Gowtham M.

Utrade Markets is Big Scam.
Please don't invest in Utrade. You will lose all your money.
They don't have Office in UAE.
First of all they will say below point to open the trading account.
1. No swap Charges ( But they have Spread charges, with this they will wipedout your account)
2.20% bonus credit ( you cant withdraw this bonus credit, it's not your part of capital. It's just a number)
3. Within 24 hrs withdrawal (before placing your withdrawal you will lose all your money)

1. They don't have swap charges but they spread charges. If you have active trade over the weekend means, they will increase the spread charges ( Difference between Buy & Sell Value)
After market closed. Because of this your floating loss will increase & if dont have free margin means your account will be wiped out completly & you will lose all your money.
After you can see the true colour of your RM (Relationship Manager) - My RM name is Mohamed Ansar

Example:
Platinum/USD:
Before Spread:
Buy Value: 1920.00 Sell Value: 1923.00
After Spread:
Buy Value: 1920.00 Sell Value: 1946.00

If you see the difference above: Before Spread is 3.00 difference & After Spread is 26.00 Difference. So 23.00 got increased.
This changes only done by the Utrade brokers in the MT5 app. They have all the access to increase the spread. They will do this changes after market closed. Only in weekends (Saturday & Sunday)

Spread value is fixed by the brokers only.

Please refer to the attachments, i have uploaded all my proof.
I have lost $4,200/- only because of spread charges. ( Not in the trade)

Don't trust them.