The UFX trading brokerage provides traders with their proprietary web-based trading platform called ParagonEx. This award winning trading platform is highly sophisticated and utilizes UFX’s unique MassInsights™ technology which offers a live stream of market events & aggregated trader behaviour. UFX is a large and successful international online trading brokerage with extensive experience in the financial markets. UFX has fulfilled its promise of imparting technical knowledge of trading among users. The platform has helped a lot in this field by making new traders into professional traders within a short span of time. The features and facilities like an economic calendar, elective professional clients, video lectures to train the news traders have made significant positive results.
UFX offers traders the ability to use charting tools with over 60 technical indicators. Many traders use the chart patterns available on UFX alongside news events in order to help determine when to buy and sell stock or share. UFX customers can contact support representatives via email, live chat, or telephone.
Danh mục bài viết
Unique Features
Needless to say, this information is extremely valuable to those experienced brokers that know what to do with it. Although this platform does not require a download, it only supports the latest versions of Google Chrome, Firefox, Safari (version 8+) and Internet Explorer (version 10+). There is also the possibility of downloading a mobile application of this platform. This will enable you to access demo mode, to set Stop Loss, Take Profit & Limit Orders and round the clock support.
At the moment, this broker does not offer any educational content on their website. They do go over some basics on their FAQ page, but there is no up to date information about the trading business. As for trading tools, one can find an economic calendar on UFX’s site as well as daily market reviews. As we’ve just mentioned, potential clients can have a look at UFX’s spreads on their Assets page. If you were to compare this company’s spreads to other popular brokers of the moment, UFX’s are definitely on the high side. For example, the popular currency pair EUR/USD has a spread of 4.0 Pips while GPB/USD has a spread of 5.0 Pips.
In this way, UFX has done a lot in educating the new traders by empowering them with the necessary tools required for trading. SMS alerts, recent updates are given to certain account types to have full interaction with the market and information about their trades. UFX has the prestige to win multiple trading awards in return for its services rendered to the people. Multiple types of accounts are offered in this platform that helps users to invest and earn accordingly. It has unrivaled customer support to assist users all over the world.
What are the UFX trading fees?
UFX also provides a wide range of account options, despite its relatively high spreads and fixed spreads. When selecting a broker, one of the pivotal factors to consider is the trading platform. A trading platform serves as your gateway to the markets, and without advanced tools and features, it’s essentially ineffective. UFX has some options but lacks a reliable and safe trading platform. Each account comes with different spreads, leverage options, and customer service levels.
Trading Account Types
According to the statistics, 75-89% of customers lose the funds invested and only 11-25% of traders earn a profit. Trading in futures and options carries substantial risk of loss and is not suitable for every investor. Prefer to work on MT5, but UFX provides this terminal on a deposit of 5000 USD.
Forex trading involves buying and selling currencies with the aim of making a profit from changes in their exchange rates. The forex market is the largest and most liquid financial market in the world, with an average daily trading volume of over $6 trillion. The UFX broker offers different promotions, but be aware of investing big money for more promotion money add to your UFX Trading account as online trading contacins risk of losing your capital.
- Please note that Forex Deposit Bonuses has financial relationships with some of the merchants mentioned here and may be compensated if consumers choose to utilise some of the links located throughout the content on this site.
- While conducting our due diligence, we searched for UFX’s presence in Tier 1 regulatory registers, such as the FCA, BaFin, or ASIC.
- Read our expert reviews, see our ratings and compare the best online trading platforms, features, fees, and more.
- The fact that the FCA has banned its services only adds to its tarnished reputation.
- Most traders say that funding on UFO is very fast, depends on the payment method chosen.
- When a trader places a trailing stop loss order, they set a percentage or a dollar amount below the current market price for a long position or above the current market price for a short position.
Mass insights tech helps the users to perform better with the help of AI-based techniques and methods in trading. The best way to do it in parts, so that the broker does not suspect that you want to withdraw your entire balance and close the account. Traders Union delivers a comparative evaluation of UFX in relation to other brokers in the cryptocurrency trading sphere.
Deposit and Withdrawal Methods
This ensures that the trader does ufx broker not suffer a loss greater than the amount they are willing to risk. Stop loss orders are commonly used in trading and investing to help manage risk and protect against losses. They can be used for both long and short positions and can be set at various levels depending on the trader’s risk tolerance and trading strategy. It is important to note that stop losses do not guarantee that losses will be limited to a specific amount.
A demo account is available, as well as a real cent account which allows you to start with little investment and risk. There is a fixed spread and a quite convenient trading platform without the need to install it on a computer. Everything suits me here, but if I missed something important, please tell me or correct it.
- In addition, a price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitability by placing well-planned trades.
- UFX provides a great facility to its users by providing multiple deposit methods and instant deposits.
- Compared to market makers, who act as a counterparty to their clients’ trades and may have a conflict of interest, STP brokers are seen as more transparent and reliable.
- However, the broker also developed its proprietary trading platform called ParagonEx web trader.
- They do go over some basics on their FAQ page, but there is no up to date information about the trading business.
- For beginner traders who want to test the waters before diving in the live market, the UFX demo account is free to use.
Now operating without oversight from major regulatory bodies, traders are questioning whether UFX remains a viable broker—or if it’s become a risk too big to ignore. Yet, traders should exercise caution due to their shady regulations and higher leverage and spreads. However, it’s worth noting that Paragonex can only be accessed via a web browser. This poses a considerable disadvantage, especially for experienced traders.
Just like all other platforms, UFX has launched mobile trading on mobile apps on the apple store and android store as well. The mobile application is easy to use and is full of the latest features. When the Traders Union answered what is UFX, they emphasized its focus on active trading with fixed spreads and high leverage, but passive strategies are also supported. Traders can emulate successful trades and use expert advisors for automation. This means that you will save some money when using this broker and will be able to put in more in your trading account. Forex, foreign exchange or FX, refers to the global market for currencies.
