Comments Rating 2.42 (3 reviews)


Broker Name:


Broker Type:




Operating since year:



CySEC,with license number 127/10


Reliantco Investments Limited Makarios III Avenue & Avgyriou Eftalioti Street Zavos Business Center, 3rd Floor, 3085 Limassoll, Cyprus

Broker status:




44 208-150-0778


English, French, Arabic, Russian




Trading platforms:

MT5, Trading Central, UFX Mobile App

Trading platform Time zone:


Demo account:


Mobile trading:


Web-based trading:




Other trading instruments:

Forex, Indicies, Commodities, Stocks, CFDs, ETFs


Minimum deposit ($):


Maximal leverage:




Scalping allowed:


General Information: all you need to know about the broker in two words

UFX broker was founded quite some time ago, in 2007. The broker obtained regulation with the Cyprus Securities and Exchange Commission (CySEC) in 2011 under its Cyprus entity, Reliantco Investments Limited, which uses UFX as its trading name.

UFX is a Forex and CFD trading broker. The company offers traders access to major markets like currencies, commodities, indices, and shares. For traders interested in cryptocurrencies like Bitcoin, UFX is one of the few brokers that also offer cryptocurrency CFDs.

UFX offers traders access to over 500 instruments, eight indices, including 49 currency pairs and CFDs on 30 cryptos, 45 ETFs, five commodity contracts, 373 single stocks, and ten futures contracts.

In 2014, the company rebranded from UFX Markets to UFX, to match its brand with the three-letter domain name it had acquired. In addition to this, the brand also has an entity regulated in Vanuatu, under UFX Global, regulated by the Vanuatu Financial Services Commission (VFSC).

Here is a short overview of the broker’s pros and cons:


  • Regulated by CySEC
  • Segregates client funds
  • Offers MetaTrader Platform


  • Min. deposit from USD 500
  • Doesn’t allow scalping
  • Inactivity Fee
  • Not FCA Regulated

UFX Review: Security of Funds

We’ve mentioned before that CySEC regulates the broker.

The Cypriot financial watchdog applies a set of rules to license holders, such as the minimum capital requirement and the clients’ funds obligatory law.

The CySEC requires Cyprus-based Forex brokers to hold at least EUR 1,000,000 as proof of financial stability and to keep clients’ money separated from the brokerage’s operational funds. Furthermore, CySEC applies a compensation scheme as an additional guarantee to clients’ funds. All CySEC-regulated companies are members of the Investor Compensation Fund, able to provide compensations to a maximum of 20,000 EUR per person if the broker is at default. Similar compensation schemes also apply in other jurisdictions.

Besides, as CySEC is part of the European MiFID regulations, all companies regulated in Cyprus are free to operate in all EU Member States.

Account Types

Usually, Forex brokers offer their clients a choice of several basic account types, UFX provides six, to suit the needs of traders of all levels of experience and preferences.

UFX demands a minimum deposit of USD 5 000, while other brokers offer this platform for a much lower minimum deposit. Meanwhile, Islamic accounts require a USD 10 000 deposit, the same as for the Platinum account. Islamic account available to Muslim investors is swap-free.

Also, take note that mostly account types offer fixed spreads and a wide range of financial instruments to trade. Micro lots are available for business on Micro and Mini accounts.

UFX: Trading Conditions

Now let’s see what the UFX offers its unsuspicious clients.

Minimum Initial Deposit

First comes the minimum initial deposit that is USD 100. However, there is one thing to remember, in order to receive all essential services, the required minimum deposit is USD 500. That’s kind of tricky, what’s the point of offering this type of initial minimum deposit to the traders if it does not provide even how of the trading experience.

Commissions and Spreads

UFX offers fixed spreads that vary, depending on the classification. Also, like most fixed-spread brokers, UFX does not charge any commission. UFX charges an inactivation fee of USD 50 when a client account has been inactive for three months.

The best spreads with this broker by far are on the Gold and Platinum accounts – 2 pips on EUR/USD, but there is one tiny detail, to use those pips you’d have to have to deposit at least USD 5 000. Other pips are also quite pricy and climb up to 4 pips for the EUR/USD pair on most accounts.


