UFX Bank provides one of the best online Forex broker services on the market. They boast over 40 currency pairs and even include commodities trading. The customer support is available 24 hours a day and they offer a broad range of trading tools and customer features. The minimum deposit at UFX Bank is only $100, which is perfect for the low budget or beginning trader. They are a company that should be strongly considered when choosing an online Forex broker.
UFXBank is a UK based brokerage house comprising of a quality team of Finance professionals who share over 50 years combined experience in the Forex industry. Their trading platform is provided by ParagonEx, which is an incredibly reliable browser based platform that allows users access from just about anywhere where there is an internet connection. UFX Bank provides the most up to date charts and feeds which, as any experienced Forex trader knows, is essential to success in this industry. Through the UFX Bank website clients have access to Forex tutorials, daily outlook videos, daily market updates, trade recommendations, tips, and strategies. This can be very useful to market participants of all levels. Gold and platinum clients also have additional features available to them, such as live market alerts and market signals sent via SMS.
Here is a brief list of features and benefits UFX Bank provides its customers:
- No commissions and no fees
- Fixed market spreads
- Over 40 Currency Pairs
- Commodities trading
- Binary options trading
- $100 Minimum deposit
- Remote assistance
- One-on-one chat with Forex experts
- Remote assistance and personal coaching through trading
- Daily market update and trading tips, including signals, market reports, and other useful tools
- Live market alerts and signals via SMS text message…(Advanced Traders)
- Browser-based trading platform
- Advanced site security
- Great selection of payment options
Commission, Fees, and Fixed Market Spreads
UFX Bank does not charge any commission or fees to their clients. The company makes money on the spread, meaning that they make their money on the difference between the buy and sell prices. They offer a fixed spread, so that regardless of how the market is moving on a given day, the spread for each currency pair will remain at a fixed amount. So, if the fixed spread on the EUR/USD is 3 pips, any time you make a trade, you only have to pay 3 pips on the pair.
There are over 40 currency pairs available for trading on their platform. There are brokers who offer more and many that offer less, but you’ll find that the vast majority of traders stay away from the more obscure currencies because of the lack of information available on them. They offer all of the necessary currency pairs and then some.
One of the great features of UFX Bank is that in addition to currency markets, they also offer traders the option of trading in commodities. The last few years have seen huge fluctuations for oil, gold, and other commodity prices, making this is an amazing advantage because it allows us to get in on a market that enjoys considerable movement.
Binary options trading is an additional trading option, which allows traders to enter the market on an over-under position through a given time frame that yields high return percentages. This is certainly one of the major features that sets this company apart from others.
Low Minimum Deposit
This is a nice option for the low-budget trader or the beginner who wants to start off small. Most traders will probably find that a $100 investment makes it very difficult to produce the kind of returns one expects in trading Forex. On the other hand, with 200:1 leverage, it still allows a trader to experience trading in the market with some risk versus trading on a demo (something UFX also offers).
Remote Assistance and Personal Coaching
This could be the main feature that distinguishes UFX Bank’s unique approach to helping traders understand their trading platform and ultimately succeed.
Imagine being able to have a support member show you the features and functions of your platform on your own desktop - that is what remote assistance is all about. In addition to this, UFX Bank will provide you with a personal coach to walk you through your first trades to make sure that you understand how the system works. Now, that’s the type of dedicated support a person can look forward to!
Trading Tools including SMS signals and Alerts
UFX Bank offers daily market updates and outlooks, weekly reviews, daily recommendations, technical and fundamental Forex analysis, charts, graphs, one-on-one expert advice, and other helpful tools. Many Forex sites also provide their own analysis and other tools for trading, but it’s nice to know that UFX Bank does its part to provide all the tools necessary for traders of all levels. For advanced traders, they also offer market signals and live market alerts via SMS text. This allows a trader to remain aware of market conditions even if he’s unable to monitor them throughout the day.
ParagonEX is the platform of choice for UFX Bank. This is an advanced and highly reliable web/browser based platform that provides accessibility through their website, as opposed to a downloadable client that some Forex brokers choose to employ. The main advantage here is that you can access the trading platform anywhere you have internet access instead of being limited to anywhere you have access to your trading client.
Safety and security have always been a paramount concern in the minds of traders. Most of us would never even consider an FX broker unless we were convinced of its accountability and honesty in financial statements and interactions with the customer. To that end, UFX Bank implements the industry standard 128-bit SSL encryption system, along with multiple backup facilities at server farms which are protected by armed guards at all times, as well as a sophisticated system of firewalls in order to prevent any unauthorized access to client or company information.
With so many options of where to trade out there in the world of Forex, it is refreshing to come across a brand of broker as well-rounded as UFX Bank. They seem to be offering the most competitive product on the market today. The services they provide many Forex brokers do not, and those that do offer similar services, usually have minimum deposits in excess of $500. While it may be possible to find another broker with a lower minimum deposit or maybe a slightly better spread on some currency pair, the overall product and service you are receiving with UFX is hard to beat. UFX Bank is a great company with a high-quality product and a solid reputation in the Forex industry.
||Bank wire, Credit/Debit cards, Paypal, Moneybookers, Western Union, WebMoney, Netseller
|Minimum account size:
||Minimum lot size:
||3 pips on EUR/USD