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UPFX Forex Broker provides real users with 1 positive reviews, * neutral reviews and 6 exposure review!

UPFX Broker Review

3.32

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UPFX Review 7

Latest All(7) Positive(1) Exposure(6)
Positive

UPFX impresses me with their Demo Account and Trading Platforms! Their Demo Account is a great way to practice trading without risking real money, and their trading platforms are user-friendly and packed with features. UPFX is definitely a solid choice for traders of all levels

Varry
2024-07-22
Exposure
I have withdrew money from April 17th! But today I only got 72 US dollars!! If this is not a scam, what is it?

Please ask the police or relevant personnel to conduct an in-depth investigation! Investigate this Ultimate Pinnacle! It is a scam! How long has it been? Can you open a company but not withdraw this small amount of money? ?

FX3445993934
2024-06-12
Exposure
issue with withdrawal from UPFX

I hope this email finds you well. I am writing to report an issue I am experiencing with UPFX, and I kindly request your assistance in resolving this matter. I have been a client of UPFX for 1 year 2 months, and I am currently facing difficulties with withdrawing my funds from my account. Despite multiple attempts to initiate withdrawals, I have not been successful in accessing my funds. Here are the details of my account with UPFX: * Name on Account: Celine Ting * Account Number: 500642 * Date of Account Opening: 21.02.2023 * Amount of Funds Unable to Withdraw: $8063.78 I have diligently followed all withdrawal procedures outlined by UPFX, including submitting necessary documentation and complying with any verification requirements. However, despite my efforts, I have not received any satisfactory resolution from UPFX's customer support team. Attached to this email, please find copies of relevant correspondence with UPFX, including withdrawal requests and any responses received. I believe this issue warrants investigation, as it may indicate potential misconduct or irregularities on the part of UPFX. I appreciate your attention to this urgent issue and look forward to your prompt response. Please do not hesitate to contact me if you require any further information or clarification.

FX3562293827
2024-04-11
Exposure
The number system hasn't been updated for weeks. Can't withdraw money.

There is a balance in mt5 but the balance in the system does not appear. Can't withdraw money. I contacted the management but they were silent. Whoever wants to deposit money with this broker, think carefully. You may not be able to withdraw money again. Including my friends who trade, there are about 10 people who have the same problem. (As far as I know)

Hack2850
2024-02-07
Exposure
Junk fraud platform

I told you that I was looking for a professional trader, but sl/tp will not set during trade. I knew that the position would be liquidated but it would not be a loss, so I put 445usd in the liquidation for him. There was no profit at all for more than two months. I'm running out of money! Don't come out and do hosting if you don't have the skills. It's really bad. It's so bad. They also promote how good their platform is on various social software. Post all kinds of good-looking records to deceive people.

FX4263769062
2022-08-24
Exposure
Fraud broker!

UPFX tries to mislead investors into thinking it is a legitimate brokerage. Viewing its homepage, the broker claims to be a limited liability company established in Belize as an operating subsidiary within the Lepanto Group of companies (collectively "Ultimate Pinnacle") under registration number 173474 and having its registered address in Belize City, but we can't find any results in the registers of Belize's International Financial Services Commission (IFSC). Here lies a reality -- UPFX isn't regulated by Belize IFSC and therefore, none of this is true.

Gustavo@Fring
2021-12-30
Exposure
broker penipu

scammmmmmmmmmmmpenipu lieeeeer broker my account not exist no reason be aware cannt log in any reason bad broker ,bad cs service, my email no reply until now

Albert1981
2021-12-01

  

UpFX 2025 Review: Everything You Need to Know

  UpFX has garnered mixed reviews from various sources, with a notable emphasis on its lack of regulation and customer support issues. While the broker offers a range of trading instruments and competitive leverage options, user experiences highlight significant concerns regarding withdrawal processes and overall reliability.

  Notice: It is essential to note that different entities operate under the UpFX name, which can lead to varying levels of service and regulatory oversight across regions. Therefore, traders should exercise caution and conduct thorough research before investing.

  

Ratings Overview

Category Rating (out of 10)
Account Conditions 4.0
Tools and Resources 3.5
Customer Service & Support 2.5
Trading Setup (Experience) 3.0
Trustworthiness 2.0
User Experience 3.0
Regulatory Compliance 2.0

  We rate brokers based on user feedback, expert analysis, and regulatory status.

