Uptrend Center would like for you to consider it a “respected online trading partner.” Verifying the information, however, indicates that this is not the reputable forex broker it claims to be. In actuality, it is a standard scam website attempting to prey on individuals looking for online passive income but lacking the requisite expertise in financial markets. Trusting the Uptrend Center with your money would be a terrible error.
Read this complete Uptrend Center review to know more about the Uptrend Center scam.
Website – https://uptrendcenter.com/
Address – Saint Vincent and the Grenadines
Warning – British Columbia Securities Commission (Canada)
Regulation
The Uptrend Center website can appear trustworthy at first glance, but a closer look exposes a big red flag. Who is behind the Uptrend Center is a complete mystery. A legal entity is not mentioned on the website or in the Terms and Conditions that are attached. This is completely unacceptable for any honest company, much less one that offers financial services.
The anonymous firm operating the website is based in Saint Vincent and the Grenadines, per the text of the Terms and Conditions. This offshore area is well known for its lax rules. You are informed that the community does not license brokers as soon as you enter the website of the neighborhood Financial Services Authority.
Trading Software
We discover that the Uptrend Center uses a reasonably straightforward web-based platform after creating an account. The platform lacks the more refined capabilities seen in the most popular trading platforms on the market, MT4, and MT5.
Trading Conditions
As one would anticipate from a reliable broker, The Uptrend Center does not include a thorough description of the tradable instruments and the trading conditions. The five different types of categories of trading accounts—Basic, Silver, Gold, Platinum, and VIP—are only briefly described on the website.
The starting account requires a minimum deposit of 250 USD. You might employ the services of a licensed broker, including many of the major brands on the market, for the same or frequently less money.
The website claims that traders using a basic account must pay a spread of more than 3 pips, which is double the industry standard and incredibly unprofitable. Only Platinum and VIP accounts offer a spread that is on par with the actual rivalry.
The leverage available is up to 1:400. This is not the level at that regulated brokers operates. Higher earnings are possible when using high leverage, but the chance of excessive and unexpected losses also rises proportionally.
Deposit and Withdrawal Methods
Uptrend Center offers a variety of payment options, including credit cards, wire transfers, and anonymous e-payments, according to the FAQ section. But only cryptocurrency transactions are mentioned in the Terms and Conditions. After creating an account, we discover that we must get in touch with the website’s unidentified proprietors personally in order to make a deposit.
100 USD are the specified minimum withdrawal amount. There are withdrawal fees; however, the Terms and Conditions don’t specify how much they cost. However, it is unlikely that you will be able to get your money back from the Uptrend Center after making the mistake of handing it to them.
Withdrawals are permitted if the account has received a bonus once the minimum traded volume criteria are satisfied, which is 20,000 times the bonus value. Such provisions are frequently used by fraudsters to deny withdrawal requests.
Uptrend Center Review Conclusion
The Uptrend Center is actually unregulated by any regulators. It is risky to allow this broker to hold or handle investors’ money, and there is no legal safeguard for that money. As a result, it is a fraud. If you fell for the Uptrend Center scam or any other scam, you can file a chargeback for fund recovery. Make a complaint by filling out our online form. Our experts will provide you with a free consultation, and we will assist you with the fund recovery process.
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