uTrader Review (2023)

Is uTrader a scam or a regulated broker ?

In our research, uTrader has been suspected as a scam broker. The company provides the regulation info, and claims to operate under the regulation of IFMRRC (International Financial Market Relations Regulation Center). However, its regulated status can be solely considered, since at fact IFMRRC is a non-governmental authority that acts as an independent organization and does not strictly oversee the operation of the registers.

uTrader is a Forex and CFD broker owned and operated by Day Dream Investments Ltd., the place of supply of services in the Republic of the Marshall Islands.

In the certificate from IFMRRC, the legal address of the Day Dream Investments Ltd. is in Marshall Islands.

In fact, Marshall Islands is an offshore zone attracting various firms that for the reason or another escape from the serious regulation or compliance to international service providing. However, in the case of financial investment or trading firms, the company should be a very respected entity, as the statistics show that the majority of non-authorized firms never recovered the sums of investors’ investments. Therefore, we always advise avoiding offshore or companies with no license as there are too many frauds around.

We strongly advise all investors and traders to avoid uTrader and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BDSwiss and BlackBull Markets.

You can also share your trading experience with uTrader by commenting on this review.