uTrader Review

UTrader

www.utrader.com

Reason to avoid: Offshore license

Listed Date: July 23, 2018

Top 3 Regulated Forex Brokers

  • Company name: Day Dream Investments Ltd.
  • Registration/license: Marshall Islands
  • Registration/license requirement: USD 2,000

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. The company provides the regulation info, it is licensed by the IFMRRC (International Financial Market Relations Regulation Center) in Russia. In the certificate from IFMRRC, the legal address of the Day Dream Investments Ltd. is in Seychelles. There might be a confusion with the locations, but since both of them are offshore territories, we would warn about any kind of trading with this broker. It is safer to trade with brokers regulated by UK’s FCA or Australia’s ASIC instead. For example, the license from UK’s Financial Conduct Authority requires EUR 125,000 of capital for the STP license aside from client deposits.

Share this Article