UpperTrade Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-10-23 18:48

Abstract：UpperTrade offers multiple trading assets, including forex currency pairs, shares, crypto, commodities, and indices with leverage up to 1:200 and spread from 0.5 pips via MT5 and a web-based trading platform. However, the minimum deposit is as high as $250. Also, it is unregulated currently.

　　Note: UpperTrade's official website: https://uppertrade.pro is currently inaccessible normally.

UpperTradeReview Summary
Founded	2021
Registered Country/Region	Dominica
Regulation	Not regulated
Market Instruments	Forex currency pairs, shares, crypto, commodities, and indices
Demo Account	/
Leverage	Up to 1:300
Spread	From 2.0 pips (Beginner account)
Trading Platform	Web-based trading platform, MT5
Min Deposit	$250
Customer Support	Email: support@uppertrade.pro

　　UpperTrade offers multiple trading assets, including forex currency pairs, shares, crypto, commodities, and indices with leverage up to 1:200 and spread from 0.5 pips via MT5 and a web-based trading platform. However, the minimum deposit is as high as $250. Also, it is unregulated currently.

Pros and Cons

Pros	Cons
Multiple trading assets	High minimum deposit
MT5 supported	Not regulated
	Lack of transparency
	Wide spreads on the Beginner account

Is UpperTrade Legit?

　　UpperTrade is not regulated by any financial authorities. The Polish Financial Supervision Authority (KNF) shows no information about it. It means that it doesn't need to obey the rules of regulations. Traders should be cautious when choosing brokers.

What Can I Trade on UpperTrade?

Tradable Instruments	Supported
Forex currency pairs	✔
Shares	✔
Cryptos	✔
Commodities	✔
Indices	✔
Options	❌
ETFs	❌

Account Type

　　UpperTrade provides four account types: Beginner, Medium, Advanced and Professional.

Account Type	Minimum Deposit
Beginner	$250
Medium	$2000
Advanced	$5000
Professional	$25000

Leverage

　　UpperTrade's leverage varies by the accounts. The Medium and Beginner account is up to 1:300. Besides, the Advanced account is up to 1:200, and the Professional account is 1:100. Higher leverage always comes with high returnes and high losses.

Spreads and Commissions

　　The spread of UpperTrade also varies depending on the accounts. The Beginner account starts from 2.0 pips, the Medium account starts from 1.5 pips, the Advanced account starts from 1.0 pips and the Professional account starts from 0.5 pips. However, the commission is not mentioned.

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
Web-based trading platform	✔	Web	Experienced traders
MT5	✔	Desktop	Experienced traders
MT4	❌	/	Beginners

Deposit and Withdrawal

　　UpperTrade can deposit and withdraw through credit cards and various crypto assets. And the minimum deposit is $250. There are no deposit and withdrawal fees.