UFX Trading Platform Exposed: Review and Tutorial of UFX Markets

UFXMarkets started its operations in 2007 and is owned by Reliantco Investments Ltd which is regulated by Cyprus Securities and Exchange Commission.

Please note that this review is NOT an endorsement of UFX and NOT a recommendation to trade with them. If you found value in watching this video, please like and share so we can do more!

Important Facts
• Regulation: UFX Bank was totally unregulated and was widely reported to be engaging in highly unethical (if not illegal) practices. At some point in 2011 UFX Bank renamed itself UFX Markets and became regulated in Cyprus under the authority of CySec. They later re-branded to just UFX. However, it has been reported that some of the alleged questionable practices which were occurring when the company was unregulated are still ongoing till this day.
• Instruments: Forex, Indices, Stocks and Commodities. All of the major currency pairs are available, plus some rare pairs such as EUR/RON, USD/MXN, and BitCoin. For stocks, UFX allow trading on some of the most popular blue chip and tech stocks, including Boeing, Nike, eBay and Tesla – about 190 individual shares in all.
• Leverage: Up to 400:1 [meaning a deposit of $400 can give you control of up to $200,000 in trading capital if you want to leverage yourself to the tilt]
• Minimum Deposit: $100 and the minimum trade size for micro account is $5000 (0.05 lots). However, we are told that in order to enjoy all essential services and receive a personal trading trainer [which you don’t really want!], the required minimum deposit is $500
• UFX offer clients the choice of two trading platforms, first the popular MT4 platform and also the more straightforward but simplistic ParagonEX Trader platform.

Advantages
• Free Demo Account
• Platform is quite user-friendly and website is well designed.

Disadvantages
• Limited Range of Shares
• Wide Spreads
• All trades are conducted in USD – so although you can deposit in Sterling for instance, this is still converted to USD for trading purposes. That’s how basic their platform is.
• No advanced orders functionality like trailing stops
• Reports of platform crashes / re-quotes and slippage.
• Scalping is strictly forbidden.

Overall, UFX fails to be competitive when it comes to spreads on its smaller size accounts. Many traders may also be wary of the firm due to the fact that the brokerage has a somewhat checkered regulatory record. There are also numerous negative reports regarding the company, so use at your own risk.

Comments

Sh Raza says:

this is a scam totally frad they ditect from my account 1152€ ,but now not refunding please carefull all persons

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