Arum Trade Forex broker review – Is your money safe with this broker?
It is not difficult to find a financial broker these days, but it is challenging to find the right broker that ensures the safety of your investment and over the money that you deposit.
To find the right broker means that you have to inspect the services, offers, the markets, and products offered by the broker. We have done all that for Arum Trade broker review, so you can decide whether you want to invest with this broker or not.
- Max Leverage: 1:200
- Spread:1.8 pips
- Forex Licence:N/A
Arum Trade broker operates offshore from Vanuatu, which is something that every trader shall be careful with because many financial crimes occur in relation to transactions of offshore companies.
Arum Trade offers maximum leverage of 1:200 and low spread ranges that start from 0 pips, however, there are limited products to trade, mainly focusing on the Forex market.
There is one type of account that the clients can use, in addition to the demo trading account, and using the Metatrader5 as the sole trading platform.
Setting up your account
It is quite easy to get yourself registered with this broker, we do not recommend it, but if you decide to discover things yourself you can directly do that by clicking “Login” on the top right corner.
Then find “register” to get started with the process by inserting your personal details, starting from your name, email address, phone number, and checking the 2 boxes at the end.
After that, you will be asked to submit further identification documents. However, if you are asked to submit credit card details by an Arum Trade broker, make sure you only show the last 4 digits of the credit card number and hide the security number or CVV number.
Types of accounts
There is only one account type offered for traders, ECN Trade Real, and having this sole account does not really add much of an option for traders.
Unlike other brokers, who offer different account types, each of them offers different access to markets, different spreads, and different minimum deposits, which challenges the traders’ decision-making process.
It might sound like a great deal since the minimum deposit required is $1 and the spread is a floating range that starts from 0 pips.
Arum Trade broker’s maximum leverage offered is 1:200 which is limited to 1:5 in the case of shares CFD trading, while 0.01 lot size is the minimum that a trader can use to open market positions.
This account incorporates a few charges and commissions that take place upon trading cryptocurrencies and shares CFDs
While trading CFDs on shares, there is a fixed $6 commission that is taken once a trade position is open, in addition to a percentage of 0.06% from the traded value.
Trading cryptos is also subject to trading commission fees, the fixed charge is $3 per trade, and 0.15% from the value traded is charged also as a commission charge.
Is Arum Trade regulated?
Arum trade broker holds a license of the Vanuatu FSC which is not really a high-tier finance license, it does not level up to any top or even mid-tier licenses such as FSCA, CySEC, or the FCA.
Thus, Arum trade is not regulated by any high-profile authority that regulates the behavior of financial institutes and is not subject to any penalty system if any illicit activities are practiced.
Deposits & withdrawals
There are different ways for traders to fund their accounts, and to take their money out of their account, each method has its own charges and characteristics, which we will outline below.
Deposits have no commissions fees and the Mastercard is the main Arum Trade deposit method for traders to add funds to their account, with $30 being the minimum deposit amount.
Other forms of payments are e-wallets and crypto wallets are also available, which provide faster processing of the payments done by traders
However, none of the most common ways are available such as PayPal, Neteller, or Skrill, probably because they incorporate high security and safety which does not go in line with Arum Trade scam activities.
AstroPay, Perfect Money, Pay Retailers, are the available e-wallets options and they require a minimum deposit of 30$ ($50 in the case of Pay Retailers).
It is also possible to pay with cryptocurrency to fund the trader’s account, such as Bitcoin, Litecoin, Bitcoin Cash, Ethereum, Tether, USDC, Ripple, Cardano, and Tron.
Arum Trade withdrawal methods are almost the same methods that are used for deposits, with the exception that Mastercard withdrawals are not allowed.
This is surprising because most brokers allow traders to use the same way to conduct both transactions: the deposit and the withdrawal.
Withdrawals can take from 1 to 3 working days to be processed, and there is a 5% commission fee charged when withdrawing any amount from the trading account.
A trader needs to have a balance of $50 at least in order to request a withdrawal.
Traders with Arumtrade brokers do not have many options when it comes to trading software, Arumtrade MT5 trading platform is the only way to manage trade positions.
This can make some traders avoid this website because most traders enjoy the flexibility of having a trading software and a Webtrader because the Webtrader offers a higher versatility.
The Webtrader is preferred by traders because it can be directly accessed through the broker’s website without the need to install any 3rd party software, which allows the traders to do transactions anywhere, using the broker’s website only.
