Uprofit Trader is an unregulated and unlicensed broker based in the US. It’s pretty interesting to see a broker selling financial services in the USA without having the necessary regulations.
The company markets itself as Futures markets trading service.
Their office is located in Texas but there is no contact number available on the website. Instead, you can only get in touch through email.
It claims to be a unique broker with its unique Uprofit 9K, Uprofit 50K and other account types.
However, that’s all on paper. When you look at Uprofit Trader reviews, you would notice that many of their customers are unable to make withdrawals.
In this review, I have gone through the various reasons why this company is not reliable and why you should avoid dealing with them at all costs:
What is Uprofit Trader?
UProfit is a Futures broker which allows customers trade various Futures products including COMEX, CBOT, CME and NYMEX.
The signup of the company is rather simple. They ask for your personal contact information and to choose a particular account size.
The company makes you go through a unique evaluation process where you must make a specific amount of profit before you can get their live account.
You can choose from the following account types:
Uprofit 9K (The Basic Program):
The Uprofit 9K account requires you to pay $89 per month. You get a maximum 5 contracts and $800 pro drawdown. The minimum duration you need to trade in this program is 10. There’s a daily loss limit of $350.
To progress further, you would need to reach the target profit of $900.
Uprofit 50K (The Advanced Program):
This account requires you to pay a monthly fee of $160. You get a minimum of 10 trading days, a daily loss limit of $1,100, 6 maximum contracts and $2,000 pro drawdown.
The targeted profit of this account is $2,500.
Uprofit 100K (The Elite Program):
The Elite Program requires you to spend $315 per month. It has 12 maximum contracts, a daily loss limit of $2,200, $3,000 pro drawdown and a minimum of 10 trading days.
The target profit of this account is $6,000.
Uprofit 200K (The Premium Program):
This is an exclusive account type and the company charges $500 per month for its access. It offers 20 maximum contracts, a daily loss limit of $4,000, $5,000 pro drawdown and a minimum trading days limit of 10.
Your target profit here would be $10,000.
After you have reached the target profit with your chosen account type, the company will give you access to its live account.
Certainly, Uprofit Trader looks quite interesting and attractive on paper. But there are too many red flags it hides from most clients.
Is Uprofit Trader Legit?
No. Uprofit Trader is not a legit broker. The company doesn’t have a license and is an unregulated broker.
Furthermore, there are a ton of complaints online highlighting the shady nature of hte company and why it’s a scam.
Before you choose to invest your money with this broker, you must read the complaints I have shared in this Uprofit Trader review:
Uprofit Trader Review: What Its Customers Say About the Process
This is a detailed review from a customer about how Uprofit conducts its review and how terrible it is.
He highlights that the experience turned bad because everything went smoothly at first. The company performed the review properly and put him through the necessary steps to get a live account.
However, as soon as that happened, everything went downhill.
The reviewer points out that the company is very cunning. He says they only let you in to make a fool out of you.
Everyone in the company has a different take on what does what. For example, some Uprofit Trader members say that you can continue trading after breaking the soft rule (using more contracts than permitted, etc.). Others say that you can’t and your account will be frozen if you do so.
On the other hand, some staff members will tell you that they perform a reset and it works. Others say they don’t.
The reviewer points out that if you think the company is great, you’re mistaken. That’s because you will soon realize the truth yourself.
Uprofit doesn’t tell you when you’re going in the wrong direction. Instead, they block your account suddenly and tell you that you broke one of their rules.
The author of this Uprofit Trader review paid for a reset and the company told him that he would be able to trade in some time. However, he has been waiting for 2 weeks and nothing has come into fruition.
When the reviewer contacted the customer support staff, the first rep said nothing would work because he broke a rule. The reviewer asked the representative to reconsider his case because he wasn’t aware he was breaking a rule.
After a few more calls, the representatives agreed to reset and he paid the fees. However, when he called afterwards, Uprofit customer support told him that the reset wouldn’t work as well.
Now, the reviewer was done. He got mad so the representative asked him to wait for a while because he “might” try to make it work.
“Uprofit Staff will give you different responses on your questions and never help you get a refund”
The reviewer points out that the representative is still “trying”.
After waiting for a few days, he contacted the company and asked for a refund. In response, Uprofit Trader staff told him that issuing a refund is against company policy so they can’t.
Also, the reviewer wanted to withdraw funds from his online trading account. His withdrawal request didn’t go through despite the company’s claims that customers can cancel whenever they want.
When the reviewer contacted the company to find out the cause of the delay, they told him to wait.
A week later, they told him that because of some rules, he couldn’t withdraw for some time. However, there was no mention of any such rules on their website or documentation.
They told him to wait further.
Moreover, the reviewer had to call the staff multiple times because he needed the funds urgently. According to the reviewer, the staff here doesn’t listen.
