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Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
uTrada, a trading name of uTrada Limited, presents itself as an STP broker registered in Labuan, Malaysia that claims to provide its clients with various tradable financial instruments with leverage up to 1:100 and variable spreads from 0.8 pips on the MetaTrader4, uTrada ProTrader and uTrada ProTrader (Demo) trading platforms, as well as a choice of two different live account types and 24/5 technical & account support service. Here is the home page of this brokers official site:
As for regulation, it has been verified that uTrada is regulated under Labuan Financial Services Authority (Labuan FSA), license number MB/19/0042. That is why its regulatory status on WikiFX is listed as “Regulated” and receives a relatively high score of 5.35/10. Please be aware of the risk.
uTrada advertises that it offers 5 asset types and more than 50 instruments to trade in, which include forex, commodities, index CFDs and single stock options.
Apart from demo accounts, uTrada claims to offer two types of live trading accounts, namely Classic and Premium. The minimum initial deposit amount is only $100 for the Classic account, while the Premium account requires a much higher minimum initial amount of $50,000.
The leverage provided by uTrada is capped at 1:100. 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.
Spreads & Commissions
uTrada claims that the spread and commission differ depending on account types and asset types. For example, the forex spread on the Classic account starts from 1.2 pips, while the Premium account holders can enjoy tighter spreads as low as 0.8 pips. As for commissions, the CFD commission on the Classic account is 0.3%, while the Premium account has a commission of 0.2%.
Trading Platform Available
Platforms available for trading at uTrada are MetaTrader4, uTrada ProTrader and uTrada ProTrader (Demo) on PC, iOS, Android and Webtrader. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.
Deposit & Withdrawal
The minimum initial deposit requirement at uTrada is said to be $100. However, the broker doesnt bother to reveal any information about the funding methods on its site directly.
uTradas website only states that it does not charge any fees for withdrawals submitted via the Online Cash Withdrawal Module. However, if you do have access to the Online Withdrawal Module but are submitting a withdrawal request via the manual Funds Withdrawal Form, a processing fee of SGD 50 will be applied.
uTradas customer support can be reached Mon-Thu: 9:30–20:00, Fri: 6:00–21:00, Sat: 10:00–15:00 by telephone: + 65 6509-3908 or email: firstname.lastname@example.org, email@example.com or live chat. You can also follow this broker on social networks such as Twitter. Head Office: Unit Level 11(A), Main Office Tower Financial Park Labuan, Jalan Merdeka 87000, Labuan Federal Territory Malaysia.
Pros & Cons
Zithobile Funcuza - Aug 19th, 2022
That was fantastic and amazing.
Platform registered country and region
Unit Level 11(A), Main Office Tower Financial Park Labuan, Jalan Merdeka 87000, Labuan Federal Territory Malaysia
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