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Umarkets

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Operating status: SCAM

Website: https://umarkets.ai/

Broker violations and abnormal records
  • 2020-07-30 The FCA Added Umarkets to Its Warnings

    On 31 July 2020, the FCA released a warning that Umarkets has not been authorised to carry out financial services and products in the UK, you may visit: https://www.fca.org.uk/news/warnings/umarkets

    On 31 July 2020, the FCA released a warning that Umarkets has not been authorised to carry out financial services and products in the UK, you may visit: https://www.fca.org.uk/news/warnings/umarkets
  • 2022-02-27 BrokersView has reviewed that Umarkets is an unregulated forex broker

    Umarkets claims it is regulated by the IFMRRC, but IFMRRC does not regulate any financial derivatives services. So Umarkets is actually not regulated by any regulators.

    What's more, the FCA issued a warning that this firm has not been authorized to provide financial services or products. If clients invest their funds into this firm, they are unlikely to get their money back if things go wrong. In other words, investors' money in this broker is unsafe and cannot be protected by any law. Therefore, it is a scam.

    Umarkets claims it is regulated by the IFMRRC, but IFMRRC does not regulate any financial derivatives services. So Umarkets is actually not regulated by any regulators.What's more, the FCA issued a warning that this firm has not been authorized to provide financial services or products. If clients invest their funds into this firm, they are unlikely to get their money back if things go wrong. In other words, investors' money in this broker is unsafe and cannot be protected by any law. Therefore, it is a scam.

Related Complaints

Q&A Complaints

Is Umarkets a safe trading broker?

Raja
Luxembourg
2022-06-10
ANSWER Umarkets is not a licensed or regulated broker even though it states offers that look good to be true. Umarkets claims it is regulated by the IFMRRC, but IFMRRC does neither issue licenses for forex trading nor regulate any financial derivatives services. What's more, the UK Financial Conduct Authority (FCA) issued a warning that this firm has not been authorized to provide financial services or products. You can check the full warning from here.The truth is, Umarkets is not overseen by any regulators. That means investors' funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Umarkets and trade with licensed brokers.
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