Read our Up Trade Market review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is an uptrademarket.com review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Up Trade Market is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Up Trade Market in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Up Trade Market Review Conclusions
Making the Up Trade Market review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Up Trade Market review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Upgrade is a scam. They call me every day including Sundays about profit in my account. The problem is I do NOT have an account with them. Every day I tell the I do not have an account and asked the stop calling me, the continue to call. I asked to speak to the manager, and got hang up on.
Yes they are. That Ria Hudson she called herself was good!! She knew what she was doing for sure.. there’s a Leo, Claire & Ria .. watch out for those names
Same here, my wife is receiving calls from them since months now. I think i already spoke with MR Uptrade himself by now 🙂
after a very long time I did receive an e-mail from them where the want to explain us how to close the account (which I won’t do as we never opened an account)
I’m replying them sending a link to this page too, hope that makes them stop.
if not I could maybe share the e-mail adress of the person who contacted me and we can all start stalking them too? 🙂
I am one of the ones who got scammed, to the tune of $9,000CDN. Three different transactions- each of them 3 thousand dollars.
After the first one, where I had told him that I didn’t need a high maximum limit for investing, and before I could react he clicked on the etransfer button. And yes, in the interest of walking me through the process I stupidly access my account through any desk. He assured me that the money would be returned after the weekend.
On the Monday he said that I would have to deposit another 3000- and I lost it. At the same time, I was already down the initial amount- and felt that I had no choice. And so Tuesday morning- another 3 thousand.
And then came the big scam, and finally I said no! I contacted bitbuy and they were so wonderful. I have 9,000 out of my retroactive disability pension- but the big payout for him would have involved a line of credit along with my credit card ceiling. Just under 35 thousand dollars.
Thinking I’m getting scammed but they haven’t asked me for more money and I’ve just asked for a withdrawal so far I’ve only paid 300 American but it says I’m up 33000 and change waiting to see now.
very similar pattern here. I didnt open account with them but they make it look there is $300 there. then they wanted to show me how good they are and after 2 days account showed $600…Now they are pressing to deposit few bitcoins to make a huge money..At the beginning I wanted to deposit few hundred but after relentless calls everyday (!) I realized this is a scam. There is no way I would get any money from them.
They have been calling me relentlessly, various hours of the day. Camila offered to guide me through the process using Any Desk. I figured something wasn’t right so I ended the call.
Yes there are scammers. A lady named Jessica abs victor. Look out for these names and they say they work with bull Bitcoin. Bull Bitcoin told me none of those names work did their company
They use any desk to hook me up and took $1180 from my coinbase wallet. With Any desk They have control over your system. Remember They are smart IT people who transferd your funds to their wallet in a second.
After one week.They said I have $6,515 in profitt.Then the second person left and then comes another person who said she is my new adviser and I should put inn more money for my trading. Mean while the update of the account has stop for three months when I asked why. She said the account will be update automatically as soon as I put in more money. I refuse so she told me to close the account and take out my profitt. Which she did. Now after closing my account she said I got a balanse of $46,515 which included insurance on my trading.
Then asked me to deposit 50% of 46,515 in my account for financial declaration in order to get all the money in my account. I don’t have that 50% but she said she will help me to get a loan from some banks in my country which she did. The bank called me the loan of $23,252 is ready for me but I refused to sign the bank’s papers for the loan.
This woman is pressing me to take the loan and she will do everything for me and within 24hrs the money will be ready on my litebit account wallet.
Hmm. The problem is why do I have to do financial declaration for my profitt that I don’t have control over.
The $46,515 is still with them in my wallet any advice please.
got scamed out for 5000 same way need to put money in to get my money out it was at53728$
Rich, don’t get the loan. If you get the loan, it will go into the account they will not send it to you but the bank will come after you for the loan. Let whatever you have invested go and lets spread the news so many more people won’t be scammed.
Uptrade market is a BIG scam PLEASE do not believe them , They try to stele your money
It’s a serious scam. I got scammed by ‘Leo Garcia’ for more than 50.000 euro using anydesk to make it ‘easier for me’. They are not done with me. Any advice is welcome!
Leo Garcia was trying to get some money from me to, but i saw in time it was a big scam .
I am happy i dit not give money to that thief