UFX REVIEW 2024: SHOULD YOU SIGN UP WITH THE BROKER?

UFX REVIEW 2024: SHOULD YOU SIGN UP WITH THE BROKER? title=

This Trading Platform is available in Ukraine

1.2/5

UFX, as reflected in user reviews across platforms like Trustpilot and Sitejabber, garners mixed reactions. Some traders appreciate the platform for its user-friendly interface and range of trading instruments. They highlight the ease of account setup and responsive customer service that enhances their trading experience. However, a notable number of users express dissatisfaction with withdrawal processes and fee transparency. Concerns about customer support responsiveness when issues arise are also mentioned. While there is recognition of UFX's potential as a trading platform, these mixed reviews suggest that prospective clients should approach with caution and fully understand the terms before committing.

Min. deposit
$100
Website address
Demo account
Yes
Currency
EURGBPUSD
Supported languages
AraEngFraItaRusSpa
Active
Yes
Payment Methods
Bank WireChina Union PayCredit/Debit cardsGiropayNeosurfNetellerQIWISkrillSofortWebMoney
Pros
  • User-friendly platform
  • Islamic account option
  • Negative balance protection
Cons
  • Not regulated by a major financial authority
  • No MetaTrader platform
  • Limited educational resources
Awards
N/A
Bonus
N/A
Instruments
CommoditiesCryptoETFsForexIndicesStocks
Min. trade price
Depends on asset
Regulated By
Vanuatu Financial Services Commission (VFSC)
MetaTrader 4
No
MetaTrader 5
No
cTrader
No
OmniTrader
No
AlgoTrader
No
TradingView
No
Trading Central
No
Autochartist
No
eSignal
No
STP Account
No
ECN Account
No
DMA Account
No
MAM Account
No
PAMM Account
No
LAMM Account
No
Demat Account
No
Mobile Apps
Yes
Margin Trading
Yes
Volatility Index
No
Spot Trading
Yes
Perpetual Swaps
No
ELWs
No
REITs
No
AI / Machine Learning
No
Robo Advisor
No
P2P Trading
No
Negative Balance Protection
Yes
VPS Hosting
No
Tournaments
No
Demo Competitions
No
Managed Accounts
No
Market Maker
Yes
Auto Trading
No
Social Trading
No
Copy Trading
No
Trade Signals
No
Islamic Account
No
Inactivity Fee
Yes
Guaranteed Stop Loss
No
Stock Exchanges
N/A
Commodities
Gold, Silver, Oil, Natural Gas
Forex Trading
Yes
Forex GBPUSD Spread
Variable
Forex EURUSD Spread
Variable
Forex EURGBP Spread
Variable
Forex Assets
50+
Crypto Spread
Variable
Crypto Lending
No
Crypto Staking
No
Crypto Mining
No
Crypto Auto Market Maker
No
Crypto Coins
BTC, ETH, XRP, LTC, DASH
Binary Options
No
Payout Percent
N/A
Expiry Times
N/A
Ladder Options
No
Boundary Options
No
Show all >>

* The amount that will be credited to the account in the case of a successful deal

* General Risk Warning: Your capital might be at risk

Trustpilot Real Time Reviews

Star

The Trustpilot rating is 1.2,
according to 185 reviews

4.5 Stars
jeremy garcia
jeremy garcia
stars
es
I start trading at this platform 3 years ago and so far I had a very Good experience. I really like the look of the page since it is very intuitive and easy to handle, and they have very valuable information such as live market trends and signals! Good advice aswell by his financial trainers !

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Arben Lleshi
Arben Lleshi
stars
gb
To everyone, this type of business is for the risk takers and also for individuals that can afford to lose some to gain more. I’ve been trading with them for a year now and yes they do call you very often, they also send email updates to give you an opportunity in the market as it happens. They have told me from the start that it is very high risk of loosing all the assets, but if you want to play this game you have to check everything from Twitter to Facebook to news feed in the market as everything effects your investment. I do believe that there’s opportunity to make money if you pay attention, however I don’t agree with anyone that blames directly this company. This is my opinion based on my experience with them. I wish everyone the very best of luck and remember no one should make you do anything it is you that should automatically be responsible for yourself and your assets , no one else.

