Upsalefx Review: is a Poor Scam

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Upsalefx Review: is a Poor Scam

Upsalefx purports to be an investment venture. They provide information on their activities. Investors looking for an opportunity to generate passive income may stumble on the website. However, before depositing your funds in any venture, performing a thorough background check is important.

The broker has numerous red flags. One of them being nobody oversees the operation of this entity. It is an offshore company. Rarely do such schemes survive long in the market. They end up leaving their clients high and dry. 

Upsalefx Review, Upsalefx Company

Upsalefx is a crypto investment platform. They sing of crypto advantages and the benefits investors can enjoy. Many Ponzi schemes target naive investors. Cryptocurrency used to be a lucrative opportunity, and early investors did yield great rewards. 

Currently, the market is populated, and there are numerous tokens. Suppose you come across a broker promising unreasonable returns, approach with caution. There is limited data regarding the mechanism deployed by the entity. They only disclose the minimum amount one can deposit. 

Choose some of the best cryptocurrency schemes in the market. These are companies operating in full transparency. All the information is available to the public. Their conditions are clearly outlined without malice. Their main aim is to help customers earn passive income. Review

We do not see any unique feature or benefit presented by the broker. The trading conditions of the platform are sickening. You can find a reputable company in the market instead of wasting funds and time on an illegal scheme. The platform deceives potential clients it is legally in business. 

The people running Upsalefx are doing it discreetly. What is the reason for hiding if they are not doing anything wrong? A legit company will let you know the people handling your funds. Additionally, their qualifications will be featured on the website. This boosts the confidence of traders, knowing they are dealing with experts. 

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Unfortunately, scammers are tactical and revealing their identity would make the authority come after them. Moreover, the platform does not offer fund safety. The venture fails to provide banking information. It is not a mistake or something they forgot to do. Depositing money in the system will go directly to the con artists’ packets. 

Any recovery attempt will hit a hard rock. Never trust an ambiguous firm. It is the quickest way to lose money. Be smart and perform thorough research on a company. It provides you with peace of mind. 

Trading Conditions of Upsalefx

Upsalefx is using a web trader interface. It is impressive, yet we do not recommend trading with such platforms. Scammers tend to use such software because they can easily manipulate the price. 

Moreover, there are way better platforms with multiple features. Web traders have limited functionality. Available assets include; bonds, stocks, indices, EFTs, and cryptos. Clients can expect leverage of 1:200. If the entity was operating in the UK, it could only provide 1:30 leverage. 

The financial watchdogs restrict the market to protect investors from huge risks. It would help if you were cautious with the limit. High caps open opportunities for greater rewards. You should not forget the market is volatile. Therefore, you can also lose a significant amount of money.

On the other hand, Upsalefx provides a spread of 3.3 pips on the EURUSD pair. Investors won’t yield attractive returns. They will end up paying more to open a trade. You can trade with a transparent firm and get a tight spread below one pip.

Withdrawal and Deposits 

Investors can deposit 1 BTC as the minimum capital. This is beyond the market standard. 1 BTC is equivalent to 46,917 at the time of this review. Upsalefx fails to disclose the payment methods available. However, considering their minimum deposit is in BTC, we suspect the broker only accepts funds via crypto options. Review, Negative Reviews

The option limits clients from issuing a chargeback. The suspicious firm lacks legal documentation. It is therefore impossible to know the minimum amount to cash out. They may have hidden terms. This is not a serious platform. Please refrain from doing business with them and find a genuine broker. 

Customer Support and Contact Details

The office address indicates the firm is operating in the UK. However, this is a false claim. The fraudsters feature the information for the public to view as transparent. Ironically, Upsalefx expects clients to provide personal data to verify the account.

Giving access to such shady individuals opens doors to many undesirable outcomes. Lest you forget, identity theft is on the rise. You could end up being incriminated. Investors can reach the platform via email and phone. 

Upsalefx is the kind of entity that cannot afford quality support. The whole time you will be dealing with their sales rep. They are convincing, friendly, and tactical. They will cut you off once they realize you have run out of funds or suspect their operation. 

It is impossible to reach them. The email will also not be read. The scammers have nothing to lose. It is also impossible to go after them. The only choice you have is to avoid offshore firms. 

Regulatory Status of Upsalefx

For a company to operate legally in the UK, it must acquire a license from the Financial Conduct Authority (FCA), the country’s regulatory agency. Getting the license is not walking in the park. A broker must prove its capability to run a business successfully.

They must be working with professionals. In case of any shortcoming, the authority knows who to come after. Additionally, a scheme must deposit capital of 730,000 EUR. The amount proves the firm can withstand the volatility in the market. Moreover, customers’ funds won’t be misused. 

Upsalefx is not in the database of the FCA. Therefore, it does not report its daily trading activities. They can easily manipulate the price. The terms and conditions of the firm can also change overnight. If they decide to withhold your money, there is nothing much you can do.

Investors do not receive compensation when unregulated firms face bankruptcy. Moreover, a negative account balance is not available. Therefore, upsalefx faces the risk of being shut down. Their victims will have no choice but to count their losses and move on. 

It would help if you stuck to legit investment firms. You will enjoy peace of mind and other benefits. Licensed firms have ideal trading conditions. The authority also monitors their activities. 

Is Upsalefx a Genuine Company?

Unfortunately, Upsalefx is an illegitimate venture. The scheme purports to be from an area with strict jurisdiction yet claims to have a license from an offshore body. Saint Vincent and the Grenadines financial body does not license forex companies; it stated to the public affirming the matter. 

Most scammers choose to operate from the area and do not adhere to the rules. This is also an anonymous firm. Where would you start if they decided to close down the website? It is impossible to find them, and not even the authorities can rescue you.

A great investment firm will have endorsement from clients. Upsalefx has several complaints from investors who have dealt with them. Moreover, this is a vivid sign you cannot trust the broker. People have lost money, and giving the scheme a chance will lead to the same results. 

Final Verdict 

We have exhausted Upsalefx red flags. They are in the market illegally. Additionally, nobody knows who they are or the qualifications they possess. 

Invest with reliable cryptocurrency firms to save yourself the trouble of dealing with con artists. Moreover, you will have peace of mind while you trade in a safe environment. 

No, the company does not have a license.

Unfortunately, the entity does not have enough funds to hire a professional team.

No, the broker is exposing traders to risk.

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