This is a forex broker providing various financial instruments including FX currency pairs, and other CFDs. The company is regulated by the Financial Services Commission. You are going to learn more details from this review.
UFX offers its own trading platform with multiple features. It allows traders not only to place their orders but also to monitor the markets, to analyze the price to read the news and many other useful things to do.
In order to stay mobile, UFX clients may benefit from the special mobile application. It is available for the most popular mobile platforms like iOS and Android.
There is also a classic Metatrader 5 trading platform which is suitable for both professional and novice traders. There is no need to enumerate the advantages of this trading terminal as almost all traders have seen it at least once in their life.
UFX broker offers several types of accounts to meet all clients’ needs. Those who want to start and try trading can choose basic mini account type by depositing the only 100USD. Unfortunately, they will be restricted from using Metatrader 5 as this platform is available for those who invest from 5 000USD. There is also an Islamic account starting from 10 000 USD.
In order to deposit/withdraw your funds, you can use banking cards, wire transfer and several electronic payment methods available on the official website.
UFX offers no educational materials to the clients. This is sad as the majority of traders need something to start with. There are even no videos on how their platform works. Another sad thing about the broker.
As for the market research, there are daily analysis reviews providing you with the opportunity to look inside the technical picture of various assets. Unluckily they are brief but include some useful information, i.e. support and resistance areas, pivot points and trading targets.
There are no demo opportunities for the clients which is another bad part of the broker. You can’t try your skills and has to invest money and risk them even if you don’t have skills yet. The lack of bonuses is another minus of the company.
Once you have reached the official website you will be surprised by the lack of the main menu, which is hidden behind a special button. This is not a good idea as you need to do more steps to reach the desired sections. It seems that the website was designed for mobile devices first. As for the user interface, it is easy and friendly.
UFX offers the following benefits to the clients:
As for the disadvantages they are the following:
If you look through testimonials you can see that they are almost all negative. Traders accuse the company of being a scam. They say the support is doing nothing to help clients. Some traders say they have lost more than 10 000 USD there. If you have dealt with UFX already, please, leave your comments here below the review.
UFX offers multiple features to the clients but the company has a bad reputation among traders. There is no demo to try your skills.