Thinking of getting into business with Finance Up? Here is what you must know about this broker. Carefully read this review to find out if financeup.com is the trading platform you will want to trade with.
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About Finance Up Broker
Finance Up is an offshore brokerage company with a lot of promises for traders. The broker’s address shows it is from UK.
There are different account types Finance Up offers.
Also, the broker claims to offer extreme transparency policy, manageable client funds and negative balance protection.
In spite the trading instruments Finance Up claims to offer, traders must know they are dealing with an unknown broker which does not have the regulation of Financial Conduct Authority, UK over its activities.
financeup.com: Reasons to Avoid This Broker
Firstly, financeup.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit because financial authority, FCA, UK does not recognize this forex broker.
Secondly, we noticed financeup.com has a free account for traders. We advise you don’t waste your time on that, so you don’t get lured into trading real fund with this unregulated broker.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
Lastly, the broker fails to provide us with legal documents on the platform.
These are red flags for forex traders to avoid losing money with this scam broker.
Withdrawal and Deposit
Withdrawal process
Under the withdrawal policy, Finance Up told us forex traders will be charged some fees on both withdrawal and deposit and nothing else. The shortness of information provided by this broker shows it is a scam.
Minimum Deposit
Finance Up minimum deposit is said to be $100.
As for the payment methods, we can make payment via Credit/ Debit card and Bank Wire Transfer. However, you should not consider making any payment with this broker because it is a risk. So beware!
Finance Up Platform
Finance Up does not specify its trading platform, which gives us more reason not to take this broker serious.
As for the leverage, it can get up to 1: 500. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Finance Up Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Conclusion: Is financeup.com a Reliable Broker?
No, financeup.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to review scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
