What is UpperTrade?
UpperTrade is a forex and CFD broker based in Dominica, listed with a foundation year of 2021. It offers leverage up to 1:2, spreads from 0.5 pips and a minimum deposit of $250. Clients trade on UpperTrader Trading platform for Android, iOS, and WIndows and on mobile.
UpperTrade is an online trading broker that trades on Forex, Stocks, Indices, Commodities, Metals, and Energies. UpperTrade is based on its own trading platform named UpperTrader. They have trading software for android, iOS, and Windows. This website is a multilingual website with the support of five different languages.
UpperTrade has four different types of accounts for their clients. These four accounts have a different level of minimum deposit and these accounts come with different features. The accounts are named Beginner, Medium, Advanced, and Professional. All these accounts have negative balance protection and all of these accounts have guaranteed stop loss.
The Beginner account starts with $250. The Leverage in this account is 1:300 and the spread starts from 2.0 pips. This account gets five free trading signals and it gets a basic education.
The medium account starts with $2000. The leverage in this account is 1:300 and the spread starts from 1.5 pips. This account comes with basic education and 10 free trading signals per week. Just like the beginner account, this account also doesn’t get a personal account manager.
The Advanced account starts with $5000. This account has the leverage of 1:200 and the spread in this account starts from 1.0 pips. This account comes with a personal account manager and risk management. Just like the Medium account, this account also gets volatility protection. All these three accounts don’t come with VIP trading support. But the Professional account comes with VIP trading support that requires a minimum deposit of $25,000. The leverage in this account is maximum at 1:100 and the spread starts from 0.5 pips. Just like the advanced account, this account doesn’t come with educational materials, but it gets advanced education. This account gets premium trading signals just like the Advanced account.
Is UpperTrade safe and regulated?
UpperTrade is regulated by UpperTrade is owned by Tetris Group LTD which is registered in Dominica. This is an offshore regulator. It sets capital and reporting rules, but its investor protection is lighter than tier-1 regulators such as the FCA (UK), CySEC (Cyprus) or ASIC (Australia), and there is usually no investor compensation scheme.
Safety checklist before you deposit
- Find the licence number on the broker's website and check it on the regulator's official register.
- Check that client funds are held in segregated bank accounts.
- Make a small first deposit and test a withdrawal before you add more.
- Confirm negative balance protection applies to your account type.
UpperTrade account types
The broker offers several account options so beginners and experienced traders can choose the right fit. Accounts open from a $250 minimum deposit.
| Account | Best for | Available |
|---|---|---|
| Mini account | Beginners trading small lot sizes | No |
| VIP account | High-volume traders wanting raw spreads | Yes |
| Islamic (swap-free) | Traders who need no overnight interest | No |
| Managed account | Investors who prefer a money manager | Yes |
Trading platform and conditions
UpperTrade provides UpperTrader Trading platform for Android, iOS, and WIndows, so you can trade from any browser without installing software. Mobile trading is supported as well.
- Scalping and hedging are permitted, which suits short-term and EA-style strategies.
- News trading is allowed during high-impact economic releases.
- Spreads from 0.5 pips are available on raw pricing, with a commission per lot.
- Leverage up to 1:2 gives large position sizes from a small deposit, which also raises the risk of fast losses.
Deposits and withdrawals
UpperTrade supports 5 funding methods, including Visa, MasterCard, Bank Transfers, WireTransfer, Maestro. Accounts can be held in 2 base currencies (USD, EUR), which helps you avoid conversion fees.
UpperTrade bonus: <p>This broker is not providing any welcome bonus</p>
How the promotion works
The current UpperTrade promotion is <p>This broker is not providing any welcome bonus</p>. Entry rules, dates and eligible countries are set by the broker. Read the full terms on the UpperTrade website before you trade for it.
Check the promotionLooking for free trading credit instead? Compare the latest forex no deposit bonus offers and forex deposit bonuses.
UpperTrade pros and cons
Pros
- Raw spreads from 0.5 pips
- Scalping and hedging allowed
- News trading allowed
- VIP and managed accounts
- 5 deposit methods
Cons
- Only offshore regulation
- No investor compensation scheme
- $250 minimum deposit is higher than some rivals
- UpperTrader Trading platform for Android, iOS, and WIndows only in our listing, no MT4/MT5 confirmed
- No Islamic account listed
How to open an UpperTrade account
- RegisterVisit the UpperTrade website and sign up with your name, email and phone number.
- Verify your identityUpload a passport or national ID and a recent proof of address (KYC).
- Choose an accountPick VIP, managed or a standard account, and your base currency.
- Fund the accountDeposit at least $250 with Visa, MasterCard, Bank Transfers or another method.
- Start tradingLog in to UpperTrader Trading platform for Android, iOS, and WIndows or the mobile app and set your risk per trade.
Is UpperTrade a good broker? Our verdict
UpperTrade suits active traders who want raw spreads, freedom to scalp or trade the news, plus a wide choice of payment methods. The main trade-off is regulation: an offshore licence gives less protection than a tier-1 regulator. Start small, test a withdrawal, and only trade money you can afford to lose.