terms of the security offered by Umarkets to its clients, the broker is a regulated entity under the Belize International Financial Services Commission. In addition to the oversight provided by the IFSC, Umarkets is also a member of the Association of Russian Banks (ARB) and the Association of Regional Bank of Russia (ARBR). These two organizations require their members to conduct their business operations in a transparent and professional manner.

In the event of a dispute between a client and Umarkets, the client also have the option to refer the dispute to the Financial commission which is an independent body that tries to resolve any dispute in an impartial manner. With all these safeguards in place, Umarkets has been able to gain their trust of its clients over the years that it has been operational.

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