UFX

  • UFX Homepage Image
  • UFX Trading Image
  • UFX Trading Platforms Image

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

TRADE NOW – Minimum Trade Deposit $500

UFX is a forex and CFD trading broker which was founded in 2007 and has developed a diverse client base around the world since becoming regulated in the EU since 2011. The company has won many industry awards for both its services and its ParagonEx Web Trader 4.0 software and is regulated by several authorities including the FCA and CySEC.

24/5 customer support is available via live chat and telephone. Traders get access to a vast selection of assets, plus a large list of cryptocurrencies that can be speculated on. There are many instrument types supported, including CFDs, commodities, currencies, indices, stocks, and ETFs.

Regulations

The company is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), and as such, it adheres to the strict MiFID standards that apply to financial firms within the EEA.

Reliability

As the company operates within the EEA, it is also registered with several European regulatory bodies, including the Financial Conduct Authority (FCA).

They have won several noteworthy awards including FX Broker of the Year (2013-2016), Best Trading Platform (2016), Best Trader Loyalty Programme (2016), and Best Forex Trading Tools (2016).

All transactions are encrypted via SSL technology from Verisign.

The company holds clients’ money in an account that is segregated from other Clients’ and the company’s money.

As a member of the Investor Compensation Fund, a compensation fund of up to €20,000 per client is available should UFX cease trading.

Trading Platforms

UFX offers a choice of downloadable, browser-based and mobile trading platforms.

ParagonEx Web Trader 4.0
The ParagonEx Web Trader 4.0 trading platform can be accessed via any web browser. A live stream of market events and aggregated trader behaviour is delivered via MassInsights Technology, along with market news and real-time calendar event notifications that are displayed on your trading dashboard.

MetaTrader 4
The MetaTrader 4 platform will download to your desktop in as little as four minutes. It includes a fully customisable interface, automated trading features, and comprehensive technical analysis tools.

Mobile Platform
Both iOS and Android mobile trading apps are available. The apps give you access to advanced asset charts and trading tools, UFX Rewards, fast trading executions, and MassInsights Technology. Plus, they let you track your balance and all open and closed positions.

Account Types

There are several account types to choose from that offer different trading conditions and benefits to suit a variety of trader needs. All accounts give you access to daily market reviews, a video library, daily recommendations, and 24-hour live support. Only Gold and Platinum accounts gain access to the MT4 platform.

Micro/Mini: minimum deposit = $100; minimum trading volume = $250;
Mini: minimum deposit = $500; minimum trading volume = $5,000;
Standard: minimum deposit = $1,000; minimum trading volume = $10,000;
Gold: minimum deposit = $5,000; minimum trading volume = $50,000;
Platinum: minimum deposit = $10,000; minimum trading volume = $10,000;
Islamic: minimum deposit = $10,000; minimum trading volume = $10,000.

Cryptocurrencies Trading

The website allows you to speculate on digital currency price movements without having to purchase the physical coins. A vast range of cryptocurrencies is available, including Aventus, Bitcoin, Bitcoin Cash, Bitcoin Gold, DASH, Eidoo, EOS, Ethereum, Ethereum Classic, ETP, Iota, Litecoin, Monero, NEO, OmiseGO, QASH, QTUM, Ripple, Santiment, Streamr, YOYOW, and Zcash.

Commissions and Spreads

UFX doesn’t charge commission or fees, but it makes money from spreads. Spreads are as low as 2 pips for Gold and Platinum accounts, 3 pips for Standard accounts, and 4 pips for Mini Trading accounts.

Deposits and Withdrawals Options

Making deposits and withdrawals is easy, and you can choose from the following payment options:

• Visa
• MasterCard
• Visa Electron
• Maestro
• Diners Club
• Bank Transfer
• Skrill
• Neteller
• Paysafecard

The minimum amount that you must deposit to begin is $100 (N.B., for a Micro/Mini account). The minimum withdrawal amount is $70 and there is no maximum withdrawal amount. Withdrawal requests take three and fourteen days to process.


TRADE NOW – Minimum Trade Deposit $500

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.


Customer Support

Customer support is via live chat, online contact form, and telephone, 24 hours a day from Monday to Friday.

Support Telephone: +44 208-150-0778
Support Email: Online Contact Form
Social Media Profiles: Facebook, Twitter, Google+, YouTube

Q&A

• Is the site regulated?
Yes by CySEC (the Cyprus Securities and Exchange Commission) and is, therefore, MiFID compliant.
• How does UFX make money?
The company is compensated via spreads.
• How to deposit
You can deposit funds into your account using a debit card, credit card, Neteller, Skrill, Paysafecard, Diners Club or Bank Transfer. In order to enjoy all essential services, the required minimum deposit is U$500 USD.
• How to withdraw
The withdrawal methods are the same as the deposit methods. Withdrawals take between three and fourteen days to process, depending on your chosen payment method.
• How to open an account
The “Sign Up” link at the top of the homepage brings up a short registration form, which you must complete. Next, you will be prompted to choose which type of trading account you wish to open (e.g. Micro/Mini, Standard or Gold), and make an initial deposit.
• Is UFX reliable?
Yes. UFX is a respected trading brokerage and acts solely to facilitate your trades. The company hedges every position, and the firm’s strength lies in its technology.
• Does UFX use MetaTrader?
Yes. MetaTrader 4 is one of the software platforms that traders can choose to use. There is also the ParagonEx Web Trader 4.0 web-based trading platform and the Trading mobile app for iOS and Android devices.
• What is UFX’s leverage?
The maximum leverage available is 1:400.

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Our Conclusion

UFX has account types for everyone and offers 100% secure trading, 24/5 live help, and the award-winning ParagonEx trading platform. If you’re looking for an online Forex and CFD broker with highly competitive trading conditions and fixed spreads, plus the option to speculate on a wealth of cryptocurrencies, this is the site for you.