Thinking of getting into business with Ultraprime4x? Here is what you must know about this broker. Carefully read this review to find out if ultraprime4x.com is the trading platform you will want to trade with.
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About Ultraprime4x Broker
Ultraprime4x is an offshore brokerage company with a lot of promises for traders. The broker address shows London, United Kingdom as well as Canada.
There are different account types the broker offers.
To clarify, regardless of the trading instruments Ultraprime4x claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
ultraprime4x.com: Reasons to Avoid This Broker
Firstly, ultraprime4x.com is a platform with no financial authority overseeing its financial services. We discover Ultraprime4x is not worth your money because neither of Financial Conduct Authority (FCA) nor the Investment Industry Regulatory Organization of Canada (IIROC) has approved the broker among licensed brokers.
Secondly, we noticed ultraprime4x.com has a free account for traders. We advise you don’t waste your time on that, so you don’t get lured into trading real fund with this unregulated broker.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Withdrawal and Deposit
Withdrawal process
Under withdrawal policy, Ultraprime4x withdrawal process takes 2 business days with the claim of zero commission. As for an inactive account, the broker charges 30%.
Minimum Deposit
Ultraprime4x minimum deposit is pegged $100 according to the account type.
As for the payment methods, the broker discusses Bank Wire only. Truly, you should not consider making any payment with this broker because it is a risk. So beware!
Ultraprime4x Platform
Ultraprime4x claims to offer Web Based Trader and MT5 (Industry standard trading platform), however, the option of MT5 doesn’t make the broker legit because any scam broker can do the same to lure forex traders.
As for the leverage, the broker mentions 1:1000. Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Ultraprime4x Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion: Is ultraprime4x.com a Reliable Broker?
No, ultraprime4x.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to find out scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
Hi my name is Elizabeth, I was scammed by a Binary online website in march. I lost about $450,000 to them and they denied all my withdrawal request, and gave me all sort of filty request. It was a really hard time for me because that was all I
had and they tricked me into investing the money with a guarantee that I
will make profit from the investment. They took all my money and I did
not hear from them anymore. I was able to recover all the money I lost just last month with the help of Mr Wilfred Scott. I paid 10% of the recovered funds as his service charge after I got all my money back. I am really grateful to him because I know a lot of people here have been scammed and need help. Contact him using the email above which is [email protected]