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Uptrend Center review

Uptrend Center wants you to believe that it could be your “respected online trading partner”. But fact checking reveals that this is not the established forex broker it claims to be. In fact, it is a typical scam website trying to take advantage of people who are looking for passive income online but lack the necessary knowledge about financial markets. It would be a grave mistake to entrust your money to the Uptrend Center.To get more news about the uptrend center review, you can visit wikifx.com official website.

UPTREND CENTER REGULATION AND SAFETY OF FUNDS
At first glance, the Uptrend Center website may seem credible, but closer inspection reveals a big red flag. It is a complete mystery who is behind the Uptrend Center. Neither the website nor the attached Terms and Conditions mention a legal entity by name. This is completely unacceptable for any legitimate business, let alone a financial services provider.

According to the text of the Terms and Conditions, the unnamed company behind the website is based in Saint Vincent and the Grenadines.
Therefore, whoever owns the Uptrend Center is not licensed as a broker and their activities are not overseen by a regulatory body. You should only trust legitimate brokers operating in one of the established financial centres like the UK, EU, USA or Australia. There, the activities of brokers are controlled by powerful regulatory bodies such as UK’s Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Commodity Futures Trading Commission (CFTC) in US or Australian Securities and Exchanges Commission (ASIC). Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.

In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK. However, the likelihood of such a bankruptcy is low because regulators also have significant net capital requirements that companies must maintain – EUR 730 000 in UK and Cyprus, AUD 1000 000 in Australia and at least 20 million USD in the United States.
While the platform has the basic features for placing orders, customizing charts and application of technical indicators, it lacks the more advanced functionality found in the most widely used trading platforms in the industry, MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

The presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading. Many scammers have trading software to fool their victims that their money is being invested.
UPTREND CENTER TRADING CONDITIONS
The Uptrend Center does not provide a complete description of the tradable instruments and the trading conditions as one would expect from a genuine broker. On the website we find a limited description of five trading account types – Basic, Silver, Gold, Platinum and VIP.

The minimum deposit for the starter account is 250 USD. For the same or often lower amount you could use the services of a licensed broker, including many of the industry’s leading brands.According to the website, traders with a Basic account have to pay a spread of over 3 pips – double the industry average and extremely unprofitable. Only Platinum and VIP accounts provide a spread comparable to legitimate competition.

The leverage offered reaches 1:400. This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, but also increases the risk of sudden and excessive losses proportionally. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50. This maximum level only applies to trading major currency pairs, with even more limited leverage for more volatile assets.

Uptrend Center also claims to give out bonuses. This practice is banned by all leading regulators. Fraudsters often use supposedly generous bonuses to tie their victims to predatory terms. Uptrend Center is no exception, as we will see below.