With several warnings and a half-broken website, this exchange doesn’t exactly look like the most professional and serious securities dealer we’ve reviewed. Legal documents are absent and trading apps are only available for download directly from the site. These and a pile of other issues cast doubt on this firm’s legitimacy.
Before engaging in trading on this shady platform, we recommend you read our Ultradx review and steer clear of this financial trap.
| Regulated by: | Unregulated Crypto Exchange |
| Is This Company Safe? | No, exceeding their scope of license and being blacklisted proves they’re not reliable. |
| Known Websites: | ultradx.com |
| Have Warnings from: | BCSC, CSA, OSC, CONSOB |
| Registered in: | N/A |
| Operating since: | 2018 |
| Trading Platforms: | Web terminal, mobile app |
| Maximum Leverage: | 1:100 |
| Minimum Deposit: | N/A |
| Deposit Bonus: | No |
| Trading Assets: | Crypto |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Withdrawals are denied by the site owners. We recommend you contact our chargeback experts for help. |
Insufficiently Licensed
As just a FinCEN registrant, a firm is not technically licensed to operate as a securities dealer. For that, they’d need a CFTC/NFA approval. The Ultradx exchange does not have that. Moreover, this firm actually is not licensed at all, by any prominent authority.
Several solid proofs of that are the warnings issued by BCSC, OSC, CSA and CONSOB. These regulatory bodies clarify that the company in question has not obtained the mandatory licenses to act as a securities provider. Therefore, they’re operating illegally. These aren’t the only areas where the firm is active, so we’ll probably be seeing more public alerts posted soon enough.
Collects Victims on Every Corner
The domain in question has been active ever since crypto popularity spiraled in 2018. However, the site hasn’t shown much activity until only a few years ago, when the victims started reporting being robbed. Highest number of victims has been detected in these countries:
- United States
- Japan
- South Korea
- Saudi Arabia
It’s quite evident that the cyber thieves have no particular preference for any area, and just try to gather as many victims as possible. What helps them with that are boiler room operators who manipulate targets and lead them into risky investments.
Furthermore, crypto schemers are known for giveaways supported by deep fake videos of celebrities advertising their products. Social networks like X are primarily used for this false advertising. Uphold stands for a better service provider, but they’re also unlisted on popular sites, so beware.
Fewer Reviews – 100% Negative
While the site brags about being famous with huge traffic and enormous daily turnover, facts show different. Besides being almost completely inactive on social networks, the firm sports almost zero Ultradx reviews.
Several ones found on Reviews.io and Sitejabber report about being mercilessly robbed, with withdrawals being inexplicably denied or completely banned. Other clients seem to have been pestered by boiler room agents, while there’s also those that couldn’t ever reach support.
Not Clear About all Costs
Ultradx spot trading leverage is marketed as beneficially high, going up to 1:100. Do not let this word play deceive you, as higher exposure means huge loss. You could practically lose your entire life savings from a single position opened on this false exchange.
None other costs are explained, and even if they were revealed in the legal papers, we couldn’t access them because of a constant error message when loading a page. TitanLTDInvestments is also known to keep away the real costs from the eyes of their clients, so be careful who you entrust your funds to.
Shamefully Bad Features
There’s not much else to say about this broken website, where half of the links don’t go anywhere or just keep reporting an error. Trading apps are inaccessible without risking downloading malware and the only available web terminal is heavily manipulated by cons. Keep reading this review for details.
Unreliable Terminal
In general, online trading portals are avoided if they only offer web trading. It is known that such sites usually have their web terminal altered in order to facilitate the money extortion from clients. That’s not the only issue with this crypto provider, however.
If you want to try the Ultradx app for mobile, you can only download it by scanning the QR code from the site. The can’t be found in Apple and Google stores, which means it didn’t pass the security check.
Spot and Futures Pairs
Ultradx crypto provider doesn’t just lack features. We also have to mention the extremely narrow choice of tradable assets offered. According to the web terminal, here are some of the available pairs:
- Spot – BTC/USDT, ETH/USDT
- Futures – BTC/USDT, ETH/USDT, LTC/USDT, XRP/USDT, BCH/USDT
Don’t Share Private Info!
Signing up for a Ultradx login bears several risks. Besides exposing your funds to danger from being stolen, the same happens with your personal information shared.
Since you’re obligated to verify your identity as soon as you enter the client area, you will be urged to upload photos of your ID, passport, and other personal docs. All of this could lead to identity theft, so refrain from sharing your sensitive information with blacklisted companies.
Withdrawal Requests Rejected
The biggest problem clients have with this crypto provider pertains to the shady Ultradx withdrawals. First off, all deposits have to be made in digital currencies. That means that fraudsters can easily misappropriate your crypto assets and keep their identity concealed.
Secondly, those who were tricked into depositing here report about not being allowed to withdraw any profit or original investment unless they paid advance fees. These could be so high that they defeated the purpose of withdrawing anything!
Unhelpful Help Desk
Attempting to access the support area or at least read the FAQs is a completely futile endeavor. You see, as soon as you attempt to click on the help button on the site, you will get an error page. Not only is the support unresponsive and irresponsible, but they can’t even be contacted!
Avoid Blacklisted Crypto Portals!
Reviews like ours and public warnings issued by regulatory bodies serve as a warning to all those crypto enthusiasts attracted to shady sites by their shiny advertisements. You will quickly lose money if you just give the cons a single chance to get to you.
Therefore, we recommend all the victims of this fraud to contact us for help. Whether you need chargeback services or just a listening ear, we’re here for you 24/7.
FAQ Section
What is Ultradx?
Ultradx is a scam crypto exchange with a broken website and several warnings.
Is Ultradx Legit?
Most definitely not – they do not own the necessary licenses to act as securities dealers and several regulators warn about that.
What is CipherTrace?
CipherTrace is an extremely useful software used by our recovery specialists to track and restore stolen crypto assets. Contact us for more details on that.
Source:
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