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Regulated: Regulated by the FSC
Min Deposit: $100
Min Trade Amount: 0.01 Lots
US Clients:
Bonus: 30% Welcome Bonus!
Leverage: 200:1
Free Demo Account:
Trading Platform: MT4, ParagonEX Trader
Payment METHOD NAME Charge Time

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Full Review

About UFXMarkets

UFXMarkets is a Belize-based brokerage brand founded in 2007. The company is licensed in Belize by the International Financial Services Commission with license number 51.

 

Special Offers and Bonuses

Several offers and bonuses are available on UFXMARKETS.

a)    There is a 30% welcome bonus up to a maximum of $5000 for account deposits made for the first time. Deposits must start from $500 to qualify for this bonus.

b)    There is a Refer-a-Friend bonus which is given to those who refer live account holders to the UFXMARKETS platform. The maximum payable amount under this program is $1000. The more traders who open live accounts are referred, the more the referrer gets.

c)     Redeposit bonuses are also available. Exact amounts must be negotiated with the respective account managers.

 

Types of Trading Accounts

The following account types are obtainable on UFXMARKETS:

a)    Micro Account: Micro accounts attract a minimum deposit of $100 to $499, with leverage of 200:1. The minimum trade size is $1,000 volume (0.01 lots). Traders can use expert advisors and hedging as a trading strategy.

b)    Mini Account: The mini-account allows traders to open an on-line brokerage account with minimum deposit of $500 to $999. The leverage requirement is 200:1, and this account also comes with a minimum trade size of 0.05 lots.

c)     Standard Account: Standard account holders can trade as many as 63 assets whilst enjoying the benefits of a full customer support package. The minimum deposit on this account type is $1,000 to $4,999. Leverage is also set at a maximum 200:1. Traders get access a personnel coaching service and 24 hour live customer support. Traders get all the benefits and features of the Mini account, plus being able to trade a minimum of 0.1 lots as trade size.

d)    Gold Account: The Gold account type gives traders VIP level customer support, and allows them to open accounts with a minimum deposit of $5,000 to $9,999. Traders get to enjoy all the benefits of our Standard account plus the services of a personal account manager. Traders also get much reduced fixed spreads. The minimum trade volume is 0.25 lots with a leverage of 200:1.

e)    Platinum Account: The Platinum account type allows traders to gain access to special packages such as the use of the Autochartist software. The minimum deposit is $10,000 and spreads offered are the lowest available in the market. The minimum trade volume is 0.5 lots, with a 200:1 leverage.

f)     Islamic Account: This is the account type which conforms with Islamic principles of investment, being a swap free account. Traders get the same benefits as Mini account holders, with a minimum deposit of $1,000 and a minimum trade volume of 0.1 lots.

 

Trading Platform Features

Platforms are the gateway to the forex market, and UFXMARKETS offers the following platforms to its clients:

a)    MT4: UFXMARKETS provides its clients with the MetaTrader 4 platform.

b)    The ParagonEX Trader

 

Commissions and Spreads

When trading currencies on UFXMARKETS, traders can expect to get the following spreads shown in this table below. As we can see, the spreads are different for each account type.

Currencies Micro Mini Standard Gold Platinum
EUR/USD 4 4 3 2 2
GBP/USD 5 5 5 4 3
USD/CHF 5 5 4 4 3
USD/CAD 6 6 5 5 4
USD/JPY 5 5 4 4 3
AUD/USD 5 5 4 4 3
NZD/USD 7 7 6 5 5
EUR/GBP 7 6 5 5 4
EUR/JPY 6 5 4 4 3
EUR/CAD 13 13 12 11 10
EUR/AUD 13 12 11 10 9
EUR/NZD 30 20 15 13 12
EUR/CHF 7 6 5 5 4
GBP/JPY 11 10 9 8 7
GBP/CAD 16 15 12 11 10
GBP/AUD 16 15 12 11 10
GBP/NZD 50 40 35 30 25
GBP/CHF 11 10 9 9 8
AUD/JPY 20 10 9 8 7
CAD/JPY 20 11 10 9 8
CHF/JPY 8 7 6 6 5
NZD/JPY 20 11 10 9 8
AUD/NZD 16 15 13 12 10
CAD/CHF 16 15 13 12 10
AUD/CAD 11 10 9 8 7
NZD/CAD 18 15 13 12 10
NZD/CHF 18 15 13 12 10
AUD/CHF 11 10 9 8 7
USD/ZAR 180 150 130 120 100
USD/TRY 18 16 15 14 12
EUR/TRY 35 32 30 28 25
USD/CNY 75 72 70 65 60
USD/RUB 45 40 35 30 25
EUR/RON 180 160 140 120 100
USD/INR 40 35 30 25 20
EUR/INR 30 26 24 22 20
GBP/INR 30 26 24 22 20
USD/NOK 70 60 55 50 40
USD/SEK 120 100 80 70 50

