Upcomers.com Review

Based on checking the website Upcomers.com, it presents itself as a prop trading firm offering traders the opportunity to trade with simulated capital and earn real profits.

However, as an Islamic blog, it’s crucial to highlight that engaging in such activities, even with “simulated capital” that leads to “real profits,” often involves elements that are not permissible in Islam, particularly concerning financial transactions that mimic or lead to interest riba, excessive uncertainty gharar, or speculative activities akin to gambling.

The model of prop trading, where a firm provides capital in exchange for a share of profits, can easily fall into these impermissible categories if not structured with strict adherence to Islamic finance principles.

Here’s an overall review summary:

• Website Presentation: Professional and modern design, easy navigation.
• Stated Purpose: Offers simulated trading accounts with the potential for real profit payouts.
• Key Claims: Up to $2,500,000 in simulated capital, 95% profit share, 24-hour payouts, no time limits, transparent rules.
• Islamic Ethical Standing: Not Recommended. The core business model involves trading financial instruments forex, crypto, stocks, etc. which, within a prop trading context, typically involves elements of speculation, interest-based gains even if indirectly through the underlying financial instruments or the firm’s operational structure, and excessive uncertainty gharar in the profit-sharing and challenge mechanisms. These elements generally contradict Islamic financial principles.
• Trust Indicators: Mentions “Headquartered in Dubai,” “Strong cash reserves,” “In-House Technology,” customer testimonials, and multi-language support. However, these do not negate the fundamental concerns from an Islamic perspective.

The detailed explanation reveals a platform designed to attract traders seeking capital.

0.0 0.0 out of 5 stars (based on 0 reviews) Excellent0% Very good0% Average0% Poor0% Terrible0% There are no reviews yet. Be the first one to write one. Your review Your overall rating Select a Rating5 Stars4 Stars3 Stars2 Stars1 Star Title of your review Your review Your name Your email This review is based on my own experience and is my genuine opinion. ​ Submit Review

Amazon.com: Check Amazon for Upcomers.com Review Latest Discussions & Reviews:

While the promises of fast payouts and high profit shares are appealing on the surface, the underlying mechanics of prop trading, especially when dealing with leveraged instruments and speculative markets, are problematic from an Islamic finance standpoint.

The emphasis on “making money” through trading challenges, where one “proves profitability and consistency” to “get huge capital for trading,” bears a strong resemblance to high-risk financial speculation, which is generally discouraged in Islam due to its potential for excessive risk, unjust enrichment, and entanglement with interest-based systems.

It’s a field where the lines between permissible and impermissible can become very blurred, and prudence dictates avoiding such ventures to maintain financial integrity according to Islamic teachings.

Instead of engaging in speculative trading, consider these ethical and productive alternatives for wealth generation and skill development:

• Etsy: An excellent platform for artisans and crafters to sell handmade or vintage items and craft supplies. It promotes direct trade, supports small businesses, and values craftsmanship.
• Udemy: A global online learning platform offering courses on a wide range of subjects, from programming and marketing to personal development and productivity. It focuses on knowledge acquisition and skill-building, leading to tangible value.
• Coursera: Partners with universities and organizations worldwide to offer online courses, specializations, and degrees. It emphasizes acquiring accredited knowledge and skills for career advancement.
• Upwork: A leading freelancing platform connecting businesses with independent professionals for various services like writing, web development, graphic design, and virtual assistance. It promotes ethical labor for fair compensation.
• Fiverr: Another popular freelancing marketplace where individuals can offer their services gigs to clients worldwide. It’s known for its diverse range of services and accessibility.
• Amazon KDP: Amazon’s Kindle Direct Publishing platform allows authors to self-publish e-books and paperbacks for free and reach millions of readers. It encourages knowledge dissemination and creativity.
• Shopify: A comprehensive e-commerce platform that enables individuals and businesses to create their online stores and sell products. It facilitates direct, ethical commerce and entrepreneurship.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Upcomers.com Review & First Look

Based on an initial review of Upcomers.com, the website presents itself as a modern, next-generation prop trading firm.

The immediate impression is one of professionalism and a clear, user-friendly interface.

The site highlights its core offering: enabling traders to use simulated capital, up to $2,500,000, and earn real profits.

This model, while increasingly popular in the financial world, requires careful scrutiny, especially from an ethical standpoint within an Islamic framework.

Understanding the Prop Trading Model

Proprietary trading prop trading fundamentally involves a firm trading its own capital to make a profit, rather than trading on behalf of clients. Cookercentre.com Review

In the context of firms like Upcomers.com, it appears to be a hybrid model where individuals pay a fee to demonstrate trading skills on a simulated account.

If successful in these “challenges,” they are then granted access to a “funded account,” supposedly with the firm’s capital, to trade and share profits.

