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.
The FPA advises a very high level of caution dealing with these companies.
UmoFX is a forex broker. Umo FX offers the MT4 online forex trading top platform. UmoFx.com offers over 20 currency pairs, gold, and silver for your personal investment and trading options.