Wikilix
Contract reading

What UP TREND legally published, but does not want you to read

Every clause below is published by UP TREND itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: Up Trend Ltd.

hidden feesole discretioncost disclosuredeemed acceptancedispute windowdormancykyc freezewithdrawalsabusive tradingaccount restrictions

Up Trend charges up to $300 a month on a dormant account. Its Tariff, its Fees page and its Key Information Documents each name a different figure for that same fee. The firm is also the sole venue for your CFD trades and the party on the other side of every one. A pending document check can stop you closing a position you already hold.

Back to UP TREND

Contract risk

Money at risk
6.5/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
4
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
14
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
27
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
6

How the 14 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical4
Warning7
Notice3

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

3 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical$300Fee on an unused account. Jump to the clause this comes from.Inactivity fees climb to $300 a monthCritical$300In the contract. Jump to the clause this comes from.One dormancy fee, three different figuresCritical14 daysDocument deadline. Jump to the clause this comes from.A document check can stop you closing a trade3%Fee you were not shown. Jump to the clause this comes from.A 3% deposit charge the Fees page denies

What the documents say

14 clauses worth knowing about, worst first, each quoted from UP TREND's own files

01

Leave your account alone and the monthly charge rises in four steps. It starts at $15 after one month without a trade. By month seven it is $120. After a year Up Trend's Tariff sets it at $300 a month.

Why this matters

A small balance can be gone inside a year of not trading. Clause 19.3 lets Up Trend take the fee from any account you hold. It can then close that account.

Exhibit 1CriticalHarder than usual$300

Inactivity fee 15 USD
Clause 3.1 in Tariff for standard commission for the services provided by investment firm Up Trend Ltd., p.1
Read from the broker's site on Open the reference

What it costsTwelve months without a trade costs $870 under the Tariff: $15 for two months, then $30 for four, then $120 for six. Only after that does the $300 rate begin.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must disclose all costs and charges to a retail client before they trade, in good time and in one place. Up Trend's fee ladder lives only in the Tariff, and its own Fees page states a different set of figures.

UP TREND is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
After 1 month without a tradeUp Trend charges $15 a month.3.1
From 3 to 6 monthsThe charge doubles to $30 a month.3.2
From 7 to 12 monthsThe charge rises to $120 a month.3.3
After 12 months, marked dormantThe charge rises to $300 a month.3.4
  • Worse together with Exhibit 2The Tariff holds the binding ladder, and every other place Up Trend publishes the fee shows a smaller number.
  • Worse together with Exhibit 10Up Trend can raise the Tariff on its own, and the new figure binds you unless you spot it and object in time.
02

Up Trend publishes the same dormant account fee as three different numbers. The Key Information Documents say up to $40 a month. The Fees page says $150. The Tariff, which clause 39.1 makes the governing schedule, says $300.

In plain words

Dormancy means an account left unused.

Why this matters

You cannot work out what dormancy costs you from anything Up Trend publishes. The Key Information Document you are given before depositing says $40. The Tariff that governs says $300.

Exhibit 2CriticalRarely seen$300

*A Dormant Account Maintenance Fee of up to $40 USD per month is assessed to Ainvesting accounts that are inactive for one year or more.
Quoted in Key Information Document - CFDs on Forex, p.3
Downloaded from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ESMA (EU)

Firms licensed by the FCA and CySEC must give retail clients cost information that is accurate and consistent, and a Key Information Document must state the costs a client will actually bear. Up Trend's three published figures for this one fee are $40, $150 and $300.

UP TREND is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingBrokers commonly bury a fee in a long document. Publishing one fee at three different amounts, in three documents all live on the same day, is a different problem: no version of the number can be relied on.

03

If a document on your file expires, Up Trend can restrict your platform access. Article 9f says that restriction can include being unable to close positions you already hold. Miss the 14 day deadline for new documents and Article 36 lets Up Trend end the contract.

Why this matters

A losing position you cannot close keeps losing. An expired passport is enough to trigger this. The General Terms set no limit on how long the restriction lasts.

