How To Choose Your Forex Broker

The brokers contacted me by telephone and email and encouraged me to invest in various financial trading namely gold, petrol and stock exchange. I was assured by brokers that as long as I do what the brokers ask me to do I shall win and that there will be no losses. The brokers reassured that I will make no loss and a win was guaranteed. In reliance on this representation, I entered into a contract with broker. In fact the representation was false and broker was in breach of the contract in that none of the investments made a return.

You’ll get to know its special features, account creation process, fees, limits, accepted payment methods and many more. After knowing all these details, you’ll know if it is safe or not to trade with UFX. UFX also offers its services to traders in many countries including, South Africa, Saudi Arabia, Czech Republic, European Union, etc. The firm offers numerous account types like a Islamic account for traders to comply with the Sharia law. UFX does not charge any trading fees, financing charges, maintenance fees for a trading account or money transfers, deposit fees, withdrawal fees, or transfer fees. It may charge $100 as an inactivation fee if a client account stays inactive for more than 45 days. The inactivity fee may differ depending on the type of account and trade requirements.

Top 5 Forex Brokers

The broker also offers additional trading content and research insights from iSignals and Alliance Signals. They also provide research content in the form of videos, guides, and articles to give users additional and more useful market analysis.

Traders can choose between credit cards, eWallets and bank wire transfer. Some of the major credit cards accepted include VISA, Diners, Mastercard, American Express and Maestro. In terms of eWallets, traders have the option of Skrill, Sofort, Neteller, WebMoney, etc. The minimum amounts for deposit and withdrawal are $50 and $70 respectively. MT4 is the most prominent trading platform in the world and has been adopted by over 80% of brokers in the industry. The best part is that this platform can be downloaded for free through the UFX website. However, you’ll need at least $100 deposited in your account to start trading using your micro account.

Ufx Markets Referrals And Compensation Policy

However, when compared to other brokers, UFX trading fees are very high. The fixed spread on the EURUSD is 2 pips on the flagship ‘Platinum account’ while for other brokers, the spread is around 0.2 pips and can even start from 0 pips. Multiple payment options are available thereby accommodating many traders from across the world. The availability of several account types https://forexhero.info/ is also good so that a trader can choose an account type based on his capital and experience. Immediately, you are logged on to the Web Trader where you can fund your account and commence trading when you are ready to do so. You will need to provide some form of identification for KYC purposes which is a normal part of the process when opening an online brokerage account.

Additionally, UFX also maintains regular trading contests where traders can take part and win attractive prizes. There are also various competitions taking place to reward traders for their patronage. It’s important to check regulatory status before opening an account with an online broker. A reputable and trustworthy broker should be licensed by an official national government regulator and must display its certification clearly on the platform homepage. Trading Brokers have spent thousands of hours researching and conducting in-depth analysis on hundreds of online trading brokers.

UFXMarkets also uses state-of-the art firewall technology which prevents any unauthorized access to client or company information. Our client’s cultural differences are also accounted for by providing interest free Islamic style accounts for investors observing traditional Muslim financial customs. For more Foreign exchange autotrading information on the different varieties of account types we offer, please visit our Accounts page at the UFXMarkets.com website. UFXMarkets is an online Forex trading broker enabling people to trade currencies, shares and commodities. Our main concern with this broker is their inadequate regulation.

Customers have a flexible choice of application, like the in-house designed and developed UFX Web Trader platform and MetaTrader 5. The firm also provides cutting-edge software and attributes like MassInsight technology and Trading Central. CFDs are complex products that acquire a high risk, and many investors lose money when trading CFDs. Traders should take risks only as per their risk appetite and not go beyond it at any point in time. UFXMarkets makes sure that you can find an account that will fit all of your trading needs.

It should be noted that the minimum deposit changes based on account type. A document held by every financial services company, to provide to their clients regarding their products or services. This document will outline how the product in question worked, its potential benefits, and associated risks. The UFX Platform is a good platform which offers a great variety of trading instruments. Zulutrade Forex Broker Review Traders can trade in Currency pairs, commodities, ETFs, market indices and stocks. There are 60+ currency pairs, 7 types of market indices, 10 ETF funds, 29 types of stocks and 7 types of commodities. If you’re trying to day trade and are interested in a suitable broker, the very first thing you ought to think about is if the platform and tools provided are acceptable for trading.

