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UFX 2019: Fees, Pros and Cons and Features

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UFX is one of the leading forex and CFD brokers in the online trading industry. The broker has earned a positive reputation over the years by providing a reliable, safe and advanced trading environment. UFX also allows traders to connect your account with automated crypto trading robots such as Bitcoin Trader.

During our review, we have found many users who have invested through UFX and claim that it is a reliable CFD broker. We also have found many users who claim that the best way to trade with UFX is through one automated crypto trading robots such as Bitcoin Trader.

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    Forex.com : Best U.S. forex platform

    OUR RATING

    • Spreads from just 1.2 pips
    • Regulated by US bodies
    • More than 90 forex pairs

    We have carried out a review of this broker and can confirm that UFX is a legit and reliable online broker. In this review, you will find out about the services they offer and how to start trading with UFX through Bitcoin Trader. 

    Read ahead if you want to know more about this broker.

    What is UFX?

    UFX LogoFounded in 2007, UFX (formerly UFX Markets) is one of the leading forex and CFD brokers in the industry. The broker is owned and operated by UFX Global Limited, an international brand that is incorporated in the Republic of Vanuatu, located at T19, 1st Floor, Tana Russet Plaza, Kumul Highway, Port Vila, Vanuatu.

    UFX allows traders to trade a variety of assets including currency pairs, commodities, indices, stocks and ETFs through a selection of two trading platforms, the in house UFX WebTrader platform and MetaTrader 5. The broker is also known to offer advanced trading tools and features such as MassInsight technology and Trading Central.

    Yet, we must inform you that there is a moderate difference between online brokers and automated crypto trading robots. While online brokers like UFX provides traders to a platform that enables traders to manually buy and sell forex, stocks, indices, ETFs, and commodities, automated trading robots are fully automatic and allow traders to set the platform in auto trading mode and the software can automatically place orders in the market based on technical indicators and fundamental analysis.

    These trading robots do not require a previous trading experience and are suitable for both beginners and experienced users that want to enter the crypto market. Some of these trading robots such as Bitcoin Code claim to have an accuracy rate of 90% and to be able to crack the market. Automated crypto trading robots such as Bitcoin Trader are not allowed to collect deposits and therefore must connect to robot brokers like UFX and automatically execute market orders through their trading platform.

    Our review has revealed that UFX is a legit and reliable broker and that the most efficient way to trade on this broker is through Bitcoin Trader.

    Click here if you want to trade on UFX through Bitcoin Trader.

    UFX Regulations

    UFX is an international brand regulated by the Vanuatu Financial Services Commission (VFSC) under license number 14581, hence traders funds are safe in case UFX goes bankrupt.

    Moreover, the broker is transparent and provides all the necessary information on its website. Other than regulation, UFX also provides trading conditions, risk management, company policy, risk disclosure, AML policy, site security, and terms and conditions.

    The broker promotes the security of both traders’ information and funds and ensures a secure trading environment by taking the actions such as two layers of firewall, SSL secured website, armed guards protecting servers and more.

    Is UFX Legit or Scam?

    Following our review, we can verify that UFX is a reliable and trustworthy online broker. The broker was founded in 207 and is regulated by the Vanuatu Financial Services Commission (VFSC) under license number 14581. In addition, UFX is an STP (Straight-Through-Processing) broker, meaning that they do not take opposing trades to their clients, and offer fixed spreads. The website, the content placed on the website, and user feedbacks suggest that the broker is transparent and legit.

    We must advise you that if you a beginner trader, trading on UFX directly might not be the best solution for you and you should consider trading on UFX through an automated crypto trading robot. Automated trading robots such as Bitcoin Trader are fully automatic which means that anyone can use regardless of one’s previous trading experience.

    Markets/ Instruments

    UFX offers traders a selection of more than 500 instruments, including currency pairs, commodities, indices, stocks, and ETFs. Take note that you can also trade cryptocurrencies on UFX if you open an account through BitcoinTrader, which is an automated trading robot.

    UFX offers fixed spreads across all account types, which are a bit higher than some of its competitors. However, the fact that UFX operates as an STP (Straight-Through-Processing) broker is extremely important as traders can benefit a significantly higher speed of execution, better trading conditions, the removal of conflict between the trader and the broker.

    Trading Platforms

    When it comes to the best trading platforms, UFX is above the industry standard. The broker offers two trading platforms, the in house UFX trading platform which is available as a desktop application and as a web-based trading platform and the popular MetaTrader 5. Both trading platforms are available on mobile devices.

    UFX also offers MassInsight technology, which is an additional feature in the platform that presents a live stream of market events, news, and market sentiment. For traders who deposited $1,000 or more in their account, UFX provides the Trading Central, a leading provider of financial research.

    How to trade on UFX through Bitcoin Trader

    As we mentioned previously in this review, the best way for beginners as well as experienced traders to start trading on UFX is through Bitcoin Trader. On this robot, you do not need to manually insert orders but to set your trading settings and allow the robot to automatically place orders in the market. Bitcoin Trader claims to have an accuracy rate of over 90% and to be able to use sophisticated technologies that identify trading opportunities in the crypto market.

    The registration process can be completed within a few minutes. Here’s a step-by-step guide on how to register on Bitcoin Trader.

    1. Registration

    The first thing you should do is to sign up on Bitcoin Trader’s website. The sign-up process is simple and all you have to do is to click the ‘sign-up’ button on the top right corner of Bitcoin Trader’s homepage and fill in your personal details in the registration form. Then, you will then have to enter a confirmation code sent to your email address.

    1. Deposit

    Now that you have finished the registration process, a pop-up window will ask you if you would like to deposit funds or move on to the trading dashboard. Note that you can deposit funds anytime at your convenience. Remember, the minimum deposit requirement is $250.