He says the company first shows you how amazing it is. It sorts out your application quickly and helps you in every step of the sign up process.
However, once you have invested your hard-earned money, they start showing their true colors.
In the conclusion of his Uprofit Trader review, he says you should find other service providers because this company is full of lies and tricks. In the end, you would end up losing your money and time.
Furthermore, he points out that it’s very frustrating to call their staff and get contradicting responses.
The reviewer doesn’t recommend Uprofit Trader.
Uprofit Trader Reviews and Complaints You Must Read:
The reason why I wrote this Uprofit Trader review is the large number of complaints I found on this company.
Apparently, the reviewer I mentioned above wasn’t the only person who feels scammed by this company. There are tons of victims who have lost their money because of Uprofit.
Here are some of the many complaints I found about this broker:
“Uprofit Trader Hides Its Rules to Stop You From Making Withdrawals”
Hasan shares that Uprofit Trader is a scam company and very misleading. The rules they advertise on their website are completely different from what rules they follow.
They don’t mention all the rules on their contract. Instead, they are mentioned briefly on their FAQ link.
He had signed up for the Uprofit 200K account, passed it and paid the company for opening his live account.
However, when he started his live account, he found that he can only trade 3 contracts or 30 Micros.
He couldn’t even scalp a trade for less than 10 seconds and there was a violation. Basically, the reviewer says Uprofit Trader has kept these hidden rules only to prevent clients from withdrawing funds from their accounts.
The reviewer questions how the company markets to offer 17 contracts maximum but only allows 3. Apparently, the number of available contracts increases as your account balance goes up.
The reviewer says it is false advertising. Moreover, he adds that the company is taking innocent people’s money, especially on resets.
Now, the reviewer is planning on filing a lawsuit against this company with the help of his lawyer. Also, he points out that the customer support of Uprofit Trader is extremely unhelpful. He ends the review by calling it a “Scam Company”.
Another Uprofit Trader Review Exposes the Shady Nature of This Broker:
Gary starts his review by saying that he believes that the company cares about its traders.
However, he was shocked to receive a disappointing response from the company’s representative.
He has traded for 11 days and when he reached his profit target, the company informed him that he violated his daily draw down over a week ago. Although he had violated a rule, they had let him keep on trading.
Still, because he violated the daily drawdown limit by $15, he was no longer eligible.
The reviewer points out that his dashboard never said he violated any rules. Also, the company never informed him of violating these rules. They only told him about the violation when he tried to get approval for live trading.
After Gary posted his Uprofit Trader review, he received a response from the company. Basically, it said that the dashboard is only for “informational use” and the trader must be aware of the rules themselves to avoid breaching them.
Gary says it was a very disappointing response. He thought they cared about the traders but the response indicates they really don’t.
The representative told him that the dashboard is for “informational use”, which seems like a shady answer to the reviewer. Before, when he violated any rules, the company sent him an email stating that a rule had been broken.
However, he didn’t receive any such emails for this account. He hopes to get in touch with upper management of the company to resolve the problem.
“Uprofit Trader Has the Worst Customer Support”
Matt shares that he is facing a problem with his 50k evaluation. His account balance and trading days aren’t updating on the software. Due to this, the system has now detected that he has reached the drawdown limit.
So, Matt is now unable to trade further.
He reached out to the customer support and explained his problem. The staff agreed that there was an issue. Later, he received an email saying that they had edited his account to bring it up to date.
Also, they told him that he can now resume trading.
However, when he tried to trade the next day, the issues were still there and he was unable to trade.
Again, he contacted the customer support and explained that the problem is still there. Later, he received the same reply stating that they had made the necessary adjustments and he can resume trading.
The issue was not fixed.
He has sent them multiple emails asking them what is happening and if they can actually fix his account. However, it seems to Matt that Uprofit Trader has begun ignoring him as he hasn’t received any reply.
Clients Feel Used by Uprofit Trader, Doesn’t Recommend Trading with Them
Max points out that he is extremely upset with the company. He funded the account on 19 October but had to stop due to some health problems.
After he surpassed the 3k target profit requirement, the company told him on November 18 that he had breached a minimum trading days rule 3 weeks ago. So, the company was now closing his account.
Max points out that instead of closing his account when it didn’t have any money, they waited until he added more money to it.
He asked them to make an exception in his case but it didn’t help. Also, Max says that it would have been better if they took the action when he broke the rule and didn’t wait for him to add funds to it.
Later, Max added an update on his Uprofit Trader review. He highlights that nobody in the company is taking any responsibility for the situation and they are putting all the blame on him.
Additional Uprofit Trader Reviews and Complaints:
Conclusion
After going through the above reviews and points, it’s clear that Uprofit Trader is a shady broker. It uses hidden rules and shady tactics to steal funds from its customers.
