UFX Trading Account – Review, Types, Process, Benefits, Charges & more
Last Updated Date: Nov 16, 2022Find out all details about UFX Trading Account here. If you are interested in trading with UFX, you have landed on the right page.
In this article, we will discuss everything from different types of trading accounts it offers to how to open and set up trading accounts, charges and benefits of each account, and so on.
Complete knowledge of each account will help you take the first step towards entering the Forex market.
UFX Trading Account and Benefits
UFX is an International Forex, CFD, and social trading platform that offers over 100 options of tradable assets. It offers a wide range of accounts to its users with distinctive features.
The basis on which the UFX trading accounts are distinct is the different spread charges, minimum opening balance, minimum and maximum leverage offered, minimum trade value, various features, and trading tools offered, etc.
You can choose the account as per your experience of trading and the size of trading. Each account offers exceptional prospects of trading and boosting your revenues.
With UFX you can trade with the best of the resources. UFX trading accounts are suitable for swing trading, and scalping.
These are also suitable for the new traders as there are no commission charges involved and it offers benefits like social/copy trading, educational services, client support, Expert Advisor and Mass Insights Enable technology.
The Trading Desk Type used in the UFX trading account is Dealing Desk.
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UFX Trading Account Charges
| Trading Account Charges | ||||||
| Account Type | MICRO Account | MINI Account | STANDARD Account | Gold Account | Platinum Account | Islamic Account |
| Initial Deposit | $100 | $500 | $1,000 | $5,000 | $10,000 | $10,000 |
| Spread | 4 pips | 4 pips | 3 pips. | 2 pips | 2 pips | Its 2 pips |
| Commission | No | No | NA | No | None | No |
| Leverage | 1:30 | 1:30 | Its 1:30 | 1:30 | 1:30 | Its 1:30 |
UFX offers a variety of trading accounts to its users with various trading tools and features to trade in different trading volumes.
Micro Account
The minimum deposit required for this account is $100 with the leverage of 30:1. The minimum trading volume required for this account is $250.
Mini Account
The broker offers a Mini account with a minimum deposit of $500; however, commission charges are not applicable on this account. The maximum leverage offered is 30:1. The minimum trade volume is $ 5000
Premium / Standard Account
The standard account minimum deposit amount is $1000 with a minimum trade volume of $10, 000.
Gold Account
To open a gold account, the minimum deposit is $5000 with a minimum trade volume of $50,000
Platinum Account and Islamic Account
Both accounts have the same minimum deposit amount of $10000 with a minimum trade volume required of $100, 000. Commission charges are not applicable on both Islamic accounts and Platinum accounts.
Apart from these accounts, UFX also provides Demo Account and Segregated Account to its users.
A demo account is a practice account for both the new traders and the professional ones.
New traders can learn trading with a demo account whereas professional traders can understand the various tools and functionalities of the account before executing their trade-in professional trading account.
Segregated Account- to ensure the safety of trader’s privacy and funds, UFX keeps the trader’s funds in segregated accounts.
Types of UFX Trading Account
| Types of Trading Account | |
| Trading Desk Type | Dealing Desk |
| Min Deposit | $100 |
| Maximum Leverage | Up to 400:1 |
| Mini Account | Yes |
| Premium Account | Yes |
| DEMO ACCOUNT | Yes |
| Islamic Account | Yes |
| Segregated Account | Yes |
| Managed Account | No |
| Institutional Account | No |
| Suitable for beginners | Yes |
| Suitable for professionals | No |
| Suitable for scalping | Yes |
| Suitable for daily trading | No |
| Suitable for Weekly trading | No |
| Suitable for swing trading | Yes |
UFX offers a range of trading accounts to its users for different trade volumes with different charges. Each account has its own uniqueness.
The features and trading tools also vary from account to account.
The minimum deposit amount to open the micro account is $ 100 that varies in a different account and has a maximum deposit amount of $ 10, 000.
It offers a tight spread as low as 0.2 Pips in Islamic, gold, and platinum accounts, which varies in micro and mini accounts from 0.4 pips, and standard accounts from 0.3 pips.
The leverage UFX offers to the various trading accounts is 30:1. For the regular traders, the maximum leverage is up to 400:1.
Commission charges are waived off in most of the UFX online accounts. It may vary in some of the accounts depending upon the size of the trade.
UFX Account Opening and Trading Process
Here is the process of UFX trading and account opening:
Open UFX Trading Account
To open a trading account with UFX, browse the UFX Website, and click on the first drop-down button on the top of the left side. When you click, many options will appear.
Choose Account and you will get a page where the broker provides six various types of account options –Micro/Mini Account, Mini Account, Standard Account, Gold Account, Platinum Account, Islamic Account.
You will get the option “open your account” at the end of each account type. The steps to open the trading account with UFX are-
- Read the specification mentioned with charges in each account type and choose your preferred account.
- Click on “Open your account option” and a pop form will appear. Fill the form with all the necessary details to submit it
- After submitting the form, you will get an online application, fill that application and submit it to proceed to the next step.
- Now, the next step is verification wherein the broker may ask you to submit your important documents. You may also need to send scanned copies of your identity proof, residential proof, bank statements, and photographs.
- After the verification process, your account will get activated within 1 to 2 working days and the broker will send you login credentials on your email.
- Now you can fund your account with a deposit option with various modes of payments. Choose your preferred payment option and deposit the initial amount required to access the account.
UFX Trading account Set up and Trading process
- UFX trading accounts are available on various devices including web browsers, Android, and iOS devices. Choose your preferred platform and download the app for free from the app store of that particular device.
