Trading Env.
Company Information
What Is Regulation?
Forex regulation is therefore all about consumer protection. Regulated Forex brokers are less likely to cheat their clients and where such infractions happen, regulators are empowered by the laws of their respective jurisdictions to apply appropriate sanctions.
What is Base Currency?
In the forex market, currency unit prices are quoted as currency pairs. The base currency – also called the transaction currency - is the first currency appearing in a currency pair quotation, followed by the second part of the quotation, called the quote currency or the counter currency. For accounting purposes, a firm may use the base currency as the domestic currency or accounting currency to represent all profits and losses.
Broker Types
There are two types of brokers: regular brokers who deal directly with their clients and broker-resellers who act as intermediaries between the client and a larger broker. Regular brokers generally are held in higher regard than broker-resellers.
What is Trading Platform?
A currency trading platform is a software interface provided by currency brokers to their customers to give them access as traders in the Forex markets. This may be an online, web-based portal, mobile app, a standalone downloadable program, or any combination of the three.
Trading Services
What Is Hedging?
Hedging with forex is a strategy used to protect one's position in a currency pair from an adverse move. It is typically a form of short-term protection when a trader is concerned about news or an event triggering volatility in currency markets. There are two related strategies when talking about hedging forex pairs in this way. One is to place a hedge by taking the opposite position in the same currency pair, and the second approach is to buy forex options.
What Is Scalping?
Scalping in the forex market involves trading currencies based on a set of real-time analysis. The purpose of scalping is to make a profit by buying or selling currencies and holding the position for a very short time and closing it for a small profit.
What Is Indices?
The indices track the underlying prices of the currency pairs within that index. If the individual forex prices in that index increase, then the value of the index will go up. Conversely, if the individual FX prices decrease, then the value of that index will fall.
What Is Commodities?
The commodity pairs, or commodity currencies, are those forex currency pairs from countries with large amounts of commodity reserves. ... Traders and investors looking to gain exposure to commodity price fluctuations often take positions in commodity currency pairs as a proxy investment to buying commodities.
Suitable For
Trading Account Options
Forex Leverage
Leverage is the use of borrowed funds to increase one's trading position beyond what would be available from their cash balance alone. ... Forex traders often use leverage to profit from relatively small price changes in currency pairs. Leverage, however, can amplify both profits as well as losses.
What Is Mini Account?
A forex mini account is a foreign exchange (FX) account which allows beginner traders to enter the currency market using smaller size (mini lot) positions and trading quantities, thus lowering the funds at risk and limiting potential losses.
What Is Segregated Account?
Segregated account is an important term in the context of Forex trading in which a broker holds their client funds in segregated (separate) accounts that are different from the broker's core banking account. Segregated accounts are used to differentiate between the broker's working capital and its client investments.
What Is Managed Accounts?
A managed forex account is where a professional trader/money manager manages the trading on the clients' behalf. The account is made up of a personalized portfolio owned by a single investor. The portfolio and account is handled accordingly to the investors needs.
What Is Islamic Account?
An Islamic Forex account is a halal trading account that is offered to clients who respect the Quran and wish to invest in the Islamic stock market following the principles of Islamic finance. ... As Sharia law prohibits the accumulation of interest, traders with Islamic accounts do not pay or receive interest rates.
Payment Methods & Transaction Fees
Deposit Methods
Withdrawal Methods
Gateway Fees
| Gateway | Fees |
|---|---|
| Skrill | 2.99% + $0.30 per transaction |
Spreads & Commissions
Customer Support
Advantages & Disadvantages
Advantages
- Commission-free trading accounts option available.
Disadvantages
- Low Trust Score rating (20/100); trade with precaution.
- Unregulated broker operations - higher potential security risk.
- No Demo account offered for strategy testing.
- Restricted service - does not accept traders from the USA.
Active Bonuses & Promotions
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User Reviews & Feedback
62 Comments
It’s unfortunate how these scammers even try to sleep at night knowing they stole someone hard earned money. I lost $15,000 in USDT due to the guy I met on Telegram group. He claimed to be a broker and has been trading for sometime now. Convinced me to invest hoping I will get 35% of my investment in 14days time but I was asked to pay money to be able to withdraw my capital. Even after I paid I wasn’t able to. A friend of mine recommended Scott Wilfred HACKER who not only recovered my USDT but also reviewed all their info that assisted the Interpol to get them arrested. All thanks to Scott Wilfred . Here is where to reach him Email : wilfredscott912@gmail.com
It’s an old reliable broker that has been working in the market for a long time. There have been no disputes with them in three years. They have many instruments for trading and a user-friendly platform. They always withdraw profits on time, but sometimes you have to wait up to 7 days. In my opinion, 8 points out of 10.
This broker is one of the best to date. Good spreads, a wide range of assets, and good customer service. Yes, there are sometimes delays in depositing (very rarely) and withdrawing funds – up to seven days, but in general, there is nothing to complain about. I don’t plan to change a broker.
This is a very positive platform from Umarkets, it offers its users many tools, as well as very serious administration, which makes the site very secure and easy to manage. The broker satisfies my tastes, and his deposit is $ 500. I find the minimum interesting