Uptos is a forex brokerage located in the Saint Vincent and the Grenadines and allegedly owned by Uptos Ltd. In the review below, we take an in-depth look at the features Uptos allegedly offers. This review aims to explore the trading platform, listing out aspects like licensing, its leverages, account types, and its withdrawal and deposit methods. It also aims to fact check claims that have been made by Uptos to determine whether it is safe enough to trade with or if it is just one gigantic scam.
Table of Contents
Uptos Trading Platform
Uptos.com claims that they line up their clients’ needs and financial objectives by offering exceptional trading services.
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The site flaunts its support of the MT5 trading platform. But in reality, they only support a web-based terminal, offering assets such as Forex (with leverages up to 1:400) CFDs, Indices, Stocks, and Precious metals.
Uptos Account type
Uptos.com offers six different types of accounts.
- Student account with Min. Deposit of $250
- Starter account with Min. Deposit of $2,500
- Premium account with Min. Deposit of $10,000
- Advanced account with Min. Deposit of $25,000
- Pro account with Min. Deposit of $50,000
- VIP account with Min. Deposit of $100,000
What is interesting is that the first two account types have exactly the same perks
0.01 Min Lot Size
Metatrader 5
Mobile Trading
24 Hour Trading
We don’t know the motivation behind this pricing technique.
Uptos Deposit and Withdrawal Methods
The brokerage support, Visa and MasterCard, American Express, however, e-wallets such as we money, Skrill and Neteller are not available.
There was no mention of any withdrawal fees on the site. However, we warn against dealing, dealing with unsubstantiated brokerage as we never know if they won’t charge unexpected fees once the clients have deposited their funds.
Another risk is that might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume in order to be eligible for withdrawal. This is purposefully done in order to stop traders from making a withdrawal.
Is Uptos licensed
Uptos.com lists its address as Griffith Corporate Centre, St. Vincent & Grenadines. It doesn’t bother to give any more information concerning its licensing.
Saint Vincent and the Grenadines is a well-known offshore zone, and a preferred location for shady brokerage. Although this broker doesn’t claim to be regulated by the government of SVG, the government of the SVG has stated in the past it does not regulate any form of forex trading.
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Conclusion
We wouldn’t recommend using this forex brokerage, we are not impressed with the vague information they have provided.
In conclusion, we wouldn’t advise or recommend you to trade with Uptos.com as they don’t give any information concerning if they are a regulated broker.
Uptos.com is likely a platform run by scammers, trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.