UFX Review 2018

UFX Review 2018

UFX Review 2018

If you’re thinking about entering the world of online forex trading, you are definitely at the right place. In this in-depth article, you will be able to find out everything you need to know about a leader in the field – UFX. UFX is a regulated broker which offers all kinds of privileges to its clients. It’s very easy to trade with them thanks to the huge number of interesting features their website provides. They have a variety of accounts you can choose between, and it doesn’t matter if you’re a beginner or a professional, you will find something for yourself easily. Besides that, they have developed their own trading technology with a special feature called MassInsight. A demo account where you can practice for free is also available, and as an added treat they also allow you to trade cryptocurrencies. If you want to find out more, just keep reading because our UFX review will show you all this and much more in great detail!

Registration and UFX account types

Back in the day, if you wanted to start trading, you had to invest a lot of time to handle bureaucracy, to collect all the papers needed and to get all the permits. But nowadays, if you want to be a serious forex trader, you don’t need to waste any time at all. With UFX, you can start trading in just a few minutes and it all starts with the process of registration.

Registration is just another name for filling out a very simple form with your basic information. In order to create your private account, UFX has to only know some elementary info about you as its client. Namely, you will have to enter your name, last name, the country you live in, your phone number and address. Once you’re done with the basics, you can fund your account, but more on that later.

One of the main characteristics of a good broker is that it offers various types of account to its clients. Logically, beginners and professionals won’t opt for the same account: while beginners like to enter the game slowly, with smaller risks and smaller amounts of money, experienced traders often seek more complex accounts that cost more but provide more options. With UFX accounts, you really don’t have to worry about finding the perfect package.

UFX Account Types

UFX Account Types

The first UFX account type is the Micro account. Only 100$ is needed to open it, but although this is the simplest account type, it still has some cool options that come along with it, such as access to the broker’s video library and daily market reviews. Then there is the Mini account, with the required deposit of 500$ which is also a great deal for beginners since it includes VIP support. The Standard account is currently the most popular one, although it requires 1000$ initially, probably because it provides exclusive updates, which can be quite helpful.

Besides that, there are two UFX account types created for experienced traders: Gold ($5,000) and Platinum ($10,000). These are the only two packages that provide access to MetaTrader 4, which makes them very attractive to trading professionals. As you know, MT4 is the most popular trading platform in the world, so if you’re really serious about trading, that’s where you want to do it. However, there are two other special UFX account types we haven’t mentioned yet, so continue to the next part of the review to learn about them, too.

UFX Islamic Account and Demo Account

Yes, apart from conventional UFX account types, there is a special option for traders from Islamic countries. This account is called the Islamic account and it requires a minimum deposit of $10,000. It allows traders to operate the business according to Sharia Law, meaning they can leave open trades overnight without incurring any interest. Apart from that, the Islamic account also offers its users daily recommendations, round-the-clock support, access to a the already mentioned video library and new market reviews every day. So, it’s pretty much like any other account type, only in accordance with the rules of Islam.

Besides that, there is one more account feature we’d like to highlight in our UFX review. It’s a feature that enables you to open an account that’s completely free and gives you access to a risk-free environment where you don’t have to invest real money. This feature is called UFX demo account and can become a really important tool, especially if you’re still a relatively inexperienced trader. Since UFX demo account gives you a completely realistic insight to the forex market and to dynamics of trading, you can prepare yourself for real trading that’s about to come. We sincerely advise you to take advantage of this opportunity because you don’t have to invest literally anything in order to practice. Only good can come out of trading with this account type which can also be accessed through the broker’s mobile app

So, now you have your account. How do you trade? Well, you have to have some funds in the balance first. We’ll discuss all about money transfers in the next few parts of our UFX review, so don’t go away.

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UFX Deposit

When discussing money transfers, it somehow feels logical to start with UFX deposits. They can be made in a variety of different ways, from credit cards (MasterCard, Visa, Visa Electron, Maestro and Diners) and standard bank transfers to online payment methods. The latter are extremely numerous, which is just one of the advantages of this process: Skrill, Neteller, ELV, Sofort, GiroPay and iDeal are just some of the choices you have. But one thing stands out when you look ad UFX deposit and that is the fact that you can complete the transfer by using Bitcoin. Not a lot of brokerage companies offer that, so cryptocurrency traders are sure to welcome this option wholeheartedly. There will be more talk about UFX cryptocurrencies later on in the article, but right now we have more ground to cover here.

