Arum Trade Review – Is It a Legit Brokerage Company?
Arum Trade is a kind of international investment company that offers us not only investments but also independent trading in financial markets. In general, this is exactly a broker, so it is not entirely clear why one is here specifically only by an investment company. Arum Trade positions itself as a brokerage intermediary for traders from different countries. It is a broker under the control of the Vanuatu regulator (VFSC) and under a European auditor, with Swissquote and LMAX acting as liquidity providers.
The site has been worked on. It does not look like a failure, although there is nothing special about it. It is immediately clear that there were no serious financial investments in it. However, it looks better than the majority of its counterparts.
The company has virtually no reputation, despite the fact that it is allegedly not a newcomer to the market. In general, there are all the signs that we are faced with a suspicious broker. In this Arum Trade review we will have a further look at the company and what are the features, that we think is suspicious from a client’s perspective.
Arum Trade Legal Information
According to what we are told on the website itself, Arum Trade is an international investment company. Its task is to provide everyone with access to a wide range of trading instruments. These instruments include currency pairs, stock indices, precious metals, CFDs on stocks, and cryptocurrencies. The company’s earnings are generated by the largest liquidity providers, which ensures an ultra-high speed of execution of transactions.
We are proudly informed that Arum Trade is registered in the Republic of Vanuatu. The broker is also regulated there. They give the license number, which we check and see, that it is true.
But, Vanuatu’s license is frankly useless, it does not give any right to conduct investment and brokerage activities in decent jurisdictions, including in most of the countries. So these documents are here only for a diversion. So, is Arum Trade legit? Well, not really.
Arum Trade Accounts
At the present moment, as we can see from the official website of Arum Trade FX broker there is only one type of account available, which is a traditional live account. It is called ECN.Trade.Real. There are no fees on the account and spreads start from 0. The maximum leverage you can get is 1:200. As soon as you make the first deposit you will be eligible for opening an account.
In addition to a live account, there is also a demo account available for novice traders. A demo account has numerous advantages. First of all, you learn the practical basics of trading. Furthermore, you do not risk your own funds. In addition, it is a perfect way to get acquainted with the MT5 platform, which you will need for trading. The broker gives $10,000 for a demo account upon registration.
We could not find information about an Islamic account, meaning it is not available. The broker does not focus on users of the Muslim faith.
Arum Trade Fees
Spreads on Arum Trade Forex broker can be as low as 0. There are no fees to maintain your account. The broker also does not have extra commissions on deposits, but there is a 5% fee on withdrawals. In general broker fees can greatly vary depending on the trading instruments. It is advised to ensure that you check and understand all of the latest information regarding the brokerage company before you open an Arum Trade broker account for online trading. In some cases, the broker might come up with additional commissions.
Arum Trade Assets and Conditions
The brokerage company opens access to trading with a leverage of 1: 200 in various asset classes:
- Currency pairs (main, cross, and exotic);
- Stock indices, commodities, and metals.
At the time of this writing, the broker has a special offer – spreads from 0 pips. All operations and analysis of quotes are carried out through the MetaTrader 5 platform, but the ArumGo proprietary platform was recently launched. We should note that each of these trading accounts has different advantages and disadvantages. Furthermore, you need to make sure that you know conditions comprehensively before you go for trading. Spreads and leverage could vary for different instruments.
Arum Trade Platforms
On the broker’s website, all traders can use the economic calendar, signals of technical indicators, calculators for calculating the volume of positions, risk per trade, news, and analytical information. Arum Trade allows beginners to train on a free demo account. Currently, users can only use the MetaTrader 5 platform. After registering on the website, all you need to do is to check the latest version of MetaTrader and install the program either on your computer or a mobile phone. Generally, the platform requires strong specifications to operate smoothly.
Arum Trade Deposits and Withdrawals
The minimum deposit amount in Arum Trade is set at $30, you can transfer funds through electronic wallets Skrill, Neteller, Astropay, Perfect Money, Paypal. Withdrawals are subject to a 5% commission. The maximum amount of money you can deposit/withdraw is 99999$. Normally, deposits are instantaneous and transactions are secure. As for withdrawals, it could take up to 3 days – depending on your location and other factors. Sometimes banks need to verify your transaction and make sure it is legit. Payments from third parties are not accepted. Funds received from credit cards will be credited only if a copy of the credit card is available as the Company may request it.
Arum Trade Educational Section
Arum Trade also provides free training materials, for example, a glossary, FAQ, e-books and articles on the market, trading. In addition, there are indicators, trading courses that registered users can make use of. Videos are of average size and customers can get sufficient information to enhance their knowledge. We should also point out that these courses are completely free. You do not need to pay an extra amount of money after you register on the website. The feature is available to non-registered users as well.
Arum Trade Customer Support
Arum Trade customer support works Mon-Fri from 9:00 to 18:00. You can either contact an English-speaking or Spanish-speaking representative. We need to point out that in addition to a live chat, there is also an official e-mail available in the contact section. Normally, contacting a live chat is more preferable, because you will get answers to your questions instantly. Depending on the number of requests, e-mail answers could take up to several hours. The live chat is located at the bottom right side of the website.
Arum Trade Final Verdict
After thoroughly going through the features and characteristics of the brokerage company we need to answer the final question of our review – can Arum Trade be trusted? This is only part of the description, there is much more text on the site, and, of course, it is mainly advertising. In general, the bottom line is that Arum Trade is not a recommended brokerage company. There are numerous question marks which we think require answers. Therefore it would be advisable to refrain from registering on the broker’s website. Check out other reliable brands that provide customers with all the necessary features and tools.