Is Upforex Safe or a Scam? A 2025 Safety Review Based on Facts

When choosing a forex broker, the most important question a trader should ask is, “Is my money safe?” For those looking at Upforex, this question is extremely important. Answering “Is Upforex safe or scam?” requires a careful look at facts, not marketing promises. Our complete Upforex safety review for 2025 shows serious problems that every potential investor needs to know about. The biggest and most worrying issue is that they have no valid, recognized financial regulation. This one problem is worse than all other aspects of what the broker offers. This article will give you a detailed, fact-based analysis of how Upforex operates, their regulatory status, and trading conditions to give you the information needed to make a smart and informed decision about the safety of your money.

Upforex: Key Information

To start, a quick look at the broker's main details gives immediate context. This summary shows the basic facts about Upforex, allowing for a quick first assessment of their profile. We have put this information into a clear, easy-to-scan format to highlight the most important data points.

The Critical Regulatory Issue

A broker's safety is built on a foundation of credible regulation. This is the most important section of our analysis, as it directly addresses the main trader concerns. In the case of Upforex, this foundation does not exist. Our investigation confirms that Upforex does not have any valid regulatory licenses from a reputable financial authority. This is a major red flag that cannot be overstated.

The situation gets worse because of misleading information. The company has claimed to be based in the United Kingdom and operating under the supervision of the Australian Securities and Investments Commission (ASIC). Our verification process has found these claims to be false. ASIC is one of the world's top regulators, imposing strict requirements on brokers to protect clients, including separated funds, negative balance protection, and access to a compensation scheme. By falsely claiming this license, a broker creates a false sense of security.

The reality of Upforex's corporate structure is very different. The company behind the brand, UP Global Markets Ltd – Licensed by the Financial Services Commission (FSC) Mauritius as an Investment Dealer under License No. GB25204570.

It is important for traders to understand that financial authorities in these locations do not regulate forex and CFD trading activities. Registration in these locations is often a simple, low-cost process that provides a legal shell but offers no real oversight or investor protection.

What does this lack of regulation mean for you as a trader?

• No Client Fund Protection: Regulated brokers are required to keep client funds in separated bank accounts, separate from the company's operational funds. This ensures that if the broker becomes insolvent, your money is protected. With an unregulated broker like Upforex, there is no such guarantee. Your funds could be mixed with company assets and used for any purpose, putting them at extreme risk.

• No Negative Balance Protection: Top-tier regulators require that retail clients cannot lose more than the money in their account. Unregulated brokers have no obligation to offer this protection, meaning a volatile market event could leave you owing money to the broker.

• No Legal Options: If you have a dispute with a regulated broker regarding a trade, withdrawal, or any other issue, you can file a complaint with the regulatory body or an independent ombudsman service. These bodies have the power to investigate and enforce a binding resolution. With an unregulated offshore entity, you have virtually no legal options to recover your funds if the broker acts improperly or simply disappears.

Given these facts, the regulatory status of Upforex presents an unacceptable level of risk for any serious trader. For the most current regulatory status and detailed verification of any broker, traders should always check their profile; a complete overview of Upforex's licensing information and any updates can be seen on the comprehensive database on WikiFX.

A Look at Trading Conditions

While regulation is the primary factor of safety, it is also important to objectively evaluate the trading environment a broker offers. Understanding the account types, leverage, and costs provides insight into the practical experience of trading with Upforex. We present this data neutrally, noting where information is unclear or potentially disadvantageous. Please note that the following information, particularly concerning spreads, is based on available data and demo account observations, which may not perfectly reflect live trading conditions.

Account Types and Deposit

Upforex appears to offer a tiered account structure, which is common in the industry. The known account types are:

• Standard

• Pro-ECN

• Elite-ECN

A significant point of concern is the entry barrier for what seems to be their primary ECN account. The minimum deposit for the Pro-ECN account is listed as $1,000. This is much higher than the industry standard, where many reputable, well-regulated brokers offer ECN-style accounts for $5000, and standard accounts can often be opened with $100 or

Furthermore, the broker's website does not provide clear information on the minimum deposit required for the Standard or Elite-ECN accounts. This lack of transparency is a problem, as potential clients cannot easily assess the initial capital required to start trading. A transparent broker provides this basic information upfront.

Leverage, Spreads, and Commissions

Leverage, spreads, and commissions are the core costs and risks associated with trading. Here is what we found regarding Upforex:

• Spreads: As observed on a demo account, the benchmark EUR/USD spread fluctuated around 1.0 pips. On the surface, this appears competitive and in line with what one might expect from a standard account. However, we must issue a strong warning: demo account conditions are often optimized and may not accurately represent the spreads, slippage, and execution speed on a live, funded account. Without verification on a live server, this figure should be treated with caution.

• Leverage: The information on leverage is slightly inconsistent. While one account type shows a maximum leverage of up to 1:300, other information suggests a cap of 1:100. Regardless of the exact figure, it's important to understand that high leverage is a double-edged sword. While it can amplify potential profits from a small initial investment, it equally amplifies losses. A small market movement against your position can result in a rapid and total loss of your trading capital. Unregulated brokers often offer high leverage as a marketing tool to attract inexperienced traders who may not fully understand the immense risk involved.

• Commissions: For the Pro-ECN account, a commission of $7 per round lot is charged. This is a relatively standard commission structure for an ECN-type account, where traders get access to tighter raw spreads in exchange for a fixed commission per trade. When combined with a spread, the total cost of trading must be calculated to compare it fairly with other brokers.

