UFX Review 2021

UFX logo
UFX Facts & Figures

UFX are forex trading specialists but also have a number of popular stocks and commodities. Offering tight spreads and one of the best ranges of major and minor pairs on offer, they are a great option for forex traders.

InstrumentsForex, Stocks
Demo AccountYes
Min. Deposit$100
PaymentsSofort, QIWI, POLi, Paysafecard, Cashu, Bitcoin Payments
Min. Trade$1
Regulated ByCySec
MetaTrader 4Yes
MetaTrader 5No
cTraderNo
DMA AccountNo
ECN AccountNo
Social TradingNo
Copy TradingNo
Auto TradingNo
Signals ServiceNo
Mobile AppsiOS, Android
Islamic AccountNo
Forex

GBPUSD Spread5 pips
EURUSD Spread3 pips
GBPEUR Spread4 pips
Assets65+
Stocks

UFX offer 150+ assets from around the world. Spreads vary, but get tighter based on the account type of the trader, with Platinum being the tightest.

Risk Warning – Your Capital is at risk

UFX Global is a leading forex and Contract for Differences (CFDs) trading platform that is owned by Reliantco Investments Limited. The company was established in 2007 and is based in the Republic of Vanuatu. The company’s head office is situated at Govant Building, Kumul Highway, P.O. Box 1276 Port Vila, Vanuatu. The broker operates on a Straight-through-Processing (STP) business model and as such does not take opposing market positions to that of their clients’ trades. With their state of the art trading platforms, UFX aim to meet all their clients trading needs, while at the same time offering stable and competitive spreads.

Regulation & Reputation

In terms of regulatory oversight, UFX comes under the jurisdiction of the Vanuatu Financial Services Commission. The broker is regulated under the license number 14581. As for the reputation that UFX has earned over the years, the broker has been recognized by leading industry reviewers for its outstanding services and product offerings. Since 2012, UFX has been winning recognition for its services to the industry.

UFX Tindall Iniesta

Trading Platform

As for the trading platfroms provided by UFX, the broker offer traders two main types of trading platforms, ParagonEx Web Trader 4.0 and the MetaTrader 4 (MT4) platform.

MetaTrader 4 Platform

The MetaTrader 4 or MT4 platform is the most popular forex and CFD trading platform in the industry. It has been adopted by around 80% of the brokers in the market. The platform is also well liked by traders in the online trading community as it offers them a wide range of advanced trading tools. For example, the MT4 comes with an advanced charting package, as well as a large library of technical indicators. It supports multiple order types and automated trading through the use of expert advisors. The platform is also able to support multiple langauges, so traders can customize the user interface to their native language.

ParagonEx WebTrader 4.0

The alternative trading platform which UFX has made available to its clients is the ParagonEx WebTrader 4.0. This trading platform is a versatile platform that is web-based and requires no software download or installation. It has intergrated charts and supports real time news feeds. The version 4.0 adopted by UFX is the latest version of the ParagonEx WebTrader and uses the innovative MassInsights™ Technology to provide trades with information about the prevailing trends in the markets. This technology is so advanced that it has received numerous awards from leading industry reviewers.
For those who prefer to trade on the move there is a mobile trading option.

Mobile Trading

Traders who are highly mobile now no longer need to worry about missing out on trading opportunities. With the UFX mobile trading app, traders can now trade the markets directly from their smartphones or mobile devices. It also comes with MassInsights™ Technology and numerous advanced trading tools. The mobile trading app is available free of charge and can be downloaded directly from the Apple App Store or Google Playstore.

UFX mobile trading app

Trading Accounts

As for the trading accounts that are available at UFX, you have a choice of 6 different types of trading accounts.

Micro Trading Account

Minimum deposit of $100
24 hour live support
Video library access
Daily recommendations
Daily reviews

Mini Trading Account

Minimum deposit of $500
24 hour live support
Video library access
Daily recommendations
Daily reviews
Personal Coach

Standard Trading Account

Minimum deposit of $1000
24 hour live support
Daily recommendations
Daily reviews
Exclusive updates
Personal Coach
Video library access
VIP support

Gold Trading Account

Minimum deposit of $5000
24 hour live support
Daily recommendations
Daily reviews
Exclusive updates
MT4 platform Access
Personal Coach
SMS Alerts
Video library access
VIP support

Platinum Trading Account

Minimum deposit of $10,000
All features of the Gold account

Islamic Trading Account

Minimum deposit of $100
24 hour live support
Video library access
Daily recommendations
Daily reviews
Personal Coach

Bonuses & Promos

While UFX does not offer any kind of trading bonuses to its clients, it does have a loyalty program called the “Cashback” program. The more you trade, the more you will earn in terms of rewards. In addition, UFX also hold regular trading competitions where traders can participate in and win attractive prizes. Some of the prizes offered included a Lotus Elise sport car.

Assets & Instruments

With UFX, traders can trade in Currency pairs, commodities, ETFs, market indices and stocks. There are 60+ currency pairs, 7 types of market indices, 10 ETF funds, 29 types of stocks and 7 types of commodities.

Customer Support

Customer support at UFX is available 24/5 through live chat, web contact form and the telephone. In terms of localized telephone support, UFX has a support representative in 23 different countries. With such wide support coverage around the globe, it is easy to understand how UFX has won so many awards such as “FX Broker of the Year” and “Best Value Forex Broker”.

Deposit & Withdrawal

To facilitate the funding and withdrawal of funds, UFX has provided support for several methods of payment methods. They include transfer by credit cards, eWallets and bank wire transfer. Major credit cards such as VISA, Mastercard, Diners, Maestro and American Express are accepted by UFX. For eWallets, traders can use popular wallets such as Neteller, Skrill, Sofort and Poli. Take note that UFX have a minimum amount requirement for both deposits and withdrawals. For deposits, the minimum amount is $50 and $70 for withdrawals.

Is UFX suitable for day trading?
If you are looking to day trade and are looking for a suitable broker, the first thing that you should consider is whether the platform and instruments offered are suitable for day trading. In the case of UFX, it is a suitable broker for day trading as CFD contracts can be opened or closed at any time.

UFX Awards

Some of the latest awards won by UFX include the following:

2017

  • Best Forex Trading Tools – MassInsights™ Technology (UK Forex Awards)
  • FX Broker of the Year (The European)

2016

  • Best Forex Trading Tools – MassInsights™ Technology (UK Forex Awards)
  • FX Broker of the Year (The European)
  • Best Trader Loyalty Programme – UFX Rewards (FX Report Awards)
  • Best Trading Platform – MassInsights™ Technology (FX Report Awards)

FAQs

What is the minimum deposit requirement to open a trading account?

The minimum deposit requirement at UFX is $100 for the Micro trading account.

How fast can my withdrawal request be processed?

The processing time for withdrawals depends on the methods used. However, the typical time required to process a withdrawal request is 3 business days.

Is UFX a reliable broker?

Yes, UFX is a reliable broker as it has been operating since 2007. In addition, it is regulated by the Vanuatu Financial Services Commission.

What kind of trading platform does UFX have?

There are 2 types of trading platforms available at UFX, the MetaTrader 4 and the ParagonEx Webtrader.

Does UFX charge a withdrawal fee?

No, UFX does not impose any fee for withdrawals. However, traders can still be liable for any fees imposed by the banks.

UFX vs Other Brokers

If you want to compare UFX with other brokers, use the detailed comparisons below.

UFX vs
UFX are forex trading specialists but also have a number of popular stocks and commodities. Offering tight spreads and one of the best ranges of major and minor pairs on offer, they are a great option for forex traders.