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Magnus Bordewick
Magnus Bordewick
stars
no
I see people complaining about number of calls, completely understandable but that’s exactly the reason why I’m gonna use them forever!! They are doing the hardest job for you, educating you and giving you information... I don’t have much time to follow the market, I receive a call from my trainer almost everyday for around 10-20 mins briefing me what’s the best to do right now. Little effort from my side and huge effort from side of UFX... I use them for 8 months right now and honestly haven’t got any problems.

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Alicia Johnson
Alicia Johnson
stars
gb
After being uncertain for about half a year I decided to invest my money and chose UFX platform. My investment has grown, not in millions, I'm not a billionaire now and do not own a yacht, but so far it's been working for me... I'm still new to this world so I'm no professional but I don't see any problem with this platform so far + I really like their website design!

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Andrew Nowak
Andrew Nowak
stars
pl
- good support - assistance of professionals - great technologies on the platform - many cryptocurrencies - no fees - quick withdrawals I recommend to everyone. I started because of my friends were using them already for a few months. Good way to get some extra money every month...

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zoeball78
zoeball78
stars
gb
I am so used to trading Binary options and after all the palaver i changed over to Forex trading using UFX and with their great training i am now trading for my self which is much better then the signal providers. I love there MT5 it is great to use and have had no problems in withdrawing my money so i am happy as Larry at the Moment... Glad i made the change

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Content

HOW DOES UFX STAND OUT?

Highly Regulated: UFX is a highly regulated broker. It is regulated by the well-known CySEC and VFSC regulatory authorities.

Extensive Trading assets:  UFX provides traders with an extensive list of tradable assets such as Exchange-traded Funds (ETFs), Contracts for Difference (CFDs), currency pairs, and many more.

Variety of payment modes: For easy use, UFX provides many different payment methods for deposits and withdrawals.

ufx-review-2023

Compensation: Traders can get the Investor Compensation Fund with maximum coverage of up to €20,000.

Access to multilevel technology: UFX provides its traders access to the MassInsights technology and a trading central research tool for maximum profit.

Online trading platforms: UFX is a trader-friendly trading brokerage. It gives the trader access to MetaTrader 4, MetaTrader 5, and ParagonEx WebTrader 4.0.

Further reading

WHAT IS UFX?

I have discussed some factors above which make UFX a reliable trading broker. But what exactly is UFX?

Want to find out? Here’s a brief description of UFX.

UFX is a financial service provider established in 2007 which operates as a trading brokerage platform. It is a Cyprus-based forex brokerage company and has been operational in the United Kingdom since December 2010.

ufx-homepage

UFX homepage

It provides traders with the best trading platforms, which help them meet their trading goals and gain maximum profit in a short time. UFX provides traders with the opportunity to trade multiple assets at a time.

Being around for all these years, UFX has made its prominent spot among the top brokers available for options trading. UFX is famous for providing low-cost trading and offering traders fast order execution services.

Further reading

WHAT ARE UFX’s REGULATIONS?

The most important factor while choosing a broker is to see how it is regulated. UFX is a regulated brokerage. Want to know about its regulations? Here it is!

Brokerage firms must meet several rules and criteria set by the relevant jurisdictions’ regulatory authorities to remain licensed and operate in those jurisdictions.

These regulatory authorities give the traders an inside resource for those who have issues with the UFX.

UFX is supervised and regulated by reputable organizations. It is authorized by the Cyprus Securities Exchange Commission regulations (CySEC).

Since 2010, it has been regulated under the Markets in Financial Instruments Directive (MiFID) or the Financial Instruments Directive. UFX is also a complaint with the 4th Anti-Money Laundering Directive of the European Union.

