UFX is one of the industry’s top online financial trading brokers. Founded in 2007, the broker provides a powerful online trading platform which was developed by a dynamic team of experienced financial professionals, hedge fund managers, traders and technology experts. The firm is fully regulated and licensed with adherence to all applicable rules, laws and regulatory authorities. The platform provides you with access to a variety of tradable assets, including Forex, commodities, indices, stocks and ETFs.
UFX broker has also earned the respect of the financial trading industry worldwide. This includes even earning many esteemed industry awards. In 2016, the broker was named the Best Trading Platform as well as the Best Trader Loyalty Programme by FX Report Awards. That same year, the UK Forex Awards awarded the broker for having the Best Forex Trading Tools. The European’s Global Banking and Finance Awards gave UFX the title of FX Broker of the Year from 2013 to 2016, while also naming the firm Financial FX Director of the Year from 2014 to 2016. These awards prove that the firm is a legitimate broker with a solid trading platform which professional traders trust.
Also, UFX broker is known for having one of the best customer support teams in the industry. The representatives are always eager to help you with whatever questions you may have. The representatives are available 24 hours per day. Most traders report having a positive experience with the broker’s customer support.
There are various resources that the platform provides which help to enhance trading results. These resources provide valuable information and news regarding market-moving events. In addition, users will have access to advanced market analysis performed by highly trained financial market experts. A full economic calendar will help you map out future market events in order for you to design your trading plans accordingly.
Traders will find that UFX makes trading as convenient as possible. First, the software interface is user-friendly and easy to navigate. The trading platform is available for a web browser or even a mobile device, such as a smartphone. Also, if you prefer to utilize the MetaTrader software, the trading platform integrates perfectly with the latest MetaTrader application.
Let us take a look in more detail what UFX has to offer and if this broker should be your first choice when stepping into the online trading arena.
UFX Trust
Licensed in Vanuatu, UFX adheres to all the applicable rules and regulations of that country. The Vanuatu Financial Services Commission (VFSC) regulates the financial firm under license number 14581. Also, the broker adheres to all relevant international financial laws. Additionally, the firm is in full compliance with all international regulatory bodies which have legal jurisdiction over the firm’s business practices and activities. You will also be sure to be safe with the broker’s advanced security technology which has been expertly integrated with the platform. This will ensure the safety of your personal details and finances.
Rating – 9.5/10
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Education
The trading platform of UFX offers access to an extensive video library which provides a variety of educational resources. These resources will provide you with everything you need to be successful in the financial trading markets. The video tutorials will show you the basics of trading and even some more advanced material which could help even expert investors enhance their trading results.
Additionally, the broker has partnered with Trading Central, which is a top provider of quality financial research which will provide you with the news and analysis you need to achieve success in the financial trading markets. However, you will be required to deposit a minimum of $1,000 in order to access the Trading Central resources.
Rating – 8/10
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UFX Unique Features
UFX offers a variety of trading platforms to fit your individual needs and specific trading preferences. The broker’s Web Trader platform allows you to manage your trading account without having to download any type of software application. You will be able to view your market positions, execute trades, open positions and close positions with just a simple web browser and Internet connection.
The broker’s mobile platform offers you the option of being able to manage your account and trades while on-the-go. As an account holder with UFX, you will be able to trade with both Android and iOS devices. You can use the broker’s mobile app which you can download and install on your smart device. Alternatively, you can log in from your mobile device’s web-browser.
Investors who prefer to use the MetaTrader platform will be pleased to know that the broker provides MetaTrader 5 (MT5) integration capabilities. MT5 is the follow-up to the industry standard-setting MetaTrader 4 (MT4) from MetaQuotes. Choosing to make its platform integratable with MT5 allows UFX users to take advantage of the improvements made with the latest version of the MetaTrader software. Many other brokers still do not offer MT5 and some do not even offer any MetaTrader software integration at all. On the other hand, it would be nice if the broker offered both MT4 and MT5, since some people may still be used to the older MetaTrader platform.
Another unique feature which the trading platform offers is actually giving you cashback for every trade you make. Not many other brokers provide this type of bonus, which makes this quite an advantage for investors. Every market position opened will result in you receiving real cashback. All you have to do is just simply continue trading your preferred instruments.
Rating – 8/10
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UFX Commissions and Fees
One great feature about UFX is that the broker does not charge any trading fees or commissions, which means the execution of trades is free and there are no maintenance fees. Also, the broker does not charge any fees for money transfers, meaning it is completely free to deposit and withdraw funds from your trading account. However, the broker does charge a fee for inactive accounts. Any trading account which has been inactive for three months will incur a charge of $100. Additionally, UFX charges a rollover fee, which is a fee charged for maintaining an open position in the market overnight. The amount charged will vary depending upon the asset and is also subject to change.
Rating – 8/10
Customer Support
The UFX broker provides its clients with excellent customer service. The representatives are responsive and knowledgeable about the trading platform and the financial markets. You can easily contact the customer service team via phone through the many worldwide hotlines available with support options in multiple languages. Another option is to email the customer support team through the contact form on the website. Additionally, you can choose to contact the support services through the chat on the firm’s website. UFX users have 24-hour live support access.
Through an extensive search on the Internet, there were hardly any negative reviews which could be found regarding the customer service experience from traders utilizing the UFX trading platform. Most of the reviews on this aspect of the broker’s trading service were overwhelmingly positive. During our own user tests, we did not encounter any issues or negative experience when contacting the UFX customer support team.