Exhibit 3CriticalRarely seen14 days

The restriction may be expressed in the inability of the client to open new positions, or to close existing positions, to make new deposits.
Clause 9f(1) in General Terms and Conditions under Article 82(3) of the Markets in Financial Instruments Act, p.7
Downloaded from the broker's site on Open the reference
Set against a regulated standard: ESMA (EU), FCA (UK)

Under the ESMA measures applied to retail CFD accounts, a firm must close positions automatically once margin falls to 50%, which caps how far a loss can run. Up Trend applies those measures under clause 8.5, and Article 9f still allows a documentation restriction that blocks you from closing a position yourself.

UP TREND is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingBrokers routinely freeze deposits and withdrawals during a document check. Blocking the close of an open leveraged position is different: it holds you in a trade whose loss can grow while you wait.

  • Worse together with Exhibit 7The same unfinished document check that blocks a position close also blocks a withdrawal, because the withdrawals page requires full verification first.
04

Clause 14.2(g) lets Up Trend cancel or reverse profits it decides came from abusive trading, fraud or a stolen card. Its own definition of scalping covers opening many positions and closing them again quickly.

Why this matters

Profit you have already made can be taken back after the trade. Up Trend decides what counts as abusive, and the Client Agreement gives you no appeal against that decision.

Exhibit 4CriticalHarder than usual

Cancel or reverse any profits gained through abusive trading of paragraph 14.1. (k) and (n) or the application of artificial intelligence on the Client Account or in case of the use of stolen cards, forgery, fraud or when the Client engaged into a criminal activity or money laundering.
Clause 14.2(g) in Client Agreement. Terms & Conditions, p.18
Read from the broker's site on Open the reference

Our readingMost CFD agreements reserve a right to void trades from proven market abuse, and clause 14.2(g) is tied to a listed set of grounds rather than left open ended. Up Trend's definition still reaches further than most: its scalping definition offers three minutes as an example of a very short time.

05

Every CFD you open is a bilateral trade with Up Trend itself, which its Order Execution Policy names as the sole execution venue. Its own risk warning says 85.5% of retail accounts lose money with it.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Why this matters

When you lose on a CFD, Up Trend is the party on the winning side. Clause 2.7 of the Client Agreement still tells you there is no conflict of interest.

Exhibit 5WarningStandard wording85.5%

For the purposes of CFDs orders, the sole Execution Venue will be the Company through the Trading Platforms on its website: Ainvesting.eu.
Clause 5.6.1 in Order Execution Policy, p.15
Downloaded from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must identify their conflicts of interest and disclose them clearly where organisational measures cannot manage them away. Up Trend's Conflict of Interest Policy runs to 24 articles and never mentions that the firm is the counterparty to client trades.

UP TREND is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingActing as counterparty on CFDs is normal for this kind of broker, and Up Trend discloses it plainly in the Risk Disclosure and the Order Execution Policy. The flat denial in clause 2.7 of the Client Agreement is what does not fit.

06

Deposit in a currency other than EUR, USD, GBP, BGN or CHF and clause 18.2 lets Up Trend take a fixed 3% spread. The Fees page says Ainvesting does not charge any fees for deposits.

Why this matters

Up Trend markets its site in 16 languages. Clause 18.2 exempts only five currencies, so a deposit in most other currencies costs you 3% on the way in.

Exhibit 6WarningHarder than usual3%

If the Client pays in his card currency, the Company will be allowed to charge a fixed spread of 3%. The Company does not charge any conversion fees when the Client deposits in the following currencies: EUR, USD, GBP, BGN and CHF.
Clause 18.2 in Client Agreement. Terms & Conditions, p.22
Read from the broker's site on Open the reference

What it costsA deposit worth $10,000 in a currency outside the exempt five loses $300 to the spread before the first trade.

Deposits are free unless you read clause 18.2

Clause 18.2 of Up Trend's Client Agreement allows a fixed 3% spread on deposits made in any currency outside EUR, USD, GBP, BGN and CHF. Its Fees page says Ainvesting does not charge any fees for deposits. A separate 3% charge, with a $20 floor, is taken from unverified accounts when their money is returned.

