UFX Logo

In this UFX review, we will look into the broker’s offering in terms of its platform, customer service, and regulation. We will also take a look at the view from previous traders at UFX to get a better sense of whether this broker is indeed honest.

UFX is an international online CFD and Forex Broker that was established back in 2007. They obtained their CySec regulation in 2011 and operate under the holding company named Reliantco Investments Ltd. Having EU regulation is generally a good sign for our reviewers as it means that they should have met certain minimum standards.


Minimum Deposit$100
CashbacksUp to $105
Support FeaturesLive Chat, Email, Phone, WhatsApp, Viber
Demo AccountDemo
Deposit & Withdrawal MethodsVisa, Mastercard, Diners, PayPal, Bank Wire, Skrill
Account CurrenciesUSD, GBP, EUR
JurisdictionUK, Europe, Australia, Asia, Africa and South America
Languages AvailableArabic, Chinese, Dutch, English, French, German, Indonesian, Italian, Japanese, Portuguese, Russian, Spanish, Turkish
Investment TypesCFDs on Forex, Commodities, Indices, ETFs and Stocks
Additional ToolsMassInsights
Mobile TradingiOS, Android
FXaxe Rating

UFX Accounts

UFX offers a number of different account levels that are tailored to individual client’s preferences. These differ in terms of the service level that they provide as well as the type of platform they have the opportunity to trade.

  • Mini Trading Account. This is the entry level account at UFX and allows traders the basic functionality of the UFX platform. When you deposit $500 you are entitle to 24 hour live support, access to a video library as well as daily market recommendations.
  • Standard Trading Account.If you deposit a minimum of $1,000, you are entitle to the standard trading account. This includes all of the benefits of the Mini Trading Account as well as access to exclusive market updates as well as VIP trading support.
  • Gold Trading Account. The Gold account includes all of the benefits of the Standard account as well as access to the MT4 platform. This can be a better option for the more technical traders who like to have the most functionality. While on the Gold Trading Account, you will receive SMS trading alerts as well. The Gold account requires a minimum investment amount of $5,000.
  • Platinum Account. The top level account at UFX is the Platinum level account. This entitles the trader to all the benefits of the Gold account but with exclusive VIP access to the dedicated account managers. The minimum investment required for the platinum account is $10,000.
  • Islamic Account. For those traders who want to trade in accordance with the rules of Sharia law, this account is ideal for them. It requires a minimum deposit of $1,000.


UFX is regulated by the Cyprus Securities and exchange commission. Their registration number is 270726. Due to the fact that UFX has the CySec licence, this means that they are allowed to sell their services into the E.U. due to rules laid out by MiFid.

Our reviewers have dealt with a number of brokers in the past. While CySec has had some reputational issues, they have taken large steps to implement strict regulations for brokers who are less than honest. Hence, the CySec regulation did indeed provide us with a level of confidence.

For U.S. clients, unfortunately UFX does not have an SEC license.

Deposits and Withdrawals

UFX allows for a number of ways for the trader to deposit their funds. They accept all major credit cards as well as Skrill and Neteller. They also accept payments via Moneybookers and CashU. Our FXaxe reviewer tested out the payment process and the funds arrived within a few hours. The minimum deposit amount is $50.

We also found that UFX accepts Bitcoin deposits. This is indeed quite interesting as it could be a way for clients who want to avoid excessive fees to fund their accounts.

We would however advise the client to read their Terms and Conditions as it seems as if they have what one calls a maintenance fee of $50. It would be wise to read all of the conditions properly before you decide to send funds.

When it comes to withdrawal, a minimum amount of $70 is allowed. When our FXaxe reviewers decided to withdraw funds, it took 2 business days to hit our account which seems to be in line with industry standards.

UFX Trading Platform

UFX has 2 main trading platforms that they offer to clients which are based on the device that they are using as well as their client account level.

