uTrader – review of another scam project and feedback from deceived clients
Broker Review uTrader
Let’s analyze the forex broker uTrader, promoted as a project for residents of CIS countries. Question: support or scammers? Find out in the review at utrader.com.
What is known about the dealing center?
uTrader is a cross-border provider of financial services in Forex. The broker is designed for traders from the CIS. The creators consider uTrader an excellent start for trading with CFDs, Forex, and options, regardless of experience level and initial capital.
The website utrader.com is displayed in the image below.
The organization was founded in 2011 and reports a successful start. The success is credited to experienced professionals who have introduced innovations in trading CFDs and options.
uTrader belongs to the company Day Dream Investments Ltd, registered at an address in the Marshall Islands.
uTrader’s clients who are far away will have to travel kilometers for dispute resolution if needed.
A forex broker license is an important criterion. uTrader is licensed by CRFIN.
CRFIN, supposedly a financial regulator, conceals fraudulent activities. CRFIN is a commercial structure aimed at generating profit.
The document from the parent company Day Dream Investments Ltd confirms the license from CRFIN.
Trading Terms Review
uTrader offers access to trading options and CFDs:
- Standard “Higher/Lower” option;
- 60-second option;
- “Constructor” trade;
- One Touch contract.
uTrader categorizes clients based on deposit amounts into five account types:
- Start: $300-$3000;
- Silver: $3001-$10000;
- Gold: $10001-$50,000;
- Platinum: $50001-$100,000;
- VIP: from $100,001.
Differences between accounts include personalized strategies and real-time analytics.
uTrader is recognized as a “kitchen,” providing kitchen charts manipulated manually by scammers.
Client Agreement Review
The agreement with uTrader is publicly available, designed following the patterns of other scams.
uTrader bears responsibility for the information and is not a broker. The agreement allows scammers to twist conditions as they wish.
Information from uTrader should be treated as fiction for which no one takes responsibility.
Client Reviews Review
Reviews about cooperation with uTrader are all negative.
Victims complain about losses, scammers’ schemes, and the inability to recover damages.
Conclusion
uTrader is a scam with negative reviews, controversial agreements, and a fake license.
The structure is created for personal enrichment at the expense of affected clients.
Advice: Avoid uTrader.
My experience with the brokerage platform uTrader has been nothing short of a series of disappointing events. Somehow, their trading platform is always conveniently glitchy when you are about to make a profitable trade. Their customer service is the epitome of incompetence, proving no aid in resolving these issues. More alarming are the numerous stories of clients being unable to withdraw their funds despite meeting all requirements. The transparency claimed by uTrader proved to be nothing but a facade to lure unsuspecting investors. I personally regret registering with them and wholeheartedly discourage others from making the same mistake. It is clearly a scam project designed to deceive and exploit clients.