Below is a comprehensive analysis of UPFX Ltd, based on the requested criteria, including online complaints, risk level assessment, website security, WHOIS lookup, IP and hosting analysis, social media presence, red flags, regulatory status, user precautions, and potential brand confusion. The analysis draws on available information, critically evaluated to provide an objective assessment.

1. Online Complaint Information ¶

Multiple sources report significant user complaints about UPFX, particularly regarding withdrawal issues and poor customer service:

• Withdrawal Problems: Users have reported being unable to withdraw funds, with balances visible in MetaTrader 5 (MT5) but not reflected in the broker’s system. Complaints indicate that management is unresponsive, with some users citing groups of up to 10 traders facing similar issues. One user mentioned $1,680 stuck with UPFX due to withdrawal refusals.
• High Spreads: Traders have complained about excessively high spreads, such as 30 pips on EUR/USD, far above industry averages (typically 1-2 pips for major pairs).
• Poor Customer Service: Reports highlight rude or unresponsive support, with emails and inquiries often ignored.
• Historical Complaints: Older reviews (2011-2012) on platforms like Forex Peace Army initially praised UPFX for fast withdrawals and good service, but more recent complaints (2021-2023) suggest a decline in reliability. Assessment: The volume and consistency of withdrawal-related complaints, coupled with unresponsive support, raise serious concerns about UPFX’s operational integrity. The shift from positive to negative feedback over time suggests potential deterioration in service or fraudulent practices.

2. Risk Level Assessment ¶

UPFX is consistently flagged as a high-risk broker due to several factors:

• Lack of Regulation: UPFX operates without oversight from reputable financial regulators (see Regulatory Status below). Unregulated brokers pose significant risks, as client funds lack legal protection.
• Traders Union Score: Traders Union assigns UPFX a low overall score of 1.67/10, citing poor client satisfaction and high risk. Most reviews on their platform indicate negative experiences.
• Scam Allegations: Multiple sources, including BrokersView and WikiFX, label UPFX as a scam due to its unlicensed operations and misleading claims.
• Trading Risks: High leverage (up to 1:400) and volatile spreads increase financial risk, particularly for inexperienced traders. Assessment: UPFX’s unregulated status, poor user feedback, and scam allegations place it in the high-risk category. Traders face substantial financial and operational risks when dealing with this broker.

3. Website Security Tools ¶

The security of UPFX’s website (https://www.upfx.com/) can be evaluated based on available data:

• SSL Certificate: The website uses a valid SSL certificate, ensuring encrypted communication between users and the server. This is a standard security measure but does not guarantee legitimacy, as scammers often use free SSL certificates.
• Website Vulnerabilities: No specific reports of data breaches or cyber attacks targeting UPFX’s website were found. However, the lack of transparency about the company’s security practices (e.g., no mention of two-factor authentication or data protection policies) is concerning.
• Scamadviser Rating: Scamadviser gives upfx.com a relatively high trust score, citing an SSL certificate and long domain registration. However, it warns that this does not guarantee legitimacy, as scammers can mimic these features. Assessment: While the website has basic security (SSL), the absence of detailed security policies and the broker’s questionable reputation suggest caution. Traders should avoid sharing sensitive information until legitimacy is verified.

4. WHOIS Lookup ¶

A WHOIS lookup provides insight into the domain’s registration details:

• Domain: upfx.com
• Registration Date: The domain has been registered for several years, which Scamadviser notes as a positive sign, as long-term registration suggests intent to maintain operations.
• Registrar: The domain is registered through a service that hides the owner’s identity, a common practice for both legitimate and fraudulent entities. This lack of transparency raises concerns, as reputable brokers typically provide clear company details.
• Location: The website claims UPFX is based in Belize, but no verifiable address is provided, and the WHOIS data does not confirm this. Assessment: The hidden ownership and lack of verifiable location details are red flags. Legitimate brokers typically provide transparent registration information to build trust.