• Simulated vs. Real Trading: The distinction between simulated and real trading is crucial. While the challenges are simulated, the promise of “real profits” from a “funded account” connects this activity to the underlying financial markets.
• Risk Transfer and Profit Share: The model essentially transfers some level of screening and initial risk to the individual trader during the challenge phase, while the firm ultimately funds successful traders. The profit-sharing model up to 95% for the trader is a key incentive.
• Financial Instruments: Upcomers.com mentions trading crypto, energies, Forex, metals, indices, and stocks. These are diverse financial instruments, each with its own set of permissible and impermissible aspects in Islamic finance.

Initial Impressions and Red Flags

Upon first glance, the site’s design and directness are positive.

However, certain aspects raise immediate questions from an Islamic perspective.

The entire premise revolves around generating wealth through financial markets, often involving speculative derivatives like forex and indices and potentially interest-bearing instruments. Laptop-battery-shop.com Review

• Speculative Nature: Trading in Forex, indices, and certain commodities, especially with leverage, can be highly speculative. Islamic finance generally discourages excessive speculation gharar where the outcome is highly uncertain and resembles gambling.
• Interest Riba Concerns: Many financial instruments, especially in traditional markets, are intrinsically linked to interest rates. Even if the firm itself doesn’t charge direct interest, profiting from an environment permeated by riba is problematic. For instance, holding certain currency pairs in Forex overnight can incur swap fees, which are interest-based.
• Lack of Transparency on Sharia Compliance: There is no mention of Sharia compliance or any effort to structure their operations according to Islamic principles. This is a significant omission for a platform that claims to have an office in Dubai, a hub for Islamic finance.
• “Order & Win” Promotion: The “Order & Win 10x $100k account!” promotion, while a common marketing tactic, can introduce an element of chance and reward, which could be seen as akin to a lottery, further blurring lines with gambling maysir.

The initial look suggests a platform focused on aggressive financial gain through activities that carry inherent risks and often involve elements that are contradictory to Islamic financial ethics.

The allure of “wealth” through rapid trading with substantial capital requires careful consideration of its permissibility.

Upcomers.com Concerns from an Islamic Perspective

When evaluating Upcomers.com through an Islamic lens, several significant concerns emerge regarding the permissibility and ethical nature of its core business model.

Islam provides clear guidelines for financial transactions, emphasizing justice, transparency, avoiding harm, and prohibiting interest riba, excessive uncertainty gharar, and gambling maysir.

The Nature of Financial Trading Riba, Gharar, Maysir

The primary concern with prop trading firms like Upcomers.com is their involvement in financial markets that often contain impermissible elements. Taskpay.me Review

• Riba Interest: Even if Upcomers.com doesn’t directly charge interest on its “capital,” the underlying instruments traded Forex, indices, stocks are often embedded in interest-based financial systems. For example, overnight positions in Forex trading often incur ‘swap’ fees, which are essentially interest payments. Profiting from a system where riba is integral is generally forbidden. According to the Quran 2:275, “Allah has permitted trade and forbidden interest.”
• Gharar Excessive Uncertainty: Many forms of speculative trading involve high levels of gharar. This refers to transactions with excessive uncertainty or ambiguity, where the outcome is largely unknown and dependent on chance, resembling gambling. Trading highly volatile instruments or complex derivatives without clear underlying assets can fall into this category. The Prophet Muhammad peace be upon him forbade transactions involving gharar as narrated by Muslim.
• Maysir Gambling: The “challenge” model, where individuals pay a fee to prove profitability and potentially gain access to large capital, can sometimes resemble gambling if the success hinges more on luck and speculation rather than genuine skill and productive effort. The promise of significant “profit” from rapid market movements often attracts individuals looking for quick, high returns, which can lead to habits akin to gambling. The Quran 5:90 explicitly prohibits gambling.

The “Simulated Capital, Real Profits” Model

Upcomers.com’s model of providing “simulated capital” during the evaluation phase, then “real capital” for funded accounts, needs critical examination.

• Lack of Tangible Exchange: Islamic finance emphasizes tangible exchanges and productive investments. Trading financial instruments, especially leveraged ones, often lacks this direct exchange of goods or services. The “profits” are derived from market fluctuations rather than value creation.
• Risk Management vs. Speculation: While trading can involve legitimate risk management e.g., hedging in real business transactions, the prop trading model as presented often encourages aggressive, speculative strategies to meet profit targets within a short timeframe. This can lead to excessive risk-taking, which is harmful both to individuals and the broader economy.
• Source of Capital and Profits: It is not explicitly clear how Upcomers.com generates its own capital or profits, nor the specific mechanisms through which they ensure their operations are free from riba. Without explicit Sharia compliance certification or clear details on their financial structuring, it’s safer to err on the side of caution.

