UFX Review – Online platforms, Commission, Leverage, Account Types, Features & more

Know everything about UFX Global Forex Broker here. Find details like its Trading Platforms, Apps, Brokerage, Leverage, Account Opening & more.

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About UFX and Accepted Countries

UFX Global is a Forex, Social Trade, and Contract for Differences (CFDs) trading platform with a hundred plus options that are tradable assets.

UFX is also one of those very few brokers offering cryptocurrencies like bitcoin. It was established in the year 2007 by Reliantco Investments Limited.

The platform is fully operational since the year 2010. UFX Global is based in the Republic of Vanuatu. UFX is a broker that is fuelled by proprietary MassInsights Technology.

The platform operates on a Straight-Through-Processing (STP) business model and intrinsically does not take opposing market positions to their clients’ trades.

UFX desires to meet all its clients’ trading needs while at the same time, offering stable and competitive spreads.

68.38% of the traders are operating their accounts at a loss, which is significantly better than the average.

One of UFX Trading platforms’ most palpable aspects is that there’s negative balance protection, while the consumer base of more than 10,000, with a minimum deposit of just USD 500.

UFX Global, as the name says, has made its presence around the globe, in over 182 countries. Including nations in Europe, Asia, Oceania, and Africa.

Major countries UFX covers include the UK, Germany, Australia, South Africa, Thailand, the United States, and China.
Citizens of the USA are not allowed from Trading in CFDs. Considering that the local regulation and regulating brokers do not accept US citizens or US residents as clients.

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UFX Trading Platforms

The UFX global offers two main types of trading platforms. They’re ParagonEx Web Trader 4.0 and the general Meta Trader 5 platforms.

UFX Mobile App

The broker provides its clients with the privilege to trade using their smartphones. UFX has their in-house built application, named ‘UFX Mobile Trading App’.

The application is available in the respective application stores for free of cost. The application comes with Mass-Insights Technology and other many advanced trading tools.

Check out Mobile Apps of more Forex Brokers

UFX Commission or Brokerage or Fees

UFX Charges for inactive accounts but doesn’t charge for withdrawal or deposits.

Trading costs on this platform are on the expensive side, with the EUR or USD spreads varying between 2.0 & 4.0 pips.

Swap rates on leveraged overnight holding positions are also applicable. Since equity and index CFDs are also offered to trade in, corporate actions like dividends and stock split also apply.

A USD 100 inactivity fee is also charged once every 45 days for the accounts with no trading activity for 45 days.

Also, a 0.1% hedging fee is imposed on every trade. The pricing schemes are not as copious as the ones offered by the other brokers.

This overnight fee (or credit) is either added to or subtracted from a trader’s account when a position remains open past a specific period.

Take note that UFX has a small amount required for both deposits and withdrawals. For warranties, the least amount is $50 and $70 for departures.

UFX Account Opening Process

We can create a new account on the online application (website in case of a PC), with the standard opening procedure requiring a few credentials.

This allows the newbies to access the back office. As a Cyprus Securities & Exchange Commissions (CySEC) regulated broker, the UFX sticks to the strict Know Your Customer (KYC) and the Anti-Money Laundering (AML) policies.

New accounts need verification using a copy of the trader’s ID proof and one proof of residency document.

UFX Exposure or Leverage

UFX offers a Leverage of up to 10:1 on the CFDs. The highest Leverage is about 1:30 because the company adheres to the strict CySEC rules and regulations.

The professional traders can apply for Leverage of up to 1:400. That pretty much is achievable with a high probability, considering the trader’s portfolio.

Retail traders seeking higher Leverage will have to search for a platform or a broker who is operating from outside of the European Union.

For example, consider 1:10 Leverage, which means you trade with say USD 10,000, but you have invested USD 1000.

Here the small amount of money controls a large volume of cash. You earn profits on the whole USD 10,000 but return the USD 9000 to the broker. That’s your Leverage.

Payment Methods provided by UFX:

The UFX platform offers traders plenty of choices when it comes to payment processes. Traders get to select out of the following options to trader from:

• Bank wires
• Credit & Debit cards
• Skrill
• Neteller
• SOFORT
• ELV
• Giro Pay
• iDEAL
• Neosurf
• China UnionPay
• CashU
• Qiwi
• WebMoney
• POLi
• Pay safe card

This platform provides compendious information about each service. Yet fails to associate the fees and processing time.

As per the AML regulations, the UFX account holder’s name and the payment processor must be the same.

Find out Payment Methods provided by other Forex Brokers

Investment in Asset Classes or Markets by UFX

The UFX Global, offers assets across the Forex currency markets, commodities, equities, indices, and ETFs.

For now, only Bitcoin is available for trading in the Cryptocurrencies section.

UFX Virtual Trading Account or Demo Account

Demo Accounts are available on the UFX Global platform, which is for practicing.

These accounts allow the trading enthusiast to invest with virtual money and adapt to the trend and learn how to trade.

This is to improve the efficiency of the traders without actually risking real money.

UFX Offers or Deals

The UFX platform doesn’t offer any deals as such, but there’s a good loyalty program that has a very simple concept ‘the more your trade, the more you earn.

UFX Regulation or Licensing

Regulatory oversight, UFX comes under the jurisdiction of the Vanuatu Financial Services Commission.

The UFX global, owned by Reliantco Investments Limited. It’s authorized and regulated by the Cyprus Securities Exchange Commission (CySEC).

Licensed under the license number 127/10 issued on 22nd December 2010.

UFX operates under the Financial Instruments Directive 2014/65/EU or MiFID II and the EU’s 4th Anti-Money Laundering Directive.

As per the EU Directive 2014/49/EU, under the Investor Compensation Fund (CIF) with coverage up to 20,000 Euros is available for all the traders.

