GREENUP24

GreenUp24 is a retail forex and CFD broker that began operations in July 2024, registered in Saint Lucia as Greenup Ltd. The broker's official website is greenup24.com. It offers trading services primarily through the MetaTrader 5 platform, providing access to forex, indices, cryptocurrencies, metals, and commodities.

The broker is headquartered in Saint Lucia with a registered address at Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet. Its business address, listed for correspondence, is in Dubai Investment Park, United Arab Emirates. GreenUp24 targets both new and experienced traders with two distinct account types.

GreenUp24 is registered in Saint Lucia under the name Greenup Ltd with registration number 2024-00067. However, it holds no financial regulatory license from any recognized financial authority. The broker states it is 'regulated by the International Anti-Money laundering standards' but does not specify a specific regulator. This means traders do not have access to protections such as compensation schemes or oversight from bodies like the FCA, CySEC, or ASIC.

In FXCanary's assessment, the absence of a verifiable regulatory license is a significant factor for traders to consider. The broker's claims of being 'regulated' appear to refer to general compliance with anti-money laundering standards rather than a financial conduct regulator.

GreenUp24 offers two account types: Standard and ECN Pro. The Standard account has a minimum deposit of $100, floating spreads, no commission, and maximum leverage of 1:500. This account is designed for beginners. The ECN Pro account requires a minimum deposit of $300, offers zero spreads, and is intended for professional traders. Both accounts provide high leverage up to 1:500, which carries significant risk.

The broker does not explicitly state the spread ranges or trading costs beyond saying they are 'tight' and 'low'. Additional details commission structures for the Standard account are not provided, but the ECN Pro is advertised with zero spreads. The use of 1:500 leverage is notably high and is not permitted in many regulated jurisdictions.

The broker exclusively uses the MetaTrader 5 (MT5) platform, which is widely recognized for its advanced charting tools, algorithmic trading capabilities, and multi-asset support. GreenUp24 claims it has passed the approval stages required by MetaQuotes to offer MT5, but this claim could not be independently verified.

GreenUp24 lists access to 103 currency pairs, 12 stock indices, over 139 cryptocurrencies, metals, commodities, and stocks. This broad range of instruments allows traders to diversify within a single platform. However, the actual availability of specific assets may vary based on market conditions and the broker's liquidity providers.

The broker advertises instant deposits and zero commission on deposits and withdrawals. Specific payment methods are not detailed on the website, but common methods for such brokers include bank transfers, credit/debit cards, and cryptocurrencies. The broker's contact page lists support via Telegram and WhatsApp, along with an email and phone number.

Processing times and withdrawal fees are not disclosed. Since GreenUp24 is not regulated by a major financial authority, clients have limited recourse in the event of disputes. Traders should exercise caution and fully understand the terms before depositing funds.

GreenUp24 appears to target a global audience of retail traders, particularly those in regions with limited access to regulated brokers. The Standard account's low minimum deposit of $100 makes it accessible to novice traders, while the ECN Pro account appeals to experienced traders seeking tight spreads.

However, due to the lack of regulatory oversight and the availability of 1:500 leverage, the broker is best suited for experienced traders who understand the high risks involved. Beginners are advised to start with low leverage and only risk capital they can afford to lose. The broker's presence on Instagram and YouTube suggests a focus on younger, digitally-savvy traders.

GreenUp24 operates under the legal name Greenup Ltd, registered in Saint Lucia with number 2024-00067. The registered address is in Saint Lucia, while a nearby business address is located at 345-04 Schon Business Park, Building 598, Dubai Investment Park 1, Dubai, United Arab Emirates. Customer support is available via Telegram, WhatsApp, email (info@greenup24.com), and phone (+44 204 577 1962).

The registered number in Saint Lucia can be verified through the local registry, but as of this review, no additional public records were found. The discrepancy between the Saint Lucia registration and the Dubai address may be a point of concern for some traders.