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UpSideStake

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Operating status: SCAM

Website: https://www.upsidestake.com/

Broker violations and abnormal records
  • 2022-10-30 BrokersView has Reviewed that UpSideStake is an Unregulated Forex Broker

    UpSideStake is not a reliable broker for traders even though it states offers that look good to be true. UpSideStake claims to be a reliable firm while presenting no details about its regulations. Lacking regulatory information may be a distinct characteristic of unlicensed brokers, as legit brokers always present their certificates and licenses in a prominent position. It is a red flag here.

    Besides, UpSideStake shows its company address is in the United States. As per United States law, US residents and citizens are only permitted to operate with CTFC- and NFA-regulated forex brokers. Firms and individuals, who need to possess the relevant regulations issued by the National Futures Association (NFA) or the Commodity Futures Trading Commission (CFTC), will be allowed to solicit or approach US citizens. However, we did not find any match results to UpSideStake in the above two regulatory bodies. 

    The truth is, UpSideStake is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

    UpSideStake is not a reliable broker for traders even though it states offers that look good to be true. UpSideStake claims to be a reliable firm while presenting no details about its regulations. Lacking regulatory information may be a distinct characteristic of unlicensed brokers, as legit brokers always present their certificates and licenses in a prominent position. It is a red flag here.Besides, UpSideStake shows its company address is in the United States. As per United States law, US residents and citizens are only permitted to operate with CTFC- and NFA-regulated forex brokers. Firms and individuals, who need to possess the relevant regulations issued by the National Futures Association (NFA) or the Commodity Futures Trading Commission (CFTC), will be allowed to solicit or approach US citizens. However, we did not find any match results to UpSideStake in the above two regulatory bodies. The truth is, UpSideStake is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

Related Complaints

Q&A

Do I need to deposit a demo account?

Carsten Carsten
Reunion
2022-11-08
ANSWER UpSideStake is not a licensed or regulated broker even though it states offers that look good to be true. UpSideStake claims to be a reliable firm while presenting no details about its regulations. Lacking regulatory information may be a distinct characteristic of unlicensed brokers, as legit brokers always present their certificates and licenses in a prominent position. It is a red flag here.Besides, UpSideStake shows its company address is in the United States. As per United States law, US residents and citizens are only permitted to operate with CTFC- and NFA-regulated forex brokers. Firms and individuals, who need to possess the relevant regulations issued by the National Futures Association (NFA) or the Commodity Futures Trading Commission (CFTC), will be allowed to solicit or approach US citizens. However, we did not find any match results to UpSideStake in the above two regulatory bodies. The truth is, UpSideStake is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like UpSideStake and trade with licensed brokers.
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