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Up4Profit

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Operating status: SCAM

Website: https://up4profit.net/

Broker violations and abnormal records
  • 2023-04-13 BrokersView has Reviewed that Up4profit is an Unregulated Broker

    Up4profit claims to have received regulation from ASIC Australia and provided the regulation number on the homepage. After verification, this number is not a regulation number, but an ACN number

    There is no any regulatory information on its website. The truth is that ActiveBitSignal is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.


    Up4profit claims to have received regulation from ASIC Australia and provided the regulation number on the homepage. After verification, this number is not a regulation number, but an ACN numberThere is no any regulatory information on its website. The truth is that ActiveBitSignal is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

Related Complaints

Q&A

Hi, I was reminded by other people that Up4Profit is a scam. Is that true?

Larry burchard
Zambia
2023-04-19
ANSWER Up4Profit is an unlicensed broker that we advise against trading with despite the seemingly attractive deals it offers.Up4Profit claims to be the trading name of PROFITS PTY. LTD., authorized and regulated by the Australian Securities and Investments Commission (ASIC) under the license number 068068904. However, we searched for this company in the registry of the ASIC and found that the number it provides is actually an Australian Company Number (ACN), a unique, nine-digit number issued to companies in Australia when registered. It differs from Australian financial services (AFS) licence issued by the ASIC, which a broker must hold to conduct a financial services business. In other words, having registration doesn't necessarily mean having the authorization to provide financial services or products legally. Up4Profit is misrepresenting its regulatory status to deceive unsuspecting investors.Regarding your question, Up4Profit is a scam. Entrusting this broker to hold and control your funds or trading with it is highly risky, as there are no safeguards in place to prevent fraud or theft. Therefore, we strongly suggest investors avoid unlicensed brokers like Up4Profit and opt for fully regulated ones instead.
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FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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