UFX Review – Must Read Spread, Leverage & Fee Info For Forex Traders

UFX HeadlinesPlatformsRecommended Alternatives To UFXAssets & MarketsSpreads & CommissionsLeverage ReviewMobile TradingUFX Payment MethodsDemo AccountBonuses & PromosRegulation & LicensingAdditional FeaturesAccount TypesBenefitsDrawbacksOpening HoursCustomer SupportSecurityUFX VerdictAccepted CountriesAlternatives to UFXFAQ

UFX Global is a leading forex and CFD trading platform that is owned by Reliantco Investments LTD. The company was established in 2007 and is based in Cyprus. In this 2022 review, we explain how to trade on the firm’s mobile app and explore the breadth of financial products, alongside any payments and fees.

UFX Headlines

With state-of-the-art trading platforms, UFX aims to meet all its clients’ trading needs while offering stable and competitive spreads. The broker operates a Straight-through-Processing (STP) business model and, as such, does not take opposing positions to that of its clients’ trades.

The company’s head office is situated at 139 Makarios Avenue, Zavos Business Center, 3rd Floor, 3021 Limassol, Cyprus. Its Czech Republic branch address is Na Hřebenech II 1718/8, Building B, 140 00 Prague 4.

The CEO, Thomas Johansen, joined the company’s ventures in 2014. He also serves as an Account Manager at Investing-Academy. Prior to that, Thomas worked at Deutsche Bank as the Vice President of institutional sales.


The broker offers traders two main types of trading platforms: ParagonEx Web Trader 4.0 and MetaTrader 4 (MT4).

MetaTrader 4

The MT4 platform is the most popular forex and CFD trading platform in the industry. It has been adopted by the majority of brokers in the market. The platform is also well-liked by investors in the online trading community, offering a wide range of powerful investing tools.

MT4 comes with an advanced charting package and a large library of technical indicators. It supports multiple order types and automated trading through Expert Advisors (EAs). The platform is also available in various languages while the user interface itself can be customized to suit trader needs.

ParagonEx WebTrader 4.0

The alternative platform is the ParagonEx WebTrader 4.0. This trading outlet is a versatile web-based platform and requires no software download or installation on your desktop.

It has integrated charts and supports real-time news feeds. Version 4.0, adopted by UFX, is the latest version of the ParagonEx WebTrader and uses the innovative MassInsights™ Technology to provide trades with information about prevailing trends in the markets.

There is also a mobile trading option for those who prefer to trade on the move.

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Reliable and affordable trading since 2009. Join over 900,000 others trading on 400+ CFD products over assets like forex, gold, indices, cryptocurrency and shares from 0.0 spreads through TradingView, MT4 or MT5. Vantage is ASIC regulated and client funds are segregated. Open an account in under 5 minutes.

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A regulated bank, Saxobank offer Equities and Forex trading on 40,000+ markets via the SaxoTrader Pro and SaxoTrader Go platforms

A regulated bank, Saxobank offer Equities and Forex trading on 40,000+ markets via the SaxoTrader Pro and SaxoTrader Go platforms

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Assets & Markets

With UFX, you can trade a vast array of assets including 58 forex pairs, 8 market indices, 40+ ETF funds, 500+ stocks, and 5 types of commodities. This is an impressive range and means there are plenty of options for aspiring investors. The only noticeable absence is cryptocurrencies, which continue to grow in popularity.

Spreads & Commissions

UFX does not charge a commission on each trade. However, the broker charges a rollover fee (also known as an overnight swap). When a trader has a position open beyond 00:00 GMT, the rollover cost is assessed.

Forex spreads are priced at 2 – 4 pips, depending on the account. Gold, Platinum, and Islamic accounts are charged 2 pips; Standard at 3 pips; and Micro and Mini at 4 pips.

Accounts with no trading activity for 45 days are charged a $100 inactivity fee, as well as a 0.1 percent hedging fee.

Leverage Review

The maximum forex leverage available to retail traders is 1:30. In comparison, the highest available to professionals is up to 1:400. CFDs have a top leverage of 1:10, and professionals can unlock 1:30.

Note, higher leverage rates can lead to larger losses so beginners should be careful. See our guide to risk management for tips.

Mobile Trading

With the UFX mobile investing app, traders can trade financial markets directly from their smartphones or mobile devices. It also comes with MassInsights™ Technology and numerous advanced tools, including easy-to-follow stock quotes.

The mobile investing solution is available free of charge and can be downloaded directly to iPhone from the Apple App Store and to Android devices from Google Play Store (APK). You can even download it as an iPad app.

UFX Payment Methods

To facilitate the deposit and withdrawal of funds, UFX provides support for several payment methods. This includes transfers by credit cards, eWallets, and bank wire. Major credit cards such as VISA, Mastercard, Diners, Maestro, and American Express are accepted. For eWallets, traders can use Neteller, Skrill, Sofort, ELV, iDEAL, CUP, Qiwi, WebMoney, Paysafecard, Neosurf, Giropay, CashU, Bitcoin Payments, and POLi.

Note that UFX has a minimum payment requirement for deposits and withdrawals. For deposits, the minimum amount is $100 while for withdrawals, it is $25.

The transfer of funds is free and can take up to 10 business days to process. Day traders should be aware that their payment method or bank may choose to charge a fee.

Demo Account

The broker offers a $10,000 virtual cash demo account. You can utilize the demo account to hone your trading strategy. It provides complete access to all professional tools, including a live stream of market events and aggregated trader behavior.

To get started, load the UFX.com login page and ensure that your Personal Menu is set to Demo. You will then be credited with virtual cash, allowing you to trade UFX’s extensive asset selection.

