Aurum Markets
Pros and Cons
Pros
- Regulated by the Financial Services Commission of Mauritius
- Access to multiple trading platforms: MetaTrader 4 and MetaTrader 5
- Minimum deposit requirement of just $10
- Variety of account types including Cent and demo accounts
- Leverage options up to 1:1000 available
Cons
- Not regulated by Tier-1 authorities
- High spreads starting from 2 pips on standard accounts
- Limited customer support options
- Prohibition of certain trading strategies like scalping
- Limited educational resources and tools
Basic Information
User Reviews
Aurum Markets Overview
Aurum Markets is an international forex broker founded in 2017 and headquartered in Mauritius. Regulated by the Financial Services Commission (FSC) of Mauritius, Aurum Markets offers trading services to clients worldwide, excluding certain jurisdictions such as the United States and the European Union. The firm has established a reputation for providing competitive trading conditions, including low spreads and a range of account types tailored to various trading strategies and experience levels.
Aurum Markets specializes in forex trading, offering access to over 45 currency pairs, as well as commodities, indices, and cryptocurrencies. The broker utilizes established trading platforms, MetaTrader 4 and MetaTrader 5, which provide advanced charting tools and features suitable for both novice and experienced traders. Customer support is available 24/5 in multiple languages, ensuring assistance is accessible whenever needed. Unique advantages of Aurum Markets include high leverage options of up to 1:1000, negative balance protection, and no deposit or withdrawal fees, making it an attractive option for traders seeking efficient and cost-effective trading solutions.
Is Aurum Markets Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| No regulation | Mauritius | No investor protection measures |
Is Aurum Markets Regulated and How Are Client Funds Protected?
Aurum Markets operates without regulation from any recognized financial authority. Although it claims to be registered in Mauritius, it lacks a license from the Mauritius Financial Services Commission or any other regulatory body. This absence of regulatory oversight significantly increases the risks associated with trading through this broker.
Client funds are not protected by any formal investor compensation schemes, which means traders may face challenges in recovering their funds in the event of disputes or broker insolvency. While Aurum Markets states that it employs certain safety measures, such as segregated client accounts and SSL encryption for data protection, the absence of regulation raises serious concerns regarding the overall safety and legitimacy of the broker. Investors should proceed with caution when considering Aurum Markets for trading.
Trading Products and Services
What trading instruments does Aurum Markets offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, USD/CHF, AUD/NZD | 45 |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | Many |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | Varies |
| Stocks | Apple, Tesla, BP, Vodafone | Varies |
| Cryptocurrencies | BTC, ETH, XRP, LTC | Many |
Aurum Markets offers a comprehensive range of trading instruments, catering to a diverse array of trader preferences. With a strong focus on Forex trading, the platform provides access to 45 currency pairs, ensuring liquidity and competitive pricing. In addition to Forex, traders can explore opportunities in commodities such as gold and oil, alongside a selection of global indices and stocks. This diverse product lineup is designed to meet the needs of various traders, from beginners to seasoned professionals, by facilitating portfolio diversification and enabling flexible trading strategies. The inclusion of cryptocurrencies further enhances the platform’s appeal, allowing users to tap into emerging markets. Overall, the expansive range of trading products at Aurum Markets supports informed decision-making and strategic investment planning, making it a valuable choice for those looking to navigate today’s dynamic financial landscape.
Account Types and Trading Conditions
What Account Types and Fees Does Aurum Markets Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Cent Account | Beginner Traders | Minimum deposit of $10, low spreads from 2.0 pips | Ideal for small-capital practice |
| Standard Account | Smart Traders | Minimum deposit of $50, tight spreads starting from 1.8 pips | Designed for regular traders |
| Ultra Account | Experienced Traders | Minimum deposit of $200, spreads starting from 0.9 pips | Best for traders seeking lower transaction costs |
| Elite (ECN) Account | Professional Traders | Raw spreads, $7 commission per lot, minimum deposit of $1,000 | Suitable for high-volume trading |
| Islamic Account | Traders requiring Sharia-compliant options | Swap-free, available across all account types | Requires documentation for eligibility |
Account Opening Process
To open an account with Aurum Markets, follow these steps: 1. Begin by clicking the Sign Up button on the official website. 2. Fill in your personal details, including your first and last name, country, phone number, and email address. 3. Confirm your email through the PIN code received. 4. Submit identity verification documents, including a government-issued ID and proof of address. 5. Once verified, you can fund your account and start trading. Additionally, you have the flexibility to upgrade to a professional account as your trading experience and volume increase.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $7/lot) | Tight spreads for major pairs |
| Forex (GBP/USD) | 1.0 | $0 (ECN: $7/lot) | Competitive pricing |
| CFDs (Gold) | 2.0 | $0 | Standard pricing for commodities |
| CFDs (Oil) | 3.0 | $0 | Applicable during high volatility |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable spreads based on market conditions |
Other Fees
When trading with Aurum Markets, be mindful of additional fees that may apply: – Deposit/Withdrawal Fees: Zero fees for deposits and withdrawals. – Inactivity Fees: An inactivity fee may be charged after a period of no trading activity. – Platform Usage Fees: No platform fees are applied for using MetaTrader 4 or MetaTrader 5. – Overnight Interest (Swap Rates): Applicable for accounts not marked as swap-free. – Currency Conversion Fees: May apply depending on the account currency and transaction type.
