Read our Up4profit review to see if we recommend this broker for trading. Just to clear doubts, this is an up4profit.net 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 Up4profit 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 Up4profit 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.
Up4profit Review Conclusions
Making the Up4profit 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 Up4profit 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.
My story is long and i will try to wrap it up.
DO NOT trust this company. I approached them for online trading last March and invested for beginning 300€. It took more than a month and a half for the trader i was appointed to convince me to invest 5.000€ on some short of very good Crypto purchase and i didn’t like his approach overall plus a few very weird changes to my account on their website so i declined and pulled back. A week after i was contacted by someone who claimed that was above the trader and that he was fired for trying to steal up4profit customers and he offered my money back (which they returned) but first he sent me to another trader and asked me to make a new trading account on another trading platform which was marketsocta.com (THAT’s already known to be a scam trading company – thus their webpage is not working any more). So i re-invested on my own will the 300€ plus more and plus more and long story short … even though numbers were looking great when i actually asked for a withdraw on some of my profits … money never reached my account and ALL people / emails / contacts from marketsocta.com vanished – So did all my money (actual and earnings).
A couple of weeks after i discovered the whole scam with marketsocta.com i was called again by someone from “guess” Up4profit.com. This time he claimed to be a Greek guy working for up4profit by the name of Manolis Aleksandrakis – Yes Greek as i am also Greek. He was trying over and over for days to convince me to trade with up4profit now and when i told him that i am NOT going to to that as i blame up4profit for sending me to marketsocta.com he magically accepted the fact that a few weeks back some people from the company went rogue and cheated several customers (including myself) and these guys are now behind bars or something.
So then he offered me a solution. To create an account with ZERO money just to be verified user (ID and proof of address was asked) and then legal team of up4profit would search for my “frozen as he claimed” money from marketsocta.com scammers in collaboration with ESMA (a european organization that is supposely relevant for this this / to find and unfreeze my lost account). Note that ALL communications are made over whatsapp or viber and NO actual landline not for up4profit OR the company that is supposely licenced which is PROFITS PTY LTD based in Australia – Active and Registered but NO ONE knows if they are licenced to trade online / NOT even the regulator of Australia ASIC gives such information and consulting a local lawyer is the next best thing to do in order to see if they are complete scammers or not. So continuing my story … i was e-mailed from original up4profit.com address which is [email protected] a document with the stamps of ESMA and up4profit which mentioned that after searching the information i sent them they found my lost money on some frozen offshore account and ONLY i could unfreeze them through ESMA and legal department of up4profit but with some money upfront. I engaged some bargains and was lead to have an agreement with up4profit via their so called Manolis Aleksandrakis trader/representative. I was supposed to transfer 5.000€ to an account that supposely belonged to ESMA or up4profit and then they would also cover some extra amount and after a few days i would see my frozen money into my bank account. Note that they asked for proof of life which means selfie of me and my ID in hand which means that they can use that to take the money on their own and kiss me goodbye … but WAIT!!! The actual document that i received from their official email address was FRAUD. How do i know that? I simply emailed to at ESMA and received this answer.
So of course i didn’t send a single penny and when i confronted Mr. Alexandrakis about this he of course denied everything sticking to his story trying to convince me that i would lose the opportunity to find my money and so on and so on and so on.
Of course i filed a law suit on cyber crime division and i hope that they will eventually find the scammers and panish them accordingly.
Bottom line DONT TRUST THEM. Oh and since then i have been contacted by more trading companies which LUCK trading licence but claim they don’t. If you want me i can share these names and the proof with you as well on a reply.
(1/5)
up4profit is realy a scam trading company. I am more lucky of Antonis. I lost only 200 euros. The name of trader is Giorgos Manis but im think is fake. I have his personal email. Antoni if you see my comment γραψε μου στο χοτμαιλ zefyros33 η ζητησε το απ το personal reviews
Following up my October 20th review on up4profit.net i would like to make some additions since i was called by Mr. Alexandrakis who i am refering to on my previous review and was asked to delete his name as same time i didn’t announce other names from the persons that scammed me. So here i am to correct my wrong. The first representative of Up4profit back in March 2022 when it all started was Mr. Andreas Galanis. That guy was trying to convince me to trade with up4profit but never gained my trust so i refused. After a few days i was called by one of his so called supervisors telling me that he Andreas Galanis was fired as he was trying to steal customers from Up4profit. That guys name was Bravos something. I talked to him a couple of times and he offered me my initial deposit back which was 300€. To be fair that time they returned me the money in my bank account and then i was asked if i wanted to continue trading with someone else of their network and i accepted so i was sent to marketsocta.com to Mr. Alkiviadis Vasileiou. Now HE was the most MAJOR liar of all times. It’s funny because to the same account that i received my 300€ i was asked to send whatever i wanted to start trading and so i sent them quite more than that amount. And after only a few weeks i was offered a very good investment plan which i followed and lost a small fortune under the instructions and nice conversations i used to have with Alkiviadis Vasileiou. Although all the trades were successfull … i never received back a single euro and Alkiviadis Vasileiou vanished – phone calls never answered again – messages either and of course emails also. After a few weeks marketsocta.com webpage also dropped for good.
So to set things straight while i didn’t invest 1 euro with up4profit.net – i lost lots of euros being deceived by them to work with an affiliate company and then as described above i was lured to invest again this time with up4profits.net like in the very beginning and asked to follow documents which turned out to be fake and fraudulent, claiming to retrieve my lost money which was all a huge lie and the liar behind the line was none else than Manolis Alexandrakis who had the nerve to call me, ask me and eventually threaten me in order to delete his name as he personally didn’t take 1 euro from me or better yet didn’t convince me to send 1 euro to their accounts. It’s also funny the fact that when i REALLY insisted that i was deceived by people from up4profit only then Mr.Alexandrakis admitted that some people above him were deceiving some customers like myself and amongst them was Alkiviadis Vasileiou and that these people were discovered and supposely faced the authorities for their actions.
I hope this covers your request Mr. Alexandrakis now that i have posted more names and was more detailed on my review.
(1/5)