Furthermore, the company doesn’t have the license to operate as a legitimate forex broker in the US.
All of this suggests that you should stay miles away from this broker.
There are plenty of similar scams operating in the market. For example, FXRevenues is a shady forex broker which has received warnings from multiple financial regulators for being an illegal scam.
Similarly, there is the Forex CashPower Indicator. That company utilizes fake reviews to promote itself. That’s why I didn’t focus on the positive reviews of Uprofit Trader. It’s very easy for scammers to get fake 5-star reviews on their profiles. Another similar scam is Tiger Trade Copy, abusing fake reviews to promote itself and get clients.
Beware of this scam.
This article is so misleading and biased. You judge a company with 4.8 stars on Trustpilot by only adding the negative comments. Some of these comments doesn’t even make sense. The company doesn’t have a call center or support by phone and one of the reviews says they called the company?
All the backlinks are completely unrelated, and the information shared in it outdated.
I took the time to read this as my experience over 3 years with the company has been quite smooth and I’m quite surprised by this really poor written piece that I have no idea how I even found it.
Nonsense.
It doesn’t mean that if you have a positive experience with them, others will as well.
You must conduct proper research, then you can know about them.
I had a very awful encounter with them. The salesperson over there was unable to clear my doubts and started convincing me to render their services.
I’m still receiving the email from the Uprofit, for enrolling into their bogus services. ????
Dealing with them is a bad idea.
They blocked my funds. I was unable to withdraw my funds when I contacted their so-called customer service. They told me that there was some server issue, and when the issue would be fixed they informed me through e-mail. I’m still waiting for their mail.
I really thank the authors for exposing Uprofit Trader, this article is a great help for the victims.
It is all about transparency, as there are many legitimate brokers, who care about their clients. But after reading this article I believe Uprofit Trader’s tactics are as transparent as a brick wall.
Do your proper RESEARCH, otherwise, You have to face some BIG LOSSES like me. Stay Away from them.
Unprofessional staff, poor communication skills and it is very hard to deal with!
Stay away from them they are only here to deceive people.
It’s depressing when you are unaware that you are dealing with the wrong company.
Why do these brokerage firms not understand that it is very difficult for the person they lost their money in the scam?
WARNING FOR CONSUMERS. If you really care about hard-earned money and want to earn more then don’t visit this platform.
Uprofit is only created to deceive newbies and naive people who just started their journey into investments.
It’s funny because dealing with Uprofit Trading is like dancing in the dark and you are unaware of where your funds are gone. ????????????
If you believe that Uprofit is the best Forex broker and it helps you to build great financial plans, then sorry to say that you are wrong my friend.
This platform is just giving the bogus services to the people and nothing else. I had to bear heavy losses.
There are many other options available in the market and I don’t believe that going with the Uprofit would be the better choice.
Uprofit is not a legitimate Forex broker website, the whole website had ruined my life. I lost all my money.????????????
Terrible Customer Service. Not letting me withdraw my money. They need to work on their communication skills.
Opting for financial services is a very crucial decision! U should take your move for further steps.
Dealing with brokers is not as simple as people believe. It takes time to understand the market conditions and other factors.
What they told me on phone calls, and what they are offering to me was different. I was shocked and unable to withdraw my money.
Don’t let these shady brokers fool you, always beware of these platforms.
Honestly, I’m not sure about how the entire system works but while reading this article I’m able to understand how the entire scams work.
The regulatory authority of the state needs to strict actions against them.
I finally got someone who exposed Uprofit. I had to suffer multiple losses while dealing with them.
There are many unreliable broker firms whose main intention is to mislead investors and earn money by making false promises and doing fraudulent practices.
No play with your hard-earned money, always do proper research before making an investment decision. Always keep in mind to say no to these shady brokers!
At last, the choice is yours where you can go with the Uprofit or some other reliable platforms. Protect your investment.
I don’t care about what others are saying, I will undoubtedly go with them.
I believe Uprofit Trader’s deceptive tactics ruin the lives of many victims.
The associates of Uprofit are very helpful as you will mail them with your problems and the solution will be with you in a couple of hours.
My experience was rather smooth, I never faced any issues related to withdrawals, and special thanks to the UProfit associates for helping with all the problems every time.
The conditions which the company made us fulfill before trading was different after the day my account got blocked and made me read the policy again where no such claims were present when we joined for the first time.
Uprofit Trader sometimes takes a lot of time in responding, like the problem I suffered was my account got blocked due to some violations which I made, but then the company took months to unblock the account.
Everything is legitimate with Uprofit but the process of withdrawals isn’t fair enough because the minimum limit of withdrawal is $300 which is higher as compared to other firms. Otherwise, the transaction process is smooth, and also the behavior of the members is pleasant.
