UFX Reviews 2023 Is the Forex Broker UFX reliable?

They also provide research content in the form of videos, guides, and articles to give users additional and more useful market analysis. UFX offers reliable customer support from Monday to Friday, 24 hours a day. 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. UFX is an offshore STP broker with Forex and CFD trading, founded in 2007 in Vanuatu and regulated by VFSC. It uses fairly high fixed spreads without commissions, allows scalping, but with the condition that the duration of the transaction will be at least one minute.

• Apart from MetaTrader 4, another alternative trading application based on UFX broker reviews that customers of UFX can access is ParagonEx Web Trader 4.0.
• Account registration is straightforward, with little documentation required.
• UFX also extends its own exclusive web-based forex trading platform, ParagonEX, which includes a very simple and user-friendly interface design.
• The latest technology has also been used to ensure the utmost security, privacy, integrity and, if necessary, recovery of data.

For 28-day repos, it was LIBOR added to 1.75 percentage points and LIBOR in addition to two percentage points for every one-year repo. This transpired after it was up two percent against the USD in morning sessions and set a new high of 50.27 against the US currency. The UK pound sterling may gain against the Australian currency as essential data due is scheduled for dissemination. Meanwhile, US gold for settlement in June climbed up 0.3 percent at $1,207.90 for each ounce. At present, Venezuelan currency controls sell US notes to travelers at 12 bolivars per USD which is a tiny proportion of black market price of almost 260 bolivars. A published declaration regulates amount of US dollars that Venezuelan citizens can get at a certain exchange when going out of the country.

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The staff is never working at cross purposes with your interests. The latest in 128-bit SSL encryption technology ensures the utmost security, privacy, and integrity of all pertinent data. Risk Warning – Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you are fully aware of the risks involved and the high probability of losing your money.

Additionally, UFX tried to leave fake reviews for itself at least 6 times. Forex Peace Army believes UFX is a scam broker and warns traders not to trust it. Both markets.com and UFX offer educational support for more experienced traders.

Unique Features

The ufx com forex trading asset list, at this reading, totals out at nearly 250 items, including 51 currency pairs, 8 commodities, 7 indices, 171 stocks, and 12 ETFs. Lastly, Dennis de Jong, the firm’s Managing Director, wants to establish a dialogue directly with you by posting his plans for UFX for the coming year right on the website. Find another forex brokerage house CEO willing to state publicly his commitment and confidence for inquiring eyes to see. His desire is to maintain complete transparency, while “delivering a better experience and making online trading comfortable and convenient.” Unfortunately, U.S. clients are not accepted at this time. This account offers Muslim traders the same benefits as a Micro/Mini account but has a minimum deposit of $10,000 and a minimum trading volume requirement of $100,000. The spreads on this account are the same as those offered on the Platinum account.

The secure trading environment of UFX is also supported by its reliable customer service. The company holds a positive performance through its technical support system. It also comes up as a solid broker for advanced investors as well as beginners. However, it is a bit overpriced and underpromising with its asset selection. The company is also not adept at handling diverse trading conditions.

Is UFX a regulated broker?

First, a daily market and financial research section and a financial calendar that displays a prediction of all the upcoming events are available on the brokers website. UFX mobile trading brings mental peace and tranquillity to traders as it eliminates the thought of missing the trading prospects. Our main concern with this broker is their inadequate regulation.

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. You only need to fill in some basic information at first to set up a demo account.

UFX Customer Support & Research

Only the NFA regulated brokers featured on this site are available to U.S. customers. It is an all-in-one platform that unifies all trading activities in a single, easy-to-navigate interface. The trading platform comes with a superior feature set, comprising intuitive tools, easy-to-use menus, robust platform stability, and high-end performance. The trading platform supports flexible trading and helps clients choose between hedging and netting systems. It offers four different modes for executing orders, which allows clients traders to customize their trading styles. The trading platform provides UFX clients with a pro-level technical analysis, mitigating the high risk of losing money when trading CFDs.