 

Charting Packages

All platforms come with interactive charting packages. In addition, UFXMARKETS has developed a number of tools which can be applied to the charts. These tools include the Autochartist Plug-in for MT4, and trading widgets such as the Fibo calculator, currency calculator, pip calculator and currency converter.

 

Education and Demo Accounts

UFXMARKETS has an extensive forex trading course for beginners and advanced traders. This course is available on the UFXMARKETS website. There is also a facility for 1-on-1 tutorials with an in-house forex expert.

In addition, there is a platform tutorial which teaches new traders how to use the UFXMARKETS platforms on a step-by-step basis. The educational suite is rounded off by a video library of lessons as well as a forex glossary so new traders can understand the forex lingo.

Traders on UFXMARKETS also get access to a demo account which is free and unlimited. This is irrespective of the account type or platform used.

 

Customer Service

The customer service desk of UFXMARKETS can be reached through the following means:

a)        PHONE:

UNITED KINGDOM >>> Phone:     +44.203.608.1558 and +44 2081500778

FRANCE >>> Phone:    +33.97.518.0057

GERMANY >>> Phone:    +49.303.080.8240

ITALY >>> Phone:    +39.029.475.0321

RUSSIA >>> Phone:    +7.499.638.5977

TURKEY >>> Phone:    +90.212.414.1731

ROMANIA >>> Phone:    +40.31.814.2263

UAE >>> Phone:    +800.035.702.407

BAHRAIN>>> Phone:    +973.1619.9863

JAPAN >>> Phone:    +81.34.578.0016

HONG KONG >>> Phone:    +852.5808.2484

SINGAPORE >>> Phone:    +65.3158.1715

b)        Online Email contact form

c)         Live Chat – available 24/5

 

Deposit and Withdrawals

Deposits and withdrawals can be performed on the UFXMARKETS platform using bank wires, credit cards and e-payment methods.

a)    Bank wires: Available to traders worldwide, traders can transfer funds using direct deposits, online banking or telegraphic transfers.

b)    Credit cards: UFXMarkets accepts Visa, Delta, MasterCard, Diner’s Club. Funding is instant. Visa Electron is a debit card issued by VISA which permits the trader to deposit and withdraw funds that are already in your account.

c)     Skrill: With Skrill, several payment options can all be connected to the Skrill account; bank account, credit card, debit card can all be connected. Skrill therefore serves as a Digital Wallet.

d)    CashU: This is an e-payment method used in Arabic-speaking areas. Used widely in the Middle East and North Africa.

e)    Poli and Sofort are other e-payment methods that allow traders to deposit funds with their cards.

 

Deposit Limits

The minimum and maximum deposit limits on UFXMARKETS are dictated by the transaction methods used.

 

Withdrawal Limits

There are no minimum or maximum withdrawal limits except the ones imposed for certain methods of transaction.  Withdrawals are sent to the same method of transaction used for the deposit of initial funds received. The recipient’s name on withdrawal requests must match that of the account holder as well names supplied on personal and residence identification documents.

 

Conclusion

UFXMARKETS has a very good educational base for those who are new to forex. The company has also been able to setup different account types, allowing traders to identify which account types will be better suited to their trading styles. Traders should take up this opportunity to make the best of the opportunity provided by UFXMARKETS.