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UTrada group includes 2 related companies.
UTrada MY - located in Malaysia, regulated by the Labuan Financial Services Authority (LFSA).
UTrada SVG - legally registered entity located in Saint Vincent and the Grenadines, but not regulated by any government agency.
UTrada group accepts clients from all over the world, excluding USA and some OFAC/FATF sanctioned countries.
Forex broker offers the following underlying assets for trading.
| 35+ Currency Pairs | Based on major and minor world currencies. |
| 5 Crypto Pairs | Based on Bitcoin, Bitcoin Cash, Ethereum, Cardano, Ripple. |
| 12 Indice CFDs | Based on baskets of different blue-chip stocks. |
| 2 Metal CFDs | Based on Gold and Silver. |
| 2 Energy CFDs | Based on Crude Oil (WTI, Brent). |
| 50+ Stock CFDs | Based on shares of well-known US companies. |
UTrada is a forex broker registered offshore in both Labuan, Malaysia and in Saint Vincent and the Grenadines. Like most offshore brokers, UTrada offers very high trading leverage, a simple sign-up process, and allows traders to fund their accounts with crypto.
One thing to note about UTrada is that although the broker was established all the way back in 2018, the website still appeared to be a work in progress at the time of writing. There are several pages with no content, including the “Copy Trading,” “Trading Signals,” and “Help & Support” pages. This is unfortunate, and certainly does not make the broker appear as credible as it should.
As almost all brokers we have reviewed here on FX-List, clients who sign up get to choose between multiple different trading accounts. With this broker, the choice is between three account types:
– Standard Account, with spreads from 1.8 pips, no commissions, and a $50 minimum deposit
– Premium Account, with spreads from 1.2 pips, no commissions, and a $50 minimum deposit
– Ultra Account, with spreads from 0 pips, commissions of $7 per lot, and a $100 minimum deposit
In addition to the above-mentioned regular trading accounts, anyone can set up a free demo account with no commitments if they wish to practice trading before depositing any real money.
In terms of trading platforms, UTrada offers its own UT APP mobile platform for Apple and Android devices. The app makes it easy to make and manage trades on the go, given its simple and streamlined user interface combined with advanced charting features.
Besides the proprietary mobile app, UTrada also supports trading on the classic MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, available for Mac, Windows, iPhone and Android. Both of these platforms are already well-known among retail forex traders, and no further introduction of them will therefore be given here.
Notably, the full selection of trading instruments can be traded on all three platforms. The selection includes all of the usual assets, including more than 35 forex pairs, major crypto pairs, a handful of popular stock indices, oil, precious metals, and single shares from around 50 US-listed companies.
Support from UTrada's own support desk is available through email or live chat via the website. Unfortunately, no phone number has been provided by the broker, and there is also no information about the support team's working hours given that the “Help & Support” section of the website has no content. However, a community for users has been set up on the chat platform Discord, which means that it should also be possible to get help with some issues directly from other users.
All in all, we see UTrada as an interesting player in the offshore forex broker space that traders would be aware of. Still, it is important to remember that offshore brokers are either unregulated or very lightly regulated, which comes with certain risks. Among those risks is the potential loss of funds if a broker for example goes out of business. For those who have done their due diligence and feel comfortable depositing money, however, UTrada appears to be a decent broker to trade with.
