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The site is operated by UtradeX Ltd, a company registered in Comoros Union and regulated by Mwali International Service Authority (MISA). Meanwhile, the broker’s office is located in Switzerland. However, UTrade-X does not disclose any information about the date of establishment of the company. As for the domain, it was only registered by Utradex Ltd in June 2023 on the Island of Moheli with a registrar in Comoros Union. Due to international restrictions, the company does not provide its services to countries such as Afghanistan, China, Russia, Ukraine, and others.

Is this platform reliable and is it profitable to trade here? Can we trust this broker? We will determine the safety of the service by analyzing the information published on the website.

Trading Conditions

UTrade-X provides registered clients with the most popular MetaTrader 5 platform for trading. The broker offers 5 asset classes and 300+ trading instruments, including cryptocurrencies. Traders can utilize competitive spreads starting from 0.1 pip, high leverage, advanced charting tools, and one-click trading to gain trading experience. UTrade-X has three trading accounts for you to choose from, sorted by spread options:

  1. Fixed – Fixed Spreads from 1.5PIPS, No Commission
  2. Classic – Variable Spreads from 1.2PIPS, No Commission
  3. Raw – Raw Spreads from 0.1PIPS, + $4 per round

The terminal guarantees support for 9 timeframes, the average execution time is 15 ms. You can choose the conditions that best suit your trading strategy with the help of 30 technical indicators and 23 analytical objects.

In case of inactivity, $10 will be deducted from your deposit each month if your account balance is less than $50. No services will be rendered to you and your trading account will be closed automatically if there is a zero balance within one month.

The forex broker gives real-time streams of accurate data, and promises ease of operation and account security (KISS). At UTrade-X, you will have access to personalized service with a dedicated support team.


Would investing in UTrade-X offer the best returns?

There are unclear trading conditions here, and the user agreement specifies big risks for the client. For example, the forex broker can change trading conditions without warning and introduce any fees. Therefore, you are more likely to lose your money rather than earn it.

Does UTrade-X carry out withdrawals?

We have analyzed the work of the site and saw great risks for the trader. Your account can be blocked at any moment and you will not be able to withdraw funds from your deposit. Clients talk about it in their reviews. You can also share your experience in the comments.

May I be scammed on utradex.co?

The presence of a license is almost the only advantage that is demonstrated on the site. But it is issued in an offshore zone and is more of an advertising than a protective function. The resource has a completely fresh domain, a very bad site, and therefore a high risk of fraud.

What's the best way to share my experience with UTrade-X?

Fill out the form and we'll make sure your voice is heard.

How can I tell if UTrade-X is a fraudulent company?

Do your own research and never believe those who promise you easy money.


Jurisdiction: Offshore
License: other
Leverage: 1:300
Broker type: NDD
Demo account: No
Affiliate program: Not indicated
Trading platform: MetaTrader 5
Assets: Forex, CFD

