UMOFX

Editorial Rating:
2.75
Accept US Traders:
No

UMOFX.com

United Market Oracle, or UMO for short, is an online Forex broker based in New Zealand. Established in 2010 and offering a platform that’s fluent in Chinese, Indonesian, Malay and English, UMOFX has gained a reputation as one of the best foreign exchange providers in Asia.

Standing as a testament to the site’s growing reputation in the industry is a trophy cabinet full of awards. Recognised by the Global Banking & Finance Review 2012, UMOFX was presented with three awards: Best Forex Management System, Best Forex Program and Best Forex Order Execution System.

Beyond its multi-lingual platform and industry accolades, UMOFX is registered with New Zealand’s Financial Service Providers and subscribes to the FDR (Financial Dispute Resolution). This service is pitched as an intermediary that will help users recoup any unfair losses through trading malpractice or unethical brokering.

UMOFX.com’s Special FX:

From bonuses to education there’s a wealth of interesting features available to traders at UMOFX. Indeed, in amongst the hefty deposit bonus, this broker regular runs trading competitions designed to identify the best traders and reward them with free cash.

However, while bonuses are often fleeting, educational and analytical tools are forever. Indeed, subscribing to saying: “give a man a fish and he’ll feed himself for a day, but give him the means to catch his own fish and he’ll feed himself for a lifetime”, UMOFX has packed its platform with a number of handy aids.

While the site’s comprehensive guide to the Forex world will give users a solid platform to start from, the toolbox will help them take their skills to the next level. Through a variety of mediums, including a live blog, daily Forex news and various calculators, UMOFX is able to offer the aspiring trader all the resources they need to make a profit.

The Essentials:

MetaTrader 4 is the Forex platform of choice for UMOFX and this software gives users the ability to conduct one-click and in-chart trading, apply various orders and stops, customise their platform and receive light market information.
Working in tandem with MetaTrader 4’s provisions are two accounts designed to offer beginners and experienced traders the best conditions possible:

Micro Account:
Minimum account size = $1
Minimum position size = 0.01 lot
Fixed spreads from 2 pips.
Scalping and Expert Advisors are allowed.
Leverage = 1:500
Digits quoted after the comma = 4
Margin call level = 100%
Stop-out level = 30%
Number of currency pairs available = 20

Standard Account:
Minimum account size = $20,000
Minimum position size = 1 lot
Fixed spreads from 2 pips.
Scalping and Expert Advisors are allowed.
Leverage = 1:500
Digits quoted after the comma = 4
Margin call level = 100%
Stop-out level = 30%
Number of currency pairs available = 20

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fxBrokerSearch.com does not support nor encourage the execution of any investments. Trading with a margin is high risk endeavour and not suitable for everyone, therefore, each investor should carefully consider all relevant trading conditions, such as experience, risk and cost, before taking part in any type of trading, including Forex.

While every effort has been made to ensure all our data is as accurate as possible, fxBrokerSearch.com cannot be held responsible for any prices that are not in line with real-time data. Indeed, the currency exchange market is constantly changing and all CFDs (stocks, indexes, futures) and Forex prices are set by market makers.

This means advertised prices may not be accurate and could differ from the actual market conditions. For this reason it is not appropriate to rely on any data presented by fxBrokerSearch.com for the purposes of trading.

Based on these conditions, fxBrokerSearch.com will not be held responsible for any losses incurred through trades conducted in light of data presented on this site.