• Mon. Feb 17th, 2025

Uptos Review (uptos.com) FRAUD EXPOSED – Uptos Scam Broker

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Byfraudulentbrokers.com

Oct 9, 2023
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Uptos (uptos.com)
Conclusion
It is quite clear that Uptos is indeed a fraudulent broker because it lies about its regulation, does not have a decent platform, has a malicious bonus policy and offers excessive leverage.
Broker Rating
0.1

Uptos (uptos.com) is without a doubt a %100 fraudulent brokerage firm. It is NOT a real broker! Stay away! Uptos scam works by getting you to believe you can become rich by trading with them.

Uptos Review

Have you heard of scam brokers? Online trading scams have become quite widespread in the last few years, as the financial markets have seen a lot of heavy traffic. Criminals are looking for victims to exploit and this means more targets for them.


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Subsequently, the number of shady and scam companies offering their trading services has risen exponentially. This makes it essential for anyone thinking about trading online to know how to distinguish fraudulent brokers from genuine ones and the Uptos review below can be useful in this scenario.

Many people are under the misconception that the differences between legitimate and scam brokers will be apparent, so they will be able to avoid them. But, this is far from the truth. Telling them apart has become a lot more complex over the years because the scammers have improved their tactics and use new techniques to conceal their identity. Therefore, you have to be diligent in order to learn the truth because no broker will warn you on its own. The most important rule to remember is that nothing can be taken for granted.

Uptos website

It does not matter how impressive a broker’s website looks, or the numerous promises it makes, you cannot believe anything until you have verified it. As long as you are diligent, you will have no trouble in understanding why a brokerage may be fraudulent. You can try this out in the case of Uptosthat has advertised itself as the best investment choice for traders looking to make money from the financial markets. It claims to be a regulated broker with an innovative platform as well as generous bonuses and lucrative leverage.

If you didn’t know any better, you would assume that Uptos is the perfect fit. But, when something sounds too good to be true, you should do your due diligence. Doing so where Uptos is concerned tells you the truth. Let’s take a look at it.

False licensing claims

The biggest difference between a genuine and a fraud brokerage is that of their licensing. The former will have a license, while the latter will be unregulated. It is as simple as that, so you should first focus on the licensing and regulation of an online broker to know whether it can be trusted or not. Since people have become diligent, many scammers have taken to make false claims about licensing in order to fool people and this is what Uptos is also doing.

It claims to be regulated by multiple regulatory bodies, namely the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) and the Australian Securities and Investment Commission (ASIC). These are actually the three top leading regulators in the world, but Uptos cannot possibly be licensed by them. This is because it is going against the regulatory framework of these bodies.

Moreover, when you diligently try to verify these claims and check the online registers of these regulatory bodies, you will not find Uptos in their list. This is more proof that Uptos is outright lying about its regulation and this is only to fool people into trusting it.

Malicious bonus policy

One of the top offerings that you will find in the Uptos presentation is that of generous bonuses. Many people will be drawn to the platform because of the offer of these bonuses, but you have to remember that these bonuses are no longer considered an acceptable practice in trading. As a matter of fact, these have been banned in many countries because the policies associated with them are malicious.

CySEC, ASIC and FCA are three regulatory bodies that have also banned bonuses, which means that Uptos should not offer them since it claims to be regulated by all three. Yet, it is breaking the rules and offering the bonuses and its policy is also downright malicious. It blatantly states that traders who receive a bonus cannot make withdrawals from their account until they meet a certain turnover requirement.

You should take note that legitimate brokers do not hold your funds hostage with any such policies and the fact that Uptos is doing so shows that it is not up to any good. In addition, the turnover requirement that it wants you to fulfill is not possible to achieve, which means it is just using it as an excuse to block withdrawal requests.

Poor trading software

The trading software is a must because it allows you to trade in the markets in real-time and you cannot execute any trades without it. Also, it is integrated with trading tools that are used for conducting analysis and making decisions. You are promised an innovative trading platform at Uptos, but this is certainly not what you will find.

The trading software that Uptos has is a web-based one, which is so rudimentary that it does not have most of the basic tools. Even beginner traders are going to find the software lacking, not to mention that it is extremely complex to use. No decent broker would ever offer its clients such poor trading software that makes trading difficult.

Legitimate ones will offer a professional trading software like the MT5 that comes with powerful technology and sophisticated trading tools, but the one at Uptos is not even remotely close to it.

Excessive leverage ratios

The leverage ratios offered to you are worth checking out because they determine the flexibility you can enjoy during trading. This is another area where Uptos is going to disappoint and give you more proof about its fraudulent nature. The leverage levels begin at 1:100 and go as high as 1:500 that may sound very attractive to traders.

However, you should note that ASIC, CySEC and FCA have capped leverage levels at 1:30 in their respective jurisdictions, so technically, Uptos should not be supporting the levels it does. These ratios are very risky and can lead to huge losses.

The Verdict

It is quite clear that Uptos is indeed a fraudulent broker because it lies about its regulation, does not have a decent platform, has a malicious bonus policy and offers excessive leverage.

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