UFX Review & Author's Comment

UFX is regulated by CySEC and headquartered in Cyprus. The firm has been in the industry since 2010 so that is a check on pros side. I should praise two features that UFX is offering for traders; fixed spreads and MassInsights Technology. There are few forex brokers who offer fixed spreads and UFX is one of them. But with one caveat; no floating spread option at all, which means if you like to open an account and trade with UFX, you will have to trade on fixed spreads on any instrument including forex, ETFs, commodities, shares and indices. Besides, I should add that 3 pips spread for EURUSD is high even for fixed spread accounts.

MassInsights Technology is a great tool provided by UFX for its clients where you can see the current market sentiment & volatility and follow market events & news instantly. It could do a lot of help especially for newbie traders since the user is able to get technical and fundamental insights by a single tool.

Now is time to talk about UFX’s cons. First three things that I would say high spreads, high spreads, high spreads… Plus, you have to deposit minimum $1000 in order to be able to try and trade on a standard account. So high spreads and minimum deposit requirements are two major drawbacks of UFX and they are important.