UproFX was an unregulated Forex CFD broker, that started operations in January 2019. Their website is no longer working!
To try and get your money back, read this.
WARNING!!! UproFX is NOT Licensed by FCA or ASIC
See the Best Forex Brokers
UproFX Reviews
Our investigative review of the brokers at UproFX shows that they, like many other brokers are using the PandaTS trading platform. As you can see in the screenshot below, it is a very basic trading platform. If you are looking for a real trading platform like Metatrader 5, or a mobile trading app, you will have to look elsewhere.
They have a variety of underlying assets available for trading Contracts for Difference (CFD’s). You will find Currency Pairs, Crypto, Commodities, Stocks, Indices, and Forex. Trading margin on Forex pairs is as high as 100:1, and on stocks is 10:1.
Auto Trading Accounts
Many people investing at UproFX are using a trading robot they found via a “Fake News” article. Hundreds of companies make such trading robots, and most of them disappear very quickly.
You should first read about auto trading robots.
Here is what they wrote on their terms and conditions page:
All issues relates to third party services including without limitation robots, algo trading, signals and software provided by a third party (affiliate) shall be handled between you and such third party. The company doesn’t endorse any vendors or hold any liability with respect to their services or products used by you.
Is UproFX a Legit Broker?
The way that the Scam Broker Investigator determines if an online broker is legitimate or a scam, is by checking the government regulator for a license. All financial brokers operating in the United Kingdom must be licensed and authorised by the FCA.
UproFX is not a regulated broker. This broker listed an operations address of: 14 Terbatas Street, 4th & 5th floors, Riga LV1011 Latvia. However, if you decide to go visit them, you will see that it is a Regus temporary office space.
UproFX is owned by Yield Enterprise Currency Software OÜ, and located at: Harju maakond, Tallinn, Kesklinna linnaosa, Parda tn 4, 10151 Estonia. They list a contact number in United Kingdom of: +442080897635. Customer service email address was: [email protected]. The official brokers website is: https://UproFX.com/.
UproFX Withdrawals & Complaints
According to the brokers website, all requests for a withdrawal must be made in writing. So make sure you send an email request to all listed email addresses.
There is no automated withdrawal mechanism on their website, and all requests are manually processed. Officially, your account needs to be verified, and your source of funds needs to be verified also. This is the cause for many headaches, as it seems that the verification requests are never ending.
Compare Forex Brokers
Smart investors should first compare their choices of online Forex brokers, and check the latest list of popular brokers.
ForTrade are a good choice for new investors, because their trading platform is really easy to use, read more.
ForTrade is a popular and legitimate broker, that is regulated by the FCA and ASIC, look here.
If you are currently investing at UproFX , please share your experience with other people in the comments section.