Uptos Review 2020
Uptos is an online trading broker that offers over 10,000 financial instruments across different asset classes, including forex, metals, futures, shares, indices, and CFDs, for trading online via the intuitive and highly powerful MetaTrader 5 trading platform. The broker operates the ECN execution model. They also offer multiple account options along with flexible leverage of up to 1:400 to their clients. However, they are unregulated which limits investor protection.
Uptos Review 2020, Pros & Cons
- Advanced MetaTrader 5 trading platforms
- Multiple account types
- Thousands of financial trading instruments
- Unregulated broker
- No USA clients
- No standalone trading tools
- Limited educational resources
- Limited account funding options
- Minimum $250 deposit
In this detailed Uptos review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Uptos is not ranked in our best forex brokers, best stockbrokers, best CFD brokers, best crypto brokers, or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Uptos.
Uptos Review: Summary
Founded in 2019 and based in Saint Vincent and the Grenadines, Uptos is an ECN trading broker that provides its clients with the popular and sophisticated MetaTrader 5 trading platform for trading over 10,000 financial instruments across different asset classes, including forex, metals, futures, shares, indices, and CFDs. The broker gives traders access to a range of trading features, such as fast withdrawals without extra fees, secured payment options, and flexible leverage of up to 1:400. There are also multiple account options to suit each trader’s needs. The least deposit required to operate a trading account with the broker is $250.
Uptos Review: Regulation
Uptos Limited is registered and operates as a financial investment company under the laws of St. Vincent and the Grenadines. The registered address of the Company is located at Suite 305, Griffith Corporate Centre, Saint Vincent and the Grenadines, with operating number 25826BC2020.
However, there is no regulatory information on the broker’s website. Most experts would not want to trade with an unregulated broker as they do not offer the same level of protection that a regulated broker can.
Uptos Review: Countries
Uptos Limited allows traders from different parts of the world to open an account with them if their countries of residence permit online trading with international brokers. However, the broker states specifically that it does not offer services to users from certain jurisdictions, such as the United States of America, the Islamic Republic of Iran, and North Korea.
Some Uptos features and products mentioned within this Uptos review may not be available to traders from specific countries due to legal restrictions.
If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
Uptos Review: Trading Platforms
The broker provides traders with the popular and sophisticated MetaTrader 5 trading platform. It was developed in 2010 by the Russian software company, MetaQuotes, and it is widely used by traders around the world for its intuitive and user friendly interface. The platform offers advanced trading functions, as well as superior tools for technical and fundamental analysis. It supports automated trading using trading robots and copying signals.
MT5 is available as a desktop application for Windows and Mac computers and a WebTrader that runs directly on most modern web browsers and operating systems, such as Google Chrome, Safari, Firefox, and Edge, thereby eliminating the need to download or install any additional software, as well as a mobile app that is compatible with Android and iOS devices. The mobile trading app can be downloaded from the relevant app stores — Apple Store and Google Play Store. The Mobile trading platform is useful for traders who wish to get access to their trading accounts and place trades on the go from anywhere in the world, provided there is an internet connection.
Uptos Review: Trading Tools
The broker does not provide their clients with any standalone trading tools, but then, the MetaTrader 5 trading platform usually has enough useful trading tools built into it to satisfy the needs of even the most demanding traders.
Uptos Review: Education
The broker’s website contains a limited selection of educational resources that can improve traders’ trading skills and knowledge. The broker provides clients with a few free training tools and market analysis, and there is also a frequently asked questions section on the broker’s website that gives instant answers to the most common questions that clients may have.
Uptos Review: Trading Instruments
The broker provides traders with access to online trading of over 10,000 financial instruments across different asset classes, including forex, metals, futures, shares, indices, and CFDs.
Uptos Review: Trading Accounts & Fees
The broker offers traders a wide choice of different trading account types to satisfy the trading needs of traders of all experience levels. Each account type is offered to be operated with different currencies that you can choose from. However, if your local currency or preferred currency is not available, you may still opt from the available currencies, and your deposits and withdrawals will be converted automatically. You should note and accept that conversion rates are beyond the broker’s control as they are systematically computed.
