UFX Broker Review

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UFX is a globally recognized forex broker, established in 2007, known for trading currency pairs, CFDs, and ETFs.

Regulated by both CySEC and VFSC, it has won over 20 global awards. In addition to these accolades, UFX stands out for its customer-centric approach, having offices worldwide to cater to traders’ diverse needs and preferences.

When the Traders Union answered what is UFX, they emphasized its focus on active trading with fixed spreads and high leverage, but passive strategies are also supported. Traders can emulate successful trades and use expert advisors for automation.

UFX pros and cons

Traders Union, in its comprehensive review, delineated a variety of advantages and disadvantages associated with using UFX for cryptocurrency trading.

Pros:

  • Possession of licenses from two globally recognized regulators, VFSC and CySEC.
  • Broad spectrum of trading assets, including currency pairs, CFDs, and ETFs.
  • Extensive selection of payment systems for both deposits and withdrawals.
  • Generous affiliate commissions for new client referrals.
  • Option to trade on various account types such as cent, standard, and professional with substantial leverage.
  • Ability to open an Islamic account, permitting refusal of swap charges for position transfer to the subsequent trading day.
  • Inclusion of traders within the CySEC jurisdiction in the Investor Compensation Fund, offering coverage up to €20,000 per individual.

Cons:

  • The firm maintains high fixed spreads, starting from 2 pips on major currency pairs.
  • Traders from the US or the UK are currently not accepted by the broker.
  • Presently, Bitcoin is the only cryptocurrency available for trading.

Expert review of UFX

TU experts highlight that UFX is a regulated STP broker designed purely for trade execution. This means that while the company’s specialists do not provide trading advice, they do offer comprehensive support, including:

  • Self-guided strategy development for traders.
  • Access to training and market analysis.
  • 24/7 online support with an average response time of two minutes.

UFX offers a range of account types with fixed spreads and up to 1:400 leverage. Notably:

  • Deposits and withdrawals are facilitated via bank transfers, credit cards, and digital payment systems.
  • UFX does not charge non-trading commissions, meaning users don’t pay for payment operations, account maintenance, or terminal provision.
  • It utilizes SSL encryption for the protection of personal and payment data.

Minimum deposit requirements vary:

  • Cent accounts can be opened with a deposit of $100.
  • Standard lots require a minimum deposit of $500.
  • An Islamic Account necessitates an initial deposit of $10,000.
  • Access to trading via MT5 is exclusive to deposits of $5,000 or more.

Analysis of the main features of this crypto exchange

According to Traders Union, as per detailed analysis, the evaluation of UFX was executed considering the subsequent benchmarks:

  • Total Score: 3.44
  • Order Execution: Scored 3.23 out of 10
  • Investment Instruments: Rated 3.65 out of 10
  • Speed of Withdrawal: Achieved a score of 3.29 out of 10
  • Customer Support: Evaluated at 3.59 out of 10
  • Diversity of Instruments: Garnered a score of 3.07 out of 10
  • Trading Platform: Received a rating of 3.81 out of 10

Trading conditions for UFX users

According to Traders Union, those selecting UFX as their Forex broker gain access to over 400 financial instruments. Leverage size is dependent on both the type of asset and the trader’s country of residence. UFX offers a variety of STP accounts, including cent, standard, premium, and Islamic, with the option of a demo account as well. Traders can close an open trade as quickly as within one minute.

Comparison of UFX with other brokers

Traders Union delivers a comparative evaluation of UFX in relation to other brokers in the cryptocurrency trading sphere.

  • RoboForex: While RoboForex offers advanced trading tools like algorithmic trading, UFX specializes in a wider range of financial instruments.
  • Pocket Option: Pocket Option is popular for binary options trading, but UFX provides more traditional forex trading with more assets.
  • Tickmill: Tickmill offers lower spreads compared to UFX, but UFX offers a broader selection of tradeable assets and account types.
  • Exness: Exness offers more flexible leverage and faster withdrawals, but UFX stands out with its comprehensive customer support and training.
  • AMarkets: AMarkets has a greater focus on low-commission trading, whereas UFX prioritizes offering a wide selection of assets and high-leverage trading.

In the ever-expanding world of forex trading, platforms like Fidelcrest are emerging as key players. The Fidelcrest trading platform distinguishes itself through its robust features and innovative solutions, promising traders an enhanced trading experience. However, it stands in stark contrast to UFX, which has a more traditional approach, providing a wide array of assets and a focus on high-leverage trading, thereby appealing to a diverse range of traders.

Conclusion

In conclusion, UFX, with its extensive financial instruments and global recognition, is a compelling choice for traders. While each platform like RoboForex, Pocket Option, Tickmill, Exness, AMarkets, and Fidelcrest has unique strengths, UFX’s blend of comprehensive support, wide asset selection, and high-leverage trading is appealing to a broad spectrum of traders. For more information, visit the Traders Union website.