UFX Markets is a forex broker that is managed by Cyprus based investment bank ReliantCo Investments Ltd. As such it is regulated by CySEC, but also MiFID (Markets in Financial Instruments Directive) which monitors investment services across the EU. In the UK it is registered with FSA (Financial Services Authority), in Germany with the Federal Financial Supervisory Authority and the Banque de France. You can sure you are dealing with an experienced, professional broker that has been in business since 2011.
UFX Markets does not take a commission but collects compensation via the spread. In common with most other brokers it does make a rollover charge for positions held overnight. Minimum deposit is just $100 and you can open a variety of different accounts and trade in foreign currencies, CFDs and they offer a social trading network. An initial bonus of up to $2000 is available, dependant on your initial deposit.
Starting to trade is easy with UFX
Beginning your trading career is easy with UFX Markets. There is just a simple registration form which requires your name, phone number and email address, after which you are free to start trading. It couldn’t be simpler.
Next step is to decide which type of account you want to open.
- Demo account – learn about trading currencies with no risk to your own personal finances.
- Micro account – requires a minimum deposit of only $100. You will receive daily reviews and reports via email and have access to training materials.
- Mini account – this account only needs a minimum of $500. Risk is limited by trading volume. It allows you to use tutorials, recommendations and tips, with support and remote assistance.
- Standard account – greater flexibility is offered with a minimum deposit of $1000. You receive all the previous benefits and personal coaching.
- Gold account – this is designed for more advanced traders and requires at least $5000. You get your own personal dealer who will keep you up to date with news of the markets, trading ideas and any promotional offers.
- Platinum account – a minimum deposit of $10000 will give you VIP status. Your very own VIP account manager will keep you informed of exclusive VIP offers.
What bonus is available?
Most popular brokers offer new clients attractive bonuses and UFX Markets is no different. When you open a real money trading account you earn a bonus that is immediately credited to your account. There are certain conditions attached to this bonus, that revolve around your trading volumes. Bonuses of up to $5000 are possible but it all depends on the value of your initial deposit.
Trading platforms and advice available
UFX Markets has available the web-based ParagonEx Trader, as well as offering the ever popular MetaTrader4. Which ever you choose to use you will find the download process uncomplicated as there are easy to follow instructions. As with anything IT related there is always a possibility you will encounter problems, but with this broker that is not a problem. Customer service support is available whenever the markets are open and you will be able to contact them by phone, email or live chat. Of course a mobile app is available for trading on the go using your Android device, iPhone or iPad.
Once the platform of choice has been downloaded you are directed to a very straightforward trading screen. Navigation is uncomplicated and you can flick easily between different types of trading. MetaTrader 4 uses multiple screens while ParagonEx uses only one.
So what else is available to help you participate in the Forex trading market? There is the daily news video that can be listened to while you are trading live as well as a host of other learning tools to help the novice trader. If you consider yourself to be a bit of an expert you can receive current trading signals and make use of charting tools.
You can sign up for 1 on 1 personal coaching, read relevant articles, learn all the latest terms and definitions and watch interesting and informative videos. Whatever your skill level you will surely find something useful and increase your knowledge.
Conclusion of the review
So let’s sum up the benefits of working with UFX Markets. They have simple, safe and secure trading platforms that make trading a pleasure for the novice and more experienced trader. On offer are very competitive spreads over more than 45 currency pairs. Whenever you encounter a problem there are support staff available that will get you through your difficulties. You can trade whether you are sat at home or out for a walk, indeed wherever you are. Forex trading is constantly changing so it is important to keep on top of the latest news and reports. Currency quotes are constantly being updated to give you the latest prices. On the whole, although UFX Markets is a relatively new broker to the industry, it has shown itself to be accomplished, trustworthy and customer friendly and can be considered worthy of your time.