As per European Directive, UFX traders are protected by the Investor Compensation Fund (ICF). CIF provides traders with a maximum coverage of around €20,000 in investor funds.

Further reading

HOW DOES UFX WORK?

You are now aware of the regulatory authorities which regulate UFX. But how does UFX work? Curious? Let’s find out!

how-does-ufx-work

UFX provides traders with several different tradable assets in different categories.

Here is the list

Forex

  • EUR/USD
  • GBP/USD
  • USD/CHF
  • USD/CAD
  • USD/JPY
  • AUD/USD
  • GBP/AUD
  • GBP/NZD
  • NZD/CHF
  • EUR/NZD

 Commodities

  • Gold
  • Silver SP
  • Oil
  • Natural Gas

 Stocks

  • Facebook
  • Google
  • Boeing
  • Amazon
  • Microsoft
  • JPMorgan
  • Nike
  • IBM
  • ExxonMobil
  • Coca-Cola

 Indexes

  • Dow Jones
  • S&P 500
  • DAX 30
  • Nikkei 225
  • NASDAQ-100
  • WIG20
  • CAC40

ETFs

  • FEZ
  • GDX
  • QQQ
  • USO
  • UNG
  • SPY
  • XLF
  • XLK
  • Lightning Emotors Inc XEV
  • Global X Lithium & Battery Tech ETF LIT
  • Xylose Lysine Deoxycholate (XLD)

ufx-homepage

UFX assets page

Further reading

HOW DOES THE UFX PLATFORM WORK?

Before choosing any broker, you must know how that platform works. Most of the time, traders tend to foresee the basic working principle. Want to know how UFX works? Let’s find out!

UFX provides its traders with several different trading platforms and tools. There are six different platform options for traders on UFX.

Here’s the list

  • MetaTrader 4
  • WebTrader
  • MultiTerminal

Following is a detailed explanation of the most used trading platforms UFX provides

METATRADER 4

MetaTrader 4, also known as the MT4 trading platform, is one of the most popular platforms available to traders on UFX. UFX provides its traders to trade using MT4, trade forex, and other financial assets such as CFDs and Spread Betting.

MetaTrader 4 works on several trading platforms, such as WebTrader, Android devices, and iOS devices. The MT4-enabled UFX application can easily be downloaded for Windows PCs and Apple Macintosh computers.

UFX MetaTrader 4 is compatible with the latest macOS Mojave.

ufx-platforms-page

UFX platforms page

WEBTRADER

MetaTrader 4 is available as a web-based application through your web trader. It allows traders with the web browser-based application for trading.

It has the same user-friendly performance structure as the desktop version using advanced charting and a customizable trading environment. UFX provides the trader easy access to online trading tools and many indicators on the WebTrader version. A trader can enjoy a trading environment without a dealing desk from anywhere in the world.

ufx-webtrader

Webtrader

MULTITERMINAL

UFX provides traders with an easy-to-use dashboard service where they can easily monitor and control their several trading accounts. UFX’s MultiTerminal will let the trader monitor the trade of up to 100 accounts at once.

It allows traders to place orders, view live market prices and pending orders, and track all accounts and equity in real-time. The drawback is that it does not support Automated Trading Scripts like expert advisors.

UFX provides traders with three different trading tools. These trading tools are specialized to provide the trader with convenient and trader-friendly platforms.

UFX provides multiple trading tools. Following are the trading tools provided by UFX

  • Trading Central
  • AutoChartist
  • MassInsights

Trading Central

Trading central is a bundle of Alpha Generation Trading indicators consisting of three major indicators. Analyst Perspectives: It is a resource for the skills regarding leadership and key levels.

Adaptive Candlesticks: It is these chart-based patterns that identify the important changes in asset demand and supply. Adaptive Divergence Convergence (ADC): This tool is useful at shorter lengths and provides more timely signs.

trading-central

Trading central

AutoChartist

The other top-tier indicator that UFX provides is the UFX’s AutoChartist provides traders with the world’s first Market Scanner for MT4 users using a non-Expert Advisor script.

