I have always believed that in order to become a successful forex trader, you need to have two things; luck and research skills. Out of these two, luck comes after research skills. If you are not lucky enough but you are good at researching your way through problems, then there is a high probability of you succeeding in the area. Researchers are in the habit of looking at all the aspects of a situation and hence, in my opinion, they are the best decision-makers.
It took me very long to realize that the major skill or area that I lacked was researching and before meeting this point, I had already had the misfortune of being a customer to around 4 fake forex firms. I say that luck and research count and I am not referring to deals only. In fact, I am talking of a step that comes well before the process of making deals. Yes, picking the right forex firms. This has become very hard for the past few years because the fake firms are in the market in huge numbers and now they have grown up to a point that young traders are and should be afraid of their mere existence.
I have seen so many traders devastated because of the cunning gimmicks that they employ. I do not blame the traders entirely for it but I feel like somewhere it is the traders too who are lacking at researching properly. I also want to let you know that a trader cannot make well-informed decisions all by himself because he does not have access to the state-of-the-art technological features that are needed. To fulfil this need the trader has to look up to the firm. These indicators and tools were one of the major reasons behind the major shift of traders towards this area. You need to look for a broker that can provide you with the best of the tools and technology so that you are fully equipped.
These days the fake firms have developed strategies that make it impossible for young traders to sense something shady and step back. Instead, they present their firm in a way that makes the firm look beyond flawless. Now it is the trader who has to remain vigilant enough to distinguish between the truth and the false information being provided. Many people come to me asking for tips and tricks to find a trustworthy firm and I keep telling them they should visit the website a few times, go through the legal documents, compare features with those of competitors and most importantly go to the market and see if it is well-reputed amongst the trading industry. These were a few things I tried and these helped me reach UMarketz.
I initially got to know about the platform from a friend who was using this forum already and she said she was satisfied with the way it worked. I was happy to see her saying it because she was one of the few people who were actually happy with the way their forex firm was. She convinced me to look into the website.
After 5 years today, I am happy about making that decision. UMarketz has been good so far and I have observed that it has most of the ingredients that you need to trade better. Over here, I had an opportunity to work in an optimal trading environment that allowed me to grow and learn as a trader. However, like all companies, this one had some flaws that I will be shedding light on as we proceed in the review. So let’s get started with it and see what pros and cons UMarketz has.
Security Is Not A Problem
Security is one of the major issues that traders suffer from. When you start working with a forex firm, you are trusting a stranger with all your hard-earned money. This is why you always want to work with a firm that is true to the customers and does not believe in making the working conditions even hard for the young and elderly traders. I have been to fake brokers that invest the least in this area and as a consequence, traders keep losing their money turn by turn. A firm needs to dedicate a proper team to this area so that they keep researching and coming up with ways we can combat the ever-developing and ever-advancing hackers. I have been noticing here at UMarketz that the firm is determined to keep improving the security measures and that is why they have invested heavily in the area. When you start working with the firm, you will notice that they introduced several additional steps to ensure that your assets are not threatened. I have never heard about anything that made me alarmed about the security conditions at this firm and I am very much satisfied with how they focus a lot on this area.
A Large Number Of Financial Instruments
As we have already talked about above, I firmly believe that instruments, if well established, can help a trader work on his trading skills like nothing. I have been trading for very long myself and I have benefited a lot from such instruments, however, the problem arises when the firms neglect this area and do not provide the traders with instruments that can be used and relied on while making huge deals. I was afraid of losing all my money after being misguided by a tool and that was why I looked into this area particularly. All my trader fellows said that these could be counted on for close to accurate information and my experience has been the same as what I was told. The company has more than 360 instruments available that the traders can make use of to make better decisions. I have always taken the help of the flashing stocks bar that keeps me updated.
The broker understands that you cannot do good or survive longer in the market if you do not read or go through educational literature. These days, with such busy schedules, it is hard for traders to take out time and look for reliable sources of information. The company understands the issue well and this is why they have introduced an online academy for us. This academy is there to help us provide quality information that covers most of the contemporary topics so that we keep up with the trends.
The theme is another thing that I find commendable. If you open the website, you will see that they have picked a nice theme which makes the website very captivating. The blue and the white colour of the landing page makes the overall working experience less dull. I think that the firms should always pay attention to this area because dark backdrops turn into headaches for the elderly. Apart from the theme, the font size, style and colour have been picked to make the text eligible and the website easier to navigate. If you use the website, you will see that they have invested a lot of money in making it more user friendly.
Us Traders Not Served
The major shortcoming of this broker is that the residents of the United States cannot benefit from the quality service of this broker. I think this issue should be addressed on a priority basis. I have heard that this measure is usually taken by brokers because operations in the US bring a lot of threats along for traders from other countries. However, I think that suspension of services cannot be a long-term solution and that a proper solution should be worked out soon.
Customer Support Representatives Not Available 24/7
Another point that I have noticed is that the customer support representatives are highly professional and they are very well trained to do the job. I like how they are ever welcoming and they do not let the customers wait for long. The point that I want to discuss is that they are not available on weekends. We know that trading goes on all the time and if you face a problem on weekends then you will have to wait for weekdays to discuss it with a representative. Otherwise, I have found the department great so far.
In conclusion, I would like to say that UMarketz has helped me substantially in understanding the market dynamics. The tools and instruments are very well laid out and you can always seek help from the data they provide you. It has been so many years that I am trading with this broker and I have never felt that I made a wrong decision. However, there have been some flaws that can be sorted out easily and they do not hinder the trading process of most of the traders. Good luck to you all.
Disclaimer: This review is written from my own experience and my self-knowledge only and this is not a recommendation.