Broker Review

Platform Overview

Greenup24 is an online trading platform operated by Greenup Ltd., which claims to be registered in Saint Lucia and headquartered in Dubai. The platform offers a range of financial instruments, including forex, metals, indices, commodities, shares, and cryptocurrencies. It provides two account types: Standard and ECN Pro, both accessible via the MetaTrader 5 (MT5) platform. Greenup24 promotes features such as low spreads, high leverage (up to 1:500), and fast withdrawals, aiming to cater to both beginner and experienced traders.

Regulatory Status

Greenup24 claims to operate under the legal license of Greenup Ltd., registered in Saint Lucia. However, this registration only grants International Business Company (IBC) status, which does not constitute a valid financial license for conducting forex trading or investment services. Furthermore, searches of the databases of the Securities and Commodities Authority (SCA) and the Dubai Financial Services Authority (DFSA) revealed no licensed entities matching Greenup24 or Greenup Ltd., suggesting that the platform is operating in Dubai without the necessary regulatory authorization.

Risk Evaluation

Engaging with Greenup24 exposes investors to several significant risks:

• Regulatory Risk — Very High: Operating without recognized financial oversight leaves investors unprotected legally.

• Withdrawal Risk — High: The platform’s lack of transparency and unverified claims raise concerns about the ease of withdrawing funds.

• Transparency Risk — High: The absence of verifiable company information and unclear regulatory status reduce investor confidence.

• Market and Product Risk — Moderate to High: While Greenup24 offers access to a wide range of instruments, trading these products inherently involves market risk. For an unregulated broker, this risk is compounded by potential manipulation of spreads, leverage, or trade execution.

• Reputational Risk — High: Platforms that operate without oversight frequently attract negative reviews, complaints, and warnings from regulators. Engaging with such a platform can result in financial losses and reputational damage for investors who recommend or associate with the service.

Recommendations

• Avoid Engagement: Due to the high risks, investing or trading with Greenup24 is strongly discouraged.

• Report Issues: Individuals who have already deposited funds should document all communications and consider reporting problems to relevant authorities.

• Use Regulated Brokers: Investors should prioritize brokers licensed by reputable financial authorities to ensure fund safety and legal protections.

Conclusion

Greenup24 exhibits multiple red flags that indicate it is a high-risk operation. Its unverified regulatory claims, lack of transparency, user complaints about withdrawals, and aggressive marketing tactics make the platform unsafe for investors. Until the company provides verifiable licenses, audited financial safeguards, and a proven track record of honoring withdrawals, it should be avoided.