Umarkets: Can not withdraw

Covid 19 Trader

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I'm starting to think that Umarkets is a SCAM. I needed money because of this Covid 19 outbreak and Umarkets doesn't want to make a withdrawal.
 
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The FPA invited the Original Poster to update this discussion on Mar 31, 2020 at 10:57 AM
 
What reason you are getting by rejecting about them?
1. Their website has a withdraw request feature but that doesn't work for me as it directs me to an account manager.
2. The account manager is explaining that I couldn't withdraw because I was given a bonus...it turns out that the advertised BONUS is not actually a bonus but a CREDIT to be paid by trading more. This is misleading as you are given bonus as you make a deposit.
3. That bonus / credit points does not go along with your losses...I only have $600 (an amount i don't intend to top up as I wanted out from them) now in my account from an original 5 digit number and it says i still have a credit of $6k.

The company even withdrew a certain amount from my credit card without my permission.
 
.....The company even withdrew a certain amount from my credit card without my permission.

--> What bank and country was the debit/credit card issued?

I recommend suspending/pausing/freezing that card account immediately. You may even want to dispute the fraudulent charge as unauthorized. You must say you never authorized it.

--> your original deposit is likely a donation to the company. Read this article to understand why:
 
--> What bank and country was the debit/credit card issued?

I recommend suspending/pausing/freezing that card account immediately. You may even want to dispute the fraudulent charge as unauthorized. You must say you never authorized it.

--> your original deposit is likely a donation to the company. Read this article to understand why:
on the credit card --> that has been reported already.

on the donation --> still the term used is a "BONUS". if their intent is to have it as a donation then they are simply misleading people. nonetheless - it seems like a donation indeed including the remaining $600.

It is a sad experience for me... but I do hope someone like me will be able to get this warning and not commit the same mistake that i did.
 
Next steps:

--> Can you login to the trading platform from your desktop and submit the full account history statement? Use this tutorial: https://www.forexpeacearmy.com/comm...ccount-trade-history-statements-part-1.63543/

Also get all screenshots / video evidence of your account that you can (bandicam / thundersoft screen recorders).

This would possibly include any relevant live chat/email conversation. Or your broker account backoffice (cabinet/client account management panel).

--> If you have any credit cards on file with the alleged scammer (or any payment method that may be compromised), you may consider at least placing a temporary block on the card (or changing the payment pin/ID. This may prevent any further losses.

--> Have you written a review of the company? https://www.forexpeacearmy.com/forex-reviews/11864/umarkets-forex-brokers?per-page=50

--> familiarize yourself with FPA's Traders court rules: https://www.forexpeacearmy.com/community/threads/new-traders-court.58022/

--> You may formally invite the company here: https://www.forexpeacearmy.com/comm...how-to-invite-a-company-to-your-thread.58438/

--> Do NOT abandon this thread. Every week, check back to report any updates from the company and/or respond to any unanswered inquiries.

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--> Please complete all missing steps as soon as possible.
 
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