Uptos DetailsMetaTrader 5 PlatformMarketsUptos FeesLeverageMobile AppDeposits & WithdrawalsDemo AccountUptos BonusesRegulation ReviewAdditional FeaturesUptos AccountsBenefitsDrawbacksTrading HoursCustomer SupportSecurityUptos VerdictAccepted CountriesAlternatives to UptosFAQ
Uptos is an online broker offering multi-asset trading with fast payments and reliable customer support. This review goes into the detail of the broker’s offering, from the MT5 platform to leverage and regulation. Keep reading to find out if Uptos is safe or a scam.
Uptos Details
Operating since 2019, Uptos Ltd is registered in Saint Vincent and the Grenadines. The broker is currently unregulated but offers financial services in over 80 countries.
Uptos offers over 250 products across currencies, commodities, indices, and shares on the award-winning MetaTrader 5 platform. The broker also offers flexible funding options and top liquidity, with 6 accounts to choose from.
MetaTrader 5 Platform
MT5 is the only trading platform offered at Uptos, but it’s a favourite among experienced traders. The platform boasts advanced automated trading functions, customisable charts, and a vast selection of indicators and drawing tools. Traders can also access rich trading history as well as an economic feed.
The platform is available as a desktop application or as a browser-based web terminal, ensuring it can be accessed easily from both Windows and Mac PCs.
MT5 platform
Markets
Uptos offers a varied product list. Over 90 currency pairs are available, along with spot commodities and energies, including gold, silver and oil. Clients can also speculate on popular cryptocurrency coins, such as Bitcoin, Ethereum and Ripple, as well as buying and selling over 1,000 shares.
Uptos Fees
This review was disappointed with the lack of transparency around trading conditions and fees. Floating spreads are available, with gold around 0.4 pips, silver 3 pips and crude oil starting from 6 pips. Unfortunately, average spreads across forex, cryptocurrencies and shares are not provided. This is disappointing as it makes it difficult to gauge trading costs before opening an account.
Leverage
Uptos offers leveraged trading rates up to 1:400. But while an excellent tool for increasing positions and returns, it does also boost potential losses. This is why the CySEC, for example, limits the leverage brokers can offer retail clients to 1:30.
Mobile App
The MT5 mobile app is available for smartphone users on iOS and Android operating systems. The app is ideal for on-the-go trading and offers all the necessary functionality, including a host of tools for technical and fundamental analysis, access to full trading history, plus a live economic feed. Mobile traders are also able to manage their accounts and finances from the app.
MT5 mobile app
Deposits & Withdrawals
Payments can be made via Skrill, Visa, Mastercard, PayPal and wire transfer. The minimum accepted deposit is $250, which is higher than the minimum requirement at many online brokers.
It’s free to fund your Uptos account and withdraw profits. Payment timelines vary depending on the method, but deposits are processed instantly while withdrawals take 3 to 5 days.
Demo Account
This review was disappointed to see Uptos does not offer a demo account. This means prospective clients have no way of testing the broker’s services, tools and customer support. It also means beginners cannot refine their strategy before switching to real-money trading.
Uptos Bonuses
Uptos does not currently offer any welcome bonuses or ongoing promotional deals. This is not uncommon as regulators are clamping down on bonus deals with onerous terms and conditions. With that said, keep an eye on the broker’s website and social media pages for news of upcoming promos.
Regulation Review
Uptos Ltd is registered in Saint Vincent and the Grenadines. Traders should be warned that offshore locations like this do not provide any regulatory oversight or supervision, meaning that traders are unlikely to be protected if they run into withdrawal problems.
Unfortunately the absence of a reputable license coupled with the restrictive website does raise trust concerns.
Additional Features
Unlike most brokers, Uptos does not provide any additional resources. Extra trading tools and educational resources are hugely important for traders of all levels and help to differentiate brokers, so the absence of any such features is disappointing.
Uptos Accounts
Uptos offers 6 account types: Student, Starter, Premium, Advanced, Pro, and VIP. The main differences are the minimum deposit levels and the addition of an account manager and daily analysis with the higher levels.
The minimum deposit starts at $250 with the Student account, which climbs to $2,500 with the Starter Account, $10,000 with the Premium account, and reaches $100,000 with the VIP account. The MT5 platform and mobile app are available across all accounts, while the minimum position size with all options is 0.01.
Benefits
Benefits of trading with Uptos include:
Responsive live chat support
Cryptocurrency trading
MT5 desktop & mobile
Drawbacks
We uncovered several downsides to Uptos in this review:
Lack of transparency around spreads and fees
No additional features or education
No demo account
Unregulated
Trading Hours
24/5 trading is available at Uptos. Trading times follow respective market operating hours, so Sunday evening through to Friday for forex. See individual contract specifications for product trading times.
Customer Support
Uptos does have a responsive live chat team, which is great for getting prompt support. On the downside, customer service representatives weren’t particularly knowledgable about the broker’s trading services.
Alternative customer support forums include:
Telephone – +18559253933
Email address – support@uptos.com
Online enquiry form – Contact Us page
Security
The MetaTrader 5 platform follows industry-standard encryption processes that protect client data in and out of the server. This includes using dual-factor authentication at the login stage. There is, however, limited information about the security protocols followed on the broker’s website.
Uptos Verdict
This review uncovered several red flags which could indicate that Uptos is a scam, including a lack of transparency around trading fees and the absence of a regulatory license. This combined with no demo account means traders may want to consider alternatives.
Accepted Countries
Uptos accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use Uptos from United States, Iran, Korea.
Alternatives to Uptos
If you are looking for alternatives to Uptos we have compiled a list of the top 5 brokers that are similar to Uptos below. This list of brokers like Uptos is in order of similarity and only includes companies that accept traders from your location.
LegacyFX – LegacyFX is a multi-asset broker offering an MT5 download & free signals.
TP Global FX – TP Global FX offers a long list of popular financial assets with spreads from 0.1 pips. With a focus on innovation and transparency, they are a growing brand.
FP Markets – FP Markets is a multi-asset broker offering a choice of trading platforms.
RoboForex – RoboForex is a multi-asset online broker offering powerful trading aides.
FBS – FBS is a top online broker offering MT4 & MT5 trading across a range of instruments.
FAQ
Does Uptos offer a demo account?
No, Uptos does not offer any demo accounts, only real-money trading is available.
What markets does Uptos offer?
Uptos offers forex pairs, cryptocurrency pairs, commodities, stocks, and indices. The 250 trading products are available across all live accounts.
Where is Uptos based?
Uptos is an offshore broker registered at the Griffith Corporate Centre, St. Vincent & Grenadines.
What leverage is offered at Uptos?
The maximum leverage offered is 1:400 across all accounts. These are high leverage rates and may aide traders with a limited bankroll.
Is Uptos a scam?
With the lack of regulation, absence of key information on the website, and a number of customer concerns on online forums, Uptos could well be operating a scam. Traders should exercise caution before registering for an account.