Umarkets-Overview of Minimum Deposit, Spreads & Leverage

General Information & Regulation

Umarkets is a company that is registered in St Vincent and the Grenadines but they are not regulated by any authority. This is a huge red flag for most experts and professionals who would not trade with an unregulated broker.

Market Instruments

Umarkets provide a variety of different asset classes for you to choose from including: Forex Trading, Cryptocurrencies Trading, Shares Trading, Indices Trading, commodities trading.

Minimum Deposit

Umarkets features four different forex trading accounts: Mini Forex Account, Standard Forex Account, Gold Forex Account, and the Platinum Forex Account. The minimum initial deposit for a basic account is $500, a high amount for most regular traders.

Leverage

In terms of trading leverage, the maximum leverage level offered by this broker is 1:200 for forex trading. Since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders.

Spreads & Commissions

When it comes to spreads and commissions, the spread on the EURUSD pair offered by Umarkets is 1.6 pips, consistent with the industry standards.

Trading Platform Available

Umarkets traders can choose between the industry standard forex trading platform MetaTrader 4 (MT4) and the xCritical platform. Both platforms are available for desktop, as mobile trading applications and a web terminal that runs directly in most modern web browsers without the need to download or install any additional software.

Deposit & Withdrawal

Umarkets have a limited selection of methods for depositing and withdrawing funds, including bank wire, credit/debit card and online payment systems such as Neteller and Skrill. Some fees may be charged when using certain payment methods.

Customer Service

The Umarkets support specialists are available 24/5 to answer all your questions and to instruct you on how to make the most out of the brokers trading platform. If you have any questions or suggestions, you can contact them via phone, Skype, email, chat online or fill out the form on the brokers website.