UmoFX.com Review
April 17, 2015: UmoFx has been deregistered from the NZ FSPR. CLICK HERE to verify that it is no longer with the Financial Dispute Resolution Scheme Until this company is registered with a new regulator, the FPA recommends AGAINST doing business with UmoFx.
July 12, 2015: UmoFx's website still falsely claims that it is registered with the NZ FDR. The FPA strongly recommends AGAINST doing business with UmoFx. If you have money with this broker, the FPA suggests you test your ability to withdraw your funds now.
June 2015: There is an FPA Traders Court guilty verdict against this company. The FPA considers this to be one more reason not to do business with UmoFx.
July 2015: There is a second FPA Traders Court guilty verdict against this company. The FPA considers this to be another reason not to do business with UmoFx.
July 2012: The FPA's forums were spammed by someone who signed up using an address at UmoFx.com. A second account was created from the same location spamming for Obox.com.pk, an IB for IkoFx.com. The FPA reported this incident to IkoFx and UmoFx and has recieved no response from the management of either company. The FPA is forced to conclude that the managers of UmoFx and IkoFx think that spamming forums is acceptable.
Click here to see the spam from from UmoFx.com
Click here to see the spam from Obox.com.pk, an IB of IkoFx.com
The FPA advises a very high level of caution dealing with these companies.
Website is down. Company seems to be out of business.
Recent User Reviews of UmoFX.com
All over Forex broker's scammer.
When you earn money,when the time of withdrawal they don't reply anything..
I suggest all over scammer.
2015-05-30 1 Star I have an account with them a MINI4 account, made a deposit of 50$ , made some profit, now trying to make a withdrawal, i was told to wait up to 2 business days, the sad thing here is that i've noticed this review only when i asked the withdrawal,
over all until now this broker's support is very slow, the server and trading conditions are great though..,
i will update if i can get my withdrawal or not.
“The Company has the rights to suspend the Client’s trading account at any time for any good reason with or without written notice to the Client."
So if you are making profits they dont give you the money...
SCAM BROKER WITH CLIENT AGREEMENTS FOR THOOSE WHO ARE LOOSING MONEY!
2015-04-16 No Rating Lets see Im waiting for 8000 $ if they will transfer it to me... On their site is written 48 HOURS but now it is more...
I will let you know about my withdrawal ;)
2015-01-29 2Star I recieved this note from them:
"Dear Client
Currently, our Liquidity Provider (LP) is undergoing a financial restructuring. In effect, any business involving ECN accounts is temporarily being withheld. Specifically, ECN account holders cannot open and close position in trading.
This withholding period is currently unknown until Financial Conduct Authority (FCA) released the final decision. We will keep you informed on any updates regarding this matter.
Best regards,
UMOfx Management
“One stop Markets Centre”"
Anyone else got this email??
Review Moderation Team Note: Please use the Contact Us form at the bottom of the page. We would like to see a copy of that email message. Thanks.
They also not listed under regulation at all anymore!!
But my bank account closed at that time, I already check with my bank and they never receive the funds.
And the funds should be returned to the company
I already send E-mail to their Financial Department to request a bank wire reciept.
And I never got a reply from them.
I also contact with them by live chat. They just ask me to send E-mail to finance@umofx.com and wait for 2-3 days
I keep doing this for many times, still no reply from them
But last month ia have an issue for withdrawal, they never proceed my withdraw for a Month, they told to us, there is a Huge number of withdrawal, so it must be pending for our withddrawal
Please anyone IB or UMOFX owner please respon my problem, pay our money..
this is my account number
BENY RICARDO BANGUN
Trader/Login ID: 655320
Investor Password: DCR8eWAR
I trade with this broker last 1 year, All is good but withdraw process slow.