What is UFX?
UFX is a globally-recognized broker in the Forex industry that provides financial trading services across Europe. The company was founded in 2007. However, it only became fully regulated by the International Trade Union Confederation (ITUC) in 2011.
UFX follows all the rules set by the Markets in Financial Instruments Directive (MiFID) and this broker was authorized by the Cyprus Securities and Exchange Commission (CySEC) to operate freely. UFX’s license number is 127/10. All UFX accounts are held in top tier banks from the trading industry. The company secures the money of its clients by putting it in segregated bank accounts for additional protection.
This online broker uses the Straight-Through-Processing business model (STP) while it offers excellent trading conditions for international traders.
UFX received numerous awards since its official appearance in 2011. The most recognizable awards from 2012, 2013, 2014, and 2015 are “Best Forex Promotion,” “Best Forex Affiliate Scheme,” and “Best Forex Customer Service” by the United Kingdom Forex Awards. This broker also received the “FX Broker of the Year,” “Financial FX Director of the Year,” and “Best Platform” given by the International Banking and Finance Awards in 2015.
One of the huge advantages of enlisting the services of this broker is that it provides its client personal coaching assistance. UFX’s dedicated trading consultants and professionals willingly share their secrets with every registered customer who requires some extra help.
UFX’s Trading Conditions
UFX has a wide variety of financial assets including fifty Foreign exchange (Forex) pairs, stocks, exchange-traded funds (ETFs), commodities, indices, futures, and bonds.
UFX’s spreads are relatively standard for any account type. Spreads on currencies start as little as two pips on EUR/USD. The lower boundary on indices are set to fifty pips and the other instruments have lower values of five to ten pips. However, all of the spreads are fixed.
UFX gives leverage of up to 1:400. This broker offers Micro, Mini, Standard, Gold, and Platinum accounts. Almost all of the accounts share similar features, but the Gold and Platinum account types enjoy additional benefits, such as trading alerts and enhanced platform trading.
This broker also provides demo profiles that are available for traders who want to do some test trading before actually using a real tradingaccount. UFX also offers Islamic accounts.
Traders should note that this online broker might charge a maintenance fee worth $50 once every six months if needed.
UFX’s Trading Platforms
This online brokerage company utilizes several trading platforms with various capabilities and purpose.
UFX offers MetaTrader 4 (MT4) as a trading software option. This trading platform is a well-known tool for traders worldwide. MT4’s desktop application is easy to download and install. It is equipped with numerous additional features and helpful trading strategies. MT4 is considered the best trading platform globally by the majority of traders.
UFX also provides a browser-based solution for its clients called ParagonEx Web Trader 4.0. According to this broker, ParagonEx is the most advanced web application platform in the trading industry today.
UFX also released its own platform called MassInsights Stream. It has a modern technology that combines the latest market events in real-time with aggregated trader behavior in one single feed. This unique approach allows the software to detect substantial trading activity on the spot and display a signal on the web. This trading platform has some additional benefits making it a complete and reliable solution for every UFX trader.
24/5 Customer Service
UFX’s 24/5 customer service is composed of representatives who are well trained, responsive, and very accommodating to different issues that a client could experience. Its support team is available through twenty local landlines, email, web form, and live chats.
UFX traders can also communicate with the broker through its social media channels like YouTube, Facebook, Twitter, and Google+. All UFX services are available to more than twenty-five languages.
UFX is a reliable and well-regulated FX and CFD broker that utilizes both its in-house web-based platform and the popular MetaTrader 4. This broker claims to have an STP model while it has fixed spreads. All UFX transaction methods are diverse and client’s funds are safe in segregated bank accounts. Moreover, this broker received multiple awards from different financial authorities for being a trusted Forex broker in the trading industry since 2007.