Absence of Sharia Compliance Information

A critical red flag is the complete absence of any mention of Sharia compliance, Islamic finance principles, or certifications from Islamic scholars on their website.

For a firm operating in Dubai, a global hub for Islamic finance, this omission is significant.

Trust in Islamic financial matters is built upon transparency and adherence to divine law, not just strong cash reserves or in-house technology.

• Due Diligence: From an Islamic perspective, it is incumbent upon an individual to ensure that their earnings are halal permissible. Without clear evidence of Sharia compliance, one cannot be certain that the profits earned through Upcomers.com are free from impermissible elements.
• Ethical Considerations: Beyond just permissibility, Islam encourages ethical wealth accumulation through productive means, honest trade, and avoidance of unjust gain. The rapid, high-leverage trading environment often associated with prop firms can lead to a mindset driven by greed rather than principled economic activity.

In conclusion, while Upcomers.com offers an appealing proposition for those seeking to leverage capital for trading, its business model, involving speculative financial instruments and lacking clear adherence to Islamic financial principles, presents significant ethical and religious concerns. Skylightbroadband.com Review

It is advisable for Muslims to avoid such platforms and instead seek avenues for wealth generation that are explicitly Sharia-compliant and contribute positively to society through tangible goods and services.

Upcomers.com Pros & Cons Focus on Cons

While Upcomers.com attempts to present itself as a revolutionary prop trading firm, a deeper dive into its offerings, particularly from an ethical and Islamic finance perspective, reveals significant drawbacks that overshadow any potential advantages.

Cons of Upcomers.com

The primary concerns revolve around the ethical permissibility and the inherent risks associated with the prop trading model.

• Violation of Islamic Financial Principles:
  • Riba Interest: The trading of financial instruments like Forex, indices, and certain stocks often involves underlying interest-based mechanics e.g., swap fees on overnight positions. Even if profits are shared, the fundamental engagement with interest-bearing systems makes the venture problematic.
  • Gharar Excessive Uncertainty: The highly speculative nature of leveraged trading, especially in volatile markets like crypto and Forex, introduces excessive uncertainty. Profits and losses are contingent on unpredictable market movements, which can be likened to gambling.
  • Maysir Gambling: The “challenge” model, where a fee is paid for a chance to “win” a funded account and earn “profits” from market speculation, can lean towards gambling, particularly for those who are drawn by the allure of quick riches rather than genuine, productive investment. The “Order & Win 10x $100k account!” promotion reinforces this resemblance to a lottery.
  • Lack of Tangible Value Creation: Islamic finance encourages wealth creation through productive means, such as trade in real goods and services, manufacturing, or agriculture. Trading financial derivatives often involves merely profiting from price fluctuations without contributing to real economic value.
• High-Risk Environment and Psychological Impact:
  • Potential for Addiction: The pursuit of quick profits can lead to addictive behaviors, similar to gambling, where individuals become overly focused on market movements, neglecting other responsibilities.
  • Loss of Capital: Despite the “simulated capital” offer, traders pay real money for challenges. There’s a significant risk of losing this initial investment if the challenge isn’t passed, or even after becoming funded, if the rules are breached or markets move unfavorably.
• Transparency Gaps on Sharia Compliance:
  • No Explicit Sharia Board or Certification: Despite claiming headquarters in Dubai, there is no mention of a Sharia Supervisory Board, Sharia-compliant products, or any external certification of their operations being permissible according to Islamic law. This lack of transparency is a major red flag for Muslim users.
  • General Terms & Conditions: While they state “General terms & conditions in 10 world languages,” a general T&C does not equate to Sharia compliance. Specific clauses for interest avoidance, gharar mitigation, and ethical investment are crucial.
• Focus on Speculation over Productive Investment:
  • The entire premise is built on leveraging market movements for profit, which prioritizes speculation over long-term, sustainable, and productive investment strategies.
  • It encourages a mindset of quick gains rather than diligent effort, skill development in tangible fields, or participation in real economic growth.

Limited “Pros” from a secular, non-Islamic viewpoint, and still highly debatable

While we focus on the cons from an Islamic perspective, it’s worth briefly noting the purported “pros” that attract users, acknowledging their limitations.

• Access to Large Simulated Capital: For aspiring traders without significant personal capital, the offer of up to $2,500,000 in simulated capital can be appealing. However, this is only accessible after passing stringent, paid challenges.
• High Profit Share: A profit share of up to 95% is indeed very competitive compared to other prop firms.
• No Time Limits on some challenges: The “No Time Limits” claim for challenges could reduce pressure for some traders, theoretically allowing them more flexibility.
• Fast Payouts: A “within 24 hours, guaranteed” payout claim is attractive for traders seeking quick access to their earnings.
• Educational Aspect Debatable: The claim that their “rules and evaluation process actually helped become more disciplined” might suggest a self-regulatory effect for some. However, this discipline is geared towards market speculation, not necessarily ethical financial practice.