  

Broker Overview

  Founded in 2017, UpFX operates under the parent company BM FN Limited and claims to provide a variety of trading options, including CFDs on forex, commodities, indices, and cryptocurrencies. The broker primarily uses the MetaTrader 4 (MT4) platform, which is popular among traders for its user-friendly interface and advanced charting tools. However, the lack of a robust regulatory framework raises concerns about the safety of traders' funds.

  

Detailed Breakdown

  •   Regulatory Regions: UpFX is primarily registered in Vanuatu under the Vanuatu Financial Services Commission (VFSC). However, many sources indicate that it operates without adequate regulatory oversight, which is a significant red flag for potential traders.

  •   Deposit/Withdrawal Currencies: The broker supports deposits and withdrawals in USD and EUR, with various payment methods including bank cards, e-wallets like Neteller and Skrill, and bank transfers. However, user reviews frequently mention issues with withdrawal delays.

  •   Minimum Deposit: The minimum deposit required to open a basic account is $50, which is relatively low compared to many competitors. However, higher tiers require significantly larger deposits—$5,000 for the optimal account and $10,000 for the professional account.

  •   Bonuses/Promotions: There are no current promotions or bonuses offered by UpFX, which may deter some traders looking for incentives to join.

  •   Tradeable Asset Classes: UpFX offers access to over 150 financial instruments, including forex pairs, cryptocurrencies, stocks, commodities, and indices. This wide variety allows traders to diversify their portfolios effectively.

  •   Costs (Spreads, Fees, Commissions): The cost structure includes spreads starting at $4.5 across all account types, which is considered high compared to industry standards. Additionally, withdrawal fees may apply, depending on the payment method.

  •   Leverage: UpFX offers leverage up to 1:400, which is attractive for traders looking to amplify their trading positions. However, such high leverage can also increase the risk of significant losses.

  •   Allowed Trading Platforms: Trading is exclusively conducted through the MT4 platform, with no support for other platforms like MT5 or proprietary solutions. This limitation may not appeal to all traders.

  •   Restricted Regions: UpFX operates in various regions but does not accept clients from certain countries, including the United States. Potential clients should verify whether their country is supported before signing up.

  •   Available Customer Support Languages: Customer support is primarily available in English, with options to contact via email or through a callback service. However, the lack of live chat support is a notable disadvantage, especially given the reported delays in response times.

      

  

Ratings Reiteration

Category Rating (out of 10)
Account Conditions 4.0
Tools and Resources 3.5
Customer Service & Support 2.5
Trading Setup (Experience) 3.0
Trustworthiness 2.0
User Experience 3.0
Regulatory Compliance 2.0

  

Detailed Evaluation

  •   Account Conditions: With a low minimum deposit and multiple account types, UpFX appears accessible to new traders. However, the higher minimum deposits for optimal and professional accounts may limit options for less experienced traders.

  •   Tools and Resources: The educational resources provided are basic and primarily target novice traders. The absence of advanced materials may leave experienced traders wanting more.

  •   Customer Service & Support: User reviews consistently criticize the customer support for being unresponsive and lacking live chat options. This has led to frustration among traders, particularly concerning withdrawal issues.

  •   Trading Setup (Experience): While the MT4 platform is a solid choice for many traders, the lack of alternative platforms may deter those who prefer more advanced options like MT5.

  •   Trustworthiness: The lack of adequate regulation and numerous user complaints regarding withdrawals contribute to a low trust rating. Many users have reported difficulties in withdrawing their funds, raising concerns about the broker's reliability.

  •   User Experience: Overall user experience is marred by the aforementioned issues with customer service and withdrawal processes. Although some users report satisfactory trading conditions, the negative experiences overshadow these positives.

  •   Regulatory Compliance: UpFX's regulatory status is a significant concern, with many sources indicating that it operates without sufficient oversight. This lack of regulation can expose traders to higher risks.

  In conclusion, while UpFX offers a variety of trading instruments and competitive leverage, the significant concerns regarding its regulatory status, customer support, and withdrawal processes warrant caution. Potential traders should thoroughly assess their options and consider more reputable brokers before committing funds.