UFX Review

Your capital is at risk
Broker Information
  • Company Name: UFX
  • Founded: 2007
  • Country: BVI
Broker Services
  • Regulators: -
  • Minimum Deposit: $100
  • Leverage: 1:400
  • US Clients: No
  • EURUSD Spread: 2-4 pips
Platform Info
  • Platform: Paragon EX, MetaTrader 4

Forextraders.com does not recommend UFX. To see our recommended brokers click here.

Forex trading has grown leaps and bounds over the past decade, but it is only with the addition of new competent brokers that traders can realize the benefits of increased competition. UFX.com was formed in 2007, and over the past few years, it has amassed an impressive list of favorable reviews and industry awards. Their website boasts a long list of these industry accreditations, from 2012 right through to 2015. Statements from pleased customers are prominently posted on its website, as well, a rarity when scanning other options available. These testimonials reveal a personal touch that is hard to find in today’s market and give evidence to the firm’s commitment: “We built a product that simplifies high performance trading but with a personal and modern touch.”

Your Personal Trading Consultant will work with you to develop a winning approach to the market. The firm has also garnered praise for its professionally designed website, overflowing with helpful information for every level of the trading community. They are obviously a firm that is committed to “offer focused and personalised services that makes trading make sense”, their stated philosophy. They have achieved their accolades, ironically, by offering an award-winning, web-based ParagonEx platform, a proprietary design, along with the standard and highly popular downloadable Metatrader4 system. They have supplemented these trading platforms with what they call “MassInsights™ Technology.” This very visually appealing system offers “a live stream of market events, news, and aggregated trader behaviour – showing you what matters NOW.”

The UFX management team has over 50 combined years of forex trading under their belts prior to launching UFX. Dennis de Jong, the firm’s Managing Director, is often quoted in the London financial press and has prepared a letter of introduction that details the objectives of the broker for the coming year, another rarity. The UFX asset list is nearly 250 items, including not only 51 currency pairs, but also commodities, indices, stocks, and ETFs. The firm’s corporate registration is in the British Virgin Islands, with primary offices in London and Limassol. Unfortunately, U.S. clients are not accepted at this time.

UFX Website

Features at UFX.com

Why trade with UFX.com? Here are a few reasons:

  • 100% real money (up to $5000) CashBack Promotion
  • Founded in 2007 by industry professionals eager to bring the personal touch to online retail trading;
  • Headquartered in BVI with offices in London and Limassol;
  • Client deposits safely segregated in Top-Tier UK banks;
  • Web-based proprietary trading platform, ParagonEx, for easy access from anywhere at anytime;
  • Metatrader4 also offered as a downloadable version;
  • Firm is an STP/ECN shop that matches orders with liquidity providers without a back-office dealing desk;
  • Competitive spreads that vary by account class and leverage up to 400:1;
  • Easy account registration with a variety of accounts, including a free demo account and Islamic accounts;
  • Account types vary by account balance:
    •  Mini – Minimum Deposit of $500 to $999
    •  Standard – Minimum deposit $1,000 to $4,999
    •  Gold – Minimum Deposit $5,000 to 9,999
    •  Platinum – Minimum Deposit $10,000
  • Frequent promotions and bonus opportunities, including cash back on trades;
  • Free forex coaching and a personal account manager come with each account, although more advanced support is provided for Platinum level;
  • Quick trade executions;
  • Extensive support materials, including daily video reviews, educational tutorials, a financial calendar, trading ideas, daily market review, news commentary, and analysis;
  • Several office locations, live chat, and 24 toll-free numbers for easy access to customer service.

Supported Platforms

The firm offers its own web-based trading platform, the award winning ParagonEx platform. For those traders that prefer the highly popular and downloadable Metatrader4 system, it is also supported. The latest technology has also been used to ensure the utmost security, privacy, integrity and, if necessary, recovery of data. Mobile trading is also supported. The entire back office is a STP (Straight Through Processing) shop with ECN connections for high-speed order executions at the best market price. No dealing desk ensures that UFX is always working on your behalf on trades.

Deposits and Withdrawals

Account registration is straightforward, with little documentation required. Deposits can be made by wire, credit and debit cards, and a variety of other local payment methods. Withdrawals will be processed over a 48-hour period, but documentation, in line with international legal requirements, must be submitted and validated. Withdrawals will typically be over the same route as used for deposit, except for services where an account does not exist. In these cases, funds will be transferred to an individual bank account, but it must be in the same name as on the account. International law does not permit third party transfers.

Customer Support

A personal account manager will help newcomers become traders quickly. Customer service can be accessed by a variety of methods, with 24 toll-free phone numbers to choose from, live chat, and email access covered for 24 hours a day. Your trading experience is enhanced by the extensive support materials provided by UFX on their website, including daily video reviews, educational tutorials, a financial calendar, trading ideas, daily market review, news commentary, and analysis. Every possible effort is made to make your trading session a rewarding one.

UFX.com – Conclusion

At UFX , you will encounter an ease of trading you’ve never experienced before. The professionals at the firm come from major banks, other forex brokerage companies, and from trading floors and dealing rooms. They know what they are doing. The wide variety of support provided, the glowing reviews of the company from independent sources, and the consistency with which this firm earns industry awards are all evidence demonstrating that UFX is leading the way in online trading. Experience the difference of working with veterans in the industry that really care about their customers and their trading experience, or as their website attests, “Trading makes sense at UFX with all the information you need at your fingertips.”

Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.

Forextraders.com does not recommend UFX. To see our recommended brokers click here.

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