Uptos overview 2020
Uptos is an online broker offering multi-asset trading with fast payments and reliable customer support.
Uptos Ltd has been operating since 2019 and 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 for a variety of currencies, commodities, indexes and shares. The broker also offers flexible financing options and maximum liquidity with 6 accounts to choose from.
Uptos offers a varied list of products. More than 90 currency pairs are available, as well as spot commodities and energies including gold, silver and oil. Clients can also speculate on popular cryptocurrencies such as Bitcoin, Ethereum and Ripple, and buy and sell over 1,000 shares.
This review was disappointed by the lack of transparency regarding trading conditions and fees. Floating spreads are available: gold is around 0.4 pips, silver is 3 pips, and crude oil is from 6 pips. Unfortunately, the average spreads for Forex, Cryptocurrencies and Stocks are not listed. This is frustrating as it makes it difficult to estimate trading costs before opening an account.
Uptos offers trading rates up to 1: 400 leverage. But while being a great tool for increasing positions and profitability, it also increases potential losses. This is why CySEC, for example, limits the leverage that brokers can offer retail clients to 1:30.
Deposits and withdrawals
Payments can be made via Skrill, Visa, Mastercard, PayPal and bank transfer. The minimum deposit accepted is $ 250, which is higher than the minimum requirements of many online brokers.
Funding your Uptos account and withdrawing profits is free. Payment terms vary by method, but deposits are processed instantly and withdrawals take from 3 to 5 days.
Uptos does not offer a demo account. This means that potential clients do not have the opportunity to test the services, tools and customer support of the broker. This also means that beginners cannot refine their strategy before switching to real money trading.
Unlike most brokers, Uptos does not provide any additional resources. Additional trading tools and educational resources are extremely important for traders of all levels and help differentiate brokers, so the lack of any of these features is disappointing.
Uptos offers 6 types of accounts: Student, Beginner, Premium, Advanced, Professional and VIP. The main differences are the minimum deposit levels and the addition of an account manager and daily analysis with higher levels.
The minimum deposit starts at $ 250 for a student account, which increases to $ 2,500 for a starter account, $ 10,000 for a premium account, and goes up to $ 100,000 for a VIP account. The MT5 platform and mobile app are available for all accounts and the minimum position size with all parameters is 0.01.
Uptos does have a live chat team that’s great for getting live support. On the other hand, the customer service representatives did not know much about the broker’s trading services.
Alternative customer support forums include:
- Phone – +18559253933
- Email address – firstname.lastname@example.org
- Online Inquiry Form – Contact Us Page
The MetaTrader 5 platform follows industry standard encryption processes that protect client data on and off the server. This includes using two-factor authentication at the login stage. However, the broker’s website has limited information about security protocols.
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