This review of uTrading explains that this cryptocurrency trading robot is just a scam that is going to collapse hard.
What is uTrading
The uTrading bot supposedly uses artificial intelligence to make highly profitable trades. Annual returns on investment (APY) are well above 100%. On its official website, the bot displays APYs going up to 137%.
Is uTrading a legit platform that you can invest your money with? No, unfortunately it is not legit, it’s a scam. We explain all the details in this review.
The truth is that uTrading is a fraudulent platform that is not doing what it says. It does not use artificial intelligence, it is not even trading cryptocurrencies, let alone in a profitable way.
Anonymous and illegal service
If you want to invest money with a third party under the promise of any kind of profits, you’d better make sure that it is a reliable entity. So who is running uTrading? Well, it’s impossible to find out!
That is because owners of uTrading are hiding. Take a look at their official website, they don’t provide any address or real contact information. You can only join their Telegram group, which does not look very trustworthy, does it?
What is an even more important point of this review, is that uTrading is an illegal investment service.
In most countries of the world investment services are regulated. It means that if a company wants to provide them, it has to get approvals and licenses from regulators. Such a company is then under supervision of financial regulators, which means a certain protection for customers. In some countries it even means that clients’ deposit are insured.
But uTrading is anonymous and unregulated. It does not even say which country it is based in, let alone provide any regulatory information.
When you take money from people and promise them to earn them profits, you have to follow certain rules. There are investment laws and uTrading is breaching them, which makes it an illegal financial service.
Just think about it, if anything goes wrong with uTrading, you will have nobody to contact, there will be no third party that could help you get your money back.
Crazy investment plans
What makes uTrading an obvious scam, is the investment plans advertised on its website. Because they say you can earn more than 10% monthly returns on your investment in a passive way thanks to the trading bots.
Believe us when we say that it is a proof of scam in itself. We have been trading financial markets for 16 years and we can honestly say that no company can offer 10% monthly returns on investment. It’s just impossible to achieve in the real financial world.
Most of the time you don’t have to look up reviews to see that a particular offer is a scam. It’s valid for uTrading too, just look at the investment plans, use common sense and you’ll see the truth.
How uTrading really works
uTrading is a scam, that we have already established in this review. But we hear some people got paid by this platform, which only indicates that it tries to survive as a Ponzi scheme.
In such scenario deposits of new users are used to pay profits of older users. It’s just an illegal financial scheme that is recycling users deposits.
That is why there is such a generous referral program, uTrading needs more and more money on deposits to stay alive.
And don’t get fooled by uTrading’s claims that your funds will stay safe in your account, through their shady app they will get access to your money.
The problem with Ponzi schemes is that they always run out of money and collapse. To be precise, they are never able to sustain the need of increasing deposits, it’s mathematically impossible, and that is why they always crash.
How soon will uTrading collapse? It is impossible to predict, some Ponzi scam lasts only for hours or days, some for months or even years.
The point of this part of our uTrading review is that even if the platform is paying, it still does not mean it’s legit, because it’s a scam built on the scheme made famous by Charles Ponzi.
You really don’t want to be part of this scheme, because when it goes down, you won’t be able to get anything back. Fraudsters running uTrading force users to transact with cryptocurrencies, because these transactions can’t be reversed. Once they get your money, it’s theirs, you can’t get it back.
uTrading review – Conclusion
In this review we have explained that uTrading is a scam based on a Ponzi scheme. It does not do any legitimate trading, let alone profitable.
That is why you should stay away from uTrading and never send any money their platform. A crash is just a question of time.
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