UProfit Review: How Does Funded Trading Really Work?
UProfit is a proprietary trading company. It gives money to selected traders to invest and split the profit. However, we have our concerns.
Read this unbiased UProfit review and find out everything there is to know about the company.
complaints against the firm.
|Is This Company Safe?||It’s possibly not safe|
|Have Warnings from:||N/A|
|Trading Platforms:||NinjaTrader, RTrader|
|Free Demo Account:||No|
|How to Withdraw from This Company?||Since this company is unlikely to return your money – contact your bank, the local authorities, or simply reach out to us for professional assistance in recovering your funds.|
Is UProfit a Legit Proprietary Trading Firm?
UProfit, a.k.a. UProfit Trader, is a proprietary trading firm. Since it uses its own money to invest, it doesn’t need to have a financial license. The firm registered its business in the US, with its headquarters in Texas.
While the company doesn’t necessarily need regulation, it does need to adhere to monetary laws and make payouts as agreed. It needs to have specified Terms and Conditions as well as a transparent payment structure.
Our review aims to answer several questions about the company, including what you, as a customer, can expect.
Who Are the Clients of UProfit?
The UProfit website was registered back in 2000 but has been operating as we know it today since 2022. The majority of company customers come from:
UProfit is advertising its business on social media such as Facebook, Instagram, and YouTube. What’s odd is that the company has no social media profiles on the website, meaning they’re not quite active and engaged with its users.
Traders’ Reviews – What Customers Have to Say?
At the time of writing, we found 5,822 reviews on Trustpilot, with a score of 4.8 stars. It’s quite a good score, and most comments are positive. Those negative ones refer to unpaid commissions from an affiliate program and pending payments.
We searched further and found some complaints filed with the Better Business Bureau. The company is not accredited by BBB and has had some complaints in the past, which have affected its current rating. Therefore, be sure to read everything before making your decision.
Trading Features – Platforms and Programs
As with any prop firm, this one has an Evaluation Program. It’s an initial stage where potential clients must prove that they can handle investment within the company’s requirements in terms of maximum daily losses and reaching required profits. Once you prove yourself, you can get a funded account.
Available Trading Platforms
You can choose between NinjaTrader and RTrader, with RTraderPro also available. NinjaTrader is a free app for charting and market analytics that can help you simulate actual market conditions.
RTrader is a real-time risk management app. It provides customers with in-depth market analysis in real-time, enabling you to assess all the risks and prevent unnecessary losses effectively. You can also use the Pro version, which is equipped with better charts and automation.
Once you pass the evaluation stage, you can choose from one of the four UProfit programs.
- Basic – $89/month
- Advanced – $160/month
- Elite – $315/month
- Premium – $580/month
Each account brings you more funds from the company side while also requiring you to reach a higher profit target with more contracts and a higher daily loss limit. The amount of money ranges from $9,000 for the Basic one to $200,000 for the Premium account.
Available Trading Assets
The company offers future products coming from CME, NYMEX, COMEX, and CBOT. Simply put, you can trade futures in:
- Equities – e-mini S&P500, e-mini NASDAQ 100
- Forex – GBP, CAD, AUD
- Agricultural futures – soybean, corn, wheat
- Interest rates – 2-year T-Note, 5-year T-Note
- Commodities – silver, gold, crude oil.
UProfit Support – How Can I Get in Touch?
Of course, one of the most important things when trading is to be able to get in touch with the firm and resolve any potential issues. UProfit contact information is rather obscure, with only email address available for inquiries.
The company also has a Help Center with answers to commonly asked questions. However, if the issue is a payout, you want to be able to phone someone or get help as soon as possible. This is where UProfit stays behind similar firms such as ForexPropFirm.
UProfit Withdrawal – How Does It Work?
According to Help Center, withdrawals are processed within 24h from Monday to Friday, except on holidays. You need to request a payout by emailing the payouts department, containing your full name, live account number, and the amount you wish to withdraw.
Available payment options include:
- Bank transfer,
First $8,000 of profits always goes to the trader, after which the split is 80/20. However, if you wish to withdraw the gains within the first 40 days, you will get only 50%, while the company will keep the other 50% as a safety net.
What Can I Do If I Have an Issue With My UProfit Account?
If you’re experiencing any kind of issues with your UProfit account, you can contact your bank or the local authorities. Additionally, you can get in touch with our chargeback experts.
We’re here to help you prepare a detailed report for law enforcement and the chargeback dispute. Getting your money back is always possible, as long as you can prove what went wrong. And we’re here to assist with this matter.
What Is UProfit?
UProfit is a proprietary trading company offering traders revenue share. If you have any trouble with payouts, we might be able to help.
Is UProfit Available in the United States or the UK?
UProfit is available in most countries around the globe as it’s a proprietary company.
Does UProfit Offer a Demo Account?
UProfit doesn’t offer a Demo account but an evaluation stage where you’re trading on a virtual account.