Ultimately, from an Islamic perspective, the “pros” are outweighed by the fundamental impermissibility and ethical concerns associated with the prop trading model. Everydayvoip.com Review

The benefits are tied to a system that often involves riba, gharar, and maysir, making it an unsuitable avenue for Muslims seeking halal earnings.

Upcomers.com Alternatives for Ethical Wealth Building

Given the concerns surrounding prop trading and its potential conflicts with Islamic financial principles, it’s vital to explore ethical and halal alternatives for wealth building and skill development.

These alternatives focus on productive economic activity, real value creation, and adherence to Sharia principles by avoiding interest, excessive uncertainty, and gambling.

1. Etsy – Productive Craft & Commerce

• Key Features: Global marketplace for unique, handmade, and vintage items. Easy store setup, integrated payment processing, marketing tools.
• Ethical Aspect: Promotes direct trade, craftsmanship, and support for small, independent creators. It’s about selling tangible goods or services, which is a permissible form of commerce.
• Average Price: Varies widely based on product type, from a few dollars to hundreds or thousands. Etsy charges listing fees, transaction fees, and payment processing fees.
• Pros: Low barrier to entry for entrepreneurs, access to a global customer base, strong community support, focus on unique, value-added products.
• Cons: Market can be saturated in some niches, requires effort in production and marketing, fees can add up for high-volume sellers.

2. Udemy – Knowledge & Skill Acquisition

• Key Features: Massive online course library covering virtually any topic, self-paced learning, downloadable resources, certificate of completion.
• Ethical Aspect: Focuses on acquiring beneficial knowledge and skills e.g., coding, marketing, design, language learning, which can then be applied to productive work or business. This is a form of investment in human capital.
• Average Price: Courses typically range from $12.99 to $199.99, but frequent sales make them highly affordable.
• Pros: Flexible learning schedule, wide variety of subjects, often very affordable, practical skill development.
• Cons: Quality can vary significantly between courses, certificates are not always accredited, requires self-discipline to complete courses.

3. Coursera – Structured Online Education

• Key Features: Partnerships with top universities and companies for courses, specializations, professional certificates, and degrees. Peer-graded assignments, graded quizzes.
• Ethical Aspect: Provides access to high-quality, often accredited education, fostering expertise and knowledge. This aligns with Islamic values of seeking knowledge and personal development for betterment.
• Average Price: Individual courses can be free audit mode or paid typically $39-$99 for a certificate. Specializations cost hundreds, and degrees cost thousands. Financial aid is available.
• Pros: High-quality content from reputable institutions, structured learning paths, professional certificates can boost careers, potential for university credits.
• Cons: Can be more expensive than other platforms, less flexibility than Udemy for some programs, requires significant time commitment.

4. Upwork – Ethical Freelancing

• Key Features: Connects freelancers with clients for a wide range of services: writing, web development, graphic design, virtual assistance, and more. Secure payment system, project management tools.
• Ethical Aspect: Facilitates direct, honest exchange of labor for fair compensation. Freelancing promotes self-sufficiency and the provision of valuable services. Avoids interest and speculative gains.
• Average Price: Varies based on service, experience, and project scope. Freelancers set their own hourly or fixed rates. Upwork takes a service fee 5-20%.
• Pros: Huge global client base, flexible work hours, diverse project opportunities, direct payment for services rendered.
• Cons: High competition, Upwork fees can be substantial, requires active marketing and proposal writing, initial period can be challenging to secure work.

5. Fiverr – Gig-Based Service Marketplace

• Key Features: Micro-services “gigs” starting from $5, wide variety of categories design, writing, video, programming, etc., easy gig creation, secure payment system.
• Ethical Aspect: Similar to Upwork, it’s based on providing specific services for a fee, promoting direct and ethical earning through skill application.
• Average Price: Gigs start from $5, but many offer packages and add-ons that significantly increase the price. Fiverr takes a 20% commission from sellers.
• Pros: Low barrier to entry, quick setup for selling services, high demand for various skills, good for quick income.
• Cons: High commission rate, intense competition, reputation building takes time, initial gigs might be low-paying.

6. Amazon KDP – Knowledge Dissemination & Creative Works

• Key Features: Self-publishing platform for e-books and paperbacks, global distribution through Amazon, royalty-based earnings, no upfront costs.
• Ethical Aspect: Promotes the creation and dissemination of beneficial knowledge, stories, and creative works. Earning through selling intellectual property is permissible.
• Average Price: Authors set their own prices. royalties are typically 35% or 70% of the list price, depending on factors like price point and delivery costs.
• Pros: Reach a massive global audience, retain full control over your work, no upfront publishing costs, passive income potential once published.
• Cons: High competition, marketing efforts are essential, takes time to write and publish a quality book, royalty rates can be lower than traditional publishing.

