UMOFX Discussions

In this thread we will discuss about the UMOFX Broker. I will share my experience here with this broker and would appreciate if you guys discuss the Pros and Concerns about them so that we can get more benefits from them.

I have been trading with UNITED MARKET ORACLE INTERNATIONAL LIMITED (UMOFX) Registered NZ Limited Company Located at “Level 10, 17 Albert St, Auckland Central, Auckland, 1010, New Zealand” from some time and quite satisfied with their services. It is good to know that I am investing my money in a Registered Company which gives me a feeling of safety and satisfaction. You can also check the Registration Details here.
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Am I wrong, this broker has only 4 Digits account?

The micro and and standard account at UMOFX are 4 digits with leverage upto 1:500.

Being a registered broker in NZ doesn't mean you are covered if the broker gets into financial difficulties. 18000 likes on their Facebook page I very much doubt they didn't have to pay for that. Also the awards they won from Global Banking Review whoever they are also awarded Etoro as having best platform and FXDD as being most trusted broker in europe. I think those winners sums up the quality of the brokers that can win these sub-par type of awards.

Best to stick to reputable brokers in Australia, US and UK.

Happy Trading.

I respect your opinion but it is a new Broker and it takes time to get in competition with top brokers who are present in market for many years. UMOFX is doing fine and I am not having any problem with them. They are making quick progress and will do more good things in future.

I really like the IB partnership Program of UMOFX as we can earn a steady stream of compensation for Introducing Broker (IB) partnerships.

They are currently offering offer 2 types of Introducing Broker (IB) partnership:

1 - Introducing broker - IB will receive 1pips rebate from their direct clients trading activities.
2 - Social IB - IB will receive rebate from each trade made by your clients and other clients registered under your clients.

Level 1 - receive 50% rebate
Level 2 - receive 30% rebate
Level 3 - receive 20% rebate

Just check the graphical examples and it will be more clear to you.

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After opening Live account we need to upgrade status to IB/Social IB and upon the completion of registration need to add our site for pre-moderation. We will receive agent link after being endorsed by UMOFX, it is our unique link to register clients.

It is a really good opportunity for me to make some extra money and you can also do so.

Happy Trading

Agree with you,..

I have noticed that many Brokers are not allowing the traders from United States. So the clients from the US keep looking for Brokers that allow traders from this region. I am trading with UMOFX and it is good to know that they Welcome clients from United States that is a plus point for any broker.

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I am noticing that many brokers are giving huge leverage of about 1:2000 and 1:3000 but what about margin call levels? At UMOFX, The maximum leverage is 1:500 which is also a very decent leverage and they also offer Margin call 100% so it will same at this leverage level like with Leverage of 1:3000. I like this 100% margin call feature and many of the others trader will also like it.

Nowadays, many brokers are offering Micro and cent account but what is best for UMOFX traders is that they can trade in one cent while many broker require almost 11 - 15 cent to make a minimum lot size trade.

Moreover all accounts in UMOFX are No Dealing Desk (NDD). Maxmimum broker for cent/micro accounts offer Dealing Desk But UMOFX is NDD which is simply great.

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UMOFX provides varieties of trading accounts to suit clients globally. All trading accounts are tradable on the MetaTrader4, up to 20 currency pairs and tradable commodities such as gold and silver. Likewise, UMOFX authorize its customers to fully utilize Expert Advisor trading tools on its MetaTrader4 platform.

UMOFX offers 4 account types:

Demo Account
=> This account is advisable for beginners who are totally new to the Forex market. The objective of this trial account is for beginners to get used to both MT4 trading system and the live Forex market as a whole. Getting virtue cash to trade is a vital step to raise beginners into a veteran Forex trader.

Micro Account
=> Appropriate for traders who wants to start with small deposits, as low as $1 USD and trade volume as low as 0.01 lot per position. Traders can enjoy up to 500:1 leverage offer. This account type is mainly 1% the value of Standard Accounts, which means that transaction of 1 micro lot is $1000 USD. But it can only accept initial or total deposit limit up to $10,000 USD. However, if the deposit is above, it will be automatically changed to Standard Account.

Standard Account
=> Reflects the real world of Forex trading and is strongly recommended for professional merchants. Its leverage offer is up to 500:1, each minimum transaction should be 1 standard lot equivalent to $10,000 USD. It also provides online trading education materials, trading tools and economic calendar, and Forex news to assist traders to succeed in their trading performance. In all, the account offers the absolute trading area for traders to fully utilize their trading aptitudes and tactics that results to successful trading.

