Is ufx com online trading a scam

UFX EXPERIENCES 2021 - THE ONLINE BROKER CERTIFIED WELL

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UFX is an online broker that operates in the year Founded in 2007 was and regulated according to EU criteria since 2011 becomes. The provider is based in Limassol Cyprus resident. UFX is particularly known among insiders for being good cashback bonus program, but also the general trading conditions are impressive. In contrast to most other providers, UFX does not act as a market maker, but rather forwards the trading inquiries of its customers directly to the market. This means that significantly better prices can be achieved and created no conflicts of interest between broker and customeras the market makers are repeatedly accused of.
The broker provides his customers with a own trading platform to disposal. This does not have to be downloaded, but can directly in the browser window be opened. But also the one popular among experienced dealers MetaTrader 4 is available, but a senior account to be opened.
We subjected the broker to a detailed test and compared the offer and the conditions with other forex brokers. Read all about our UFX experiences here.

THE ADVANTAGES AND DISADVANTAGES OF THE ONLINE BROKER UFX

  • 45 currency pairs to choose from
  • EU regulation by CySec
  • Own web-based trading platform with numerous functions
  • Leverage of 1: 400
  • Different accounts with different conditions
  • The minimum deposit is 500 euros
  • MetaTrader 4 available under certain conditions
  • Free, unlimited demo account
  • Good cashback bonus program
  • Customer support only available during trading hours

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In our detailed UFX test, we were able to many positive sides at the broker to discover which relatively unknown in Germany is. This includes the EU regulation through CySec in Cyprus, because that is how the customers' funds are well protected and can even be paid out if the provider should go bankrupt. Through constant monitoring by the regulatory authority and the strict license conditions UFX fraud is extremely unlikely because it would not go undetected for long and CySec would intervene accordingly. Customers can therefore trust that UFX serious works and a lot professional services offers.

This is how UFX presents itself on its website

Stand by the customer two different trading platforms to choose from and also by App Many important functions can be used for technical analysis. In this way, customers can find out about the latest Take advantage of opportunities in the forex market at any time.
Also a free demo account is available, which is not only ideally suited to get to know what UFX has to offer and to convince yourself of the in-house trading platform, but also permanently as a training platform can serve, because the demo version is usable for an unlimited period of time.
The comparatively high one Minimum deposit of 500 euros for the so-called mini trading account or 1,000 euros for the standard trading account, on the other hand, provides one clear point of criticism in our UFX experience report. Traders must therefore bring in a certain amount of capital in order to be able to participate in forex trading at UFX, which may deter some beginners who would like to approach online trading with small amounts.
One clear plus point there is, however, for that Bonus program, because active trading is rewarded at UFX. There is currently no classic deposit bonus, but with that UFX Rewards program the traders can get some of their fees back and such save money.

THE CONDITIONS AT A GLANCE

  • 45 tradable currency pairs
  • The minimum deposit is 500 euros
  • in-house, web-based trading platform
  • MetaTrader 4 is also available from gold trading accounts
  • minimum transaction size: 25 USD
  • maximum leverage: 1: 400
  • Minimum margin: 0.25 percent
  • Fixed spreads
  • Different trading accounts for every need
  • mobile trading is supported
  • all merchant accounts are in USD
  • attractive cashback program available

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DEPOSIT INSURANCE AND REGULATION

When choosing the right broker, they play Deposit insurance and regulation of the provider play a very decisive role and are therefore of course also adequately taken into account in our UFX test. After all, the prices can be so good. - Even the best conditions are worthless without adequate security.
Fortunately, traders with this provider can rest assured that there is nothing to complain about in terms of regulation. The broker has his Based in Cyprus and is therefore from the local financial supervisory authority, der CySec, controlled and regulated. Since Cyprus to European Union heard, CySec is also working on it EU law, what the regulation particularly safe for German customers makes. If, contrary to expectations, a legal dispute should arise, the relatively strict EU law will be applied and the relevant criteria are clearly defined. In any case, it cannot be assumed that there will be problems with UFX, because the Compliance with the CySec regulations is checked regularly. Problems or even fraud would therefore be noticed very quickly and prevented accordingly. UFX manages client funds separately from corporate assets. This ensures that a payout even in the event of bankruptcy can be done, because the funds are not counted as part of the bankruptcy estate.
Also one Deposit insurance is available, because UFX is Member of the Cypriot deposit insurance fund ICF, whereby an amount of Reliably secured up to 20,000 euros per customer is.

