Scam Broker Updates: 11/08/2019
Before moving on to decide whether the UFX Forex broker is a scam or not, let’s find out everything that you need to know about this broker in this UFX review.
UFX Trading is a global firm for trading that has taken command of its reputation since it was established in 2007.
UFX Forex broker operates on a Straight-through-Processing (STP) business model and doesn’t take opponent positions in the market to that of their clients’ trades. According to the UFX markets review, it ensures to meet all of their clients’ trading needs. While at the same time, they are offering stable and competitive spreads for them.
UFX Global operates under the jurisdiction of the Vanuatu Financial Services Commission. In the case of UFX regulations, it synchronized under license number 14581.
Speaking of its reputation, we shall say that the UFX Forex broker has earned a lot of respect over the years. Leading industry reviewers have recognized the broker for its outstanding services and product offerings.
.Since 2012, UFX markets have won multiple recognition titles for their services to the trading industry.
The chairman of the UFX broker is Dennis de Jong.
Here is the full list, UFX trading is available in most of the countries including:
Key Note: In the USA, CFDs are not available because of local regulations. UFX broker does not allow US residents or citizens as clients.
UFX Forex is available in the following languages:
UFX trading has to offer multiple trading platforms for its traders. Let’s see what they’ve got:
ParagonEx Web Trader is a prominent trading platform. And UFX Forex, in which there is a variety of features and functions to fulfill traders’ needs, adopts its latest version.
It uses the innovative MassInsights™ Technology to provide traders with all the required information about the prevailing trends in the Forex markets. Also, it is a web-based version, which means it doesn’t require any download of the software.
Traders can access it directly through the web from anywhere, anytime.
According to UFX trading reviews, it supports and offers Meta Trader 4 to its traders, which is the prominent platform in the world right now.
It provides a variety of features like; a charting package with a wide array of technical indicators. And it has language-customization, that’s why the traders are widely using it across the world in different countries with different languages.
Mata Trader 4 also allows automation trading with the use of Expert Advisors (EAs). To help traders execute a trade when they’re manually not able to do it due to any reason.
MetaTrader 4 is available in a desktop version and is available for different operating systems such as Windows, Linux, and macOS.
If you use desktop a lot, this is the best choice of the trading platform always as it is also adopted by 80 to 90 percent of the brokers in the world.
If you’re the type of person, who is consistently on the move and still doesn’t want to miss the trading. No worries, UFX markets review provides a mobile trading platform for you through which you can trade anytime, anywhere in the palm of your hands.
Moreover, the good news is that you won’t miss the features of WebTrader Platform and MT4 Platform and also the functionality and features of MassInsights™ Technology and numerous other advanced trading tools that will fit on your Smartphone screen.
The mobile-based application for trading is available on Google Play Store and Apple App Store for download.
[su_row][su_column size="1/2" center="no" class=""]
[su_box title="Pros" box_color="#00bf08" radius="4"][su_list icon="icon: check-circle" icon_color="#0cc33e"]
[su_column size="1/2" center="no" class=""]
[su_box title="Cons" box_color="#bf000a" radius="4"][su_list icon="icon: ban" icon_color="#bf000a"]
UFX trading review offers six account types, let’s have a look:
On the website of the UFX, once you click the green “Sign Up” button, you may be asked a few questions, such as your personal details and what type of account you want to open, etc. you are logged in to the UFX trading system once you have successfully entered this information.
Then, on the right side of the screen, you can go to the drop-down menu, to make the information available to the UFX what it requires to verify your identity. You may need to upload the following documents to verify your identity or maybe fax, scan, and email to the UFX broker.
The UFX team of compliance will instantly check all of your documents and notify you if any text is missing, unsuitable, or unreadable.
Traders are allowed to deposit as well as withdraw funds with UFX by using one of the several different methods:
As you already informed that UFX never, charge deposit, fees, and third-party deposits are not allowed with this broker.
If you have made the initial deposit with a credit card, then you can only get a withdrawal from the credit card that used for the original payment with the UFX platform.
On the other side, if you have made an initial deposit through bank wire transfer, the UFX will send the withdrawal to the account that was used for the initial transfer originated.
Six categories are offered from UFX to its customer's financial instruments to trade:
Massive range of UFX currencies are there such as AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, AUD/USD, CAD/CHF, CAD/JPY, EUR/GBP, EUR/INR, EUR/TRY, GBP/USD, NZD/CHF, USD/CHF and lots more.
