Umarkets: cheating traders. Umarkets broker reviews
17 / 08 / 22
Visitors: 1318
Companies providing intermediary services in the Forex market are constantly emerging. In order for customers to understand who they can trust, our experts have prepared a review of Umarkets, which offers services in the UK.
Our specialists studied the umarkets.biz website, data from open databases.
Umarkets.biz website - overview
umarkets.biz - a standard official site with a minimum of data. A potential client is immediately offered to get acquainted with the tariff plan, register a personal account and "earn".
Contact details - phone number and address.
No data was found about work experience, existing contracts and regulatory papers, ways of cooperation with traders.
Also, for the review of umarkets.biz, our staff studied the information about the domain name. It turned out that it was registered for less than thirty days.
More information can only be found by registering an account.
Because of this, we can safely say that very little data has been published on the official website umarkets.biz, which certainly creates doubts.
Umarkets overview - the specified address of the organization
Having checked the address indicated on the umarkets.biz website, our specialists found many publications about illegal actions, also related to fraud in the Forex market.
Our employees did not find confirmation that a legitimate company is located at the indicated address published on umarkets.biz.
In addition, there are concerns that the indicated address of Umarkets is not located in the UK, where the organization offers its services, but in another country.
Umarkets overview - phone number
After examining the phone number, our experts found references to its use in fraudulent activities. Previously, the phone number was also used by criminals who pretended to be Forex brokers.
Umarkets review - reviews
An essential component of the Umarkets review is the study of references on the Internet. On the umarkets.biz website, our experts found several formulaic, fake reviews with fake photos and fictitious names.
In the search engines, the results showed our staff a significant number of negative mentions and reviews of umarkets.biz.
Most often, users report the inability to receive their investments, the disgusting work of the service, and the impolite behavior of the administration.
Accordingly, if you look at the reviews on the Umarkets network, they are criminals.
Bonuses for registration from Umarkets
Most of the time, newly formed Forex organizations offer gifts to new people for creating an account. Most often, these are various positive little things, for example, advice from analytics specialists. And yet, on the umarkets.biz website and in promotional materials, our employees revealed information about gifts in the amount of the first deposit. It must be kept in mind that these are deposits that an online broker provides people to work on the Forex market, and not invented coins that do not go beyond the system.
This is quite suspicious because with such bonuses, the period for receiving profit from the user is delayed, with serious expenses.
Theoretically, we can conclude that the reason is the amazing generosity of Umarkets, but in fact everything is much simpler. Investments are not withdrawn outside the system, since all the work of umarkets.biz is a scam.
Account types for umarkets.biz
On the umarkets.biz website, you can find many types of accounts that differ not only in the features of work, but also in the size of the minimum deposits. This is a standard technique for motivating people to spend heavily, buying a premium account type.
Traders can be sold individual expert assistance, insured trades, access to insider information. However, all this is manipulation, needed only to extract funds.
You should know that no matter how much money you invest, they will go to scammers, as umarkets.biz are scammers.
Leverage
Leverage is a common trading tool on the Forex market, which allows you to conclude transactions for an amount significantly larger than the client has. The missing deposits are dealt with by an online broker. Companies that offer their users the opportunity to make transactions with high leverage are at serious risk, because of this they allow this option only to experienced traders. But Umarkets are criminals, so they use leverage to drive their users into negative territory and demand payment of a fake loan.
Time to refund
Users conduct transactions in the Forex financial market in order to make a profit. Of course, this is not feasible without the withdrawal of investments. Accordingly, the question arises: "what are the terms for receiving money from umarkets.biz"? On the site, our employees found information that the withdrawal of money occurs in an instant and without commissions. In practice, even reputable, registered online brokers do not always give such working conditions. What is the setup?
The fact is that Umarkets are criminals and are not going to provide traders with the opportunity to withdraw funds. Therefore, Umarkets will offer attractive conditions. But all their oaths are lies.
The reviews were written before they started working
As our experts have already reported, the Umarkets website has been registered for less than thirty days. However, on popular sites, you can find reviews that are two months old.
Most likely, before launching the scam, Umarkets specialists ordered custom mentions on well-known resources so that traders get the feeling that the brand has been operating for many months.
Some of the reviews about umarkets.biz:
- When did you meet free cheese? They are full-fledged thieves, Umarkets promise excellent income and excellent conditions, but in the end they will divorce you and run away with your savings.
- Have you checked Umarkets documents? It is worth starting to delve into their history, it will be clear that they are scammers. Do not think to cooperate with them.
- I thought where to really see the reliability of brokerage work in the Forex financial market. umarkets.biz pushed me to cooperate on excellent conditions, I was very worried until I found comments, I’m definitely not going to contact scammers.
- I spent 400 € here, it seems not much, nevertheless, one way or another, a nasty sediment. For some, this is money, my advice to you is not to cooperate with Umarkets.
Umarkets review - trial period
There is no test access to the service on the official website of umarkets.biz, which allows you to understand the level of services provided.
Umarkets managers want the client to immediately transfer their personal data to them and transfer the smallest payment.
Umarkets overview - withdrawal
From a formal point of view, the user's investment withdrawal is carried out using a form on the Umarkets website. It makes one doubt that a user can use it without a registered account. Therefore, the appeal will be checked manually, which is unrealistic with a serious number of clients.
We have concluded that this form is only intended to show future victims that it is possible to withdraw funds, but in practice this does not work.
A complete list of unscrupulous brokers, that we do not recommend working with is available here.
