Updown Club Review

Rating: 

Differentiating good and reliable brokers from the bad and dishonest ones can be quite a challenging task, and you need to have a lot of experience in the business to properly assess the company. However, the more we know about a particular enterprise, the easier it gets to classify the broker, and that is one of the reasons why our Updown Club review is written with so many details. We want to present the company in an unbiased and realistic manner, and this will later allow our readers to make their decision and sign up with this broker or continue their search for a trading provider elsewhere.
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Min. Deposit: $1                Demo: Yes

Platform: Custom              Bonus: N/A

Regulation: N/A                  US Clients: No

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Updown Club binary broker at a glance

The first thing that indicates a possible Updown Club scam is the lack of regulations, and this broker is not licensed by any of the reputable governing bodies. We do not recommend trading with unregulated brokers, and even though this company is just starting its journey in the Forex waters – a lot of suspicious activities are connected with Updown Club. For instance, their website is operated by Capital Markets Ltd., which is an offshore company registered in Vanuatu, but the actual owner of the broker house is a trading conglomerate from New Zealand called “Spinifex Corporate Solutions Ltd”. Also, US clients are prohibited from trading on this site.

How to start trading with Updown Club

Types of trading accounts are an important element of a broker company, and all Updown Club reviews will focus on this segment. However, the website of this so-called broker is very poor in information, and lack of relevant facts can also be a red flag for a potential fraudulent operation. In case you still want to go through and invest with Updown Club, you will need only $10 to register an account, and the site claims that everything can be finished as soon as you enter your e-mail address?! Demo account is also available, and you will be “rewarded” with $1000 of virtual money, but this offer is time-limited and it expires in 24 hours.

updown club broker review

Updown Club reviews: Trading Platform

The importance of a high-quality trading portal is immense in today’s world, and that is why Forex brokers usually decide to hire a third-party company to provide them with software solutions. In the case of Updown Club broker, this idea did not go so well, and their trading portal is based on a platform created by Exante Technology. This software is not necessarily bad, but it can be very confusing for new traders, and it has an unusual appearance and layout. Updown Club offers 45 types of assets, including 7 Forex pairs, 23 stocks, 4 commodities, and 11 indices.

updown club broker trading instruments

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Updown Club broker bonus features

We base our Updown Club opinion on a broad range of factors, and one of those elements are bonuses and promotions. Unfortunately, unregulated brokers and scam sites can promise whatever they want since they are not afraid of receiving a bad feedback and they can quickly “vanish into thin air” once they get a hold of your hard-earned funds. When it comes to this broker in particular, they are offering a first deposit bonus and a $10 no deposit bonus.

Updown Club review of the payment options

Same day withdrawals and similar promises are also a common sign of unrealistic promises. Updown Club is offering several banking methods which you can use to transfer the funds to and from your account, but the vast majority of Updown Club opinions will advise you against taking such an action. However, if you are determined to willingly take the risk, credit cards and bank wire transfer are available with this broker company, and you can also use e-wallet services, including Neteller, Skrill, and WebMoney.

Updown Club review of the payment options

The quality of customer support at Updown Club broker

The account application is not complicated. This means that uBinary does not want to know you, but instead prefers to receive your further deposits only. This being an unfair strategy, it is one of many reasons why uBinary must avoided. Remember about uBinary complaints, do not let the scam deceive you.

The final word

As you could see from our Updown Club FX broker review, this company does not seem to be a reliable and professional trading provider. The lack of valid license and a highly confusing interface of their software platform are the most prominent reasons for our negative opinion, but the list does not stop there, and that is why you should avoid trading with Updown Club.

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Conclusion
Date
Item
UpDown Club
Rating
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