Uptos Review: Avoid Uptos.Com at Any Cost
Today, we’ll look into Uptos, an offshore trading business that has been on the market for over three years, despite being banned by multiple authorities.
They are an offshore based company that operates from the heavens for scam brokers that is called Saint Vincent and Grenadines.
And according to them, they are a leading brokerage in the world of FX and CFD trading. Which of course is a complete lie just like them and the fake license they present they have.
So, let’s learn more about this investment scam in our detailed Uptos broker review, where we will cover all the things you need to know about and why you should stay away.
|Unredulated scam broker
|Blacklisted as a Scam by:
|FSMA, CONSOB, CNMV, AMF, DFSA, FINACOM
|St. Vincent and Grenadines
|Online Trading Platforms:
|UpTrader ( WebTrader )
|Crypto Asset Trading:
|Yes (BTC, XRP, ETH)
|CFD Trading Option:
|Available Trading Instruments:
|Forex, commodities, indices, shares, cryptocurrencies
|Free Demo Account:
|Accepts US clients:
Regulation and Fund Security of Uptos
On the brokers website we read that the broker brand is owned and operated by a SVG-based company registered with the name Uptos LTD. Saint Vincent and the Grenadines is a well-known offshore zone and a preferred location for shady brokerage.
Furthermore, trading with an offshore, unregulated brokerage hides a lot of risk. There may be commingling which means that the brokerage may commingle together the finances of the firm and the finances of the clients. On top of this, while researching the brokerage on the web we came upon a regulatory warning issued by the Italian financial watchdog CONSOB.
Trading Platform Overview
Unlike some licensed trading companies, Uptos provides only a proprietary web trader. It is called UpTrader and according to the broker, it is the most advanced platform. Apparently provides more than 500 assets, without slippage and requotes. However, they don’t provide anything like social or copy trading, advanced TA tools or algo-trading.
In addition, the software is owned by the broker, meaning it’s easier to manipulate and change trade outcomes or steal customer funds. Unlike this one, third-party software such as MT4, MT5, or cTrader is far safer. Each of these has millions of users, which in itself speaks of safety.
Uptos Account Type
There are so many red flags already. But if you are still considering depositing with Uptos broker, here are options:
- Student $250
- Starter $2,500
- Premium $10,000
- Advanced $25,000
- Pro $50,000
- VIP $100,000
Ultimately, none of the accounts brings you any specific benefits. As that being said, it is obvious that their goal is just to extract as much as possible from their clients. Don’t fall victim to this or any other scam brokers shady and pushy tactics.
As mentioned, there’s no Uptos Demo account. If you want to test the system, you will need to pay the minimum deposit, which is $250.
Legitimate brokers often have Micro accounts starting at as low as $10 and free Demo. Using it, you can test the brokerage company and your trading skills and decide whether it’s the right time to invest.
Note: Stark Markets is another broker that doesn’t inspire confidence. They clearly lack a reliable license and that makes them a risky choice for everyone. We recommend you to stay away from this broker.
Funding Methods Available
In regards to the deposit methods, Uptos broker offers the following ones:
- Visa or Master credit or debit card
We also could not find any troubling provisions in the terms and conditions of the brokerage, but we did read that there is a dire trading requirement in order for the bonus promotion to be eligible for withdrawal.
Sadly, there are no listed options viable for Uptos withdrawal. The company didn’t tell us anything about how to get your money back or the waiting period.
They did, however, mention a 4% annual interest rate and an additional daily interest. Also, they mentioned rebates, profit shares, VATs, or tax duties. However, all this without displaying amounts or explaining what the brokerage has with your taxes charged by the IRS.
How Does The Scam Actually Work?
People sometimes become careless and leave personal information on the internet, and once these investment scams get a hold of them the harassment will likely start.
You will soon be overwhelmed with an enormous number of calls and even emails just so you will at least make a minimum deposit to this fraudulent broker. Be prepared to hear many made-up stories so they would appear more legit in your eyes.
Note: Similar fraudulent methods are used by PorterFinance broker. Be careful when choosing a broker for trading!
Don’t feel ashamed if you have ever fallen victim to this type of deception, many people do, just be sure to report your scammer. We also encourage you to reach out to us as we can help you.
In this Uptos review that we concluded, it was our mission to shine light on this offshore scam broker and many fraudulent activities they are trying to pull off. They allegedly offer their customers an opportunity to invest in forex, CFD, crypto, and much more. However, they have been issued a warning by some of the most well-known regulatory bodies across the world, including FSMA, CONSOB, and CNMV. This is just another clear sign that you are dealing with a scam.
On the internet there can be found many complaints made against the broker on withdrawal issues as well as high deposit amounts, so we concluded that you should just stay away from them.
Think twice before taking any risks while investing money and keep in mind that this investment scam will demand at least $250 while legit brokers will ask for as little as $5 as an initial deposit.
FAQs About Uptos Broker
Is Uptos Broker Regulated?
No, Uptos is not a legitimate or regulated broker you can trust so we advise you to stay away.
How Much Is The Minimum Deposit for Uptos?
The minimum deposit that we found is required for Uptos clients is $250.
Does Uptos Offer a Demo Account?
Unfortunately, it is not a surprise that this scam broker does not offer a demo account option for any potential new clients.