UpBitFxPro Review: Illegitimate Entity

UpBitFxPro Review: Illegitimate Entity

UpBitFXPro claims it has been empowering investors since 1986. The platform does not mention changing its name or existing using a separate domain. When the broker was established, we found the company registration took place in June 2022. The venture is faking its history. 

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It is awful when you cannot rely on a company with such minor details. The platform does not bother about clients’ success. Their promise to help customers take control of their finances is vague. 

UpBitFXPro claims it provides fast and seamless access to the forex industry. It does not matter if the market is volatile. The entity entrusts its capable team to help clients sore to their success. The problem is the team is anonymous. We cannot affirm the individuals are qualified. 

You must trade with reputable ventures. Choose brokers that operate in full transparency. The platform lacks a trading history. Furthermore, if the entity is as experienced as it purports, it would not shy away from featuring its trading performance. Ironically, the venture wants us to believe it has been around for all these years without having audited results. Review

UpBitFXPro even claims to be sponsoring sports teams. Influential brokers do support football and other sports teams. Sadly, the claims of this firm are false. The entity uses stock images to present its team. The firm fails to feature the team’s educational background and trading experience. Moreover, the individuals on their website are not the actual scammers behind the scheme. 

The company brags is also accepting investors who lack trading skills. It sends trading signals and trading analysis to them. Investment is all about the numbers and proof. Unfortunately, we cannot merely rely on the scheme’s words. We must authenticate the information. 

UpBitFXPro allegedly has won an award for being the best forex broker provider. The organization that awarded the scheme the title is not mentioned. This is another marketing strategy. The venture is trading forex, indices, cryptos, and shares. These are volatile products. You must have excellent trading skills to navigate the market. 

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Additionally, choosing a reliable licensed forex company comes in handy. You get to enjoy better trading conditions while earning real-time returns. Genuine companies work with professionals and provide transparent services. You can also use their learning materials to gain better skills. 

UpBitFxPro Trading Conditions 

UpBitFXPro is not an investment platform. You cannot trade in this company since there is no existing trading software. It is only the scammers behind the entity who knows what they are going to do with your cash. There are three trading accounts.

The minimum amount to deposit in the basic account is $500. The exploitative venture charges more than the legitimate firms, yet there are no investment services or products. Review, Accounts

UpBitFXPro spreads for the major currency pairs are 3 pips. The limit is unprofitable, and traders will pay $30 for every lot. The market standard is 1.5 pips. The leverage for the standard account is 1:500. The limit is hazardous, and if indeed the scheme is licensed in the UK  and Australia, it can only offer 1:30 leverage. For the US brokers, the cap is 1:50

Novice traders should stay away from such risky leverage. You must prove you are experienced in the market to enjoy a high leverage cap. UpBitFXPro does not follow any criteria to ensure customers are qualified to handle such trading benefits. 

Withdrawal and Deposit 

UpBitFXPro accepts funds only via cryptocurrency. This does not come as a surprise, considering you are dealing with scammers. Digital currency payments are untraceable. Therefore, they work perfectly for fraudsters. The scheme also limits customers from issuing a chargeback. 

We are unaware of the minimum amount you can deposit. Additionally, the applicable fee information is missing from the website. Your money is most likely going to be trapped in the website. Watch out for such suspicious schemes. 

Contact Details and Customer Support 

UpBitFXPro offices are at Kuningan, Jakarta. Customer support is accessible via email and phone. The cell number code is from the USA. It is impossible to pinpoint the functional area of the broker. Nonetheless, this scheme is certainly untraceable.

The support will be unreachable once you realize you are dealing with con artists. The venture lacks customer feedback. Therefore, ensure you are dealing with a genuine company that cares about your development. If you encounter any challenge, you should be able to reach the support in time. 

UpBitFxPro Regulatory Status

The company purports it is operating legally in the USA. The entity state it has a license from the Securities Exchange Commission (SEC). However, this is not the regulatory body of the USA. There are two separate bodies supervising the activities of investment firms. The National Future Association (NFA) and the Commodities Future Trading Commission (CFTC). 

A regulatory agency that wishes to collect funds from US citizens must deposit a $20 million capital. The amount is kept in a segregated account separate from the traders’ account. This shady venture cannot afford the set capital. Furthermore, after checking the database of the financial bodies, we did not find the broker’s name. 

UpBitFXPro also claims it is authorized by the Financial Conduct Authority (FCA) and Australia Security Exchange Commission (ASIC) to operate in their jurisdiction. The financial bodies the scheme associates itself with have strict requirements. For instance, the firm cannot operate in the UK without having 730K EUR capital. 

This is an offshore scheme that is operating illegally in strict jurisdiction regions. The company can do whatever it pleases and exit the market. There is also no binding contract between the company and customers. All genuine companies have legal documentation. The policy allows clients to know what to expect from the broker. 

UpBitFXPro is not worth your time. You are better off without the scheme. The best thing to do is to look for a reliable, transparent firm. The market is flooded with scammers lying they are licensed.  

UpBitFxPro Fund Safety 

The scheme is completely risky to venture with. There is no evidence of trading activities taking place on the website. Additionally, the firm lacks a trading interface. Hence, they cannot report daily trading results to the relevant authority. UpBitFXPro is not an investment scheme. Soon the entity will be out of the market.

The most likely thing is that the broker is manipulating figures. They will show you how good you are doing on your portfolio. However, once you request the withdrawal request, the narrative will change. At first, the entity will request you cash in more funds for even greater rewards. If you do that, the broker will drastically lose all the funds. 

UpBitFXPro does not protect investors against negative account balances. You can lose more money than what you deposited. Despite the entity’s claims to be the leading forex scheme in the industry, no trader endorses the scheme. If the broker becomes bankrupt, then customers won’t receive compensation. 

The domain name of the website is recently registered. The traffic is also unpleasant. This proves this is an infamous platform. UpBitFXPro lacks trading conditions. Therefore, you could lose all your income and deposit. It would also be hard to sue the venture since there is no contract.

Final Verdict 

 UpBitFXPro is a company that fakes its regulatory body. The scheme is only after your money. You cannot trade or learn how to invest from this suspicious scheme. The broker does not present trading results or other evidence to prove it deals with investment services. 

Here is a list of genuine and transparent forex companies to try out. You will generate passive income and enjoy better trading results. These platforms also have terms and conditions. We recommend you review the policy and determine if the platforms are worth your time.


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