Uptos Review 2024

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Written By
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Written By
Tobias Robinson
Tobias is a partner at DayTrading.com, director of a UK limited company and active trader. He has over 25 years of experience in the financial industry and contributed via CySec to the regulatory response to digital options and CFD trading in Europe. Toby’s expertise and dedication to financial education make him a trusted voice in the industry, including a BBC investigation into digital options.
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Fact Checked By
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Fact Checked By
William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.
Updated

2.5 / 5
Uptos is #108 in our CFD broker rankings.

Uptos offers multiple trading assets, payment options and the MT5 platform.

$250
MT5
Forex, CFDs, indices, shares, commodities, cryptocurrencies
-
Skrill, Visa, PayPal

Forex Trading

Speculate on major, minor & exotic FX pairs.

Stock Trading

Trade on over 1,000 global shares.

CFD Trading

Trade CFDs with 1:400 leverage.

Crypto Trading

Buy and sell leading cryptocurrency coins.

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
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
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:

Drawbacks

We uncovered several downsides to Uptos in this review:

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:

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.

Top 3 Alternatives to Uptos

Compare Uptos with the top 3 similar brokers that accept traders from your location.

  1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.

    Forex trading involves risk. Losses can exceed deposits.
  2. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.

  3. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.

Uptos Comparison Table

Compare Uptos With Similar Brokers
Uptos IG Interactive Brokers World Forex
Rating 2.5 4.4 4.3 4
Markets Forex, CFDs, indices, shares, commodities, cryptocurrencies CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts
Demo Account No Yes Yes Yes
Minimum Deposit $250 $0 $0 $1
Minimum Trade 0.01 Lots 0.01 Lots $100 0.01 Lots
Regulators FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA SVGFSA
Bonus 100% Deposit Bonus
Education No Yes Yes No
Platforms MT5 Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral MT4, MT5
Leverage 1:400 1:30 (Retail), 1:250 (Pro) 1:50 1:1000
Payment Methods 3 6 6 10
Visit Visit Visit Visit
Review IG
Review
Interactive Brokers
Review
World Forex
Review

Compare Trading Instruments

Compare the markets and instruments offered by Uptos and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Uptos Trading Instruments
Uptos IG Interactive Brokers World Forex
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil No Yes No Yes
Gold Yes Yes Yes Yes
Copper No Yes No No
Silver Yes Yes No Yes
Corn No No No No
Crypto Yes Yes Yes Yes
Futures No Yes Yes No
Options No Yes Yes No
ETFs No Yes Yes No
Bonds No Yes Yes No
Warrants No Yes Yes No
Spreadbetting No Yes No No
Volatility Index No Yes No No

Uptos vs Other Brokers

Compare Uptos with any other broker by selecting the other broker below.

 

Customer Reviews

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Uptos offers multiple trading assets, payment options and the MT5 platform.

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.