7. Shopify – Direct E-commerce Entrepreneurship

• Key Features: All-in-one e-commerce platform to build online stores, manage products, process orders, and handle payments. Includes marketing and analytics tools.
• Ethical Aspect: Enables direct trade of physical goods or services, which is a foundational aspect of permissible economic activity in Islam. It empowers individuals to run their own ethical businesses.
• Average Price: Monthly plans range from $29 to $299+, plus transaction fees if not using Shopify Payments.
• Pros: User-friendly platform, scalable for growing businesses, wide range of themes and apps, robust e-commerce features.
• Cons: Monthly subscription fees, requires effort in product sourcing/creation, marketing, and customer service, initial setup can be time-consuming.

These alternatives represent diverse pathways to building wealth and developing skills that align with Islamic ethical guidelines, promoting productive effort, tangible value, and avoiding the pitfalls of speculative and interest-based financial activities.

Horlogeband.com Review

How to Cancel Upcomers.com Subscription

If you’ve engaged with Upcomers.com and wish to cancel your subscription or stop your involvement, it’s crucial to understand the process.

Given the nature of their business model, which involves challenges and potential funded accounts, “cancellation” might refer to different actions.

Understanding Upcomers.com’s “Subscription” or Service

Upcomers.com primarily operates on a model where users purchase “challenge accounts” rather than traditional recurring subscriptions for software or content.

However, this purchase acts as your entry into their ecosystem.

The goal is to pass these challenges to potentially become a “funded trader.” Therefore, “canceling” typically refers to discontinuing your participation in a challenge or closing your account. Localhi.com Review

Steps to Discontinue Participation or Close Account

1. Review the Terms and Conditions: Before taking any action, always refer to the official “General Terms & Conditions” and any specific terms related to your chosen “challenge account” on the Upcomers.com website or their help center help.upcomers.com. Look for clauses related to refunds, account termination, and withdrawal policies.
2. Access Your Dashboard/Account Settings: Log into your Upcomers.com dashboard app.upcomers.com/auth/login. Most online platforms have a section dedicated to account management, settings, or profile.
3. Look for Account Deactivation/Closure Options:
   • Navigate through your profile or account settings.
   • Search for options like “Deactivate Account,” “Close Account,” “Manage Subscriptions,” or “Cancel Service.” These options might be under “Security,” “Billing,” or “Preferences.”
   • If you’re in an active challenge and wish to stop, you might simply cease trading on that account. However, if you’re seeking a refund for an unstarted challenge or full account closure, you’ll need to follow their specific process.
4. Contact Customer Support Directly: If you cannot find a clear option to close your account or have specific questions about discontinuing a challenge or potential refunds, direct communication with their customer support is the most effective route.
   • The website mentions “Premium Customer Support” and “Specialist Support – Real traders on support, ready to assist you.”
   • Look for a “Contact Us” link, email address, or live chat option on their website or within your dashboard. Their FAQ section help.upcomers.com/en/ is a good starting point for finding contact methods.
   • Clearly state your intention: whether you want to discontinue a challenge, close your entire account, or inquire about a refund for a recent purchase.
5. Confirm Cancellation/Closure: After initiating the process, ensure you receive a confirmation email or message from Upcomers.com. This serves as proof that your request has been processed. Keep records of all communications.

Important Considerations:

• Refunds for Challenges: Be aware that challenge fees are typically non-refundable once the challenge has started or a certain period has passed, as these are viewed as service fees for the evaluation process. Check their refund policy meticulously.
• Data Retention: Even after account closure, some platforms may retain certain data for a period due to legal or regulatory obligations.
• Ethical Disengagement: From an Islamic perspective, by disengaging, you are taking a step to move away from activities that carry ethical concerns related to riba, gharar, and maysir.

By following these steps, you can effectively manage your account with Upcomers.com and ensure a clear discontinuation of services, paving the way for more ethically aligned financial endeavors.

How to Cancel Upcomers.com Free Trial

Upcomers.com, as presented on its homepage, does not appear to explicitly offer a “free trial” in the conventional sense e.g., a trial period for a software subscription. Their model revolves around purchasing “challenge accounts” to qualify for simulated trading with potential real profits.

Therefore, the concept of “canceling a free trial” doesn’t directly apply here.

Understanding Upcomers.com’s Entry Model

Instead of a free trial, Upcomers.com’s entry point is the purchase of a challenge account. These accounts come with various simulated capital sizes e.g., $10k, $25k, $50k and a corresponding one-time fee. The user pays this fee to participate in an evaluation process designed to assess their trading skills.

