Up4Profit Review – The Reality Behind This Scam Broker
Despite what Up4Profit may seem like, don’t be fooled. It is only a standard FX scam because this broker would stop at nothing to acquire your money.
This company poses an open danger in terms of your funds and any personal information you might divulge. It is assured of that. This broker is risky and not worth any money, as the Up4Profit review that follows will show.
|Minimum Deposit||250 EUR|
|Leverage||1:20 up to 1:500|
Up4Profit Regulation and Security of Funds
Is Up4Profit a regulated broker? What we discover in the legal documentation is essentially a swindler agent standard. According to what we’ve read, the broker complies with both Estonian and Saint Vincent and the Grenadine’s legal requirements.
Let’s first take care of Estonia. Even though this European country has its own regulator, scam brokers from all over the world continue to use it as what amounts to a convenient excuse. We first thought it was comical since it is so prevalent, but now we think it is an unnecessary addition.
Saint Vincent and the Grenadines claim, which places the broker in the most scammer-friendly country of all, is another aggravating factor. Actually, it might be true, but that doesn’t change the fact that there is no FX regulator in the country and the majority of the legal systems serve scammers.
Then, in the footer, we discover an absurd false ASIC regulatory allegation. The dealer is neither registered nor subject to regulation in Australia. Up4Profit broker is illegal and dangerous for everyone!
It would be terrible to lose all of that money to con artists. By signing up with and making investments with an unlicensed brokerage, you are essentially wasting your funds on an illegal and entirely pointless endeavor.
Up4Profit Supported Trading Platform
WebTrader is the most popular platform used by scam brokers, and this is exactly what Up4Profit provides. Only the most basic features and the software’s specified manipulation component are included.
Other than graphical items and chart types, not much else is available. As a result, you should use premium programs like MetaTrader 4 and MetaTrader 5.
Up4Profit Account Types Available
Up4Profit offers six account types, below there is a screenshot from their website demonstrating what each of them represents. There is Starter, Premium, Premium Plus, Business, Luxury, and Black Pearl. Unfortunately, their interface is not so well executed, since it is hard to see account names; it took us some time to realize there is any text in the black boxes.
Regardless, the minimum deposit ranges from 250 EUR to 100000 EUR, and so does everything else, but the WebTrader is the only platform you can use. This investment scam is really taking all of this too far with the number of accounts it offers and the trading conditions they are trying to sell, our advice is to avoid it and find a regulated brokerage.
Up4Profit Offers Bonuses and Promotions
Up4Profit scam has a few more aces up its sleeve, and this is referring to the bonuses and promotions they are using to lure more inexperienced traders in.
There is a “Welcoming Bonus” that is 10 – 24% of your first deposit. Next, we have a “Refer a Friend Bonus” which is 20 – 26% of your friend’s deposit, and finally “Transfer Funds Bonus” which is 10 – 20% of the transferred amount. Percentages of the bonuses always depend on the account type a user chooses.
Massive bonuses are one of the most common tactics for scam brokers to deceive their victims. There are unstated conditions tied to this seductive and attractive promise. You must meet a specific turnover goal that is not what they initially stated it to be and is fixed at an absurdly high sum of money.
Deposit and Withdrawal Options
Up4Profit broker accepts payments from VISA, Mastercard, Maestro, Wire Transfer, and Bitcoin. The minimum deposit is 250 EUR or $250.
We learn about the following commissions in the murky Deposit and Withdrawal costs. First off, a 10% automatic tax is applied to any withdrawals from an account that has not reached a 200-times trading turnover. Then, we charge $5 for every wire transfer and $35 for every credit card.
For all bank transfers, the minimum withdrawal amount is $250; for all other withdrawal methods, it is $100. We don’t know how real the legal documents are since they are a copy-and-paste version of oneself that scam brokers have used frequently over the years.
How the Fraud Is Implemented
In this Up4Profit review, let’s talk a little bit about how fraud is performed. Scam brokers are experts at deceiving individuals and figuring out their vulnerabilities through lies and manipulation.
Unfortunately, victims of investment scams typically discover their situation a little too late; by then, the broker has already vanished, and recovering your money might be difficult. It’s never too late, though! Stay vigilant and safe!
As our Up4Profit review comes to a close, we want to emphasize the risk involved with making deposits and investments into shady and doubtful businesses.
Scam brokers often target an extremely specialized market, which consists of unskilled traders and investors. When discovered, they disappear after using deceptive tactics and fabricating opportunities. Avoid using unregulated platforms and organizations as much as possible.
FAQs About Up4Profit Broker
Is Up4Profit Regulated Broker?
Up4Profit broker is not regulated and hence it should not even be considered a broker in a real sense.
What Is the Minimum Deposit at Up4Profit?
The minimum deposit is 250 EUR, but it ranges depending on the account type a customer chooses.
What Account Types are Available at Up4Profit?
Account types at Up4Profit are Starter, Premium, Premium Plus, Business, Luxury and Black Pearl.