UFXMarkets

Editorial Rating:
3.13
Accept US Traders:
No

UFXMarkets Review

About UFXMarkets

In 2007, UFX Trade Limited registered in Belize as a trading and securities service. The company now operates UFXMarkets as an online forex broker. Belize regulates all trading and securities companies to protect against money laundering and other dishonest practices.

Though there are some reports of UFXMarkets scams, the company prides itself on offering exceptional customer service and a fair trading environment. This UFXMarkets review will deliver more in-depth information regarding the trading platform and accounts offered so that you can compare to other online platforms.

UFXMarkets Trading Specifics and Spread

UFXMarkets offers fixed spreads, but they can fluctuate when trading conditions are extreme or there is little activity on the world market. Spreads also differ between account types. The initial standard spread for GBP/USD trades is 5 pips on all account types. The initial standard spread for EUR/USD trades is 3-4 pips, depending on account type.  These spread run on the high side compared to other similiar brokers.

 UFX Markets Spread Info

You can benefit from the lowest trading spreads on the market with select account types offered from UFXMarkets. You will learn more about those account types later on in this UFXMarkets review.

UFXMarkets Trading Platform Review

UFXMarkets offers clients the option to use the ParagonEX Trader platform or the popular MetaTrader 4 platform.

MetaTrader 4 is a downloadable trading platform, and ParagonEX Trader is a web-based platform.

 UFX Markets Platform Preview:

UFX Markets Platform

UFXMarkets Mobile Trading

UFXMarkets Android platform is offered with the basic mobile platform. 

 Mobile Platform Preview:

UFX Mobile Preview #1  UFX Markets Mobile Screenshot #2

UFXMarkets Currency Information

UFXMarkets offers over 45 currency pairs, over 30 stocks, nine of the most liquid indices, five major commodities and the option to trade CFDs. You can start out with a demo account that operates on the same platform as the full trading accounts.

Account Types at UFXMarkets

 

Minimum Deposit

Leverage

Minimum Trade Size

Benefit

Micro Account

$100

200:1

$1,000

Minimal investment, controlled risk

Mini Account

$500

200:1

$5,000

Lower volume trades, reasonable minimum investment

Standard Account

$1,000

200:1

$10,000

Personal coaching, 63+ assets to trade, promo offers, competitive spreads

Gold Account

$5,000

200:1

$25,000

VIP customer service, personal account manager, low fixed spreads

Platinum Account

$10,000

200:1

$50,000

Customized market analysis and reports, lowest spreads on the market, Autochartist

If you are interested in a trading platform that delivers many trading options, this is the most impressive part of this UFXMarkets review. While many online trading companies offer two or three trading account types, UFXMarkets offers Islamic accounts, demo accounts and five other account types:

UFXMarkets doesn't seem to openly reveal their commissions or annual interest rates for any of these account types. This is possibly a reason to assume UFXMarkets scams clients, but you can ask for this information before signing up as a UFXMarkets trader.

Deposits and Withdrawals

UFXMarkets doesn't charge any fees for deposits or withdrawals from client accounts. You may encounter fees charged by your bank or other payment processing services used to initiate your deposits.

You can deposit funds into your account through any of the following payment methods:

  • Credit card
  • Skrill
  • Bank transfer

Withdrawal requests can take up to seven business days to process. You can have your funds sent to your credit card or electronically transferred into your bank account.

Risk Disclosure: fxBrokerSearch.com will not be held liable for any financial loss or damage caused by users acting upon any information contained within this website, not limited to and including: all numerical data, quotes, charts and buy/sell signals. Moreover, please be advised that Forex trading is one of the most volatile investment forms in the world and all trades should be placed with full consideration of the risks and costs.

fxBrokerSearch.com does not support nor encourage the execution of any investments. Trading with a margin is high risk endeavour and not suitable for everyone, therefore, each investor should carefully consider all relevant trading conditions, such as experience, risk and cost, before taking part in any type of trading, including Forex.

While every effort has been made to ensure all our data is as accurate as possible, fxBrokerSearch.com cannot be held responsible for any prices that are not in line with real-time data. Indeed, the currency exchange market is constantly changing and all CFDs (stocks, indexes, futures) and Forex prices are set by market makers.

This means advertised prices may not be accurate and could differ from the actual market conditions. For this reason it is not appropriate to rely on any data presented by fxBrokerSearch.com for the purposes of trading.

Based on these conditions, fxBrokerSearch.com will not be held responsible for any losses incurred through trades conducted in light of data presented on this site.