UFX is an established online trading brokerage company with many years of experience. They specialize in commodities, ETFs, indices, currency pairs, and stocks. The UFX website is mobile-responsive, which means that it works flawlessly on any mobile device, regardless of the platform. You can also easily trade on your mobile device with UFX as this broker offers a mobile version of their ParagonEx trading platform and MT5.

This broker offers major pairs, such as the GBP/USD and USD/JPY, as well as various crosses, like the EUR/CAD and CAD/JPY. You’ll also find some options that are a little more exotic, like the USD/TRY. MT5 allows you to open over 100 charts at the same time and has 21 timeframes. It comes with more than 80 indicators and allows expert advisors or automated trading. When making a withdrawal, you will have to supply a valid photo ID and proof of address.

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. For example, new traders are offered a bonus of up to $50 when they sign up. The company also holds trading competitions on a regular basis where traders can win various prizes including a Lotus Elise car.

UFX trading bonuses

Our UFX review team is pleased to recommend this broker to all forex traders, regardless of your level of expertise. One essential aspect for any top-quality broker is customer support, so our team tested UFX to see how their staff fared. We’re pleased to report that this broker’s customer service team is outstanding. The representatives we spoke to were quick to respond, eager to help, and very knowledgeable.

Traders can use the data they find on UFX to determine a stock’s intrinsic value. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money. If you are interested in trading indices, then UFX has more than enough options for you to diversify your trading portfolio.

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A Contract for Difference (CFD) is an agreement between an investor and a CFD broker to pay the difference between an asset’s opening and closing prices, such as a UK stock. No underlying assets are exchanged on a CFD trade, it is purely a speculative deal on the up or down price movement on an aggreed financial asset between the trader and CFD broker. The Gold account comes with a minimum deposit requirement of $5,000 and a minimum trading volume of $50,000. With this account, you will receive everything that is included in the Standard account as well as access to the MetaTrader 5 platform. UFX offers various types of trading accounts including Micro, Mini, Standard, Gold, Platinum, and Islamic trading accounts.

Another of UFX’s proprietary trading technologies, this system provides valuable information on a variety of assets that will help you make better trading decisions. Customizable charts, multiple timeframes, charting tools, and indices are all available via the web trader, ufx broker offering an outstanding trading experience. In today’s competitive financial technology landscape, companies and firms started expanding their platform ecosystem and offered services to cater to the diverse needs of the market. On UFX traders can utilise fundamental data analysis to perform stock evaluation related to current economic environments, a company’s competitors, and a company’s financial health.

MetaTrader 4 (MT

In 2023, UFX’s regulatory standing took a major hit when its CySEC license was revoked, sparking concerns across the trading community. You need to check that the account you open with UFX is covered by a major financial regulator that offers you protection in your country. CFD providers typically charge a financing rate for holding a trader’s position overnight. UFX offers Islamic accounts that are compliant with Shariar law. For novice and new traders, copy trading is a fantastic solution.You have the option of starting slowly and learning how to trade properly.This means that you can study while also earning if you are new to Forex trading. All this information is available right in your ParagonEx Web Trader, which makes this trading platform incredibly powerful.

Exchange-Traded Funds

  • Most importantly, their trading platforms support mobile trading.
  • While not quite on par with some other highly reputable forex brokers, UFX also offers a limited number of commodities for you to trade with.
  • They also provide research content in the form of videos, guides, and articles to give users additional and more useful market analysis.
  • As a Micro/Mini account holder, you will be granted access to UFX’s daily market reviews, video library, daily recommendations, and 24-hour live support.
  • The best thing about these apps is; they are easy to navigate and come with a broad range of useful features.

UFX is a solid, albeit overpriced broker operating out of Cyprus. While the asset selection is adequate for retail traders and most advanced traders alike, the trading conditions provided are unacceptable. Proper research requires a $1,000 minimum deposit, and an Islamic account is only granted above $10,000. The MT4 trading platform was not supported at the time of this UFX review, and traders who wish to use the MT5 version are asked to deposit $5,000. This broker developed its services around its proprietary MassInsights Technology, featuring attractive tools for traders, but it doesn’t justify the non-competitive trading conditions. UFX shows a lot of promise, but there are certainly aspects that deserve to be addressed to make the broker a more attractive option, especially for more established traders.

Also, withdrawals to credit cards can only be made in the amount you deposited. For example, if you deposited $500 via credit card, and want to withdraw $750, only $500 will be sent to your credit card. This broker also reserves the right to charge a maintenance fee of $100 for inactive accounts every 45 days. An inactive account is one that has not had any sort of movement for 45 days. For example, any hedging positions you have open might be charged an administration fee of 0.1% of the total volume per day. Any fees charged by your bank or payment processor, however, are your responsibility, which is to be expected.

The platform also shows information such as when an asset abruptly changes direction in trend, increasing volatility, spikes in open positions, and volume growth. It should be noted that the minimum deposit changes based on account type. This UFX review explores a highly reputable, well-regulated STP broker. UFX is a leader in the retail trading industry and offers its services to clients all over the world. 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.

  • To open an Islamic account, you must reach the UFX customer support with necessary documentations to supplement your account opening request.
  • Therefore, instead of trying to do multiple things mediocrely, they’ve opted to cater to one type of trader with outstanding services.
  • 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.

It’s also worth far more to beginner and veteran traders alike than just educational materials. MetaTrader 5 is a highly popular trading platform that provides a wide range of benefits. It comes with a user-friendly interface, excellent performance, and an extensive range of charting and analytical tools. Bank wire withdrawals can take up to 3 business days to reach your account, while e-wallet can take up to 5 business days.

Professional accounts

If the order is filled on UFX, it will be at the pre-determined limit price or better only. Having said this, with a UFX limit order there is no assurance of trade execution. A minimum investment of 100 is required when trading financial instruments with UFX.

Common non-trading fees include the withdrawal fee, deposit fee, account fee, or inactivity fee. It’s a great broker that offers an outstanding trading experience. Our team of experts concluded that UFX was one of the top forex brokers they reviewed. From a user-friendly proprietary trading platform to the excellent analytical technology this broker has developed, you will truly have all the tools you need to succeed as a trader at your fingertips.

UFX is regulated by the Financial Conduct Authority, meaning that it must always take the relevant steps to ensure its users’ money is safe. UFX also possesses a range of security measures designed to seek out any system bugs and therefore protect its users. UFX further claims that all withdrawal requests will be processed within two business days, and that this may be done both on the app and on the website.