Non-trading fees can include various fees or charges that one has to pay which are not related to buying or selling assets on an exchange. Common non-trading fees include the withdrawal fee, deposit fee, account fee, or inactivity fee. It’s a great broker that offers an outstanding trading experience. Our team of experts concluded that UFX was one of the top forex brokers they reviewed. From a user-friendly proprietary trading platform to the excellent analytical technology this broker has developed, you will truly have all the tools you need to succeed as a trader at your fingertips. UFX is an established online trading brokerage company with many years of experience.
Trading Account Types
Over the years, they’ve successfully established themselves as highly reputable. They have a perfect marketing approach, and their customer support appears to be highly-knowledgeable. This broker provides limited free research daily, inspired by marketing needs. UFX provides six unacceptable account options for traders to consider. 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. In its prime, UFX was seen as an innovative platform backed by regulatory oversight and unique trading tools.
Bank wire withdrawals can take up to 3 business days to reach your account, while e-wallet can take up to 5 business days. Also, withdrawals to credit cards can only be made in the amount you deposited. For example, if you deposited $500 via credit card, and want to withdraw $750, only $500 will be sent to your credit card. This broker also reserves the right to charge a maintenance fee of $100 for inactive accounts every 45 days. An inactive account is one that has not had any sort of movement for 45 days.
- You’ll also find some options that are a little more exotic, like the USD/TRY.
- However, potential traders should exercise caution due to the broker’s questionable regulatory standing and limited educational resources.
- For example, UK clients do not have access to cryptocurrency CFDs, due to FCA restrictions.
- Research is exclusively provided in partnership with Trading Central, a leader in independent third-party research, but it is solely available to traders with a minimum deposit of $1,000 and above.
How does UFX Make Money
For example, UK clients do not have access to cryptocurrency CFDs, due to FCA restrictions. However, our team doesn’t consider this a major issue seeing as there are plenty of other trading instruments available. While other major forex brokers might offer more currency pairs, you’ll find that UFX offers more than enough profitable opportunities. Furthermore, they offer all the most popular currency pairs, which is more than sufficient for most traders.
This broker offers a range of account types and a reasonable minimum deposit, making it accessible for any trader, regardless of your investment budget. UFX is a brokerage operational since 2010, is a broker that is fueled by its proprietary MassInsights Technology. All trades are reported to an EU verified trade register, resulting in 2.8 million unique trades submitted to the CME in 2018. A secure trading environment and reliable customer service are key offerings at UFX.
MetaTrader 5
- UFX offers a variety of trading platforms and account types to cater to different trading preferences.
- Besides providing access to Trading Central, this firm has also developed proprietary analytical technology to ensure you have all the information you need to trade effectively.
- Having a news feed means that such features can be executed as soon as big events across the world occur.
- As a CySEC regulated brokerage, UFX adheres to a strict KYC/AML policy.
- UFX is a straight-through-processing or STP broker, which means this broker passes on your order directly to their liquidity provider without going through a Dealing Desk.
Trading costs at this market maker are on the high side, with spreads for the EUR/USD ranging between 2.0 and 4.0 pips. Details are listed on the company’s website, and the trading platform should provide precise trading costs. Since equity and index CFDs are offered, corporate actions like dividends and stock splits apply. A $100 inactivity is charged every 45 days for accounts with no trading activity for 45 days, and a 0.1% hedging fee is also levied. Broadly speaking, the pricing environment is not as generous as those provided by other top brokers. UFX has a long history in the financial markets—it’s been offering broker services to retail traders since 2007.
If you want to try your hand at trading ETFs, then UFX is the broker for you as they have quite a significant offering. With 42 ETFs to choose from, including EWN, XLP, GDX, and FEZ, you have plenty of opportunities to make a profit. This broker offers major pairs, such as the GBP/USD and USD/JPY, as well as various crosses, like the EUR/CAD and CAD/JPY.