What to Do If You’ve Paid for a Challenge Account and Wish to Stop

If you have purchased a challenge account and wish to discontinue your participation or seek a refund, this is what you should consider: Buriallink.com Review

1. Review the Refund Policy: Your first step should be to thoroughly examine Upcomers.com’s refund policy. This policy will dictate if and under what conditions you can get your money back for a purchased challenge account. Typically, such firms have strict refund policies:
   • Refunds might only be available if the challenge has not been started at all.
   • There might be a very short window e.g., 24-48 hours from the time of purchase during which a refund can be requested, provided no trading activity has occurred.
   • Once you begin trading on the simulated account, it’s highly unlikely you’ll be eligible for a refund, as the service access to the challenge has been rendered.
   • Look for the refund policy in their FAQ section help.upcomers.com/en/ or their general Terms and Conditions.
2. Contact Customer Support Immediately: If you just purchased a challenge account and have not started trading, contact Upcomers.com’s customer support as quickly as possible.
   • Be clear and concise: State that you wish to cancel your recent purchase and request a refund, specifying the date and time of purchase and your account details.
   • Use available channels: Check their website for live chat, email, or a support ticket system. The website mentions “Premium Customer Support,” so utilize those channels.
3. Stop All Trading Activity: If you’re currently in a challenge and decide to stop, simply cease all trading activity on that simulated account. There’s no ongoing subscription to “cancel” in this scenario. Your participation in that specific challenge will simply end, usually without eligibility for a refund of the initial fee.
4. Consider Account Closure Optional: If you wish to completely disassociate from Upcomers.com after discontinuing a challenge or failing to get a refund, you might consider closing your entire account. Refer to the “How to Cancel Upcomers.com Subscription” section for guidance on full account closure.

Why No “Free Trial” is Typically Offered

Prop trading firms usually don’t offer free trials for their challenge accounts because the challenge fee is their initial revenue stream for the screening process.

It serves as both a barrier to entry filtering out non-serious participants and a compensation mechanism for the resources used to evaluate traders.

From an Islamic perspective, even if a free trial were offered, the underlying activity of speculative trading with its inherent concerns riba, gharar, maysir would remain problematic.

It’s best to avoid engaging with such platforms, regardless of the trial model.

Focus on alternatives that align with ethical and halal principles from the outset. Topmodern.com Review

Upcomers.com Pricing

Upcomers.com’s pricing structure revolves around the purchase of “challenge accounts,” which are essentially one-time fees paid to gain access to a simulated trading environment. The price you pay is directly correlated with the size of the simulated capital you wish to trade and the specific “program” or “challenge” you choose.

Breakdown of Upcomers.com’s Pricing Model

Upcomers.com offers various “Upcomers Programs” or “Challenges” with different account sizes and corresponding fees.

While the exact, real-time pricing isn’t explicitly laid out in a table on the provided homepage text, the general model is clear:

• Fixed Fee for Challenge Accounts: You pay a one-time, upfront fee for access to a simulated trading account of a certain size e.g., $10,000, $25,000, $50,000, $100,000, up to $2,500,000. The larger the simulated capital, the higher the fee.
• “PROMOCODE: UPMARCH25”: The homepage prominently displays a “PROMOCODE: UPMARCH25” offering “25% OFF ALL.” This indicates that the base prices are subject to discounts, common in such competitive markets.
• “Order & Win 10x $100k account!”: This promotional offer suggests that there are opportunities to potentially receive a larger account through a specific order or contest, which might involve a purchase.
• No Recurring Subscriptions: Based on the description, there isn’t a traditional recurring monthly or annual subscription fee after the initial challenge purchase. The ongoing cost, if any, would be if a trader repeatedly purchases new challenge accounts after failing previous ones.
• Profit Split: Once a trader passes a challenge and receives a “funded account,” the firm retains a percentage of the profits. Upcomers.com states a “High Profit Share – Keep up to 95% of your profits,” and also mentions “80% Profit Split” elsewhere. This discrepancy might depend on the program chosen or be subject to terms. The firm’s revenue, in this phase, comes from the share of profits generated by successful traders.

Example Pricing Illustrative, as exact figures are not provided in the text

Based on industry standards for prop trading firms, typical challenge fees can range significantly:

• Smaller Accounts e.g., $10,000 – $25,000 simulated capital: Fees might range from $100 – $300.
• Medium Accounts e.g., $50,000 – $100,000 simulated capital: Fees could be $300 – $800.
• Larger Accounts e.g., $250,000 – $2,500,000 simulated capital: Fees could range from $1,000 to several thousands of dollars.