Wide spreads are available for all foreign exchange accounts. UFX provides numerous account options to its customers for registering an account. The account requirements of each account differ from one another. After successfully uploading the documents mentioned above, the UFX compliance team cross verifies all necessary documents submitted for review. UFX then informs the trader if any identity proof is absent, unreadable, or inappropriate. As per UFX review, the brokerage firm is transparent and reliable as it provides all the essential information on its official website.

Which broker offers better market analysis materials?

Some of them only for new clients and some of them all new and old clients. Meanwhile, currency traders were unmindful of figures indicating that the European economy increased rapidly in almost one year. Nevertheless, market analysts say fluctuations in the exchange rate for euro-dollar were possibly inflated during the past two sessions in the course of unimpressive trading volume. Spot gold went flat at $1,207.81 per ounce while bullion went up 1.1 percent before the week ended as some investors tried to drive the price beyond the $1,210 point of resistance. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits.

UFX Markets referrals are rewarded, with a clear and straightforward concept compensating up to 10 levels of referral. Although there’s a high minimum deposit, the program is really valuable, especially for the experienced traders. The first level or the personal referral brings in 15% commission, while level two and three referrals bring in 1% and level four to ten referrals bring in 0.05% commission. We consider this a great business move and these UFX Markets bonuses are a great incentive for new traders to join and promote the broker. Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply.

With over 100 charts displayed across 21 timeframes, this trading platform can ensure that UFX clients do not lose money when trading forex. There are over eighty technical indicators to track every detail of the market. The trading platform also pacifies the high risk of investing in forex pairs by offering important news reports that improve the financial decisions of UFX clients. Advanced traders may receive alerts on trading signals which decode the trends and patterns in the market.

This, of course, does not promise perfect results and is something to be careful with. 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. UFX Markets accepts 18 different payment methods and charges no commission or fees, except for the spread.

Although Markets.com offers only one live account, spreads start at 0.6 pips (EUR/USD), with no commissions and a minimum deposit requirement of only 100 GBP. To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field.

Traders need to fill an online application that states their personal information and contact information. While conducting our review of UFX, our team of experts learned that this broker doesn’t offer social trading. This broker truly caters to traders who want to be in complete control of their trading. Therefore, instead of trying to do multiple things mediocrely, they’ve opted to cater to one type of trader with outstanding services.

The VPS hosting of the platform instruments remote server virtualization for UFX clients. In terms of services, according to our UFX review, it is one of the best forex brokers to handle the trading activities of clients for a wide range of financial instruments. These instruments have been categorized under multiple classes of assets, with forex pairs and CFDs being the primary assets.

This platform also shows a financial events calendar with notifications for upcoming economic events. The stream also notifies you of important market updates and news as they occur to ensure you are up to date with the financial markets at all times. UFX provides you with the opportunity to trade a wide range of company stocks too, as they offer shares from 449 different companies from all over the world. These include Tesla Motors, Facebook, Boeing, Fenerbahce, and plenty more.

Straight-through-Processing business model that provides traders with an easy-to-use trading application for CFD trading. CFDs are derived securities that allow traders to speculate on the price of assets without actually holding them in their accounts. Traders can also trade precious metals including copper, platinum, and gold. Some offered commodities include natural gas, wheat, and Brent.

In fact the representation was false and https://forexhero.info/ was in breach of the contract in that none of the investments made a return. We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading.

Anyone should take risks only if they can risk capital, or else they are more at risk of losing money. According to UFX review, the firm also contains a wide variety of commodities through an in-house trading application as well as via MetaTrader5. Backing our analysis, we can conclude that UFX is a reliable online trading broker with an outstanding reputation. It has a track record of offering splendid financial trading proficiency. UFX trading platform also provides a broad range of forex pairs and has effectively increased its variety of CFDs across Single-Stocks, ETFs, and Cryptocurrency CFDs.