Company name: UMOFX CO. LIMITED
Registration/license requirement: –
Is UMOFX a regulated forex broker or a scam?
no, UMOFX broker is Non-Regulated Broker. It is NOT SAFE to trade. while we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.
UMOFX is a Forex and CFD broker, based in Auckland, New Zealand. The firm is owned and operated by UMOFX CO. LIMITED.
They mention the Company Registration Number on the website, which supposed to mean that the company is authorized in New Zealand, but it is actually has no license to offer its financial services to New Zealand residents.
Investing funds with unregulated brokers comes with a significant risk, because such entities, most often than not, are involved in scam.
We recommend you to trade with serious and reliable regulators, such as FCA in the UK and FMA in New Zealand. For example, the license from UK’s Financial Conduct Authority requires EUR 125,000 of capital (aside from client deposits) for the STP license.
The regulator also protects customers when authorized financial services firms fail. Here you may check our list of brokers licensed by the FCA.
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