Trading platform verification

[Jercyhora2]

Hey, I just want to ask help on verifying this trading platform umarkets.com

Someone sends me a recommendation thru messages on Facebook after having a little conversation she recommend me her using trading platform.

But I'm not sure if it is worth to deposit $500 (minimum deposit)

Is there anyone who's familiar with this?

umarkets.com

[1715371730]

1715371730

[1715371730]

1715371730

[1715371730]

1715371730

[1715371730]

1715371730

[1715371730]

1715371730

[mk4]

A random person on Facebook out of nowhere recommended you to use a trading platform, whereas to use the platform, you'd obviously need to deposit money. Shouldn't that itself be a huge red flag?

Anyway, a quick Google search gave me these results:

• https://www.reddit.com/r/Scams/comments/ajxwe4/my_mother_got_scammed_via_umarkets/
• https://www.reddit.com/r/phinvest/comments/ajyetv/help_my_mother_got_scammed_via_umarkets/
• https://www.reddit.com/r/Philippines/comments/b6yzx7/to_all_umarkets_forex_victim/

It's probably a scam that's mostly targeted to Filipinos.


EDIT: Yep. Checked your post history and you also hang out on the Pilipinas section. I personally wouldn't touch that platform with a 10-foot pole.

[Jercyhora2]

A random person on Facebook out of nowhere recommended you to use a trading platform, whereas to use the platform, you'd obviously need to deposit money. Shouldn't that itself be a huge red flag?

Anyway, a quick Google search gave me these results:

• https://www.reddit.com/r/Scams/comments/ajxwe4/my_mother_got_scammed_via_umarkets/
• https://www.reddit.com/r/phinvest/comments/ajyetv/help_my_mother_got_scammed_via_umarkets/
• https://www.reddit.com/r/Philippines/comments/b6yzx7/to_all_umarkets_forex_victim/

It's probably a scam that's mostly targeted to Filipinos.


EDIT: Yep. Checked your post history and you also hang out on the Pilipinas section. I personally wouldn't touch that platform with a 10-foot pole.

Thanks for the response, yes it seems it is a red flag. They trying to contact me and to explains that I can earn even the market has no movements. How cool is that LOL

[mk4]

They trying to contact me and to explains that I can earn even the market has no movements. How cool is that LOL

Yikes. Just to be sure, I suggest informing your family members about this scheme as at it seems like it's spreading like wildfire; probably through group chats and such. Taking note that our filipino friends and family are mostly easily deceived by these things. 🇵🇭

[nelson4lov]

I just checked the website and it looks like a platform that helps people to trade on the forex markets. In my experience, such platforms (not just umarkets) are no good. In forex, only a few brokers/platforms are what they say they are. So I would be extremely cautious with stuffs like this. On Facebook, crypto/forex related platforms, people post all sorts of website but it's best to ignore all.

If you still want to trade, go for proven forex brokers even though they don't have everything you're looking for.

At the end of the day, the devil you know is better than the angel you don't know.

[The Cryptovator]

I even do not like to click such as links which is provided by some unknown person or sources. Don't trust anyone from FB, telegram or from any other social media. What I believe most of users of this forum using Binance for crypto trading and I am one of them although I am quite far from trading lately. Since you are posting here so I am assuming you are referring for crypto trading and Binance would be helpful for a beginner. Anyway, we aren't your legal advisors , so please do your own diligence before start trading on any platform either crypto or forex.

[fudster]

Mother got scammed for $3000, that's a large sum to trade in forex when a newbie can just play forex with $100 or 200 to train herself. She can even try the demo. This is when someone are just jumping into an opportunity without asking someone else, she could have avoided it if she asked the users in the forums available for forex traders.

[CaVO32]

A random person on Facebook out of nowhere recommended you to use a trading platform, whereas to use the platform, you'd obviously need to deposit money. Shouldn't that itself be a huge red flag?

Anyway, a quick Google search gave me these results:

• https://www.reddit.com/r/Scams/comments/ajxwe4/my_mother_got_scammed_via_umarkets/
• https://www.reddit.com/r/phinvest/comments/ajyetv/help_my_mother_got_scammed_via_umarkets/
• https://www.reddit.com/r/Philippines/comments/b6yzx7/to_all_umarkets_forex_victim/

It's probably a scam that's mostly targeted to Filipinos.


EDIT: Yep. Checked your post history and you also hang out on the Pilipinas section. I personally wouldn't touch that platform with a 10-foot pole.

Thanks for the response, yes it seems it is a red flag. They trying to contact me and to explains that I can earn even the market has no movements. How cool is that LOL

And common, $500 min deposit? More than likely, once you deposit it, you can't get it back. they will create reasons on not to release your funds. $500 is actually big amount and it is already more than a month wage of an ordinary employee.

mk4 is right, there are a lot of articles discussing their scam activities. Recently, someone wanted to withdraw and he couldn't. this is really unfortunate especially for those that needed those funds in this crisis.

https://www.forexpeacearmy.com/community/threads/umarkets-com-scammers-fraudsters.52475/
https://www.forexpeacearmy.com/community/threads/umarkets-can-not-withdraw.64609/

[HakaseMarui]

nah dont use it, it might be a scam and its not really that known.. Neither my expert trader friends doesnt know this platform,

[so98nn]

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On the view of this you can just checkout the review page for umarket.

