Who are UFX?
UFX are a broker that is based in the UK and that is specialised in CFDs (Contract for Difference). It is owned and managed by Reliantco Investments Limited which is a company regulated by the CySEC regulation. The company was established in 2007 and it is registered in Limassol, Cyprus. UFX is also have the benefit of MiFID so it can provide services across Europe. They have been winning a number of awards in recent times and are currently sponsored by the Barcelona football legend Andre’ Iniesta. Those are some the main industry awards prices that they have won: European Financial FX Director of the Year in 2014 and 2015, European FX Broker of the Year in 2014 and 2015, UK Forex Winner 2015, and the UK Forex Winner for Best Forex Customer Service. They put all the clients funds in segregated accounts in tier-1 banks so your funds will be secure and separated from the company money.OPEN DEMO ACCOUNT >
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How are UFX’s spreads and fees?
Similarly to the majority of online trading brokers UFX do take a fee from the spread. As you might know the spread is the difference between the buy and sell price of a financial instrument. Below we have analysed their spread and compared with some of the brokers that feature on TopTradingPlatforms.co.uk. The colour does show how competitive UXB spread is vs other brokers.
As we can easily see from the graph UFX’s minimum spend for trading EUR/USD is 4.0 pips. This is quite high compared with the average EUR/USD spread of 0.82 pips. So if we are looking simply on spreads there are other options available in the industry where you can get a better return from investments. However UFX has also other strong points that is worth considering.SEE ALL SPREADS >
How many accounts types are available at UFX?
There are lots of account types available to traders at UFX and those are: Mini Account, a Standard Account, a Gold Account, a Platinum Account and an Islamic Account.
Each of those will have unique characteristics and UFX have structured each account in different way so that it will fit with the preference of each trader. If we look at the Mini Account for example you will require a minimum deposit of £25 and a minimum trading volume of £5,000. The Standard Account require a minimum deposit of £1,000 with a minimum trading volume of £10,000. The Gold Account, as we can see from the name, requires a minimum deposit of £5,000 and a minimum trading volume of £50,000. Than the Platinum Account is £10,000 deposit and trading volume of £100,000. If you are muslim and wants to trade following your religious rules you can also open an Islamic Accounts: in this case £1,000 deposit will be necessary and a trading volume of £10,000. The good news is that regardless of which account you will pick, you will have a personal trading trainer and 24/7 live support. You can also be able to access daily recommendations, market reviews and videos. If you than decide to go for the Standard, Gold or Platinum account you will also benefit from VIP trading support and also exclusive updates. Those accounts also benefit from MetaTrader4 platform access and SMS trading alerts.
How good is UFX Trading Platform?
UFX is specialised on CFDs and have made sure that wherever you are you can trade without any hassle. You have several options when trading with UXF: you can either download the trading platform on your computer or you can simply login via any browser and enjoy their Web-based trading. If you are on the go you can of course use their mobile app that is also available for tablets. The good thing is every platform is really well designed and user-friendly. Their no-download ParagonEx Web Trader 4.0 is particularly good as it has lots of new features that will enhance your CFD trading. If you trade on mobile you will really like their UFX trading app: it is completely free to download and it is very much suited to all different devices (iOS and Android).
In UFX you will also find the famous MT4 platform. Surely this is another class and only the best brokers are able to offer MetaTrader4. You will also be able to get trading resources and advanced technical analysis that will make your life much easier. Also you can set automated trades and have access to very advanced charts. You have to note tough that only the premium account holders will be able to access MetaTrader4.
What are the deposit options with UFX?
Deposit and withdraw money from your UFX is really simple as this online broker do accept lots of different payments methods like Visa, Sofort, MasterCard, Maestro, Diners Club International, American Express, POLi, Neteller and Skrill. You can also transfer your money in and out from your account with Bank Transfers. They have a very high security as they do run SSL technology to ensure that all your sensible data will be encrypted and that third party can not intercept anything.
What are the markets you can trade with UFX?
UFX give traders the opportunity to trade on many different assets like currencies, commodities, stocks, indices, and ETFs. Below are some examples of the financial instruments you can trade with UFX:
Commodities: silver, gold, crude oil, and natural gas
Indices: the DAX, the S&P 500, Dow Jones Industrial Average and the NASDAQ Composite Index.
ETFs (Exchange Traded Funds): DIA, GDX, USO, XLV, QQQ and others.
Currency Pairs: EUR/USD, GBP/USD, USD/JPY, GBP/JPY, EUR/GBP and others.
Stocks: Apple (AAPL), Google (GOOG), Facebook (FB) and others.
Leverage on stocks is 20:1, 400:1 on currencies and commodities, 50:1 or 100:1 on exchange traded funds, and 50:1 on indices.
How is UFX Customer Support?
UFX allow customers to get in touch with their customers support agents in many different ways. They also have opportunities to reach them via Viber or WhatsApp between 6 AM GMT and 7 PM GMT. Alternatively you can get assistance anytime in 24 languages via phone or you can complete an online contact form. We tested their agents and we were satisfied with their responses and we didn’t had any unwanted marketing push when dealing with them.
Most UK traders will like UFX. It does offer a lot of CDF trading options and the spread is competitive. Also it does allow to start trading with a low capital as they have a generous leverage, They do also guarantee that you will never lose more than what you have deposited which is great. Their platforms make sure you can trade in the best conditions regardless if you download their platform, if you use their web-version or if you use their apps with your mobile or tablet. They are fully regulated and take security very seriously as they have a double layer firewalls and encryption technology to protect your sensible information. Their customer service is also good and resolve most queries almost immediately.
Your capital is at risk