It scans the market for all the available trading opportunities while viewing all the time intervals and symbols. It has a simple user interface that can be customized.

MassInsights

UFX allows traders to use high-end trading technology such as MassInsights.

Visit their official website for further information about MassInsights.

massinsights

MassInsights

WHAT ARE TRADING INDICATORS AVAILABLE?

As an active trader, technical trading is super important. For a high win ratio, traders do need technical indicators.

UFX offers plenty of trading indicators across all platforms.  Some of the available indicators are

  1. MACD
  2.  Moving Averages
  3. RSI
  4. Bollinger Bands
  5. Stochastic and more

Further reading

WHAT ARE UFX TRADING ACCOUNTS?

You are now aware of the UFX trading tools and platforms. So, what accounts are available for the traders on UFX? Is there a demo account too?

Here are the accounts available for the traders. There are six accounts available for the traders to open from.

These are:

  • Micro/Mini Trading Account
  • Mini Trading Account
  • Standard Trading Account
  • Gold Trading Account
  • Platinum Trading Account
  • Islamic Trading Account

MICRO/MINI TRADING ACCOUNT

Micro/Mini Trading account is available for beginner traders. To open this account, a trader needs to deposit a minimum of $100. Micro/Mini Trader account provides basic brokerage features, which include 24-hour live customer support and access to the video library.

MINI TRADING ACCOUNT

A mini trading account is a mid-level trading account for naïve traders. To open this account a trader, needs to deposit a minimum of $500. The account provides basic brokerage features, just in addition, it provides personal coach privileges to the traders.

STANDARD TRADING ACCOUNT

Standard Trading account is designed for professional traders. To open this account, traders must deposit a minimum of $1000.

This account allows the trader to trade on high trading volumes. Unlike the above trading platforms, it provides traders instant market updates and VIP user support.

GOLD TRADING ACCOUNT

The gold trading account helps traders run advanced trading strategies. UFX Gold trading account holders access the WebTrader 4.0, MetaTrader 4, and MetaTrader 5 platforms.

To open this account, traders must deposit a minimum of $5000. It offers traders privileges to preceding accounts and SMS alerts.

PLATINUM TRADING ACCOUNT

It is a top-end trading platform UFX offers traders. It provides all the features which are offered by the gold trading account. To open this account a trader, needs to deposit a minimum of $10,000.

ISLAMIC TRADING ACCOUNT

The account offers selective trading services to traders. It is developed for Islamic traders and follows basic Islamic finance. It provides trading services for Islamic markets only. To open this account, traders must deposit a minimum of $100

ufx-account-type

UFX account type

DOES UFX OFFER A DEMO ACCOUNT?

Yes, UFX provides the traders with the demo account. It helps the trader to test the basic trading features.

Further reading

HOW SAFE IS UFX?

Safety is the priority of every trader when choosing the right broker. UFX focuses on complete trade security. Want to know how safe is UFX? Here’s a quick description of the safety measures of UFX.

UFX offers a safe trading environment and follows multiple safety options, including

  • Two layers of the firewall to prevent unauthorized access attempts
  • Advanced Verisign SSL to authenticate users
  • Separate servers for trading activity and transaction information
  • Two separate server farms in different locations
  • Armed guards protecting servers 24 hours a day
  • Trading platform software that is tested and updated regularly to prevent bugs

Further reading

WHERE IS UFX LOCATED?

It is important to know the location of the broker. The location says it all. So, where is UFX located? Want to know? Let’s see!

UFX is a Cyprus-based trading brokerage company. UFX’s headquarter is located in Limassol, Limassol, Cyprus. It also has a branch in Edinburgh.

Further reading

WHO OWNS UFX?

So we discussed earlier the location of UFX. Now, who actually owns UFX? Curious? Let’s find out!

UFX is a fully licensed and regulated brokerage company. Reliantco Investments Limited operates it.

