UFX
About UFX Firm
UFX Firm is a brokerage firm owned by UFX Global Limited, with registration in the Republic of Vanuatu. The provision of payment services is handled by a separate entity registered in the UK. Since 2011, the brokerage firm has consistently renewed its license with the Cypriot CySEC – a highly esteemed regulator within the European Union. The company adheres to the financial standards set by the European Union.
Trading Products
- More than 50 currency pairs
- Commodity CFDs
- Stocks
- Indices
- Exchange-Traded Funds (ETFs)
Accounts and Trading Terms
The minimum deposit requirement starts from $100, although most features become accessible with a deposit of $500. There are no commission charges as the brokerage firm generates revenue from spreads. The spread size is fixed and may differ based on the type of account. In case of account inactivity for 3 months, UFX imposes a $50 deactivation fee. The brokerage firm offers 6 different account types, including Islamic accounts, each with distinct features outlined in a comparative table.
Trading Platforms
UFX offers the widely recognized MetaTrader 5 platform, in addition to its proprietary UFX Web Trader platform. The UFX Web Trader platform is web-based, eliminating the need for installation and allowing access from any web browser.
Deposits and Withdrawals
- Bank transfers
- MasterCard, Visa, Visa Electron, Maestro, Diners Club debit, and credit cards
- WebMoney, QIWI, Skrill, Sofort, iDEAL, Neteller, Cashu, POLi, as well as other popular electronic systems and wallets
When initiating withdrawals, it is important to note two key aspects: account verification is necessary, and withdrawals are processed using the same method as the initial deposit. This precautionary measure is implemented to prevent money laundering but might pose some inconvenience to law-abiding traders.
Summary
To engage in successful trading with UFX Firm, we recommend a thorough review of all terms and conditions. It is advisable to seek clarification on important aspects from a manager or the support service. Please be aware that terms and conditions, as well as specifics, may vary for traders from different regions. Prepare for potential bureaucratic procedures as they are integral to the official processes associated with licensing and security measures.
This review has been prepared by the specialists at ExpertsReview.
My experience with UFX was absolutely disappointing. The platform’s user-interface was extremely confusing and cumbersome. Moreover, I’ve noticed some serious transparency issues with them. Their fees were unclear and it often seemed like there were hidden charges. On top of this, their customer support was terrible. Every time I had an issue or a query, they either weren’t available or gave unhelpful, generic answers. Withdrawals were also a nightmare, taking far too much time or getting hit with additional unexpected fees. This is not a trustworthy platform and I would advise anyone considering UFX to look elsewhere.
I am utterly dissatisfied with the services provided by UFX as a broker due to their lack of transparency and professionalism.
UFX is a leading online trading platform that offers a variety of services and products to clients looking to trade in the financial markets. Some of the main services and products offered by UFX include:
1. Trading in a wide range of financial instruments: UFX allows clients to trade in a variety of financial instruments, including currencies, commodities, stocks, and indices. Clients can choose from a wide range of assets to diversify their trading portfolio.
2. User-friendly trading platform: UFX offers a user-friendly trading platform that is easy to navigate and provides real-time market data, advanced charting tools, and a range of technical analysis indicators. The platform is accessible via desktop, mobile, and tablet devices, allowing clients to trade on the go.
3. Personalized customer support: UFX provides personalized customer support to help clients navigate the trading platform, understand market trends, and make informed trading decisions. Clients can contact customer support via phone, email, or live chat for assistance.
4. Educational resources: UFX offers a range of educational resources to help clients improve their trading skills and knowledge. These resources include webinars, video tutorials, market analysis, and trading tips to help clients stay informed and make better trading decisions.
5. Account types: UFX offers different account types to suit the needs of different traders, including beginner traders, experienced traders, and high-volume traders. Each account type comes with its own set of features and benefits, such as leverage, spreads, and trading tools.
Overall, UFX provides a comprehensive range of services and products to help clients trade in the financial markets effectively and efficiently.