Arum Trade is a forex broker located in the Republic of Vanuatu, regulated by the Vanuatu Financial Services Commission (VFSC).
Arum Trade accepts clients from all over the world, excluding US, Canada, Afghanistan, Albania, American Samoa, Bahamas, Barbados, Belgium, Myanmar, Botswana, Cambodia, Cuba, Congo, France, Ghana, Guam, Iran, Iraq, Jamaica, Japan, North Korea, Libya, Mauritius, Nicaragua, Northern Mariana Islands, Pakistan, Panama, Puerto Rico, Spain, Suriname, Syria, US Virgin Islands, Sahrawi, Yemen, Zimbabwe.
Forex broker offers the following underlying assets for trading.
|70+ Currency Pairs||Based on major and minor world currencies.|
|5 Crypto Pairs||Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple.|
|11 Indice CFDs||Based on baskets of different blue-chip stocks.|
|7 Metal Spot CFDs||Based on Gold, Silver, Platinum and Palladium.|
|3 Energy Spot CFDs||Based on Crude Oil (WTI) and Natural Gas.|
Established in 2018, Arum Trade is an offshore-based forex broker that offers high trading leverage, a wide range of currency pairs to trade in, as well as access to the popular MetaTrader 5 platform.
Important to know about this broker is that it is based in the offshore jurisdiction known as Vanuatu. And although it is officially regulated by the Vanuatu Financial Services Commission (VFSC), this type of regulation is much more relaxed than what is common in regions like Europe, Australia or North America. As a result of this, trading conditions offered by the broker may be more flexible, and the sign-up and ID verification procedure is also easier than “onshore” brokers usually offer.
In all, Arum Trade offers trading in 69 major and minor forex pairs, as well as CFDs based on energy commodities, precious metals, major stock indices, and a selection of the largest cryptocurrencies.
All assets offered by this broker are traded on the MetaTrader 5 (MT5) platform only, which is available in versions for desktop, web, as well as Apple and Android mobile devices. At the time of this writing, neither the MT4, nor any other trading platforms, are offered by Arum Trade.
In addition to its standard live trading account, Arum Trade also offers a so-called PAMM account (percentage allocation money management) for investors to let other traders manage their money in return for a share of the profits. Further, multi-account manager (MAM) functionality is also available from Arum Trade for traders who manage accounts on behalf of others.
As a typical STP-type broker, Arum Trade generally does not charge commissions on trades, but instead makes money from the spreads between buy and sell prices of their trading instruments. According to the contract specifications on the broker’s website, the average spread is 0.8 pips on the popular forex pair EUR/USD, which is usually the pair with the lowest spreads and most liquidity in the market.
Although cryptocurrencies such as bitcoin can be traded at Arum Trade, the broker unfortunately does not accept crypto for deposits and withdrawals. Instead, this broker relies on traditional e-wallets as funding methods, including Skrill, Neteller, Perfect Money and Astro Pay. Interestingly, this is also one of just a few brokers that does not accept bank transfers or even major payment cards for deposits and withdrawals.
Important to keep in mind with this broker is also that although deposits are accepted free of charge, it still charges a 5% fee on all withdrawals. Unfortunately, this is in our opinion way too high, and should be lowered. However, one thing we do like is that the minimum deposit to start trading is just USD 1, and this is also the same amount as the minimum withdrawal amount.
In terms of customer service, Arum Trade can be reached via phone or email on all trading days between 9:00 and 18:00 (UTC-6). We also appreciate that support is available in three different languages,including Spanish, Russian, and English, each through separate phone numbers.
All in all, we believe Arum Trade may become a popular offshore broker for traders who are seeking higher leverage on the MT5 platform. However, the currently high withdrawal fees and somewhat limited selection of trading instruments means that this broker’s offering is still lacking in several respects compared to some of its competitors.