Overview of Universal Markets
Universal Markets, also named UMarkets, founded in 2018 and based in the United States, operates as an unregulated financial services provider.
The company offers a diverse range of trading products including shares, indices, commodities, forex, and cryptocurrency, with a focus on Bitcoin trading. It features several account types such as Mini Forex, Standard, Gold Forex, and Platinum Accounts, and supports a demo account for practice trading.
Universal Markets uses the xCritical Trading Platform and offers up to 1:200 leverage with spreads starting from 1.6 pips. Clients can benefit from services like a welcome bonus of up to 30%, 100% insurance on trades, and no fees on deposits.
Payment methods include VISA, MasterCard, NETELLER, Skrill, and Perfect Money. Customer support is accessible via multiple phone numbers and email addresses, and educational resources provided include webinars, articles, and an education center.
Regulatory Status
Universal Markets have been unregulated, operating in the United States since 2018 without formal oversight by financial regulatory authorities.
This unregulated status means there is less governmental scrutiny over its operations, which can increase the risk for traders due to a lack of formal consumer protection measures and standards typically enforced by regulatory bodies.
Pros and Cons
Pros:
Universal Markets offers a diverse array of financial products including shares, indices, commodities, forex, and cryptocurrencies, satisfying a wide range of trading interests.
The platform provides flexible account types to suit different trader needs, from Mini Forex to Platinum Accounts, and features high leverage options up to 1:200.
Additionally, it supports extensive educational resources, including webinars and an education center, and offers attractive bonuses for new users, enhancing the trading experience for both novice and seasoned traders.
Cons:
Despite its offerings, Universal Markets operates unregulated, posing potential risks due to lack of oversight by any financial regulatory authority.
This concerns traders seeking security and adherence to regulatory standards. The platforms complexity and wide range of options will overwhelm beginners who are new to trading.
Additionally, the absence of live chat support can limit immediate assistance, potentially affecting traders ability to resolve issues swiftly and effectively.
Furthermore, the high minimum deposit required($500) to open certain account types is prohibitive for those with limited initial capital.
Products & Services
Umarkets offers a various range of trading instruments that satisfy various investment preferences:
Shares: Investors can engage in trading shares of well-known companies, which is considered a reliable method for achieving stable returns with moderate risks. This involves participating in the equity markets of large, established firms whose stock performance is tracked globally.
Indices: This option allows traders to invest in multiple stocks simultaneously through major indices, which can amplify the potential for high returns. Indices aggregate the performance of a sector or market, offering a diversified investment approach.
Commodities: Umarkets provides trading in a range of commodities, including energy sources like oil and gas, various mineral raw materials, precious metals such as gold and silver, and different agricultural products. This market segment offers opportunities for hedging against inflation or currency devaluation.
Forex: Known for its high liquidity and 24/5 operational hours, forex trading at Umarkets allows for continuous trading activities in the currency exchange markets. This is ideal for traders looking to take advantage of the constant fluctuations in exchange rates across global economies.
Cryptocurrencies: As a fairly new but rapidly establishing asset class, cryptocurrency trading includes popular options like Bitcoin. It appeals to investors interested in digital currencies and the technological advancements of blockchain, providing a modern take on asset diversification.
Services
100% Insurance: The platform offers 100% insurance on trades, which protects investors by covering losses under specific conditions during trading sessions, especially those marked by significant news events. This feature is aimed at reducing the financial risk while encouraging active trading.
Bitcoin Trading: Umarkets offers specialized services for trading Bitcoin, capitalizing on the cryptocurrency's high volatility to potentially profit from price differences within desired timeframes. This service includes access to advanced trading tools and highly reliable SMS signals, supporting traders in making informed decisions in the dynamic crypto market.
Account Types
Umarkets offers four distinct types of Forex trading accounts to suit various levels of investment and trader experience:
Mini Forex Account: Ideal for beginners or those with limited capital, requiring a minimum deposit of $500. This account allows trading in smaller amounts, making it a lower-risk option for new traders.
Standard Forex Account: Requires a $5,000 minimum deposit, designed for traders with a moderate level of experience and capital, allowing for standard trading conditions.
