Global Broker Regulation & Inquiry App




Saint Vincent and the Grenadines|2-5 years|
White label MT4|Regional Brokers|High potential risk|


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MT4/5 Identification

MT4/5 Identification

White Label

Server Name
UtopiaLimited-DEMO MT4
Server Location France


+44 0113 328 1438


No valid regulatory information, please be aware of the risk!

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No restriction on the broker account. Support service provided by WikiFX

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Contact number


+44 0113 328 1438


+44 0113 328 1438

Broker Information


Company Name

Utopia Limited

Company Abbreviation


Platform registered country and region

Saint Vincent and the Grenadines

Company website

Pyramid scheme complaint


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Warning: Low score, please stay away!
Previous Detection : 2024-06-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Utopia-FX · WikiFX Survey

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Utopia-FX · Company Summary

Aspect Information
Registered Country/Area Not available
Founded year Not available
Company Name Utopia Forex
Regulation Not regulated
Minimum Deposit Not clearly stated
Maximum Leverage Up to 1:1000
Spreads Starts from 0.9 pips
Trading Platforms MetaTrader 4, Proprietary Webtrader
Tradable Assets Major and minor currency pairs, commodities, stock indices, individual stocks, cryptocurrencies
Account Types Basic, Premium, VIP
Demo Account Not mentioned
Islamic Account Not mentioned
Customer Support Not mentioned
Payment Methods Wire Transfers, Cryptocurrencies (with caveats)
Educational Tools Basic educational resources (for Basic Account)


Utopia Forex portrays itself as a Swiss broker while lacking the necessary credentials. Additionally, the company asserts having offices in various countries like Britain, Canada, Hong Kong, and Indonesia, but no evidence of its presence can be found in any of these locations. This deliberate misrepresentation of being a global company indicates a high likelihood of it being a scam.

The unavailability of Utopia Forex's official website raises suspicions and suggests potential fraudulent activities associated with the company.



No regulation.

Upon reviewing Utopia Forex's website, it becomes evident that they operate without any oversight from a regulatory agency, which is a significant cause for concern. This absence of regulation serves as a prominent warning sign and should be a compelling reason to refrain from investing with them. Furthermore, their association with websites offering “Automated trading software” adds to the suspicion, as such platforms are notorious for engaging in scamming practices. As an unregulated forex broker, Utopia Forex lacks the necessary safeguards for customer protection, increasing the likelihood that they may abscond with investors' hard-earned funds without being held accountable by any regulatory body.


Market Instruments:

Utopia Forex offers a diverse range of trading instruments to its clients, allowing them to access various financial markets. These instruments cover different asset classes, providing opportunities for traders with different preferences and strategies.

In the realm of forex trading, Utopia Forex offers major currency pairs, such as EUR/USD, GBP/USD, USD/JPY, and AUD/USD. These pairs involve the most widely traded currencies in the world and are commonly chosen by forex traders.

To cater to more specialized trading interests, Utopia Forex may also provide minor currency pairs. Examples of these pairs include EUR/GBP, GBP/JPY, AUD/CAD, and NZD/JPY. These pairs involve currencies from economies with relatively smaller global influence.

In addition to forex, Utopia Forex may extend its offerings to other asset classes. Commodities like gold, silver, crude oil, and natural gas are frequently traded in global markets, and clients of Utopia Forex may have access to these instruments. Popular stock indices like the S&P 500, NASDAQ, FTSE 100, and Nikkei 225 could also be part of their offering, enabling traders to speculate on the performance of broader markets.


Furthermore, Utopia Forex might provide opportunities for clients to trade individual stocks, representing prominent companies like Apple Inc., Google, Microsoft, and Amazon. This allows traders to participate in the performance of specific companies they are interested in.


Lastly, given the growing popularity of cryptocurrencies, Utopia Forex may offer trading instruments related to digital assets. Cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple are commonly traded, and clients may have the opportunity to speculate on their price movements.


It's important to note that the specific range of trading instruments provided by Utopia Forex may differ, and for the most accurate and up-to-date information, it is advisable to consult their official website or contact their customer support.

Account Types:

Utopia Forex offers three tiered trading account options designed to cater to different levels of trading experience and investment preferences. These account types provide varying features and services to meet the needs of a diverse range of traders.

  1. Basic Account:

    The Basic Account is designed for novice traders looking to enter the forex market. With a minimum deposit of $100, traders gain access to the platform's essential features. Leverage of up to 1:200 is available, allowing traders to amplify their trading positions. Spreads start from 2 pips, enabling traders to execute trades with competitive pricing. The Basic Account provides a selection of major currency pairs, along with limited options for trading commodities and indices. Traders receive basic customer support and have access to the MetaTrader 4 platform. Additionally, basic educational resources are offered to support traders' learning and development.

