Looking for a new broker that offers good conditions? We have found a CySEC regulated broker that may fulfill your needs! Find out everything about this broker in our full UFX review!
UFX Online Trading Review
UFX is a broker with a solid experience in serving traders worldwide. As our review of UFX has discovered, the company was founded in 2007. Quite pleasing is the fact that the broker is fully legit, as the company is regulated by CySEC under the license number 127/10. In addition, the firm is headquartered in Limassol, Cyprus. Due to certain restrictions, UFX does not accept clients from the United States.
UFX Trading Accounts Review
As an STP broker, UFX Forex broker tends to offer one of the best trading conditions to all clients. This is why users can enjoy a decent choice of live accounts and a demo too. Overall, traders can pick 5 account packages tailored for different types of traders.
It is rather easy to start off at UFX with the minimum deposit requirement of $500. Even for Mini accounts, traders get access to daily market reviews, video library, daily recommendations, 24/5 live support and personal trading trainer.
The Standard account requires depositing at least $1,000. Apart from the features included in Mini account, owner of this account types is provided with VIP trading support and exclusive updates.
As a lucrative account type, Gold account features SMS trading alerts and also access to the top-tier MetaTrader 4 platform. To get even more personalized approach, consider choosing Platinum. Our UFX review admits that the minimum deposit here is $10,000, though this amount seems to be justified.
The last but not the least important is the Islamic account. This fantastic account allows traders that follow Muslim faith to enjoy trading without swap or rollover interest on overnight positions. In order to be granted the UFX Islamic account, it is necessary to contact customer support beforehand.
UFX Reviews of Promotions
UFX rewards are the exclusive bonus program available for all clients. The company enables the trader to earn the cashback bonus, which increases in the course of trading with the broker. In other words, the trader has to achieve the predefined volume targets to be rewarded with this UFX bonus. Each consecutive target increases the bonus cash credited to the account.
Besides cashback promo, the broker offers free $50 for the phone verification.
UFX Trading Platform Review
In terms of trading platforms, UFX offers great flexibility to each trader. It is allowed to select the WebTrader, desktop MT4 and also mobile trading platform.
The UFX WebTrader is based on MassInsights Technology. Traders can observe various market events in the live stream. Additionally, every user on the platform can view the aggregated trader behavior. Reading various UFX opinions from the stream can be helpful to make a well-informed trading decision.
Generally, clients can trade stocks, FX, ETFs, indices and commodities. Our research has confirmed that the total number of assets offered by UFX is over 320. The broker offers fixed spreads that depend on the selected trading instrument and also on the account type. For example, the spread on EUR/USD is 4 pips, whilst for Gold and Platinum it is only 2. Moreover, it is possible to negotiate the spread sizes with the UFX representatives.
Maximum leverage supplied by UFX is 1:400, which is more than enough to trade Forex efficiently.
UFX Reviews: Customer Support
UFX offers splendid client support on its website. To reach the support agents, traders can check up 24 phone numbers, use live chat and email. Furthermore, every client can send text messages via WhatsApp or Viber. This is something unusual among different online FX brokerages. The website itself is available in more than 20 languages. Another good thing is a super-informative FAQ provided on the website.
Deposits & Withdrawals
Depositing and withdrawing funds is not complicated at UFX. Is UFX scam? We do not think so. The broker does not charge a single penny for making deposits or withdrawals. Therefore, trading with UFX is certainly advantageous. There are multiple payment methods available, including credit/debit cards, Skrill, Neteller, CashU and wire transfers.
To withdraw funds, UFX requires every trader to submit all the necessary documentation, e.g. the copy of ID. Once the identity is verified, the client can apply for the fund withdrawals. It usually takes from 3 to 10 business days to process the withdrawal.