Aurum Markets is a Forex and CFD trading brokerage firm that provides a variety of trading instruments in different asset classes, including Forex, CFDs, Precious Metals, Commodities, CFD Indices, and Cryptocurrencies.
Based on our research, the company operates under the authorization and regulation of the reputable South African Financial Sector Conduct Authority (FSCA), which ensures compliance with regulatory standards. Additionally, the broker is officially registered in both Mauritius and Saint Vincent and the Grenadines and holds a license from the Financial Services Commission in Mauritius. This regulatory framework allows the broker to extend its services internationally and throughout the African region.
Regulation and Security Measures
Aurum Markets is a legitimate and regulated broker that follows the necessary regulations for offering Forex trading services. Compliance with the regulatory requirements set by FSCA, which is a rather good regulatory body in the financial industry, enhances the safety and confidence of traders who choose to trade with the broker. This regulatory authorization suggests that the company operates within the legal framework and is subject to certain industry standards.
However, the broker also holds an offshore license from the Financial Services Commission of Mauritius (FSC). Therefore, before engaging in trading activities, traders should carefully consider and understand the differences when trading in different jurisdictions.
How Safe is Trading with Aurum Markets?
Based on our research, the FSCA has a substantial weight in the financial services industry. As part of its oversight, it requires brokers to keep client funds separate from their accounts, protecting them. Additionally, Aurum Markets provides negative balance protection, which ensures that clients do not incur losses exceeding their account balance.
Consistency and Clarity
We have reviewed the broker’s development over the years to see how consistent Aurum Markets has been in its services. As we found, the broker is available in more than 79 countries and has over 150k trading accounts opened. Besides, Aurum Markets has also obtained the FSCA license and expanded its services to the African region. Today, the broker is available in Asia, Southeast Asia, East Asia, and Africa.
In addition to its consistent development, Aurum Markets has also been recognized in the financial field and has gained awards for its operations.
However, the research on customer feedback reveals that the clients are not overly satisfied with the broker’s services. Some traders point out the absence of tight regulations, while others report withdrawal issues, which are too many to neglect. We also found positive reviews, pointing out the dedicated customer support, good trading conditions, and advanced platforms.
All in all, the broker shows consistency and transparency in the proposal. Yet, traders should be careful about the differences between the broker’s entities, especially global clients who trade under offshore regulations.
Account Types and Benefits
We found that Aurum Markets offers Standard and ECN Accounts, each offering various account types. These accounts come with unique features such as different leverage, spreads, and minimum deposit requirements, allowing traders to select an account that suits their preferences and expertise.
- The Standard accounts are tailored for beginner or intermediate traders and include Cent, Standard, and Ultra accounts. The leverage availability is the same for all three accounts, up to 1:500. The Cent and Standard accounts require a lower deposit, at $10, while to start an Ultra account, traders need to make a $200 initial deposit.
- The ECN accounts include the Trader, Elite, and Raw ECN accounts. These accounts are suitable for more advanced trading needs, with higher deposit requirements compared to the Standard accounts. For the Raw ECN account, the initial funding is $1,000.
- Additionally, the broker extends swap-free trading options to cater to the diverse needs of its clients. The Islamic account holders can also access free webinars, seminars, and tutorials.
Cost Structure and Fees
We have carefully reviewed the broker’s fee structure and found that Aurum Markets offers competitive pricing for most trading services. For the Standard accounts, all trading charges are integrated into spreads. The broker charges commissions for its more professional ECN accounts only.
- Spreads
Based on our test trade, the broker offers competitive variable spreads, with an average spread of 1.8 pips for the EUR/USD currency pair in the Forex market. However, spreads can vary based on market conditions, volatility, and liquidity. Spreads also depend on the account type. For more professional accounts, spreads are very low, combined with standard commissions. For more accurate information on spreads for each instrument, traders should consult the broker’s website or contact their customer support for detailed information.
- Commissions
Aurum Markets offers a spread-based and commission-based fee structure. This system allows diversity, as each trader can choose the more favorable structure based on their trading expectations. As we found, commissions are applied to the broker’s more professional account types, Elite account ($3.5 per side per trade) and Raw ECN ($2.5 per side per trade).
Trading Platforms and Tools
At Aurum Markets, clients can trade through the popular MT4 and MT5 trading platforms. These platforms are widely used in the financial industry and offer a user-friendly interface, advanced charting tools, and a range of technical analysis features.
Additionally, the platforms are accessible on desktop, web, and mobile devices, providing traders with the flexibility to choose the option that aligns with their unique trading preferences and strategies.
Web Platform
Aurum Markets allows traders to conduct trades through the web version of the popular and demanded MT4 and MT5 platforms. The platforms are available through the browser and do not require any downloads or installations. The web platforms offer good functionality and a diversity of advanced tools and features. The platforms support advanced charting tools, various timeframes, different order types, automated trading, and copy trading, ensuring traders access the same opportunities and advanced trading conditions.
