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Up4x Review - Is it scam or safe?

Up4x Review - is up4x.com scam or good forex broker?

RATING: 1 / 4 REVIEWS Up4x
Up4x is an offshore broker. Your money is not safe.

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Trading Accounts & Conditions

 

Account type  Minimum deposit  Minimum trade size Maximum leverage Spreads
Micro $500 0.01 1:500 from 1.0 pip
Standard $2 500 0.01 1:400 from 0.6 pip

 

Up4x offers its clients one basic account type with market execution, variable spreads, high leverage levels and no commission fees on the MetaTrader 4 platforms.

 

Islamic (swap-free) services are also available with this broker on the Micro accounts.

 

Indeed, the spreads of Up4x seem good, starting out at 1 pip on EUR/USD, and the leverage levels offered are high, which is typical for an offshore (unregulated) brokerage. However, there are several things we don’t like about this broker. First of all, we find the minimum initial deposit required by Up4x too high for a non-regulated broker. By comparison, you can open a demo account with FCA-regulated IG group by investing just $1. Second, Up4x does not offer demo accounts, so you cannot even test its platform.

 

In addition, the broker appears to be a client of fintech provider and MT4 integration company EQVOLA, that designed the UP4X’s website, which currently seems unfinished.

 

The Company. Security of Funds

 

Company

Country

Regulation

UP4X LIMITED

N/A

N/A

 

Up4x claims to be a registered brand name of Up4X Ltd., a company authorized and regulated worldwide. Furthermore, it claims to be covered by a Compensation fund. Unfortunately, none of this is true and the license uploaded on the website of Up4x belongs to Easy FX Solutions Ltd. – a company that offers brokerage incorporation services and which is indeed registered as a dealer in securities with Vanuatu Financial Services Commission. We cannot tell which of the two companies operates the brand, but either way – this broker is highly suspicious, as it makes false claims.

 

What is more, the Italian regulator Commissione Nazionale per le Società e la Borsa (CONSOB) has issued a warning against it and advises investors not to dealing with UP4X.

 

Therefore, we would also advise you to stay away from Up4x and select among brokerages duly regulated by UK’s FCA, Australia’s ASIC or CySEC.

 

Trading Platform

 

Like most brokers, Up4x supports the widely used MetaTrader 4 (MT4), available as desktop, web, and mobile versions.

 

MT4 earned its reputation due to its ease of use and various useful functionalities that allow the traders not only to make transactions but also analyze market dynamics, to automate their trades via wide range of Expert Advisors and to back-test their strategies.

 

Methods of Payment

 

Up4x offers its clients several payment methods: bank wire transfer, credit/debit card, and e-wallet Skrill.

 

Conclusion

 

Up4x offers trading in forex and various CFDs on the good old MT4 platform. Our main concern with this broker is that it not regulated and makes false claims, so we do not recommend it.

 

Pros

Cons

MT4 available

Not regulated and likely a scam

 

High minimum initial deposit set

 

No choice of platforms, limited payment methods

 

Latest news about Up4x
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Traders` reviews for Up4x

Spread

Pros

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Slippage

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Requotes

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Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

client

Attention!
I've lost all my small (200 Euros) by account managers help for operations!
They promised a lot but don't trust them...

Gabriele Anthes 02/12/2018

UP4X Ltd & all staff are SCAMMERS!!!

DO NOT TRADE with UP4X.com. They are the biggest scammers!! A person by the name of Dr Michael John Alastair is a CROOK!!
He entices people then steals their money. All the staff in this company are crooks too.
I traded with this company. Then he offered me 4% shares in UP4X Ltd for USD$400,000 and was coming to Australia with the shareholders agreement but did not turn up. Furthermore he stole all my money ie. USD$400,000 from my Account then turned my Account off so that I cannot access it.
This company works with CAC400 which is also a CROOK and Fraudulent.

Irene Tai

Irene Tai 08/11/2017

Up4x fraud / Up4x truffa

sono stata truffata da questa società dei miei 14000 euro+48000 euro guadagnati (sicuramente non veri)....sono stata contattata da un account indipendente che diceva che tra le società con cui lavorava c'era anche questa, che dopo mesi di lavaggio del cervello mi ha convinta a lavorare con lui...dott Damico Daniel

Translated with Google:

I was cheated by this company of my 14,000 euro + 48,000 euro earned (certainly not true) .... I was contacted by an independent account saying that among the companies she worked with was also this, that after months of washing Of the brain convinced me to work with him ... Damico Daniel

lorenza forni 06/20/2017

Up4x warning

Mi sono ritrovato le tradate sparite non si trovano neanche nel diario cambiano la leva quando vogliono quindi ti manovrano il tuo conto ma la cosa piu bella che quando ho comunicato di andare alla postale mi hanno disattivato il conto

Translated with Google:

I found the trades gone missing not even in the journal change the lever when they want to maneuver your account but the most beautiful thing that when I communicated to go to the post they turned off my account

tore 05/12/2017
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