Available Trading Instruments

A broker's product range determines the markets a trader can access. Upforex provides a seemingly broad array of trading instruments. This diversity allows for portfolio diversification and access to various market opportunities. The available asset classes include:

• Forex: Over 30 currency pairs, including majors, minors, and a selection of exotic currencies like the Singapore Dollar (SGD), Mexican Peso (MXN), and Norwegian Krone (NOK).

• Metals: Typically includes gold and silver priced against the US dollar.

• Futures: Contracts for future delivery of assets.

• Shares: CFDs on global stocks.

• Cash CFDs & Indices: CFDs on major global stock indices.

• Commodities: CFDs on energies like oil and agricultural products.

• Cryptocurrencies: CFDs on popular digital currencies.

While this is a comprehensive list, the breadth of available instruments does not, in any way, make up for the fundamental lack of safety and regulatory oversight. The most diverse product offering in the world is meaningless if the broker holding your funds is not trustworthy.

Platform and Payments Analysis

Beyond trading conditions, the operational infrastructure of a broker is a critical part of the user experience. This includes the trading software provided and, more importantly, the processes for depositing and withdrawing funds. Our analysis of Upforex's platform and payment systems reveals further weaknesses and potential problems for traders.

Trading Platform

Upforex does not offer the globally recognized MetaTrader 5 (MT5) platform. Instead, it provides a proprietary web-based trading solution. While web-based platforms offer the convenience of access from any browser without requiring a software download.

Our review of the Upforex platform indicates that it is a basic solution that lacks many of the advanced features serious traders rely on. Standard tools for in-depth technical analysis, support for automated trading strategies (Expert Advisors or EAs), and extensive customization options, which are hallmarks of the MT5 platform, are reportedly absent. For any trader who relies on sophisticated charting tools, custom indicators, or automated systems, this platform would likely be a significant hindrance to their trading activities.

Payment Methods and Fees

The process of moving money into and out of a trading account should be secure, efficient, and cost-effective. The payment system at Upforex presents several significant problems.

The selection of payment methods is notably limited. Clients can only use:

• VISA / MasterCard

• Bank/Wire Transfer

• Bitcoin

The absence of popular and convenient e-wallets like Skrill, Neteller, or PayPal is a major disadvantage. Many traders worldwide prefer these methods for their speed and low transaction costs.

More alarmingly, Upforex charges fees on both deposits and withdrawals, which is a highly uncompetitive practice. Most reputable brokers absorb deposit fees and offer at least one free withdrawal method per month. The fee structure at Upforex imposes a direct cost on clients simply for moving their own money.

These fees can significantly eat into trading profits or add to losses over time. A 1.5% fee on a $5,000 deposit is $75, and another fee would be applied upon withdrawal. This practice is a clear red flag and places the broker far outside of competitive industry norms. It is important to note that fee structures can change without notice. For a comprehensive and up-to-date breakdown of all associated costs, users are encouraged to review the detailed profile for any broker, including Upforex, on a trusted platform like WikiFX.

Critical Risk Assessment

To provide a clear and actionable summary, we have combined all the major concerns identified during our review into a definitive list of red flags. This serves as a critical risk checklist for anyone considering depositing funds with Upforex.

1. No Valid Regulation: This is the most severe red flag. The broker operates in a regulatory vacuum, outside the oversight of any credible financial authority, meaning there is no protection for your funds.

2. False Regulatory Claims: The broker has been found to be misleadingly claiming regulation from top-tier authorities like ASIC and a base in the UK, which is factually incorrect. This demonstrates a clear intent to deceive potential clients.

3. Offshore Registration: Its registration in Saint Lucia, a location that does not regulate forex brokers, is a classic tactic used by high-risk operations to avoid scrutiny and accountability.

4. High-Risk Warning & Low Score: The broker is officially assessed as a high-risk entity with an extremely low trust score of 1.57 out of 10. This numerical rating reflects a consensus of high risk based on factual data.

5. Costly and Restrictive Payments: Charging fees on both deposits and withdrawals is an anti-consumer practice. The limited payment options further add to the inconvenience and cost for traders.

6. Poor Trading Platform: The lack of an industry-standard platform like MT4 and the provision of a basic web trader with limited features hinder the ability of traders to perform proper analysis and execute strategies effectively.

7. High Entry Barrier: A minimum deposit of $1,000 for its main ECN account is significantly higher than the industry average, especially for an unregulated entity, creating a high barrier to entry without offering a corresponding level of security.

The Verdict on Safety

Returning to our initial question: Is Upforex safe or scam? Based on the overwhelming evidence gathered in our 2025 review, Upforex cannot be considered a safe broker for your investment. The complete absence of valid regulation is a non-negotiable deal-breaker. This, combined with false regulatory claims, offshore registration, and punitive fee structures, paints a clear picture of a high-risk operation.

While the broker may offer a range of markets and seemingly acceptable spreads on a demo account, these factors are made irrelevant by the fundamental lack of security and trustworthiness. The risk of encountering issues with withdrawals, unfair trading conditions, or the outright loss of your entire deposit is unacceptably high. We strongly advise extreme caution and recommend that traders prioritize safety and regulation above all else.

When evaluating any broker, not just Upforex, verifying their regulatory credentials with a reputable authority is the single most important step you can take. You can perform this crucial check for thousands of brokers using the comprehensive database on WikiFX to ensure you are dealing with a legitimate and supervised entity before committing any capital.

Join official Broker community! Now

You can join the group by scanning the QR code below.

Benefits of Joining This Group

1. Connect with passionate traders – Be part of a small, active community of like-minded investors.

2. Exclusive competitions and contests – Participate in fun trading challenges with exciting rewards.

3. Stay updated – Get the latest daily market news, broker updates, and insights shared within the group.

4. Learn and share – Exchange trading ideas, strategies, and experiences with fellow members.