UpBitFxPro Review – Is UpBitFxPro a Scam Broker?
- Website: https://upbitfxpro.org/
- Website Availability: No
- Address: 312 Belmont Pl SW Leesburg, Virginia(VA), USA
- Warning: Not Recommended By Proupshot
- Domain Blacklisted Status: It seems there is no direct mention of this domain being on a blacklist.
UpBitFxPro is an advanced and highly reputed online forex trading platform, claiming provisions for flexible leverage, tight spreads, and fast executions. On the contrary, an assessed foundation unveils a very disturbing picture underneath. An UpBitFxPro review further lays bare several red flags that show the lack of trustworthiness for this broker.
Lack of Transparency
No Company Ownership Details
The absence of transparency stands out as one glaring issue when putting UpBitFxPro under the spotlight. The site does not mention the company name associated with this brand. This raises a huge red flag; all legitimate brokers openly declare their company registration details and legal documentation.
No Legal Documents
No legal content, including terms and conditions, private policy, and risk disclosure statements, will be uploaded. Such an absence is not very minor and indicates a serious failure to inform the users about something basic to this platform.
Fake Licensing Claims
According to UpBitFxPro claims to be regulated by well-known authorities like:
- US Securities and Exchange Commission (SEC)
- Australian Securities and Investments Commission (ASIC)
- UK’s Financial Conduct Authority (FCA)
This is however nowhere substantiated. These claims are all made up especially since the broker is based in Jakarta, Indonesia – not typically known for being very strict on financial regulations.
No Trading Software Available
No matter what their high-speed execution and powerful tools are, any trading software that has not been made available for account opening raises serious questions. A trading platform is an absolute must for any true broker, and the absence of one here assures us that UpBitFxPro has no intention of offering real trading services.
Suspicious Account Types
UpBitFxPro states that different types of accounts come with:
- Leverage up to 1:500
- Tools for professional trading
- Bonus schemes
In fact, leverage levels such as 1:500 are prohibited by regulated brokers, and bonuses are often tricks deployed by shady platforms to entrap traders into unwinnable conditions.
Unrealistic Spreads and Features
As stated on the website, Basic and Premium accounts have spreads above two pips for EUR/USD, which can be considered extremely high by industry standards. But, since there is no platform for trading, these figures are meaningless and very misleading.
Take Action Today
Lost money to a scam? Don’t face it alone. Our expert team at Proupshot is here to help you recover your funds. With proven strategies like chargebacks, dispute resolution, and legal support, we guide you every step of the way.
Reach out to us today for a free consultation and take the first step toward reclaiming your money!
For updates, follow us on:
Leave a Reply