UFX trading platforms at a glance

OUR UFX EXPERIENCE IN DETAIL

In our UFX test we could see that ztwo different trading platforms are offered for selection. The in-house trading platform ParagonEx Web Trader 4.0 has many useful functions and will constantly evolving. The platform does not have to be downloaded, but can be used directly in the browser window. With the MassInsights technology the traders also receive one comprehensive stream with the Behavior of all dealers worldwide and can thus see at any time which positions are currently being traded particularly intensively and how many traders are buying or selling.
As an alternative to the broker's own platform, UFX can also use the popular MetaTrader 4 to use. These are those among experienced traders most popular trading platform, which is also used by many other online brokers and both because of its clarity and its diverse functions and possibilities of technical analysis can convince. However, it is MetaTrader 4 unfortunately not available with the mini or standard account, but first from a gold account. For this, a minimum deposit of a proud 5,000 is required. Especially when you consider that the MetaTrader 4 is available from some other providers with only a very low minimum deposit, we find it extremely sad that the use of the popular trading platform at UFX is such high requirements is linked.
Trading with UFX is also possible on the go, because the provider provides its users with a free app for Android and iOS to disposal. Here too there is many technical analysis tools and MassInsight technology. This means that UFX users can take advantage of their opportunities in the Forex market at any time while on the move and Place trades on your mobile phone or tablet.

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UFX TEST - THE TRADING CONDITIONS IN A DETAILED REVIEW

In our UFX experience report we also have that Trading conditions examined in more detail and with those of compared to competing providers. When it comes to the minimum deposit, we are not 100% satisfied with this provider, because it is already for the so-called mini account Minimum deposit $ 500. Dealers who value the popular trading platform MetaTrader 4 have to dig deeper into their pockets: is the world's most widely used trading platform at UFX only with a gold account and an associated minimum deposit of $ 5,000. This may not be an obstacle for professional traders who are already trading large amounts. Newcomers are more likely to be deterred by such conditions. The one, on the other hand, is encouraging maximum leverage, which is set relatively high at 1: 400. So it is also possible with relatively small deposits to move large amounts in the international financial markets and thereby higher chances of winning to obtain. However, beginners in particular should always keep that in mind high leverage is also associated with high risk of loss are. The Stop-loss function should therefore be used to avoid unexpectedly high losses in the event of a misjudgment of the price development. Fortunately are stop-loss, take-profit orders and many other functions also with the in-house trading platform integrated in a user-friendly way. The Minimum transaction size is the same for all available accounts 25 dollars. It will be with fixed spreads traded that relatively low are held. Because UFX is not a market maker, but customer inquiries forwarded directly to the market the best prices are always available.

UFX support only available during trading hours

SERVICES, EXTRAS AND BONUS

One of the clear pluses in our UFX test is that Demo account. Not only can all functions with play money and thus without any financial risk to be tested, but there is also no limitation of the useful life. While with many other providers the demo version ends after a few days or weeks, the UFX demo account, for example also in combination with a real money account be used. This is occasionally useful even for more experienced traders, because newly learned or changed strategies do not have to be tested directly with real money. Also one Adaptation of the user interface of the trading platform can be done very easily. It is advisable to use the demo account until all processes have been implemented. Only then is real money used. Mistakes are made in the demo version and therefore cost the trader no "apprenticeship". Use of the demo version is included no costs or obligations connected. You can also top up with play money free of charge.
A Training courses, As is available from many other providers in the form of instructional videos and articles, UFX unfortunately does not. The trader must therefore obtain the necessary knowledge external sources Acquire it thanks to the wide range on the Internet no particular problem represents. Among other things, readers will find a lot of interesting information on our website. For this, it is possible for traders at UFX to use their personal trading coach to contact. This gives valuable tips to improve your own strategy or to select the available base values.
One Deposit bonus is not available at UFX at the moment, but traders can still use this online broker get a lot of extra credit. All you have to do is sign up for the UFX rewards program Register, and you will receive a each time you reach a predetermined goal Bonus in the form of additional trading credit. However, as with most other providers, the payment of this credit is to certain conditions knotted. The bonus balance cannot be paid out directly, but a specific one has to be paid out first Turnover through further trades to be generated. This shouldn't be a problem for ambitious traders.

