We have reviewed the UFX trading platform and its suitability as one option of the many financial trading brokers available.
The UFX work on the principle of alignment of interests and are identified as an STP (Straight Through Processing) broker. Being identified as an STP broker means that they don’t process conflicting orders, which are opposing trades to yours.
Personalised coaching sessions
Probably the biggest benefit of using UFX is that the company helps you to make sense of financial markets. UFX is probably the best trading platform for you if you were not finance major in college and face difficulties in understanding the ever so complex jargons of the financial world. They provide personalized coaching sessions to its traders. It is important to understand the difference between coaching sessions and trading advice. UFX provides free of cost training sessions to its traders so that they can better understand the complexities of the market and the platform they are using. The sessions only cover technical aspects of the trade and experts don’t give out any trading advices or insights about the market. At the end of the day, they will help you in getting equipped with the required skills but you will have to make decisions about your investments by yourself.
Variety of accounts
UFX understands that every user is different and therefore they offer a wide selection of accounts so that everyone can find something suitable according to their specific needs. Traders can choose from a range of six different accounts that are Micro, Mini, Standard, Gold, Platinum and Islamic. You can read more about the individual accounts and the services offered over here.
Risk associated with the CFDs
UFX clearly mentions that trading in CFDs is highly risky and that the trader should only invest the amount after calculating a probable loss that he is ready to bear. Forex trading involves risks and is suitable for individuals who are not risk-averse and are experienced in taking calculated risks. The maximum loss that any trader can incur is the amount of the amount of the money paid by the individual to the company, including rolling fees for all deals.
Basics of transactions
Currently UFX offers a wide variety of tradeable items that includes premium assets, currencies, stocks, indices and commodities. UFX trading platform is compatible with iPhone and Android software. In addition to the mobile application trading platforms, UFX also provides services for people who wish to pursue the trade through telephone orders. The minimum transaction size allotted by the company is US$ 25. The major currencies, in which most of the trade takes place at UFX are US Dollar (USD), Japanese Yen (JPY), British Pound (GBP), Euro (EUR) and Swiss Franc (CHF).
Final UFX Review Verdict
It is a fair trading platform that provides decent services and makes sure that the terms and conditions are declared to the user beforehand. They provide training sessions to the users who are not familiar with the dealings of a financial market. However, they don’t provide any advice on investments or trading. Overall, Forex trading is a lucrative industry that yields high returns but it also comes at a cost of high risk.
CFD
Min. Deposit: $500
Min. Trade: $125
Max. Trade: no limit
Forex: on deposit of $100 1:20 on deposit from $150 1:400 Currencies: 1:400 Indices:1:20
1%-2%
The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.
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