Looking through the many online brokers that allow cryptocurrency trading along with many other assets, it is clear that every broker has something unique about it. Some brokers have great trading platforms, some offer lots of tradable assets, and some have great features overall. If you look at UFX, you will have to put it in the last category i.e. great features overall. This broker offers tremendous flexibility to the traders in many ways. From its own trading platform to some of the best trading conditions, UFX remains one of the best online brokers and is destined to grow even stronger in the coming times.
Let’s find more about this broker.
An Introduction to UFX
It is one of the online brokers that started launching at a time when online trading was gaining popularity. Today, the platform has been around for more than 12 years. Since 2007, its level of services in terms of the trading platform and trading conditions has only been rising. It is a fully regulated and licensed entity, which should give you the peace of mind as a trader. Whether it is about your money or the information you provide when you sign up, you can have a sense of security. Vanuatu Financial Services Commission is the entity that regulates UFX. The best thing is that the license number is there on the website for you to see.
As stated earlier, the services provided by this broker have only gotten better with time. The speaking proof of that is the number of awards the broker has received along the way. The latest award was given to the company in 2017 for its trading platform. There is no doubt that its trading platform is one of the best that you can expect from hundreds and thousands of online brokers. The company also ensures that it protects your information and its PCI compliance is a proof of that. It encrypts your information so it is safe from anyone trying to gain unauthorized access to it.
There is an entire section on the website that talks about all the safety features that the broker has in place to ensure the security of trading for all traders. It has proper SSL certificates on the website and fully guarded servers to ensure no one tries to access them to steal information. in short, the company pays a lot of attention to the security side, which remains one of the top concerns for anyone who wishes to trade online.
UFX and Its Revolutionary Trading Platform
The trading platform from UFX is one of the things that make it better than most other brokers competing with it. If you look at a few online brokers, you will realize that most of them try to take advantage of the MetaTrader 4 platform. There is no doubt that MT4 is one of the best trading platforms of the world, but it is also the most commonly used ones. What that means is that when a broker only has this platform for its traders, the broker is playing safe. You get access to the MT4 platform when you sign up with UFX. If your trading style matches this trading platform, you will be glad to know that it is available for you.
However, the best thing about UFX is MassInsights. This is the trading platform that has been developed by the broker for its traders. Not many brokers take the pain of developing a complete trading platform for their traders because it is an expensive task. It is amazing that not only has UFX developed MassInsights but the broker has also received an award for its trading technology. It is one of the most user-friendly trading platforms you can find today. Everything is clear and easy to understand on this platform even for those who are trading for the first time.
This trading platform is available in all the different formats based on the needs of the modern traders. If you are often switching between devices and are traveling around the world, you would want the web-based version of the software. On the other hand, if you like to trade using your mobile devices, you can download the mobile application too. The mobile application is available for Android as well as iOS devices. All the important indicators needed for safe trading are available on the website. These indicators are just as useful for experienced traders as they are for new traders.
Some of the most useful indicators on this platform include Turnaround, Trending, Volatility Spotted, Going Up, Going Down, Volume Growth etc. Each indicator on the platform is there to give you some useful information so you can take the best trading decision at any given moment. For example, the Volatility Spotted indicator gives you instant information about a particular asset that is being bought and sold at tremendous speeds. Turnaround is another useful tool that tells you if an asset suddenly changes its course. You can get a basic experience of the software right on the UFX website if you want.
All the Best Assets in One Place
UFX brings you the best assets from the biggest financial markets of the world in one place. Of course, the first reason for you to sign up with UFX is to be able to trade cryptocurrencies. At the moment, you have four major cryptocurrencies that you can trade on the UFX trading platform. The four cryptocurrencies currently available for trading include EOS, Ethereum, Bitcoin, and Ripple. It is important that you realize why there are only four cryptocurrencies for trading at the moment. The biggest reason behind that is the volatility of this market.
Cryptocurrency market is already quite volatile. The last thing you would want is to put your money on the line for new cryptocurrencies because they are even more volatile. These are four of the major cryptocurrencies available today and despite their volatility, these digital coins recover their market positions quite quickly. You are going to love the fact that there is leverage available for you when you trade cryptocurrencies. This leverage is available regardless of the cryptocurrency you choose for trading.
