Arum Trade is a scam broker, although it uses relatively good services and a well-designed website to lure inexperienced clients. At first glance, they operate a unique website where they can trade currency pairs, indices, and various popular stocks. They offer 1:200 leverage and claim to be the best low-risk brokerage.
Arum Trade Broker offers a market-leading MT5 trading platform and a variety of trading assets with a minimum deposit requirement of $1000, which is a lot of money to invest in an unregulated brokerage platform. Our in-depth research discovered several red flags that need your attention. We strongly recommend reading this Arum Trade review before investing with an Arum Trade broker.
Lack of regulation and licensing
Arum Trade operates in Vanuatu, an offshore zone and an ideal place to register a scam trading company.
ARUM Trade LTD is a Vanuatu investment company incorporated under the laws of the Republic of Vanuatu. Vanuatu Financial Services Commission (VFSC) License: Securities Dealing (Principal License) No. 40490.
The Vanuatu jurisdiction is popular among investors and business owners in the Forex industry who want to become regulated brokers but have achieved their status through simplified processes and operate with little oversight. VFSC regulators do not require rigorous verification of corporate background, secure money management practices or operational policies, require periodic reporting, and never impose fines for fraudulent activity.
This makes it a popular target for scam companies; that’s a huge red flag for Arum Trade! Traders should always seek a safe and secure environment for their funds.
Arum Trade trading platform: real or fake?
Arum Trade claims to allow its traders access to the MetaTrader 5 platform. The MT5 platform has become the industry standard due to its ease of use. Many graphing functions and charting tools are available. Fibonacci levels are also easy to click.
Finally, MetaTrader 5 also has a very in-depth forum to discuss various trading-related topics, from basic terms to advanced strategies. The platform is rich in information to satisfy any trader’s thirst for knowledge.
While trading with MT5 can be exciting, traders should remember that this broker does not hold any regulation or license from international financial institutions, so investing with Arum Trade is risky.
Few options for trading accounts
There is only one trading account available at arumtrade.com. Minimum Deposit for ECN.Trade.real account is $1000. The website does not share many specifications about the account and its services. Simply, you don’t know what you are putting your money into.
While most legit brokers offer a wide range of trading accounts that apply to traders with any background, Arum Trade narrows down to one simple option, which might become troublesome for some investors. A variety of trading accounts is a must for a broker. Some traders might prefer paying less with less available trading assets, while experienced ones might like paying more but having access to additional private services and extra trading assets.
Arum Trade’s Unreal Demo Account
Another shocking problem with Arum Trade is deceiving users with their demo accounts. Affiliates can easily be tricked into believing they can earn crazy profit margins through this platform. These scammers manipulate their demo accounts to generate crazy profit margins.
Demo accounts are generally built to welcome users and let them know what to expect from trading and the platform. However, these scammers built their demo accounts where more than 98% of trade investors are successful, which is impossible in any type of trading market. This means that Arum Trade Broker’s demo account is not designed to teach newbies to trade but to push them to open a live account and have high hopes for 98% success in real life.
Payment and Withdrawal Issues
Withdrawal is where we noticed the most complaints about Arumtrade.com. First, the website does not clearly mention what payment methods traders can use, as they have only mentioned bank cards in the deposit/withdrawal procedure contest.
Other shady policies in Arum Trade’s withdrawal and deposit terms include unnecessary delays in withdrawal processing and complicated withdrawal requirements.
Final thoughts about Arum Trade
Overall, we strongly advise investors not to trade on Arum Trade. Protect yourself, search thoroughly, read more reviews and choose the most suitable broker. You can also check out our list and ranking of Forex brokers and decide which one is best for you. Therefore, Arum Trade is a scam broker, and it is best to avoid working with them.