UFX experience with forex trading

UFX Fraud or SeriousWhoever wants to gain UFX Forex experience must make a minimum deposit of 500 euros. In return, investors can invest in numerous currency pairs. In addition, a demo account with virtual credit is available for an unlimited time. This allows investors to trade UFX Forex without risking their own capital. In addition to numerous further training offers, a loyalty program is one of the special services of the Forex broker. Due to the regulation of the Cypriot supervisory authorities, traders in Forex trading have an additional legal basis to be able to trade in a secure environment.

5 arguments for opening an account with UFX
CySEC-regulated Forex Broker

  • Over 40 currency pairs available for trading
  • Extensive loyalty program
  • Different account models from 100 USD deposit
  • Demo account available indefinitely

1 – seat and regulation: CySEC regulated Forex broker

Icon RegulierungUFX was founded in 2007. Since then, clients can gain UFX Forex experience in a regulated environment. The company is based in Cyprus and is regulated by the Cyprus Financial Supervisory Authority. Thus, at least the legal framework for Forex trading is established.

UFX serious or fraud: Deposit protection up to 20,000 Euro

The UFX experiences show that the deposits per customer up to a height of 20.000 euro are secured by the Cyprus deposit safety device fund ICF. In addition, the broker’s own funds are kept separate from the customers’ funds.

Transparent presentation of regulatory details

A glance at the UFX website shows that all details of the regulation are presented transparently and accessible to clients. For example, there is a list of the individual regulatory authorities in the various countries. To see this overview, interested parties do not necessarily have to be registered or logged in. As can be seen in the Forex Broker comparison, there is not always so much openness in dealing with regulatory details. UFX is a positive example here.

UFX is regulated by the Cypriot Financial Supervisory Authority, as the broker is headquartered in Limassol. In addition, it holds licenses from numerous other authorities in the various countries. The deposits are secured up to 20,000 Euro/customer. Furthermore, Forex Broker operates with segregation: the separate storage of client funds and broker’s own funds.

2 – trading offer on UFX in test: over 45 currency pairs for trading

The trading offer at UFX is extremely diverse. Traders can gain UFX Forex experience with more than 40 currency pairs. These include not only the majors, but also numerous minors (EUR/INR, EUR/CZK or EUR AUD). Traders who wish to trade UFX Forex while trading EUR/INR have limited trading hours. The currency pair is offered Monday through Friday from 3:35 to 15:00. Similar restrictions apply to the following currency pairs:

  • EUR/PLN: 6:45 am to 14:45 pm Monday through Friday
  • EUR/RON: 6:45 am to 2:45 pm Monday to Friday
  • EUR/TRY: 5:45 am to 6:00 pm Monday to Friday

The UFX Forex test report shows that the range of Minors is significantly larger than that of many other Forex brokers. Depending on the currency pair you choose, the leverage and spread varies. At most, investors can trade with a leverage of 1:30 at UFX Forex.

UFX Forex trading: alternative investments

In addition to trading on the foreign exchange market, numerous other derivatives are offered. These include commodities (gold, oil, silver and natural gas), indices, shares, ETFs and crypto currencies. With this extensive offer the broker presents itself for many investors as an interesting investment opportunity. Traders can also invest or diversify their investments away from the foreign exchange market.

UFX offers in the Forex broker comparison an enormous number of tradable Majors and Minors. There are over 40 currency pairs to choose from, which are traded with a maximum leverage of 1:30. Forex trading is supplemented by derivatives such as securities, ETFs, indices or commodities.

3 – trading conditions and minimum deposit:

The trading conditions differ depending on the selected derivative and account model. A total of six trading accounts are available, which can be opened between USD 100 and USD 10,000. The micro account is available with a minimum deposit of 100 USD and a minimum trading volume of 250 USD.

Those who want to gain experience with their own capital UFX Forex can trade many currency pairs with a maximum leverage of 1:30. However, there are currencies that are only traded with a maximum leverage of 1:20. These include USD/RUB, USD/SGD or EUR/NZD. The spreads are also variable. They range from 4 pips (AUD/USD) to 750 pips (EUR/CZK). EUR/USD is offered with a maximum leverage of 1:30 and a spread of 3 pips.

UFX experience with trading conditions: Leverage up to 1:30

In the UFX Forex test report we also deal with the further conditions for trading. Commodities can be traded with a maximum leverage of 1:20. Here the spreads are also variable, they are for example 7 pips (oil) or 700 pips (silver). Indices are offered with a maximum leverage of 1:20 and maximum spreads of 550 pips (Dow Jones). Those who want to invest in securities can leverage with a maximum of 1:5. The same applies to ETFs. Crypto currencies are leveraged with maximum 1:2 and also here the spreads vary enormously (for example 40,000 pips on Bitcoin).

The trading conditions vary greatly. Currency pairs are offered with a maximum leverage of 1:30 and variable spreads up to 750 pips. For the other derivatives, the leverage varies between 1:2 and a maximum of 1:20.