These are the brokers various trading accounts:
This account type requires a minimum deposit of $250 to commence trading. It offers 24-hour mobile trading with a minimum lot size of 0.01 lots on the MetaTrader 5 trading platform.
The initial balance required to operate the starter account is $2,500. It offers 24-hour mobile trading with a minimum lot size of 0.01 lots on the MetaTrader 5 trading platform. It also allows traders to use the swap-free Islamic accounts.
With an initial deposit of $10,000, the Premium Account offers 24-hour mobile trading with a minimum lot size of 0.01 lots on the MetaTrader 5 trading platform. Clients get access to use Islamic Account along with an account manager to assist them.
The required minimum deposit is $25,000. There are daily analysis and an account manager available to traders with this account type. The Advanced Account offers 24-hour mobile trading with a minimum lot size of 0.01 lots on the MetaTrader 5 trading platform.
Clients who operate the Pro Account get access to a wide range of trading features, including fixed pricing, daily analysis, an account manager, and the ability to operate an Islamic account. The Pro Account has a required minimum deposit of $50,000 whilst offering 24-hour mobile trading with a minimum lot size of 0.01 lots on the MetaTrader 5 trading platform.
With an initial minimum deposit of $100,000, the VIP Account is specifically designed for the more advanced and sophisticated traders who are willing to invest and trade with higher amounts. It offers unique and exclusive trading conditions. You can contact your account manager for information about using this account type.
The broker also offers Islamic Accounts as the only type of swap-free account types available. These accounts for clients who observe Islamic religious beliefs and Sharia law on interest-paying investments. Islamic Accounts may only be granted if you comply and complete the verification and documents required subject to the broker’s approval.
If you intend to convert your trading account into an Islamic Account, you must comply with the necessary procedures, wherein you shall provide documents verifying that you are a Muslim. Islamic Account requests will be assessed accordingly, and if the conversion request is approved, the broker will remove the swaps or rollover fees in your trading account.
As broker fees can vary and change, there may be additional fees that are not listed in this Uptos review. It is imperative to ensure that you check and understand all of the latest information before you open an Uptos broker account for online trading.
Uptos Review: Customer Service
The broker provides clients with a dedicated customer service team that is available 24/5 to give knowledgeable answers to clients’ general, technical, or account-based inquiries. The customer service team can be reached via telephone, email, and online Live Chat. The broker is also available on relevant social media handles, such as Facebook, Instagram, and Twitter.
Uptos Review: Deposit & Withdrawal
Uptos have a limited choice of available account funding and withdrawal options. They include:
- Credit/Debit Cards — such as Visa, MasterCard, and Maestro
- Standard Payment Processors — including American Express, Discover, and more
The accounts are denominated in USD, EUR, GBP, and AUD. Some payment methods may not be available to some specific countries. The transaction fees, limits, and processing time may vary, depending on the payment provider or method.
Uptos Review: Account Opening
Opening a live trading account with the broker is straightforward and easy and involves three simple steps:
First, click on the ‘sign up’ icon on the broker’s website and fill the form accordingly whilst supplying the required relevant information. The account opening form is displayed thus:
Next, verify your identity by uploading your proof of identity and proof of address documents or by registering with Bank ID.
Finally, once your trading account has been created and approved, you can fund the account and start trading online the various assets offered by the broker.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
Uptos Review: Conclusion
Uptos is an online trading broker that operates from Saint Vincent and the Grenadines. The broker was founded in 2019 and operates the ECN order execution model. They provide their clients with the popular and sophisticated MetaTrader 5 trading platform for trading over 10,000 financial instruments across different asset classes. The broker offers traders a range of trading conditions, such as fast withdrawals without extra fees, secured payment options, and flexible leverage of up to 1:400. They also offer multiple account options to suit each trader’s needs. However, the broker is not regulated and is located offshore.
Derivatives are complex instruments and come with a high risk to your capital due to leverage. You should thoroughly consider whether your knowledge and relevant experience are suitable for trading derivatives and whether you can afford to take all the risks involved.