Thinking of trading on Up Options? Here is what you must know about this broker. Carefully read this review to find out if upoptions.com is the trading platform you will want to trade with.
Table of Contents
Do You Know You Could Get Back Your Money If You Have Been Scammed? Great News! Click HERE to Get Started
About Up Options Broker
Up Options is an offshore brokerage company with a lot of promises for traders. The broker’s address shows it is from St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines.
The broker claims to offer tight spreads, no Commission and verified security.
Up Options offers different account types like Basic, Silver, Gold and Platinum.
In spite the trading instruments Up Options claims to offer, traders must know they are dealing with an unknown broker whose regulation claim is false.
upoptions.com: Reasons to Avoid This Broker
upoptions.com is a platform with no financial authority overseeing its financial services. The regulation claim is not legit because Financial Service Authority, SVG does not regulate or monitor brokers.
Another red flag we noticed on upoptions.com is that it has no demo account for traders. Since traders can’t test Up Options broker on a free account, then we can’t know its viability in the forex market.
Since the broker does not offer money back guarantee, it means trading on any account type is clearly a risk as your money will not be refunded.
This is a warning for forex traders to avoid losing money with this broker.
Withdrawal and Deposit
Withdrawal process
The broker provides no detailed information on the withdrawal or fee.
Up Options lacks transparency and that tells us this broker is not trustworthy and should be avoided.
Minimum Deposit
Up Options minimum deposit on the basic account says $0. While the broker wants forex traders to trade whatever amount, it does not prove that the forex broker is reliable.
The broker accepts payment via Debit/ Credit cards and Wire Transfer. Nevertheless, you should not consider making any payment with this broker because it is a risk. So beware!
Up Options Platform
Up Options operates a Web based trading platform. The broker refuses to make use of industry standard (MT4 or MT5) that are widely accepted for better trading.
As for the leverage, the broker recommends none for forex traders.
Up Options Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. In fact, It is not under any financial regulation that means your money is at risk. Its licensed and regulation claims are false and a major red flag.
Trade with TOP RATED BROKERS Instead
Accounts
Free Trial
Projects
SSL
S
Licensed in UK(FCA), Dubai(DFSA), St Vincent and the Grenadines, Cyprus(Cysec) and Cayman Islands
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
TOP CHOICE BY TRADERS
Licensed in UK(FCA), Australia(ASIC), Belarus(NBRB) and Canada(IIROC)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:300
BEGINNER FRIENDLY
Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
Minimum Trade Deposit $100
Maximum Leverage
1:500
Conclusion: Is upoptions.com a Reliable Broker?
upoptions.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
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 forex brokers and also share reasons, we do not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.