- After downloading the app, login into it with the login credentials provided by the broker.
- Check your account by funding and withdrawing funds to confirm if it personalized properly.
- Take a tour of your account, choose your favorite trading tools, and establish trading strategies.
- Now you can use the buy or sell orders option to place your trade orders.
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UFX Trading Account – Features
| Trading Features | |
| Educational Services | Yes |
| Social Trading / Copy Trading | Yes |
| Trading Signals | Yes |
| Email Alerts | Yes |
| Guaranteed Stop Loss | No |
| Guaranteed Limit Orders | No |
| Guaranteed Fills / Liquidity | No |
| OCO Orders | No |
| Trailing SP/TP | No |
| Automated Trading | Yes |
| API Trading | Yes |
| VPS Services | Yes |
| Trading From Chart | Yes |
| Interest On Margin | No |
| Offers Hedging | Yes |
| Offers Promotions | Yes |
| One-Click Trading | Yes |
| Expert Advisors | Yes |
| Other Trading Features | No |
UFX is a Forex and CFD broker that offers abundant features to its traders to employ better trading practices and gain maximum profits.
It is a platform that offers its traders some advanced and unique features such as API trading that connect the brokerage account with the screening software to share real-time prices.
It also offers the feature of One-click trading that allows the trader to open or closes a trade with just one clock.
Social Trading or Copy Trading is another feature that allows the traders to copy the expert traders while executing their trade to ensure a beneficial deal.
UFX Online account is a suitable platform for new traders as it also offers Educational services along with social trading, many free tutorials, educational materials, blogs, and programs are available for the new traders to develop trading skills and get the confidence of trading.
More on UFX Online Trading Features
Expert Advisor is another trader-oriented feature that offers the traders with Expert Advisor Software to allow the traders to program the initiation and execution of the trades.
UFX trading accounts are Mass Insights Technology Enabled that offers a live stream of news, market events, and aggregated trading behavior to prepare you for better trading options.
It also offers a hedging feature that reduces the risk of unfavorable price fluctuations by helping the traders use the financial instrument strategically.
As said before, UFX offers a plethora of features. VPS Services, Trading Signals, Email Alerts, Offers Promotions, Automated Trading, Trading From Chart, World-class client support, and many more features are there that make the UFX trading platform a smart platform.
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UFX Trading Account – Conclusion
We have discussed every aspect of various trading accounts of UFX and shared all the features and varying charges in different types of accounts.
You can try a demo account before switching to the professional trading account to have a better understanding of all the trading tools and services UFX offers.
UFX Online Trading – FAQs
Here is a complete list of FAQs related to the UFX Online Trading:
What all assets UFX provides for trading?
UFX provides the major assets for trading including- Commodities, Overnight Commission, Asset Expirations, Currencies, Stocks, ETFs, Indices, etc.
Does UFX provide Demo account Trading?
Yes, UFX provides the facility of operating a Demo trading account free of cost to help the new traders understand the basics of trading markets.
It also helps the experienced traders to understand the functionality of the trading account and how to use different tools and features while Trading at UFC platforms.
It is suitable for both, the new traders as well as the seasoned traders. UFX offers virtual money to its users to let them practice trade and understand the trading techniques without the fear of monetary loss.
Does UFX provide Online Trading?
Yes, the traders can opt for online trading with UFX through its live trading account. At lived trading accounts, the traders can avail the live prices for trading.
What are the platforms UFX offers for trading?
UFX offers many platforms including the award-winning Paragon Ex Web Trader and MetaTrader4 (MT4), and adaptations suitable for iPhone and Android devices.
What are the Major Currencies to make foreign transactions?
UFX allows five major currencies such as the US Dollar (USD), the British Pound (GBP), the Euro (EUR), the Swiss Franc (CHF), and the Japanese Yen (JPY).
Is trading Free at UFX?
No, trading is not free at UFX. There are different types of charges applicable for accessing each type of UFX trading account.
The trader has to pay for the spread charges, initial deposit amount, inactivity fees, charges for various tools and instruments, and more.
UFX also offers a demo account for its traders without any charges.
Does UFX provide Stock Trading?
Yes, UFX offers a wide range of popular stocks to trade online.
Though, as an STP broker, UFX is not involved directly in any stock exchange.
What is Spread at UFX?
Spread charges vary in the UFX account.
The mini and micro-mini account offers spread from 0.4 pips that decrease to 0.3 pips in the standard account.
The gold, platinum, and Islamic account offers a tight spread as low as 0.0 pips.
What is scalping? Is the UFX suitable for scalping?
Scalping means the opening and closing of a position within a fraction of seconds.
UFX is suitable for scalping and has one minute minimum time to close a deal after it has been opened.
Is UFX regulated? Is it safe for trading?
Yes, UFX is regulated by CySEC and is fully compliant with the EU-MiFID Directive and ESMA standards.
Founded in 2007, its European Customer Support Centre functions as per the German standards and is adhered to BaFin, the German Financial Supervisory Authority (license number 80164620).
Regulated brokers cannot manipulate the prices and provide better safety to traders.
What is leverage and how much leverage UFX offers in its trading accounts?
Leverage is a tool that increases trading margins.
It is basically the credit loan that brokers offer to their traders for trading.
Traders use leverage to control a larger amount of currency, index, CFDs, stock, and commodity. UFX offers maximum leverage of 30:1.
For the active seasoned traders, the maximum leverage is up to 400:1.
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