Desktop MetaTrader 4 Platform
We find the broker’s MT4 platform very functional and equipped with essential tools and features. With Aurum Markets’ MT4 platform, traders can enjoy a full suite of advanced features, including interactive charts, 9 timeframes, more than 30 technical indicators, trading robots, strategy tester, Meta editor, and analytical and trading indicators.
The platform also supports 16 languages, real-time quotes, and an overall user-friendly interface. The platform is available for different operating systems, including Windows and macOS.
Desktop MetaTrader 5 Platform
The platform offers a variety of trading tools to assist traders in making informed decisions. These tools include technical analysis indicators, charting features, and market research resources. Moreover, advanced features such as algorithmic trading and Expert Advisors (EAs) are also available on the MetaTrader platforms, allowing automated trading strategies. The platform also supports copy trading, ensuring traders make use of alternative investment options. What is more, clients can also access the Virtual Hosting System to elevate the quality of their trades.
The platform is easily reachable through web, desktop, and mobile options and can be downloaded on any device.
MobileTrader App
Aurum Markets ensures that its traders experience flexibility and functionality through the MT4 and MT5 mobile apps. The mobile versions of the platforms include all the essential features for efficiency and functionality, ensuring that traders experience a high level of trading on the go and do not face restrictions. Thus, clients can access a range of financial assets with competitive fees and advanced tools, making use of charts, trading indicators, multiple timeframes, on-click trading, different order types, and more.
AI Trading
Our research also reveals that Aurum Markets offers a few AI-powered tools for its copy trading features. These features assist traders in identifying trading opportunities and simplify the process of decision-making for traders, especially for less experienced clients.
Trading Instruments
The broker provides access to popular trading instruments, including Forex, CFDs, precious metals, commodities, CFD indices, and cryptocurrencies. However, we found that the total number of available trading products is 80. Most of the broker’s products are based on CFDs.
In addition to the limited number of trading instruments, the broker also does not support long-term or traditional investments. Traders profit from speculating on the price movements instead of owning the underlying asset. Besides, Aurum Markets does not offer shares, stocks, or ETFs trading.
Leverage Options
Leverage is a substantial tool that enables traders to enter the market with limited capital. However, its use can lead to substantial profits or losses. As such, traders should have a comprehensive understanding of how leverage works and its possible consequences before engaging in any trading activities that involve leverage.
Aurum Markets leverage is offered according to the FSCA and FSC regulations:
- Trades from South Africa are eligible to use low leverage up to 1:30 for major currency pairs.
- International traders may use higher leverage up to 1:500.
Deposit and Withdrawal Options
Deposit Options
The broker offers multiple funding methods to facilitate deposits and withdrawals for its clients. These include bank transfers, credit/debit cards, and popular e-wallet services. These options ensure flexibility for traders to choose the most convenient and secure method for their financial transactions.
- As we found, all the deposits are instant, except for bank transfers that may take up to 1 business day.
- Besides, the broker does not apply any commissions for deposits and withdrawals.
Minimum Deposit
To open a live trading account with the broker, traders need to deposit $10 as an initial deposit amount for Standard and Cent accounts, which is considered a very good offering. For the Ultra account, the minimum deposit amount is $200, and for the ECN Elite account, it is $500.
The ECN Raw account is suitable for more advanced traders and requires a $1,000 initial funding.
Withdrawal Options
As we found, withdrawing funds from the account is easy and fast. Aurum Markets allows clients to withdraw funds using various methods, including bank transfers, credit/debit cards, and e-wallets.
- Based on our research, there are no transaction fees for withdrawals, regardless of the funding method.
- The withdrawal processing is instant for most of the methods. For bank transfers, it might take up to an hour to complete withdrawals.
Customer Support and Responsiveness
Aurum Markets provides 24/5 customer support via phone line, live chat, and email. Additionally, the support team includes trading experts to assist with different technical and trading-related issues.
- The broker also has an FAQ section that includes detailed answers to common questions.
- Besides, Aurum Markets is also available on social platforms, including Facebook, X, and YouTube.
Research and Education
Research and analysis tools are an important part of a profitable trading experience. Based on our findings, Aurum Markets’ trading platforms are equipped with extensive analytical tools and features to assist traders in their trading journey.
- Aside from the features available on the broker’s MT4 and MT5 platforms, traders can access the Autochartist. The tools available on Autochartist automate the market analysis process and provide traders with predictions. Traders also get real-time signals based on past and present market trends.
- Traders can also subscribe to the broker and get daily market insights directly in their inboxes.
Research revealed that the broker’s website lacks comprehensive learning materials, seminars, and webinars, providing only some information on how to use MT4. This limitation is a drawback as robust educational resources play a crucial role in the improvement of traders’ skills and knowledge.
