I heard about some bad news about this broker, is it not quite safe for trading?

https://upfxtrade.com/   

UPFX is an unlicensed broker and should be avoided at all events. UPFX tries to mislead investors into thinking it is a legitimate brokerage. This broker claims to a limited liability company established in Belize as an operating subsidiary within the Lepanto Group of companies (collectively "Ultimate Pinnacle") under registration No.173474, but we didn't find any results in the registers of Belize's International Financial Services Commission (IFSC).

Except for offering misleading information, the fraud also makes some untrue claims to regulation, claiming to be licensed in some of global regulators. More specifically, UPFX is supposedly a multi-regulated broker with licenses issued by the IFSC(the Belize) with registration number 173474, CySEC (Cyprus), ASIC (Australia) with ACN number 072 424 830, and NFA (America) with registration number 0537666. However, none of these "claimed" licenses could be found from relevant watchdogs. So UPFX is actually not overseen by any financial regulator.

As per the evidences above, our final conclusion is that UPFX is thoroughly a scam on account of running its business without any relevant license approved by a reputable regulator. Therefore, we would recommend traders to stay away from unregulated brokers and trade with licensed brokers.