Further reading

HOW TO DEPOSIT FUNDS IN THE UFX ACCOUNT?

UFX provides traders with different deposit options. These deposit options are easy and reliable.

Want to deposit your money in UFX? Here’s a quick guide!

how-to-deposit-funds-in-the-ufx-account

UFX provides traders with several different deposit methods for their ease. The minimum deposit amount on UFX is $100.

The trader can deposit the assets using the following methods:

  • Credit cards
  • Bank transfer
  • American Express
  • Neteller
  • Bitcoin
  • POLi
  • CashU
  • SOFORT
  • WebMoney
  • UnionPay
  • QIWI
  • Giropay
  • Payoneer.

These payment methods depend on the UFX entity and the country’s restrictions.

Further reading

HOW TO WITHDRAW FUNDS FROM THE UFX ACCOUNT?

UFX withdrawal methods are simple and convenient. The withdrawal methods are as same as the deposit methods. Want to know more? Let’s find out!

As mentioned, the withdrawal methods are the same as the deposit ones. However, if the withdrawal amount exceeds the deposit amount, it can only be withdrawn using a Bank transfer.

Withdrawal currency is only in USD. It may take 3 to 10 working days for withdrawals to be carried by Bank transfer. The money will be sent in 5 business days after confirmation. The company does not charge any withdrawal fee.

Further reading

HOW TO CONTACT UFX?

For traders’ convenience, UFX provides regular contact services.There are many ways to contact UFX. So how can we contact UFX? Let’s see!

You can call their customer care center. UFX also provides the trader with a live chat option on their website. Visit their website for more contact information.

ufx-contact-page

UFX contact page

Further reading

DOES UFX OFFER PROMO CODES?

Promotional codes are a marketing strategy used by the broker. The strategy works almost every time. Want to know about the promo codes?

Here’s a quick look at these promotional codes. On UFX’s official website, there is no mention of promo codes.

Further reading

DOES UFX OFFER BONUSES?

To get maximum user interaction, brokers often use bonus schemes. UFX also offers traders different bonus offers. Want to know about these bonuses?

Let’s take a look at them. UFX only offers traders one bonus, A Deposit Bonus of $50, to start trading.

Further reading

DOES UFX CHARGE TAX ON PROFITS?

A lot of brokers do not charge taxes on profits. Want to know about the taxes? Here’s a quick guide!

On the official UFX website, there is no mention of tax deductions. But if your region has tax policies, you are bound to pay taxes on the profit.

Further reading

HOW DO I MAKE MONEY WITH UFX?

Whether the trader is a beginner or an expert, they should always consider using the services of a trusted forex broker. In terms of service, UFX is a good forex broker.

I joined UFX in the mid of 2016. The main reason I opened my account on UFX was the availability of numerous trade options. You can make money by selling and buying different assets simultaneously. The terms and trading conditions are also trader friendly.

A deposit amount of $100 is required to activate the micro account. I think UFX is an easy-to-use broker for new users due to the overall trading conditions. Let’s see what others are saying!

how-do-i-make-money-with-ufx

how-do-i-make-money-with-ufx-1

how-do-i-make-money-with-ufx-2

Further reading

FAQs

Is it safe to trade UFX?

CySEC regulates UFX, and the broker follows strict safety rules. It uses two layers of firewalls to protect its clients’ information.

What are the UFX trading fees?

UFX is a market maker that charges high spread fees. The EUR/USD, the most liquid currency pair, has a spread of 2 to 4 pips.

How can I close my UFX account?

To close the UFX account, contact the support team first.

FINAL THOUGHTS

There you have it!  We found everything we could about the broker. UFX is a regulated broker and provides multiple trading platforms and accounts. However, it can improve contact support and assets.

So, I would give it 3.7/5 stars. I hope this review was informative and helped you make your decision. If you are looking for forex brokers other than UFX, you can check the complete list of brokers here. 

It is one of the best international brokers. Different types of assets, convenient and reliable platform, favorable trading conditions. Want to know more? Click here.

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