In recent years, mobile trading has been gaining traction among investors. As a result, more firms are striving to get a share of the market by adopting this new trend. Among them is UpTick, which uses an advanced, reliable and simplistic approach to make the global market possible from the comfort of your fingertips. The mobile-based app aims to promote its ideology by providing top-notch marketing strategies through a highly responsive interface tailor-made for mobile devices.
Behind the trading expertise of UpTick is the unseen hand of GAIN Capital, an internationally acclaimed online trading company. GAIN is undoubtedly one of the best in the business, having an investor base of over 140,000 individuals. This is due to the firm’s strict adherence to its core value, which is to provide its clients with affordable services in various global markets, including commodities, currencies, company stocks and indices. Bound by its listing on the NYSE, GAIN maintains a nearly immaculate record in its governance, with high standards of financial responsibility being observed as well.
Opening An UpTick Trading Account
After registering interest, prospective clients are required to download the app, which currently is available on Apple’s App Store. After downloading, one is prompted to enter personal details after which the account is created.
To fund your account, you need to click the accounts tab, which is located at the top right of your profile information. Once this is done, you will be redirected to the depositing page. Here, you will be required to key in your payment details, which are the particulars of your bank card. It is advisable to tread carefully in this step, as there is no provision for amendment of the specifics once they are confirmed. Accepted cards include Electron, MasterCard, Maestro and Visa
Currently, the system accepts a minimum deposit of £50. If a debit card is used, no charges are imposed, whereas, in the case of a credit card, an additional 1.5% of the deposited amount is deducted from the user's account. It is worth noting that no confirmations are sent upon successful deposits. Moreover, the maximum number of cards that can be affiliated to a single account is capped at three.
Withdrawing From UpTick
For security and compliance purposes, UpTick only sends funds to cards which were used to deposit the same. In a single instance, users can withdraw a minimum of £50 and a maximum of £200,000. However, upon special requests, users can withdraw more than the stipulated upper limit.
Unlike deposits, withdrawals are a more sensitive matter, hence they have more stringent measures. Once in a while, clients will be asked to provide proof of ownership before funds are withdrawn. Some cards, mainly international Visas and MasterCard, do not allow the sending back of money via the same channel. In such instances, users can contact UpTick which then wires the funds to a bank account of their choice.
Before any withdrawal is effected, the net deposit must be zero. Net deposit is the aggregation of different funding if the client used multiple cards for deposit. Thus, if two cards contributed £50 and £60 respectively, the money is fast sent to the individual cards in that order before a withdrawal can be approved. After every successful withdrawal transaction, a confirmation is sent to the user via email.
Trading On UpTick
Users have two option to choose from when trading on this platform. They are;
$ – Mode
This is the default mode of trading on UpTick. Here, users select a base currency ($/€/£) with which they want to conduct business. After the selecting the preferred amount on the size slider, the transaction is on. For instance, if a trader opts for $60 with a 5:1 ratio, it means they are trading for $300 capital at that time.
Known as the point betting mode, this involves a trader staking a certain amount of money against a bet. For instance, if firm A is trading at 123.98 and the user bets $5, they will get a corresponding change in position equal to the bet amount (dependent on whether their bet was for buying or for selling) on the event that the trading points fluctuate.
A maximum trade size of €10,000 is imposed on all markets on UpTick. To avoid big losses, traders are advised to diversify and avoid placing their hopes on a single market.
UpTick Trading Fees And Charges
UpTick strives to keep fees imposed on users at bare minimum, so as customers can enjoy maximum profits. For this reason, the platform does not charge commissions, tax or stamp duty. What exists is a small daily financing charge, required for the management of the accounts. However, if an account remains unused for twelve months consecutively, a monthly inactivity fee of £25 is thereby deducted in the ensuing months.