UMOFX

About company:

Umo FX offers MT4 trading in currency pairs, gold and silver.

 

The broker is headquartered in New Zealand. UMOFX claims to provide reliable and professional services to clients in the futures, currencies and commodities markets. The professional team has significant experience in investment management.

 

We did not find any information about the broker's regulation, although there is a similar section on the website, however, we did not find confirmation that the broker is licensed by any supervisory authority.

 

All client capital is kept in segregated bank accounts. This separation ensures that customer funds are not used to cover any of the company's expenses.

 

Withdrawals are carried out only from verified accounts.

 

UMOFX has received several awards.

 

Trading platform

The MetaTrader 4 terminal is the most popular in the world. The platform offers trading with various instruments: currencies, indices, futures, CFDs. It provides the necessary tools and resources for analyzing the dynamics of prices for financial instruments, for performing trading operations. The terminal is an all-in-one concept.

 

In addition to a large number of technical indicators and tools, the terminal has its own programming language for trading strategies called MetaQuotes Language 4. This language allows the user to create mechanical trading systems, including advisors (experts), custom indicators and scripts. Advisors can analyze the market situation online, make decisions, issue orders and open positions without the participation of a trader. Custom and technical indicators can analyze the market and generate various alerts.

 

Terms of trade

Transactions are executed using STP / ECN technology. There are several accounts to choose from: Mini4, Mini5, Standart, ECN. Trading is available with a minimum deposit of $ 1. This is the lowest offer in the industry. The base currency in which transactions are carried out is USD.

 

In general, trading conditions on accounts offer similar conditions: hedging, scalping, advisors are allowed, Stop out - 30%, Margin call - 50%, minimum lot size - 0.01. The difference lies in the proposed level of leverage: on Mini4 and Mini5 accounts it reaches 1: 1000, on Standard - up to 1: 400, on ECN - up to 1: 200. This is a fairly high supply in the industry, but traders should not forget that high leverage brings not only big profits, but also big losses.

 

Spreads offered start at 0.3 pips on a Standard account, but charges a $ 7 per lot commission. There are no additional fees for other accounts. Typical spreads for the EUR / USD pair are 2 pips.

 

Bonuses

The broker offers a 100% Mega bonus to all UMOFX clients who have made a deposit of at least $ 100 and have chosen the Mega bonus type. The bonus is paid up to $ 20,000.

 

additional services

In addition, Umo FX offers various tools such as Forex calculator, as well as educational materials (Forex glossary), fundamental and technical analysis.

 

Support service

Available by phone number, e-mail and using the contact form.

 

Ways of payment

For transfers using credit / debit cards, there is a 3-5% fee charged on the payment amount. For deposits or withdrawals using bank transfers, a commission of $ 25-30 is charged. You can familiarize yourself with all payment rates using e-wallets on the website. Besides, Umo FX offers internal transfers from one account to another, they are made without commission.

 

Pros:

 

selection of trading accounts; MT4.

 

Minuses:

 

unregulated broker.