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UPFOREX

Severe riskForex / CFD broker
🇲🇺 Mauritius · 5-10 years · since 2019-04-16 · UP Global Markets Ltd
Unregulated
Visit site ↗
—/5
★★★★★ ★★★★★
1 reviews ›
0
Licenses ›
1
Withdrawal issues ›
$100
Min. deposit ›
1:300
Max leverage ›
3
Account types ›
75/100
Scam risk ›
0
Clone sites ›
Accounts: Pro-ECN · $ 1000Elite-ECN · $ 5000Standard · $ 100
▲ 100% positive▼ 0% negative
Independent ratingshow third parties score this broker
WikiFX2.3/10
Trustpilot—/5
Forex Peace Army—/5
🛡️ Been scammed or can’t withdraw from UPFOREX? Our free assistant writes up your case and shows exactly what to do next →
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No sign that UPFOREX actively operates in your country (United States). If you were solicited from here, be extra cautious — it may be an unregulated approach or a clone.
75
Severe risk
Scam Risk Scoremonitored · 2026-07-28
Lower riskHigher risk
  • No verified regulatory license on file
  • Registered in Mauritius (offshore, light oversight)
  • Withdrawal complaints in ~100% of recent reviews
How this score is calculated — view the open algorithm

A transparent weighted score from objective public data — each factor scored 0–100 (higher = riskier), combined by the weights below.

FactorScoreWeight
Regulation & licensing8535%
Company age2215%
Clone / impersonation012%
Withdrawal & exposure complaints612%
Offshore registration808%
Transparency (site/info/social)2510%

Based on public regulatory records, industry databases and independent reviews (Trustpilot, Forex Peace Army). Exit Risk reflects recent negative momentum in real reviews. A risk estimate from public data, not a definitive legal judgment; brokers may request a correction.

Company
Legal nameUP Global Markets Ltd
Headquarters🇲🇺 Mauritius
Founded2019-04-16
Years operating5-10 years
Employees0
Official websiteupforex.com
Trading conditions
Avg execution speed0 ms
Avg slippage0
Swap rating—
Trading cost rating—
Monitored traders0
Monitored orders0
Funding & instruments
Deposit methods · --
Withdrawal methods · --
InstrumentsForexMetalsFuturesSharesand Cash CFDs
Registered address
4th Floor, Docks 4, The Docks, Caudan, Port Louis, Mauritius

Regulation & licenses · 0

No valid regulatory license found — high caution advised.

Account types · 3

AccountMax leverageMin. depositMin. spreadCommissionEA
Pro-ECN1:300$ 1000From 0$7/Round lot✓
Elite-ECN1:300$ 5000From 0.1--✓
Standard1:300$ 100From 0.1--✓

Review analysis AI

UPFOREX presents itself as a global forex broker but operates without verified regulation, a significant red flag. While its website claims FSC and SCA licenses, our records show no regulatory oversight. Combined with high leverage and limited public information, the broker poses substantial risk. Traders should consider this an unregulated entity and exercise extreme caution.

Best for
  • Traders seeking high leverage up to 1:300
  • Those interested in ECN-style accounts with low spreads
  • Traders comfortable with MT5 platform
  • Traders looking for multi-asset exposure including forex and CFDs
Not for
  • Risk-averse traders who prioritize regulatory protection
  • Traders requiring segregated accounts or compensation schemes
  • Investors seeking brokers with transparent regulatory oversight
Period:
What users praise
Where reviewers are from
India1

Real user reviews

Where UPFOREX operates

Active across 2 markets (by market presence). Licensing rarely covers all of them — where it isn’t locally licensed, you’re onboarded under an offshore entity with weaker protection.

🇲🇾 Malaysia
🇮🇳 India

Market presence: WikiFX SkyEye · complaints: our records · licensing: official registers. Where you’re accepted is set by the broker’s own terms — always confirm before depositing.

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What UPFOREX says about itself as stated by the broker · not independently verified by FXCanary

Globally Trusted & Regulated Platform

UPFOREX markets itself as a globally trusted and regulated forex trading platform, claiming to be licensed by the Financial Services Commission (FSC) of Mauritius under License No. GB25204570, and its UAE affiliate as regulated by the Securities and Commodities Authority (SCA). The broker asserts it provides next-generation forex trading solutions with advanced technology, deep liquidity, and real-time withdrawals.

Account Types and Trading Conditions

The broker offers three account types: Standard, Pro-ECN, and Elite-ECN. According to its website, the Standard account requires a minimum deposit of $100, offers floating spreads from 0.1 pips, and zero commission. The Pro-ECN account starts at $1000, with spreads from 0 pips and a commission of $7 per round lot. The Elite-ECN account requires $5000, floating spreads from 0.1 pips, and zero commission. All accounts provide leverage up to 1:300, use MetaTrader 5, and cover instruments including Forex, Metals, Shares, and Cash CFDs.

Platform and Instruments

UPFOREX states it provides the MetaTrader 5 (MT5) platform on Windows, Mac, iOS, Android, and Web Terminal. It claims access to a wide range of markets: Forex, stock CFDs, indices, commodities (precious metals and oil), and cryptocurrency CFDs. The broker emphasizes zero-commission trading on certain account types and ultra-tight spreads.

Target Audience and Features

The broker positions itself as suitable for both retail traders and professional investors, as well as Introducing Brokers (IBs). It advertises a free demo account, trading calculators, market analysis, and a trading academy. Its website highlights 'smart trading for a global market edge' and 'real-time withdrawals' as key selling points.

About UPFOREX

Company Overview

UPFOREX is an online forex and CFD broker established on April 16, 2019, and registered in Mauritius. Its registered address is at 4th Floor, Docks 4, The Docks, Caudan, Port Louis, Mauritius. The broker operates the website upforex.com and offers trading in Forex, Metals, Futures, Shares, and Cash CFDs. It claims to be a 'globally trusted' platform, though our records indicate no verified regulatory licenses on file.

Regulatory Status

According to our records, UPFOREX has no regulators on file, meaning it does not hold a valid license from any known financial authority. However, the broker's own website asserts regulation by the FSC Mauritius and SCA UAE. We were unable to independently verify these claims against official registries. This discrepancy is a significant concern for traders who rely on regulatory oversight for fund security.

Account Types and Minimum Deposits

UPFOREX provides three account tiers: Standard, Pro-ECN, and Elite-ECN. The Standard account has a minimum deposit of $100, making it accessible for retail traders. The Pro-ECN account requires $1000, and the Elite-ECN account requires $5000. All accounts offer maximum leverage of 1:300, which is relatively high and carries substantial risk. The broker does not disclose margin call or stop-out levels in available materials.

Trading Platform and Instruments

The broker offers the MetaTrader 5 (MT5) platform, a widely used multi-asset platform supporting desktop, mobile, and web versions. Instruments available include forex pairs, metals (gold, silver), futures, share CFDs, and cash CFDs. The website also mentions indices and cryptocurrency CFDs, though these may fall under the 'Cash CFDs' category. The platform supports fast execution and competitive pricing, according to the broker.

Risks and Considerations

The absence of verified regulatory oversight means that client funds may not be protected by compensation schemes or segregated account requirements common in regulated jurisdictions. The high leverage of 1:300 can amplify both profits and losses. Traders should exercise extreme caution and conduct thorough due diligence before depositing funds. The broker's claims of regulation should be independently verified with the respective authorities.

Overview compiled by FXCanary from regulatory records and public data. full UPFOREX review