UFX

Details

BrokerUFX
Website URLwww.ufx.com
Founded2007
HeadquartersCyprus
Support Number+44.208.150.0778 ( UK ) , +800.035.702.407 ( UAE ) , +65.3158.1715 ( Singapore ) , +852.5808.2484 ( Hong Kong ) , +1.647.243.8560 ( Canada )
Support TypesLive Chat , E-mail , Phone
LanguagesEnglish , German , French , Spanish , Italian , Czech , Dutch , Polish , Romanian , Swedish , Turkish , Russian , Greek , Arabic , Chinese , Japanese
Trading PlatformParagonEX Trader ( web) + MassInsights™ technology | Metatrader 4
Minimum 1st Deposit$50
Minimum Account Size$50
Minimum Trade Amount$125
Leverage1:400
Spreadfrom 2 pips ( EUR/USD )
Free Demo Account Open Demo
Regulated Yes
RegulationCySEC- Cyprus (License number 127/10 ) , and FCA -UK ( license number 473312 ).
Account TypesMicro
Deposit MethodsSkril , Neteller , Credit card , Bank transfer , CashU , Bitcoin , iDeal , Neosurf , China UnionPay , Qiwi , Webmoney , Poli ,
Withdrawal MethodsSkril , Neteller , Credit card , Bank transfer , CashU
Types of AssetsMetals, Oil, Gold, Indices, Stocks, Commodities, EFTDs and CFDs
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score4.5

Pros

  • Money cashbacks up to $5000
  • Free Demo Account
  • EU / UK regulated
  • Islamic Accounts
  • Leverage up to 400:1
  • Fixed Spreads from 2 pips
  • UFX's MassInsights™ Technology
  • Promotion: Earn Cashback with every trade you made
  • Free Education tools
  • All funds in segregated bank accounts in UK

Cons

  • Not variable spreads and higher than competitors

Last UFX Review update: 21th July 2017

UFX is a well-known award winning online forex broker, founded in 2007, and fully regulated in Europe by CySEC ( Cyprus Securities Exchange Commission )  with license number 127/10, and authorized by FCA in UK with license number 473312. Currently its platform is used by over 100,000 traders from around the world.

UFX review - Homepage

Trading Platforms

UFX uses two trading platforms:

1) ParagonEx Trader, a very easy to use web-based platform.

2) Metatrader 4 (MT4)  a popular desktop platform  used worldwide. The interface is easy to use and very friendly; it enables users who are beginners and also experts to trade with advance features which the Meta Trader offers.

From 2016 they are offering traders the new revolutionary MassInsights™ Technology, providing  real-time market data and events and agregated trader behaviour.

UFX review - platform

Trades / Accounts

Once you have opened an account with UFX you will be able to trade from your real account, the trading is live and it gives the user trading information which is not only in real time but also with expert analysis etc. There are also five accounts which include:

• Mini and Micro Accounts
• Standard Account
• VIP Accounts there is Gold and Platinum
• Islamic Accounts

There is also a demo account which you can use to enable yourself to get used to using a real account. There are also minimum amounts that you can deposit into each of the accounts that UFX.com has to offer its users and these are:

  • Micro Accounts: $50-$499
  • Mini Accounts: $500 – $999
  • Standard Accounts: $1000 – $4999
  • Gold Accounts: Gold: $5,000 – $9,999
  • Platinum Accounts: Over $10,000
  • Islamic Accouts: Over $1000

Islamic Accounts

Yes, Its Islamic account adheres to the Islamic laws on banking, so swap free accounts where you can trade with no fees and interests.

Commissions and Spreads

One thing that traders need to know is how much money they are making and to be able to determine this they use something called pips. They also help traders work out how much their transactions cost. Not one trader is charged a commission by any of their brokers, so what UFX have done is get their traders to pay for something that is called a spread. So what is a spread? It is:

• A currency pair and the difference between buying and selling prices

They offer fixed spreads from 2 pips ( EUR/USD ) , 3 pips ( GBP/USD ) , 50 ( Gold – commodities )  and 5 ( Oil – commodities ).

Customer Service

UFX.com has a great customer service available to all traders and the level of customer service also depends on the type of trading account that the trader has. The following customer service options that are available are:

• Email
• Live Chat which supports many different languages
• Telephone

Deposit Options & Safety

In order to make deposits into your account, there are many different options available including:

• Skrill ( Moneybookers )
• CashU
• Bank Transfers
• Credit Card Deposits

Once you have funds available in your account you will be able to make withdrawals but you will have to use the same method of payment that you used to deposit funds into your account. If you used for example:

• CashU
• Western Union

Then UFX will transfer funds directly into your bank account.

For UFX the safety of funds and security are their first priority, and all funds are held in segregated bank accounts in UK.

Bonuses & Promotions

UFX is offering money cashbacks on every  trade up to $5,000.

Broker License and Regulations

In 2011, a brand of Relianto became UFX and they are regulated by CySEC which is an Investment Firm in Cyprus with the license number 127/10. UFX has increased their protection for every trader and trades in accordance with MiFID guidelines.

UFX Review: Summary

UFX.com is a trusted and safe EU-UK regulated broker, in the forex industry since 2007, providing an easy-to-use web trading platform for all kind of traders as well as the advanced MassInsights Technology. They offer a very competive fixex spreads on the main currencies pairs such as EUR-USD or GBP-USD, as well a big variety of accounts to fit your needs.

Another good point is its free education and personal account manager to help you to improve your forex skills.

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