Brief Look at Uptos
Uptos operated as an unregulated broker registered in the offshore jurisdiction of Saint Vincent and the Grenadines, raising serious concerns about its security measures and trading integrity.
Clients on multiple trading forums reported being unable to recover their invested funds. Reviews described hidden fees and ongoing pressure from account managers to make additional deposits. The broker did not offer a demo account, and its trading conditions, including leverage up to 1:400, failed to meet European regulatory standards.
Uptos eventually ceased operations after being blacklisted by several international financial regulators. In May 2020, Italy’s CONSOB (Commissione Nazionale per le Società e la Borsa) blocked the Uptos website for operating without proper licensing. The following month, France’s AMF (Autorité des Marchés Financiers) added Uptos to its blacklist due to illegal activity in the Forex market. Belgium’s FSMA (Financial Services and Markets Authority) followed in November 2020, warning investors about the risks of engaging with Uptos. In October 2023, Germany’s BaFin (Federal Financial Supervisory Authority) officially stated that Uptos LTD was offering financial services without the required authorization.
The broker’s official website, uptos.com, is no longer accessible. Uptos is now regarded as a confirmed scam and is no longer in operation.
We constantly monitor the Internet for the emergence of new fraudulent schemes to deceive traders. We have been collecting data about scam brokers for more than 10 years and we think we know every dishonest company in the market. Below we have collected for you the information about the scammers from the List of SCAM Brokers.
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