Like we said in the account section, the minimum UFX deposit is 100$, which is perfectly acceptable. Still, we need to say that a deposit of 500$ is recommended if you want to fully enjoy everything on offer here. There are no deposit fees you need to worry about, and everything runs quickly and smoothly. Don’t forget to check for a bonus once you make your deposit – at the moment of writing this article, a pretty interesting competition was on its way, so there definitely are ways to get even more than you deposited. Just remember that a bonus may carry special conditions when it comes to withdrawing it, so always check the terms and conditions before you accept a deal. However, we need to move on. Since we’re on the subject, what can you expect when you want to withdraw, anyway? The next part of UFX review will show you.

UFX Funding Methods

UFX Funding Methods

UFX Withdrawal

UFX withdrawal is a safe and smooth process, but there are some things you need to be aware of. First, you can only utilize the same method you used when you were depositing funds. In other words, if you made your UFX deposit via credit card, that’s how you can withdraw your funds back. Nothing unusual here, but new traders will want to know this. You may need some patience when waiting for your UFX withdrawal to be processed, though, since this can take up to two weeks, depending on the method you’re using.

On the plus side, it is very important to emphasize that there are no withdrawal fees you need to worry about, although keep in mind that this only applies to the broker – your bank may not be so generous. Finally, the biggest advantage of UFX withdrawal: the minimum amount you need to transfer is only 25$, which is significantly lower than what most other brokers will ask from you. Casual traders and beginners will love this because it means they get to “play” with reasonably small investments before getting the hang of things here. A big plus for the company, no doubt about that.

But speaking of trading, what will you be investing on, anyway? Which platforms? Well, that’s something we’ll discuss in the next part of our UFX review.

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MassInsights Technology

UFX has developed their own unique trading technology called MassInsights. The logic behind it is quite simple – the broker collects information on many traders’ trades, on their open positions and the way they create trends. Usually this data has only been used by experts, managers and banks, but now you can take everything into your own hands. With MassInsights technology, you get a real insight to other traders’ behavior. You can see pretty much everything, even what assets are currently traded in your country. There are trending spots that show you trends on specific assets, while the Turnaround option tells you about changes in direction. The technology also has tools that signalize increased openings of a certain position or volume growth that’s bigger than usual.

So, the amount of data you get with this technology is extremely impressive. With it, you will be able to improve your analytical skills to a whole new level by targeting precisely the asset or the area that interests you the most. What about the trading environments, though? We’ll answer that next in our UFX review.

UFX MassInsights

UFX MassInsights

UFX Trading platforms

MassInsights technology can be used on ParagonEx Web Trader 4.0, this broker’s redesigned trading platform which is accessible via any browser, without any problems. This is the latest version of Web Trader, and we must say that we’re really pleased with the options it offers. A lot of customization is available, especially when it comes to the assets because you can set everything up so that your favorite assets are in front of you all the time. This allows you to keep an eye on all market movements. But what we liked the most is the Single Asset Page feature which provides you with absolutely everything you need to know about every single asset. You name it, and it’s there.

Of course, this is not the only UFX trading platform available to you. Like we said earlier, the legendary MetaTrader 4 is also present. We’ll mention only the most important features it has because a) the list of what the platform offers is way too long and b) we all pretty much know why MT4 is great by now. Let’s start with analytical tools which are especially important when it comes to short-term trades. You can use things like Fibonacci tools, the Gann indicators and many charts and other indicators meant to upgrade your power of prediction of price movements. Besides that, you can receive financial news that will keep you updated on every important regional and global political and economic event. Also, you can copy other traders’ moves via Trading signals.

As you can see, UFX trading platforms have a lot to offer. However, you don’t have to be confined to the desktop computer with them. See what this broker has to offer when it comes to mobile trading.

UFX Trading Platform

UFX Trading Platform

UFX App

No serious broker can survive on the market these days if they don’t have a mobile trading platform to go along with their offer. UFX app is one of the most impressive ones we have seen in a very long time, and we firmly believe you’ll enjoy using it. Here’s why.

Based on the aforementioned Web Trader trading platform, UFX app has MassInsigths Technology integrated into it. This means that you will be able to perform an extremely detailed analysis of the market with just a few taps. Very few apps can match the amount of information you get here. Combine that with great design, and you will get something very special which is also very easy to use.

But that’s not all! High speed of executions, loads of assets, charts and tools, along with complete control of all your positions make this piece of software something every serious trader should have. You can get your UFX app on both Google Play and the App Store completely free, so you can literally start trading from your mobile device in a matter of seconds. What can you trade? Loads of things! Are the trading conditions favorable? You have no idea! Stick around, an analysis of the assets is coming up.

