UFX Review 2018
UFX is a leading international online forex and CFD broker that was established in 2007. The broker operates with an STP (Straight-Through-Processing) business model and is MiFiD compliant as well as being regulated by several financial regulatory agencies around the world. They use several state of the art trading platforms that are able to cater to different categories of traders. They offer traders a wide selection of assets to trade with and aim to provide their traders with the highest level of quality services. With numerous awards of excellence behind the UFX brand, traders can rest assured that UFX will make every effort to ensure that their traders can stay 100% focused on their trading objectives.
UFX Video Review
UFX Reliability – Is UFX a scam?
Having already been operational for a decade, the UFX brand is relatively well known among the online trading community. The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC) and as such is MiFID compliant. This means that UFX is authorized to offer its services across the 30 member states of the European Economic Area (EEA).
In addition to being regulated by CySEC, UFX is registered with several of the leading financial regulatory bodies in Europe. They are also regulated by the Belize International Financial Services Commission (IFSC) for their operations outside of the EEA. This mean UFX clients’ money are safe since their deposits are being monitored and controlled by these regulatory authorities.
Apart from providing their clients with a well regulated trading environment, UFX has also ensured that their clients can trade the financial markets with reliable and stable trading platforms. This is done by providing proven trading platforms such as the MetaTrader 4 platform and ParagonEX WebTrader.
Their customer support service is also considered one of the best in the industry with localized coverage up to 23 different countries. To date, no other forex broker has such a broad coverage around the globe. Hence, it is not surprising to find that UFX have won numerous awards recognizing the quality of the services that it has been able to offer to traders. For example, UFX won the award for “2015 Best Value Forex Broker” and “The European 2015 FX Broker of the Year”. If the issue of whether UFX is a reliable broker, all these factors when taken into consideration will definitely reassure anybody who has any doubts about UFX’s reputation.
UFX offers their traders a choice of 3 main types of trading platforms. They include the popular MetaTrader 4 (MT4) platform, the ParagonEX WebTrader and the UFX Mobile trading apps.
This is the industry standard trading platform and is used by brokers and traders all over the world. The platform is popular due to its user friendly interface as well as wide range of sophisticated trading tools that comes intergrated with the platform. In addition, the platform also supports automated trading with the use of Expert Advisors (EAs).
The ParagonEx 4.0 WebTrader requires no software download and installation. Traders can just trade the market simply by using their web browser. And with UFX’s unique MassInsights™ technology, traders can trade the markets based on real time updates of market events and aggregate traders’ behaviour.
Mobile Trading Apps
With UFX’s mobile trading solution, traders can rest assured that they won’t miss out on any trading opportunity even when they are away from their desktop computers. The mobile trading app is available for both iOS and Android powered devices and comes with features such as MassInsights™ Technology and advanced asset charts & trading tools.
UFX has made it very affordable for traders to open a live trading account with them by requiring only a low minimum initial deposit of just $500 for their beginner trading accounts. But for traders who have different trading needs than those of a beginner trader, UFX has 4 other different types of trading accounts for them to choose from.
- 24 hour live support
- Access to video library
- Daily Market recommendations
- Daily marketreviews
- Minimum deposit of $500
- Personal trading trainer
Standard Trading Account
- All features of mini trading account
- Exclusive market updates
- Minimum deposit of $1,000
- VIP trading support
Gold Trading Account
- Access to MT4 platform
- All features of mini trading account
- Minimum deposit of $5,000
- SMS trading alerts
Platinum Trading Account
- Minimum Deposit of $10,000
- All features of Gold Trading Account
- For traders wanting to abide by Shariah law regarding interest
Minimum deposit of $1,000
Commission & Spreads
The spreads which UFX offers to their traders are fixed and is based on the type of trading account that the trader is trader from. For the Mini trading account, the minimum spread starts from 4 pips for the EUR/USD currency pair. For the Standard account, the spreads start at 3 pips and 2 pips for the Gold and Platinum accounts.
UFX understands that the support provided by the customer service team is extremely important to traders. Hence they have made it very easy for their clients to contact customer support on a 24 hour basis. In addition, their clients can reach the support team through several methods such as email, live chat, Whatsapp, Viber and the telephone. Telephone support is further enhanced with the provision of localised telephone numbers across 23 different countries.
- Choices of trading accounts
- Localised support
- Multiple Trading Platforms
- Regulated Broker
- State of the Art Technology
- Higher than average spreads
- Minimum initial deposit higher than average
- No deposit Bonus
- Social Trading unavailable
UFX, regulated by several financial regulatory agencies, is able to offer their traders a safe and secured trading environment. In addition, they use the latest technology to ensure that their traders stay updated with the dynamic conditions in the markets in real time.
|Number Of Employees||200|
Trading Account Options
UFX Trading Features
|24 Hours Support||Yes|
|Support During Weekends||Yes|
Customer Support Languages
|Supported Trading Platforms||MT4, ParagonEX|
|Promotion info||Official Site|
|The Only Loyalty Programme Awarding You Cashback for Every Trade You Make|
Every available asset on UFX's trading platform offers Cashback when opening a trading position on it. You can claim your Cashback and transfer what you earned to your balance when you complete your assigned Trading Target.
- 5.0My review on UFX
- 4.0Real Time Updates in trading conditionsLeon Gaertner
- 5.0Authorized and Regulated BrokerEdward Burkholder
- 4.0Attractive Rewards for loyal tradersLee Barber
- 5.0Several choices of Advanced Trading PlatformsDouglas Juarez