UFX CFD Broker Review 93

UFX strives to be the best in online trading. It offers a wide-ranging set of features for traders across the spectrum. Among others, tight spreads and multiple benefits are available with a personal trading consultant available to help traders boost their financial portfolio. Strict compliance with regulatory standards and SSL technology ensures that traders get the consummate experience at all times.

Overview/Background

UFX is geared towards providing traders with the most comprehensive range of financial assets and a user-friendly platform. Each of the accounts provided by this brokerage is tailored to specific types of traders. They all feature multiple benefits and tight spreads. There are no surprises in store, and the fixed spreads are your guarantee of credibility. All funds are safe and secure and all trading is subject to the regulatory constraints of the Cyprus Securities and Exchange Commission (CySEC). The company (Reliantco Investments Ltd) sports the following licence number: 127/10. All trader accounts are kept separate from the business account in what is known as a segregated account.

UFX has won critical acclaim from some of the top industry watchdogs and authorities. These include the following awards: The European Financial FX Director of the Year Award in 2014 and 2015. The European FX Broker of the Year Award in 2014 and 2015, the UK Forex Winner 2015 for Best Value Forex Broker and the UK Forex award for Winner of Best Forex Customer Service. With such a distinguished reputation, UFX has been able to cut a swathe with a wide range of clients in the United Kingdom. There are 4 types of trading platforms available, and the range of assets encompass CFD trading on commodities, stocks, ETFs, currencies, indices and more with substantial leverage, and variable spreads.

Account types

UFX features 5 types of accounts. Each of them is different in terms of minimum deposits, minimum trading volumes, and other available features. The accounts include the following options:

  • Mini accounts with a minimum deposit of $500 and a minimum trading volume of $5,000
  • Standard accounts with a minimum deposit of $1,000 and a minimum trading volume of $10,000
  • Gold accounts with a minimum deposit of $5,000 and a minimum trading volume of $50,000
  • Platinum accounts with a minimum deposit of $10,000 and a minimum trading volume of $100,000
  • Islamic accounts with a minimum deposit of $1,000 and a minimum trading volume of $10,000.

There are of course unique features available to each of these account types. For example, daily market reviews, a video library, daily recommendations, 24-hour live support and personal trading trainers are available to all account holders. Only Standard, Gold and Platinum accounts have access to VIP trading support and exclusive updates. Gold and Platinum accounts can access SMS trading alerts and the MetaTrader 4 platform.

Trading platform/software

The trading platforms at UFX are highly integrated and engaging. You can see all new trades that are opened, and the percentage buy or sell probability associated with each currency pair, commodity, index or stock. The financial assets are listed in a grid format on the screen with things like the EUR/USD, gold, crude oil, USD/JPY, GBP/USD, Apple, DAX 30, Facebook and others available in a live stream display for you. There are 4 unique types of trading platforms including ParagonEx Web Trader 4.0, UFX Trader App for Mobile (iOS and Android), and MetaTrader MT4.

The benefits of each of these trading platforms are listed below:

  • ParagonEx Web Trader 4.0 – this can be accessed through your Internet browser with zero download. It is fully compatible with all elements of UFX trading.
  • UFX Trader App – is ideally suited to Android and iOS users. You can download the app at the App Store or the Google Play Store.
  • MetaTrader (MT4) – this is the gold standard of trading platforms and it allows for sophisticated technical analysis, automated trades, highly advanced charting facilities and many other tools. This is only available to premium account holders at UFX.

Deposit options

You can fund your account at UFX with multiple deposit options. Each of these is guaranteed safe and secure. The available options include Bitcoin (BTC), PaySafeCard, POLi, WebMoney, Qiwi, CashU, China UnionPay (CUP), Neosurf, iDEAL, GiroPay, ELV, Sofort, Neteller, Skrill, Local Bank Transfer, Diners Club International, Maestro, Visa Electron, Visa, and MasterCard. These funding methods offer safe and easy deposit options for your account. Convenience, credibility and security are assured.

