Attention! Fraud company!
Leave a request for a refund from a scammer.
A team of professionals, favorable conditions for investment, protection of funds and personal information thanks to 2FA solutions, DDoS-guard - all this and more is offered by UpTrade to its clients. But after reviewing the reviews and analyzing the operation of the platform, we found out that we are dealing with a scam project.
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What is UpTrade?
The site says that UpTrade is an international investment company, whose services are used by investors from all over the world.
After checking the domain registration date, we determined that it was less than a month old. In this regard, there are very few reviews about it.
We were unable to find out the exact registration data. There is no information about the managers, company number, financial report for the work performed on the site. It is only said that it is registered in England (London).
But, as the Google Maps service shows, there is no UpTrade among other English companies at this address.
There is a similar organization in the Companies House database, but it has a different address and field of activity (obviously not investment): “Other business support activities not classified elsewhere.”
In addition, on the Web, we found reviews about a certain Up-Trade office, written several years ago. From the comments, we learned that she presented herself as a financial market participant registered in the United States, who worked through social networks and also scammed her capital investors in a similar way.
She had this logo:
Most likely, after she gained a reputation as a fraudulent company, she decided to change her logo, website, address, slightly corrected the name and started working under the guise of another consonant English organization that we found in the database.
There is no phone number on the UpTrade website. Breeders offer to contact them through an online form: you need to enter your contacts and wait for a response. This is convenient for fraudsters, as they themselves can decide whether to contact the client or ignore it.
This sharaga, in particular the Central Bank of the Russian Federation, also does not have licenses, therefore it provides its services illegally and does not have the right to use client funds for alleged investment purposes.
Moreover, it is included in the black list of the above regulator, as it has all the signs of a financial pyramid.
As for the internal documentation (“Rules and Agreements”), it is another confirmation that UpTrade uses “kitchen” methods in its work. Take at least point 4.5: the client agrees that the office is not responsible for conducting transactions, and he will not make claims to it, since this is not included in “the scope of its competence and responsibility”.
Another sign that we have a classic financial pyramid is an affiliate program. The client can allegedly receive additional funds for creating his own partner team, which will use the services of UpTrade. This method of expanding the client base is used by almost all such “kitchens”.
Terms of cooperation and investment proposals
Fraudsters offer 3 investment plans:
- “Start” - 1.2% of profit is accrued daily;
- "Classic" - 1.5%;
- "Trader" - 2.1%.
As we can see, the entry threshold is $1, but this is just a distraction. Judging by the reviews, when communicating with a potential client, scammers try by all means to dilute him by at least 500-1000 dollars. Also note that there is no specifics on the site as such: what projects the money is invested in, how the whole procedure takes place, what guarantees the user has - it is not clear.
Reviews about the scam project
So far, there are few reviews about UpTrade. But those that we managed to find were enough to understand that these are pure scammers. Former clients write that they invested in the project, but they did not receive the promised earnings or their own invested funds.
Financial pyramid as it is
UpTrade positions itself as an investment company that promises high returns. In order to motivate users to use the services, swindlers, under the guise of professional financiers, call them and in an obsessive manner talk about the possibility of earning big money without doing anything. As arguments, they cite some numbers, statistics and examples of successful investors. Beginners will certainly "buy" on such an offer.
The office also uses a referral program to expand its client base. Judging by the reviews, some of its participants even managed to get real money for it (though the amounts are insignificant). This is done so that the user tells his referrals (and most often they are friends, acquaintances, relatives) that earnings within the platform are real.
The latter, under the strict guidance of managers, deposit larger amounts in the hope of getting a high percentage from them, but as soon as it comes to withdrawing funds, the capital is drained or frozen. The swindlers remind about clause 4.5 of the “Agreement”, emphasizing that they are not responsible for all kinds of force majeure situations that occur during transactions.
Results
UpTrade is a scam, as indicated by several hard facts:
- lack of licenses from regulators and registration documents;
- inflated percentage of profitability (several times higher than deposit rates);
- lack of information about assets, income and expenses, specific projects in which funds are invested;
- negative reviews of deceived users.
You should not contact such an office, this is clearly not the site where you can earn at least something.
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