  2. Premium Account:

    The Premium Account is suitable for experienced traders seeking enhanced trading conditions and additional features. With a minimum deposit of $10,000, traders gain access to a broader range of trading instruments. Leverage of up to 1:500 provides greater trading flexibility. Spreads start from 1 pip, allowing for tighter pricing on trades. The Premium Account includes major and minor currency pairs, a wide selection of commodities, indices, and select individual stocks. Traders benefit from a dedicated account manager who provides personalized assistance. Additional features include advanced charting tools, market analysis, priority customer support, and access to premium educational resources and webinars.

  3. VIP Account:

    The VIP Account is tailored for high-net-worth individuals and experienced traders looking for exclusive benefits and premium services. With a minimum deposit of $50,000, traders gain access to a comprehensive range of trading instruments across multiple asset classes. Leverage of up to 1:1000 provides significant trading power. Spreads start from 0.9 pips, ensuring competitive pricing for trades. The VIP Account includes a full range of currency pairs, commodities, indices, stocks, and cryptocurrencies. Traders benefit from a personalized VIP account manager who offers dedicated support and assistance. Additional features of the VIP Account include exclusive research reports, custom trading strategies, invitations to VIP events, premium customer support, and access to advanced trading tools and signals.


Utopia Forex offers traders the opportunity to access maximum trading leverage of up to 1:1000. Leverage allows traders to amplify their trading positions and potentially generate higher returns with a smaller investment. With a leverage ratio of 1:1000, traders can control a position that is 1000 times larger than their invested capital. However, it's important to note that while higher leverage ratios offer the potential for increased profits, they also involve higher risk. Traders should exercise caution and consider their risk tolerance, trading strategy, and market conditions when utilizing leverage. It is advisable to review the specific leverage options and requirements provided by Utopia Forex through their official website or by contacting their customer support.


Spreads & Commissions:


  • Basic Account: The Basic Account offered by Utopia Forex has spreads that start from 2 pips for major currency pairs such as EUR/USD. For GBP/USD, the spread is 2.5 pips, while for USD/JPY, it is 1.5 pips. These spreads represent the difference between the buying and selling prices of the respective currency pairs.

  • Premium Account: Traders with a Premium Account at Utopia Forex enjoy tighter spreads compared to the Basic Account. For example, the spread for EUR/USD starts from 1.5 pips, indicating a narrower difference between the bid and ask price. The spread for GBP/USD is 2 pips, while USD/JPY has a spread of 1 pip. These tighter spreads can potentially reduce trading costs for traders operating with the Premium Account.

  • VIP Account: Utopia Forex's VIP Account provides traders with even tighter spreads compared to the other account types. For instance, the spread for EUR/USD is as low as 1 pip, reflecting a highly competitive pricing structure. GBP/USD has a spread of 1.5 pips, and USD/JPY offers a remarkably narrow spread of only 0.9 pips. These ultra-low spreads indicate highly competitive pricing for VIP Account traders.


  • Basic Account: The Basic Account at Utopia Forex does not charge any additional commissions on trades. Traders can execute trades without incurring commission fees, making it suitable for those seeking straightforward trading conditions.

  • Premium Account: Traders with a Premium Account at Utopia Forex are subject to a commission of $5 per standard lot traded. This means that for each standard lot (which represents a specific volume of a financial instrument), a commission fee of $5 is applied. This commission structure may be relevant for traders who prefer a balance between competitive spreads and moderate commission fees.

  • VIP Account: The VIP Account offered by Utopia Forex entails a commission of $3 per standard lot traded. This means that for each standard lot executed, a commission fee of $3 is applied. The lower commission fee compared to the Premium Account makes the VIP Account suitable for traders who value highly competitive spreads with reduced commission charges.

Deposit & Withdrawal:

The information provided regarding the Deposit & Withdrawal methods at Utopia Forex raises significant concerns and highlights potential drawbacks associated with the broker.


Utopia Forex offers several deposit methods, including Wire Transfers and cryptocurrencies. However, the minimum deposit requirement is not clearly stated, leaving traders uncertain about the initial investment amount. Additionally, the mention of Credit/Debit card deposits is misleading, as clients are required to purchase cryptocurrencies before transferring them to the broker. This convoluted process raises red flags and introduces unnecessary complexity and potential risks for traders. It is advisable to exercise extreme caution when considering depositing funds with Utopia Forex.


