Is uTrader a Scam or Legit Broker? Review Uncovers The Shocking Truth

There is no doubt that binary trading is as exciting as sports betting and it has the potential to generate quick profits and this is what attracts millions of traders across the globe. uTrader is considered as a promising opportunity in this regard…

uTrader Broker Website Screenshot

uTrader facilitates the traders with over 90 assets. It promises zero fee and no spreads. The platform promises up to 85% profit (CFDs) and 650% profit (One Touch).

Legitimacy is the key when selecting an online trading platform and unfortunately, 90% of the online platforms are NOT regulated. This is why online trading becomes risky at times. But the problem is not with the market itself, it is the wrong and careless decision making that costs the traders. Let’s see if uTrader scam reviews are true or this platform is a real deal.

uTrader Review Summary

Cost: $250+

Recommended: No (See Our Top Ranked Legit Program Here)

Rating: 0/100

Summary: At a glance uTrader appears to be regulated which seems reassuring however upon taking a closer look you’ll realize that the body that’s offered them the license is actually a private body – not an official government body. This shady tactic, coupled with the fact that there have been many uTrader withdrawal complaints leads us to believe that uTrader is indeed another binary options scam & therefore we do NOT recommend them whatsoever.

Quick Navigation

We appreciate that you may just be looking for some specific information on uTrader so for that reason to make your life easier we have put together some quick navigation links below which you can use to jump straight to the section that you’re looking for.

 

uTrader Background

uTrader Day Dream Investments Ltd. Trust Company Complex owns and operates uTrader.

Address: Ajeltake Road, Majuro, Marshall Islands.

Sliven 8800, Complex Stoyan Zaimov, Block 69, 4 Yako Katsarov Street, Bulgaria.

  • Web. www.en.utrader.com
  • Skype. utrader.helpdesk
  • Email. support.en@utrader.com
  • Phone. +44 208 077 3096

uTrader has a strong history as the company has been operating since 2011 and it is good to see that the website is still operating. Most of the pre-2015 online trading platforms have disappeared for good.

Well, it confuses us. The platform is still operational after 8 years but the off-shore address triggers the alarm. We all are aware of the virtual offices operating from Ajeltake and this place is the happy hunting ground for the scam artists.

uTrader news updates are quite helpful and the web administrators are doing a great job to keep the clients aware of the latest market trends. But we are not so sure about their team of financial analysts. Live webinars are quite ordinary.

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Is uTrader Regulated?

uTrader is NOT regulated by CySEC, FCA or any other reliable state-owned regulatory authority. Instead, the company is regulated by a private Russian regulator, Financial Market Relations Regulation Center (FMRRC).

The fact is that the company kept making unsuccessful attempts to acquire a license from CySEC. For one reason or the other, CySEC didn’t award the license and this is what gives birth to various doubts.

FCA (UK) was the first to blacklist uTrader. CySEC followed FCA on 13-12-2016 by issuing a public warning against the platform. Next in the list is the CFTC (US) warning issued on 25-4-2017.

On 19-05-2017, HCMC (Greece) warned against uTrader. BCSC then jumped in to warn against Day Dream Investments Ltd. (29-11-2017).

It is clear that the administration was frustrated after receiving so many warnings and finally decided to seek refuge with a private regulator. It is just to reduce the intensity of ever-increasing pressure imposed by the regulatory authorities. FMRRC regulation is better than nothing at all, but beware, don’t expect FMRRC to refund your lost money.

uTrader Complaints

Traders have complained about the affiliation of uTrader with robot-scams. We have realized that the platform doesn’t mention the provision of Binary Options and the web content seldom talks about it but we were surprised to know that the broker is actually offering Binary Options but replaces the term with Digital Options. On the contrary, the website talks about CFDs and Forex but the platform doesn’t really offer anything like this.

The clients have now realized that the webinars feature fake analysts. They are not financial experts. This is disappointing. Some clients trusted their tips and faced disappointment and later they realized that the individuals featuring the webinars are actually using fake names, they are local actors who fulfil their ambitions for a few bucks.

Now comes the most alarming complaint. We have also verified it by going through the terms and conditions. The web content states that the company requires up to 6 months to process a withdrawal of over $10,000. The amount will be transferred in partial transactions. Well, that is something extremely surprising. We are talking about a broker who isn’t sure about its liquidity.

uTrader Withdrawal

uTrader requires up to 7 working days to process a withdrawal. A withdrawal of more than $10,000 requires up to 6 months. The broker accepts Credit/Debit Cards, Orangepay, Qiwi, Neteller, Skrill, and WebMoney.

$25 is the minimum withdrawal limit. $12 is the fee for each withdrawal (First withdrawal of each month is free). $25 is the withdrawal fee if you opt for Wire Transfer.

Is uTrader a Scam?

There have been a number of public warnings issued against uTrader. But the platform is still there. It has also acquired a license from a private regulator. On the contrary, the virtual off-shore address is not a good sign. The company tried hard for a couple of years but failed to get a CySEC license. The complaints are serious and the withdrawal policy for over $10,000 is also demoralizing. Things are not really encouraging. The company has tried hard to hold on but it doesn’t manage to please its clients. uTrader scam warnings are serious and you need to avoid any thought that might have motivated you to try this platform.

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Our Verdict on uTrader

Thumbs Down

We DO NOT recommend uTrader because the team of analysts is fake and you don’t really have the real physical address. All you know is the virtual off-shore address which means nothing. The regulatory authorities have refused to approve the company’s application for a license. The terms and policies are confusing. It looks as if a non-native paraphraser has written content for their website without understanding the real meaning of these policies. Stay safe, just reject the idea of thinking about uTrader. Our verdict; another broker bites the dirt!

Scammed By uTrader? Get Your Money Back

Since posting this review it has come to our attention (due to a number of scam reports about uTrader) that a lot of people feel they have been scammed by uTrader – and if this is you, then you can rest assured that you have landed in the right place.

The reason we say that is because we have put together a free money reclaim guide which shows you exactly, step by step, how you can get your money back from binary options scammers. So if you have lost money to uTrader then we are extremely confident that our guide will be able to help you as it has helped thousands of others already to this date.

As we say the guide is completely free & you can get access to it right now by clicking here – so if you have been scammed by uTrader then we highly advise that you go ahead & check it out.

A Much Better Way To Make Honest Money

The truth is here at Stopping Scammers we do not recommend trading at all & if you follow our reviews you will likely already know that. The reason we don’t recommend it is simply because we believe it is far too risky.

In our opinion there is simply no need to put your money at risk when there are so much more better, legitimate & risk free ways of making money online.

And we have come across many of these legitimate ways to make money whilst carrying out our investigations, but out of them all there has been 1 in particular that has stood out from all of the others. As a result we have named it our number 1 recommendation for working from home & you can get access to it for free by clicking the link below:

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About the Author:
Hi, I'm Dale, the founder of Stopping Scammers. I fell victim to an online scam many years ago & I launched this website, as a result, to protect others from making the same mistake. I now earn a living working online after discovering a legitimate method called affiliate marketing & I aim to share what I've learned to help others to do the same. You can report a scam here or you can see the legitimate methods for earning online here. I truly hope you find this website helpful.

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