16 reviews about UTrade-X

  1. tyler
    July 31
    I can't get the requested information
    I liked the opportunity to trade on the MT5 platform and tried to contact the support staff by email, I requested copies of the company registration and license documents, but UTrade-X could not give me a clear answer. Why doesn't tech support have this information...? And also they do not have an opportunity to trade on an Islamic account, which will not appeal to everyone. I can't recommend this service, there are much better companies in the Forex market, which immediately give all copies of documents.
  2. nick
    July 29
    The platform is not suitable for beginners
    I have been cooperating with the broker for a few weeks. It's not perfect here, but other forex companies have much worse. I have been trading currencies for a long time, so the lack of training has not affected me in any way. But beginners will have a hard time here because they will have to learn trading somewhere else, they will face problems here. And although UTrade-X spreads are not particularly low, I am satisfied with everything and I am still here. The broker works honestly and withdraws money, so I am ready to trade with inflated commissions. Besides, the MT5 terminal is provided on the site, which is a huge plus for me!
  3. Kay
    July 28
    Another "scam trader"
    From the supporting documents here are only numbers and not a single confirmation, and the interface is an obsolete creation:)))))
  4. Rome
    July 26
    I do not withdraw money
    I have been waiting for a withdrawal request for more than a week, all the promised deadlines passed a long time ago :(
  5. Olla
    July 19
    This is the worst forex company
    I would not recommend this broker to you as it is totally unreliable. It will be a waste of money and time for you. Due to sags on the platform, the deposit decreases instantly!
  6. Saimon T
    July 14
    I plan to earn a profit
    I like that UTrade-X has no unreasonable commissions, the MT5 terminal is provided to traders, and there is a lot of information updated online. I trade with currencies and now my income is stable. I also plan to master transactions with CFDs on shares and ETFs, because the broker keeps lower commissions on these instruments.
  7. frole
    July 8
    The service is suitable for experienced clients
    I can't say that if you are completely inexperienced, you will be comfortable on Utradex (most likely not), but if you have minimal experience in trading forex assets, it is worth a try.
  8. Slarnd
    June 25
    I have no trust in the company
    At first, it seemed to me that this is quite a decent platform for earning money, but unfortunately, it turned out not to be so :( the first drawback is the platform errors, and the second thing I noticed in my account history is a few incomprehensible losing trades... So, you should not trust Utrade-X either!!!!
  9. Scater
    June 24
    The usual scams
    Here you will be taught to make trades with mistakes so that afterward you will be held responsible for losing money. On the site, they tell you about a group of analysts, but in the end, these analysts tell you that you need to learn on your own and make transactions sensibly. Offshore licensed scammers operate in a new legal form, with them controlling your trades as well as the withdrawal of your personal funds. Withdrawal of money is only with their consent, and judging by the way they aggressively advertise their scam, you can be sure that they will not give you your money easily. I wrote to the broker by e-mail, but neither the manager nor the analyst answered me. They are all waiting, apparently, when I will make a lot of losing trades to tell me that I am to blame and then persuade me to replenish my account. My experience: on the sixth trade my entire balance decreased to zero, after which the manager called me and offered to top up my account by another $300. This is how easy and simple, according to the same methodology scammers work. They are so petty, for $300 they hope to persuade me to risk my funds even more.
  10. Ratan
    June 23
    Can't register
    The verification page on the site is not working. Trying to contact support, but I can't get through. ‌Maybe the company is not working? I think that is the case. I can see from the reviews that UTrade-X is not the best broker. I'm just wondering if the resource is working or not!
  11. Isch
    June 22
    Absolutely every fake site, including utradex, has the same license number, which belongs to another company. Scammers just took a random document and posted it on their sites hoping that no one will check the information!!!!!
  12. gor
    June 20
    The scheme of work of this company is fraudulent
    It is impossible to withdraw your money from the deposit. Trading is not so bad, but as soon as it comes to withdrawal, problems start! The standard scheme of scammers! I conclude that UTrade-X is a swindler!
  13. Vincent
    June 20
    I wouldn't trust the broker with a cent
    The site is a trivial scam that offers easy forex earnings. There are no magic strategies in trading, as well as there are no small commissions for the withdrawal of profits received. In order to make money in this sphere, you need to learn at least the basics beforehand, understand the algorithms of your actions well, and trade with time-tested brokers. And not on this platform, which was opened only yesterday.
  14. Nicola
    June 17
    Bad service, I do not recommend it
    Recently got acquainted with the functionality of utradex.co, I concluded that it is inferior to its competitors in every sense, long verification and withdrawal, support does not respond to questions, or answer inarticulately!
  15. Danny
    June 17
    My virtual experience
    The broker doesn't offer a demo version, so I didn't manage to try it. I was not upset about it at all, because MT5 is available. I opened a demo account in it to test the trading conditions of EUR/USD. On the virtual account, the spreads on this pair were from 1.8 points, which means that in real trading they will be even higher. There are a lot of currency pairs available - almost 50. I do not trade with very high leverage. The maximum I use is 1:10. UTrade-X offers a level much higher than that. Their support service is slow and that's why I haven't decided to switch to a live account yet.
  16. fin
    June 15
    The adverts are convincing but the broker does not live up to expectations
    I have noticed that there is a quality information flow from UTradex in the form of good info products, advertising articles, etc. It's hard to pass by, so I decided to find out the nuances. I contacted the manager, and as far as I understood, he published adverts on social networks. He answered the message quickly, without any phone calls told me all the details in messenger about the terms of cooperation. It didn't look all that plausible, so I didn't open an account with UTrade-X. I think that by refusing to trade here, I saved my money…

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