Markets

UFX offers a full spread of options on commodities, stocks, ETFs, currencies, indices and CFDs.

Indices and CFDs
These include the DAX 30, CAC 40, NASDAQ composite index, Nikkei 225, the S&P 500 index, the Dow Jones Industrial Average and the like. Trading hours are listed in Greenwich Mean Time (GMT) and typically run from Monday through Friday, or from Sunday through Friday depending on the individual markets. Leverage is listed at 1:50 and the spread ranges from 50 pips all the way to 2000 pips.

Stocks
Equities include hundreds of popular international stocks such as Adidas, Airbus, Alibaba, Amazon, AT&T, BASF, Boeing, Chevron, Colgate-Palmolive, CVS health, Deutsche Bank, easyJet, and many others. Leverage is low on stocks, and the spreads range from a few pips to several dozen pips, or several hundred pips.

Currency pairs
These include major, minor and exotic currency pairs. Popular options include AUD/USD, EUR/CAD, EUR/NZD, GBP/CAD, GBP/AUD, GBP/JPY, USD/CNY and many more. The leverage is high on currencies, going as high as 1:400, or as low as 1:50 on the CAD/PLN pair. The spread will range dramatically depending on the popularity of the currency pair in question.

Commodities
Commodities include silver, corn, platinum F, crude oil, Palladium, natural gas and gold. Leverage can range from 1:50 all the way through 1:400 on commodities like gold and crude oil. The spreads on commodities can go from as low as 5 and crude oil to as high as 550 on silver.

ETFs
Exchange Traded Funds (ETFs) come in many different forms at UFX. They include QQQ, SPY, XLF, XLE and XLV. These funds can be traded during regular business hours and they can be purchased on margin and with limit orders.

Bonuses
UFX offers loyalty rewards to regular traders. Things like cashback are available on your real-money trades. There are also various competitions taking place to reward traders for their patronage.

Customer Support

Clients can contact customer support via chat by introducing themselves and adding a phone number and message. Other support options include telephone numbers for a wide range of countries around the world such as Romania, Turkey, Russia, UK, the Emirates, Cyprus, Indonesia, Hungary, Finland and Norway. You can also send a text message via Whatsapp to the following number: +44 (7700) 021284. Support representatives are helpful and highly responsive.

Safety

All client accounts are guaranteed safe and secure, courtesy of full licensing and regulation with CySEC (Cyprus Securities and Exchange Commission). UFX is also allowed to passport its services to the EU via MiFID. UFX is safeguarded via SSL security systems (secure socket layer) for all banking and personal information. The company was established back in 2007 and has gained tremendous credibility with a large and growing trader base.

Ease-of-use

The design and layout of UFX is intuitive and user-friendly. You can use drop-down menus to access things like the trading platform, accounts, events calendar, promotions, funding, assets, partnership and business information. Signing up is relatively easy. You simply enter your email, telephone number and input a password. Thanks to Mass Insights technology, it is possible to see an aggregation of all trades in real time. Plus, the rewards system offers cashback on all trades. Live tickers provide real-time data on asset price movements. The interactive nature of this social trading platform is its most redeeming feature.

Final thoughts

For traders looking for broad access to the markets, UFX is a winner. There are multiple trading platforms for mobile and desktop-based trading. Stocks, commodities, indices, currency pairs and ETFs are available. All in all, there are hundreds of financial instruments to trade with wide-ranging spreads (generally tight spreads) and solid leverage. Whether you’re an amateur or a professional trader, this UK-based platform certainly makes a strong case for CFD trading.

Pros

  • Fully regulated by the Cyprus Securities and Exchange Commission
  • Wide range of CFD trading options including stocks, commodities, indices, currency pairs and ETFs
  • Multiple account types with unique benefits for traders

Cons

  • No sign-up bonus
  • No apparent demo trading platform
UFX Overview
Website: www.ufx.com
Regulation: CySEC and MiFID
Assets offered: CFDs, ETFs, Forex, Indices, Shares, Commodities
Minimum Deposit: $100
Deposit Options