General Information
Established In 2018, Arum Trade Is An Offshore Forex Broker That Offers High Trading Leverage, A Wide Range Of Currency Pair Trading, And Access To The Popular MetaTrader 5 Platform.
An Important Thing To Know About This Broker Is That It Is Located In An Offshore Jurisdiction Known As Vanuatu. Although It Is Officially Regulated By The Vanuatu Financial Services Commission (VFSC), This Type Of Regulation Is Much More Lenient Than Is Common In Regions Such As Europe, Australia, Or North America. As A Result, The Trading Conditions Offered By The Broker May Be More Flexible, And The Registration And Identity Verification Procedures Are Also Easier Than Those Typically Offered By "onshore" Brokers.
Market Tools
Arum Trade Offers Trading On A Total Of 69 Major And Minor Forex Pairs, As Well As CFDs Based On Energy Commodities, Precious Metals, Major Stock Indices, And Select Largest Cryptocurrencies.
Trading Platform
All Assets Offered By This Broker Are Traded Exclusively On The MetaTrader 5 (MT5) Platform, Which Is Available In Desktop, Web, And Apple And Android Mobile Device Versions. At The Time Of Writing, Arum Trade Does Not Offer MT4 Or Any Other Trading Platform.
Account Types
In Addition To The Standard Live Trading Account, Arum Trade Also Offers Investors A So-called PAMM Account (Percent Allocation Funds Management), Allowing Other Traders To Manage Their Funds In Exchange For A Share Of The Profits. In Addition, Arum Trade Also Offers Multi-Account Manager (MAM) Functionality For Traders Who Manage Accounts On Behalf Of Others.
Spreads And Commissions
As A Typical STP-type Broker, Arum Trade Typically Does Not Charge Trading Commissions, But Rather Makes Money From The Spread Between The Bid And Ask Prices Of Its Trading Instruments. According To The Contract Specifications On The Broker's Website, The Popular Forex Pair EUR/USD Has An Average Spread Of 0.8 Pips, Which Is Usually The Currency Pair With The Lowest Spreads And The Most Liquidity On The Market.
Take Payments
Although Cryptocurrencies Such As Bitcoin Can Be Traded On Arum Trade, Unfortunately, The Broker Does Not Accept Cryptocurrencies For Deposits And Withdrawals. Instead, The Broker Relies On Traditional E-wallets As Deposit Methods, Including Skrill, Neteller, Perfect Money, And Astro Pay. Interestingly, This Is Also One Of The Few Brokers That Does Not Accept Bank Transfers Or Even Major Payment Cards For Deposits And Withdrawals.
The Important Thing For This Broker To Remember Is That While It Accepts Deposits For Free, It Still Charges A 5% Fee On All Withdrawals. Unfortunately, We Think This Is Too High And Should Be Lowered. However, One Thing We Like Is That The Minimum Deposit To Start Trading Is Only $1, Which Is Also The Same As The Minimum Withdrawal Amount.
Client Support
On The Client Server Side, You Can Contact Arum Trade By Phone Or Email Between 9:00 And 18:00 (UTC-6) On All Trading Days. We Also Appreciate That Support Is Available In Three Different Languages, Including Spanish, Russian And English, Each Of Which Is Available Via A Separate Phone Number.
All In All, We Believe Arum Trade Could Become A Popular Offshore Broker For Traders Looking For Higher Leverage On The MT5 Platform. However, The Current High Withdrawal Fees And Somewhat Limited Choice Of Trading Tools Mean That This Broker's Offering Is Still Lacking In Several Respects Compared To Some Of Its Competitors.