Of course, UFX is a big broker and that’s why you have many other assets that you can trade on its platform. It has a huge list of ETFs that you can trade on its platform. ETFs are more like combinations of various similar assets that you can trade just like stocks. In addition to the ETFs, you have plenty of stocks that you can choose from. These stocks include all the major companies of the world including tech companies, sports companies, airlines, etc. Some of the well-known stocks in this category include Alibaba, Airbus, Amazon, American Express, Bank of America, Google, Facebook, etc. It won’t be wrong to say that UFX has one of the longest lists of stocks available for trading among all online brokers.
Forex is also one of the strengths of UFX. You can trade some of the most stable and volatile currency pairs on the UFX platform. The leverages available to you while trading forex are huge so you can control some big trades as well. You can easily take advantage of leverages of up to 1:400 when trading foreign currencies with UFX. The size of spread can differ from currency to currency. It is clear that the spreads are small for stable currency pairs and a little big for volatile currency pairs, which is natural.
UFX and Its Many Trading Accounts
You will hardly find another broker that gives so much flexibility to its traders when it comes to the account types. Yes, picking one account out of the bunch can be a difficult because there are so many choices. However, if you do some thinking, you will find the account that meets your exact needs. The different account types you can choose from include Micro, Mini, Standard, Gold, Platinum, and Islamic. These are six different accounts and each account has some amazing features. The biggest difference among them all is the minimum amount of funds that you have to maintain to activate the account.
If you are a new trader on a budget, you would love to go with the Micro account that can be opened with a deposit as small as $100. Even the mini account does not require more than $500 for you to activate this account. Platinum and Islamic accounts are the most expensive ones wherein you have to put at least $10,000 in your accounts to start them. The trading volume also differs for these accounts. In a micro account, you will have to trade at least $250. On the other hand, if you have maintained a platinum account with UFX, your minimum trade volume should not be less than $100,000.
If you are someone who has already used the MT4 platform and this is the only platform that makes sense to you, you might want to go with Gold or Platinum account. That is because these are the only accounts that give you access to this platform. There is not a lot that you miss when you open the basic accounts. For example, you have access to the complete video library, daily market reviews, and daily recommendations even if you go with the most basic account i.e. the Micro account.
Funding Your UFX Account
As says in the title of this review, UFX gives its traders the kind of flexibility that most other brokers are not able to offer. Ease of depositing funds in the account is an important factor that traders have to consider before opening an account with a trader. When you choose UFX, you will be glad for making the choice because there are so many different deposit methods available. When it comes to credit cards, you can deposit funds in your account using Visa, MasterCard, Maestro, and Visa Electron Cards. You won’t find a lot of brokers with so many choices of depositing funds with just the credit cards.
In addition to the credit cards, you can fund your account with bank wire transfer as all. However, the most important part of the funding section is you being able to use the e-payment services. Some of the biggest and most famous e-payment services like Neteller and Skrill can be used for transferring funds to your account when you are dealing with UFX. Other well-known options include ELV, SoFort, iDEAL, GiroPay, CashU, WebMoney, etc. You have just as many options available when you have to withdraw funds from your account. With so many different ways of transferring the funds, you can pick the one that you find the safest.
UFX and Its Customer Support
Despite all the great features, it is the customer support of a broker that puts a stamp of approval on how much a broker cares about its traders. The first thing you will notice when you land on UFX website is the live chat feature. You can choose this option on the left hand side to talk to a representative from the company about whatever concern you have. There is a web-based contact form as well to send in your queries. You can attach up to five files with your query to highlight the issue. Most importantly, there are more than a dozen phone numbers available on the website for different countries where you can call. Even the website is available in 24 different languages so you can get the answers to your common questions right on the website.
You can conclude from the information above that UFX does offer a lot of flexibility to its traders. Talk about tradable assets or the account types to choose from, you have plenty of options as a trader to choose from. UFX is a regulated entity with proper anti-money laundering, information safety, and fund protection policies in place. You have lots of chances to make money when you open your account with UFX because of its tight spreads. The four major cryptocurrencies can be traded with leverage so you can control big trades and make huge profits too. UFX is a perfect online broker serving experienced and new traders excellently.
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