UOP Capital – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
UOP Capital - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Depositupdated 2022
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://uopcapital.com
Founded: 2022
Regulations: None
Languages: English
Deposit Methods: Unspecified
Minimum Deposit: €10,000
Free Demo Account: No
Number of Assets: N/A
Types of Assets: Forex, Shares, Cryptos, Metals, Energies, Indices, Commodities
Trading Accounts and Conditions
UOP Capital offers their clients the following trading accounts:
- Standard: The minimum deposit for this account is €10,000. The leverage ratio offered is 1:20. The margin loan is 25%, and you get a 10% commission on profits.
- Advanced: The minimum deposit for this account is €25,000. The leverage ratio offered is 1:40. The margin loan is 40% and you get an 8% commission on profits.
- Platinum: The minimum deposit for this account is €100,000. The leverage ratio offered is 1:60. The margin loan is 60% and you get a 6% commission on profits.
- Expert: The minimum deposit for this account is €250,000. The leverage ratio offered is 1:100. The margin loan is 100% and you get a 4% commission on profits.
- VIP: The minimum deposit for this account is €500,000. The leverage ratio offered is 1:150. The margin loan is 200% and you get a 2% commission on profits.
There is contradictory information about the leverage, because on their website, the broker advertises that their maximum leverage is 1:500. And while UOP Capital does not mention any spreads in the account types section, the broker claims to offer spreads that start from 0.0 pips.
UOP Capital – Advantages
There are no advantages to trading with UOP Capital.
UOP Capital – Disadvantages
Given below are the list of disadvantages we have found that prove that UOP Capital is a scammer:
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Issues with Regulation
The first sign of a scam is the lack of corporate and regulation information on a broker’s website.
With UOP Capital, we get hardly any corporate information and we definitely do not know anything about this broker’s regulation status.
In their Contact Us section, there is no contact phone or address. We only have a form that you need to fill up and the broker states that they will get back in touch with you. UOP Capital promises that they will contact you within the hour.
In their Terms and Conditions, UOP Capital claims to be owned and operated by UOP Management Ltd and that this company is based in St. Vincent and the Grenadines (SVG). The broker provides a registration number (148LLC2020). However, the broker does not provide us information about their regulation status.
Being registered in SVG means nothing, since the SVG FSA (Financial Services Authority) has made it clear that they do regulate forex brokers. Therefore, a broker registered in SVG needs to be regulated by another authority to operate legally.
Since this broker has not provided any information with regard to their regulation status, we can safely assume that UOP Capital is an unregulated entity.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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No Trading Platform
UOP Capital claims to offer their clients some kind of trading platform, which they have dubbed the UOP Platform. However, the broker does not specify what this platform is.
We were unable to find any information about this platform, and we are also unable to access it. There are no links to that platform and we could not create an account which would have granted access to it.
We need to point out that regulated and legitimate brokers advertise the platform they are offering. They also have demo accounts and a clear link to their trading platform for all traders to see. With UOP Capital, there is only a single reference to their trading platform and no links at all.
This lack of transparency is typical of scammers.
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Issues with Trading Conditions
Since we were unable to open an account with UOP Capital, there was no way to confirm the trading conditions they offer. Furthermore, there are many contradictions on their website with regard to their trading conditions.
First, the broker claims to offer 5 different account types. However, when we checked the account opening section in the registration process, there was no option to choose from any of the so-called account types.
Next, in their Account Types section, the broker claims that they offer a maximum leverage of 1:150. However, on their homepage, they say that they offer a maximum leverage of 1:500. Either way, this kind of leverage is not only dangerous, but also illegal in many jurisdictions.
The spreads start from 0 pips. Such spreads would mean higher commissions, but there is no information about the kind of commissions they demand.
We do not know what commissions they broker promises for the profits you make – this is not usual for brokers. We think that it is a lie to attract more customers.
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Issues with Payments
UOP Capital does not bother providing us with information of the types of payment methods they have. We do not know how a trader can make deposits with this broker.
The contradictions carry on even in their payments sections. In one part, the broker states that there are no payment fees charged. However, in another section of their website, the broker states that they charge their customers a 5% withdrawal fee.
There is also contradictory information about the minimum deposit requirement. In their Account Types section, the broker states that the minimum deposit requirement is 10,000 Euros. This is an exorbitant sum that makes doing business with this broker completely out of the question. The contraction is this – in their FAQ section, the broker claims to have a minimum deposit requirement of just 300 Euros. Still too high.
This broker also offers bonuses, where the condition for withdrawal is that you need to have traded at least 30 times your deposit and bonus amount. If you do not meet this condition, then you will not be allowed to withdraw your funds. This unfair condition is typical of scammers.
Conclusion
UOP Capital is just another scammer that is out to get your money. This broker is not to be trusted.
UOP Capital
Pros
- None
Cons
- Issues about Regulation
- No Trading Platform
- Issues with Trading Conditions
- Issues with Payments
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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