Find out Regulations & Licensing of more Forex Brokers

UFX Features

Virtual Portfolio, to review yourself after practicing on the Demo Account. Social Trading, which enables us to copy and execute the strategies of better and experienced traders.

Copy Trading is a Social Trading branch where the others copy one trader’s positions to track when they’re open or closed.

Stop-Loss is an advanced order to sell the assets after falling to a specific price point, which limits the loss.

By using Stop-Loss, the investors’ instruct their broker/ agent to sell a stock when it drops to a particular price point.

Trailing Stops: This is a typical custom instruction to stop orders. That is set at a pre-decided percentage of the price varying from the current market price.

Take-Profit Orders, which is stop-loss in reverse. This means it’s a type of limit order that specifies the actual price to close the order or sell the stock with a profit.

In case the Take-Profit benchmark price isn’t reached, then the Take-profit orders do not get filled.

UFX Global provides Advanced Financial Chart comparison tools. They also provide a Research-backed analysis of the financial markets and other investment opportunities from top-level analysts.

The platform is also available to use on more than one device, including Windows PC, iOS devices, Android devices.

UFX is an easy-to-use trading platform with tools for both Newbie Traders and Seasoned veteran Experts.

The UFX platform is available in over twenty-four different languages that are well known across the globe.

UFX Account Types

Here are the various types of account provided by the forex broker –

Demo Account

The demo account is a virtual account. These type of accounts hat allows learning traders to invest with the virtual money and adapt to the trading trends and learn how to trade.

This is to improve the efficiency of the traders.

Micro Trading Account

These are the type of accounts that demand the least deposit that could be as small as USD 100.

At the same time, there’s no compromise in other services like 24 hours live support, access to the video library, and the traders do get recommendations & reviews on a daily basis.

Mini Trading Account

These are the accounts that are active to trade with a minimal deposit of USD 500.

Here as well, all the general services like 24 hours live support, access to the video library, along with the recommendations and reviews on a daily basis are still being available.

But what makes it different is, here, we do get a Personal Coach.

Standard Trading Account

These are the accounts that are to trade with a minimal deposit of USD 1000.

Here as well, all the general services like 24 hours live support, access to the video library, along with the recommendations and reviews on a daily basis are available.

Not only these but there are also Exclusive updates along with the premium VIP support and a Personal Coach.

Gold Trading Account

These are the accounts that are active to trade with a minimal deposit of USD 1000.

Here as well, all the general services like 24 hours live support, access to the video library, along with the recommendations and reviews on a daily basis still being available.

Along with these, there are a few premium services like Exclusive Updates, access to the Meta Trader 4 platform, SMS alerts, with a personal coach, and premium VIP support are also made available.

Platinum Trading Account

Here, the least deposit is about USD 10,000, and all the services are alike to that of a Gold account.

Islamic Trading Account

These are the accounts that are to trade with a minimal deposit of USD 100.

Here also, all the general services like 24 hours live support, access to the video library, along recommendations and reviews on a daily basis are also available.

Not only these but there are also Exclusive updates along with the premium VIP support and a Personal Coach.

UFX Trading Account Features

Check below all the trading account features under various account types:

UFX – Research & Advisory

Find below all the different reports and support provided by its Research & Advisory team :

UFX Benefits

Whilst, UFX Global doesn’t provide any kind of trading bonuses or prices to its clients. Although UFX does operate a loyalty program named “The Cashback Program”.

The concept of operation ‘the more you trade, the more you earn, rewards.

Adding to that, UFX Global also conducts trading competitions, where the traders can take part in and win impressive prizes. One of the prizes offered is the amazing Lotus Elise sports car.

UFX Cons or Drawbacks:

• UFX doesn’t allow scalping.
• There are inactivity fees.
• No Fellow Chartered Accountant (FCA) Regulated.
• A high amount of charges for the services.
• No automated trading
• No mobile alerts
• Guaranteed limited orders
• Trailing Stops
• Guaranteed Stop loss

UFX Trading Hours

The UFX platform is available to trade for 24 hours during the trading weeks.

UFX Customer Care or Contact Details:

The UFX platform provides 24 hours service to all their customer in the countries that they serve in.

The UFX platform provides customer support service during the trading week (Five days a week). Investors can connect to the service by the available E-mail, live chat, or local phone numbers.

UFX’s European customer support center has a base in Germany. It’s operated by the German Financial Supervisory Authority (BaFin) under license number 80164620.

UFX has a broker notes triple ‘A’ (AAA) support rating. They provide a range of languages and support options for their customers.

UFX customer service supports many languages from all over the world.

Having a broker that can hire people from various locations in the world who can better communicate with you in your local language is a huge advantage while trying to deal with issues.

UFX supports a wide range of languages, including Arabic, English, French, Portuguese, and Russian.

UFX Safety & Security

It operates under the Financial Instruments Directive 2014/65/EU or MiFID II and the EU’s 4th Anti-Money Laundering Directive.

Per EU Directive 2014/49/EU, the traders can get insured under the Investor Compensation Fund (CIF) with at most coverage of €20,000.

This company is well known to have traders who lost a lot of money. Most of the reviewers have said that the money they invested was at risk.

UFX Rating & Review by Top10StockBroker

Based on the user experience, the following rating and reviews are provided.

UFX Forex Trading – Conclusion or Verdict:

The platform is easy to use and adapt. Apart from that, UFX has segregated client funds and is being regulated by CySEC.

This makes it a more credible platform for the newbies to learn to trade.

Keeping in mind the features like stop-loss, social trading, take profit orders, trailing stops, and all the advanced tools, it is one of the platforms we all were looking for.

Also, the prices are a bit higher than the competitors.

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