For example, new traders are offered a bonus of up to $50 when they sign up. The company also holds trading competitions on a regular basis where traders can win various prizes including a Lotus Elise car. The EUR/USD, the most liquid currency pair, ranges between 2.0 pips and 4.0 pips. A $100 inactivity is charged every 45 days for accounts with no trading activity for 45 days, and a 0.1% hedging fee is additionally levied.
- With a revoked CySEC license, multiple international warnings, and an unclear operational status, UFX is no longer a broker that offers the same level of security and transparency.
- So, if you deposited via Skrill, you can only withdraw to Skrill.
- Otherwise, the Platinum account is identical to the Gold account.
- Six distinct account types are available, but none provides traders with a great choice.
- The gold and platinum accounts have fixed spreads of 2 pips on the same pair.
With this account, you will receive everything that is included in the Standard account as well as access to the MetaTrader 5 platform. UFX offers various types of trading accounts including Micro, Mini, Standard, Gold, Platinum, and Islamic trading accounts. Their accounts have varied minimum deposits with Micro and Islamic trading accounts having the lowest minimum deposits of $100.
UFX customer support
Our UFX review team is pleased to recommend this broker to all forex traders, regardless of your level of expertise. One essential aspect for any top-quality broker is customer support, so our team tested UFX to see how their staff fared. We’re pleased to report that this broker’s customer service team is outstanding. The representatives we spoke to were quick to respond, eager to help, and very knowledgeable. This platform also shows a financial events calendar with notifications for upcoming economic events.
UFX Review Final Verdict
UFX offers a variety of trading platforms and account types to cater to different trading preferences. However, potential traders should exercise caution due to the broker’s questionable regulatory standing and limited educational resources. It is advisable to thoroughly research and consider these factors before engaging with UFX forex broker.
UFX Portfolio and fee reports
Now operating without oversight from major regulatory bodies, traders are questioning whether UFX remains a viable broker—or if it’s become a risk too big to ignore. Stocks and ETFs are traded directly on an exchange meaning that they may be subject to brokerage commissions, which can vary depending on the exchange. A UFX limit order is an order placed by a trader to buy or sell a specific stock but with a certain restriction on the maximum price that will be paid for the stock or the minimum price that will be received after the stock is sold. If the order is filled on UFX, it will be at the pre-determined limit price or better only. Having said this, with a UFX limit order there is no assurance of trade execution. A minimum investment of 100 is required when trading financial instruments with UFX.
UFX Market Orders
The best thing about UFX is that they offer customer support in multiple languages based on the preference of customers. Most importantly, UFX is easy and straightforward to use, and this makes them ideal for first-time traders. Accounts are swiftly opened via an online application, the standard operating procedure. As a CySEC regulated brokerage, UFX adheres to a strict KYC/AML policy.
A UFX stop order is an order that a trader places to buy or sell a stock once the price of that stock reaches a pre-determined price, known as the ‘stop price’. When this specific stop price is reached, a stop order will then become a market order. A UFX stop-limit order is an order to buy or sell a stock combining the features of a stop order and a limit order. Once the stop price of a trade is reached, a stop-limit becomes a limit order that will then be executed at a pre-determined price. A UFX market order is an order to buy or sell a stock at a market’s best available price in that current moment. A market order will usually complete an execution, but it does not guarantee a specified price.
The best thing about these apps is; they are easy to navigate and come with a broad range of useful features. When it comes to charting, the apps offer unique experiences and come with multiple drawing tools and indicators. A $1,000 minimum deposit is necessary to receive access to proper research at UFX. However, the broker does not offer comprehensive educational materials or courses to help traders enhance their knowledge and skills. To open an Islamic account, you must reach the UFX customer support with necessary documentations to supplement your account opening request.
Retail trading accounts
The spreads on this account are the same as those offered on the Platinum account. The Micro/Mini account features a minimum deposit of $100 and a minimum trading volume of $250. As a Micro/Mini account holder, you will be granted access to UFX’s daily market reviews, video library, daily recommendations, and 24-hour live support. The UFX webtrader ufx com forex trading is built around this broker’s proprietary MassInsights Technology, providing a live stream of market events on top of aggregated trader behavior based on its clients. With a user-friendly interface, simple trade placement, and seven unique sentiment-based alerts, it creates an excellent environment for new traders.
- With a user-friendly interface, simple trade placement, and seven unique sentiment-based alerts, it creates an excellent environment for new traders.
- With UFX, there is the opportunity for certain experienced users to upgrade to a pro trading account.
- Their mobile web trader comes with all the features in the desktop trader.
- Its regulator, CySEC, revoked its license as the company failed to provide information on its investment operation activity.
UFX Customer service
UFX does not offer trading bonuses, but this is because they are not allowed to. Brokers regulated by EU-based agencies are not permitted to offer incentives by law. However, note that you can only withdraw money using the same system you used to fund your account. So, if you deposited via Skrill, you can only withdraw to Skrill. You only need to fill in some basic information at first to set up a demo account.
They specialize in commodities, ETFs, indices, currency pairs, and stocks. The UFX website is mobile-responsive, which means that it works flawlessly on any mobile device, regardless of the platform. You can also easily trade on your mobile device with UFX as this broker offers a mobile version of their ParagonEx trading platform and MT5. You might also not be able to trade BTC at all, depending on your country of residence.
In 2023, UFX’s regulatory standing took a major hit when its CySEC license was revoked, sparking concerns across the trading community. You need to check that the account you open with UFX is covered by a major financial regulator that offers you protection in your country. CFD providers typically charge a financing rate for holding a trader’s position overnight. UFX offers Islamic accounts that are compliant with Shariar law. For novice and new traders, copy trading is a fantastic solution.You have the option of starting slowly and learning how to trade properly.This means that you can study while also earning if you are new to Forex trading. All this information is available right in your ParagonEx Web Trader, which makes this trading platform incredibly powerful.
UFX also possesses a range of security measures designed to seek out any system bugs and therefore protect its users. UFX further claims that all withdrawal requests will be processed within two business days, and that this may be done both on the app and on the website. Start trading with UFX by signing up for an account with this excellent broker now. However, access to Trading Central is only available if you deposit $1,000 or more in your account.