For the more technical traders, UFX offers the Metatrader4 (MT4) platform for those holding gold accounts and above. This is a well-known proprietary platform that allows the trader a range of sophisticated tools as well as the opportunity to customise the layout according to their own needs.

Web Based Platform

UFX Review

For those traders who do not know how to use the functionality of the MT4 platform, they can use the ParagonEX WebTrader platform. Thanks to UFXs MassInsights, the user can make trades with real time updates. This also allows for the trader to spot heavy BUY or SELL trend activity in a specific asset.

Another technical feature that we really liked with MassInsight’s stream was the functionality to spot rapid changes in the price of the asset and hence particularly volatile moments. MassInsights also includes general volume growth, as well as a comprehensive economic calendar.

In terms of available assets to trade, UFX lets you trade on 32 different currency pairs, a number of stocks, Commodities and Indices. Although UFX has all major currency pairs, some of the minor pairs appeared to have been excluded.

Mobile Platform

UFX Mobile

UFX also has a mobile trading app for those traders who like to monitor and trade their positions while on the go. The mobile app is available on both iOS and Android. This includes some of the same Mass Insights technology that is included in the Web platform.

With UFX, you are allowed a max leverage ratio of 1:400 which is quite high. This could be risky for the trader that is just beginning on the platform. It is always wise to remember that initial capital can be wiped out if market conditions move south and proper stops are not put in place at UFX.

Fees and Spreads

UFX claims to have fixed spreads and commissions on their trades. These can vary according to the asset but we did a bit of research on the price that we were getting on the platform compared to live market quotes on platforms such as Bloomberg.

When we were testing the mini trading account we were getting 4 pip difference on the EURUSD. However, we were told by UFX that this was the fixed spread for that account level. For the Gold and Platinum accounts the spreads are 2 and 3 pips respectively.

Another fee that the trader should be aware of is the overnight roll over fee. This is standard in the industry but can eat into your profits if you continually hold onto positions.

Customer Support

Our FXaxe reviewers wanted to test how responsive the UFX team were to customer support queries. UFX claims that they offer customer support 24 hours a day for 5 days a week via the online chat. While we were trading Asian currencies in the early morning we asked a few general support questions. It took about 5 minutes for them to respond but they were indeed helpful.

UFX also has localised telephone support in at least 23 different countries. This, however was only open during business hours. UFX also has all the other usual methods of support including email, Whatsapp and even Viber.

UFX Cashback

Something that we did find quite unique to UFX was their cashback rewards programme. Unlike most brokers who either offered bonuses or signing “free trades”, UFX created the cash back programme to reward long time traders.

UFX CashBack Scheme

Essentially, cashbacks are provided with every trade that is placed. This differs according to the asset that you are trading. Once you have placed a certain amount of trades with that asset, you are entitle to get back your cash back reward. While a great reward tool, we advise traders to only enter trades they intended to previously.


MT4 Laptop

The FXaxe team were fairly confident with our review of UFX. Indeed, their customer support and CySec regulation gave us a fair amount of confidence. Similarly, their MassInsights technology was quite impressive and allowed for profitable trading opportunities. We also found the MT4 trading functionality was a big pro for the broker.

There were a few issues that we had with UFX however. Firstly, there were a few hidden fees such as “inactivity” fees that were only disclosed in the terms and conditions. We also would have liked to have seen more minor forex pairs on offer.

We also found quite a few negative reviews online from disgruntled clients. However, it seems as if UFX was quite responsive to their criticism and tried to actively engage the clients.

Another downside of UFX is that due to regulation, they are unable to take US clients. If you are a U.S. trader and are looking to trade Forex online, we have a list of regulated U.S. brokers.

All in all, UFX seems to be a decent broker that offers a great trading product. They are regulated which should give some confidence to a trader when investing with them. If you are opening an account with UFX then you should decide on the account that is best suited to your trading experience. Reach out to us if you wanted some help in deciding this.