This company is a total scam and they are thieves! They stole my 20.000 usd investment and I traded and made 58000 and they never let me withdraw my money that I was asking for months. And afterwards they changed the account type so that I couldn’t trade small lotsizes. When they saw this is not working to make me lose my money, they made me to open trades so after the close I could only withdraw 10.000 as they promissed. But after that as they knew it will make me lose all, the account was lost.

They asked to pay insurance to recover my money and that money was also stolen. — Comments from Huiyou

Umarkets has been warned by several regulatory agencies

The Umarkets platform of Huiyou Trading, the URL is https://umarkets.ai/es/, which is currently unavailable. FX110.com has included Umarkets in the list of fake traders as early as December 2019. The URL originally exposed was www.umarkets.com, which is currently unavailable. In addition, the website https://umarkets.net was newly exposed in September 2020 and is still in normal operation.

The claim is regulated by IFMRRC TSRF RU 0395 AA V0155, but IFMRRC is the supervision center of Russia’s international financial market relations and does not supervise financial derivatives business. It is worth noting that the platform has been listed as a warning by Spain’s CNMV and Lithuania’s LBE for illegally providing financial services without authorization.

Conclusion

There are good and bad markets, and investment is risky. Regardless of whether it is speculation in foreign exchange or currency, choosing the right platform is very important, and don’t try to make money on black platforms!