UFX-Forex Broker Review
UFX is a regulated Forex broker from United Kingdom which offers interesting advantages for the trader like several types of accounts, a dealing room and others. In this case the investor can trade with currency pairs in the stock market, commodities like gold and crude oil and CFD on various types of assets and instruments.
Type of Broker
This is a Market Maker broker.
UFX is fully regulated by CySEC (Cyprus Securities and Exchange Commission) of Cyprus, license number 127/10.
Country of origin
This broker was founded in United Kingdom but it has presence in other countries like Belgium and Hong Kong.
This company offers the possibility to trade with the following market assets:
- Forex market: 45 different currency pairs from the most important like EUR/USD to other more exotic like NZD/CHF for example.
- Precious metals: Gold, Silver and Oil in the spot market with a maximum leverage of 1:200.
- Contracts For Difference: CFD contracts based on 45 stocks of different markets, 8 stock indices, 6 commodities (including crude oil) and 2 ETF (SPY and QQQ).
UFX offers 5 types of trading accounts according with the client profile and the capital to invest:
- Micro Account: It can be opened with $500. This account is for beginners who do not want to risk large sums of money. It offer free daily market reports e-mails.
- Mini Account: It can be opened with $500. It is also a trading account for beginners but in this case is designed for those beginners who want to invest more in the market. It offer free daily market reports e-mails and assistance through chat. Spreads from 4 pips.
- Standard Account: It can be opened with $1000. Is the regular account for more experienced traders. This account offer free assistance through chat and daily market reviews through e-mail. Spreads from 3 pips.
- Gold Account: It can be opened with $5000. This account is for professional traders and for that reason it offers some interesting advantages like the access to a complete Dealing Room with a personal dealer and other benefits.
- Platinum Account: This account is designed for big investors and professional traders because it can be opened only with $10000. This trading account offers the same advantages of the gold account plus the possibility to use custom made technical analysis reports.
These trading accounts can be used to trade all the instruments offered by this broker
Yes, with no limit of time.
ParagonEX Trader: The trading platform ParagonEX designed by the company, is a web-based application that requires no download or installation, which allows customers to access your account and trade the market from anywhere with free Internet. For this reason, this trading platform is the ideal solution for operators that their occupations need to have the ability to access your account from different sites. Among its many features, this application includes price charts, technical analysis tools, financial ratios and other financial news. This platform is used by five different types of accounts offered by this broker and allows to operate with currency pairs in the Forex market, commodities like gold and binary options.
Metatrader 4: One of the most comprehensive and used trading platforms in the Forex market sector. It is a downloadable application which has a user friendly interface and various trading tools such as market updated quotes, advanced price charts with multiple time frames (from 1 minute to 1 month), updated market news and dozens of built-in technical indicators. MT4 enables the creation, evaluation and implementation of automated trading systems called Expert Advisors, which are based on all kinds of trading strategies. Currently, this platform allows to track and copy automatically the trades performed by other traders who use this application.
The client can make deposits and withdrawals through bank wire transfer, credit cards (the main credit cards such as VISA and Mastercard), CashU, Skrill, Neteller, Webmoney and Western Union.
Main Advantages of UFX
- UFX is a fully regulated Forex broker (CySEC) from Europe.
- It has a good customer service by phone, e-mail and live chat in their website.
- Low fixed spreads for the Gold and Platinum accounts.
- The trading platform of UFX is a web based application that not require to be downloaded and it can be accessed from any computer with Internet.
- Free analysis reviews of the market with a daily recommendation.
- Free Forex education through UFX website, including articles, trading guide, tutorial, video library and others.
- This broker offers the MetaTrader 4 Platform and supports the use of Expert Advisors (automated trading systems based on MT4).
- Free analysis tools like charts, economic news and a economic calendar.
- No commissions for Forex trading.
- UFX offers a SMS Alert service with market updates directly to the traders mobile.
- Technical Analysis signals for Gold and Platinum accounts owners.
- For the Gold account and the Platinum account owners UFX offer a dealing room with a personal dealer, a dealing room chat, dealing room offers and market update calls by dealers.
- An affiliate program called UFXAffiliates through which the member can earn extra income by promoting the services of UFX as a broker.
This broker offers a 30% welcome bonus for all traders that open a trading account and deposit funds. This promotion only applies for the first deposit.
Other categories of this broker
- Gold broker
- Silver broker
- Oil broker.
- CFD broker.
|Minimum account size||$500 for the Micro account.|
|Minimum lot size||0.01 lot.|
|Spreads||Fixed spreads from 2-4 pips for EUR/USD depending of the account.|
|Demo account||Yes, with no limit of time.|
|Link to the website||UFX Website|
|Open an account|