UFX Mobile App

UFX Mobile App

UFX spreads and leverage

In this paragraph of our UFX review, we’ll say a thing or two about the assets you can trade here and the numbers concerning the trading conditions. To say that the selection of assets should be more than enough for every trader would be a huge understatement. More than 450 assets (most of which are stocks) are at your disposal, which is one of the largest selections we have ever seen. UFX also has a fair number of cryptocurrencies too, but there are also ETFs, commodities, indices and currency pairs, so there really isn’t anything anyone should find missing. A superb selection.

With this amount of assets, it’s quite obvious that trading conditions will vary. However, we can say that the overall picture is very good. UFX leverage, for example, will go up to 1:400, which is quite a lot above the industry’s average. This means you have more options and can control greater sums primarily when trading currency pairs and commodities. For the stocks, your UFX leverage will usually be 1:10 or 1:20, whereas indices and ETFs can go up to 1:50. All in all, the leverage here is really not bad, and it often transcends into nothing short of excellent.

UFX Spreads

UFX Spreads

Another important set of numbers are UFX spreads, so we need to look at them in this article, too. They will depend on the account type you have, with the Micro account having the largest and Platinum account having the smallest values. Do note that not even Islamic accounts can get around this – they will also have to take UFX spreads into consideration, although usually at the lowest possible rate. There is a separate page on the website where you can examine spreads for every asset, but we will just mention a few to give you an idea how things work. For example, UFX spreads for EUR/USD pair vary from 4 (Micro) to 2 pips (Islamic, Platinum and Gold accounts). Oil is between 11 and 5, Google stocks between 120 and 80, ETFs are usually somewhere around 50-60 pips, although they can range between 18 and 150 etc.

Given the sheer amount of assets, it would probably be best if you check things out for yourself. Feel free to talk to the support about this and don’t forget to ask them about custom UFX spreads, too. Also, if the market encounters some extreme conditions, standard spreads may not apply, but don’t worry – you will be notified of that and provided information about new spreads.

Since we mentioned the support, what do you say we give them some love in this UFX review, as well? That’s what the following part of the text will be about.

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UFX Customer Support and Regulation

Trading is not always easy. It has layers, it has complexity and it has depths. This is why your broker has to provide you with all the help you may need. This is usually done by assembling a special support team, which is exactly what UFX has done.

UFX support team is quick, dedicated and reliable and online 24 hours a day. You can very easily open a ticket with them by using a contact form on the company’s website, or you can simply call them on the phone. What is particularly impressive about this latter method is that they have phones for more than 20 different countries, from Italy to Singapore and China. In addition to that, you have also the option of using the live chat, as well as contacting UFX support via some of the social networks they use (the company has accounts on Twitter, Facebook, Google Plus and YouTube).

The quality of the support also confirms that this is a reliable brokerage. We have already analyzed the security system on this website in our UFX Scam Test, but we still have to mention that the company is fully regulated by CySEC. This regulatory body is responsible for monitoring the financial markets of the EU, so you can be quite certain that the company adheres to the very highest standards in the industry. From our own experience, UFX withdrawal and deposit also works perfectly, so there is nothing to worry about when it comes to your money, either. With that, we will wrap this review up, but before we go we have a short summary for you. Stay just a tiny bit longer.

UFX Contact

UFX Contact

Conclusion

Step by step, we have arrived at the end of our UFX review. What can we say about the company after all this? Well, they have many different account types, and the minimum amount one can start with is only $100 (the price of Micro Account), which is quite affordable. Apart from account packages for inexperienced traders and professionals, there are also the options of opening a demo account (for free practice) or an Islamic account (which complies with Sharia law). As for the platforms, you can choose between MetaTrader 4, which can now be considered a classic, and a UFX trading platform with MassInsights options. This special version of Web Trader enables you to collect loads of data and use it in your market analysis. As for the assets, besides regular assets (commodities, indices etc.) you can also trade cryptocurrencies, which is an opportunity you shouldn’t miss. The leverage is higher than the industry’s average, plus the spreads are quite acceptable, too.

All things considered, you won’t find a much better choice than this broker. UFX is a professional and technologically very advanced company which will offer you loads of opportunities to make the right investment. Open an account with them and begin your trading journey today!

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Recommended reading

Author's overall rating:
Author: Ben Prescott
Updated:

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