While it is not FCA or ASIC regulated, UFX operates under CySEC regulation, providing a level of investor protection through fund segregation and a compensation scheme. Despite lacking crypto trading and spread betting options, UFX’s user-friendly platform and access to leveraged CFD trading enable traders to speculate efficiently without owning underlying assets. UFX is an online broker offering forex and CFD trading services. Since its founding in 2007, it has attracted traders worldwide with a range of account types and trading platforms. Over the years, UFX has seen various changes, especially regarding regulation and service offerings. This review provides a comprehensive update on what UFX offers today, evaluating its platforms, fees, account options, trading conditions, and overall reliability.
- This combination of platforms allows UFX to cater to a wide range of trading preferences.
- For example, any hedging positions you have open might be charged an administration fee of 0.1% of the total volume per day.
- The accounts require varying levels of minimum deposits, ranging from USD 100 for the Micro account, to USD 10,000 for the Platinum and Islamic accounts.
- This insurance policy ensures that you are covered up to EUR 20,000 if the broker goes bankrupt.
- Moreover, we hereby warn you that trading on the Forex and CFD markets is always a high risk.
When it comes to trading accounts, UFX offers its clients six different options to choose from; Mico, Mini, Standard, Gold, Platinum, and Islamic account. The accounts require varying levels of minimum deposits, ranging from USD 100 for the Micro account, to ufx com forex trading USD 10,000 for the Platinum and Islamic accounts. When trading in UFX, traders can enjoy their proprietary platform, MassInsights Technology. It has won multiple awards for its user-friendly trading tools and quick execution speeds.
Copy Trading is a Social Trading branch where the others copy one trader’s positions to track when they’re open or closed. It’s authorized and regulated by the Cyprus Securities Exchange Commission (CySEC). As per the AML regulations, the UFX account holder’s name and the payment processor must be the same. You earn profits on the whole USD 10,000 but return the USD 9000 to the broker. UFX’s personal proprietary platform ParagonEx WebTrader 4.0, is a web-based platform that requires no downloads. The latest upgrade titled 4.0 comes with integrated charts and an award-winning system that with a modern and silique look.
Offers Altcoins
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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. The Mini, Standard, Gold, and Platinum trading accounts have minimum deposits of $500, $1,000, $5,000, and $10,000 respectively.
But, note that Trading Central is only available for UFX traders who deposited $1,000 or more in their accounts. Besides, MetaTrader 5 is also available for traders who register in UFX. It offers a superior range of features, an intuitive and easy-to-use interface, as well as rock-solid stability and blazing performance.
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This broker offers a range of account types and a reasonable minimum deposit, making it accessible for any trader, regardless of your investment budget. With state-of-the-art trading platforms, UFX aims to meet all its clients’ trading needs while offering stable and competitive spreads. The broker operates a Straight-through-Processing (STP) business model and, as such, does not take opposing positions to that of its clients’ trades. UFX is regulated by the Cyprus Securities & Exchange Commission (CySEC), with license number 127/1. In conclusion, it should be pointed out that dealing desk brokers like UFX are not the most suitable for large and professional traders due to the wide spreads on all trading instruments.
Offers UK Stocks
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. UFX is a broker that is fuelled by proprietary MassInsights Technology. UFX is also one of those very few brokers offering cryptocurrencies like bitcoin. It was established in the year 2007 by Reliantco Investments Limited.
This ensures that the trader does not suffer a loss greater than the amount they are willing to risk. Stop loss orders are commonly used in trading and investing to help manage risk and protect against losses. They can be used for both long and short positions and can be set at various levels depending on the trader’s risk tolerance and trading strategy. It is important to note that stop losses do not guarantee that losses will be limited to a specific amount. In some cases, the price of the security may gap down, and the stop loss may be executed at a price significantly lower than the stop loss level, resulting in a larger loss than anticipated.
UFX Spreads and Commission
- Islamic (swap-free) accounts are available upon request, catering to traders requiring Shariah-compliant terms.
- No dealing desk ensures that UFX is always working on your behalf on trades.
- CySEC also imposes that all the brokers they regulate join the Investor Compensation Fund.
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. The platform also shows information such as when an asset abruptly changes direction in trend, increasing volatility, spikes in open positions, and volume growth.
Skrill is widely used by businesses and individuals for online transactions, particularly in the e-commerce, gaming, and forex trading industries. The platform offers competitive fees, multiple currency support, and high levels of security to protect users’ transactions and personal information. A MetaTrader Expert Advisor (EA) is a software program that is designed to automate trading strategies on the MetaTrader trading platform.
Does UFX offer cTrader trading platform?
Our UFX review team is pleased to recommend this broker to all forex traders, regardless of your level of expertise. MT5 is considered one of the best trading platforms on the market for good reason. It is highly customizable and comes with programming that you can use to build indicators and EAs.