Charges on the way in1 clause flagged

Do not finish verification and Up Trend closes the account and returns your deposit. It keeps 3% of that deposit first, with a floor of $20. The charge is on the Fees page and not in the Tariff.

Why this matters

A $200 deposit you never traded comes back as $180. The $20 floor bites hardest on the smallest accounts.

Exhibit 8WarningHarder than usual$20

An account which is considered a Non-complying one shall be closed by the Company and if an amount has been deposited to that account, it shall be returned to the Client. In the event of such return, a fee of 3% of the deposited amount, but no less than 20$, shall be withheld before the return.
Clause Section 5 in Trading Info: Fees
Read from the broker's site on Open the reference

What it costsA $200 deposit returns as $180, because the $20 floor beats the 3%. A $1,000 deposit returns as $970.

Two withdrawal timetables, only one of them binding

Up Trend's withdrawal rules live on a web page that clause 1.1 does not make part of your contract. That page allows five business days, plus up to three weeks for third parties. The Client Agreement itself promises the next working day, and the two have never been reconciled.

Getting money out1 clause flagged

The page that sets out how withdrawals work is not one of the documents clause 1.1 makes part of your contract. It allows five business days, and warns third parties can add up to three weeks.

Why this matters

Clause 17.9 of the contract promises the next working day. The page you are sent to promises five business days. Only one of them binds Up Trend.

Exhibit 7WarningHarder than usual5 working days

Withdrawal requests may take up to five business days to process. Delays beyond our control might occur due to third party withdrawal payment methods (i.e. credit card company, the wiring bank or intermediary banks which delay transfers, in extreme cases, of up to 3 weeks).
Quoted in Trading Info: Withdrawals Policy
Read from the broker's site on Open the reference

The Tariff can rise while you are not looking

Article 37 of Up Trend's General Terms makes a change to the Tariff binding unless you reject it before it starts. Clause 28.9 puts the duty on you to check the website for new fees. You can terminate free of penalty, but only if you noticed the change.

Changing the deal1 clause flagged

Up Trend can change the Tariff and the General Terms on its own. Article 37 makes the change bind you unless you reject it before the date it starts. You have to watch the website to find out.

Why this matters

Nobody has to email you. Article 37 does let you terminate free of penalty if you object in time, but only if you noticed the change at all.

Exhibit 10WarningStandard wording

The changes in the General Terms and Conditions enter in power and are applicable for CLIENTS who already have a signed contract with the Investment Intermediary only if THE CLIENT does not reject the executed changes prior to the date on which they are to enter into force.
Clause 37(2) in General Terms and Conditions under Article 82(3) of the Markets in Financial Instruments Act, p.21
Downloaded from the broker's site on Open the reference

Ten business days, then your silence is agreement

Clause 15.2 of Up Trend's Client Agreement gives you ten business days to challenge anything on your account statement. After that your silence counts as approval and the record is treated as conclusive. The Complaints Handling Policy sets no deadline of its own, but prints one filing address with a letter missing.

Time to object2 clauses flagged

Spot something wrong on your account and clause 15.2 gives you ten business days to say so. The clock starts when the order was sent, not when you noticed. Silence counts as approval.

Why this matters

After ten business days the record is treated as conclusive against you. A trade you never recognised becomes a trade you agreed to.

Exhibit 9WarningHarder than usual10 working days

the Client shall contact the Company within ten Business Days from the date the Order was sent or ought to have been sent. If the Client expresses no objections during this period, the content is considered as approved by him/her and shall be deemed conclusive.
Clause 15.2 in Client Agreement. Terms & Conditions, p.19
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK)

Firms licensed by the FCA must accept a complaint for up to six years from the event, or three years from when the client became aware of it. Up Trend's clause 15.2 closes the point after ten business days.

UP TREND is not licensed by this regulator, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 12A ten day window is harder to meet when one of the two addresses printed for filing a complaint is missing a letter.

The Complaints Handling Policy gives two email addresses for filing a complaint. In the section headed with the filing address, one of them reads compaints@uptrend.bg, missing a letter.