Bonuses & Promos

While UFX does not offer trading bonuses to its clients, it does have a loyalty scheme called the “Cashback” program. The more you trade, the more you earn in rewards. In addition, the brokerage holds regular competitions where investors can win attractive prizes, including sports cars.

Regulation & Licensing

In terms of regulatory oversight, UFX comes under the jurisdiction of the Cyprus Securities Exchange Commission (CySEC). The broker is regulated under the license number 127/10.

As for the reputation that UFX earned over the years, the broker has been recognized by leading industry reviewers for its outstanding services and product offerings.

Additional Features

For users who deposit upwards of $1,000, the broker offers access to Trading Central, a market leader in independent third-party research. The Daily Market Review offered with all account types is a daily trading suggestion service based on Trading Central research.

Account Types

New joiners have a choice of six different types of live accounts:


Video library access
24 hour live support
Daily Market Review
Daily recommendations
Minimum deposit of $100
Minimum trading volume of $250


All features from the Micro account plus:

VIP trading support
Minimum deposit of $500
Minimum trading volume of $5,000


All features from the Mini account plus:

Exclusive updates
Minimum deposit of $1,000
Minimum trading volume of $10,000


All features from the Standard account plus:

Minimum deposit of $5,000
Minimum trading volume of $50,000


All features from the Gold account plus:

Minimum deposit of $10,000
Minimum trading volume of $100,000


All features from the Micro account plus:

Minimum deposit of $10,000
Minimum trading volume of $100,000

The broker also offers a Professional account. This unlocks further benefits such as lower leverage restrictions and an account manager. However, clients will lose their eligibility for the Investor Compensation Fund (ICF).


Advantages of opening a live UFX investing account include:

500+ stocks
Trading Central
Six different account types
Low minimum withdrawal
Demo account competitions


Downsides of registering with UFX include:

No cryptocurrency
Restricted in several countries
No negative balance protection
The website is dated, with pages and information missing

Opening Hours

The platform is available to traders 24/7, but the assets only trade when the respective markets are open.

The currency market is open from 5 PM EST on Sunday to 4 PM EST on Friday. The FX market’s capacity to operate 24 hours a day is thanks, in part, to the existence of many time zones.

On weekdays, the US stock markets regular trading hours are 9:30 AM to 4:00 PM EST, including the New York Stock Exchange (NYSE) and the Nasdaq Stock Market (Nasdaq). The London Stock Exchange (LSE) is open between 3 AM to 11:30 AM EST.

Customer Support

Customer support at UFX is available 24/7 through the live chat logo, web contact form, and the telephone icon located on the broker’s website. The team are able to help with any complaints traders have when they sign up, login, or even for users who wish to delete their account.

In terms of localized telephone support, UFX has a support representative in three different countries:

Cyprus +357 2503-0314
Germany +49 303-080-8240
Czech Republic +420 228-881-495

UFX also has won many awards such as “FX Broker of the Year” and “Best Forex Trading Tools – MassInsights™ Technology”.


UFX has an encryption layer for money transfers and stores clients’ funds in tier 1 institutions. The broker provides 3D secure payment processing to customers and is completely PCI compliant. They also utilize Verisign SSL technology and tiered backup systems in secure data centers in various locations.

With that said, potential day traders should be aware that some UFX London reviews suggest investors have had issues accessing and withdrawing profits.

UFX Verdict

UFX Global has a huge asset offering of 500+ stocks, which makes it appealing to aspiring day traders. The brokerage also has 24/7 customer support, a demo account, access to Trading Central, and six account types. Yet compared to other providers, such as Plus 500, the company still has a lot to improve on to make it a top-rated income generator, including crypto trading and the suite of analysis tools.

Accepted Countries

UFX accepts traders from Australia, Thailand, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use UFX from United States, United Kingdom, Canada.

Alternatives to UFX

If you are looking for alternatives to UFX we have compiled a list of the top 5 brokers that are similar to UFX below. This list of brokers like UFX is in order of similarity and only includes companies that accept traders from your location.

Fondex – Fondex is an award-winning forex and CFD broker with industry low trading costs.

LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.

ThinkMarkets – ThinkMarkets is a multi-regulated forex and CFD broker

Just2Trade – Just2Trade offer high tech trading on stocks and options with some of the lowest prices in the industry.

Hantec Markets – Hantec Markets is a multi-regulated online FX broker offering MT4 and a tailored service providing flexibility to suit any trader.


What Is The Minimum Deposit To Open A UFX Account?

The minimum deposit requirement at UFX is $100 for the Micro trading account. As you move up the account tiers, a higher initial payment is needed.

How Fast Will My UFX Withdrawal Request Be Processed?

The processing time for withdrawals depends on the method used. However, the typical time needed to process a withdrawal payment is 3-10 business days. This is considerably longer than some leading trading firms.

Is UFX A Legit Broker?

Yes, UFX is a reliable broker, operating since 2007. In addition, it is regulated by the CySEC – a trusted financial watchdog.

What Kind Of Trading Platform Does UFX Have?

There are two types of trading platforms available at UFX: MetaTrader 4 and the ParagonEx Webtrader. Both are suitable for new and experienced investors.

Does UFX Charge A Withdrawal Fee?

No, UFX does not impose a fee for withdrawals. However, traders may still be liable for any fees charged by the third-party payment provider or bank.

Is The UFX $50 No Deposit Bonus Still Available?

No – the UFX 50$ sign up bonus has now expired. The brokerage used to offer a 50 USD dollar bonus for all new traders.

Can You Still Trade On UFX?

Although investors from the UK, Canada, and the USA aren’t accepted, day traders from Dubai, UAE, Qatar, and many other countries are. See the official website for a list of restricted countries.

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