UFX Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of UFX trading signals. You will learn what kinds of trading signals UFX offers and what the conditions for using them are.
Short introduction of UFX
The UFX Forex broker is for trading currency pairs, CFDs, and ETFs. It has offices all over the world and has been providing top-notch brokerage services since 2007. It has also received more than 20 international awards while being regulated by two commissions — CySEC (Cyprus) and VFSC (Vanuatu). The broker is focused on active traders who prefer to trade with fixed spreads and high leverage, but it allows its clients to use passive strategies as well. Traders can copy trades of successful market participants and connect expert advisors for automated trading.
| 💰 Account currency: | USD |
| 🚀 Minimum deposit: | $100 |
| ⚖️ Leverage: | Up to 1:400 |
| 💱 Spread: | Fixed, from 2 pips |
| 🔧 Instruments: | Currency pairs (49), Bitcoin, CFD on metals (2), energy stocks (2), indices (8), stocks (300+), ETFs (40) |
| 💹 Margin Call / Stop Out: | 50%/25% |
UFX Pros and Cons
👍 Advantages of trading with UFX:
•Availability of licenses from two international regulators — VFSC and CySEC.
•The extensive list of trading assets such as currency pairs, CFDs, and ETFs.
•A vast array of payment systems for deposits and withdrawals.
•High affiliate payments for the connection of new clients.
•Access to trade on cent, standard, and professional accounts with high leverage.
•Possibility to open an Islamic account, the conditions of which allow you to refuse a charge for transferring the position to the following trading day (swap).
•Participation of traders domiciled in CySEC jurisdiction in the Investor Compensation Fund with maximum coverage up to €20,000 per person.
👎 Disadvantages of UFX:
•The company keeps high fixed spreads — from 2 pips (on major currency pairs).
•The broker does not accept traders residing in the US or the UK.
•At the moment, only Bitcoin is available from cryptocurrencies.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
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Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
UFX Trading Signals
The analysis of UFX conditions showed that the broker keeps a fixed spread as a trading commission. The lowest spreads are charged for transactions in the currency pair EUR/USD. On Micro, Mini, and Islamic accounts, the company charges a spread of 4 pips, on the Standard account, it is 3 pips, on the Gold and Platinum accounts, it is 2 pips. There are no additional fees for trading. UFX does not charge deposit or withdrawal fees. However, the broker may charge a $100 fee for account deactivation. It is withheld if the client's account is inactive for three months, provided that there is at least $100 in the balance.
| Account type | Spread (minimum value) | Withdrawal commission |
| Micro | From $0.4 | No |
| Mini | From $40 | No |
| Standard | From $30 | No |
| Gold | From $20 | No |
| Platinum | From $20 | No |
| Islamic | From $40 | No |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that UFX does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
How do I test the signals if I can’t do it on a demo account?
In this case, it is best to test them using the minimum deposit. You will need to check the minimum deposit level of the broker.
Is automatic position opening based on signals possible?
Yes, it is what copy trading implies. In this case, all trades are copied automatically to the trader’s platform.
Can I subscribe to several signal providers?
As a rule, brokers allow traders to do that. It is important to subscribe to several providers or newsletters, as it helps diversify the risks.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.