Independent Review - Uptos
Uptos is an online broker that was launched in 2019 and offers a large variety of derivative trading instruments across all the major asset classes, including a huge selection of both stock derivatives and forex pairs. In addition, traders can access commodity markets and stock indices, as well as the new, popular digital currencies. Even with a short time in business the broker is quite knowledgeable and experienced in the markets thanks to the long experience of its management team.
In looking into Uptos as a broker we found some things that might be concerning, but also a lot of characteristics that we think recommends the broker. The wide variety of assets is one of those characteristics, as is the wide variety of account tiers that makes it easy for every trader to fond conditions that meet their needs.
The Uptos broker is owned and operated by Uptos Ltd. and is in Saint Vincent and the Grenadines. They provide their financial services to over 80 different countries.
The website of Uptos is professional looking, clearly designed, and easy to navigate. Any prospective client will easily be able to find the information they need and to sign up for a free account to access the demo trading platform and test out the conditions offered at Uptos.
It is also easy to see that they are working with the popular and powerful MetaTrader 5 as their trading platform, which we are sure is good news for many of the traders reading this. MetaTrader 5 is a solid platform, with a wealth of tools and indicators.
Traders can get started with the entry level account with a minimum deposit of $250. The website isn’t very clear on the trading conditions, but if you register, you’ll get more information inside the trading portal.
Uptos Limited is registered as a financial investment company in Saint Vincent and the Grenadines (SVG) and operates under the laws of that jurisdiction. That does not include any regulation, and Uptos as far as we know is not regulated by any agency. As we mentioned above, the broker has a commitment to provide the best service possible. They are also smart enough to know that they must protect their reputation.
Uptos offers its service to more than 80 countries around the world, however that doesn’t extend to many countries, and they specifically mention not offering their services to residents and citizens of the United States of America, the Islamic Republic of Iran, and North Korea.
Because Uptos offers its services in so many countries you might find some discrepancies between what is mentioned in this review and what is offered in your country. Uptos must follow the laws of each jurisdiction they operate in, and that sometimes leads to different offerings or terms.
There are six different account types being offered by Uptos, which means there is something suitable for nearly any level of trader. Below are the six account types and a brief description of what clients will get with that type of account:
Student Account – With a $250 minimum deposit you can begin trading immediately with a Student account. It features access to the MT5 trading platform, 24/5 support, and minimum lot size of 0.01 lots.
Starter Account – The second tier becomes available with a deposit of $2,500 and in addition to the previous benefits also allows traders to take advantage of swap-free Islamic accounts.
Premium Account – The minimum deposit required for a Premium account is $10,000. At this level, the clients will get access to their own personal account manager.
Advanced Account – The advanced account requires a $25,000 minimum deposit and adds access to Uptos’ daily analysis on top of all the previously mentioned perks.
PRO Account – While the minimum deposit is $50,000 for the PRO account it also unlocks several valuable features such as fixed pricing and all the previously mentioned benefits.
VIP Account – This top tier account requires a minimum deposit of $100,000 and it was specifically designed with experienced and sophisticated traders in mind. The broker site says VIP account holders can access unique and exclusive trading conditions, which they can learn about from their personal account managers.
The extremely large number of assets available on the Uptos platform is one of the strengths of the broker. There are over 100 currency pairs and over 1,000 individual stocks, and so much more than that. Here is a listing of the assets on offer at Uptos:
- Spot Commodities
- Individual Shares
- Spot Energies
- Spot Metals
We were very pleased to see that Uptos is using MetaTrader 5 as its platform, although to be honest we would have preferred to see MetaTrader 4, but that’s our bias as old traders. The MetaTrader 5 platform is the updated version anyway and younger traders seem to prefer it. As a bonus Uptos makes MT5 available on desktop, mobile, or web.
As you might already know, MetaTrader 5 is the premier charting and technical analysis software. With dozens of built-in indicators and the ability to program most types of analysis into the platform using the proprietary MQL5 language there’s not much MT5 can’t do when it comes to charting and technical analysis. And since the web, mobile, and desktop versions are synched you could place a trade in the morning at home on your desktop client, and then in the afternoon modify or close that position on your smartphone.
Another benefit of MT5 is the ability to create or use trading robots and trading signals. These robots and signals can make trading far easier by automating your most common trading scenarios.
- Trade any type of asset
- Four market order types
- Most advanced charting and analysis platform
- Available for Windows, Android, iOS, and a number of browsers
Deposits and withdrawals at Uptos are limited to the most common transaction types of Credit and debit cards and cryptocurrencies. Deposits and withdrawals are free; however, you may see fees and charges from your credit/debit card company. And the transaction fees from paying with cryptocurrencies are still your responsibility. Accounts can be opened denominated in USD, EUR, GBP, or AUD.
Uptos has a customer service staff that works tirelessly 24/5 to answer any questions you might have or address any of your concerns. You can contact them via telephone, online chat, or through the webform found on their website.
Webform: Contact Support
To put an end to this review we have to say the sheer number of assets available at Uptos is very impressive. We also liked the account tiers, which offer clients additional benefits for higher tiers without making the minimum deposit requirements insane. It seems clear to us that Uptos has its clients’ interests firmly in mind.
Of course no broker is perfect and we would like to see Uptos gain regulation, and we would also like to see them add some additional transparency to their website rather than requiring users to create an account to access some information.
Overall, we believe Uptos is worth considering as a broker, no matter if you’re new to trading or have decades of experience.