UFX Trading Platform – Review, Top Features, Set-up Process, Benefits & more
Check out details about UFX Trading Platform here.
UFX is one of the renowned web trading platforms for forex and CFDs traders. It offers many trading platforms along with the latest and most advanced platform MT5.
MT5 is the upgraded version of the MT4 platform that offers a wide range of automated trading tools.
It also provide functionalities to help traders exercise their trading skills to the fullest.
MT5 is the trading platform that opens up many ways for traders to execute their trade quickly and generate maximum revenues.
In this article, we will uncover each aspect that the MT5 trading platform offers and discuss the setup and owning process of the UFX MT5 Trading account.
Read on to get detailed information about the UFX MT5 trading platform.
About UFX Trading Platform
UFX MT5 platform offers you a whole lot of opportunities with flexible access to a group of functions and various types of assets available for investment.
MetaTrader 5 is the advanced edition of the MetaTrader 4 trading platform that offers the latest and highly developed trading functionalities in the trading industry across the globe.
MT5 offers a wide range of automated trading tools that helps the traders customize their trading account as per their preference and expertise to exercise best trading practices and gain maximum revenue.
Over the course of time, the MT5 platform has gone through multiple up-gradation, developments, and progression to provide a better trading experience to users.
MT5 is easy to use platform suitable for both new traders and seasoned traders as it offers primary trading features such as VPS, Technical analysis, fundamental analysis, trading signals, copy trading, four order execution, and more along with access to a demo account.
A demo account is a learning platform that helps the traders look around the account and get complete know-how of its functioning.
Get Free Access to Platform – Open a Forex Account Now!
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UFX Trading Terminal – Top Features
Below we have listed some of the key features related to the UFX trading platform:
UFX web trading platform offers flexible trading and allows the traders to choose between various automated trading tools to employ the best trading practices.
With the MT5 trading platform, you can tailor your account as per your expertise and preference.
Netting and Hedging
The users can opt for netting and hedging systems for order accounting that facilitates the user to check and spot if their account is netting or hedging.
This feature is easy to use, the trader can check by looking at the “journal” tab of the “trade” window.
Four execution modes
UFX MetaTrader 5 platform offers 4 execution modes including Instant Execution, Request Execution, Market Execution, and Exchange Execution.
Pro-level technical analysis
Technical analysis plays a crucial role in successful forex, stock, and futures trading.
It is a tool that recognizes forecast price dynamics, various symbol trends, defines resistance levels, and more. UFX MT5 platform offers the traders to study over 100 charts at once with 21 available timeframes.
It also provides over 80 technical indicators to help you track the smallest details easily and get a comprehensive market analysis.
The function of fundamental analysis is continuous monitoring and study of different economic and industrial indicators that may influence the estimates of financial instruments.
MetaTrader 5 allows you to get the most significant news reports from international news agencies and make profitable financial decisions.
MT5 makes your trading experience better in all ways.
A trading signal is an automated tool that allows the traders to choose paid or free signals available in a live account with a suitable level of risk.
The traders get alerts with noteworthy trends or patterns in the trading market to ensure that no prospective trading opportunity is missed.
Virtual Hosting (VPS)
UFX online trading platform offers operations of your MT5 account even when the computer is turned off.
With VPS, you can virtualize your account and can assess it on a remote server from anywhere.
It also helps traders use Expert Advisors software for delivering automated trading strategies. Within the MT5 platform.
How to Set up UFX Web Trading Platform?
The UFX MT 5 platform is available on various devices including Android, iOS devices, and windows.
The MT5 trading platform is also available on web browsers as Live Trading Account. You can use the account without downloading any software or application.
To set up the account, open the web page of UFX and click on the download button.
After downloading the app or software, choose the “create account” option and fill the form.
After submitting the form, the next step is an online application. Fill the application with the necessary details to proceed further.
The next step requires you to submit the scan copies of some of your important documents such as identity proof, passport, photographs, bank statements, etc.
This is the verification process that helps the broker authenticate your identity and provide your account and funds complete security.
Once all the documents are verified, the broker will activate your account within 2 to 3 working days and send you log-in credentials on your email id along with a confirmation letter.
You can also access the demo account with the same login credentials to understand the functionality of the professional account and then switch to the professional account to execute the trade.
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How to Own UFX Online Trading Platform?
The process of owning a UFX trading platform is simple and easy.
First of all, open the sign-in page of the website and fill in the login credentials provided by the broker to open the account.
