UFX Markets Review
|Support Types||Live Chat , Email , Telephone|
|Languages||English , Italian , Chinese + 10 more|
|Trading Platform||Meta Trader 4|
|Minimum 1st Deposit||$100|
|Minimum Account Size||$100|
|Minimum Trade Amount||500 (on the smallest account)|
|Free Demo Account||Open Demo|
|Deposit Methods||VISA , Moneybookers , Bank transfer , CashU|
|US Traders Allowed|
Dating back to 2011, UFX Markets is a relatively new broker that, despite their young age, have already established themselves as a force to be reckoned with in the online currency exchange industry. With headquarters in Cyprus, and regulated by CySec, UFX Markets is a safe option for traders. The website is available in English, German, Spanish, Italian and over ten other languages, making it a good broker for customers worldwide.
When first visiting the website, it becomes obvious that UFX Markets has chosen to focus on a broad spectrum of traders. It’s definitely not a broker that is streamlined towards a certain target group, such as professional traders. Instead, it looks like a good place to trade for everyone, regardless of your skill level. UFX Markets has an educational section on their website, in which visitors can find both basic and advanced guides to Forex trading.
As for accounts, UFX Markets have followed the popular concept that alot of the to brokers are using today. Depending on the size of your deposit, players are given a certain type of account. The Mini and Micro accounts are the most basic, and is for traders depositing between $100-1.000. These two accounts has limited benefits compared to the others, but that being said, it doesn’t mean that they aren’t good. They still offer a wide range off features such as Daily market reports, over 45 currency pairs as well as commoditites and a leverage of 1:200, so it should be the perfect account for the beginner.
For more advanced traders, trading with larger sums, there are other accounts that will give access to more features. The Standard and Advanced accounts requires higher deposits, but they also offer more benefits, most notably the tight spreads that can be as low as 2 pips on the Advanced accounts.
They also offer new clients to open a free demo account, where they can trade without risk of losing money, which is probably the optimal way of learning how to analyze and understand the currency exchange market. With the demo account, you still get access to all the features available to those who are trading with real money account.
UFX Markets offers their clients a world class trading platform, the Meta Trader 4, that has become the most used trading system in the Forex trading industry, known for it’s advanced features and usability. With such a popular platform, experienced traders will have the benefit of not having to learn a new system, thus making the change of broker much easier.
UFX Market has, despite being a fairly new broker, also managed to live up to the expectations one would have on customer service. You can reach the support via a range of methods, such as phone, email and chat support, making it easy to resolve any issues that might come up along the way. The only thing that we really miss with this broker is a mobile trading platform. Although it’s not completely vital to have one, most of the well reputed brokers today have the feature.