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FXtrader2010
May 12 2015 at 22:45
724 Posts
A big warning to ANYONE who trades, DO NOT use the UMOFX brokerage, they have stolen all my money and have given no response back as they filed to become unregulated in march(ref. https://www.fdr.org.nz/member_search/scheme_member/599268). I decided to make a withdraw of all my funds after they canceled all my profits and reset my initial balance. I did not trade after this time. They never responded and now sent me email today saying,
 'Based on your trading record (Trading Account No: 659672,658766,658859,660164), 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.'

So just a big warning to anyone, this broker is now unregulated and SUPER sketchy. Please pass this on within the trading community.


peeterwoolf
May 16 2015 at 00:14
230 Posts
I guess you are right, there are some bad review about UMOFX.

FXtrader2010
May 16 2015 at 01:27
724 Posts
peeterwoolf posted:
I guess you are right, there are some bad review about UMOFX.
Dude they STOLE my money, literally.

jaimepm
May 22 2015 at 04:50
4 Posts
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.

FXtrader2010
May 22 2015 at 09:48
724 Posts
jaimepm posted:
IT' the same case like FXTRADER2010:


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


People please spread the word, this shouldn't happen. Peoples hard earned money, simply gone! never in my 5 years trading retail fx have had anything ever like this happen

RedRhinoLab
May 22 2015 at 17:59
631 Posts
Please post this info in here

https://www.myfxbook.com/reviews/brokers/umofx/53362,1

otherwise your information can be lost in the general discussion

Stanko777
May 29 2015 at 10:00
19 Posts
Why do you open an account with an unregulated broker at the first place?

FXtrader2010
May 29 2015 at 10:40
724 Posts
Stanko777 posted:
Why do you open an account with an unregulated broker at the first place?
THEY WERE regulated when I opened my account

Ari Goldman (arigoldman)
May 29 2015 at 20:02
907 Posts
Thank you for sharing, be careful out there.

Ben78fx
May 29 2015 at 20:02
2 Posts
After reading all the previous post , and afraid to invest in forex

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