Note: These are illustrative ranges based on common prop firm models and are not definitive for Upcomers.com. Users would need to visit their “Get Started” or “Pricing” section to see the exact current fees. Cotswoldteak.com Review

How Upcomers.com Earns Money

Upcomers.com’s revenue streams primarily come from:

1. Challenge Fees: The upfront fees paid by thousands of aspiring traders for their evaluation accounts. A significant percentage of traders do not pass these challenges, meaning the firm retains these fees.
2. Profit Share: For successful traders who pass the challenges and are funded, Upcomers.com takes a percentage of the profits generated on the “funded accounts” e.g., 5% or 20% based on their claims.
3. Commissions/Spreads: While the website states “low spreads and commissions,” prop firms often earn a small markup on trades executed through their connected brokers.

Ethical Concerns with the Pricing Model

From an Islamic perspective, the pricing model, tied to the underlying speculative trading activity, remains problematic.

• Fee for a Chance: The challenge fee is paid for a chance to prove trading skills and potentially get a funded account. If the challenge is not passed, the fee is lost, which can resemble paying for a lottery ticket where the prize is access to further speculative activity.
• Profit Sharing from Impermissible Sources: Even the profit share, if derived from impermissible trading activities e.g., those involving riba, gharar, or maysir, would render the earnings problematic from an Islamic standpoint.

Therefore, while the pricing may seem appealing for those seeking access to capital, the fundamental ethical issues tied to the nature of the service persist.

Upcomers.com vs. Ethical Alternatives

When comparing Upcomers.com with ethical alternatives, it’s not a direct feature-for-feature comparison of similar services.

Instead, it’s a fundamental divergence in approach to wealth generation and economic activity. Seescents.com Review

Upcomers.com, like other prop trading firms, operates within a financial paradigm that, from an Islamic perspective, is fraught with concerns related to interest riba, excessive uncertainty gharar, and gambling maysir. Ethical alternatives, on the other hand, focus on creating real value, tangible products, skill development, and honest services.

Upcomers.com Speculative Trading Model

• Core Business: Providing simulated capital for trading financial instruments Forex, crypto, indices, stocks with the promise of real profit payouts.
• Revenue Model: Challenge fees from aspiring traders and a profit share from successful funded traders.
• Pros from a non-Islamic, purely financial ambition standpoint:
  • Potential access to large trading capital without personal investment.
  • High profit-sharing percentage for successful traders.
• Cons especially from an Islamic and ethical perspective:
  • Harbored Impermissible Elements: Directly or indirectly involves riba interest, gharar excessive uncertainty/speculation, and maysir gambling. The underlying instruments and the challenge mechanism often fall into these categories.
  • Lack of Real Value Creation: Profits are derived from market price fluctuations rather than the production of goods or services.
  • High Risk of Loss: While funded accounts use the firm’s capital, the initial challenge fees are non-refundable for most participants. The psychological toll of high-stakes trading is also significant.
  • No Sharia Compliance: Absence of any Sharia oversight or certification, which is critical for Muslims.
  • Focus on Quick Gains: Promotes a mindset of rapid wealth accumulation through speculation rather than diligent, productive work.

Ethical Alternatives Productive & Value-Based Models

Ethical alternatives focus on creating value, providing tangible goods or services, and engaging in transparent, just transactions.

These methods align with Islamic principles of halal earnings.

1. Etsy Handmade & Vintage Marketplace
   • Comparison: Unlike speculative trading, Etsy facilitates the sale of physical products handmade, vintage, craft supplies or digital patterns. This is direct, tangible commerce, which is permissible. Profits come from value created and exchanged.
   • Ethical Advantage: Supports artisans and small businesses, encourages creativity and craftsmanship, based on real products and fair trade.
2. Udemy & Coursera Online Education & Skill Development
   • Comparison: Instead of trading for profit, these platforms enable investment in human capital. Learning new skills coding, writing, marketing, design can lead to earning through legitimate employment or freelancing.
   • Ethical Advantage: Promotes knowledge acquisition seeking knowledge is highly encouraged in Islam, self-improvement, and preparation for productive work. Earnings are based on providing valuable skills or services.
3. Upwork & Fiverr Freelancing Platforms
   • Comparison: These platforms connect skilled individuals directly with clients who need services. Earnings are based on labor and expertise provided for specific projects, which is a clear, permissible exchange.
   • Ethical Advantage: Promotes honest work, skill utilization, self-sufficiency, and direct compensation for services rendered, avoiding speculative and interest-based transactions.
4. Amazon KDP Self-Publishing
   • Comparison: Allows individuals to profit from intellectual property books, educational content. It’s about creating and disseminating beneficial knowledge or stories, and earning royalties from their sale.
   • Ethical Advantage: Encourages beneficial knowledge, creativity, and passive income from intellectual effort, without engaging in speculative markets.
5. Shopify E-commerce Platform
   • Comparison: Empowers individuals to set up their own online stores and sell physical products or digital goods. This is a direct form of trade and entrepreneurship.
   • Ethical Advantage: Promotes direct commerce buying and selling of real goods, entrepreneurship, and value chain creation, firmly grounded in permissible economic activity.

