UFX Review

MIN. DEPOSIT $500
Up to 400:1
Up to $105 BONUS
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UFX
Up to $105
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Overview

Company Information UFX is one of the globally recognized brokers from the industry that provides its financial trading services throughout Europe. The company was founded in 2007, but later on,… more

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Details

Broker UFX
Website URL https://www.ufx.com/en-GB/
Founded 2007
Headquarters Limassol, Cyprus
Support Number +44.208.150.0778
Support Email support@ufx.com
Support Types Phone, Live Chat, Contact Form
Languages English, Japanese, Polish, Romanian, French, Finnish, Malay, Turkish, Italian, Swedish, Danish, Russian, Indonesian, Spanish, Dutch, Chinese, Portuguese, Norwegian, Arabic, Czech, Bengali, German, Hungarian
Minimum 1st Deposit $500
Minimum Trade Amount $5,000
Bonus Up to $105
Payout Up to 400:1
Free Demo Account Yes
Regulated Yes
Regulation Cyprus Securities Exchange Commission (CySEC); MiFID; Financial Conduct Authority (FCA)
Account Types Mini, Standard, Gold, Platinum, Islamic
Deposit Methods Visa, Maestro, MasterCard, American Express, Diners Club, Skrill, Neteller, Poli, Sofort
Withdrawal Methods Visa, Maestro, MasterCard, American Express, Diners Club, Skrill, Neteller, Poli, Sofort
Types of Assets Forex, Stocks, Commodities, Indices
Account Currency USD
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

UFX is one of the globally recognized brokers from the industry that provides its financial trading services throughout Europe. The company was founded in 2007, but later on, in 2011 it became fully regulated by the International Union. UFX abides by the rules of MiFID, and it’s now authorized to operate freely by the CySEC or the Cyprus Securities and Exchange Commission. The license number of the firm is 127/10. The online broker uses the Straight-Through-Processing business model (aka STP) and offers attractive trading conditions for international traders. There are numerous awards received by the company since its official appearance in 2011. The most recognizable awards from 2012, 2013, 2014 and 2015 are “Best Forex Promotion”, “Best Forex Affiliate Scheme”, and “Best Forex Customer Service” by UK Forex Awards, as well as “FX Broker of the Year”, “Financial FX Director of the Year”, and “Best Platform” by The International Banking and Finance Awards. One of the huge advantages of being UFX’s client is the personal coaching assistance that the broker is offering. The dedicated trading consultants and professionals will share their secrets with every registered customer, who requires some extra help.

 

Trading Information

UFX has a great selection of financial instruments, such as 50 Forex pairs, stocks, ETFs, commodities, indices and even futures. Spreads are relatively standard for this type of online broker. Spreads on currencies start as little as two pips on EUR/USD, the lower boundary on indices is set to 50 pips and the other instruments have lowest values of 5 to 10 pips. However, spreads are fixed, and the right trading environment is closely related to the type of account. UFX provides leverage of 1:400. There are Micro, Mini, Standard, Gold, and Platinum accounts. Almost all of them share similar features, but the Gold and Platinum account types enjoy some extra benefits, such as trading alerts, enhanced platform trading and more. Demo profiles are also available for traders who want to do some tests first. Islamic account is also part of the offering. Traders should be aware that the online broker may charge a maintenance fee of $50 once every six months if needed.

 

Trading Platforms

The online brokerage company employs a few platforms with various capabilities and purpose. Of course, the leading trading software of all is MetaTrader 4, which is the well-known tool for traders around the globe. The desktop application is easy to download and install. It’s equipped with numerous extra features and helpful stuff. MT4 is considered the best trading platform worldwide by the majority of traders. UFX provides a browser-based solution for its clients called ParagonEx Web Trader 4.0. According to the broker, it’s the most advanced web application in the industry.

 

We should not miss one of the latest implementations in UFX’s arsenal and namely Mass Insights Stream. It’s a modern technology combines the latest market events in real-time with aggregated trader behavior in one single feed. The unique approach allows the software to detect substantial trading activity on the spot and display a signal. This trading platform also have some extra features to make it a complete and reliable solution for every trader.

 

Security and Customer Services

As a reputable international online broker, UFX maintains a high level of safety throughout its website and servers. Users can safely browse and use the web-based platform with 256-bit SSL encryption provided by the security giant Verizon Enterprise Solutions. With the client’s data well kept and protected, UFX also focuses on the extra peace of mind for its users when it comes to funds. All accounts are held in top tier banks from the industry, and money is segregated for additional protection.

 

The customer service is also an essential part of being a high-class broker. UFX has nothing less to show here as its representatives are well trained and extremely responsive to various issues. The support team is up 24/5 on a phone with more than 20 local landlines, email, web form or live chat. Alternatively, traders can also communicate through the social media channels, such as YouTube, Facebook, Twitter, and G+. All the services of UFX are available with more than 25 languages.

 

Deposits and Withdraws

The transaction methods provided by UFX are quite diverse. Traders from different parts of the world may enjoy their favorite option as the online broker offers more than 20 choices. There are credit/debit cards, e-wallets, prepaid cards, cryptocurrency (Bitcoins) and bank wire transfers available. The following options are presented for both deposits and withdraw. The initial funding has some limits applied. The minimum deposit amounts $500 on Mini account type, $1000 on Standard, $5000 on Gold, $10 000 on Platinum and $1000 for Islamic. Withdraws also employ a minimum. Traders cannot cash out less than $70 at a time. The whole withdrawal process is subject to some extra checks and verifications from the broker before releasing any money.

 

Deposit Bonus and Loyalty Programs

UFX is an online broker that hides various surprises mostly for its loyal customers. The company offers exclusive redeposit bonuses for traders who are looking to expand their trading opportunities. The redeposit promotion is available once the client contacts its Personal Trading Consultant. Also, traders can participate in occasional competitions organized by the online broker. Customers should stay tuned to the latest exciting events hosted by UFX. A perfectly designed loyalty program is also available for both new and existing traders. UFX offers lucrative cash back rewards in the course of the trading process for each of its clients. The rewards are in the form of goal, which the trader should reach to unlock the prize. The particular level of gamification and great rewards make the loyalty program interesting and attractive.

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