The main issue I faced while trading with them was they scammed me by changing some minor policy rules and made my account get closed, claiming that I didn’t follow the norms which caused them to block my account. This was good to happen because I was planning to change the platform as they were getting complicated.
Uprofit is probably the biggest scam in the forex industry. They are so smart about it too. I was shocked when I realized they made a fool outta me. I had even recommended them to a few friends of mine.
If you try to withdraw your funds a pop-up message will be displayed claiming that you didn’t follow the norms which led to getting your account blocked. This was seriously the moment where I lost my cool and changed the firm.
My experience was as one of the reviewers, where I was also withdrawing my money from the account which was successfully going until I found that my account had been frozen without any warning or message. After mailing the company I found that I had broken some rules which resulted in this trap. Then they asked me to submit the penalty fee for getting my account activated again which was pre-planned and a part of the scam. Till now I haven’t got a reply from the company.
You’d think if a forex broker is based in the US of A it would be licensed and fully regulated. But no, you’d be wrong.
I made that mistake and I hate myself for it. Uprofit Trader has stolen $3500 from me. They have some of the worst customer support you would ever see.
The company services are quite friendly until you violate some rules and get your account blocked, after that, you will not be able to get a reply from the associates for a month or more.
Christmas was coming so I was searching for some investment plans to earn some profit. I found this company where they promised of providing heavy returns which looked legitimate so I invested $4000 from which I was planning to make $10000 to $15000 according to their assurances but after a few months it is looking difficult, now I am planning to celebrate Christmas with a bottle of beer and pancakes.
The problem which occurred while trading with Uprofit was they displayed a message of violation which means you have broken some policy rules which will tend to block your account and not be permitted to withdraw your funds. This made me upset and I mailed the associates for help but it took a month to receive the feedback.
These online schemes suck because the people who are running these are filled with greed for money, and the easy way of earning money is to steal their money while sitting in some corner.
The requirements they placed were astonishing even after passing all the conditions of the contract, they responded to my mail after a long time placing the condition to alter my review otherwise no payments will be provided for my deposit.
Took my funds…left me in the dark for weeks…I really don’t know what to say. These guys are clearly a bunch of scammers. I should have known better, they seemed too good to be true.
My brother was excited about investing in online investment schemes but his mindset was completely changed after investing in Uprofit where he faced losses and got scammed in the end, this company is nothing more than a scam.
I regret signing here. I am in dire need of those funds. They have disabled my account and are not letting me know the reason. Whyyy did do this to a client uprofit??
Never trust this nefarious site as the owner is an MF, they mislead their users with fake advertisements and also irritate their users by freezing their accounts, excusing them by giving shitty answers like you broke some company rules, and blah blah. Fuc# you Uprofit.
I am still waiting for my frozen account to get activated again and get back my money, the trap of penalty fees is the final ball thrown for getting you down, the moment you pay the fees, you will never be a member of uprofit anymore.
I was one the happy investors before investing with Uprofit Trader, my mood got ruined when suddenly my account got blocked and I wasn’t allowed to trade which genuinely made me contact customer services where I got to know that I have broken some rules of the company in returns they offered me a frozen bank account. After having a conversion my mood was like freezing the a$$ of the owner of Uprofit, but what can we do?
Uprofit Trader is not at all a prominent one to invest in because the company isn’t registered with any of the legal authorities and is even not regulated. That is a clear red flag for investing in this shady company.
If you are planning to invest in this company then you should read the reviews of this article very carefully, and also refer to some reviews present on the internet but keep chill with the cuss language.
These guys need to be exposed more. Uprofit lies all along. They have arbitrary rules which they aren’t even aware about. Don’t sign up on that scam platform.
This company would have made millions after scamming people so brutally, I don’t know why the governments aren’t making some strict rules and regulations for trapping these scammers.
The only suggestion and the problem I have with the Uprofit firm was the time restrictions while trading which made it difficult sometimes, otherwise the experience was excellent, especially for the members of Uprofit it’s big thumbs up.
Yeah, I completely agree with you.
Don’t trust uprofit trader and especially avoid their staff. They LIE.
I have heard so many different things when I was trading with them. They stole at least $1000 if not more from me.
Uprofit needs to be shut down.
It will take only some time for getting out the complete details of the company’s past, and returns which they had provided to their previous members. By the way, if you will pronounce the name Uprofit several I bet you will misspell it as unprofit for once which itself is telling the truth, it is as same the word TEACHER can be broken into CHEATER using the same alphabet.
You can imagine from the fact that these companies are scamming people from the US even after without having any license to operate. How can the US be so careless about their people, allowing these nefarious companies to trade and make millions after stealing the money of their people?
I found many users complaining about the blocking of their accounts, but according to me, it is an excellent job service provided by the company because as a user if you violate the rules of the firm they will have to take necessary steps, otherwise the services of the company are excellent.