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UpperTrade
Dominica|2-5 years| https://uppertrade.pro
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No valid regulatory information, please be aware of the risk!
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1G
40G
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Tetris Group LTD
UpperTrade
Dominica
Pyramid scheme complaint
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- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The current information shows that this broker does not have a trading software. Please be aware!
WikiFX Verification
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1: 100 |
| Minimum Deposit | $ 25,000 |
| Minimum Spread | from 0.5 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1: 300 |
| Minimum Deposit | $ 2000 |
| Minimum Spread | from 1.5 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1: 300 |
| Minimum Deposit | $ 250 |
| Minimum Spread | from 2.0 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1: 200 |
| Minimum Deposit | $ 5000 |
| Minimum Spread | from 1.0 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
- Transaction Risk
- Underlying Risk
Capital
$(USD)
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UpperTrade · Company Summary
Note: UpperTrade's official website: https://uppertrade.pro is currently inaccessible normally.
| UpperTradeReview Summary | |
| Founded | 2021 |
| Registered Country/Region | Dominica |
| Regulation | Not regulated |
| Market Instruments | Forex currency pairs, shares, crypto, commodities, and indices |
| Demo Account | / |
| Leverage | Up to 1:300 |
| Spread | From 2.0 pips (Beginner account) |
| Trading Platform | Web-based trading platform, MT5 |
| Min Deposit | $250 |
| Customer Support | Email: 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 Cons
| Pros | Cons |
| Multiple trading assets | High minimum deposit |
| MT5 supported | Not regulated |
| Lack of transparency | |
| Wide spreads on the Beginner account |
Is 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 Type | Minimum Deposit |
| Beginner | $250 |
| Medium | $2000 |
| Advanced | $5000 |
| Professional | $25000 |
Leverage
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 Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| Web-based trading platform | ✔ | Web | Experienced traders |
| MT5 | ✔ | Desktop | Experienced traders |
| MT4 | ❌ | / | Beginners |
Deposit 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.
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