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Want to see if UFX is a legit broker? Is it safe to trade? It spread is high or low? How long to deposit or withdraw funds?

We provide answers to all the questions in this UFX Review.

We checked all UFX licenses and regulations to see if UFX scam or safe. We compared UFX fees like spread & commission from its live account to over 150 brokers, required time for deposit & withdrawal and many more findings all in this review.

What is UFX

UFX is global Forex and CFD broker, established in 2007. For years UFX operated only through its Belize entity but later obtained a license from Cyprus CySEC bringing regulated expansion to European clients.  

UFX highlights

🗺️ Regulated inVanuatu, Cyprus
🛡️ Is UFX safe to tradeYes and No
💵 EUR/USD spread4 pips
🏦 DepositBank Wire, Cards, Skrill, Neteller
💰 Minimum depositUS$100
🏦 WithdrawalBank Wire, Cards, Skrill, Neteller
💻 Trading platformWebTrader, MT5
💳 Trading marketsForex, CFDs on Indices, Shares, Metals, Energies
📈 Number of product500+
📉 Live chat responseLive Chat is not responding


License and regulation are crucial to traders’ fund security. We check two facts, the broker’s license and its background, second how are you protected if something goes wrong.

Is UFX legit

UFX is currently regulated Cyprus CySEC and registered in offshore Vanuatu.

However, recently CySEC examines the case since UFX wishes to withdraw its license.

UFX licenses and status

EntityRegistered inRegulatorLicense no.Status
Reliantco Investments LtdCyprusCyprus Securities and Exchange Commission (CySEC) 127/10Under renunciation and examination
UFX Global LimitedVanuatuFinancial Services Commission (VFSC) IFSC/000102/124Registered
UFX Review – CySEC License
UFX Review – CySEC License

Is UFX safe

At the moment we do not consider UFX a safe broker to trade. UFX voluntary request to withdraw its license from CySEC and UFX is solely operating though offshore registration for now, which does not provide strict regulations and overseeing.

Besides, there were several warning towards the broker issued by various authorities for violations.

UFX compensation scheme

EntityCompensation AmountNegative Balance Protection
Reliantco Investments Ltd€20,000Yes
UFX Global LimitedNo compensationYes

We do not recommend to register account with UFX for now. If UFX brings back its Cyprus license and regulation you can consider trading with them

The negative balance protection is provided for CySEC regulated traders, that redeem your account balance to 0 in case trades go negative.

Markets and Products

At UFX you can tradeForex, CFDs on Stocks, Indices, Oil and Metals.

For the negative side popular assets like Cryptocurrencies or Futures are missing, and each asset range is rather basic. 


Account types

UFX has 5 account types, plus Islamic Account. Accounts differ in minimum, requirement, trading volumes and access to MT5 platform.  


UFX operates two domains one for Cyprus entity and one for International proposal, Login Account to ‘My UFX Account’ is on relevant UFX website.

UFX Review – Accounts
UFX Review – Accounts

Fees and commissions

We ranked UFX fee levels high and average based on Live Account Spreads and compared to 150 brokers in our database.

The spread we collected for popular instruments from 6 markets and over 150 brokers

ForexEUR/USD0.1-0.91-1.51.6 or higher
IndicesUS 5000.1-0.40.5-1.41.5 or higher
CommoditiesGold0.1-0.40.5-22.1 or higher
StocksTesla0.1-0.50.6-11.1 or higher
ETFsUS Russell 20000.1-0.40.5-1.41.5 or higher
CryptocurrenciesBitcoin0.1-0.5%0.6-0.9%1% or higher


UFX fees are built into a variable spread. Spreads are different for each of offered account types and getting lower for higher accounts.

Spreads are variable tight spreads with no commission charges as broker advertises. On our test trades on Standard account the average spreads are high compared to industry benchmarks.

MarketsInstrumentsMini accountStandard accountGold accountPlatinum accountOther brokers’ avg spread
IndicesUS 50012010050500.5-1.4
ETFsUS Russell 20000.5-1.4

Other Fees

UFX has low non-trading fees. There is no fee for deposit, or withdrawals, or inactivity fee.

Trading Conditions

The trading conditions at UFX are good. Almost all trading strategies are allowed including scalping and hedging.

Trading ConditionsYes/No
Hedging AllowedYes
Scalping AllowedYes
Change Leverage AllowedYes

For hedging, there is no time limits.

Scalping is allowed too, there is UFX Trend Scalper strategy included in the offering. VPS service is available and inbuilt in MT5 and Expert Advisors (EAs) have no restrictions.

UFX Leverage and the change of leverage levels depending on the entity regulations and goes up to 1:500 for international clients.  


UFX charges no deposit fees. You can use bank transfer, credit cards, and e-wallets. The range of supported payment methods is different for international and European clients, also any fees charged by payment provider are on your side.

A bank transfer can take several business days, and payments with credit/debit cards and e-wallets are instant.

Deposit MethodFunding TimeFee
Bank Wire Transfer3-4 Working Days 0$
Credit / Debit CardInstantly0$
Skrill, NetellerInstantly0$
WebMoney, ELV, Giropay, iDeal, Neosurf, Qiwi, CashU, POLiInstantly0$
UFX Review – UFX Deposit
UFX Review – UFX Deposit

Minimum Deposit

Minimum deposit is depending on the account type you select, the first grade account Micro/Mini requires only 100$ at the start.     


UFX covers fees for withdrawals and similarly to deposits may wave provider fees to you.

Withdrawals are processed up to 2 days due to ESMA regulation but may be different for international clients.

Withdrawal MethodWithdrawal TimeFee
Bank Wire Transfer2 daysFree
Credit / Debit Card2 daysFree
Skrill, Neteller2 daysFree


UFX runs various completions and offers bonuses solely through international entity.

UFX Review - Promotions
UFX Review – Promotions

Trading Platform

UFX offers good variety of platforms including Web Trader and popular MetaTrader5.

UFX Trader

UFX Trader is a solely Web based platform that you can access from your desktop or any device Windows, Mac or Mobile.  


UFX Trader App and Mobile App is available for Android and IOs devices.

UFX Review – MT5 platform
UFX Review – MT5 platform

Research and Tools

UFX has good research tools.

There are numerous tools inbuilt into the platform, including strategies and good technical analysis. UFX also provides Trading Central, MassInsights Technology and fundamental data.  

UFX research tools are available in different places:

  • Trading platforms
  • Trading Platforms section on the website
UFX Review – Research
UFX Review – Research


UFX education content is not provided.

You can access various tools, but education withtrading videos, Webinars, Courses is not available.  

At UFX you can learn by:

  • Demo account

Customer Service

UFX customer service is average, Live Chat button is available on website and platform, but nothing happens when we click on it.

Customer Support available by:

  • Live chat
  • Telephone
  • Email
UFX Review – Customer Service
UFX Review – Customer Service

UFX live chat lead to nothing, no even Chat Box opened or contact form. Email response was average speed.

Question AskedWe asked about regulation.
Time of ReplyWe couldn’t connected to Live Chat so sent an email and got answer in few days
Quality of ReplyThe answer was very basic, no updates about CySEC withdrawal


UFX for now is not considered safe broker to trade. The company withdraws its licenses from CySEC and is under investigation, also it is not regulated by top-tier regulators and is operating through offshore Vanuatu.

The trading conditions are rather basic, but with good variety of markets to trade, also trading costs are high even for higher account types.

We do not recommend UFX for trading before it brings back its CySEC license or obtain any other serious regulation

Author of this review

By Jimmy O'Brien

Author of this review

Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.

Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.

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