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Score

5.75 /10
Average

uTrada

Hong Kong

5-10 years

Regulated in Malaysia

Straight Through Processing(STP)

MT4 Full License

Regional Brokers

https://utrada.com

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Score

Regulatory Index3.92

Business Index7.13

Risk Management Index9.63

Software Index8.81

License Index3.92

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uTrada · Company summary
uTradaReview Summary
Founded2018
Registered Country/RegionHong Kong, China
RegulationLFSA
Market Instruments2,100+, Forex, Commodities, Indices, Shares, Energies, Cryptocurrencies
Demo Account✅
LeverageUp to 1:500
Spread1.8 pips (Standard account)
Trading PlatformMT4, MT5, UT App
Copy Trading✅
Min Deposit$50
Customer SupportLive chat, contact form
Tel: +60 87 428898
Email: support@utrada.com, contact@utrada.com
Social Media: Discord, Twitter, Facebook, Instagram, Linkedin, YouTube
Regional RestrictionsAfghanistan, Belarus, Central Africa Republic, Cuba, Democratic Republic of Congo (DRC), Ethiopia, Guinea-Bissau, Iran, Iraq, Lebanon, Libya, Mali, Myanmar, Nicaragua, North Korea, Somalia, Sudan, South Sudan, Syria, Russia, Ukraine, United States, Venezuela, Yemen and Zimbabwe

Founded in 2018, uTrada is a forex broker registered in Hong Kong, China, offering more than 2100 market products, such as FX, commodities, indices, energy, shares, and cryptocurrencies, with leverage up to 1:500 and variable spreads from 0 pips via the MT4, MT5, and UT App platform. Demo accounts are available and the minimum deposit requirement to open a live account is $50.

Pros and Cons

ProsCons
Regulated by LFSARegional restriction
Wide range of market offeringsNo info on payment methods
Demo accounts available
MT4 and MT5 supported
Low minimum deposit
No deposit/withdrawal fees
Multiple contact channels

Is uTrada Legit?

No, uTrada currently operates under the Labuan Financial Services Authority (LFSA), holding a Straight Through Processing (STP) (No.MB/19/0042).

Regulated CountryRegulated AuthorityCurrent Status Regulated EntityLicense TypeLicense Number
Malaysia
Labuan Financial Services Authority (LFSA)RegulateduTrada LimitedStraight Through Processing (STP)MB/19/0042
Regulated by LFSA

What Can I Trade on uTrada?

uTrada asserts to provide more than 2100 tradable products including forex, commodities, indices, energies, shares, and cryptocurrencies.

Trading AssetAvailable
forex✔
commodities✔
indices✔
shares✔
energies✔
cryptocurrencies✔
bonds❌
options❌
ETFs❌
What Can I Trade on uTrada?

Account Type

For consumers who wish to try its platform without having to risk any money, uTrada provides a free demo account.

Besides, uTrada provides three different live trading account kinds with distinct features: Ultra, Premium, and Standard.

Account TypeUltraPremiumStandard
Execution TypeECNSTPSTP
Min DepositUSD 100USD 50USD 50
Account comparison

Leverage

uTrada offers leverage up to 1:500. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Fees

Account TypeUltraPremiumStandard
Spread0.0 pips1.2 pips1.8 pips
Commission (per lot)USD 7USD 0USD 0

Trading Platform

uTrada offers top-ranked MT4 and MT5platforms. In addition, uTrada also offers an incoming application called UT App which is available to download on both Apple Store and Google Play.

Trading PlatformSupported Available Devices Suitable for
MT4✔Desktop, Mobile, WebBeginners
MT5✔Desktop, Mobile, WebExperienced traders
UT App✔Mobile/
MT4
MT5
UT App

Deposit and Withdrawal

uTrada doesn't openly reveal any info on payment methods. We only know that they seem to charge no deposit and withdrawal fees.

User Reviews

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Isla Brown
more than one year
User-friendly platform with great charting tools.
User-friendly platform with great charting tools.
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2024-07-22 14:47
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Natsuki H., Hyogo
more than one year
The spreads are too big, I feel like I'm paying more than I should every time I trade... There are hidden fees that I don't like. It's frustrating to find out I have to pay more than I expected after I've made a trade. I wish the costs were easier to understand... 💔💔💔
The spreads are too big, I feel like I'm paying more than I should every time I trade... There are hidden fees that I don't like. It's frustrating to find out I have to pay more than I expected after I've made a trade. I wish the costs were easier to understand... 💔💔💔
Translate to English
2024-06-28 15:50
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