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Danger Signal of 'Upfront Fx Trade' You Need to Beware

2024-05-23 Brokersview

Danger Signal of 'Upfront Fx Trade' You Need to Beware

BrokersView repeatedly emphasizes that no matter how attractive the trading conditions promised by a financial company are, an exhaustive investigation of the company is essential. If a broker is not authorized by any financial regulator, the best promises are just bubbles that will always burst.


When visiting Upfront Fx Trade’s website, pop-ups at the corner of the webpage keep telling visitors about the client's successful withdrawal, so frequently that one can not even read the text on them. It’s as if the broker is shouting, "Look! So many people are making money with us!"


However, such a pop-up is not convincing, after all, whether the withdrawals are processed or the broker is reliable can not be proved by a little pop-up. The regulatory status is the point.


According to the information provided on Upfront Fx Trade's website, the broker claims to be under the supervision of four financial regulators, including CySEC (Cyprus), BaFin (Germany), FSC (Mauritius), and FSA (Seychelles), which, upon checking, are false, as none of these regulators' portals record a regulated entity named "Upfront Fx Trade".


Self-claimed regulatory information of Upfront Fx Trade


No records can be found on the regulators' portals


At the end of last year, the UK financial regulator, the FCA, issued a warning stating that Upfront Fx Trade was an "unauthorized firm", which implied that the broker was selling its services to UK investors.


FCA warning


Without authorization from any regulatory body, there is no way to prove that the broker is providing adequate protection for client funds. No matter how you look at it, Upfront Fx Trade is not a good choice.


An Upfront Fx Trade client told us about his bad experience with this company.


User Rahul expressed his dissatisfaction with Upfront Fx Trade at BrokersView, stating that he lost $9,000 due to this company. He just wanted to withdraw the money from his trading account, but the other party was very obstructive and kept trying to delay. In the end, the client was not able to withdraw his money.


A complaint against Upfront Fx Trade


The importance of the withdrawal to investors cannot be overstated. Trading conditions are excellent? The trading is successful? If the hard-earned profits can not really be given to clients, they are all empty words.