This company under the pretext of running the legitimate trading platform are running a financial fraud scheme by enticing the people to put in more money and take risks with your investments. They are running their "behind the scenes" agenda by opening certain trades which have a huge high spreads and they will invest 70 to 80% of your capital instead of keeping margin to support the open positions. They will push you to the corner and insist of putting in more money to support your open positions. Scammers! Unfortunately realized it very late and lost a huge amount of money. They won't reply to your whatsapp messages and always talk nicely to you, showing their are trying to solve your positions and get into a healthy state. This never happened and they don't want to make it happen. Stay away and authorities in UAE should take a note of this fraudsters and take necessary actions. Need more people to come forward who have been scammed by utrademarkets and let us put a stop to these scammers!The company website is https://www.utrademarkets.com/

FX3000509590

United Arab Emirates 2024-04-08 15:19

If anyone want register complaint against Utrade Markets please i will join with you i need more victim because i loose my money 36000$, Please don't invest in Utrade. you will lose all your money. They don't have Office in UAE. Utrade is in RED list First of all they will say below point to open the trading account. 1. No swap Charges 2. 20% bonus credit 3. Within 24 hrs withdrawal Don't trust them. 1. They don't have swap charges but they spread charges. If you have active trade over the weekend means, they will increase the spread charges ( Difference between Buy & Sell Value) after market closed. Because of this your floating loss will increase & if dont have free margin means your account will be wiped out completly & you will lose all your money. Example: Platinum/USD: Before Spread: Buy Value: 1920.00 Sell Value: 1923.00 After Spread: Buy Value: 1920.00 Sell Value: 1946.00 If you see the difference above: Before Spread is 3.00 difference & After Spread is 26.00 Difference. So 23.00 got increased. This changes only done by the Utrade brokers in the MT5 app. They have all the access to increase the spread. They will do this changes after market closed. only in weekends (Saturday & Sunday) Spread value is fixed by the brokers only. 2. They will give 20% to 35% bonus credit. But there is no use. You can't withdraw that amount. It will not include in your captial amount. All your floating loss will be deduct first from your capital only. Once your captial amount finished your account will be closed. you can't run with your bonus credit.

Bhanu8415

United Arab Emirates 2024-02-17 13:25