Why this matters

Send your complaint to the address printed there and it may never arrive. The correct spelling appears once earlier in the same document, on page 4.

Exhibit 12Notice

Contact Email: complaints@Ainvesting.eu and compaints@uptrend.bg
Clause 3.4 in Complaints Handling Policy, p.6
Read from the broker's site on Open the reference

Two documents, two different authoritative languages

Clause 22.1 of Up Trend's Client Agreement says English is the official language and translations have no binding legal effect. The General Terms and Conditions end by saying the Bulgarian text has legal value. Both documents are part of the same contract under clause 1.1.

Language arbitrage1 clause flagged

Clause 22.1 of the Client Agreement says English is the official language and other versions have no legal effect. The General Terms end by saying the Bulgarian text has legal value.

Why this matters

The English documents you read may not be the ones a Bulgarian court reads. Clause 1.1 makes all of these documents one agreement, so both statements are in your contract.

Exhibit 11WarningRarely seen

Translation and information in languages other than English are for informational purposes only and have no legal effect binding on the Company, and the Company is not responsible for the accuracy of the information contained in such a translation.
Clause 22.1 in Client Agreement. Terms & Conditions, p.24
Read from the broker's site on Open the reference

Our readingA language clause naming one authoritative text is normal. Two documents inside the same contract naming different authoritative languages is not, and neither says which one wins.

Promotion rules govern the account but are not published

Clause 1.1 of Up Trend's Client Agreement lists General Terms and Conditions for Promotions among the documents governing your account. That document is not among the 22 published on the legal page. Clause 14.2 lets Up Trend cancel any bonus awarded.

Missing document1 clause flagged

Clause 1.1 lists General Terms and Conditions for Promotions among the documents that govern your account. That document is not on Up Trend's legal page, which carries 22 others.

Why this matters

Clause 14.2 lets Up Trend cancel any bonus awarded. The wording says if currently applicable, so there may be no promotion running today.

Exhibit 13NoticeStandard wording

"Customer Categorization Policy", "Tariff" and "General Terms and Conditions for Promotions" (if currently applicable) found on Our Website
Clause 1.1 in Client Agreement. Terms & Conditions, p.3
Read from the broker's site on Open the reference

A single Bulgarian firm behind the Ainvesting brand

Up Trend Ltd. holds Bulgarian Financial Supervision Commission licence РГ-03-110 and trades as Ainvesting. Retail clients are covered by the Bulgarian Investor Compensation Fund for 90% of a claim, capped at EUR 20,451. Client money is held in segregated bank accounts under clause 16.1.

Who you contract with1 clause flagged

You contract with Up Trend Ltd. in Sofia, licensed by the Bulgarian Financial Supervision Commission under number РГ-03-110. Ainvesting is a brand of that same company.

Why this matters

Retail clients are covered by the Bulgarian Investor Compensation Fund for 90% of a claim, capped at EUR 20,451. Professional clients get nothing from it.

Exhibit 14NoticeStandard wording90%

The maximum amount of the compensation is 90% of the eligible client's claim but not more than EUR 20 451.
Clause 2.6 in Information regarding the Investor Compensation Fund, p.2
Read from the broker's site on Open the reference

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The Fees page halves the dormancy charge that Up Trend's own Tariff sets at $300 a month.

Said in public, in English

A Dormant Account Maintenance Fee of $150 USD per month is applied to Ainvesting accounts that are inactive for one year or more.

English Fees page, section 7, Dormant Account Maintenance Fee

In the contract · clause 3.4

Dormant account fee 300 USD

02

The pre-contractual disclosure required by law states $40 a month, against $300 in the Tariff that governs.

Said in public, in English

*A Dormant Account Maintenance Fee of up to $40 USD per month is assessed to Ainvesting accounts that are inactive for one year or more.

Key Information Document for CFDs on Forex, What are the costs?, page 3

In the contract · clause 3.4

Dormant account fee 300 USD

03

The understated $150 figure is published in every language version of the Fees page, including Polish.

