How To Choose Your Forex Broker

Safety and security of client funds and personal information have always been a priority and concern for UFXMarkets. Because of these considerations, UFXMarkets uses a 128-bit SSL encryption system that has become an industry standard for secure data transmissions. In addition, all customer data is stored along with several backups in secure server farms guarded around the clock by armed security staff.

What is UFX Forex Broker

It is free to download, and it is compatible with PCs, laptops, smartphones and tablets. UFX has one of the most user-friendly interfaces in the industry. For instance, traders can trade directly on the notification window without exiting the platform.

Top 5 Forex Brokers

There is a personal trading consultant to assist traders with the trading process starting from the mini account. MassInsight technology provides real-time market trends and news to help the trader make better trading decisions. Platinum account – The initial minimum amount required for this account is $10,000. Apart from the above features and functionalities, the trader has other privileges such as exclusive updates. Apart from operating on the MetaTrader4 platform, the company also offers a proprietary trading platform known as ParagonEx, which has charts powered by NetDania. Our comprehensive review below has everything you need to know about UFX trading.

What is UFX Forex Broker

Traders can choose between credit cards, eWallets and bank wire transfer. Some of the major credit cards accepted include VISA, Diners, Mastercard, American Express and Maestro. In terms of eWallets, traders have the option of Skrill, Sofort, Neteller, WebMoney, etc. The minimum amounts for deposit and withdrawal are $50 and $70 respectively. MT4 is the most prominent trading platform in the world and has been adopted by over 80% of brokers in the industry. The best part is that this platform can be downloaded for free through the UFX website. However, you’ll need at least $100 deposited in your account to start trading using your micro account.

Ufx Markets Referrals And Compensation Policy

However, when compared to other brokers, UFX trading fees are very high. The fixed spread on the EURUSD is 2 pips on the flagship ‘Platinum account’ while for other brokers, the spread is around 0.2 pips and can even start from 0 pips. Multiple payment options are available thereby accommodating many traders from across the world. The availability of several account types is also good so that a trader can choose an account type based on his capital and experience. Immediately, you are logged on to the Web Trader where you can fund your account and commence trading when you are ready to do so. You will need to provide some form of identification for KYC purposes which is a normal part of the process when opening an online brokerage account.

Additionally, UFX also maintains regular trading contests where traders can take part and win attractive prizes. There are also various competitions taking place to reward traders for their patronage. It’s important to check regulatory status before opening an account with an online broker. A reputable and trustworthy broker should be licensed by an official national government regulator and must display its certification clearly on the platform homepage. Trading Brokers have spent thousands of hours researching and conducting in-depth analysis on hundreds of online trading brokers.

UFXMarkets also uses state-of-the art firewall technology which prevents any unauthorized access to client or company information. Our client’s cultural differences are also accounted for by providing interest free Islamic style accounts for investors observing traditional Muslim financial customs. For more forex information on the different varieties of account types we offer, please visit our Accounts page at the website. UFXMarkets is an online Forex trading broker enabling people to trade currencies, shares and commodities. Our main concern with this broker is their inadequate regulation.

What is UFX Forex Broker

Customers have a flexible choice of application, like the in-house designed and developed UFX Web Trader platform and MetaTrader 5. The firm also provides cutting-edge software and attributes like MassInsight technology and Trading Central. CFDs are complex products that acquire a high risk, and many investors lose money when trading CFDs. Traders should take risks only as per their risk appetite and not go beyond it at any point in time. UFXMarkets makes sure that you can find an account that will fit all of your trading needs.

Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. What is NPBFX Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.

One of the most prominent resources is the economic calendar and FXStreet-powered headings. UFX is a global forex broker that is committed to offering an excellent experience to its customers. The company is regulated by the Vanuatu Financial Services Commission. This means UFX adheres to the highest level of professionalism and ethical standards. Unlike other trading brokers, UFX does not charge a deposit or allow deposit from third-parties.

Trading Conditions

Our team of experts concluded that the spreads this broker practices are not competitive. While the spreads narrow with higher deposits, they are still a little steep. After reviewing UFX, our team concluded that the spreads charged by this broker are a little on the high side for certain account types. However, the other fees and costs are in line with what other popular brokers charge.

What is UFX Forex Broker

UFX, formerly known as UFX Markets, was established in 2007 by a group of industry professionals. In 2011, the company was regulated by the Cyprus Securities and Exchange under Reliantco Investment Limited entity. UFX has decided to reward loyal clients with a cashback programme and it is claimed it is currently the only offer of its type given in the world of Forex trading. For every trade you make UFX will award you a certain amount of cashback, depending on the type of asset. UFX allots you a trading target, once you’ve made your first deposit.

Markets And Instruments Of Ufx

There is a market review of selected instruments provided by the broker most days. This review gives technical analysis of various instruments using annotated charts with technical indicators. The analysis comes courtesy of the award-winning analysis software ‘Trading Central’ and can be used to help inspire potential trade ideas. The funds are segregated and should therefore not be used by UFX for its own daily operations.

These are MetaTrader 4 and ParagonEX WebTrader trading platforms. UFX offers a wide range of educational and research resources to help traders have the best trading experience.

This is in compliance to the regulatory provisions so that even if the broker becomes insolvent, client’s deposits should remain in the segregated bank accounts. UFX is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including UFX. In this detailed UFX review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs. To get a fast support you can use UFX Live chat, The UFX Live Support is also available to support clients, To use UFX customer support just visit the broker’s website. UFX Trading hours of operation coincide with the global financial markets. the MetaTrader 4 or MT4 Trading platform and and the ParagonEX WebTrader Trading platform, All of the trading platforms are available to download for mobile trading.

  • UFX offers competitive spreads, good leverage and good live chat support as well as personal account managers to help the clients to the best of their abilities.
  • This, of course, does not promise perfect results and is something to be careful with.
  • In this review, UFX has been evaluated based on industry standards for being a forex trade specialist.
  • UFX Markets accepts 18 different payment methods and charges no commission or fees, except for the spread.
  • As this UFX Markets review demonstrates, the company is very focused on user friendly interface, simplicity, and usability of the platform.
  • The company looks very promising with an innovative approach instructing traders how to act and conduct trades so to avoid any practical mistakes.

Withdrawals can only be processed and transferred via the payment method traders used to make their deposit. However, any transfer fees imposed by banks are the trader’s responsibility. Users should remember that all trading carries risks and users should only invest in regulated firms. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.

What Defines A Reliable Forex Broker?

Their MassInsights technology is capable of analyzing trader feeling data. The technology relies on changes in trading activities, turnarounds, and volatility to come up with detailed sentiment data. For the EUR/USD pair, this broker provides a fixed spread of 4 pips for the mini and micro accounts and three pips for the standard account. The gold and platinum accounts have fixed spreads of 2 pips on the same pair. This platform comes with many trading tools, charting packages, and a whole lot of useful technical indicators. UFX allows traders to trade in stocks, commodities, currency pairs, market indices as well as ETFs. Currently, there are twenty-nine types of shares, over sixty currency pairs, ten ETFs, seven types of commodities, and seven market indices.

Also, you can only withdraw funds using the method you used to deposit. For instance, if you used a credit card to make the deposits, you can only withdraw using the card. On the other hand, if you deposit using a bank wire transfer, the funds will only be sent to the account used to transfer the deposit.