UTrade – Broker Review


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Caution Investors UTrade – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements.


UTrade is a company that provides algorithmic trading solutions for various financial markets. It claims to use advanced technology and artificial intelligence to generate consistent profits for its clients. UTrade offers different types of accounts, such as standard, premium, VIP, and platinum, with varying minimum deposits and fees. UTrade also claims to have a team of experts who provide guidance and support to its customers.

Regulation and Compliance:

One of the biggest red flags about UTrade is that it is not regulated by any reputable authority. UTrade operates under the name of UT Markets Ltd, which is registered in St. Vincent and the Grenadines, a notorious offshore jurisdiction for shady businesses. UTrade does not have a license from any financial regulator, such as the FCA in the UK, the ASIC in Australia, or the CySEC in Cyprus. This means that UTrade does not comply with any rules or standards that protect investors’ rights and interests. UTrade is also not a member of any compensation scheme that would cover losses in case of insolvency or fraud.

Customer Reviews:

Another warning sign about UTrade is the negative feedback from its customers. Many online reviews and complaints accuse UTrade of being a scam and a Ponzi scheme. Some of the common issues reported by UTrade’s clients are:

– Difficulty in withdrawing funds or closing accounts

– High-pressure sales tactics and false promises

– Manipulation of trading results and account balances

– Unauthorized charges and hidden fees

– Harassment and threats from UTrade’s representatives

Products and Services:

UTrade claims to offer a variety of products and services for algorithmic trading, such as:

– Forex: UTrade claims to provide access to over 50 currency pairs with low spreads and high leverage.

– Stocks: UTrade claims to offer trading on over 1000 global stocks with competitive commissions and dividends.

– Indices: UTrade claims to enable trading on major indices, such as the S&P 500, the FTSE 100, and the DAX 30, with low margins and fast execution.

– Commodities: UTrade claims to allow trading on various commodities, such as gold, silver, oil, and natural gas, with flexible contracts and low fees.

– Cryptocurrencies: UTrade claims to support trading on popular cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and Ripple, with high volatility and liquidity.

However, these products and services are not verified or endorsed by any reputable source. UTrade does not provide any proof or evidence of its trading performance or results. UTrade also does not disclose any information about its trading platform, software, algorithms, or technology.


UTrade’s website does not provide any clear or reliable information about its location or contact details. The only address given on the website is a PO Box in St. Vincent and the Grenadines, which is not a physical location. The only phone number given on the website is a UK number, which does not match the company’s registration country. The only email address given on the website is a generic one that does not indicate any domain name or identity.

Customer Service:

UTrade’s customer service is also very poor and unprofessional. Many customers report that UTrade’s representatives are rude, aggressive, and unresponsive. UTrade’s customer service does not provide any helpful or satisfactory answers to customers’ queries or issues. UTrade’s customer service also does not respect customers’ privacy or security. UTrade’s customer service often asks for personal or financial information that is not relevant or necessary for resolving problems.

Is Your Money Safe in an unregulated company?

The answer is no. Your money is not safe in an unregulated company like UTrade. When you deposit money with an unregulated company, you are exposing yourself to many risks and dangers. Some of these risks are:

– You have no legal protection or recourse if the company goes bankrupt or disappears with your money.

– You have no guarantee that the company will honor your withdrawal requests or pay you your profits.

– You have no assurance that the company will follow fair and ethical practices in its trading operations.

– You have no way of verifying or auditing the company’s financial statements or records.

– You have no access to any independent or impartial dispute resolution mechanism if you have any conflicts or complaints with the company.

Defensive Measures Against Fraudulent Brokers:

If you want to avoid falling victim to fraudulent brokers like UTrade, you should take some defensive measures before choosing a trading partner. Some of these measures are:

– Do your research: Check the background and reputation of the company you are considering. Look for reviews, testimonials, ratings, and feedback from other customers. Look for evidence of regulation, licensing, and compliance from reputable authorities. Look for transparency and accountability in the company’s policies, terms, and conditions.

– Be cautious: Do not trust any company that promises unrealistic or guaranteed returns on your investments. Do not trust any company that pressures you to deposit more money or to upgrade your account. Do not trust any company that does not provide clear and reliable information about its location, contact details, or trading platform.

– Be vigilant: Monitor your trading account and transactions regularly. Keep track of your profits and losses. Keep records of your communications and agreements with the company. Report any suspicious or fraudulent activity to the relevant authorities.



UTrade is an algo trading company that is not regulated by any authority and has been involved in several lawsuits. UTrade’s products, services, customer reviews, regulation, compliance, and safety are all questionable and unreliable. UTrade is a risky and dangerous company that you should avoid at all costs. If you are looking for a trustworthy and reputable algo trading partner, you should look elsewhere.