Scam Brokers

UrbanGrowth Investment – Can They be Trusted?

Chainbits Staff | Publish date: 10/06/2023 (Last updated: October 27, 2023 07:18 AM)

Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.

UrbanGrowth Investment - DO NOT TRADE WITH THIS PROVIDER

2.2/10

$100

Minimum Deposit

updated 2023

Try other platforms

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.

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Website URL: https://urbangrowthinvestment.com

Founded: 2023

Regulations: Unregistered

Languages: English, French, German, Italian, Portuguese, Russian, Spanish

Deposit Methods: Cryptocurrencies – Bitcoin, Ethereum, USDT

Minimum Deposit: $100

Free Demo Account: Not Available

Number of Assets: Unknown

Types of Assets: Real Assets (Real Estate, Energy, Infrastructure), Cryptocurrency, Forex, Bonds

Trading Accounts and Conditions

UrbanGrowth Investments does not offer their clients trading accounts. Prospective clients are offered investment packages instead. Here is what you get:

Standard Plan: The minimum investment is $100 and the maximum is $4,999. Lockdown is 18%, the referral is 7% and you are promised a 15% ROI.
Premium Plan: The minimum investment is $5,000 and the maximum is $19,999. Lockdown is 22%, the referral is 8% and you are promised an 18% ROI.
Elite Plan: The minimum investment is $20,000 and the maximum is $49,999. Lockdown is 25%, the referral is 9% and you are promised a 22% ROI.
Verteran Plan: The minimum investment is $50,000 and there is no cap on the maximum investment amount. Lockdown is 30%, the referral is 11% and you are promised a 25% ROI.

We do not know what Lockdown means and we assume that referral means a referral bonus. There is no reference to trading conditions at all.

UrbanGrowth Investment – Advantages

There are no advantages to trading with UrbanGrowth Investment.

UrbanGrowth Investment – Disadvantages

Listed below are all the red flags that point to UrbanGrowth Investment’s scam:

Lack of Regulation

UrbanGrowth Investment claims to be based in the United Kingdom. The broker provides us with an address in this country as well as telephone number from there. However, the broker does not tell us the name of the company that owns and operates their website and neither do we get to know their regulation details (license and registration numbers, and the name of the authorizing regulator). It is only in their Terms and Conditions that we find out their company name: Bright Future Loans Ltd.

Being based in the UK means that this broker should be regulated by the Financial Conduct Authority – the FCA. Checking whether this broker is regulated by the FCA is a simple matter. The FCA has an online database on their website where anyone can visit and check if a forex broker is regulated by them or not.

We did so, and we found out that this broker is not regulated at all by the FCA – or by any other authority, for that matter.

A broker operating without a valid license means that that broker is a scammer. So, UrbanGrowth Investment is a scammer.

Plus500

$100

Minimum Deposit

Start Trading

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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.

AvaTrade

$100

Minimum Deposit

Start Trading

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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.

Blacklisted by the FCA

The FCA has also noticed that UrbanGrowth Investment is operating illegally in their territory. In fact, the regulator has blacklisted this broker and issued a warning against them on their website.

In that warning, the famed regulator states that UrbanGrowth Investment is operating in the UK without the FCA’s authorization and that doing business with the broker would be dangerous. The regulator also states that if you do deal with this broker then you will not get protection from the FCA.

Such a warning is a clear indication that we are dealing with another scammer in UrbanGrowth Investment.

Poor Trading Platform

UrbanGrowth Investment does not tell us anything about their trading platform on their website.

Real – legitimate – brokers will go out of their way to advertise their trading platform on their website. This is because the trading platform is a broker’s one and only product offering. So, they obviously need to offer the best possible software to attract customers to their online brokerage.

When a broker keeps quiet about their trading platform, it is a clear sign that we are dealing with an untrustworthy entity.

We registered for an account with this broker to check for ourselves what kind of platform they actually had to offer, and we found out why this broker did not say anything about their trading platform.

The trading platform this broker offers is of such poor quality that it is barely functional. In fact, it wouldn’t even qualify as a trading platform since it cannot even perform basic trading functions.

The lack of a quality trading platform is a clear indication of a scam.

No Trading Conditions

The product offering a broker has (trading platform) comes hand in hand with their service offering – their trading conditions. These conditions are what tell you how much a trade will cost, what the risk levels are, how fast will a trade be executed and so on. Without this information it is almost impossible for a trader to tell whether it would be advantageous to deal with a broker or not.

With UrbanGrowth Investment, we are only told the investment amounts. No trading conditions are mentioned at all. This lack of transparency is another sign that we are dealing with an untrustworthy scammer.

Returns on Investment Promised

UrbanGrowth Investment promises their clients guaranteed returns on their investments. This is massive red flag that tells us that we are dealing with a scammer.

The forex market is hugely unstable. Which means that most traders lose money on their investments. Profits are rarer. Therefore, brokers are legally expected to display what percentage of their clients have faced losses while speculating on the market. This figure ranges between 75% to 85%. So, any broker that promises you will make profits is simply lying and is out to scam you with false promises.

Single Payment Method

The only way that you can make payments with UrbanGrowth Investment is via cryptocurrencies. This is a dead giveaway of a scam. Crypto payments are all permanent and anonymous, so if this is the only payment method that your broker offers, then you know that you are dealing with a scammer.

Conclusion

UrbanGrowth Investment is a scammer and dealing with this broker would be a sure way for you to lose your funds.