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Up4Profit (up4profit.net) is a trading platform that quickly becomes a nightmare. Those who have invested and tried trading with the broker are up in arms. Up 4 Profit is a trading platform that swindles funds.
Our clear up4profit review will expose the broker’s intent. We will reveal all the red flags found on the broker’s platform. These include non-existent conditions and risky leverage. Please go ahead and find out more in our exclusive up4profit.net review.
Note: Here are expert-backed strategies for investors looking to try out crypto. These strategies offer investors a chance to go over their investments. Instead, go for platforms that encourage realistic results and enjoy the backing of the crypto community.
The about us page hits visitors with a bold claim of having over half a million active users. We see a broker selling themselves as an international affair. Those who fall for such antics end up losing every dime deposited.
There’s a reason we value due diligence when investing with brokers. Please confirm with the crypto and forex community whether a broker is legit. By doing so, you protect yourself from misery.
You won’t get to see any legit background story of the broker. No entity doesn’t have a background story. Where it all started and the people behind it. That’s not the case with this trading platform.
The broker offers six account types with five trading assets available for trading. You won’t get to know the trading conditions until you sign up with the broker. Security standards are out of date, with the broker offering web terminals.
You won’t get DDoS protection or SSL encryption on this platform. And that means hackers can easily take advantage of the loophole. When funding your accounts, the loophole includes taking your bank and credit card details.
After checking out what Up 4 Profit offers, here’s what we’ve learned.
That’s a sad undertaking, as the web platform is slow at executing trades. Those who have signed up with the broker have a hard time engaging with the terminal. Slow at executing trades means placing your orders and getting no desired results.
We have seen this before, so the best terminals to use are MT4 and MT5. These terminals offer investors a chance to engage with members. You have a platform that doesn’t offer much in terms of creativity. Go for platforms that engage with reasonable terminals.
The advantage of using MT4 and MT5 has reliable tools. Even newbies find it easy to start using the interface. You get embedded robots that help with the accuracy of placing trades. There are charting tools and a barrage of several analysis tools.
You also get a 21-timeframe platform with either of the two. However, with the web-based platform, instability is an issue. The platform often fails to upload the full assets and laid conditions. With such issues, members eventually fail to make the right trading moves.
There are six accounts to choose from: starter, premium, premium plus, business, luxury, and Black Pearl. Let’s take a closer look at each of these accounts that target a different demographic of traders.
It’s the most basic account, with investors having to deposit €250 to start. Members enjoy floating spreads starting from 0.5 pips. There’s a 10 percent welcome bonus with margin and stop call set at 25 and 15 percent, respectively.
€2,500 is the available trading platform set for this account. Members enjoy maximum leverage of 1:80 and 1:100. There are floating spreads as that of the starter account, 0.5 pips. There’s a 15 percent welcome bonus.
The premium account holder has a minimum acceptable deposit of €25,000. Spreads start from 0.7 pips with leverage raised to 1:120. An 18 percent welcome bonus with margin and call-out levels remaining the same.
You have to deposit €50,000 to get started with the business account. Members enjoy floating spreads of 0.4 and a maximum leverage of 1:200. You also get a welcome bonus of 30 percent with optional swaps available.
The luxury account is one of the two most exclusive tiers. Members must deposit 75,000 to get started. Floating spreads start from 1.3 pips with leverage set at 1:300. There’s a 22 percent welcome bonus.
It’s the most exclusive account of them all. The broker insists on a minimum deposit of €100,000 to get started. After that, members enjoy floating spreads of 1.5 pips with maximum leverage of 1:500. You also get a 245 percent welcome bonus.
It’s clear to see the broker jumps the line when it comes to acceptable leverage. The broker also fails to offer fair spreads in most of these tiers. So you get a broker failing to provide much in terms of fair tiers.
Leverage should not exceed 1:100, especially for forex assets. We can expect leverage of 1:500 for crypto due to the market’s volatility. Unfortunately, that’s not the case here, and the broker fails to offer much in terms of fair leverage positions.
Before you partner with any online trading broker, make sure they are legit. Otherwise, those you direct to the platform will be victims. And you will face the wrath of victims as the broker will have closed shop by then.
The broker fails to offer any commissions to affiliates. Instead, we see a broker hell-bent on taking advantage of affiliate connections. Please find out whether a broker is legit or you will be held liable for losses made by these members.
With a welcome bonus of over 15 percent, these are the highest we have seen in a while. Unfortunately, the broker does a shoddy job in attempting to offer much in terms of creativity. That’s why we have to face the risk of avoiding such brokers.
High bonuses attempt to get members to sign up with the platform. But instead, you get a broker who doesn’t offer much accountability and transparency. And that’s how much you lose your interest with the broker.
Information on who owns or runs the store remains a huge issue. Those behind this platform want to remain behind the curtain. And that makes Up4Profit an anonymous crypto and forex trading platform.
Avoid anonymity at all costs. The broker will try and hide behind the veil for one reason. Once you start asking questions, it’s easier for them to cut you out. After that, you won’t have any person to blame but yourself.
Up4Profit is not a licensed crypto or forex trading platform. You can be sure regulators are probing the platform with numerous complaints. Sign up with reputable trading platforms that offer real liquidity services.
Check with reliable regulators such as ASIC, BaFIN, CNMV, CONSOB, FCA, and the SEC. You can also check with your local regulator to confirm compliance. Avoid brokers who go for offshore-based licenses, such as the Marshall Islands or St. Vincent and the Grenadines.
Please stay away from this broker.
PS: Join thousands of successful crypto investors who rely on solid crypto investments.
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