UFXMarkets Review

UFXMarkets Review
UFXMarkets Review

Regulation : CySEC, MiFID

Accepts US Clients: No

Min. Deposit : $100

Leverage : 1:200

Platforms : MT4, Web-based ParagonEx platform

We Like

  • Fixed spread
  • Stable and advanced Meta trader 4 trading platform

We Don't Like

  • Do not have mobile platforms
  • OCO orders and scalping are not available
The Verdict :

Their fixed spread has made them unique. Though their offered spread is not lowest in the market, they are reasonable. Their one-click trading helps the trader to execute their trading decisions quickly.

  • Expert Opinion
  • User reviews
  • Specifications

UfxMarkets is a Cyprus based broker founded and online since 2009. They are regulated by CySEC and MiFID. UfxMarkets is suitable for any type of trader as they offer a wide range of market, tight fixed spread, stable platform, trading tools etc.

Trading Platform:

UfxMarkets has two types of trading platforms. These are,
1. Web-based ParagonEx platform
2. Meta trader 4 platform
Web-based ParagonEX platform opens the opportunity for customers of UfxMarkets to trade instantly without downloading trading platform. They also have Meta trader 4 platform which is advanced, very popular and widely used trading platform

Main Features:

UfxMarkets allow traders trade instantly in their web-based platform. Besides this web-based platform, they also provide Meta trader 4 platform for trading. They provide Forex News Daily Video which helps the trader to understand the economic aspects of various pairs without reading them.

They also offer some other trading tools such as daily market review, advanced charts, trading ideas, technical analysis tutorials, world interest rates, financial calendar, ask the broker, forex news and other widgets.

UfxMarkets also provides trading signals and charting packages which is available for expensive or advanced accounts. Their tight fixed spread is a fascinating characteristic. Their fast and easy deposit/withdrawal process is also a big plus point. Customer support unit of UfxMarkets is also active and reliable with various customer support methods.

Types of Trading Accounts:

UfxMarkets offers various types of trading accounts. A trader can choose any of these matching his/her own requirements. These accounts are,
Micro Account – Suitable for new traders with small initial deposit. Minimum deposit is $100.
Mini Account – Suitable for experienced traders willing to invest $500-$999.
• Standard Account – Suitable for more experienced and advanced traders willing to invest more than $1000.
Advanced Account – Suitable for those who require advanced trading signals and charting packages. Minimum deposit for this type of account is $5000.
Islamic Account – Suitable for Muslim traders who follow the Sharia Principles

Commissions and Spreads:

UfxMarkets offers tight fixed spreads, but this spread can vary depending on the size or type of your trading account.

Customer Service:

UfxMarkets provide phone support to their customers in 4 countries; these countries are England, Egypt, Singapore and Hong Kong). They also provide chat and email support to their customers. They are active, friendly and professional in case of customer support.

What We Liked:

Daily Forex News Video – UfxMarkets provides forex news videos. These videos are very useful for traders as they do not have to read the news anymore. These videos are educative, time effective and resourceful tool for forex trading.
Ask the Broker – This is another trading tool which is an additional service for traders. Traders can ask the broker about forex trading and can also get suggestions in various topics of forex trading.

What We Disliked:

No US Clients Allowed – Unfortunately they do not allow US citizens to open account and trade with them.
No Mobile Platform– They do not have or offer any mobile platform which could be a major part of flexible trading. Traders can not access or trade via cell or mobile phones.
No Scalping and OCO orders – Scalping is a very popular and profitable trading strategy at the present time which is not allowed or supported by UfxMarkets. OCO orders can keep a trader away from unwanted positions due to placed order.

The Bottom Line:

UfxMarkets is a reliable broker with lots of special features. I liked the fixed spread trading opportunity with a wide range of trading instruments most. I also liked easy account opening and fast deposit/withdrawal methods of this broker. Thier Meta trader platform is good for analysis and trading. They should allow OCO orders with scalping opportunities to enrich their features to attract more and more traders. Also, they should offer no deposit bonus for traders to enjoy risk free trading in forex market.