5. IP and Hosting Analysis ¶

• Hosting: The website’s hosting provider is not explicitly identified in the provided data, but Scamadviser notes that the hosting country impacts legitimacy assessments. Without specific IP or hosting details, it’s challenging to evaluate server security or location.
• Server Location: UPFX claims to operate from Belize, but no evidence confirms the server’s physical location. Discrepancies between claimed and actual server locations can indicate fraudulent operations.
• Performance: No reports of downtime or slow website performance were found, but this does not offset other concerns. Assessment: The lack of transparent hosting information and unverified server location align with patterns seen in unregulated brokers. Traders should be cautious, as this opacity could mask operational risks.

6. Social Media Presence ¶

• Limited Presence: UPFX’s social media presence is minimal, with no prominent official accounts on platforms like Twitter, Facebook, or LinkedIn mentioned in the data. Some brokers use social media to engage clients, but UPFX appears to rely on its website and trading platforms.
• Social Trading Feature: UPFX offers a “Social Trading” feature, allowing users to follow and replicate trades of others. While this can be legitimate, it’s often used by scam brokers to lure novice traders with promises of easy profits.
• Red Flags: The absence of active social media engagement is unusual for a broker claiming global operations. Scam brokers often avoid public platforms to limit scrutiny. Assessment: The lack of a verifiable social media presence and reliance on a potentially misleading “Social Trading” feature suggest UPFX avoids public accountability. This is a moderate red flag.

7. Red Flags and Potential Risk Indicators ¶

Several red flags and risk indicators emerge from the analysis:

• False Regulatory Claims: UPFX claims licenses from IFSC (Belize), CySEC (Cyprus), ASIC (Australia), and NFA (USA), but searches with the provided license numbers (e.g., IFSC 173474, ASIC 072 424 830, NFA 0537666) yield no valid results. These claims are demonstrably false, indicating intent to mislead.
• Unregulated Status: The broker operates without oversight from any recognized regulator, increasing the risk of fraud and fund mismanagement.
• Misleading Company Information: UPFX claims to be a Belize-based subsidiary of the “Lepanto Group” under “Ultimate Pinnacle,” but no records exist in Belize’s IFSC registry to verify this.
• High Spreads and Fees: Complaints about 30-pip spreads and undisclosed non-trading fees (e.g., withdrawal or inactivity fees) suggest predatory practices.
• Withdrawal Issues: Consistent reports of blocked or delayed withdrawals are a hallmark of scam brokers.
• Lack of Transparency: The website lacks critical details, such as a physical address, company ownership, or clear terms for fees and withdrawals.
• Counterfeit Dealer Warning: WikiFX explicitly labels UPFX as a “counterfeit dealer,” advising traders to avoid it due to fraudulent practices. Assessment: The combination of false regulatory claims, unverifiable company details, and operational issues like withdrawal refusals strongly indicates that UPFX is a scam broker.

8. Website Content Analysis ¶

The UPFX website (https://www.upfx.com/) contains several concerning elements:

• Misleading Claims: The homepage asserts UPFX is a “multi-regulated” broker with licenses from IFSC, CySEC, ASIC, and NFA. These claims are false, as no such licenses exist.
• Vague Company Details: The site mentions a Belize-based entity under the “Lepanto Group” but provides no verifiable address or registration proof.
• Trading Platforms: UPFX offers MetaTrader 5 (MT5), a legitimate platform, but its use does not guarantee broker reliability. Scam brokers often leverage trusted platforms to appear credible.
• Account Types: The website lists Standard, Pro, and ECN accounts with minimum deposits from $100 to $5,000. However, limited details on fees and conditions raise concerns about hidden costs.
• Lack of Educational Resources: The site offers minimal educational content, which is unusual for a broker targeting novice traders.
• Contact Options: Support is limited to a contact form, with no phone number or live chat available outside account setup. This restricts user access to help. Assessment: The website’s false regulatory claims, vague company information, and limited support options are consistent with scam broker tactics. The professional appearance (e.g., MT5 integration) may be a facade to attract unsuspecting traders.

