UFX Reviews | The Broker in South Africa | The Best in SA

UFX may be a forex and CFD commercialism broker. they provide traders access to major markets like currencies, indices, commodities and shares. For traders fascinated by cryptocurrencies like Bitcoin, UFX is one in all the few brokers that conjointly provide cryptocurrency CFDs.

Pros

  • Segregates consumer funds
  • Established in 2007
  • Regulated by CySEC
  • deposit from $500

Cons

  • Doesn’t permit scalping
  • Not FCA Regulated

Rank
Brokers
Min.Deposit
Rating
Open Account
3
UFX forex trading

Min.Deposit
R4000
Read Review
Sign Up

To open a live account, you’ll want a minimum deposit of a minimum of $500. Alternatively, UFX offers a demo account that you simply will use to observe and inform yourself with their platform.Regulated by CySEC (Licence: 127/10). UFX puts all consumer funds in a very lily-white checking account and uses tier-1 banks for this.UFX has been established since 2007, and have a head workplace in Republic of Vanuatu.

Before we have a tendency to dive into a number of the a lot of elaborated aspects of UFX ’s spreads, fees,platforms and commercialism options, you’ll wish to open UFX ’s web site in a very new tab by clicking the button below so as to check the most recent info directly from UFX.

What area unit UFX’s spreads & fees?

Like most brokers, UFX takes a fee from the unfold, which is that the distinction between the obtain associated sell value of an instrument.The spreads displayed below area unit supported the minimum fastened spreads listed on UFX’s web site. The colour bars show however competitive UFX’ spreads area unit as compared to different well-liked brokers featured on BrokerNotes.Spreads area unit dynamic and area unit for informational functions solely. As you’ll be able to see, UFX ‘s minimum unfold for commercialism EUR/USD is four.0 pips – that is comparatively high compared to average EUR/USD unfold of zero.82 pips.

Below may be a breakdown of what proportion it might value you to trade one ton of EUR/USD with UFX vs. similar brokers.

How much will UFX charge to trade one ton of EUR/USD?

If you were to shop for one customary ton of EUR/USD (100k units) with UFX at associate rate of exchange of one.1719 and then sell it ensuing day at an equivalent value you’d doubtless pay $40. Here’s a rough breakdown of the fees and the way this compares against XTB Index .

What are you able to trade with UFX?

UFX offers over 484 totally different instruments to trade, together with over forty nine currency pairs. We’ve summarised all of the various styles of instruments offered by UFX below, along with the instruments offered by XTB and town Index for comparison.

What’s the UFX commercialism expertise like?

1) Platforms and apps

UFX offers the popular MT4 forex commercialism platform. to check a listing of the highest MT4 brokers, see our comparison of MT4 brokers. UFX conjointly provide their custom MassInsights platform.

2) Corporal punishment Trades

UFX permits you to execute a minimum trade of $125. this might vary reckoning on the account you open. The maximum trade needs vary reckoning on the bargainer and also the instrument. As UFX provide standard pressure execution,you’ll be able to expect tighter spreads with a lot of transparency over the value you‘re paying to execute your trades.

As a market maker, UFX might have lower entry needs compared to associate ECN broker

WHO advantages from a better volume of trades and usually has larger capital and minimum trade needs. Market manufacturers usually have a lower minimum deposit, smaller minimum trade needs and no commission on trades.

As with most brokers, margin needs do vary reckoning on the bargainer, accounts and instruments. You can see the most recent margin needs on their web site.UFX conjointly offers variety of helpful risk management options, like stop losses (with trailing stops),limit orders negative balance protection value alerts and far a lot of. You’ll be able to see all of the account options offered by UFX here.

Finally, we’ve listed a number of the popular funding ways that UFX offers its traders on the proper.

Funding methods:

  • Credit cards
  • Bank Transfer
  • Payoneer
  • Neteller
  • American specific

Client support

UFX support a good vary of languages together with Arabic, English, French, Portuguese, and Russian.UFX incorporates a BrokerNotes triple abdominal aortic aneurysm support rating as a result of they provide a good vary of languages and support choices.

What you’ll got to open associate account with UFX

As UFX is regulated by CySEC , each new consumer should pass many basic compliance checks to confirm that you simply understand the risks of commercialism and area unit allowed to trade. after you open associate account, you’ll doubtless be asked for the subsequent, thus it’s sensible to own these handy:

  • A scanned color copy of your passport, driver’s license or national ID
  • A utility bill or financial statement from the past 3 months showing your address
  • You’ll conjointly got to answer many basic compliance inquiries to ensure what proportion commercialism expertise you have got,
  • Thus it’s best to place aside a minimum of ten minutes just about to complete the account gap method.

While you may be ready to explore UFX’s platform right now, it’s vital to notice that you simply won’t be ready to build any trades till you pass compliance, which may take up to many days, reckoning on your scenario.

More Brokers in South Africa

Rank
Brokers
Min.Deposit
Open Account
1
Markets forex trading in South Africa

Min.Deposit
R1500
Sign Up
2
24 Option forex trading

Min.Deposit
R2900
Sign Up
3
UFX forex trading

Min.Deposit
R4000
Sign Up
4
cm trading forex

Min.Deposit
R4000
Sign Up
5
cm trading forex

Min.Deposit
$25
Sign Up
6
cm trading forex

Min.Deposit
R 1500
Sign Up
7
xm trading forex

Min.Deposit
R 100
Sign Up