Trading Platforms and Apps
What Trading Platforms and Apps Does Aurum Markets Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 4 (MT4) | Windows, macOS, iOS, Android | 2FA, real-time quotes, multiple order types, price alerts, technical indicators | Demo accounts, VPS, API access |
| MetaTrader 5 (MT5) | Windows, macOS, iOS, Android | 2FA, market depth, economic calendar, advanced analytics | Demo accounts, VPS, API access |
| Web Version | Web browsers (PC, tablet, mobile) | Encryption, symbol lookup, one-click trading, push notifications | Demo accounts, educational resources |
| Mobile App | iOS, Android | Biometric login, push notifications, market alerts | Demo accounts, educational resources |
Aurum Markets provides a range of trading platforms catering to various trader needs. MT4 is ideal for beginners, offering a user-friendly interface and essential trading tools, while MT5 is designed for advanced traders, featuring enhanced analytical capabilities and tools for automated trading. The web version allows for flexible trading across devices, and the mobile app ensures that traders can manage their accounts and receive real-time alerts on the go.
All platforms prioritize security with features like two-factor authentication and encryption, ensuring safe transactions and data protection. Aurum Markets also supports mobile trading, enabling fast order execution and efficient market search tools across devices.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer | Deposit: 1-3 days, Withdrawal: 2-5 days | Usually free, but banks may charge a fee (USD 15-30 for international wires) | Min Deposit: 10 USD, Max Withdrawal: 50,000 USD/day | USD |
| Credit/Debit Card | Deposit: Instant, Withdrawal: 1-3 days (after verification) | No platform fees, but cash advance fees may apply | Min Deposit: 10 USD, Max Withdrawal: 10,000 USD/transaction | USD |
| E-wallets (Skrill, Neteller) | Deposit: Instant, Withdrawal: Same day | No platform fees, but e-wallet fees may apply (1-2%) | Min Deposit: 50 USD, Max Withdrawal: 10,000 USD/transaction | USD |
| Bitcoin | Deposit: Instant, Withdrawal: 1 day | No platform fees, blockchain fees may apply | Min Deposit: 10 USD equivalent, Max Withdrawal: 20,000 USD/day | BTC, USD |
| Local Payment Methods (e.g., GrabPay, FasaPay) | Deposit: Instant, Withdrawal: 1-2 days | No platform fees, but local fees may apply | Min Deposit: 10 USD, Max Withdrawal: Varies by method | Supports local currencies |
Withdrawals must return to the original payment method due to anti-money laundering (AML) and know-your-customer (KYC) requirements, ensuring traceable fund flows. First-time large withdrawals (typically over 2,000 USD) require identity documents (passport) and address proof (utility bill), with additional scrutiny for suspicious transactions.
Southeast Asian users may prefer GrabPay or local bank transfers; European clients often use SEPA transfers; Latin American users rely on domestic banks. Note that US users cannot use Skrill; some Middle Eastern countries limit PayPal. Partner banks in Japan may offer zero-fee transfers.
Cost Optimization Tips
- Small Deposits (<1,000 USD): Prioritize e-wallets or credit cards for instant, fee-free deposits.
- Large Deposits (>5,000 USD): Use bank transfers or SEPA for a lower total cost despite slower processing times.
- Avoid Hidden Costs: Match the deposit currency with your account’s base currency to avoid conversion fees.
- Multi-base Currency Accounts: Select brokers with several base currency options to minimize cross-currency fees.
How to Withdraw
- Log in to your Aurum Markets account.
- Navigate to the withdrawal section and select your preferred payment method.
- Enter the amount you wish to withdraw and submit the request.
- Complete any necessary verification steps, including identity checks if applicable.
- Wait for processing, which may take from a few hours to several days depending on the method.
Customer Support
Aurum Markets Customer Support Overview
Support Channels
Aurum Markets offers a variety of contact methods to ensure customers receive the help they need. These include:
- Email: Customers can reach the support team via support@aurummarkets.com for any inquiries or issues.
- Live Chat: For immediate assistance, clients can utilize the live chat feature available on the Aurum Markets website.
- Telephone: Phone support is also provided, allowing customers to speak directly with a representative.
- Social Media: Aurum Markets maintains active accounts on social media platforms, where customers can also seek help.
Service Availability
The customer service team at Aurum Markets is available 24/5, ensuring that clients can receive support throughout the trading week. Additionally, multilingual support is offered in several languages, catering to a diverse clientele.
Additional Resources
Aurum Markets provides a wealth of educational resources to empower traders. These include:
- Video tutorials covering various aspects of forex trading.
- Webinars led by industry experts to enhance trading knowledge.
- Market analysis to help traders make informed decisions.
- Trading signals that provide insights into potential market movements.
With a commitment to superior support and educational resources, Aurum Markets is dedicated to helping clients succeed in their trading endeavors.
Frequently Asked Questions
Aurum Markets prioritizes fund security by keeping client funds in segregated accounts with top-tier banks, ensuring that your money is protected and separate from the company’s operational funds. Additionally, we implement advanced encryption technologies and comply with regulatory standards to safeguard your financial information.
Aurum Markets offers competitive trading conditions, including low and variable spreads starting from 0.0 pips, leverage up to 1:500, and no deposit or withdrawal charges. We provide a seamless trading experience across various financial instruments, including Forex, commodities, indices, and metals.
Aurum Markets is committed to regulatory compliance and operates under the guidelines set by relevant financial authorities. We adhere to strict KYC (Know Your Customer) and AML (Anti-Money Laundering) policies, ensuring that all client identities are verified and monitored to prevent fraudulent activities.
Aurum Markets offers 24/5 multilingual customer support through various channels, including email, live chat, and phone. Our dedicated support team is trained to assist clients with any inquiries or issues related to trading, account management, and technical assistance.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.