9. Regulatory Status ¶

UPFX’s regulatory status is a critical concern:

• Claimed Licenses: UPFX claims regulation by:
• IFSC (Belize): Registration number 173474 is not found in IFSC records.
• CySEC (Cyprus): No valid license exists under UPFX or its claimed parent company.
• ASIC (Australia): ACN 072 424 830 does not match any registered broker.
• NFA (USA): License numbers 0537666 and 0554496 are either unauthorized or exceed NFA’s non-forex scope.
• Actual Status: UPFX is unregulated, operating without oversight from any recognized financial authority. This leaves client funds unprotected and increases the risk of fraud.
• Comparison: A separate entity, UniTrader EAD (also linked to UPFX in some reviews), claims regulation by Bulgaria’s Financial Supervision Commission. However, this applies to a different website and does not validate upfx.com’s operations. Assessment: UPFX’s false regulatory claims are a deliberate attempt to deceive traders. Its unregulated status confirms it is not authorized to operate in any regulated jurisdiction, making it highly risky.

10. User Precautions ¶

To protect themselves, users should take the following precautions:

• Avoid Depositing Funds: Given the scam allegations and withdrawal issues, do not deposit money with UPFX.
• Verify Regulation: Always check a broker’s license directly with regulators (e.g., IFSC, CySEC, ASIC, NFA) rather than trusting website claims.
• Use Demo Accounts: If considering UPFX, test its platform with a demo account to assess functionality without risking real money.
• Secure Payment Methods: If funds have been deposited, avoid sharing additional banking or credit card details. Cancel cards used for deposits and change online banking passwords immediately.
• Report Issues: Submit complaints to financial regulators or platforms like BrokersView if you encounter issues.
• Beware of Recovery Scams: Avoid “recovery agencies” promising to retrieve lost funds, as they often charge upfront fees without delivering results.
• Research Alternatives: Choose brokers regulated by reputable authorities (e.g., FCA, ASIC, CySEC) with transparent operations and positive user reviews. Assessment: Traders must exercise extreme caution with UPFX, prioritizing regulated brokers to minimize financial risks.

11. Potential Brand Confusion ¶

UPFX’s branding and operations may cause confusion with other entities:

• Universal Partners FX (upfx.co.uk): This UK-based firm, regulated by the FCA (FRN 820037), offers currency risk management and payment services. It is unrelated to UPFX Ltd but shares a similar name, potentially causing confusion.
• UniTrader EAD: Some reviews link UPFX to UniTrader, a Bulgarian-regulated broker. However, UniTrader operates under a different website and regulatory framework, suggesting either a rebrand or deliberate obfuscation by UPFX.
• Other Brokers: Similar names like EPFX (regulated by ASIC and FSCA) or upsfx.com (a newer domain with limited data) could confuse traders. EPFX is a distinct, regulated broker, while upsfx.com’s legitimacy is unclear due to its recent registration.
• Misleading Affiliations: UPFX’s claim of being part of the “Lepanto Group” or “Ultimate Pinnacle” lacks verification, potentially creating a false sense of legitimacy through fabricated affiliations. Assessment: The similarity between UPFX and regulated entities like Universal Partners FX or UniTrader could mislead traders into assuming legitimacy. UPFX’s unverified affiliations further exploit this confusion.

12. Overall Conclusion ¶

UPFX Ltd, operating via https://www.upfx.com/, exhibits numerous characteristics of a scam broker:

• Critical Red Flags: False regulatory claims, unregulated status, withdrawal issues, high spreads, and unresponsive support strongly indicate fraudulent operations.
• High Risk: The lack of oversight, poor user reviews, and scam allegations make UPFX a high-risk choice for traders.
• Website Concerns: While the site uses SSL and offers MT5, its misleading claims and lack of transparency undermine credibility.
• Brand Confusion: Similarities with regulated entities like Universal Partners FX or UniTrader may deceive users, requiring careful verification.
• Recommendation: Traders should avoid UPFX due to its unregulated status and documented issues. Opt for brokers regulated by reputable authorities (e.g., FCA, ASIC, CySEC) with transparent operations and positive user feedback. Final Advice: If you have already engaged with UPFX, attempt to withdraw funds immediately, secure your financial accounts, and report issues to relevant authorities. For future trading, prioritize due diligence, including direct regulatory checks and independent reviews, to ensure safety.