TraderUP Review: Main Irregularities and Risks Revealed
The determination in this company’s activities to scam traders around the world is amazing. Still, there are very easy ways to discover if some company is legitimate or not.
In the case of TraderUP company, it would be better if they shut down completely. Instead, they are coming back again with a new domain. Therefore, read this latest TraderUP review carefully and collect all our tips to keep the funds safe.
|Active Forex and CFD trading scam
|United Kingdom (allegedly)
|Financial Authorities Warnings
|FMA, FSMA, ASIC, CONSOB
|Phone; web contact form
|If a withdrawal is possible
|If Active on Social Media:
|Belgium, Ireland, Switzerland, Australia, United Kingdom
|Unregulated broker; zero funds protection features; shady software; unclear trading conditions; bonus policy;
Company Definitely Not Legit, But Why?
In the first place, the company claims to be registered in the United Kingdom, but without any transparent legal name or license details. Hence, finding their regulation in the FCA register is difficult. None of the results match the TraderUP brand. Just in case, we are checking the main regulatory databases in Europe, such as BaFin, CONSOB, and CySEC. However, we came up with numerous warnings against this firm, and zero licenses were provided.
As can be seen, the warnings were first published by Austrian FMA and Belgian FSMA. The last two warning updates are coming from Italian CONSOB and Australian ASIC. After all this, is it reasonable to trust anything this broker claims? Absolutely not.
Traders Review Back-Up Scam Allegations
In general, it’s quite a big deal if a company has 8 negative reviews out of 34 in total. In combination with multiple warnings, it’s hardly believable that any of the positive TraderUP reviews are legitimate. In any case, taking a closer look at Sitejabber comments, you will see how this broker scams traders.
Obviously, the company is pumping up fake profits on the traders’ accounts. But once those traders require a withdrawal, suddenly, some issues appear. Starting with verification problems, non-existent fees but also taxes.
Meta Trader vs TraderUp Platform
As can be seen, TraderUP broker presents its proprietary web-based platform as the latest technological invention. They even dare to compare it with the most reliable software in the industry, MetaTrader. Thus, the company’s software is not even close to the MT4 or MT5 transparency. Of course, it doesn’t provide any of the advanced features.
The main options available with the TraderUp trading platform are:
- Easy-to-use wallet
- 200+ instruments
- Web-based platform
- Optimized execution
- Personalization and customization
- Multi-chart view
- Navigation and risk management tools
- User-friendly platform
Thus, these features are just basic ones with any other platform. In fact, Meta Trader has it all. On top of that, you can also use social and copy trading features, Expert Advisor features, scalping, hedging, and netting. Not to mention that with MetaTrader, traders won’t experience market manipulation, unlike with TraderUP software. But to learn other software tips, read our UberChains review.
Account Types And Trading Conditions
One of the things that are not possible with regulated companies is to be non-transparent, especially when it comes to trading costs. Practically, if you don’t know any of those, companies can make up anything along the way. Therefore, it’s extremely risky to put any money in TraderUP forex investment firm.
On top of that, there’s are minimum deposit requirement of $300. But when you know that regulated brokers allow you to start with only $10, why would you risk anything here? Especially when demo and micro accounts are not available. But here’s a tip. If a company offers you as a retail trader any leverage higher than 1:30 in Europe, know they are scamming you.
Funding and Withdrawals As Another Mystery
As can be seen, the company is advertising a revolutionary funding method. Apparently, it’s the safest one, far from anything you have seen before. Thus, that doesn’t mean it’s safe. In the end, to make a deposit, the company requires you to contact them via phone. This allows their boiler room swindlers to manipulate you into something that you don’t want.
In addition to that, the company is not revealing any withdrawal-related details. Allegedly, once you request a withdrawal, their finance team will review it, and once it is approved, you can get the funds.
But they don’t mention they will come up with verification problems, shady fees, and non-existent taxes. All these tricks are there to make you either send them more money or back out of business. Therefore, prepare yourself by checking our Zeta Trade review tips.
Getting In Touch With the Company
In general, the company offers one of the best options to reach out to the broker. That’s a phone line. However, in recent years, even phone lines have been suspicious primarily because scam brokers offer phone lines through VOIP services.
This way, they keep the anonymity on the highest level. Instead, you should check what regulated companies offer and see the difference.
How Can I Make Money While Trading Online?
Making money in the trading world has never been easier. Yet, traders are making it more complicated. It was always, and always will be, the safest option to trade with regulated companies. Otherwise, none of the profits you are making are worth it.
On top of that, traders keep living in the past. They forget that numerous advanced features are available nowadays to help them maximize their results. For instance, there’s an AI Analysis Tool that helps traders make better trading decisions. This AI allows traders to quickly scan the market and, based on numerous variables, forecast the way the market may go.
Once you get used to it and start using it with regulated brokers, the difference appears. Therefore, stop wasting time with scam brokers and auto-trading robots because that won’t make you rich. Get in touch with our team and find out all the benefits of AI Analysis Tool. Bonus tip: the meeting is completely free.
What is TraderUP?
TraderUP is a fake brokerage presenting itself as a United Kingdom-based Forex and CFD investment company.
Is TraderUP a Regulated Broker?
Not at all. Instead, the company is on multiple warning lists. Starting with FMA, FSMA, ASIC, and CONSOB, all top-tier regulators.
How to Withdraw Money from my TraderUP Account?
If you can’t regularly withdraw funds, you can contact our refund experts for additional refund and chargeback advice.