4 – trading platform and mobile trading: multiple platforms for traders

Icon platform investors can use the trading app to gain mobile UFX forex experience. This is available for free download from either the Apple or Google Play Store. This app is based on the renowned Web Trader platform. The Web Trader is also available for use on the PC.

ParagonEx Web Trader 4.0

This platform is easily accessible via the web browser and no download is required. Based on the previous version, ParagonEx Web Trader 4.0 is much faster and offers new features. These include additional tools and greater ease of use.

MT4

As the UFX experience shows, the Forex broker also provides one of the most popular trading platforms. This enables automated trading and technical analysis. Further trading tools round off the offer. Whoever wants to use the Meta Trader must first download it. If we look at the Forex Broker Comparison, we can see This is also common practice with other providers.

MassInsights™ technology

In the test we were able to gain special UFX experience with a broker’s own offer. The MassInsights™ technology offers a combination of livestream and trading technology. Traders can follow current market events and the behavior of other traders live and possibly adjust their trading. Key elements of the livestream are: Trending, trend reversal, volatility detected, volume growth.

Several trading platforms are available to investors. These include a mobile application, the MT4 and a new technology and broker’s own development: MassInsights™.

5 – account opening and bonus offers: Cashback and trading competitions

Opening an account is very easy online. A total of six different account models are available, which require variable minimum deposits:

  • Micro account: Minimum deposit 100 USD, minimum trading volume 250 USD
  • Mini Account: Minimum deposit 500 USD, minimum trading volume 5,000 USD
  • Standard account: Minimum deposit 1,000 USD, minimum trading volume 10,000 USD
  • Gold Account: Minimum deposit 5,000 USD, minimum trading volume 50,000 USD
  • Platinum Account: Minimum deposit 10,000 USD, minimum trading volume 100,000 USD
  • Traders can even open an Islamic account if they wish. The conditions are the same as for the Platinum account.

Cashback as a special loyalty program

UFX serious or fraud? UFX offers the only loyalty program in online trading. For this, traders must register for UFX rewards and then receive cashback as a reward. The registration also works very conveniently online via the trader’s own account.

Trading contests for traders

The Forex Broker offers another service in the form of various trading competitions. These contests are limited in time with variable profits. Who estimates for example closing prices of gold or oil correctly, gets a vehicle as a gift. Such a competition was held from May to June 2014 and trading competitions of a similar nature are held alternately.

When opening an account, traders can choose from six different account models. The micro account is suitable for trading entry because it has a minimum deposit of only 100 USD and a minimum trading volume of 250 USD. The highest minimum deposit is required for the Platinum account with 10,000 USD. Traders can also participate in a special cashback loyalty program and numerous trading competitions.

Those who want to gain experience with their own capital UFX Forex can trade many currency pairs with a maximum leverage of 1:30. However, there are currencies that are only traded with a maximum leverage of 1:20. These include USD/RUB, USD/SGD or EUR/NZD. The spreads are also variable. They range from 4 pips (AUD/USD) to 750 pips (EUR/CZK). EUR/USD is offered with a maximum leverage of 1:30 and a spread of 3 pips.

UFX experience with trading conditions: Leverage up to 1:30

In the UFX Forex test report we also deal with the further conditions for trading. Commodities can be traded with a maximum leverage of 1:20. Here the spreads are also variable, they are for example 7 pips (oil) or 700 pips (silver). Indices are offered with a maximum leverage of 1:20 and maximum spreads of 550 pips (Dow Jones). Those who want to invest in securities can leverage with a maximum of 1:5. The same applies to ETFs. Crypto currencies are leveraged with maximum 1:2 and also here the spreads vary enormously (for example 40,000 pips on Bitcoin).

The trading conditions vary greatly. Currency pairs are offered with a maximum leverage of 1:30 and variable spreads up to 750 pips. For the other derivatives, the leverage varies between 1:2 and a maximum of 1:20.

4 – trading platform and mobile trading: multiple platforms for traders

Icon platform investors can use the trading app to gain mobile UFX forex experience. This is available for free download from either the Apple or Google Play Store. This app is based on the renowned Web Trader platform. The Web Trader is also available for use on the PC.

ParagonEx Web Trader 4.0

This platform is easily accessible via the web browser and no download is required. Based on the previous version, ParagonEx Web Trader 4.0 is much faster and offers new features. These include additional tools and greater ease of use.

MT4

As the UFX experience shows, the Forex broker also provides one of the most popular trading platforms. This enables automated trading and technical analysis. Further trading tools round off the offer. Whoever wants to use the Meta Trader must first download it. If we look at the Forex Broker Comparison, we can see This is also common practice with other providers.

