Binary options are prohibited in the European Economic Area. Between 74-89 % of retail investor accounts lose money when trading CFDs.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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UKmarkets Broker Review

  1. UKmarkets Ltd is an online broker providing electronic trading platforms for financial investment opportunities in Forex, Indices, Commodities, CFDs and Binary Options. The company claims to be customer focused with a modern dealing centre staffed by professional traders with ‘extensive experience in foreign exchange markets’ as well as risk management specialists. UKmarkets states that it is one of the leading companies offering Forex trading in the world with low commission and spreads. However, based on the sparse information that we found on the UKmarkets website and what we consider to be a lack of transparency by the company, we could not evaluate the spreads, commissions and position of UKMARKETS relative to other online brokers, reviewed by our team.

    UKmarkets Ltd has a registered office in Cedar Hill Crest, Villa, Kingstown VC0100, St Vincent and the Grenadines, West Indies. The company registration number is 20389 IBC 2012. However, the UKM.com brand is owned and operated by Yamix Marketing Ltd operating from the Financial Services Centre, Stoney Ground, Kingston, St Vincent and the Grenadines with a UK telephone number. UK Markets Ltd is licensed by the Financial Services Commission in the Republic of Mauritius with the license number C11008214, issued on the 11th August 2017. UKM also has representation in CIS with an office in the Center Basmanny in Moscow with a Russian telephone number on the website.

  2. We saw that UKmarkets offers a free demo account and a 5 types of live trading account: Mini, Standard, Gold, Platinum and VIP accounts. Traders must deposit $100-499 to open the Mini account, $500-$1,999 for the Standard account, $2,000-4,999 for the Gold account, $5,000-9,999 for the Platinum account and $10,000 Plus for the VIP account.

    Surprisingly, all accounts receive the same support services including access to a transactions analyst and a training section on the website offering information about trading basics and educational materials. Moreover, all accounts offer the same financial instruments for trading: Forex, Metals, Commodities, Indices and CFDs.

    We were wondering why the leverage is the same for all accounts, with maximum leverage for Forex capped at 1:100, Commodities 1:50 and Indices 1:10. Moreover, the spreads for all accounts are ‘from 4 pips’ with the exception of the VIP account, that is given an individual spread. We could not understand why customers would choose anything other than a Mini Account or a VIP account based on the limited information published on the website. Especially considering the lack of detailed info about spread differences between account types.

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  5. At UKmarkets traders can download the UTIP trading platform or use the WebTrader platform from the browser. Traders can also trade in Binary Options using the UKmarkets trading platforms. UKmarkets is a non-dealing desk which means that it does not intervene in the execution of its clients’ trades.

    UTIP Platform

    The UTIP platform is a download platform facilitating trades in Forex and Binary Options. The UTIP platform gives clients access to a traders’ room with built in orders for rapid execution on currency markets. It is protected by triple layer security and provides traders with charts and live data.

    WebTrader

    Clients who wish to trade in a broad range of financial instruments can do so easily and fast with the WebTrader platform. The trading platform is accessible from the browser of the trader’s desktop with a UKmarkets username and password. Traders have market data as well as live charts and graphs at their disposal for executing one click trades.

    Mobile Trading

    Mobile trading apps have yet to be released by UKmarkets. However, the company states on the website that a mobile app for tablets and smart phones is coming soon for Android operated devices.

  6. If you want to trade with an award-winning licensed broker, we recommended using IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs

  7. Live customer support is available 24/5 on the UKmarkets website through live chat, along with a UK and Russia telephone number. For customers wanting to make a written enquiry, a prepared form is available on the Contact page. Three distinct email addresses are available at UKmarkets for support, accounts and trading enquiries.

  8. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs

  9. Customers can deposit and withdraw in USD, RUB or EUR using several payment methods. Currently, these include Visa, Mastercard, Diner’s Club, Bitcoin, OKPAY, and SWIFT bank transfer. Whilst deposits are not charged a processing fee, withdrawals pay a 1% commission to UKmarkets. Notably, UKmarkets states that withdrawal requests are processed within 10 minutes of receiving them but it does not give a time frame from expected delivery of funds to customers.

  10. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

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    Trade with an
    award-winning broker
    like IQ Option

     

     

    Between 74-89 % of retail investor accounts lose money when trading CFDs
    11. Your capital is at risk

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