Published on August 28th, 2020 | by Sara Kane0
Uptos Review: Is it really a safe investment?
Uptos is a trading site that deals in currencies, indices, and stocks. They have a trading platform that allows traders to invest in different stocks and trade for a profit. They claim to have the best trading platform with all the digital resources for a successful trading experience. They also claim to have the best investment options and you can build your own investment portfolio by selecting different trading options. The strange thing about this site is that they are offering a free account, which means that they will not charge you for trading on the platform. However, they will charge a brokerage fee for each transaction that you make, and you will have to use their chosen brokers. Unfortunately, they do not disclose information about their brokers, so there is no way of knowing who you are dealing with. The site also does not accept responsibility for funds lost to third parties. Another issue is that they offer a leverage of 1:400, which is not the best and way too risky is you are a beginner. This is not the only issue with this site, as you will see later.
Uptos is an offshore international trading company that offers services to over 80 countries. They are located in the St, Vincent, and Grenadines and have been in operation since 2006. They are not following the trading regulations and are not licensed under any governing body. This makes it riskier to deal with them. They have listed their address which is located at: Griffith Corporate Centre, St. Vincent & Grenadines. You can even call them via their phone number at: +18559253933. However, many customers claim that they don’t answer calls. Alternatively, you can contact them via email at: firstname.lastname@example.org. Other information is available on the site: https://uptos.com/. However, they do not provide details of their owners, previous trading history or even their regulatory history.
For a new investor, this site looks like a professional and legitimate platform. However, an experienced investor should look at the plans that Uptos is offering, rather than their sites design. They are offering a free trading account upon signup. You can fund your account via popular payment methods. They also claim to offer the Meta 5 Trading platform, although many users claim that it is only a simple web trader. The minimum investment in this site is $250 and you can start trading immediately. They make no mention of a demo account, which is not good for a beginner investor looking to test the platform. Another issue is that they provide very genera information when it comes to their exact trading options. They don’t eve provide an overview of the stocks or markets that they are trading in.
Uptos has made no specific mention of their trading strategy. However, they claim to have a system based on leverage trading and are offering a leverage of 1:400. For their commodities trading, they claim to offer between 0.4 pips to 6 pips, depending on the commodity. They also offer trading in many cryptocurrencies, but do not specify which tools they offer. While the do claim to use the Meta 5 trader, the actual users have confirmed that it is a simple web trader that does not have the 400+ tools that they claim to have. Judging from their strategy there is nothing to distinguish them from other trading platforms.
- Company: Uptos
- Product: Trading platform
- Minimum investment: $250
- Trading strategy: Leverage trading
- Trading Results: Not verified
- Customer Feedback: Negative
When it comes to actual verified trading results, then you will be disappointed to see that Uptos has not provided any legitimate trading results. For a company that has been trading for more than 10 years, they should have some positive trading results or at least post some success stories to show that their platform is actually the best. The reason why they do not post trading results is because the platform does not perform as well as they say it does, as many customers have pointed out.
Just as with the trading results, the customer feedback of the Uptos site is quite poor. Many customers have complained that it is almost impossible to withdraw their funds from this site. If you can’t withdraw your profits, then what’s the point of investing? Another issue customers are facing is that the trader software is not what they advertise. They give a web trader with limited tools instead of the Meta 5 trader that they claim to offer.
Although Uptos has been in business for some time, they are still unregulated. This should be a concern for investors. They also have no distinguished trading strategy or even live trading results to prove the functionality of their software. The poor customer feedback also supports the notion that this is a shady platform that cannot be trusted.
If you have had any experience with this company, we would love to hear from you. So, share with us in the comments section below.
- They claim to have the best trading solution
- They have a professional appearance
- They do not disclose much information about their strategy or operative mechanism
- They seem to have quite negative customer reviews
- They offer a risky leverage value
- The company does not provide verified trading results
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