Is UFX the right broker for your trading needs? Does it provide trading platforms, tools, and conditions that suit your trading style? Can you trade safely with UFX? What are the strengths and weaknesses of this online trading broker? Keep reading this UFX review to find out the answers to all these questions and more.
UFX in brief
UFX’s headquarters is located in Cyprus. This CFD broker is owned by Reliantco Investments Limited, a company regulated by the Cyprus Securities and Exchange Commission. In addition to being licensed by CySEC, this broker also complies with MiFID rules and strict protocols for keeping its clients’ money safe.
UFX offers various account types with different support services, educational resources, and access to trading platforms. Of the six accounts, Gold and Platinum are the ones offering the most features. For instance, the popular MetaTrader 4 platform is available only to traders with Gold or Platinum accounts. MT4 is known to be a good fit for both new traders and seasoned veterans – it boasts some of the world’s most advanced features and functions but is very simple to use.
As a broker located and regulated in Cyprus and offering services throughout Europe, UFX needs to comply with European Securities and Markets Authority (ESMA) rules governing client categorization. You can be categorized as either a retail trader – to take advantage of the highest level of protection – or you can be considered a professional trader, which grants you more leverage but offers a lower level of protection.
UFX offers different trading platforms to different type of traders. Your choice of trading account determines which platforms you can use. UFX’s proprietary web-based trading platform is one of the simplest ways to enjoy online trading. On the other hand, if your trading strategy involves automatic trading or more advanced trading strategies, the MetaTrader 4 platform is also available. It’s perfect for those who need to use a wide range of technical indicators and sophisticated drawing tools.
One of the most unique features of UFX is its live market data feed, called MassInsights™. This groundbreaking technology is available on UFX’s own platforms to traders wanting to use the wisdom of the masses to get real-time market intelligence and actionable information as they decide when to open positions. This powerful tool shows the latest changes in market sentiment, providing alerts like Trending, Turnaround, Volume Growth, Turnaround, Going Up, Market News, and Economic Event.
How to contact UFX
There are several ways you can get in touch with the UFX team:
- The online form on the “Contact Us” page
- Live chat
- The phone number for your country (UFX supports traders in 21 countries)
Pros and Cons of UFX
|Pros (+)||Cons (-)|
Is UFX the right broker for you?
As a regulated STP (Straight-Through-Processing) broker, UFX offers a high degree of trader protection with no conflict of interest, as it acts only as a bridge between its clients’ orders and the financial companies providing liquidity.
UFX’s web-based trading platform is very simple and user-friendly for all types of investors. If you’re an experienced and professional trader, you might want to use another platform with more trading options, drawing tools and technical indicators – the MT4 platform, available to Gold and Platinum account holders. As UFX offers many different asset classes (commodities, ETFs, stocks, indices, and currencies), you can quickly build a diversified portfolio and invest in different markets, all in one place.
Compiling this UFX Review demonstrated to us that this broker is dedicated to its clients’ success by offering some of the best trading conditions, services, and platforms on the market.