UOP Capital Review: Why You Should Avoid Them
UOP Capital is not the right place to trade cryptocurrency or anything else. They’re not exactly trustworthy, and their fees are outrageous. It’s the kind of shady operation you’d want to avoid. To get the lowdown on how sketchy they are, read our UOP Capital review.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||UOP Management Ltd|
|Headquarters Country:||Saint Vincent, and the Grenadines|
|Supported Platforms:||UOP trading platform|
|Cryptocurrencies:||Yes (300+ cryptocurrencies)|
|Types of Assets:||Forex, Shares, Cryptos, Metals, Energies, Indices, Commodities|
|Free Demo Account:||No|
|Accepts US clients:||No|
Does UOP Capital Operate as a Regulated Company or a Scam?
UOP Capital has very restricted corporate information available, and there is no information about its regulatory status. The broker does not provide a phone number or address. Instead, there is only a form to fill out, and UOP Capital states that they will contact you within an hour.
According to UOP Capital’s Terms and Conditions, the company owner is UOP Management Ltd. They are from St. Vincent and the Grenadines (SVG). Yet, the broker does not provide information about their regulatory status, as already mentioned. SVG regulator does not guarantee regulatory oversight. The SVG Financial Services Authority does not regulate forex brokers. As a result, brokers registered in SVG must be regulated by another authority to operate.
UOP Capital is an unregulated offshore forex broker based in St. Vincent and the Grenadines. There is no information about their regulatory status, and they do not provide a phone number or address. Their trading platform is not transparent, and they charge high fees, so avoiding trading with them is advisable.
There is no FCA, ASIC, or BaFin license for the broker. Also, there is no Tier 1 regulation for the broker. In light of this information, it’s reasonable to conclude that UOP Capital is an unregulated entity.
Be careful when dealing with companies like Quantum Trade, UOP Capital, FTX, and other suspicious businesses.
Trader’s Voices: Unveiling Their Opinions About UOP Capital
The total number of TrustPilot reviews is 64 at the time of writing the UOP Capital review. TrustScore is always calculated from 1 to 5 stars.
UOP Capital has a 3.9 score, which is ‘great’ on its star label. The percentage of negative reviews (1-star) is 16%, and positive 5-star ratings are 68%.
UOP Capital Platforms – A Software Comparison
UOP Capital claims to provide its clients with a trading platform named the UOP Platform. Yet, the broker has not provided any specific details about it. Our attempts to get information or access to the platform have been unsuccessful. There are no links available.
Legitimate brokers advertise the platform they offer, along with links to their trading venue. That is for all traders to see. Yet, UOP Capital only has one reference to their trading platform without links.
This lack of transparency is a red flag and a common characteristic of fraudulent entities.
The UOP Trading Platform
UOP Capital claims to be the first to develop a unique UOP trading platform. They say it will benefit both novice traders and seasoned professionals. With the UOP trading platform, they aim to simplify the trading journey, making it easier.
Ultimately, they say the UOP trading platform is the go-to tool for all your trading needs. However, remember that this broker is suspicious.
What Financial Instruments Does The Platform Include?
The platform includes the following financial instruments. Let’s take a look at them:
For example, they provide trading opportunities for currency pairs such as EUR/USD, stocks like Tesla and Google, and commodities like Gold, etc.
UOP Capital – Countries Of Service
As per their website, UOP’s trading services are prohibited in the following countries:
- Crimea Region
- North Korea
- Syrian Arab Republic
On the other hand, they operate in the following countries:
- United Kingdom
Account Options Offered by UOP Capital
UOP Capital provides several trading account options. They are as follows:
- Standard Account: This account requires a minimum deposit of €10,000 and offers a leverage ratio of 1:20. The margin loan is 25%, and clients receive a 10% commission on profits.
- Advanced Account: With a minimum deposit of €25,000, this account provides a leverage ratio of 1:40. The margin loan is 40%, and clients receive an 8% commission on profits.
- Platinum Account: This account requires a minimum deposit of €100,000 and offers a leverage ratio of 1:60. The margin loan is 60%, and clients receive a 6% commission on profits.
- Expert Account: With a minimum deposit of €250,000, this account provides a leverage ratio of 1:100. The margin loan is 100%, and clients receive a 4% commission on profits.
- VIP Account: This account requires a minimum deposit of €500,000 and offers a leverage ratio of 1:150. The margin loan is 200%, and clients receive a 2% commission on profits.
Can a Trader Use a Demo Account?
UOP Capital does not offer demo accounts, which is a significant drawback for traders. Demo accounts provide a risk-free environment for traders to practice and test their trading strategies without using real money.
Without this, traders may be hesitant to invest their funds with UOP Capital. Why? Well, they would have no way to test the platform’s functionality beforehand.
Note: Both UOP Capital and CryptoFXPro have a record of tricking their clients and working as unregistered businesses. It’s important to remember this.
Terms of Service for UOP Capital
Terms and conditions refer to a set of rules and regulations that dictate the use of a product or service. They typically include information regarding payment, delivery, warranties, returns, and other legal matters.
It is essential to read and understand the terms and conditions of UOP Capital before using their service. In that way, you will avoid any disputes or misunderstandings.
Leverage, Spreads, and Fees
On the accounts page, the broker advertises that they provide a maximum leverage of 1:150. Yet, on their homepage, they claim to offer a maximum leverage of 1:500. Nonetheless, such high leverage can pose a significant risk, and it is illegal in several jurisdictions.
The broker claims to offer spreads starting from 0 pips, which may suggest higher commissions. However, there is no disclosure regarding the commissions charged by the broker. It is unusual for brokers not to provide information regarding commissions. This lack of transparency raises suspicions about the credibility of the broker and may be a tactic to attract more customers.
Can I Withdraw My Deposit Bonus?
The broker provides bonuses to its clients, but there is a catch. The bonus withdrawal condition requires a minimum of 30 trades of the deposit and bonus amount combined. If this condition is not met, a client cannot withdraw funds. This practice raises questions about broker legitimacy. Requiring such a high number of trades to withdraw the bonus may be unfair.
Scammers entice customers with attractive bonuses, then make it difficult for them to withdraw their funds. Traders must carefully read and understand the terms and conditions. To avoid unpleasant surprises, you should read bonus offers before accepting them.
Scammed by a UOP Capital Broker? – We Want To Hear Your Story
We understand how frustrating it can be to fall victim to a broker scam. If you have been scammed by a broker, we encourage you to share your experience with us. It’s important to let others know about your experience to avoid similar situations.
By sharing your story, you can prevent others from losing their hard-earned money. Don’t suffer in silence. Let us know what happened so we can help spread the word and protect others from falling into the same trap.
What Is the Chargeback Procedure?
If you have been scammed by a broker, start a chargeback procedure ASAP. Contact your card issuer. You will need evidence to support your claims, such as emails or transaction records. The card issuer will investigate the claim and may need more information from you and the broker. If the claim is valid, the card issuer will refund the payment to your account and attempt to recover the funds from the broker.
File a dispute as soon as possible to increase the chances of a successful chargeback. If you need help with chargebacks, book a free consultation with our chargeback specialists who will help you regain your money.
What Is UOP Capital?
UOP Capital is an unregulated broker scam that is trying to prey on your money.
Is UOP Capital a Scam Broker?
Yes. This broker is a scam and you should avoid doing business with it.
Is UOP Capital Available in the United States or the UK?
This broker scam is not available in the United States.
Does UOP Capital Offer a Demo Account?
UOP Capital does not offer demo accounts, which is a significant flaw for traders.