The UFX broker provides its traders with access to various trading platforms. For a Mini/Micro UFX trading account, the minimum deposit is $100. However, to open a demo account with UFX, you don’t need to make a deposit. The other accounts include Mini, Standard, Gold, and Platinum, which require $500, $1,000, $50,000, and $100,000 deposits respectively.
UFX is a solid, albeit overpriced broker operating out of Cyprus. While the asset selection is adequate for retail traders and most advanced traders alike, the trading conditions provided are unacceptable. Proper research requires a $1,000 minimum deposit, and an Islamic account is only granted above $10,000. The MT4 trading platform was not supported at the time of this UFX review, and traders who wish to use the MT5 version are asked to deposit $5,000.
Unfortunately, the MT4 trading platform is unavailable, while the MT5 requires a $5,000 deposit. During our UFX review we could not find support for autotrading services, making this a less-than-ideal option for more advanced traders. Having a news feed means that such features can be executed as soon as big events across the world occur. The Mini account has a minimum deposit of $500 and a minimum trading volume of $5,000. As a Mini account holder, you will receive access to everything the Micro/Mini account offers along with VIP trading support. Simple swipes help switch between the variety of functions and areas of the UFX app and there is the capability of setting price alerts and accessing training videos or forums.
General UFX Reviews
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. UFX offers users comprehensive support via email,phone, and live chat. Withdrawing and depositing to your trading account is one of the most important aspects to the trading aspects to trading. UFX must be relied upon when deposited too and withdrawing from the UFX platform. UFX offers a iPhone Apple iOS mobile trading app available on iTunes.
UFX trading fees
UFX offers trading financial instruments to its 10,000 customers. MassInsights offers a live stream of market events and aggregated trader behavior. You’ll be able to see what assets are trending among other traders.
Therefore, any orders you place will be executed automatically without any requotes. CySEC also imposes that all the brokers they regulate join the Investor Compensation Fund. This insurance policy ensures that you are covered up to EUR 20,000 if the broker goes bankrupt. UFX is a legit brokerage, in full compliance with its European regulator. Reliantco Investments, the owner of UFX, is a Cyprus Investment Firm authorized and regulated by the Cyprus Securities Exchange Commission (CySEC), under license number 127/10, since December 22nd 2010.
UFX Account Types
MT5 access does not seem to be available in the Islamic account despite the high minimum deposit. With over 15 years in the online trading industry, UFX once positioned itself as a reliable forex broker offering cutting-edge technology and diverse ufx com forex trading asset access. Known for its MassInsights™ technology and tiered account types, UFX drew attention from beginner and experienced traders alike. The caliber and reputation of UFX can be evaluated on the features that it offers its users. Some of its key features include order execution tools, live news feeds, fundamental research tools, scanning tools, charts, and live support from UFX staff.Alternatively, one can analyse the trading features themselves that UFX might have to offer.
Excessive trading fees and an unusual approach to account specification stand out as significant errors by the management team. UFX offers mobile applications for both iOS and Android devices, enabling traders to manage their accounts and execute trades on the go. The mobile platforms mirror the functionalities of the desktop versions, ensuring a seamless trading experience across devices. While not quite on par with some other highly reputable forex brokers, UFX also offers a limited number of commodities for you to trade with.
To open a UFX professional account, you will need to prove that you are a professional trader, which will include answering a few questions to prove your knowledge. You’ll also have to meet certain conditions imposed by law, including having a significant trading portfolio and a high trading volume. The broker also offers additional trading content and research insights from iSignals and Alliance Signals. They also provide research content in the form of videos, guides, and articles to give users additional and more useful market analysis. UFX offers reliable customer support from Monday to Friday, 24 hours a day.
Some of these methods include bank wire transfers, credit cards as well as eWallets. The online brokerage firm also offers mobile-friendly ParagonEX and Metatrader4 mobile applications. Their mobile web trader comes with all the features in the desktop trader. Also available are native mobile apps which are easily accessible on Play Store and App Store. UFX allows traders to trade in stocks, commodities, currency pairs, market indices as well as ETFs. Currently, there are twenty-nine types of shares, over sixty currency pairs, ten ETFs, seven types of commodities, and seven market indices.