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UFX Broker Review
Updated: August 20, 2024
Last Updated On August 20, 2024
3.70
/ 5
| 🏦 Min. Deposit | USD 100 |
| 🛡️ Regulated By | CySEC |
| 💵 Trading Cost | USD 20 |
| ⚖️ Max. Leverage | 30:1 |
| 💹 Copy Trading | No |
| 🖥️ Platforms | MT5 |
| 💱 Instruments | Forex, Commodities, ETFs, Metals, Stock CFDs, WTIs |
Most retail CFD accounts lose money. Your capital is at risk.Last Updated On August 20, 2024
75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website, you agree to our Terms of Service.
Our verdict on UFX
UFX is a Cypriot market maker broker, founded in 2007 and regulated by CySEC. With five different accounts types, not including the swap-free option, and support for MT5 as well as the proprietary UFX platform, it’s a shame that trading conditions are not better here.
Spreads are wide, even on the more expensive accounts, and on the Micro Account (100 USD minimum deposit) you can expect a fixed spread of 4 pips on the EUR/USD. Forex education is also lacking, as well as any kind of in-house market research, though UFX do offer both Trading Central and it’s own MassInsights trend and volatility tool.
| 🏦 Min. Deposit | USD 100 |
| 🛡️ Regulated By | CySEC |
| 💵 Trading Cost | USD 20 |
| ⚖️ Max. Leverage | 30:1 |
| 💹 Copy Trading | No |
| 🖥️ Platforms | MT5 |
| 💱 Instruments | Forex, Commodities, ETFs, Metals, Stock CFDs, WTIs |
Overall Summary
Deposit & Withdrawal Methods
Supported Platforms for UFX
Account Information
Trading Conditions
Company Details
Deposit & Withdrawal Methods
Supported Platforms for UFX
Pros
- Great platform choice
- Fast and free withdrawals
- Good range of accounts
Cons
- Wide spreads
- Limited education
- Limited market analysis
Editorial Team
Chris Cammack
Head of Content
Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.
Alison Heyerdahl
Senior Financial Writer
Alison joined the team as a writer in 2021. She is the Senior Editor for FXScouts. She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, “Let’s Talk Forex,” alongside her colleague, Chris, and has produced over 100 Forex educational videos for the FXScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 100 Forex brokers.
Ida Hermansen
Financial Writer
Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.
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Most retail CFD accounts lose money. Your capital is at risk.
3.70
/ 5
Data provided by FxScouts
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