Gold Forex Account: Aimed at more serious traders with a minimum deposit of $10,000, this account offers enhanced trading features and higher transaction capacities.
Platinum Account: The highest tier offered, suitable for advanced traders with a minimum deposit of $35,000, providing the most various features and the highest transaction limits.
How To Open An Account？
Opening an account with Umarkets involves a straightforward process:
Choose Account Type: Decide which type of Forex trading account best suits your needs—Mini, Standard, Gold, or Platinum.
Register Online: Visit the Umarkets website and fill out the registration form with your personal and financial details.
Verification: Submit necessary documents to verify your identity and residence, as required under KYC (Know Your Customer) policies.
Fund Your Account: Make a deposit according to the minimum requirement of your chosen account type using one of the available payment methods.
Leverage
Umarkets offers a leverage of up to 1:200 across its various forex trading accounts. This high leverage ratio enables traders to control larger positions with a relatively small amount of invested capital, amplifying both potential profits and losses.
Spreads
Umarkets offers competitive spreads starting from 1.6 pips on its forex trading accounts. This spread level allows traders to engage in transactions with relatively low trading costs, which is crucial for maximizing returns, especially in high-volume trading.
Trading Platform
Umarkets provides its traders with the xCritical online platform, designed to enable profitable trading from anywhere in the world.
This platform is complemented by mobile trading options, making financial markets accessible on various devices. The xCritical platform offers a user-friendly interface and sophisticated trading tools, allowing traders to execute trades efficiently and manage their portfolios effectively.
This integration of technology ensures that Umarkets traders can engage with global forex markets flexibly, leveraging tools that support informed trading decisions.
Deposit & Withdrawal
Umarkets accommodates deposits via a range of methods including VISA, MasterCard, NETELLER, Skrill, and Perfect Money. The platform charges 0% fees on deposits to facilitate easier account funding.
The minimum deposit requirements vary by account type: the Mini Forex Account starts at $500, the Standard Account requires $5,000, the Gold Forex Account needs a $10,000 deposit, and the Platinum Account requires $35,000, allowing traders to choose based on their financial capability and trading strategy.
Customer Support
Umarkets provides various customer support through various channels to address any queries or concerns.
Clients can contact the support team via multiple phone numbers:+442037697631,+442080773052,+442037697601 or by email at support@umarketsemail.com and customers@umarketsemail.com.
Additionally, support is available via Skype at umarkets.com. There is also a dedicated claims department, which can be reached at dispute@umarkets.net, meeting specific disputes or issues. This multi-channel approach ensures that clients have accessible and responsive support to assist them efficiently.
Educational Resources
Umarkets enhances trader education through a various set of resources:
Calculators: Offers various financial calculators to help traders plan and assess potential trades efficiently.
Economic News: Provides timely updates on global economic events that can impact market conditions.
Webinars: Conducts live sessions where experts share insights and trading strategies.
Articles and Lessons: Features a library of educational content covering a wide range of topics from basics to advanced trading techniques.
Education Center: A centralized hub for all learning materials, including step-by-step guides and instructional videos.
Glossary: Contains definitions of key trading terms and concepts, helping traders to better understand the jargon used in the trading world.
Conclusion
Umarkets offers a dynamic trading environment with diverse financial products including shares, indices, commodities, forex, and cryptocurrencies.
While it provides robust educational resources and advanced trading platforms, it is unregulated, lacks live chat support, and requires a high minimum deposit, which could be drawbacks for new traders. Its various educational tools and customer support options, however, attract both novice and seasoned traders.
FAQs
Question: What types of accounts does Umarkets offer？
Answer: Umarkets offers Mini Forex, Standard, Gold Forex, and Platinum accounts.
Question: What platforms are available for trading at Umarkets？
Answer: Umarkets uses the xCritical online platform along with mobile trading platforms.
Question: Are there educational resources available at Umarkets？
Answer: Yes, Umarkets provides webinars, articles, lessons, and access to an education center.
Question: What is the minimum deposit required at Umarkets？
Answer: The minimum deposit varies by account type, starting at $500 for a Mini Forex Account.
Question: Does Umarkets offer any bonuses or promotions？
Answer: Yes, Umarkets offers promotions including a 30% welcome bonus and 100% insurance on trades.