Rating – 9.8/10
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UFX Investment Products
It is important when building a portfolio to have adequate diversification. This means you will need to have a wide choice of instruments available for investing. Traders using the broker’s trading platform will have access to a variety of asset markets to trade. These investment products include the following assets:
- Forex – This asset class refers to the market mechanisms used to exchange different fiat currencies. Some tradable currency pairs offered by the broker include major currency pairs, such as the EURUSD, USDJPY and AUDUSD. Some minor currency pairs available are the GBPAUD, EURJPY and EURCAD. There are even some exotic currency pairs available, such as the GBPINR, EURTRY and USDZAR.
- Commodities – The commodities market is where you buy and sell securities which have raw material assets as the underlying assets. The UFX trading platform includes commodities, such as gold, natural gas, oil, platinum and silver.
- Stocks – The stock market is the mechanism that traders use to purchase and sell shares of company stocks, which are securities which represent a portion of ownership of a company listed on a stock exchange. The trading platform provides access to many of the stocks for major companies such as JPMorgan Chase (JPM), Facebook (FB), IBM Corp (IBM) and Goldman Sachs (GS).
- ETFs – Investors registered with the UFX trading platform can buy and sell ETFs, which are funds which hold groups of securities or stocks which are designed to represent specified sectors of the economy. Some ETFs available are Oil Companies (USO), Energy Sector (XLE) and Technology Sector (SLK).
- Indices – The broker offers the trading of a variety of indices, which are groups of stocks which are generally used to monitor macroeconomic conditions. Traders are able to invest in a variety of indices including, CAC 40, DAX 40 and S&P 500.
Rating – 8.5/10
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User Experience
The UFX trading platform boasts an intuitively designed software interface which makes trading easy even for those without any experience or knowledge of trading. More experienced traders will appreciate the large variety of assets to choose from as well as the powerful technical indicators available. The trading platform provides investors with everything required to achieve success in the financial trading markets.
Registering for a new trading account on the platform is relatively easy and free of hassle. All you have to do is go to the homepage of the firm’s website. Here you will find the “Sign Up” button on the upper right-hand side of the screen. After clicking on that button, a registration form will pop up.
Here you will be asked to provide some routine personal information. This will include your first name, last name, email, country of residence and phone number. You will also be asked to create a new unique password. Your email will be used for your screen name when logging in. Both the username and password will be required to login to the platform and manage your account after it has been activated. After you have filled out the information requested on the registration form, just press “Continue” to submit the form. Your new trading account will be confirmed and activated within minutes. You will then be ready to start making trades and earning profits.
The platform is quite safe to store your funds since the broker has implemented the most advanced security technology available. This will ensure you are protected from any fraudulent activities. Therefore, you will be able to concentrate on making profits without having to worry about anything unexpected occurring.
Users have access to a comprehensive economic calendar which keeps track of what important economic releases and political events are on the horizon which may affect market fluctuations. The Trading Central feature provides investors with expert market analysis as well as the latest in market news. In this way, you can stay on top of what is happening while also strategizing, in an effective and logical way, about the future.
The customer service team at UFX is one of the best in the industry. It is obvious that the team has gone through extensive training. This is apparent in the high level of responsiveness. Also, the support team is quite knowledgeable about the ins and outs of the platform. They are always ready to find you solutions to your issues and answers to your questions.
On the other hand, one aspect which some traders may find to be a disadvantage is that there are minimum trading requirements. This means you are required to execute a specific amount of trading activity. This required amount of trading will vary in accordance with what level trading account you have.
Rating – 9/10
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UFX Research and Insight
Investors will have access to a variety of different ways to research and analyze the markets. The platform provides an economic calendar which allows you to plan out your trades with upcoming economic releases in mind. This can help traders to avoid unnecessary losses by using proper risk management planning.
Also, as an account holder with the UFX broker, you will be able to access the Trading Central section of the platform. This feature allows traders to consult expert market analysis from seasoned professionals. Additionally, all of the latest news releases which could affect market prices will be available through this feature.
The MassInsights feature provides live streaming aggregate data on trader behavior. You can also use this feature to keep track of market news and events as well as investor sentiment. This information can be essential in determining the market sentiment which could affect future fluctuations in price.
Rating – 8/10
Pros and Cons
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Conclusion
Overall, UFX provides investors with a solid trading platform with powerful features which can enhance trading results. The platform is user-friendly which means that even beginner traders can use the platform to trade profitably. This is due to the design of the software interface which the broker has wisely made to be as intuitive as possible.
The firm seems to have taken all necessary precautions to ensure the safety and security of traders on the broker’s platform. UFX is fully regulated by applicable laws while also adhering to the authority of appropriate regulatory agencies. Also, the broker has strictly implemented Anti-Money Laundering (AML) and Know-Your-Customer (KYC) policies and guidelines. Therefore, you can rest assured that your funds will be safe along with your personal information and financial data.
Traders will appreciate the wide array of tradable assets to choose from on the broker’s platform. Also, the platform provides advanced features including powerful technical indicators. The market analysis resources and news feed features are advantageous. Also, the broker provides a comprehensive video library where you can find basic information to educate yourself on trading basics. You will also find some more advanced material that more experienced traders may find beneficial.
In total, the UFX broker provides an excellent platform with what you would need to become a successful trader in the financial markets. The firm is a legitimate broker that has built a powerful platform. The cashback bonus program the broker offers is quite a unique and attractive feature which investors could greatly benefit from. Also, the numerous awards the broker has won from a variety of industry groups definitely adds to the legitimacy of the platform. Those looking for a way to access the financial markets should strongly consider registering with UFX.
Overall Rating – 8.6/10