In summary, Upcomers.com represents a high-risk, speculative financial model with significant ethical challenges from an Islamic standpoint.

Werenters.com Review

The alternatives offer diverse, productive, and ethically sound pathways to wealth building through skill development, entrepreneurship, and engaging in real-world trade and services, all of which align with Islamic principles of permissible earnings.

FAQ

What is Upcomers.com?

Upcomers.com presents itself as a prop trading firm that allows individuals to trade with simulated capital, ranging up to $2,500,000, and potentially earn real profits from successful trading.

Is Upcomers.com permissible in Islam?

No, Upcomers.com is generally not considered permissible in Islam due to its involvement in speculative trading activities Forex, indices, crypto that often contain elements of interest riba, excessive uncertainty gharar, and resemble gambling maysir.

What are the main concerns with Upcomers.com from an Islamic perspective?

The main concerns include its reliance on financial instruments often linked to interest, the speculative nature of trading which involves excessive uncertainty, and the “challenge” model that can resemble gambling where fees are paid for a chance to win.

Does Upcomers.com have a Sharia compliance certificate?

Based on the provided homepage text, there is no mention of a Sharia compliance certificate, Sharia supervisory board, or any adherence to Islamic financial principles. This is a significant red flag for Muslim users. Loveyourskinprogram.com Review

How does Upcomers.com work?

Upcomers.com typically works by having users purchase a “challenge account” to trade with simulated capital.

If they meet specific profit targets and rules during the challenge, they can then qualify for a “funded account” where they trade with the firm’s capital and share profits.

What is a “prop trading firm”?

A prop trading firm is a company that trades its own capital in financial markets to make a profit.

In the context of firms like Upcomers.com, it often refers to a model where individuals are evaluated for their trading skills and then provided with capital to trade for the firm, sharing the profits generated.

Is trading Forex on Upcomers.com allowed in Islam?

Trading Forex, especially with leverage, is generally considered impermissible in Islam due to its speculative nature, the presence of interest swap fees in overnight positions, and the lack of tangible exchange of currencies at spot value, which introduces elements of riba and gharar. Newyorkcables.com Review

Does Upcomers.com offer a free trial?

Based on the information, Upcomers.com does not explicitly offer a free trial.

Its entry model involves purchasing “challenge accounts,” which are paid evaluations to qualify for potential funded trading.

How do I cancel a challenge account on Upcomers.com?

To “cancel” a challenge account, you would typically stop trading on the simulated account.

For a refund, you would need to contact their customer support immediately after purchase, checking their refund policy for eligibility, which usually requires that the challenge has not been started.

How do I close my Upcomers.com account?

You would need to log into your Upcomers.com dashboard and look for account deactivation or closure options in your settings, or contact their customer support directly to request account closure. Davids-tailoring.com Review

What is the profit share offered by Upcomers.com?

Upcomers.com states a “High Profit Share – Keep up to 95% of your profits” and also mentions an “80% Profit Split” in different sections of the homepage. This might vary by program or terms.

What financial instruments can be traded on Upcomers.com?

Upcomers.com mentions trading crypto, energies, Forex, metals, indices, and stocks.

Are there time limits for the trading challenges on Upcomers.com?

Upcomers.com claims “No Time Limits” for completing their challenges, which could be a factor that distinguishes them from some other prop firms that impose strict deadlines.

Where is Upcomers.com headquartered?

Upcomers.com states it is “Headquartered in Dubai” and also mentions having offices in the Czech Republic & U.A.E.

What are the key features highlighted by Upcomers.com?

Key features highlighted include optimal trading conditions, in-house technology, transparent rules, innovation focus, and a customer-first approach.

Does Upcomers.com have strong cash reserves?

Yes, Upcomers.com claims to have “Strong cash reserves” and “10+M Cash Reserves” to ensure payouts.

What are some ethical alternatives to Upcomers.com for earning money?

Ethical alternatives include platforms for selling handmade goods like Etsy, online education and skill development platforms like Udemy and Coursera, freelancing sites like Upwork and Fiverr, self-publishing through Amazon KDP, and building an e-commerce business with Shopify.

Why are these alternatives better from an Islamic perspective?

These alternatives are better because they focus on creating real value, providing tangible goods or services, developing beneficial skills, and engaging in direct, transparent commerce, thereby avoiding elements of riba, gharar, and maysir.

Does Upcomers.com use a white-label solution?

No, Upcomers.com states, “We don’t use any white-label solution.

We have our own softwares and we are not dependent on any dashboard provider.”

How fast are payouts from Upcomers.com?

Upcomers.com claims to offer “Fastest Payouts – Get your money within 24 hours, guaranteed.”