ECN Account
=> Here, clients trade similar to mini account. The only special feature of this account is spread free, which means no spread will be charged on every trades but an amount of commission will be induced to the transaction depends on the lot size, profit and currency pair traded.

I am pointing toward a major problem about Mini/lite/micro account

Always you will see many broker offer Mini/cent or micro account with low deposit. But 90 % brokers Mini/cent or micro account is dealing desk. It means they do not offer to client direct trade with Bank. And client face many problem with them Clients not understand it because they fail to compare in this matters. Many brokers offer mini type account low deposit $1 - $10 But they all are dealing desk. Client face many problems like when client try for close profit trade some time that trade is not close and show "requotes" and client loss there some profit.

UMOFX offer 2 type account Micro Account and Standard Account. All accounts are NDD — No Dealing Desk. Micro Account minimum deposit $1.

If you check many brokers offer low balance Leverage 1:3000. Some clients impress for it and they do deposit there. But it’s not good. Because if you check who do offer Leverage 1:3000 them Margin call very low 40% - 60 %. So it is not a benefit because Margin call very low 40% - 60 % that means Leverage work same 1:100 - 1:400 . Maximum time Clients not understand it because they fail to compare in this matters.

Example : A famous Broker offers Leverage 1:2000 with low balance. Its means when account balance will up then automatic Leverage will 1:400. Basically they provide Leverage 1:400.

But UMOFX provides always Leverage 1:500 also Margin call 100% its means Leverage work same 1:1000 - 1:2000. So UMOFX is much better than those Brokers who are providing 1:1000 , 1:2000 and 1:3000 leverage.

UMOFX Bonus on Deposit

- 20% of your deposit as bonus, up to 2000 USD!
- Trade with us now and enjoy this amazing reward from UMOfX

In addition to UMOFX newly launched fiesta, an amazing bonus equivalent to 20% of the deposit will be given to those who will invest funds into a new live trading account, for a maximum bonus of 2,000 USD (applicable to all types of live trading account including mini account and non-swap account).

Formula:
UMO Bonus = Deposit multiply by 20% (maximum up to 2000 USD)


Example 1: You deposited $5,000 USD to your new trading account. Therefore you are automatically entitled to a bonus of $1,000 USD. ($5,000 USD x 20%=$1,000 USD)

Example 2: You deposited $15,000 USD to your new trading account. You will enjoy the bonus of $2,000 USD still. ($15,000 USD x 20% = $3,000 USD but the maximum bonus is $2,000 USD only)

I am sharing a very important announcement made by UMOFX which is good for all clients.

UMOFX Now Regulated by FSPR New Zealand

UMOFX hereby proudly announce that on 10 April 2013, United Market Oracle International has been officially registered as a Financial Service Providers Register (FSPR). Our FSPnumber is FSP277305 in which we are now regulated and monitored by New Zealand Government directly through the FSPR.

Along the registration with FSPR, UMOFX has become a member of financial dispute scheme with Financial Dispute Resolution (FDR).

It is always good to know when you are trading with a Regulated Forex Broker. I am very happy to be a part of UMOFX and many others also feel more satisfaction and security by seeing this regulation.

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I was looking at the Awards page of UMOFX and found that they have been awarded as Best Forex Order Execution System Asia 2012 by Global Banking & Finance Review.

At UMOfx, with the help of experienced qualified staff and technology the best order execution system has been formulated that has won hearts of many. This has been proven as all clients are satisfied with UMOFX's execution system. UMOFX team will constantly endeavor to provide a high quality services to ensure that our clients enjoying an excellent trading conditions and services.

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Most of the brokers provide bonus when the client make a deposit but this offer is for new clients so they can benefit from this only once.

At UMOFX, Every client has the right to receive the deposit bonus for his first 5 trading accounts. A minimum deposit of $100 USD is required.

The maximum amount of bonus will be $2,000 USD per account and total of $10,000 USD per client.

UMOFX is giving 20% bonus on each deposit you made to your new trading account which is simply amazing and you can benefit yourself with increased equity.

So Deposit now and Enjoy bonus upto $2000

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The number of advantages are increasing day by day with UMOFX. Just look at these advantages and take action to get benefit at UMOFX.


---> FSP Regulated Broker - FSP Registration Number: FSP277305

---> Leverage up to 1:1000

---> Spreads as low as 0.2 pips on EURUSD

---> All the accounts are NDD – 3 accounts offer Market Execution

---> Start trading with minimum investment of $1

---> Deposit Bonus up to 30%

---> Expert Advisors, Scalping and hedging allowed


UMOFX is just giving everything according to need of different types of traders and it is worth trading with them.