Home/ Best Forex Brokers in South Africa for 2021/ UFX

UFX Review

Author By Jeffrey Cammack
Updated: March 1, 2021
Overall Rating
3.60 3.60 / 5
Min. Deposit
USD 100
Regulators
CySEC
Trading Desk
Market Maker
Trading Cost
USD 20
Website Language
English
Support Language
English
AlertMost retail CFD accounts lose money. Your capital is at risk.

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Summary

UFX is a Cypriot market maker broker, founded in 2007 and regulated by CySEC. With five different accounts types, not including the swap-free option, and support for MT5 as well as the proprietary UFX platform, it’s a shame that trading conditions are not better here.

Spreads are wide, even on the more expensive accounts, and on the Micro Account (100 USD minimum deposit) you can expect a fixed spread of 4 pips on the EUR/USD. Forex education is also lacking, as well as any kind of in-house market research, though UFX do offer both Trading Central and it’s own MassInsights trend and volatility tool. 

Reviews

Regulation
1110.503.5/ 5
Trading Conditions
1110.503.5/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
11110.54.5/ 5
Education & Research
10.50001.5/ 5
Assets Available
1110.503.5/ 5
Customer Service
111104/ 5
Beginner Friendly
Standard
Bonuses

Account Information

Base Currencies
EUR, GBP, USD, AUD, NZD, CAD, CHF
Number of FX Pairs
50
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Min. Spread
2 pips
Commission
EUR/USD
2.0 pips
GBP/USD
3.0 pips
USD/JPY
3.0 pips
Max. Leverage
30:1

Company Details

Company Name
Reliantco Investments Ltd
Founded
2007
Website
Office Locations
Cyprus, Czech Republic

Deposit & Withdrawal Methods

Supported Platforms for UFX

Pros

  • Great platform choice
  • Fast and free withdrawals
  • Good range of accounts

Cons

  • Wide spreads
  • Limited education
  • Limited market analysis
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Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
Gold
USD 5000
30:1
2
None
Account Details
Islamic
USD 10000
30:1
2
None
Account Details
Micro
USD 100
30:1
4
None
Account Details
Mini
USD 500
30:1
4
None
Account Details
Platinum
USD 10000
30:1
2
None
Account Details
Standard
USD 1000
30:1
3
None
Account Details
AvaTrade Banner
ironfx banner 202008
Visit Broker Open Account
AlertMost retail CFD accounts lose money. Your capital is at risk.
Scroll for more detailsPreviousNext
Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
1110.503.60/ 5
USD 100
Market Maker
Forex
Commodities
ETFs
Metals
Stock CFDs
WTIs
50
0
  • Great platform choice
  • Fast and free withdrawals
  • Good range of accounts
  • Wide spreads
  • Limited education
  • Limited market analysis
1110.503.5/ 5
1110.503.5/ 5
11110.54.5/ 5
11110.54.5/ 5
10.50001.5/ 5
1110.503.5/ 5
111104/ 5
79.74% of retail investor accounts lose money when trading CFDs with this provider
30:1
2 pips
Gold
Islamic
Micro
Mini
Platinum
Standard
Visa
Mastercard
Maestro
Diners Club
Bank Transfer
Skrill
Neteller
Giropay
iDEAL
Neosurf
Unionpay
CashU
Qiwi
POLi
paysafecard
1110.503.24/ 5
USD 250
Market Maker
Commodities
Cryptocurrencies
Forex
47
4
  • Good for beginners
  • Great customer support
  • Copy trading accounts
  • Expensive withdrawals
  • Local regulation only
111003/ 5
110.5002.5/ 5
111104/ 5
100001/ 5
1110.503.5/ 5
11110.54.5/ 5
11110.54.5/ 5
73% of retail investor accounts lose money when trading CFDs with this provider
200:1
1.50 pips
Bronze
Gold
Premium
Silver
MT4
Sirix
Bank Transfer
Neteller
Visa
Mastercard
Fasapay
Fees Included in Spread
1110.503.13/ 5
USD 10
Market Maker
Commodities
Cryptocurrencies
Forex
Indices
Stock CFDs
ETFs
25
12
  • Low minimum deposit
  • Wide range of assets
  • Unpublished spreads
  • Expensive withdrawals
  • Limited education
  • Limited market analysis
1110.503.5/ 5
111003/ 5
111104/ 5
100001/ 5
10.50001.5/ 5
111104/ 5
111104/ 5
85% of retail investor accounts lose money when trading CFDs with this provider
1000:1
5 pips
Live Account
IQ option
Bank Transfer
Visa
Mastercard
Skrill
Neteller
Bitcoin
Fees Included in Spread
Visit Broker

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