Said in public, in Polish

Opłata za prowadzenie konta uśpionego w wysokości 150 $ miesięcznie jest stosowana do kont Ainvesting, które są nieaktywne przez rok lub dłużej.

Word for word in English: A dormant account maintenance fee of $150 a month is applied to Ainvesting accounts that are inactive for a year or longer.

Polish Fees page, section 7

In the contract · clause 3.4

Dormant account fee 300 USD

04

The Key Information Document says logging in avoids the fee, while the Tariff counts only trading activity.

Said in public, in English

In order to avoid this fee, simply log into your trading account from time to time, as this is deemed sufficient activity to prevent a fee from being charged.

Key Information Document for CFDs on Forex, inactivity fee note, page 3

In the contract

The account shall be marked inactivity if there's no trading activity observed for a period of 1 month

05

The Client Agreement denies any conflict of interest while the Order Execution Policy makes Up Trend the counterparty on every CFD.

Said in public, in English

We provide the Trading Platform for dealing in CFDs and do not carry out any competing activities which could give rise to a conflict of interest with Clients or between Clients.

Client Agreement, clause 2.7, headed Conflict of Interests

In the contract · clause 5.6.1

For the purposes of CFDs orders, the sole Execution Venue will be the Company through the Trading Platforms on its website: Ainvesting.eu.

06

The Fees page promises free deposits while clause 18.2 allows a 3% spread on any currency outside a list of five.

Said in public, in English

Ainvesting does not charge any fees for deposits.

English Fees page, section 2, Deposit Fees

In the contract · clause 18.2

If the Client pays in his card currency, the Company will be allowed to charge a fixed spread of 3%.

The documents this reading is based on

27 files, all published by UP TREND. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording UP TREND publishes.

How this reading was done

Every clause above was read out of a document UP TREND publishes itself

This reading was published on .

Documents
7 of 27downloaded from the broker's site of the 40 we found, and 7 read in full
Pages opened
45pages walked to find those documents, footer links included
Marketing pages
11public pages set against what the contract says
Languages
EN vs PLthe language it advertises in, against the language it contracts in

Who the contract is with

Up Trend Ltd.

You contract with Up Trend Ltd., registered in Bulgaria under UIC 121527003 at 51A Nikola Y. Vaptsarov Blvd., Sofia. Ainvesting is a brand of that same company, not a separate firm, and the Complaints Handling Policy says so directly. One entity holds the licence and signs the contract, which is cleaner than most brokers manage. The Client Agreement footer spells the name Uptrend Ltd while clause 40.1 defines it as Up Trend Ltd. The General Terms also name 8invest.eu as a platform website of the same company.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

Up Trend publishes 22 legal documents on one page, all free to download and all in English. Client money sits in segregated bank accounts under clause 16.1. Negative balance protection is explicit in clause 20.4, so you cannot lose more than your equity. Retail clients are covered by the Bulgarian Investor Compensation Fund up to EUR 20,451. The General Terms name the Sectoral Conciliation Commission, a free public dispute body, and the Complaints Handling Policy sets no deadline for making a complaint. ESMA leverage caps of 30:1 down to 2:1 are applied and spelled out in clause 8.5.

We read five documents end to end. Those were the Client Agreement, the Tariff, the Complaints Handling Policy, the Conflict of Interest Policy and the Investor Compensation Fund note. We read only parts of eleven more, including the General Terms and Conditions, the Order Execution Policy, the Risk Disclosure and the seven Key Information Documents. Quotations from those eleven come from the sections we opened, not from a full reading. We did not read the Privacy Policy, the Cookies Policy, the Glossary, the licence scan or the Annual Disclosure and Market Discipline Report. Seventeen Bulgarian PDFs on uptrend.bg, mostly annual regulatory disclosures, would not open at all and we did not read any of them. No earlier copy of any document could be retrieved, so nothing here rests on a comparison with an older version.

How to check any of this yourself

Every quote above links to the UP TREND file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document UP TREND publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge UP TREND on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Aug 22, 2026.

If you represent UP TREND and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on UP TREND. Whether its licence is real and current is a separate check on the broker profile.

Back to the UP TREND profile