UFX contact option

OTHER UFX TEST REPORTS & AWARDS

The broker UFX has already various awards which confirm the high quality of the overall offer. This is how UFX got, for example, from the financial magazine "The European" in the years 2013 - 2016 as "FX Broker of the Year" excellent. "FX Report" awarded the UFX trading platform a prize and did so too Loyalty program of the broker due to its numerous advantages for customers Test winner 2016. The Trading tools also received an award: they were Test winner at the UK Forex Awards.

Go to UFX: www.ufx.com Investments involve the risk of losses

QUESTIONS AND ANSWERS ABOUT THE BROKER UFX

Can a demo account be used?


A demo account is used, among other things, to get to know the offer and the trading platform of a broker in peace, so that you can then decide for or against a deposit. But a demo account has other advantages:
Especially for beginners it is important that they start trading Forex products first train without financial risk can. So that this can happen under the most realistic conditions possible, many brokers now offer demo accounts, where you can trade with play money at the real rates. Such a demo account is also available at UFX. The period of use is unlimited, so that customers can take the time they need by getting to know the trading software and the UFX offers. The demo account is also interesting for real money traders, because if you are uncertain about new strategies or when integrating new tools into the existing setup, it is worthwhile to first use a demo account and only switch back to real money mode when the operation works safely and without errors.

What profit expectations do I have at UFX?

There is no general answer to the question of the amount of profit, because many factors play a role here. First and foremost, the profit expectation depends on the ability of the trader to precisely analyze the currency rates, because even if the course of the rates can never be precisely predicted, professionals can use various tools to assess them with a greater probability than inexperienced newcomers.
At UFX, a leverage of a maximum of 1: 400 is possible, which means that relatively large sums of money can be moved compared to the account balance. This quite high leverage, together with the comparatively low spreads, offers good conditions for high profits. Nevertheless, when trading forex it should never be disregarded that it is a very speculative form of investment, which always involves a certain risk of loss.

Is the broker regulated by a regulator?

UFX is based in Limassol, Cyprus and is controlled and regulated by the Cypriot supervisory authority in accordance with the regulations in force there. Since Cyprus is a member of the EU, regulation is based on strict EU law, which is a great advantage for German traders. It can therefore be assumed that, thanks to the strict controls, any problems at UFX would quickly come to light. In this case, the supervisory authority would intervene immediately so that the customers' funds would not be endangered.

Can MetaTrader 4 be used?

It is especially important for experienced traders that they can always use the same trading platform with different brokers. MetaTrader 4 is often preferred because it is an easy-to-use trading platform with many functions that is also available from many brokers. It is not for nothing that MetaTrader 4 is the most popular trading platform worldwide. It is also possible to use MetaTrader 4 with UFX, but this option is only available from a gold trading account. The users of mini or standard accounts have to be content with the broker's in-house ParagonEx trading platform.

What is the minimum deposit that must be made into the account?

The question of the minimum deposit is also an important criterion in a broker test. At UFX, a minimum deposit of USD 500 is required, but this only applies to the mini trading account. For the higher-class accounts, correspondingly higher minimum deposits are provided. The minimum deposit for a standard trading account is 1,000 euros, for a gold trading account 5,000 euros and for a platinum account 10,000 euros.In principle, the mini account is completely sufficient for beginners, but it should be noted that the popular MetaTrader 4 is only available from the gold account. For the other accounts, only the very professionally structured in-house trading platform ParagonEx is available Web Trader 4.0 to disposal.

YOUR OWN UFX EXPERIENCE

With our test report, potential customers can find out more about what UFX has to offer. In addition, we also find it important that customers express their own personal experiences with UFX. If you have already placed trades through this broker and thus have your own UFX experience, we would be happy if you took the opportunity to communicate with the other traders. You are also welcome to take a look at our overview of the best online brokers.

Questions & Answers about UFX


Where is the broker headquartered?


UFX is headquartered in Cyprus.


Is UFX a regulated broker?


The UFX broker is regulated by the CySEC, among others.


Can I test trading at UFX in advance?


Yes. UFX provides a free demo account.


Which commercial products does UFX offer?


Forex, CFD and crypto currencies can be traded at UFX.


 

XTB
  • Account from: 0 €
  • Costs: A +
  • Min. Trading amount: 0,01