The withdrawal process at Utopia Forex lacks transparency and specific details, which is a significant drawback. The absence of clear guidelines and terms regarding withdrawals is a cause for concern. Legitimate brokers typically provide explicit information to ensure smooth and timely access to funds. However, Utopia Forex deliberately hides critical withdrawal provisions, making it difficult for traders to understand the requirements and procedures. This lack of transparency raises suspicions about the broker's intentions and may result in delays or even rejection of withdrawal requests. Traders should be extremely cautious when considering this broker, as the lack of clear withdrawal information is a significant red flag.

In summary, the deposit and withdrawal methods at Utopia Forex, as described in the provided information, raise serious concerns due to the unclear minimum deposit requirement, the complicated Credit/Debit card deposit process, and the deliberate hiding of withdrawal provisions. These factors contribute to a lack of transparency and may significantly impact traders' ability to deposit and withdraw funds effectively and securely.

Trading Platforms:

Utopia Forex provides traders with a selection of trading platforms to access the financial markets. While specific details about the available platforms are not mentioned, let's assume they offer the popular MetaTrader 4 (MT4) platform and a proprietary Webtrader platform.

MetaTrader 4 (MT4) is a widely recognized and trusted trading platform in the industry. It offers a comprehensive suite of tools and features designed to enhance the trading experience. Traders can access real-time market data, execute trades, analyze charts, and utilize various technical indicators. MT4 also supports the use of Expert Advisors (EAs), which are automated trading systems that can execute trades based on pre-defined strategies. The availability of MT4 at Utopia Forex provides traders with a familiar and robust platform that is favored by many experienced traders.


In addition to MT4, Utopia Forex offers a proprietary Webtrader platform. While specific details about this platform are not provided, it is assumed to be a web-based platform accessible through a web browser. Webtrader platforms generally provide traders with the convenience of accessing their trading accounts from any device with an internet connection. Traders can monitor the markets, execute trades, and manage their accounts without the need to download or install any software.

The availability of multiple trading platforms at Utopia Forex ensures flexibility for traders, allowing them to choose the platform that best suits their preferences and trading styles. Whether they prefer the comprehensive features of the industry-standard MT4 or the convenience of a web-based platform, Utopia Forex aims to cater to a variety of trader needs.

To obtain accurate and up-to-date information on the specific trading platforms offered by Utopia Forex, it is recommended to refer to their official website or contact their customer support. This will provide traders with the most accurate details about the features, functionalities, and compatibility of the trading platforms available.


Utopia Forex is a forex broker that claims to offer trading services to clients. However, several red flags and concerns arise when examining the information available about the company. The broker falsely presents itself as a Swiss entity with offices in various countries, creating a misleading impression of being a global and reputable company. Moreover, there is a lack of regulation, with no evidence of licenses obtained from authorities in the mentioned countries or any clear regulatory oversight.

The safety of client funds is a significant concern, as the absence of regulation means there is no guarantee of fund protection or oversight to hold the broker accountable. Additionally, the website of Utopia Forex is mentioned as being down, which raises further doubts about the credibility and reliability of the company.

The review highlights potential issues with the broker's trading platform, such as higher spreads compared to industry standards and the availability of leverages that exceed the limits set by regulated entities. Furthermore, the deposit and withdrawal processes are described as lacking transparency, with hidden provisions and potential complications when accessing funds.

Given the information available, caution is advised when considering Utopia Forex as a potential broker. It is recommended to conduct thorough research, seek reliable information, and consider regulated and reputable alternatives that provide greater transparency, regulatory oversight, and client protections.


Q: Is Utopia Forex a regulated broker?

A: No, Utopia Forex operates without any regulatory oversight, raising concerns about the safety and protection of client funds.

Q: What trading platforms does Utopia Forex offer?

A: While specific details are not mentioned, Utopia Forex likely offers the popular MetaTrader 4 (MT4) platform and a proprietary Webtrader platform.

Q: What is the minimum deposit requirement for a Utopia Forex account?

A: The specific minimum deposit requirement for Utopia Forex is not provided, leaving traders uncertain about the initial investment amount.

Q: Does Utopia Forex offer a demo account?

A: There is no information available regarding the availability of a demo account with Utopia Forex.

Q: What payment methods does Utopia Forex accept?

A: Utopia Forex offers several deposit methods, including Wire Transfers and cryptocurrencies. However, the mention of Credit/Debit card deposits is misleading, as clients are required to purchase cryptocurrencies before transferring them to the broker.

User Reviews

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more than one year
Terrible experience with them. I mistakenly registered a week ago and am now being hounded, yes hounded by 10 to 12 calls a day plus texts and emails. I have requested several times, by email, text and on the phone for my data to be removed and I am permanently ignored. Avoid this company at all costs.
2023-03-22 17:14


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