Forex Broker List & Broker Guide

UFX Bank is one of the best online Forex brokers we can recommend. They offer fantastic customer support that is available 24 hours a day, a broad range of trading options including commodities trading, great customer features like daily market outlooks and reviews, plus they have a minimum deposit of only $100. Here is our overall review of the company to get you better acquainted with who they are and what features they provide:

UFXBank is a UK based brokerage firm which comprises of a solid team of Finance professionals that share over 50 years combined experience in the Foreign Exchange industry. ParagonEx, the platform used at UFXBank, was originally created and developed by the CEO himself and provides the most up to date charts and feeds to its customers.

Do to the high risk involved when trading in the Forex market, UFX Bank provides its industry-leading support in preparing its clients for success in this rough and tumble world. One of the best features they provide is remote assistance and they even offer personal coaching through trading. On the UFX Bank website, traders are able to access daily market updates, daily outlook videos, trade recommendations, tips, and strategies so that they may be as prepared as possible for the trading day ahead.

This is a summary of features and benefits UFX Bank offers its clients:

• No commissions or fees on deposits and withdrawals
• Fixed market spreads
• Over 40 Currency Pairs plus commodities and binary options trading
• $100 Minimum deposit
• Remote assistance
• Personal coaching through trading
• Daily market update and trading tips, which includes signals, market reports, and other useful tools
• One-on-one chat with trading experts
• Live market alerts via text message…(Advanced Traders)
• SMS Signals and recommendations…(Advanced Traders)
• Browser-based trading platform
• Advanced site security
• Good selection of payment options

Commission, Fees, and Fixed Market Spreads
UFX Bank does not charge any commission or fees on deposits or withdrawals. Like many Forex brokers, UFX Bank makes money on the spread, meaning that they make their money on the difference between the buy and sell prices. They offer a fixed spread, so that regardless of how the market is moving on a given day, the spread for each currency pair will remain at a fixed amount. So, if the fixed spread on the EUR/USD is 3 pips, any time you make a trade, you only have to pay 3 pips on the pair.

Trading Options

There are over 40 currency pairs available for trading on their platform. There are brokers who offer more and many that offer less, but you’ll find that the vast majority of traders stay away from the more obscure currencies because of the lack of information available on them. They offer all of the necessary currency pairs and then some.

One of the great features of UFX Bank is that in addition to currency markets, they also offer traders the option of trading in commodities. The last few years have seen huge fluctuations for oil, gold, and other commodity prices, making this is an amazing advantage because it allows us to get in on a market that enjoys considerable movement.

Binary options trading is an additional trading option, which allows traders to enter the market on an over-under position through a given time frame that yields high return percentages. This is certainly one of the major features that sets this company apart from others.

Low Minimum Deposit
This is a nice option for the beginning trader who wants to start off small. Most traders will probably find that a $100 investment makes it very difficult to produce the kind of returns one expects in trading Forex. On the other hand, with 200:1 leverage, it still allows a trader to experience trading in the market with some risk versus trading on a demo (something UFX also offers). Starting off with $100 can give you a feel for the market, but ultimately, you’ll want to build up your investing power.

Remote Assistance and Personal Coaching
This is one of the interesting features that characterizes UFX Bank’s unique approach to helping traders understand their trading platform and ultimately succeed. Imagine being able to have a support member show you the features and functions of your platform on your own desktop – that is what remote assistance is all about. The connection between you and dealer is done in two clicks. In addition to this, UFX Bank will provide you with a personal coach to walk you through your first trades to make sure that you understand how the system works. Now, that’s the type of dedicated support a person can look forward to!

Trading Tools including SMS signals and Alerts
UFX Bank offers daily market updates and outlooks, weekly reviews, daily recommendations, technical and fundamental Forex analysis, charts, graphs, one-on-one expert advice, and other helpful tools. Many Forex sites also provide their own analysis and other tools for trading, but it’s nice to know that UFX Bank does its part to provide all the tools necessary for traders of all levels. For advanced traders, they also offer market signals and live market alerts via SMS text. This allows a trader to remain aware of market conditions even if he’s unable to monitor them throughout the day.

Trading Platform
ParagonEX is the platform of choice for UFX Bank. This is an advanced and highly reliable web/browser based platform that provides accessibility through their website, as opposed to a downloadable client that some Forex brokers choose to employ. The main advantage here is that you can access the trading platform anywhere you have internet access instead of being limited to anywhere you have access to your trading client.

Security Features
Safety and security have always been a paramount concern in the minds of traders. Most of us would never even consider an FX broker unless we were convinced of its accountability and honesty in financial statements and interactions with the customer. To that end, UFX Bank implements the industry standard 128-bit SSL encryption system, along with multiple backup facilities at server farms which are protected by armed guards at all times, as well as a sophisticated system of firewalls in order to prevent any unauthorized access to client or company information.

Conclusions
With so many options of where to trade out there in the world of Forex, it is refreshing to come across a brand of broker as well-rounded as UFX Bank. They seem to be offering the most competitive product on the market today. The services they provide many Forex brokers do not, and those that do offer similar services, usually have minimum deposits in excess of $500. While it may be possible to find another broker with a lower minimum deposit or maybe a slightly better spread on some currency pair, the overall product and service you are receiving with UFX is hard to beat. UFX Bank is a great company with a high-quality product and a solid reputation in the Forex industry.