UFX Review 2023 Is it a Scam or Legit Forex Broker ️

Hοwеvеr, trading οn a rеliablе trading platfοrm such as UFX will significantly rеducе yοur lеvеl οf risk. All the queries are addressed within 24 hours time. Different assets, indices, companies along with the buy/sell rates and the spread can be seen. Users of the UFX can also view 24 hours changes in the market price along with the 24 hours high and low market price. UFX scam claims that these fines were related to holdover issues from the past that they already addressed.

I confirm that my complaints have been satisfactorily resolved and I shall not be repeating them. I withdraw the comment and complaint that I made on 24th October 2019 and all complaints I have made against Reliantco Investments Limited, trading as UFX. I confirm htat my complaints have been satisfactorily resolved and I shall not be repeating them. Initially they make you think that you’re winning then you can see that your money disappears suddenly, they switch you to a professional account. The fact is that he wiped out all my savings and a couple of credit cards, with the water around my neck … They intended to do this hedge to threaten me if I didn’t deposit new money,my account will collapse.

Reasons for Using a Regulated Broker for Trading

It should be placed under commercial investigation. I have just lost an awful lot of money with UFX £1000s. On Friday 4th March my trading account had a low equity alert so my trading trainer phoned me to add more funds. I didn’t add more funds but lost almost all of my trading account. A great broker – been trading with them for quite a while, but I had never experienced any problems.

Their platform is simple and effective, mobile app works well. Besides that, support and account manager been informative and helpful. On waiting for days for my refund to roll in, I found out I was charged $39 and was denied of my profit.

UFX trading bonuses

They also offer an Islamic account and a professional account. This UFX review explores a highly reputable, well-regulated STP broker. UFX is a leader in the retail trading industry and offers its services to clients all over the world.

Most importantly, their trading platforms support mobile trading. There are no distinctly unique features at UFX besides the MassInsights service which was previously mentioned. This service may be useful for some traders, specifically those who are relatively new to trading. The absence of the MT4 trading platform and lack of support for automated trading solutions represent a critical oversight. Excessive trading fees and an unusual approach to account specification stand out as significant errors by the management team.

The minimum deposit for different account types:

This broker knows exactly what you need as a trader to increase your chance of making a profit. Trading Forex, CFD, Binary Options, and other financial instruments carries a high risk of loss and is not suitable for all investors. The information and videos are not an investment recommendation and serve to clarify the market mechanisms. The texts on this page are not an investment recommendation.

• In fact the representation was false and broker was in breach of the contract in that none of the investments made a return.
• UFX offers multiple trading platforms to take care of the trading needs of various traders.
• If you are actually looking to make money you need to deposit more than $500.
• Had make police report and complaint to local political party and had news conference.

Some offered commodities include natural gas, wheat, and Brent. UFX’s offerings are ideal for long-term investors and speculators. Online trading involves significant risk, and you may lose all of your invested capital. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only. To start trading with UFX, first you need to sign up with UFX.

Account Fundamentals & Account Types

It’s the ideal tool to enable you to make well-informed decisions, ensuring an incredible trading experience. This platform also shows a financial events calendar with notifications for upcoming economic events. The stream also notifies you of important market updates and news as they occur to ensure you are up to date with the financial markets at all times. 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. UFX does not offer trading bonuses, but this is because they are not allowed to.

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. The Platinum account features a minimum deposit requirement of $10,000 and a minimum trading volume of $100,000.

Their commitment to providing high-quality customer support is the main reason they’ve been able to win many awards over the years. UFX offers reliable customer support from Monday to Friday, 24 hours a day. They provide customer support via phone and live chat. Customers can also reach them through web contact forms. 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.

UFX is owned and operated by Reliantco Investments Ltd and is licensed and regulated by CySEC. This also means it operates within the strict standards laid down in MiFID . UFX entered the online trading market in 2007, but didn’t receive its EU licence until 2011. While somewhat disappointing, educational materials are available practically everywhere online.

68.34% of retail traders operate accounts at a loss, slightly better than the average, and a positive performance. When it comes to the best trading platforms, UFX is above the industry standard. The broker offers two trading platforms, the in house UFX trading platform which is available as a desktop application and as a web-based trading platform and the popular MetaTrader 5.

The EUR/ufx broker, 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. No, UFX is not an automated trading robot but a leading online broker that is offering forex and CFD trading.

Also, despite telling me I had 3 months to hold my positions they closed my positions after 1 month without giving me any notice and lost me over $100 which is 33% of my money. They called me every day pestering me to up my initial deposit from $350 to $500. After being uncertain for about half a year I decided to invest my money and chose UFX platform. They call me 15 times a day even though they promised me not to call me again during each call. They constantly cold call me.calling me at early hours and different times of the day.

The https://forexhero.info/ webtrader 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. 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. The broker is also known to offer advanced trading tools and features such as MassInsight technology and Trading Central.

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. Bank wire withdrawals can take up to 3 business days to reach your account, while e-wallet can take up to 5 business days. Credit card withdrawals can take up to 10 business days.

UFX also provides Trading Central, an industry-leading provider of financial investigation, market studies, and investment research. Nonetheless, the broker offers mobile versions of both platforms. However, Paragonex can be accessed only through a web browser.

Their fines from CySEC are disconcerting, and one should be cautious of forex and CFD brokers in general. If you’ve lost money on your investments with UFX, it might be possible to recover some or all of your funds. 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. UFX is one of the most reputable online trading brokers we have today.

Spreads start at 2 pips for the EUR/USD currency. UFX offers both MetaTrader4 and the award-winning ParagonEx Web Trader. The ParagonEx trading platform was designed in-house, is recognized as the best in the market, and provides traders with all the advantages of MetaTrader in a very simple and intuitive way. UFX provides a mobile trading platform for the traders’ convenience to trade anytime.