Aurum Markets Forex broker review — What you need to know

Aurum Markets is a broker that allows its traders to access diverse markets such as Forex pairs, commodities (energies and metals), and indices. However, the broker is not regulated, which is a major red flag and makes it super risky to trade on its platforms. It offers MT4 and MT5 advanced software and the leverage is high at 1:1000. There are several accounts available, including Islamic ones and the broker offers low minimum deposits from 10 dollars.

In this unbiased review of Aurum Markets, we will assess the broker’s critical features like safety, reliability, accounts, website, support, education, trading assets and platforms, and more. After reading this review, you will be able to define whether the broker is truly reliable or another scam company.

Safety of Aurum Markets revealed

Aurum Markets Ltd is only registered in Mauritius and not regulated by the FSC of Mauritius (Financial Services Commission). Aurum Markets Limited is only incorporated in Saint Lucia and not regulated by the local authorities. The broker is incorporated as an international broker and that’s it. This is a serious red flag and makes it impossible to call the broker reliably. It is highly risky and the lack of trader reviews online only adds to the list of red flags, making the firm extremely risky and unreliable.

The broker claims to offer negative balance protection which is a crucial policy protecting traders not to lose more than their account balance. There are also KYC and AML policies claimed by the broker, but none of these policies can be confirmed.

Aurum Markets Overview of the Website

The website of Aurum Markets is very well-ordered and offers all important information and features within one platform. There is an online-chat available on the website and traders can navigate on the website tabs to find information about account types, markets, payments, and much more.

Overall, the broker has a good website which is responsive and offers advanced features, making it comfortable to use.

Aurum Markets Accounts Reviewed

The broker offers several account types including standard, cent, ultra, and ECN. These accounts offer slightly different spreads and conditions. Overall, the spreads are super high starting at 2 pips for major pairs.

Aurum Markets Cent Account

The cent account has a low minimum deposit requirement of just 10 USD, which is very low. However, spreads are extremely high starting from 2 pips on major FX pairs, making it very expensive to trade the markets. The leverage is up to 1:1000, which is high and allows traders to control 1000 times their account size, creating real risks of blowing up trading accounts. The broker does not allow scalping, Expert Advisors, and the minimum lot size is 0.01 lots. A swap free account is offered for cent accounts. No trading commissions are charged.

Aurum Markets Standard Account

The standard account is a slightly improved version of the cent accounts. It offers spreads from 1.8 pips, which is still very expensive and makes it impossible to make money with short-term methods. The leverage is also up to 1:1000 and minimum deposit is also 10 dollars. Scalping is not allowed, but traders can deploy EAs. Swap free version is available for this account. No commissions are charged.

Aurum Markets Ultra Account

The ultra account offers the best conditions for traders. It has 0.9 pips spread on major pairs, a leverage of up to 1:500, and allows EAs. There are no trading commissions charged. However, the minimum deposit is higher and starts at 200 dollars. Swap free accounts are offered. Scalping is not allowed.

Aurum Markets ECN Account

The ECN account is the low spread account type that charges commission of 7 USD per lot round turn. However, despite offering raw spreads, scrapping is not allowed which defeats the whole purpose of this account. ECN accounts are specifically designed for raw spreads and enable traders to trade using scalping methods and Aurum Markets does not allow scalping. So, this account is pretty much useless. The leverage is up to 1:500 and the minimum deposit is 500 dollars. Swap free version is available for this account as well. Minimum lot size is 0.01 lots and traders are allowed to use EAs.

Deposit and withdrawal options at Aurum Markets

Deposits and withdrawals are claimed to be fast and almost instant at Aurum Markets. However ,the claims of instant withdrawal processing seems too good to be true as the broker is unregulated and even regulated brokers struggle to allow fast withdrawals. Traders can use e-wallets such as Netter or cryptos like BTC, and there is also an option for wire transfers. There are no commissions charged for withdrawals.

Aurum Markets Assets — What can you trade?

Aurum Markets allows access to a range of markets including Majors, Minors, Metals, Energy, US30, SP, and more. This is diverse but there are no digital currencies offered for trading which is a huge downside for the broker. The broker does not offer stocks either, which is also a downside.

Trading platforms of Aurum Markets

The broker offers access to advanced trading platforms, MetaTrader 4 (MT4), and MetaTrader 5 (MT5). Both platforms support custom indicators and the broker also allows Expert Advisors, which is flexible. Mobile trading is provided via mobile versions of these platforms, and enables traders to trade on the go.

Education at Aurum Markets

The broker lacks educational resources, which is a serious downside. There are no videos or articles offered and the broker does not offer webinars or live events either. There is no trading blog and there are no trading tools offered.

Aurum Markets Customer Support

The support at Aurum Markets is provided via live chat and email options. There is no phone support available, which is a major red flag. No reputable broker hides their phone number or address.

Aurum Markets bonuses and promotions

The broker offers a 100 USD bonus account and deposit bonus promotions. There is also copy trading available, which is flexible. The 100 USD bonus account requires traders no deposit to start speculation in financial markets and traders can withdraw profits later, but trading lot requirements are super high, making this account not very attractive. The deposit bonus is a traditional deposit bonus that allows traders to get a bonus of up to 25 grand.

Is Aurum Markets your broker? Final verdict

The broker tries to position itself as a modern and reliable broker but lacks regulations, which makes it a very risky and unreliable broker. The spreads are super high for standard accounts and leverage is high at 1:1000. The minimum deposit is low, which is flexible. The ECN account which offers low spreads in exchange for commission does not allow scalping, which makes it totally useless and only a marketing gimmick.

Overall, Aurum Markets is not a trustworthy broker and unless it gets regulated, we can not recommend this company to our readers.

FAQs on Aurum Markets broker

Where is Aurum Markets based?

The broker is based offshore incorporated in Mauritius and Santa Lucia, making it an unregulated offshore Forex broker.

Can you withdraw from Aurum Markets?

We have not tested their withdrawal feature and therefore can not confirm the broker allows withdrawals.