1. What is UFX?
  2. Is UFX regulated?
  3. UFX in India
  4. UFX in the USA
  5. Deposit & Withdrawal
  6. Apps
  7. Conclusion

Is UFX a scam or a legit broker?

The UFX Markets offering, the company is not officially registered with any industry authority to offer trading services, while its performance is not overseen or supervised by anyone. Moreover, the broker was previously listed as a trading scam while investors were warned by its unregulated nature and use of marketing techniques to attract traders.

What is UFX?

UFX Global Limited is a company incorporated in the Republic of Vanuatu that operates under the trading name UFX Markets or UFX, yet confuses investors with the statement about its offices in Germany, Czech and UK. UFX is an online trading brokerage specialising in currencies trading, and commodities, stocks, and indices in the form of CFDs. The UFX broker claims it’s providing a secure trading environment as #1 priority, while all clients funds are always held in segregated accounts. In addition, the broker states the numerous industry awards that recognize them as an “FX Broker of the Year” or “Best Trading Platform and Tools”.

About UFX
🗺️ Registered inVanuatu
🗺️ Type of LicenseOffshore License
🛡️ Is UFX safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

Licenses & Regulation

Is UFX regulated?

UFX is owned by UFX Global Limited which is an offshore company registered in Vanuatu and claims to be registered with a Vanuatu Financial Services Commission (VFSC) license.

The Vanuatu jurisdiction gained its popularity among the investors and business owners in the Forex industry looking to become a regulated broker, yet obtain its status through a simplified process and operate almost without supervision. The VFSC regulator does not require strict proof of the company background, nor check on the implementation of the secure fund management or operation guidelines, does not require regular reporting and further on never impose fines in case of the fraud operation. You can read more about Forex Trading: Why Avoid Brokers from Vanuatu in our article.

UFX Review

New Zealand’s regulator Financial Markets Authority has issued a warning against UFX:

“We believe the registration and regulation information claimed on the website is false and misleading. We are concerned that UFX Global Limited could be involved in a scam. It (www.ufx.com) is based overseas with no presence in New Zealand and does not appear to be subject to regulation by an overseas regulator.”

UFX in India

UFX does not offer its services in India. Most likely this is because it is not regulated in India, and cannot process payments. Traders from India are blocked from opening an account with UFX.

UFX in the USA

UFX does not accept traders residing in the US at this time.

Deposit & Withdrawal

UFX offers a wide variety of international and local deposits methods, including credit cards, debit cards, Skrill, CashU, Neteller and Wire Transfer. In order to enjoy all essential services, the required minimum deposit is US$100 for Micro account. With leverage of 400:1, this gives traders control of $200,000 in trading capital. UFX does not charge fees on deposits.

Withdrawals can only be processed and transferred via the payment method traders used to make their deposit. Withdrawals take 3-10 business days to process. UFX does not charge fees for withdrawals. However, any transfer fees imposed by banks are the trader’s responsibility.

Apps

UFX offers both MetaTrader4 (MT4) and the award-winning ParagonEx Web Trader. The ParagonEx trading platform was designed in-house, is recognised as the best in the market and provides traders with all the advantages of MetaTrader in a very simple and intuitive way. UFX provides a mobile trading platform for the traders convenience which they can trade anytime.

Conclusion

The negative reviews and “guilty” verdicts in UFX reputation is something common as well, while it all seems the broker still attracts vast investors.

We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and XM.com.

You can also share your trading experience with UFX by commenting on this review.

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3 responses to “UFX”

  1. UFX is a scam firm owned by Haim toledano Israeli citizen they are professional scammers steal people money and destroy families
    Take care and share

  2. They stole 71000$ from me
    Scammers steal people money and destroy families
    UFX is a criminal firm in Tel Aviv hamasger street nine
    They deceive you initially by fake profits then steal everything
    Scammers steal people money and destroy families

  3. The story started at21 aug 2019. I saw this ad on Facebook,I signed in just to see what it was all about but then did nothing further.then,so many calls from Jad Jabreen,UFX employee who convinced me to open an account on UFX.then Ghinwa Kasem another employee in UFX called and told me not to worry about losing my money in UFX and I told her I know nothing on forex but she told me they will assist me and will assign an account manager named Amir Hassan and he will do everything instead of you to win money.They swore that deals will be done at very low risk.they did not train me at all and did offer to train me .they made me to deposit an initial $6600 USD and Amir did for me some deals which showed profits just to trust them and he did an initial withdrawals for $25 usd to trust them more.but when I tried to withdraw my money because I read that UFX is a scam they refused and did many call to convince me that this is not true and a senior Employee named Fakher Barakat called me and swore that this is not true and that their competitors are doing this rumors.he convinced me to transfer $60000 to them through the KAJ KAPITAL count in commercial bank of Dubai and for 3 days he did a profit of 10 thousand USD $ by doing many deals in one day.then he did a very big and bad deals on oil and NZD/FCH although I told him that it is risky and he assured me and said,don’t worry we are safe.then suddenly my account showed profit loss and he put my account into Hedge . I didn’t even know what that even meant and asked him and he told me that next week you will make $60000usd and just we need to find right exit points blar blast blaa . Now they will stole my money and will need more money .they didn’t offer me training on forex . They did deals opposite to my orders.they did illegal presentation of their terms and contracts by deceiving me.they used telephone number from London and they are in Israel.their employees are not certified. They’ve many verdicts before.

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