One of the most prominent resources is the economic calendar and FXStreet-powered headings. UFX is a global forex broker that is committed to offering an excellent experience to its customers. The company is regulated by the Vanuatu Financial Services Commission. This means UFX adheres to the highest level of professionalism and ethical standards. Unlike other trading brokers, UFX does not charge a deposit or allow deposit from third-parties.

Trading Conditions

In the instance of UFX, it’s a suitable broker for day trading since CFD contracts may be closed or opened at any moment. While UFX doesn’t offer you any type of trading bonuses, it has a loyalty program known as the”Cashback” program. The more you trade, the more you’ll earn with regard to rewards.

Most importantly, UFX is easy and straightforward to use, and this makes them ideal for first-time traders. UFX is one of the most reputable online trading brokers we have today. The Cyprus-based online trading broker was founded back in 2007. Its activities are regulated and monitored by the Cyprus Securities and Exchange Commission commonly referred to as CySEC. I didn’t even know what that even meant and asked him and he told me that next week you will make $60000usd and just we need to find right exit points blar blast blaa . Now they will stole my money and will need more money .they didn’t offer me training on forex .

Markets And Instruments Of Ufx

His desire is to maintain complete transparency, while “delivering a better experience and making online trading comfortable and convenient.” Unfortunately, U.S. clients are not accepted at this time. While somewhat disappointing, educational materials are available practically everywhere online. On the other hand, proprietary technology like MassInsights is far more difficult to find. It’s also worth far more to beginner and veteran traders alike than just educational materials. Please note that our UFX review team discovered that this broker only offers MT5 for Gold accounts and above.

UFX is one of the least regulated brokerage companies in the industry. However, we’ll give them the benefit of the doubt since they’ve been in the industry for many years. For the period they’ve been operational, they’ve proven to be a truthful online trading broker. UFX is an established online trading brokerage company with many years of experience. They specialize in commodities, ETFs, indices, currency pairs, and stocks.

It is clear from the emails I received from brokers and the telephone conversations that brokers have introduced themselves as a authorised person to give financial advice. The brokers first made it look like that I was winning and making money. Further investment advice was given to me by brokers and I was pushed to make big investments which resulted in losses which was never mentioned by any of brokers. I was contacted by brokers Mr Izzet Kamer, Mr Levent Demir and Arda Polat who encouraged me to open an account with UFX.

• UFX offers competitive spreads, good leverage and good live chat support as well as personal account managers to help the clients to the best of their abilities.
• This, of course, does not promise perfect results and is something to be careful with.
• In this review, UFX has been evaluated based on industry standards for being a forex trade specialist.
• UFX Markets accepts 18 different payment methods and charges no commission or fees, except for the spread.
• As this UFX Markets review demonstrates, the company is very focused on user friendly interface, simplicity, and usability of the platform.
• The company looks very promising with an innovative approach instructing traders how to act and conduct trades so to avoid any practical mistakes.

The UFX asset list, at this reading, totals out at nearly 250 items, including 51 currency pairs, 8 commodities, 7 indices, 171 stocks, and 12 ETFs. Lastly, Dennis de Jong, the firm’s Managing Director, wants to establish a dialogue directly with you by posting his plans for UFX for the coming year right on the website. Find another forex brokerage house CEO willing to state publicly his commitment and confidence for inquiring eyes to see.

What Defines A Reliable Forex Broker?

MT5 is considered one of the best trading platforms on the market for good reason. It is highly customizable and comes with programming that you can use to build indicators and EAs. In terms of trading fees, UFX does not charge commissions on trades, but they do charge spreads.

Also, you can only withdraw funds using the method you used to deposit. For instance, if you used a credit card to make the deposits, you can only withdraw using the card. On the other hand, if you deposit using a bank wire transfer, the funds will only be sent to the account used to transfer the deposit.