UFX broker review and test – Is it a scam or not?

Review:	Regulation:	Platforms:	Minimum deposit:	Spreads:
(4.2 / 5)	CySEC (Cyprus)	MetaTrader 5, Trading Central, App, MassInsights Technology	$ 100	From 2 pips

Trading is and has remained a difficult job for the newcomers, due to a lack of direction and knowledge. However, this review will help people to decide which platform is better for investment and trading purposes keeping in view the safety with the help of its comprehensive analysis. UFX is one of the online brokers that help its clients to achieve profits.

In this article, we want to share our experiences with UFX. The broker claims to be one of the best in the industry. Learn about the trading conditions, offers, trading platforms, and fees of UFX. Should you really invest money in this company? – Find out in our review below.

What is UFX? – The broker presented

UFX is a Cyprus trading broker that is working for quite a long time to offer multiple ranges of trading opportunities for traders and investors. You can find the company at the address 139 Makarios Avenue, Zavos Business Center, 3rd Floor, 3021 Limassol, Cyprus. The platform is safe and regulated that offers investment opportunities in the world’s big companies.

UFX has the prestige to win multiple trading awards in return for its services rendered to the people. Multiple types of accounts are offered in this platform that helps users to invest and earn accordingly. It has unrivaled customer support to assist users all over the world. The interface of the platform is cool and easy to use. UFX has the best deposits and withdrawals method and has a great customer support team. The platform offers a diverse range of bonuses, promotions, cashback, and loyalty awards to its users also.

Facts of the broker UFX:

• Based in Cyprus and regulated there
• Awarded trading platform
• Competitive conditions
• Accepts international clients
• More than 5 years in the trading business
• STP (Straight-Through-Processing) Broker

The best alternatives for traders – get professional trading conditions with a regulated broker:

Broker:	Review:	Advantages:	Free account:
1. Capital.com	(5 / 5) ➔ Read the review	# Spreads from 0.0 pips # No commissions # Best platform for beginners # No hidden fees # More than 6,000 markets	Live account from $ 20: Open your free account (Risk warning: 79.17% of retail CFD accounts lose money)
2. RoboForex	(5 / 5) ➔ Read the review	# High leverage up to 1:2000 # Free bonus # ECN accounts # MT4/MT5 # Crypto deposit/withdrawal	Live account from $ 10 Open your free account (Risk warning: Your capital can be at risk)
3. Vantage Markets	(5 / 5) ➔ Read the review	# High leverage up to 1:500 # High liquidity # No requotes # MT4/MT5 # Spreads from 0.0 pips	Live account from $ 200 Open your free account (Risk warning: Your capital can be at risk)

Is UFX regulated?

Safety and regulations are the key factors that decide the promising future of the trading broker. UFX has given paramount importance to safety and regulations for the good of its users. The platform is regulated under the Cyprus Securities and Exchange Commission with a license number of 127/10.

For the safety of the user funds and the private data of the users, UFX has taken concrete steps by keeping the funds in separate accounts and a secure database. The company works together with tier 1 institutes which are highly secure.

Trading conditions for new traders

UFX has a great legacy among users. All the trading brokers that offer trading implement certain criteria of trading that users have to follow in return for the services they get from the platforms. Trading conditions come with security, deposits, withdrawals, and spreads. You can start with a free demo account or even with a small minimum deposit of only $ 100. For higher deposits, different account types are offered. We will go into detail later.

Under the CySEC license, the maximum leverage is 1:30 for retail investors and 1:500 for professional investors. The trading conditions (spreads) are depending on your account type. If you deposit more money you will get lower spreads.

The following markets are available with UFX: 

• Forex (currencies)
• Commodities
• Indices
• Stocks
• ETFs

See sample spreads below: 

Asset:	Spread from:
EUR/USD	2
GBP/USD	3
USD/JPY	3
Oil	5
Gold	150
DAX 30	300
Dow Jones	450
S&P 500	50

Order is executed by the STP-system (Straight Through Processing). That means the broker gives the orders directly to liquidity providers without any dealing desk. For trading, the famous platform MetaTrader 5 is offered. But this is not the only platform clients can join. MassInsights is for social trading and Trading Central for education purposes. In addition, mobile trading is possible.

All in all, the conditions are quite good with UFX but the spreads are a little bit higher than with other competitors. But with this broker here you can expect a secure trading platform with fast execution times.

Trading conditions: 

• Free demo account
• The minimum deposit is $ 100
• Different account types
• Variable spreads from 2 pips
• Leverage up to 1:500
• Different trading platforms
• STP execution
• Trade multiple markets worldwide
• Social trading is possible

Trade more than 6,000 markets without commissions and professional platforms.

(Risk warning: 79.17% of retail CFD accounts lose money)

Review and test the UFX trading platforms

All the trading brokers try to provide a unique, easy, and diverse interface for the trading platform. A good and easy-to-use interface is the most important thing for brokers. UFX has made the best possible interface to give an excellent trading atmosphere to its users. It is designed amazing that a new trader can do very well on it.