According to the UFX markets review, it has loads of currencies, and similarly, it has cryptocurrencies on a broad array:
Aventus, BCH/BTC, Bitcoin, Bitcoin Cash, Dash, Bitcoin Gold, Ethereum, Litecoin, Ripple, and loads of more cryptocurrencies are available.
According to UFX review, it offers CFDs on more than hundreds of international companies’ shares. Well, some well-known companies are;
UFX broker offers many ETFs to CFD trading, which includes:
On each instrument, UFX receives its compensation in the form of the market spreads. UFX broker is STP (Straight-Through-Processing, which means it never captures the reverse side of the trades of customers.
Instead, it evades the trades that it makes with the customers right away in the marketplace.
Fixed and stable spreads are offered with UFX broker. The ranges for trading vary by the particular financial instruments that are traded as well as the platform for trading.
Here are the spreads for the most used instruments by asset classes.
For custom spreads, you should contact Customer Support if you are a trader.
In particular regions, some currencies and commodities might not be available. No doubt it is uncommon, UFX spreads might vary during conditions of extreme trading or non-trading hours. On the platform of the relevant spreads, UFX will notify you, if you try to trade in these conditions.
Commissions: Only for each instrument spread on trades, UFX does not charge commissions.
Money Transfers: For money transfers, UFX will not charge fees.
Maintenance Fees: Regular maintenance fee is not charged with UFX trading. However, the platform has the right to charge a $50 US fee once every three months on open accounts.
Inactivity Fees: An inactivation fee of $50 US can be charged from the UFX platform when a client account has not been active for a specific time of three months.
Overnight Financing Charges: When a position remains open for a specific time, the overnight fee is added or subtracted from the account of the trader. At the UFX website’s Trading Conditions section, traders can have the information on overnight fees and funds.
Slippage: Slippage is a regular market practice as UFX review informs as well as it is a regular feature of the international exchange markets in conditions. These conditions include illiquidity and volatility because of the news announcements, market openings, and economic events.
Deposit Fees: On deposits, UFX does not charge fees.
Withdrawal Fees: For withdrawals too, UFX does not charge fees. However, transfer fees might be imposed on you from your banks.
UFX review supports several payment methods that include transfer by credit cards, eWallets, and bank wire transfers. UFX Forex accepts major credit cards such as VISA, MasterCard, Diners, Maestro and American Express.
For eWallet carriers, traders can use popular wallets such as Neteller, Skrill, Sofort, and Poli. As we’re now aware of UFX broker in this UFX review, let’s now move to the facts and figures of UFX scams to accurately find out whether UFX is a scam broker or not. Let’s find out!
After our initial article where we debated is UFX trading safe or it is a scam broker, even more, people are accusing the firm. We decided to do some research and update you with the changes happening internally and externally for UFX Forex.
The complaints regarding UFX scamming its traders called for an SEC audit where a couple of accounts managers were let go.
UFX com said it will not tolerate unethical behavior from its employees and will do everything necessary to clear their name.
On another note, if a person is persuaded to take a trade or open certain positions, that’s illegal. A
We are not sticking our hand in the fire but make sure you get in contact with a higher-up before going to so-called websites where you pay money in the hopes of recovering the money you lost from trading with the brokers believe to be a scam. Unregulated Brokers have defrauded many Traders on numerous occasions.
However, can you believe everything is available on the internet?
Also, is UFX a Scam broker?
Is UFX trading safe?
The first result you get after doing a Google search is “UFX a scam broker.”Primarily, let’s go ahead and investigate together if UFX is in fact, a scam broker.
The word scam stands for fraudulent or deceptive acts or operations. There is no doubt that some people may have encountered a scam broker when trading Forex.
Unfortunately, some things take a wrong turn. It usually starts with a phone call from explaining how they could make millions in a short time through trading. Regarding UFX trader, some users who lost money either while trading or had accounts suspended for suspicious activity marked it as a “scam broker”.
Having done some more research, we discovered a person who was probably an ex-employee of the UFX trading platform made one of the reviews online.
The person mentioned above started on May 6, 2018, with a full list of employees of UFX. He provided a complete list of over 70 people from owners to regular employees.