Arum Trade focuses on the Forex market since they offer more currency pairs than any other assets from any other market. There are +40 currency pairs in the Forex market, and around 12 assets from all the other markets together.
Arum Trade broker offers clients assets mainly in the Forex market, and there are 46 currency pairs that can be used for trades.
The currency pairs include major currencies, such as EUR/USD and GBP/USD and more, besides crosses and exotic currencies.
The leverage is up to 1:200 and the spread is variable according to the traded pair.
CFD trading for indices is available and it has a maximum leverage of 1:5. The indices available include different markets around the world, such as the US markets, the EU, Australian and Japanese markets.
This part creates confusion for the viewers and is part of why Arumtrade is a scam broker that does not pay attention to the content of the information since the website mentions shares, however, it goes on to list indices CFDs
Only 5 commodities are offered with Arum trade, and they are Gold (3 assets) silver (1 asset), and Brent crude oil. This very limited selection does not seem to impress many traders who prefer a bigger variety of options.
These commodities can be traded using a maximum leverage of 1:200 while having a floating spread range.
One of the most exciting and thriving markets these days is offered very poorly on this website, there are only 2 cryptos that can be traded, which are Bitcoin and Litecoin.
Arum trade financial broker attracts more users by offering bonuses and awards for new and existing traders, which is a classic way for brokers to lure more traders.
This is not necessarily an indicator that Arum trader is a fraud broker, but this one, besides other signs we have uncovered, makes us definitely tell that something is going on with this broker.
$30 deposit bonus
This bonus is offered whenever a trader makes their first deposit after registering a new account, and they receive a $30 that can be used for trading activities.
To get this Arum trade bonus, a trader needs to make the first deposit in accordance with the minimum deposit required by the account.
There are different types of analytical tools that help traders keep track of the market activities and what are the global events happening around the world. We have checked these tools and how useful they are as the following:
Ideally, this section must show what are the current trends for different products and markets, this broker’s website looks quite informative with arrows depicting the trends for different assets.
Also, the signals show how strong is the direction of each trading trend, and the general recommendation. However, the last update that took place on this page was 6 months ago from writing this review, making this page of no use at all.
News & analytics
This part of the news section is where important figures are communicated about the manufacturing PMI and other trading sentiments and opinions.
This tab of the Arum Trade broker website is not user-friendly, and the news there is not updated frequently, making it totally useless for clients if they want to read news and analysis.
This page looked promising at first because there were videos that summarize the Forex market movements over the weeks. Disappointingly, this page is also obsolete and it was getting updated twice a month, then stopped updating for 6 months straight.
There are some additional options that are not found at any other broker’s website, such as fund investments, education section, and demo accounts, which we have checked thoroughly to test the usefulness of each of them.
Besides investing funds in trading markets, the broker offers clients the opportunity to invest in several funds where managers and investors cooperate to run these funds.
We do not recommend indulging in such kinds of activities because the website enlists some random investment funds that are unknown and no one can know how these funds are being used and what you can expect.
Arum Trade financial broker offers a demo trading account for users to get familiar with trading activity and to test out new strategies before implementing them on real financial markets.
Once a demo account is set, a client will receive a virtual $10,000 while trading under a simulation of real-life trading conditions.
There are some resources and material for the traders to read through and to enrich their trading knowledge, this section includes PDF reading material, videos, and trading strategies tutorial.
The strategies tutorial is old and the last update on that page was 5 years ago, and it does not seem to get updated frequently, while the videos are very few and the number does not exceed 10.
The only possibly useful material here is the e-book that provides a reading reference for clients to read and learn more about financial markets’ specifications, options, and signals.
The support team does not add any real value for traders, a trader can easily feel left alone on the website.
Arum trade broker customer support phone numbers are not really of use, because there is only one telephone number provided and it seems to be busy all the time, or they just do not care that much.
In addition to that, there is no live chat support, which is needed when a trader faces an issue that requires quick assistance since the email usually takes more time to get a valid response.
We recommend keeping yourself and your funds away from this broker because this Arum trade broker review indicates a high-risk factor in every feature we have inspected.
The absence of a high-quality regulatory license makes it very difficult to believe the generous offers communicated on the broker’s website, including the different Arum trade deposit bonuses and the investment funds.
Moreover, the negative Arum trade opinions grew from the confusion found on the website, where some information is mentioned differently across different pages, which does not attract real traders to get involved with this broker.