UFX

UFX is a dynamically developing Forex broker that has been successfully operating on the financial markets since 2007, today it is one of the recognized leaders in quality and reliability of services. The company tries to make trading a simple and understandable process for any user, regardless of trading experience. The main priority of its work is to ensure a secure environment, the safety of confidential information of users, for which it uses proven secure servers.

Still, is UFX a scam or a worthy company you can trust? We answer this question in a detailed review of the broker.

Terms of trade with UFX

UFX is not directly connected with the stock market, not consider itself an ordinary broker, positioning itself more as an intermediary performing operations to transfer orders from its users to a broker who can offer the most favorable execution conditions. The company has a motto that it always follows: with UFX, trading gains meaning.

The broker tries to provide information about working in financial markets in a language that is understandable to all; it explains the complex things in simple words, it allows the user to trade most efficiently. UFX has prepared all the necessary tools for customers to trade comfortably: 24-hour professional technical support and experienced mentors who are ready to share their experience, individual training programs, etc. These are favorable Forex trading conditions competitive in the market (fixed spreads, low entry threshold, quick execution of transactions, etc.). Wide range of assets is available for customers: currency, shares, CFD for futures, primary products and indices.

Loyalty program UFX Rewards is also interesting, its participants get cashback for each open position, the more trades the more profit. Technological process issue is on the first place. Traders are offered one of the best and fastest platforms ParagonEx platform, having a lot of reward and positive reviews. MetaTrader 4 popular with traders is available, you can work in the convenient mobile application UFX Trading. Unique MassInsights™ technology is of particular interest, which allows you to make decisions about transactions faster and more confidently thanks to the live broadcast of market events, the behavior of traders, etc.

Deposit and withdrawal

UFX offers the variety of deposit and withdrawal ways. To replenish the account one needs to sign up by broker, choose the convenient way for funds transfer and deposit a sum (minimal deposit is 100$) through:

• Bank transfer,
• Credit and debit cards MasterCard, Visa, Visa Electron, Maestro, Diners Club,
• Electronic systems (Skrill, Cashu, WebMoney, QIWI, Neteller, Sofort, ELV, Giropay, Neosurf, iDEAL, POLi etc.).

An account may be opened in several currencies at option. The withdrawal is possible just by the way chosen for deposit and for authorized traders only.

Complaints about UFX

UFX has a variety of online reviews, both positive and negative. Among the advantages, traders most often note the reliability and honesty of a broker with a humanly attitude to the user, favorable conditions, fixed spreads, accurate quotes, full service, high-quality platform of own production, tangible support from a personal trainer and analysts, a variety of tools, convenient ways to deposit the account.

There are plenty of negative reviews on the Internet, among which the greatest problems arise with the verification procedure, the work of the personal account, the terminal (requotes, freezes), the delay in withdrawing funds, the lack of communication with technical support, the incompetence of managers. At the same time, the company manager rarely works on the forums, trying to deal with the resulting negative.

UFX broker regulator

UFX is a member of Reliantco Investments Limited, regulated by Cyprus securities and exchange commission (CySEC, №127/10). The broker follows the MiFID Directive «About financial tools markets», running its business in Europe actively, is registered by the following regulating authorities:

• Czech Republic – Czech National Bank (CNB),
• Denmark – Financial supervision office Finanstilsynet,
• Estonia – Estonian financial supervision office,
• Finland – Finanssivalvonta, Financial supervision office of Finland (FIN-FSA),
• France – Bank of France,
• Malta – Financial supervision office of Malta (MFSA),
• Spain – National commission for financial markets (CNMV),
• UK – Financial conduct authority (FCA) etc.

More information about company’s licenses check on UFX official website.

• Check UFX license on CySEC
• Check UFX license on Regafi
• Check UFX license on FCA

Is UFX a scam?

UFX is one of the successful and experienced Forex brokers, which has demonstrated reliability and stability for 10 years of continuous development. The Internet provides a variety of different reviews about trading in the company: both positive (favorable trading conditions, platform quality, quick withdrawal of funds, etc.) and negative (problems with technical support, terminal failures, etc.). In many ways, this suggests that it has something to attract the user, but the service has errors. At the same time, a broker’s manager is working on the forums, trying to solve customer problems that have arisen, but he is not active.

The way the company has built its strategy of working with the user is of particular interest, where customer-oriented approach, the need for simple online trading, materials in a language that everyone understands («with UFX trade makes sense») are at the head, this is the key to success trading for any market player. High-quality tools are also required for performance; the broker offers only reliable software (ParagonEx platform, MetaTrader 4, UFX Trading mobile application, MassInsights™ technology), which received positive customer reviews and is able to make the work productive. Readiness to invest substantial funds in the development of the service is a serious step, which suggests that it is important for the company to take its position among competitors, to provide the best to the user, this distinguishes a real broker from a fraudster who has come to the market for a short time.

We note the official website of UFX as an advantage, which contains a lot of materials about the company, terminals, trading conditions, and analytics. The presence of 24-hours technical support, the possibility of individual training, working with a personal manager – this indicates a well-thought-out policy of working with the user, which is inaccessible to fraud sites. UFX is a licensed broker that has certification from several countries, information on this is available on the company’s website; we will consider this a positive point.

And yet, is it worth to consider UFX a scam? It seems no. 10 years of successful and active work in the financial markets proves this. To avoid problems with a broker, work correctly with your personal manager, clarifying with him the necessary information about the rules for using bonuses, features of trading, withdrawal procedures.

Conclusion

UFX Forex broker has successfully operated in the market for 10 years, providing its user with a unique service, security and favorable trading conditions, a large number of tools. The presence of positive customer reviews about the broker proves the correct development strategy. The company pays special attention to the client, professional technical support, makes trading training clear and simple, which contributes to the greatest performance.

We should note as well software getting positive reviews of users, which for sure makes company the leader among competitors. Despite enough volume of negative reviews in the Internet, manager of the company works on the forums inactively. One hopes that the company plans to change this situation, as well as continue its successful way in trading, increasing the number of its customers. It is worth noting that UFX has been successful for 10 years, it proves serious intentions and stability, so today we will not assess it as a fraudulent company. However, reviews of traders which we are waiting for this review can not only significantly change broker ratings, but also warn users against possible problems.