With 33 reviews they have 1.9 total star rating which straight away tells us how bad it is.

Reference : https://www.forexpeacearmy.com/forex-reviews/11864/www.umarkets.com

[rexxarofmoknathal]

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On the view of this you can just checkout the review page for umarket.

With 33 reviews they have 1.9 total star rating which straight away tells us how bad it is.

Reference : https://www.forexpeacearmy.com/forex-reviews/11864/www.umarkets.com

Absolutely not!!! Some random "chick" tells you about this trading platform which requires you to deposit a min of $500  Mate, that's more than suspicious and although I'm glad you posted on here first before you made your deposit, this shouldn't have been a ? in your head at all - it worries me!

[GreatArkansas]

Wow. It's already red flag for me since the minimum deposit $500. I can't even afford to deposit that kind of amount for trading, it's hilarious.
And for sure the minimum amount in withdrawal (if ever you can still withdraw your money after you deposit  ) is also possible high.
It's really scary to risk your money on this kind of trading platform, especially the minimum deposit it's kinda huge.

[milewilda]

Hey, I just want to ask help on verifying this trading platform umarkets.com

Someone sends me a recommendation thru messages on Facebook after having a little conversation she recommend me her using trading platform.

But I'm not sure if it is worth to deposit $500 (minimum deposit)

Is there anyone who's familiar with this?

umarkets.com

Someone sends you randomly with some recommendation or suggestion to deposit on a forex broker? with that alone you can already sense that somethings fishy unless if you do let yourself
being controlled by greed because that person offer you some good returns when you do make a deposit.

Theres no such thing about easy money and yet making a simple search in google wont cost you an arm and leg. Forex trading isnt easy and even fund handlers or management isnt even recommended.
Stay away with this one if you dont like to lose that 500 bucks.

[celot]

Trading is the best way how to get money easy but need money first, without have much money we can't get much profit and impossible we earn money in trading, have many source link information for trading and know what is the best way for trading and earn profit.

[jrrsparkles]

Legitimate exchanges doesn't need minimum deposit amount for the verification process,all they need is your KYC papers and documents.Why you need an unknown trading platform when we have thousands of working legitimate trading platforms.

[ryzaadit]

Legitimate exchanges doesn't need minimum deposit amount for the verification process,all they need is your KYC papers and documents.

No, they need minimum deposit.

Forex or binary option required minimum only around 10$ for deposit and each trade can be made is 1$.

[btcholder]

In my opinion don't think about it. May be it's a trick cause last month my friend got a verification mail from some crypto project (he didn't register though). He did stupid step and clicked the link and verified his email to that website. And somehow scammers got his personal keys and loot his account. He's lucky that he had only $300 but he learned his lessons. So my opinion is stay way from this kinda website. I never seen in my hole life to any exchange required minimum $500 deposit. So must be it's fishy or something.

[Zionatin]

Legitimate exchanges doesn't need minimum deposit amount for the verification process,all they need is your KYC papers and documents.

No, they need minimum deposit.

Forex or binary option required minimum only around 10$ for deposit and each trade can be made is 1$.

You are so very wrong. NO exchange needs your KYC ever !!! Get it into your head. The minimum deposit should be a value that makes sense. If it costs $0.50 for the transaction then a minimum deposit of $10 would make sense if it is a coin like dogecoin you can make the minimum deposited mere cents. Having $500 minimum deposit is an obvious scam.

[ryzaadit]

You are so very wrong. NO exchange needs your KYC ever !!! Get it into your head. The minimum deposit should be a value that makes sense. If it costs $0.50 for the transaction then a minimum deposit of $10 would make sense if it is a coin like dogecoin you can make the minimum deposited mere cents. Having $500 minimum deposit is an obvious scam.

I'm responded to another exchange, on his response!

I not talking about the crypto exchange/umarkets exchange, i talk about other forex & binary exchange!

If you don't know about binary option/forex broker then no need to respond to me, and who said a broker doesn't need about KYC. Every broker needs KYC if you withdraw the money since they have using a fiat transaction on their deposit/withdrawal activity. Event crypto exchange has their minimum deposit if you want to know the reason why every exchange crypto exchange use a minimum deposit because they want to avoid a spamming transaction with a little fund on their exchange. Surely you've seen a warning, you cant use the deposit exchange address for mining activity.

[coinfinger]

You’re not even serious, someone you don’t know recommended it on Facebook and you’re trying to invest $500?
If you don’t want to regret, you better just forget about it and look for something else to do. There are lots of exchanges out there that are well known and reliable that you should be making use of, so I don’t know why anyone should be recommending an exchange to you.

Even a search on Google will help you to discover the best exchanges, and if you want to local exchanges that offer services in your country and are reliable, you can as well find them.