MassInsights™ technology

In the test we were able to gain special UFX experience with a broker’s own offer. The MassInsights™ technology offers a combination of livestream and trading technology. Traders can follow current market events and the behavior of other traders live and possibly adjust their trading. Key elements of the livestream are: Trending, trend reversal, volatility detected, volume growth.

Several trading platforms are available to investors. These include a mobile application, the MT4 and a new technology and broker’s own development: MassInsights™.

5 – account opening and bonus offers: Cashback and trading competitions

Opening an account is very easy online. A total of six different account models are available, which require variable minimum deposits:

  • Micro account: Minimum deposit 100 USD, minimum trading volume 250 USD
  • Mini Account: Minimum deposit 500 USD, minimum trading volume 5,000 USD
  • Standard account: Minimum deposit 1,000 USD, minimum trading volume 10,000 USD
  • Gold Account: Minimum deposit 5,000 USD, minimum trading volume 50,000 USD
  • Platinum Account: Minimum deposit 10,000 USD, minimum trading volume 100,000 USD
  • Traders can even open an Islamic account if they wish. The conditions are the same as for the Platinum account.

Cashback as a special loyalty program

UFX serious or fraud? UFX offers the only loyalty program in online trading. For this, traders must register for UFX rewards and then receive cashback as a reward. The registration also works very conveniently online via the trader’s own account.

Trading contests for traders

The Forex Broker offers another service in the form of various trading competitions. These contests are limited in time with variable profits. Who estimates for example closing prices of gold or oil correctly, gets a vehicle as a gift. Such a competition was held from May to June 2014 and trading competitions of a similar nature are held alternately.

When opening an account, traders can choose from six different account models. The micro account is suitable for trading entry because it has a minimum deposit of only 100 USD and a minimum trading volume of 250 USD. The highest minimum deposit is required for the Platinum account with 10,000 USD. Traders can also participate in a special cashback loyalty program and numerous trading competitions.

Payouts take up to ten business days

The winnings are paid out either by credit card, bank transfer or electronic purse. Traders should note that the payout must be made through the same method by which the deposit was made. The minimum payout amount is 25 USD. Due to currency conversion, additional costs may be incurred by the investors. However, these fees are not charged and settled by the Forex broker, but by the payment service provider. Depending on the chosen payment method, processing may take up to ten business days. Experience has shown that the fastest way to withdraw funds is by using electronic purses or credit cards, and often takes only one or two business days.

Identification required before payout

Before traders can even withdraw their winnings, verification is required. To do this, traders must prove their identity and send a copy of a valid identification document to the Forex broker.

There are numerous methods of deposit and withdrawal. These include bank wire transfer, credit card, electronic wallets, etc. The minimum deposit is 500 USD, and winnings are only paid out from 25 USD.

9 -seriousness: traders should have their own UFX Forex experience

Icon Contact To evaluate the seriousness of a Forex broker, various criteria should be consulted. We have done the test and based on the offer and the information provided, we cannot detect any fraudulent intentions. However, experience shows that investors always evaluate seriousness individually. For some traders, a prestigious license is important, while others would like a comprehensive bonus offer or training program.

Facts Check at UFX

Based on our UFX Forex experience, we do the fact-check and determine that the Forex broker has a valid license. Thus, at least legally the foundations for a serious trade are created. Most of the information about the trading offers is freely accessible and transparent for the clients. Some topics must be searched for first, but then the necessary information content can be found.

Price list transparent

Price lists and trading offers are transparently accessible, so that even unregistered investors can read them. In addition, six trading accounts are available, allowing traders to use a demo account in parallel. Similar offers are available from other Forex brokers, so we cannot detect any fraudulent intentions. Investors should, however, do the self-test to find out how smoothly, for example, payments are processed or customer support contact works.

Based on our individual UFX forex experience, we cannot detect any fraudulent actions at the broker. The legal basis for trading is provided by the valid license from CySEC. In order to be able to assess the seriousness, traders should register themselves and gain their own experience.

10 – Conclusion: UFX Forex experiences positive, especially with the number of currency pairs

UFX is considered a renowned provider for forex trading and provides its customers with over 40 currency pairs. This includes many minors in addition to majors. There is hardly any other Forex broker with a similarly large selection. The maximum leverage is 1:30, but it varies with the individual currency pairs. The spreads are also variable and start from 4 pips. Traders can choose from six different trading accounts, whereby the micro account is considered a trading entry with a minimum deposit of 500 USD. The Platinum account has the highest minimum deposit of 10,000 USD. At the same time, investors can use a free demo account with a virtual balance of 10,000 USD for an unlimited time. In addition to forex trading, other derivatives are offered. These include ETFs, securities, indices and crypto currencies. Here the leverage of the individual derivatives varies between 1:2 (crypto currencies) and 1:20. Traders who not only want to trade but also expand their knowledge after registering with the broker will find comparatively few possibilities. Although tutorials are available for the trading platforms, further tips or trading recommendations are missing. Here there is potential for improvement.

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