Aurum Markets
Basic Information
Pros and Cons
Pros
- Regulated by FSCA and FSC
- Low minimum deposit of $10
- Leverage options up to 1:1000
- User-friendly platforms: MT4 and MT5
- Responsive customer support
Cons
- Lacks oversight from a top-tier authority
- High spreads starting from 1.8 pips
- Limited educational resources available
- Mixed feedback on withdrawal processes
- No 24/7 customer support
Is Aurum Markets Safe and Legit?
Aurum Markets, registered in Mauritius since 2017, operates under the regulatory oversight of the Financial Sector Conduct Authority (FSCA) in South Africa and the Financial Services Commission (FSC) in Mauritius. The broker offers a range of trading instruments including forex, CFDs, and cryptocurrencies, with leverage options up to 1:1000 and competitive spreads starting at 1.8 pips. The MetaTrader 4 and MetaTrader 5 platforms are used for trading, providing a user-friendly interface for traders of all levels.
Despite being regulated by the FSCA, Aurum Markets lacks oversight from a top-tier authority, raising concerns about its overall safety and legality in the financial market. While it adheres to certain regulatory practices, traders should exercise caution due to the absence of stringent regulatory frameworks typically associated with safer trading environments.
User feedback indicates a mixed reputation for Aurum Markets. While many users praise the broker’s customer service and ease of withdrawals, concerns regarding limited educational resources and a lack of transparency persist. Complaints about withdrawal issues have also surfaced, although the broker maintains a generally responsive support system. Overall, traders should carefully evaluate their experiences and expectations before engaging with this broker.
Is Aurum Markets a Regulated Broker?
What Are the Regulatory Licenses Held by Aurum Markets?
Aurum Markets is registered in Mauritius and operates under the regulatory oversight of the Financial Sector Conduct Authority (FSCA) in South Africa and the Financial Services Commission (FSC) in Mauritius. However, despite this regulation, the broker lacks oversight from a top-tier authority. Therefore, it can be considered to have only offshore regulation.
| Regulator Abbreviation | Full Name of Regulator | Regulated Company Entity | Regulatory Status | License Number |
|---|---|---|---|---|
| FSCA | Financial Sector Conduct Authority | Aurum Markets | Active | FSP No. 44692 |
| FSC | Financial Services Commission | Aurum Markets Limited | Active | License No. 195270 GBC |
Client Fund Segregation: Your Ultimate Safeguard
Capital Protection Measures
Aurum Markets ensures the safety of client funds by holding them in independently regulated bank accounts that are separate from the broker’s own assets. This practice aligns with the regulatory requirements set forth by the Financial Sector Conduct Authority (FSCA) and the Financial Services Commission (FSC), which mandate the segregation of client funds to enhance protection.
Aurum Markets Leverage
The broker offers leverage options up to 1:1000 for international traders, while South African clients are subject to a maximum of 1:30 for major currency pairs. These leverage levels comply with local regulatory requirements, distinguishing between retail and professional client classifications to ensure appropriate risk management.
Aurum Markets Withdrawal Review
How to Contact Aurum Markets?
Aurum Markets has received mixed feedback regarding withdrawal issues, with some users expressing concerns about delays and complications in accessing their funds. Complaints often center around the clarity and efficiency of the withdrawal process. Sources of these complaints include independent user reviews and trading forums. While the broker is generally responsive to inquiries, the volume of complaints suggests a recurring pattern, particularly related to withdrawal delays. However, there are no significant public complaints or regulatory penalties reported, indicating that while issues exist, they may not be widespread enough to warrant serious regulatory scrutiny.
Frequently Asked Questions
A1: Aurum Markets is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa and the Financial Services Commission (FSC) in Mauritius. However, it lacks oversight from a top-tier authority, which raises concerns about its overall safety and reliability in the financial market. Traders should exercise caution and consider the regulatory landscape before engaging with this broker.
A2: Aurum Markets ensures client fund protection by holding them in independently regulated bank accounts that are separate from the broker’s assets. This practice is in line with regulatory requirements aimed at enhancing the safety of client funds.
A3: User feedback on withdrawal processes at Aurum Markets has been mixed, with some users expressing concerns about delays and complications. While the broker is generally responsive to inquiries, complaints regarding withdrawal issues suggest that traders should be cautious and manage their expectations.
A4: Aurum Markets provides customer support through various channels, including email and phone. Traders can reach out via email at support@aurummarkets.com or call the support line at 230 245 8606 for assistance.
A5: The minimum deposit required to open a trading account with Aurum Markets is $10 for standard and cent accounts, making it accessible for new traders looking to enter the market.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.