After logging in, you will get six options of different accounts such as micro account, mini account, premium/ standard account, gold account, platinum account, and Islamic account. you can choose your preferred option and click on open account.
You will have to fill a small questionnaire and submit it.
After that, you can fund your account with the minimum opening balance required to access it.
As the last step to enter into the trade market, strategize your investment, establish the trading strategies and then finally use the buy or sell the option to place the orders.
Advantages of UFX MetaTrader 5
Meta Trader 5 is the de-facto standard trading terminal for expert traders that comes with many advantages and offers a range of exclusive features.
It is a user-friendly trading platform that offers easy-to-use trading tools with rock-solid stability and high flexibility.
Some of the crucial benefits MT5 trading platform offers are-
- It offers market depth and supports four modes of execution for trade operations.
- It provides several analytical tools that enable precise price analysis and forecasting. UFX MT5 offers over 100 charts to study at once with 21-time frames and over 80 technical indicators for complete market analysis.
- It also provides an economic calendar and financial news services to get the latest status of the financial market.
- MT5 platform’s algorithm or robotic trading feature is one of the best features that analyze the market on your behalf. It simplifies your job and requires you to decide strategy and set up instructions only.
- It comes with an MQL5 programming language for trade advisors and indicators.
In short, MT5 is the new and improved platform that offers you better trading opportunities.
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UFX Trading Platform – Conclusion
Now as we have discussed everything about MetaTrader 5 trading platform including its features, benefits, setup process, owning process, and more, you can now decide your drive to enter the forex market to implement your trading practice.
Use all the information given about the MT5 trading account, and visit the demo account to look around the account and check the various features and trading tools it offers practically.
You can also trade in the forex market with the virtual money you get in the demo account.
This way, you can switch to an MT5 trading account with more confidence and employ the best trading applications.
UFX Trading Platform – FAQs
Here is the list of FAQs related to the UFX trading platform:
How to Buy Currencies via UFX Web Trading Platform?
Though, you can buy the currencies via a UFX account like any other instrument, if you are a beginner, you can use a demo account to learn the functions of the UFX Web Trading Platform. Though,
First of all, you have to examine the instrument or say the currency and check out the appropriate investing price.
The moment the currency reaches the desired price, you can place the order instantly by moving into the order details and clicking on the buy button.
What are the major currencies of the UFX trading terminal?
The major currencies of UFX trading terminals used for foreign transactions are the US Dollar (USD), the British Pound (GBP), the Euro (EUR), the Japanese Yen (JPY), and the Swiss Franc (CHF).
Does UFX MT5 Trading Platform provide direct access to the web?
Yes, the traders can directly access the MT5 trading platform via a web browser. There is no need to download the app or software for web trading.
You just have to open the MT5 web page and log in to the page using the login credentials. A dashboard will appear after logging in, now you can place your trade orders actively.
What is the Technical Analysis feature of the UFX MT5 trading platform?
It is the most significant feature that allows the traders to examine over 100 charts of currency and stock quotes at a time and do a comprehensive analysis of the micro price movements with the availability of 21 timeframes.
The traders can also choose between numerous free-of-charge indicators from the codebase and create their indicators with the MQL5 programming language.
What documents are required to perform the KYC process?
For registration with UFX, the broker may ask the trader to submit the following documents via fax, email, or in scanned form-
- A copy of passport, or identity proof
- A copy of bank statements
- Copy of both sides of your credit card
- Residential proof
These are the documents required to verify the validity of your account and ensure the safety of your funds, account, and transaction.
Can the residents of the United States access the UFX account?
No, the U.S residents cannot access the UFX trading account.
Is the UFX trading platform free to use?
No, the UFX platform is not free to use. The traders are required to deposit a minimum opening balance of $100 to access any trading account.
Each account has a different minimum opening balance depending upon its offerings.
Apart from the initial deposit amount, some other charges are also applicable to access UFX trading accounts such as spread charges, commission charges, inactivity fee, leverage, etc.
However, the demo account is free to use and does not involve any charges to operate and trade.
Can we open the UFX online trading account with the KYC process?
No, KYC is the important step while registering for the account opening.
The broker may also ask the trader to submit scanned copies of the important documents such as passport, bank statements, identity proof, photographs, etc. it is a primary step that verifies your application and authenticates your identity.
The verification process is an important step that ensures the safety of your account, funds, and transactions.
Get Free Access to Platform – Open a Forex Account Now!
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