    Bitcoin Trader is secured by SSL (https) so you can be sure that the data and information are secured.

    1. Trading

    Trading with Bitcoin Trader is simple and suitable for both beginners and experienced users.  The trading set up requires two easy steps. At the top of the trading dashboard, you need to choose the trading mode, manual or automatic.

    Once you have chosen the automatic trading mode, you will then have to adjust the trading settings – the level of risk, the amount of money you want the robot to invest in each trade, the maximum trades per session, and the amount of profit in a day you want to make. Once you are ready and feel confident with your trading settings, click on the “Start Auto Trading” button.

    If you are not sure whether to trade with real money on Bitcoin Trader right away, you also have the option of trying out a demo account first. 

    How to sign up on UFX directly (not recommended)

    As we mentioned in the above section, the best way to trade on UFX is through Bitcoin Trader. Yet, if you prefer to trade on UFX directly, you can open an account on the broker’s website. You must consider the fact that you cannot use an automated trading robot if you decide to choose this option. Trading robots are based on cutting edge technology that allegedly are able to scan the crypto markets and place profitable orders. Bitcoin Trader, in particular, claims to have an accuracy rate of over 90%. To open an account on Bitcoin Trader, all you have to do is click here.

    Yet, if you still prefer to open an account on UFX directly, you need to visit the broker’s website and complete a short sign up process. Whenever you are on the UFX’s website, click on the “Sign Up” button on the right top of the screen and fill in your personal details.

    Account Types & Leverage

    UFX offers a great selection of six account types – The Micro/Mini, Mini, Standard, Gold, Platinum, and Islamic account. The minimum deposit requirement for the Micro/Mini account is $250.

    The Islamic account, also known as swap-free account, is in accordance with the Islamic Sharia law and is, therefore, an interest-free account.

    The maximum leverage ratio offered by UFX is up to 1:400.

    Education and Resources

    UFX delivers high-quality educational resources and market analysis. Unlike other brokers in the industry, UFX has managed to provide its users with a range of cutting edge tools and features that can help traders with trading on the market.

    First, the broker provides the daily market and financial analysis section on its website and the economic calendar that shows a forecast of all the upcoming events.

    Furthermore, the broker offers MassInsight technology that presents a live stream of market events and aggregated trader behavior.

    For traders who deposited $1,000 or more in their account, UFX provides Trading Central, which is is an industry-leading provider financial research, market analyses, and investment research.

    Bonuses

    At the time of writing, UFX does not offer any bonuses and promotions to its customers. However, we do believe that the broker does offer bonuses on a regular basis.

    Customer Support

    UFX has an outstanding customer support service available 24/5 through email, contact form, live chat, and phone. The broker offers a phone support line for the following countries.

    Furthermore, the broker has an informative FAQ section that provides some valuable information.

    UFX Pros and Cons

    Pros:

    • UFX is an international brand regulated by the Vanuatu Financial Services Commission (VFSC)
    • The broker offers an Islamic account for traders that comply with the Sharia law
    • The broker offers two professional trading platform that are also available as on mobile devices
    • UFX offers top-notch trading tools including MassInsight technology and Trading Central
    • UFX is a well-reputed broker with millions of users across the world

    Cons:

    • The broker does not offer MetaTrader4.
    • No welcome bonus
    • Robot
    • Rating
    • Properties
    • Trade
    1
     
    Free to use
    • 82% claimed win-rate
    • $250 Min Deposit
    • Accepts Debit and Credit Card
    All trading carries risk

    More robots where you can access UFX

    You can also trade on UFX through several crypto robots other than Bitcoin Trader. Check out some of these bots on this Bitcoin robot page.

    Remember that all investment opportunities carry a certain risk. This especially applies to cryptocurrencies, which are still relatively young in the financial markets.

    Conclusion

    UFX is a leading online broker specializing in currencies, commodities, stocks, and indices. The broker is regulated by the Vanuatu Financial Services Commission (VFSC) and complies with industry standards. It also has a great variety of products through an in house trading platform and MetaTrader5. Following our review, we can confirm that UFX is a legit online trading broker with an excellent reputation and experience.

    Forex.com : Best U.S. forex platform

    OUR RATING

    • Spreads from just 1.2 pips
    • Regulated by US bodies
    • More than 90 forex pairs

    FAQs

    Is UFX a scam?

    No. UFX is not a scam broker. Following our review, we can confirm that UFX is a legitimate online trading broker. The broker is regulated by the Vanuatu Financial Services Commission (VFSC) under license number 14581 and ensures the safety of funds for clients.

    How do I open an account with UFX?

    In order to open an account on UFX, you will have to complete a short sign up process on their official website. You will then have to insert your full name, email, phone number and create a password and then, you will have to verify your account with documents proving your identity and address.

    Is UFX an auto trading robot?

    No, UFX is not an automated trading robot but a leading online broker that is offering forex and CFD trading. Automated trading robots were designed to automatically scan the crypto market and place market orders. Auto trading robots such as Bitcoin Trader place orders through online brokers like UFX.

    How much is the minimum deposit?

    The minimum deposit requirement at UFX is $100 for the Micro/Mini account.

    Are there risks when trading with UFX?

    Yes, any investment involves a certain level of risk. Leveraged trading, in particular, is a high-risk activity that can result in losses. However, trading on a reliable trading platform such as UFX will significantly reduce your level of risk.

    Is there a mobile app?

    Yes, UFX offers a selection of trading platforms available on mobile devices. The broker provides the in-house 'Trade on the Go' trading platform which is available on the App Store and Google Play, as well as MetaTrader 5 mobile application.

    A-Z of Forex Brokers

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    Remember, all trading carries risk. Past performance is no guarantee of future results.
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