' I'm not a legal expert but it seems to me that NZ is encouraging fraudulent behavior when they allow off-shore brokers to locally register a company, collect clients funds, deposit the funds outside the country, and then de-register their legal association with the primary financial oversight agency in the country and disappear. If a brokerage de-registers their company, all funds held in trust for clients should instantly be frozen, and all records seized. ' - https://www.forexpeacearmy.com/community/threads/does-poor-government-oversight-of-financial-markets-in-new-zealand-make-it-a-country-to-avoid.40252/#post-206589 :

Yes not regulated SCAM broker registered in NZ... I did complaints to their previous regulatory but no success. Seems NZ is becoming money laundering country and that kind of firms can operate easily!!!

https://www.forexpeacearmy.com/community/threads/guilty-case-2015-099-vgasper-vs-umofx-com.40486/#post-207256

MXfour posted:
Scam?

10000%

Scam?

Be careful from this broker. They are now 100% scam. They will never return your any withdrawal. They did not paid my amount also. When I send mail, they replied within 48 hours will be paid but its already gone 2 weeks. So, friend, do not deposit any amount with this broker and alert your friends also.
Thanks.
Pankaj D Costa

Money is not the output .... (((((

Bloody thieves! Money was literally taken from account and did not trade at all as was waiting over 1 month for withdrawal request.

IT' the same case like FXTRADER2010:

After i win some money and try to withdrawal my benefict they send me this email:

 
Please be informed that our company has investigated your trading account (Trading Account No: 659931). We discovered that you have violated the Client Agreement Number 4 as

stated below:


4.9. In exceptional cases short-term orders lasting less than two (2) minutes can be cancelled should they be considered an abuse.

 
As you can see from the above specify conditions 4.9, you will directly knew that your trade already violated the basic terms in trading. Your trading basically using short-term orders (scalping) that had

duration less than 2 minutes.


As company considerations, we decided to refund your initial deposit (USD 85).

Your patronage is important to us, thank you.


Best regards,

Account Department

United Market Oracle International


After this, i don't trade more with them, and i withdrawal my deposit more tan 1 month, send 4 email, talk with this shit support never reply any email and shit support only know to say write to support. In the email they say me refund your deposit.
But never i receive my money and after 1 month i receive another email:

 

Based on your trading record (Trading Account No: 659931), our company detected suspicious trading condition where it meets the client agreement as stated below:

“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.'

As a normal company procedure and final decision, the account will be reset and your account will be disabling (banned) as decided by our company.

Your patronage is important to us, thank you.

Best regards,

Account Department

United Market Oracle International

THIS IS MY PATRONAGE MOTHERFUCKERS.

Like our friend FXTRADER2010 say they are not regulated since last year or earlier this year

THEY STOLE YOUR MONEY NEVER DEPOSIT MONEY WITH THEM BE AWARE.

UMOFX is a SCAM Broker! Make not withdrawal!