Overview of the UFX platform

At the top left side of the platform, the users can access assets like currencies, commodities, indices, stocks, and EFTs. There is also an option of the portfolio, where users can see their holdings and overall value. Transaction history can also be viewed as the economic calendar as well. At the bottom of the left side, there is an option of support, where people can contact customer support.  The top side of the main page has equity, balance, P&L, positions, free margin, and the option of used margin. People can also access the trading central. There is an option of deposit at the top right corner of the platform. The live price bars and charts can be viewed from the main page.

Different assets, indices, companies along with the buy/sell rates and the spread can be seen. Users of the UFX can also view 24 hours changes in the market price along with the 24 hours high and low market price.

Following are the other platforms offered by the UFX:

Mass insight tech

Mass insights tech helps the users to perform better with the help of AI-based techniques and methods in trading.

Trade more than 6,000 markets without commissions and professional platforms.

(Risk warning: 79.17% of retail CFD accounts lose money)

MT5

MT5 is the most advanced form of trading platform that helps users in getting multiple benefits at the same time. Users of MT5 get instant news, feedback, and expert analysis. Hence, it greatly helps the new traders in trading.

Trading Central

Trading Central helps the traders to get the latest updates and analyses from the top experts. All the details and analysis are done in a pure simple way to help the new traders. Trading Central helps in the fast execution of orders.

Mobile trading app

UFX has made a great contribution in facilitating the traders. Just like all other platforms, UFX has launched mobile trading on mobile apps on the apple store and android store as well. The mobile application is easy to use and is full of the latest features. The size of the file is 9 Mb and has 500K+ downloads. It shows the popularity of UFX among the users.

Languages supported by the UFX trading platforms:

Following are the languages offered by UFX for users of different countries.

Japanese, Vietnamese, Danish, Indonesia, Hungarian, Czech, Malay, Chinese, Romanian, German, Arabic, Swedish, Norwegian, Finnish, Italian, French, Polish, Russian, Portuguese, Hindi, Dutch, Turkish, Spanish, English.

Learning to trade with UFX

UFX has fulfilled its promise of imparting technical knowledge of trading among users.  The platform has helped a lot in this field by making new traders into professional traders within a short span of time. The features and facilities like an economic calendar, elective professional clients, video lectures to train the news traders have made significant positive results. In this way, UFX has done a lot in educating the new traders by empowering them with the necessary tools required for trading. SMS alerts, recent updates are given to certain account types to have full interaction with the market and information about their trades.

How to open your account

The process of opening the account is simple due to its easy-to-use interface. The users need to enter their first and last name, email, set password, any promotional code to get a discount, country selection, and by entering phone number. Traders have to continue and proceed to the next step of verifying the account by clicking the link sent to the email address.

The best alternatives for traders – get professional trading conditions with a regulated broker:

Broker:	Review:	Advantages:	Free account:
1. Capital.com	(5 / 5) ➔ Read the review	# Spreads from 0.0 pips # No commissions # Best platform for beginners # No hidden fees # More than 6,000 markets	Live account from $ 20: Open your free account (Risk warning: 79.17% of retail CFD accounts lose money)
2. RoboForex	(5 / 5) ➔ Read the review	# High leverage up to 1:2000 # Free bonus # ECN accounts # MT4/MT5 # Crypto deposit/withdrawal	Live account from $ 10 Open your free account (Risk warning: Your capital can be at risk)
3. Vantage Markets	(5 / 5) ➔ Read the review	# High leverage up to 1:500 # High liquidity # No requotes # MT4/MT5 # Spreads from 0.0 pips	Live account from $ 200 Open your free account (Risk warning: Your capital can be at risk)

Account types offered by UFX

UFX trading platform has made trading easy for its users by providing trading accounts for every class of people. Before that trading was only available for the rich ones, but now due to the bifurcations of trading accounts, trading is accessible for all classes of society. It offers multiple trading accounts with varying features. Here, we will look into each account briefly.

Micro Trading Account

Following are the features of the Micro Trading Account offered by UFX:

• The minimum deposit is $100
• Daily reviews
• Daily recommendation
• Video library access
• 24-hour live support

Mini Trading Account

Following are the features of the Mini Trading Account offered by UFX:

• The minimum deposit is $500
• Personal coach
• Daily review
• Daily recommendations
• Video library access
• 24-hour live support

Standard Trading Account

Following are the features of the Standard Trading Account offered by UFX:

• The minimum deposit is $1000
• VIP support
• Video library access
• Personal coach
• Exclusive update
• Daily review
• Daily recommendation
• 24-hour live support

Gold Trading Account

Following are the features of the Gold trading account offered by UFX:

• The minimum deposit is $5000
• VIP support
• Video library access
• SMS alerts
• Personal coach
• MT4 platform access
• Exclusive update
• Daily recommendation
• 24-hour live support

Platinum Trading Account

Following are the features of the Platinum Trading Account offered by UFX:

• The minimum deposit is $10,000
• VIP support
• Video library access
• SMS alerts
• Personal coach
• MT4 platform access
• Exclusive update
• Daily recommendation
• 24-hour live support

Islamic Trading Account

Following are the features of the Islamic Trading Account offered by UFX:

• The minimum deposit is $10,000
• Personal coach
• Daily review
• Daily recommendation
• Video library access
• 24-hour live support

Demo account

A demo account is a great facility for the users to facilitate them getting a real-time experience. This facility helps the users to go- through a hard time and to test their nerves during real trading. The platform offers around 10,000 USD in virtual funds for a demo account.

