UpperTrade Forex Broker

Note: UpperTrade's official website: https://uppertrade.pro is currently inaccessible normally.UpperTradeReview SummaryFounded2021Registered Country/RegionDominicaRegulationNot regulatedMarket InstrumentsForex currency pairs, shares, crypto, commodities, and indicesDemo Account/LeverageUp to 1:300SpreadFrom 2.0 pips (Beginner account)Trading PlatformWeb-based trading platform, MT5Min Deposit$250Customer SupportEmail: support@uppertrade.pro UpperTrade offers multiple trading assets, including forex currency pairs, shares, crypto, commodities, and indices with leverage up to 1:200 and spread from 0.5 pips via MT5 and a web-based trading platform. However, the minimum deposit is as high as $250. Also, it is unregulated currently.Pros and ConsPros Cons Multiple trading assetsHigh minimum depositMT5 supportedNot regulatedLack of transparencyWide spreads on the Beginner accountIs UpperTrade Legit? UpperTrade is not regulated by any financial authorities. The Polish Financial Supervision Authority (KNF) shows no information about it. It means that it doesn't need to obey the rules of regulations. Traders should be cautious when choosing brokers.What Can I Trade on UpperTrade?Tradable Instruments Supported Forex currency pairs✔Shares✔Cryptos✔Commodities✔Indices✔Options❌ETFs❌Account Type UpperTrade provides four account types: Beginner, Medium, Advanced and Professional.Account TypeMinimum DepositBeginner$250Medium$2000Advanced$5000Professional$25000Leverage UpperTrade's leverage varies by the accounts. The Medium and Beginner account is up to 1:300. Besides, the Advanced account is up to 1:200, and the Professional account is 1:100. Higher leverage always comes with high returnes and high losses.Spreads and Commissions The spread of UpperTrade also varies depending on the accounts. The Beginner account starts from 2.0 pips, the Medium account starts from 1.5 pips, the Advanced account starts from 1.0 pips and the Professional account starts from 0.5 pips. However, the commission is not mentioned.Trading PlatformTrading PlatformSupported Available Devices Suitable for Web-based trading platform✔WebExperienced tradersMT5✔DesktopExperienced tradersMT4❌/BeginnersDeposit and Withdrawal UpperTrade can deposit and withdraw through credit cards and various crypto assets. And the minimum deposit is $250. There are no deposit and withdrawal fees.