UM Capitals Review: It Gives You the Truth on This Scammer

Scammers like UM Capitals are the worst ones. They give you all the information, contact details, account types, and location, and many traders fall for this trick. However, we are here to cut beyond the facade and show you the real face of this scammer. Our UM Capitals Review will tell you all you need to know to protect your money. Let’s start!

Regulation Info

First on the list – UM Capitals regulation. Short for United Markets Capital, this broker claims to be based in the UK, which puts it under the FCA jurisdiction. Thankfully for all of us, checking their register is the simplest thing in the world. Unfortunately for the scammers, their name did not show up in our search, and we know that UM Capitals is 100% unregulated!

The license, especially the FCA one, is one of the strongest regulations in the world. It requires a broker to check so many boxes before getting the trading authorization, which is why FCA is a Tier-1 regulator. Since UM Capital does not have an FCA license, they are highly dangerous and we strongly advise you to avoid them.

Why is Regulation Important?

The regulation does several things for you as a trader. Firstly, it ensures your money will be safe, by imposing strict rules on the brokers. If they try to steal it or meddle with it in any way, they will be severely punished by the regulatory body.

Secondly, authorities set exhaustive requirements every broker must meet to obtain a license. Those include high minimum operational capital, setting low leverage, small minimum deposits, no deposit plans, etc. Regulators know Forex is a risky market on its own, so they want to minimize additional risks you expose yourself to.

UM Capitals Profile

The UM Capitals platform has some nice things to offer. Firstly let’s cover their trading platform. The broker uses a Webtrader compatible with MT4, which is not the best situation in the world. Although traders can integrate the platform with MT4, we still would not trust it because in its core we are talking about an easily manipulated Webtrader.

Next, we have UM Capitals account types, and there are four of them:

• Starter
• Advanced
• Expert
• Fusion

The UM Capitals minimum deposit is $250, and you only pay it for the Starter account. You get a 1:500 leverage with each and varying lot sizes, levels of education, etc.

As far as the financial instruments are concerned, you can trade only Forex pairs, commodities, and indices, which is somewhat disappointing.

Is This Broker Safe?

In its essence, UM Capitals is not too different from TradeVexo or TradevarFx. After all, they are all scammers, just in different sizes. UM Capitals does not have a valid license, meaning you would be exposing yourself to significant risk if you invest with them. Hence, we do not advise you to do anything like that.

You are far better off finding a reliable broker and doing business with them. Lucky for you, we know where you can find them, so contact us today for free consultations, and find out what brokers we would recommend to you.

Trader Reviews – Sharing Experiences

The trader reviews section gives us a clear picture of UM Capitals and confirms our claims of scam. You can find them on Trustpilot with a 1.9 rating and 20 total reviews. The vast majority of experiences are extremely bad, which is the reason behind 90% of 1-star reviews.

A dissatisfied Ausie had this to say about the scammer:

“Stay away from this mob. Glorified car salesmen dressed up as investment experts. Scam, scam, scam! They’ll (plead) you to grow your contributions yet as soon as you don’t seem to return the interest they roll your account over to an automated investment process that’ll just fritter it away.”

Another reviewer tells us more about their tactics:

“They will call you many times to assist you” only until you deposit money. After you stop depositing more and more money, they will ghost you, not returning calls or emails. The only time they ever picked up the phone, after many times of trying, they immediately hung up on me after hearing my name…”

How Does the UM Capitals Platform Reach Clients and Who Are They?

According to the reviews above, and some others, we understood they mostly target people in:

• Brazil 
• United States 
• Kuwait 
• Malaysia 
• Oman

You saw that the broker uses classic scammer tactics, so if they reach out to you and make you unrealistic offers, walk away!

Deposits and Withdrawal Methods

We encountered an alarming problem when researching their deposits and withdrawals. The broker hides this data behind a login page, meaning you cannot know what payment methods you can use before creating an account.

On the other hand, there is no UM Capitals withdraw policy, which would give us information about UM Capitals fees, withdrawal methods, trading volume requirements, etc.

All the above is extremely alarming because the broker is restricting your access to essential information you need for trading. From this example, you can see where the broker’s true intentions lie.

Reasons To Avoid This Company

Remember what we said about TradesWiser? Well, that applies to UM Capitals too. Trading with unregulated brokers is a huge mistake that you will pay dearly for. No license means no safety, and you do not need added danger in an already risky market.

Long Story Short – UM Capitals 

In our UM Capitals Review, we presented you the real broker behind UM Capitals and hopefully, you will know to avoid them. The only good option for you would be to choose a reliable broker with a reputable license. We want to help you with that, so reach out to us today, and let’s start your Forex adventure in the right way.

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