General Information & Regulation
uTrade is an Australia-registered online broker that is owned and operated by uTrade Markets Incorporated. uTrade is an illegal broker, for its real address is not consistent with the registered address, and it is not subject to any regulation at the same time.
Market Instruments
With uTrade, traders can get access to financial instruments including forex currency pairs, indices, commodities, as well as Crypto currencies.
Minimum Deposit
There are three trading accounts on offer on the uTrade platform: Standard, Expert and ECN Spread accounts. The minimum initial deposit requirements to start a standard account is $100. Although this amount is reasonable, uTrade is unregulated broker that we should stay away from.
Leverage
Trading leverage varies depending on particular trading accounts you choose. The maximum leverage level offered by this broker is 666 time, super high for inexperienced traders to use.
Spreads & Commissions
Spreads and commissions differ depending on various trading accounts. uTrade offers variable spreads. The spreads on the standard account start from 1. 4 pips, with no commissions charged. The spreads on the Expert account start from 0.2 pips, no commission charged. Spreads in the ECN account start from 0 pips, with a commission of $6 per lot.
Trading Platform Available
In terms of trading platforms, What uTrade offers is not the widely recognized MT4 or MT5 trading platform, instead of some other platforms including cTrader, Equinix, cTrader Web,Cmirror, as well as Calgo.
Deposit & Withdrawal
Available payment methods that uTrade support include Bitcoin wallet, Visa, Mastercard, Neteller, and Skrill.
Customer Service
The customer support team can be available through telephone, email, as well as some social media platforms like Facebook, Twitter, Youtube, etc.