Is Umarkets a safe trading broker?

https://umarkets.ai/

Umarkets is not a licensed or regulated broker even though it states offers that look good to be true. Umarkets claims it is regulated by the IFMRRC, but IFMRRC does neither issue licenses for forex trading nor regulate any financial derivatives services. 

What's more, the UK Financial Conduct Authority (FCA) issued a warning that this firm has not been authorized to provide financial services or products. You can check the full warning from here.

The truth is, Umarkets is not overseen by any regulators. That means investors' funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Umarkets and trade with licensed brokers.