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UM Capital Review - is it scam or safe?

UM Capital Review - is scam or good forex broker?

RATING: 1 / 0 REVIEWS UM Capital
UM Capital is an offshore broker. Your money is not safe.


Trading Accounts and Conditions


Trading account Min. deposit Max. leverage Spread
Basic €250 1:200 N/A
Bronze  €5 000 1:200 N/A
Silver  €10 000 1:200 N/A
Gold  €25 000 1:200 N/A
Platinum  N/A 1:200 N/A
Diamond  N/A 1:200 N/A


United Markets Capital (UM Capital) is a Bulgaria-based forex and CFD broker that offers as many as six account types, however it remains unclear how and whether the trading conditions for each of them differ. Apart from their account type and trading conditions, we have serious concerns about this broker and the details will be highlighted below in this review.



UM Capital Advantages


Huge selection of assets

The broker offers trading in wide range of financial instruments, covering various asset classes such as forex, indices, commodities, precious metals, stocks, and some of the most popular cryptocurrencies.


That being said, we always urge our readers to invest only in well-regulated companies. As this is not the case with UM Capital, you’d better select among the brokers from the below link, all of which are reliable and offer trading in a variety of CFDs, including on cryptocurrencies like Bitcoin.


>> Regulated forex brokers offering crypto CFDs <<



Generous leverage

On its website, UM Capital claims to offer leverage up to 1:200 only to professional traders, but when we logged into its platform, we were offered leverage of up to 1:400.  We consider the availability of leverage ratios that high as an advantage, as they will suit all trading styles. However, keep in mind that a higher leverage ratio isn’t always beneficial – it only allows you to take a greater level of risk, which can lead to quick and serious losses.



UM Capital Disadvantages


Not regulated

UM Capital is allegedly a trading name of PM INVEST CONSULT ltd., a company with registered address in Sofia, Bulgaria. CFD providers in Bulgaria have to be licensed by the local Financial Supervision Commission (FSC) or by similar financial authority of any EU Member State. Unfortunately, this is not the case with UM Capital, which means that potential clients of this broker have no assurance whatsoever for the security of their funds.


Furthermore, unregulated brokerages are not authorized to do business on any regulated financial market, such as the EU, Australia, USA, etc. 


Lack of transparent pricing. Ridiculous spreads

The website of UM Capital lacks information on the most important details of its offer - the spreads, and demo accounts are not available either. This is another negative of this broker, as it shows lack of transparency and commitment.


So, we had to open a real account with UM Capital (without depositing any money) in order to log into their platform and see the spreads. In forex, the spreads are measured by the fourth digit, however, this is not the case with this broker. So, the EUR/USD spread is 45 pips, which is ridiculous.



UM Capital `s web platform. Click on the image to view larger



>> Lowest spread forex brokers<<



No access to MetaTrader

Another downside of UM Capital is that the broker does not provide access to the industry leading MetaTrader4 (MT4) platform. Instead, it offers its services on a simple web-based trading platform that lacks many of the advanced features of the popular MT4.


The MT4 is user-friendly, easily customizable, has great charting options, and is especially popular for its automated trading bots (Expert Advisors). This is the reason why most traders know well and enjoy using this trading terminal.


>> Choose a MT4 broker instead <<





We cannot recommend United Markets Capital (UM Capital) for several important reasons. First of all, the broker does not hold a legit license, which means that its clients are open to a number of risks, as most unrefuted financial services providers turn out to be scammers. Second, UM Capital is not transparent with its pricing, but our investigation on the matter revealed that the broker’s spreads are actually ridiculously high.


As usual, our best advice to investors is to deal only with brokerages licensed by reputable financial agencies like CySEC in Cyprus or ASIC in Australia. These companies are subjected to a number of requirements and strict supervision, which provide significant assurance and guarantees to their clients.



>> Trade with a CySEC-regulated broker <<



And finally, here are the highlights of the present review of UM Capital:


Pros Cons
Huge selection of assets No financial regulation
Generous leverage Spreads not disclosed, those on the platform too high
  No access to MT4


Latest news about UM Capital
No news about UM Capital. Check back later.
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