The broker offers the maximum advantage of 1:400. To be honest, most FX brokers offer similar or higher ratios.

UFX Promotions

UFX looks like a generous broker. That’s quite lovely, isn’t it? However, be careful with the bonus systems, as some forex bonuses are real and can even triple your trading results with a needed capital boost. However, others are just projections and can signal the presence of a Forex brokerage scam. That is why it is strongly recommended to consider the reliability and safety features in a trading platform, which we’ll talk about later.

The broker offers a 30% deposit bonus of up to USD 10,000, which can be withdrawn after the required trading volume, is reached.

Also, demo account holders have a chance to get a bonus too – Practice Mode Bonus up to USD 60 is available to demo users. UFX offers Pip Spread Bonus, Rebate Bonus Happy, Hour Bonus, and other promotions.

Methods of Payment

The broker provides its clients with a wide range of payment methods: bank to bank wire transfer, via credit/debit card, Neteller, Skrill, ELV, SOFORT, CUP, iDEAL, Qiwi, WebMoney, Paysafecard, Neosurf, Giropay POLi CashU, and Bitcoin.

UFX trader accounts use US Dollars only.

The broker does not charge fees on money transfers but keeps in mind that withdrawals take from 3 to 10 business days to process.

Trading Platforms

UFX offers its clients a choice of two trading platforms: the most widely used Forex software, MetaTrader 4, and its proprietary ParagonEx Web Trader.

The MT4 platform suite that the broker offers is from MetaQuotes Software Corporation. The corporation is the widely popular developer of MT4 and MT5 platforms for mobile, desktop, and web-pages.

ParagonEx 4.0 is accessible through any web browser and does not require any type of download. Charting within the ParagonEX platform is powered by NetDania, which provides the program up to 53 indicators and 21 drawing tools that can be used across a dozen time frames. Users get the ability ty to choose across six available asset classes using various filters such as volatility and daily change; the watch list in ParagonEX acts as a screener for users. However, one primary weakness of security monitoring while trading is there is no ability to create additional watch lists. Overall, traders who are looking for a less complicating trading solution alongside practical analysis tools and integrated news may find the ParagonEx web trading platform suitable and extremely user-friendly.


Scalping is allowed with this broker; however, keep in mind that UFX has a one-minute minimum time to close a deal after it has been opened.

However if you like old but gold and if you prefer to stick with classic MT4, that option is also available with UFX. MetaTrader 4 is preferred by most traders because it is equipped with an advanced charting package. As usual, it offers a variety of technical indicators, an extensive back-testing environment, and its own Expert Advisors.


UFX provides multiple resources across its platform and website. The information ranges from an economic calendar and headlines powered by FXStreet, to its proprietary MassInsights technology that analyzes client sentiment data.

Also, the broker further enhanced its research in 2017 by adding content from Alliance Signals. If you don’t know it’s a trading name of signals based in Switzerland, as well as additional content in the form of daily market analysis videos and online articles.

What do we think

In conclusion, let’s say that this broker is not bad. Also, there are far better brokers on our list, make sure to check them out! But this one is not bad at all… The broker offers a reasonable range of Forex pairs. That’s quite nice. Also, UFX provides clients with a variety of CFDs across ETFs, Single-Stocks, and Cryptocurrency CFDs.


  • Regulated
  • Variety of choice of trading platforms
  • MetaTrader
  • Commission-free trading
  • Advanced trader sentiment technology
  • ParagonEx Web Trader


  • Only fixed spreads
  • High prices
  • MT4 available only with the high initial deposit
  • No educational material
  • Not a user-friendly interface

Perhaps the biggest drawback with UFX is its pricing options, with only fixed spreads available across all its account types.

Considering that spreads across all its offered accounts types are generally high, this makes UFX less flexible than brokers offering variable spreads for price-sensitive traders.
Also, before making any type of decision, please consider the risk and do your own research!



  1. Avatar Giles 30.09.2020
  2. Avatar Kameron Lucero 30.09.2020
  3. Avatar Marina Odling 30.09.2020
  4. Avatar Greg 30.03.2021

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UFX Review
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Comments Rating 2.42 (3 reviews)

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