Trade more than 6,000 markets without commissions and professional platforms.

(Risk warning: 79.17% of retail CFD accounts lose money)

Negative balance protection

The negative balance of protection has proved a life-saver for the new traders. Just like other platforms, UFX has also offered the facility of the negative balance of protection to save its users from getting into debt. This feature works in a way that when the traders are at a great loss, it automatically activates the stop loss, and a sell order is executed to save the funds from getting into the negative.

Deposits and withdrawal

UFX provides a great facility to its users by providing multiple deposit methods and instant deposits. The withdrawal time is also standard around 2 to 5 business days.

Deposit methods offered by UFX

UFX provides a great facility to the users that are available worldwide so that traders don’t have to face any issue regarding the depositing of funds.

Payment methods

Following are the payments methods offered by UFX:

• Visa
• MasterCard
• Maestro
• American express
• Diners club
• Skrill
• Neteller
• Poli
• Sofort banking
• Visa electron
• SOFORT
• Giropay
• Elv
• iDEAL
• cashU
• webmoney
• Qiwi
• Bitcoin
• Paysafecard

The minimum deposit for different account types:

• Minimum deposit is $100 (Micro/Mini)
• Minimum deposit is $500 (Mini)
• Minimum deposit is $1000 (Standard)
• Minimum deposit is $5,000 (Gold)
• Minimum deposit is $ 10,000 (Platinum)
• Minimum deposit is $10,000 (Islamic)

Withdrawal method

UFX has a very clear and transparent policy of making swift withdrawals after careful consideration and verification of the user’s account.

Following are the withdrawal conditions for the withdrawal:

• Withdrawal will be deposited into the same banking method
• Credit cards charges will be 2.5 %
• Wire transfer charges around 3%

Trade more than 6,000 markets without commissions and professional platforms.

(Risk warning: 79.17% of retail CFD accounts lose money)

Support and services

IF you want to judge the services of any working business, one can judge from their vigilance of the customer support they provide for the users. UFX provides 24 hours customer support to its users and due to the great customer support; it gets overwhelming responses from the users. The platform provides support in different ways that we will discuss here briefly.

Email

UFX users can ask their queries at this email. All the queries are addressed within 24 hours time.

Live chat

A live chat is an option is available on the main page, where traders can ask direct questions during the live chat.

Mobile phone

UFX provides has a very long network working in many countries. It has given mobile phone numbers of the different countries offices, where traders can ask queries about their relevant questions and get their issues addressed.

Following is the list of phone numbers of countries.

• Italy users can contact us on +39 069-480-0290
• Czech- republic can contact us on +420 228-881-495
• Spain users can contact us on +34 910-754-783
• Singapore users can contact us on +65 3138-8923
• Bahrain users can contact us on +973 1619-9863
• Turkey users can contact us on +90 212-900-4747
• Russia users can contact us on +7 499-638-5977
• France users can contact us on +33 18-721-0417
• Germany users can contact us on +49 303-080-8240
• United Emirates users can contact us on +800 035-702-407
• Cyprus users can contact us on +357 2222-2171
• United kingdom users can contact us on +44 20 8150 0778

Social media accounts

Social media has become the most influential tool in the modern world. It helps in growing the business by connecting with users

• Twitter: https://twitter.com/UFX
• Facebook: https://www.facebook.com/UFXen
• Youtube: https://www.youtube.com/user/UFXcom

Accepted and restricted countries

UFX has a wide operating network and has the vision to expand the network all over the world also.

Accepted countries

Following is the list of accepted countries for UFX:

• Hungry
• Norway
• Sweden
• Czech republic
• Poland
• Denmark
• Singapore
• Canada
• Spain
• Bahrain
• Turkey
• Finland
• Russia
• China
• France
• Romania
• United Arab emirates
• Germany
• United Kingdom
• Cyprus
• and some more

Restricted countries

• United State of America

Extra features of UFX

• Economic calendar
• Franchise
• Parented referrers
• Affiliate program
• Elective professional
• Daily market review
• Regulated trading platform
• Multiple trading accounts
• Video lecture series

Trade more than 6,000 markets without commissions and professional platforms.

(Risk warning: 79.17% of retail CFD accounts lose money)

Conclusion on our UFX review: Easy to use trading platform

UFX is a secure, efficient, reliable, and regulated trading platform that is providing access to different markets to traders. The platform has instant withdrawal and deposit methods with different payment methods. It has a very unique and easy interface that helps new traders by providing trading education. Customer support of the platform is efficient and provides a quick response. UFX offers multiple offers and promotions from time to time. Hence, this platform is an ambitious one to start the trading journey and investing money in big companies.

Trade more than 6,000 markets without commissions and professional platforms.

(Risk warning: 79.17% of retail CFD accounts lose money)

Read more reviews about brokers:

Last Updated on March 28, 2022 by Andre Witzel