General Information
Up4profit claims to be an online trading platform registered in an unknown area, providing clients access to a series of trading instruments, such as Forex, Stocks, Commodities, Digital Currencies, Indices with the leverage up to 1:500. Up4profit offers clients the flexibility to choose from multiple trading accounts, with the minimum deposit to get started from 250 euros.
Up4profit is not subject to any regulation to operate illegally. And thats why WikiFX has given this broker a very low score of 1.10/10. Please be aware of the risk.
Market Instruments
According to Up4profit, four classes of trading assets covering Forex, Stocks, Indices, Digital Currencies are provided for clients who wants to display their trading ability.
Account Types
Starter, Premium, Premium Plus, Business, Luxury, as well as Black Pearl accounts are available options for both retail and professional clients. The minimum deposit amount specifies the account type, with the Starter account from 250 euros, the Premium account from 2,500 euros, the Premium Plus account from 25,000 euros, the Business accounts from 50,000 euros, the Luxury account from 75,000 euros, and the Black Pearl accounts from 100,000 euros.
Spreads & Commissions
Trading accounts set spreads and commissions. Typically, the more expensive account you hold, the narrower spreads you can get. However, this broker seems to act in a converse way: spreads offered by Starter accounts from 0.4 pips, yet spreads on the Black Pearl accounts starting at 1.5 pips, which is quite baffling.
Leverage
Trading leverage varies depending on trading accounts, ranging from 1:100 to11:500, which is greater than the levels regarded appropriate by many regulators, with the maximum leverage for major currencies up to 1:30 in Europe and Australia, and 1:50 in the United States and Canada.
Since leverage can amplify both gains and losses, it can result in devastating losses for investors who lack experience. If you're just starting out in the trading world, it's best to stick with the lower size, no more than a 1:10.
Trading Platform
What Up4profit provides is not the MT4 or MT5 trading platform, a Webtrader instead. Up4profit
Webtrader is said to enable trading in various markets, various assets through one account. This web-based platform suits the needs and requests of different clients.
Payment Methods
The minimum deposit is 250 euros, and clients can make a deposit through limited payment methods, including MasterCard, Maestro, Bank Wire, Bitcoin.
Trading Tools
Clients can reach some trading tools, including trading analysis, trading strategies, trading plan, economic calendar, financial news, as well as live date tables.
Customer Support
Up4profit says it is available from Monday to Friday, 8 a.m. to 6.p.m, but they can only be reached through an email: support@up4profit.net.
Risk Warning
Trading leveraged products such as forex, cryptocurrencies and derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that your fully understand the risks involved, taking into account your investments objectives and level of experience.
The information presented in this article is intended solely for reference purposes.
Pros & Cons
Frequently Asked Questions
What items can I trade with on Up4profit？
Up4profit offers access to VISA, MasterCard, Maestro, Bitcoin, Wire Transfer.
What is the minimum deposits required by Up4profit？
The minimum deposit required is 250 euros.
What is the maximum trading leverage offered by Up4profit？
The maximum trading leverage offered by Up4profit is up to 1:500.
