Uptos (Uptos.com) is a scam broker offering harsh trading conditions to newbies. The broker promises flexible leverage up to 1:400 which is considered harsh to beginners. Uptos claims to offer a wide list of world indices and shares on their platform. They promise to help traders build their investment portfolios thanks to flexible funding options. Scam brokers will do or say anything to get their services accepted in the market. Read this detailed and honest UPTOS Review for more information.
The broker gives no information regarding their background and history. With no trading history, members are led to believe the broker has a perfect track record. And this is where traders go wring as they should ensure they know whether a broker is reputable. Online investment options should have a solid reputation to gain trust. Without a solid online presence, it is best to keep away from the platform.
Uptos is mum on how the broker started offering online trading services. There is a lot of missing information from the website making us question their intent. These scam brokers are offering unregulated services to unsuspecting investors. They have created a compelling website with hidden traps. Thanks to our keen eye, we can spot the traps set by scam brokers. Ensure you go through the review to find out more. Staying safe is of utmost importance, and it is why a recommended broker is needed.
According to their homepage, the broker offers currencies, digital assets, Indices, and Stocks. They claim to offer over 100 currency pairs of major and minor currencies. The leverage set for Forex trading is 400:1 which is harsh to newbies. A favorable leverage for newbies is 1:100 and 1:200. Digital assets listed on their trading platform include Bitcoin, Litecoin, and Ripple. Not much information has been given on the trading conditions set for Cryptocurrency trading.
They are claiming to offer over 30 global equity indices. They fail to mention which indices are available on their homepage. One has to sign up first before getting all the relevant details from the platform. When it comes to stocks, the broker claims to have UK and US company shares. They also fail to give members information on the company shares names available on the platform. Ensure you know the trading conditions available before committing to a platform.
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Uptos Ltd is the name of the company listed as the sole owner of the platform. Where the company is located remains a mystery as there is zero information on the broker. And this is why investors should be careful not to sign up with offshore brokers. It is an anonymous website with no clear address. Scam brokers will post false location details to try and entice investors from these regions. And this is why everyone should be extra careful when trading with such a platform.
According to the domain register Whois API, their website was created a long time ago. Details are emerging the broker has a registered address in St. Vincent and the Grenadines. And this makes it an offshore broker. These are ruthless brokers who will do or say anything to get their hands on your funds. Records show Uptos.com was created on 23rd October 2006. How the broker has managed to go for long without being detected beats us. They have been in operation for over 14 years.
The broker claims to be located in St. Vincent and the Grenadines. These are offshore brokers who rarely get the nod to operate brokerage services. They are in fact far from being regulated in any jurisdiction. Uptos IS NOT LICENSED OR REGISTERED to offer any trading services. Why would they be up and running for over 13 years and fail to have a valid trading license? These are the reasons why everyone should stay away from the platform. A broker who takes long without applying for a valid license is hiding something.
They are not revealing any information regarding compliance on their homepage. They have posted a terms and conditions page which lacks information regarding registration. And this is proof we are dealing with a rogue online trading platform. Stay away from this ridiculous trading platform or else risk losing your entire funds. They are disregarding every rule in the book by not getting a trading license. Funds deposited to this broker are far from being insured. And this is the reason why no one is able to recover funds.
The broker is furnishing members with three account plans. Uptos is using Student, Starter, and Premium account plans on their platform. Starter and Premium account share the same features. The only difference is that the premium account holder gets an account manager. Why would an investor deposit $10,000 and get the same result features as one who deposits $2,500? These accounts have been rigged to offer no trading advantage. Investors who sign up end up losing funds with the broker.
Uptos is offering an account manager to Premium account holders. The problem with account managers in question is lack of professionalism. These are not account managers but paid call agents. Their work is to call users and ask them to give up control of their trading. They have hired account managers who have no idea on what managing accounts is all about. They will lose your money first and call you to ask for more deposits.
The broker has a chat bot by the name Andie Williams and Naomi Marks. These are not actual live chat agents but chat bots designed to answer basic questions. They will ask for your contact information before taking your queries to management. Traders will start receiving calls from senior management on how to start opening an account. The phone number listed does not work as the broker prefers to make the calls.
They are using a number of depository channels on their platform. They include American Express, MasterCard, Visa, among others. The problem with this broker is failing to give users credible information on withdrawal procedure. Depositing takes less than five minutes as the broker will give users bank account number. Members are to deposit funds via the sent bank account number. Withdrawing funds remains to be the biggest hurdle facing investors at this time.
Did you know scam brokers will post images of MT4 or MT5 on their platform? It is what the broker is doing to try and sell their platform. Once you sign up, members get a rude shock and realize the broker is using a web terminal. The web terminal lacks proper security software making it highly unstable. Members have been facing slow execution speeds due to the platform’s unstable nature. Compatibility is an issue as it is not compatible with most trading devices.
With the number of complaints jumping up each month, it is clear funds are not safe. Uptos is not able to guarantee safety of funds. They are pooling funds in one account which is against set industry regulations. And this is why members are having a hard time trying to recover funds.
All the facts point to one outcome, Uptos is another online scam. Stay away from the platform by ignoring any calls from their call agents. Mark their emails as spam and don’t sign up with their affiliate programs. Warn your loved ones on the dangers of signing up with this abysmal broker. It is best to stay clear of this ridiculous trading platform.
By adding the broker to our scam blacklist, we will be protecting our readers. They now know the risks involved when dealing with the broker.
Stay safe and use expert brokers when trading online. Continue reading our reviews for more on online trading products and services.
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