It seems somewhat like an act of revenge from an ex-employee trying to harm UFX Forex. Interesting enough, since the person doesn’t claim he lost money, it made me even more curious.
Also, he claims that he will take legal action against UFX markets and this information “is for everyone who lost money with UFX.” At the end of his post on the forex peace army, he said: “in the following week I will update my post and guide people to get their money back.”
Seven months have passed by, and we haven’t heard a word from our mysterious person. Funny enough, two days ago another user asked if he has any updates regarding UFX and his case. (With no answer, of course)
Moving along with some more swindle accusations towards UFX market reviews, we identify an overall miscommunication between parties. Comments such as “UFX scam, Be Wary, UFX is a scam broker” and “stay away” can be found.
However, very few share their experience after trading with UFX and communicated poorly with clear defamation attempts. In other websites, we come across some copies of previously made reviews where comparisons are made with other brokers.
There is no mystery that some do anything to provide misleading information to gain a competitive advantage. Examples of such headlines such as: “UFX a Scam Broker, but this X, Y, Z broker is not a scam” is the reality of today’s scam warnings.
These accusations come with the industry. There will be fake posts, and there will be clients that are genuinely upset about losing money from a broker. Keep in mind that those that will lose money will probably lose it again with another broker.
Let’s filter out the information we have so far and face reality regarding UFX trading and other brokers.
It’s important to understand that UFX seems a fully regulated Forex broker operated by Reliant co Investments Limited.Authorized and regulated by the Cyprus Securities and Exchange Commission, “CySEC” with license number 127/10.
Checking reviews about brokers are more often than not, a confusing process. However, it’s always a good thing to check UFX regulations that apply to the broker.
To see that information click the tab “About us” or “Regulation” where you can see a license or registration number. Depending on the entity, that regulates the broker directly, paste that number and check the information on the official regulatory website.[/alert]
When people try the financial markets, they always tend to pick aside. They have to choose from Bearish or bullish, hawkish or dovish, short or long.
However, when so many traders act at the same time, they can have a significant influence on the market. Creating new trends and movements, this can shape out how the market reacts.
This information on how many people are trading, what professional market analysts have usually used on their trading and the direction of positions.
Similarly, billion-dollar hedge funds and Investment banks use it. UFX markets review introduced MassInsights Technology and allowed traders to see the market like never before.
MassInsights Technology shows you how other traders are trading and how many are buying or selling a specific asset.
You can join the majority of other traders and choose the more dominant direction, or you can go against it.
How does it work? UFX MassInsights Technology gathers trading insights from real active traders all over the world.
With a unique live stream that will alert you when a trend has been created or when the majority of trading positions shift in a different direction.
MassInsights technology can show you how many people are trading an asset in your own country or anywhere in the world.
UFX MassInsights Technology isn’t just a fancy title. It is a scientific fact, and the more diverse the traders are, the more accurate the stream predictions can be. That’s why Ufx’s massive community of global Traders is your best source for trading knowledge.
So, we’re concluding the UFX review with the facts and figure of the UFX scams that we’ve found out whether it is a scam broker in the trading industry. Primarily, complaints of unsatisfied clients can’t mark a company as a scam, and we emphasize this regarding clients that had a bad experience.When it comes down to trading, bad experiences are usually because of misunderstandings between both parties. Imagine a trade going against you, and it keeps going for several hours or days.
If you have not imposed a stop loss, you may possibly be required to increase your margin to maintain the position. Although the broker is not benefiting from the money in your trading account, it is benefiting from the trades you’re carrying.
Ultimately, UFX trading and many other brokers make money on the spread. That means UFX Forex needs to provide the best services for clients to keep trading. If UFX market reviews were a scam, very few would trade with them.
©2020 Highway Media Group. All Rights Reserved.
* Disclaimer: Highway Media Group will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Currency trading on margin involves high risk, and is not suitable for all investors. Trading or investing in cryptocurrencies carries with it potential risks.
Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Cryptocurrencies are not suitable for all investors. Before deciding to trade foreign exchange or any other financial instrument or cryptocurrencies you should carefully consider your investment objectives, level of experience, and risk appetite.
Highway Media Group would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures), Forex and cryptocurrencies prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Therefore, Highway Media Group doesn’t bear any responsibility for any trading losses you might incur as a result of using this data. Highway Media Group may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.