UltraPrimeFX Review – Allegedly UK-Based Broker Hasn’t Heard Of FCA

This brokerage is shamelessly presenting its services without any credibility. For a UK-based broker, they are missing so much transparency. At first glance, you can see something is wrong since their website is not secure. The same as all their services.

To find out all the warning signs about this fake broker, read our UltraPrimeFX review carefully. But don’t miss the latest updates on FNPMarkets and Futurebotstrade brokers. Knowledge is key to success.

Compliance and Fund Safety at UltraPrimeFX

As the broker presenting itself from the UK, it should be primarily in the FCAs register. However, upon searching UltraPrimeFX broker we didn’t get any results. Since the broker accepts also US traders, we were wondering if they have trusted US licenses. For example, CFTC or NFA. Unfortunately, the results were the same.

Since the broker exists only since 2023, it is very quickly exposed as an investment scam. Not only that they don’t offer any transparency, but also no security for traders. After finding out that they don’t have a trading license, you can’t expect much from them. Especially not to be genuine towards anyone.

The company’s goal is not to protect your funds. But to steal it. As we can see from the company presentation they don’t offer any funds protection measures. Such as negative balance protection or compensation fund. But even if they put it on the website, you can’t trust them. Because nobody monitors their activities.

Trading Software Overview

Trading software is another warning sign for UltraPrimeFX scam broker. The company only provides a web trader to its traders. Most importantly, they don’t provide you with free access to the platform. Which leaves enough room to be suspicious about it.

If the broker is not hiding anything, they would offer at least a demo account. Thus, they don’t. The only way to test the broker out is through a live account. But then it’s too late. Nevertheless, the company presents potential benefits for a web trader. But in reality, it can’t be compared to the industry-leading third-party software. Such as Meta Trader or cTrader.

UltraPrimeFX web trader doesn’t have any advanced features. Like automated trading, copy trading or Expert Advisors. Not even some more advanced analytical tools. Practically nothing that would attract experienced traders to deposit any money here.

Account Types Available at UltraPrimeFX

What makes this broker even more suspicious is their account-type offer. There are 3 account types but none of them give some significant financial benefits. On the contrary, it looks like it’s all designed just to get as much money from traders. The choices are:

• Beginner
• Advanced
• Pro

Only a minimum requirement is revealed for the beginner program. Even though the broker presents 0 pips spread for the Pro account, most likely it’s all fictive. Same as the commission. The only real deal here is their leverage of 1:1000. Which is another proof of this investment scam.

FCA’s maximum allowed leverage is 1:30. The same value as European Securities and Markets Authority. Violation of the rules is obvious.

Methods of Deposit and Withdrawal

As we can see from the company presentation they accept 3 payment methods. Those are:

• Debit and Credit cards
• Wire transfers
• e-wallets

The only thing revealed about the deposit and withdrawal policy is the minimum deposit of $250. However, if you are looking for processing fees, processing time and other clauses you won’t find it. The company doesn’t have any transparent legal documents. For allegedly UK-based broker, that’s completely unacceptable.

How the Fraud Has Carried Out

Con artists like UltraPrimeFX don’t hesitate to use every tool possible to get more traders. Whether it’s luring through social media or offering bonuses for referring a friend. By expanding their network they have more potential victims. With shady software, they can firstly control traders’ reactions. For example, to manipulate market data and present market crashes.

Of course, with an intention to extract more money. But everything becomes a nightmare once traders want to withdraw the profits. Without a transparent policy, traders don’t even know what to expect here. But if you hear that you have to pay more money for a withdrawal, don’t bite it. Because if any costs really exist, those could be taken from the account balance.

But if they are asking you for some upfront payment you know for sure it’s just a trick to get more money from you. Let us know what is your experience with this broker. The only way to prevent traders from becoming their next victim is by sharing your experience. After all, if this broker or any other stole your money there is a solution. You can file a chargeback and get your money back. Our team is there to assist you with it. Get in touch today.

UltraPrimeFX Summary

As a broker presenting itself from the UK, it has too many flaws. Starting with missing regulations and legal documents. On top of that, the company is using an unsecured website and trading software. We can’t exclude a non-existent withdrawal and bonus policy.

Practically the broker doesn’t have even one positive thing. But you know what to do if you were their victim. Contact our specialized team for fund recovery assistance.

FAQs About UltraPrimeFX Broker