Uptos Review Summary
Uptos Review Highlights
Pros & Cons
- Six different types of account
- No withdrawal fees
- Not Regulated
According to the company itself, Uptos is an fx brokerage on the forefront of the industry and has competitive terms for trade.
The firm acts as a multi-asset platform for trade with more than 250 assets covering lots of classes like currencies, stocks, commodities, energy, derivatives… Traders can also find the renown MT5 platform and leverages of a max of 400:1.
Is this company legit?
This brokerage is not secure for trading, seeing how it functions as an offshore broker. The firm Uptos LTD functions as a business for financial investments under the jurisdiction of Saint Vincent and the Grenadines.
Seeing how the aforementioned country is an offshore area, this means that there are no strict guidelines Uptos has to follow. The company is not overseen as it should be and isn’t in compliance with laws spanning the globe that are put in place to secure traders from fraudulent activities.
Other companies, such as CVC Markets and AAG Markets also sought a base there, just like additional various underground fx brokerages.
Moreover, Italy’s regulator CONSOB put Uptos on the blacklist. This was explained as part of a move of conducting the blackout of web pages held by fraudulent financial third-parties and as made possible by a new law that allows blocking platforms through which fraudulent bids are done.
They were further banned from trading in the EU and made aware of by European Union authorities. CONSOB shared their findings with other jurisdictional authorities, as to ensure stable marketplace offers, trader safety, the possibility of counting on financial services, etc.
They strongly advised all people not to trade via Uptos and similar offshore entities.
If you have inquiries you want to take up with Uptos, there is an option of the Live Chat where your inquiries should find answers. Moreover, the support desk works 24/5.
Other ways to contact the firm is via phone (+18559253933) and mail ([email protected]).
If you are the owner of this platform you can manage this account. First you need to claim the ownership of the platform.