Top 3 Forex Brokers
Beware UFX is a Non-Regulated broker. It is NOT SAFE to trade.
- Our Review
- UFX User Reviews
- UFX News
Is UFX Scam or Legit Broker?
UFX is not officially registered with any industry authority to offer trading services, and 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. 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.
About UFX
🗺️ Registered in Vanuatu 🗺️ Type of License Offshore License 🛡️ Is UFX safe to trade No 🗺️ Recommended Licenses FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 🖥 Alternative Broker FP Markets - licensed by ASIC in Australia
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 specializing 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 a priority, while all clients' funds are always held in segregated accounts.
- In addition, the broker states numerous industry awards that recognize them as an “FX Broker of the Year” or “Best Trading Platform and Tools”.
- The VFSC regulator does not require strict proof of the company background, nor checks on the implementation of the secure fund management or operation guidelines, does not require regular reporting, and further on never imposes fines in case of fraud operation. You can read more about Forex Trading: Why Avoid Brokers from Vanuatu in our article.
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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 deposit 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 a Micro account. With the leverage of 400:1 (Also read about MEX Exchange's leverage by link), 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 recognized 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 to trade anytime.
UFX Review Conclusion
We strongly advise avoiding offshore brokers like UFX and opening a trading account only with brokers regulated by 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 FP Markets and TMGM.
UFX Update
We found the UFX website inactive and unavailable to reach. This means the broker no longer operates. However, it is best to avoid and stay alert if any proposals show up.
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UFX is a scam. NEVER, I say NEVER deal with them. Not only will they not return your funds, but folks from their end will contact you non stop asking you to invest in their company. TERRIBLE experience with UFX and their subsidiaries who will call you under different names. If there was a ZERO rating, I would give them that. Please don’t fall for their promises! Luckily for me I was able to recover my funds through Chargebacksecured * com thanks so much I can’t thank you enough.
I was scammed as well in bitcoin investment over $70k and I was able to get back my money through the help of skyline-recovery com
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 $60000usd and just we need to find right exit points blar blast blaa . Now they will stole my money and will need more money .they didn’t offer me training on forex . They did deals opposite to my orders.they did illegal presentation of their terms and contracts by deceiving me.they used telephone number from London and they are in Israel.their employees are not certified. They’ve many verdicts before.
They stole 71000$ 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
UFX is a scam firm owned by Haim toledano Israeli citizen they are professional scammers steal people money and destroy families
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