What’s wrong with UMOO?

Listed Under: Affiliate News

UMOO.com was launched in 2009 and was marketed as a fantasy stock trading platform. One of the newcomers in the world of online forex and binary options trading industry. Taking a look back at UMOO now, (if one can access the site in the first place) can see a completely different scenario.

A lot was said and spoken about UMOO. Here’s one such article that was talking about the UMOO Social Tournaments. Besides the marketing fanfare, UMOO had also launched their affiliate program with Itai Ifrah as the affiliate director for UMOO. What’s been disappointing has been the way UMOO eventually closed it’s doors, without even sending a notice to the forex affiliates who were promoting UMOO.

So let’s take a look at UMOO’s background.

UMOO was managed by a firm called Kernox Trading. We sent an email to the one we were able to find but received no response. And our research also revelead that people such as Itai Ifrah, Ronen Israeli who were all past associated with UMOO.com and Kernox Trading have moved on. The question that does come to mind however is in regards to the customers/traders being compensated or at the very least were they paid back their balances.

There is an equal support amongst a few traders who had accounts with UMOO who have claimed that this was a site that was infact more leaning towards Gambling than having anything to do with the products they were actually promoting.

Another question that comes to mind is the state of play on the affiliate front. Doing a quick search for UMOO on Google reveals a lot of websites that still have links to UMOO. One can only wonder how many of the affiliates were paid out. While we wouldn’t want to come to any conclusions, going by the lack of any response or any update from Kernox Trading or UMOO, it’s anyone guess.

In the past we have seen 10Pips that went bust, but at the very least 10Pips, a brand that was launched by Plus500 at the very least compensated the affiliates who were promoting 10Pips and had some balance in their accounts.

As we always say, be careful when it comes to promoting affiliate programs, especially the ones that start with a big bang.