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7,0%
Top 10
5,0%
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1,0%
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0,5%
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Top 100+
0,05%
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UpFX Review 2024
Minimum
deposit:
deposit:
- $50
Trading platform:
- MT4
Bonus for deposit:
- 0%
Minimum
deposit:
deposit:
- $50
Trading platform:
- MT4
Bonus for deposit:
- 0%
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Summary of UpFX Trading Company
UpFX is a high-risk broker with the TU Overall Score of 2.67 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by UpFX clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker. UpFX ranks 348 among 413 companies featured in the TU Ranking, which is based on the evaluation of 100+ criteria and a test on how to open an account.
UpFX has been operating for 6 years and within this time it has attracted the attention of more than 50,000 traders from 180 countries. The company does not set artificial limits, it has tight spreads and a high speed of order execution. There are over 150 CFDs on assets and high leverage of up to 1:400. These, when combined with favorable fees, allow you to successfully trade using any style and strategy. The broker has its disadvantages, but they are not critical. According to the sum of factors, UpFX can be recommended for work.
UpFX allows you to trade CFDs on currencies, cryptocurrencies, indices, stocks, commodities, and metals. In total, more than 150 financial instruments are available. Trading is possible 24/7, there is market execution of orders and leverage depending on the type of account. Its maximum is 1:400. The minimum deposit on the Basic account is $50. Account currency is USD or EUR at the request of a trader. Trading is carried out through the MetaTrader 4 (MT4) platform, including its mobile version. UpFX provides educational materials and specialized solutions like AutoChartist, to make trading easier. The company is regulated by the Vanuatu Financial Services Commission (VFSC).
| 💰 Account currency: | USD and EUR |
|---|---|
| 🚀 Minimum deposit: | $50 |
| ⚖️ Leverage: | Up to 1:400 |
| 💱 Spread: | No |
| 🔧 Instruments: | CFDs on currency pairs, cryptocurrencies, stocks, indices, commodities, and metals |
| 💹 Margin Call / Stop Out: | No |
👍 Advantages of trading with UpFX:
- Traders get access to hundreds of financial instruments from the most popular groups, including Forex and cryptocurrencies;
- Three account types are available. Each of the accounts is optimal for traders with different levels of training and ambitions;
- Leverage is available on all accounts, its size depends on the type of account and asset. The minimum leverage is 1:10 and the maximum is 1:400;
- Deposit on the Basic account, is from $50; on the Optimal account, it is from $5,000; and on the Professional account, it starts from $10,000;
- The broker offers specialized solutions and calculators, which are available on the website and in the user account;
- Registration with verification of the KYC (Know Your Client) type is intuitively simple and takes no more than 3-5 minutes;
- Technical support is represented by a call center and email and is available 24/7.
👎 Disadvantages of UpFX:
- Traders can only trade through MetaTrader 4, alternative solutions are not available;
- Technical support does not have a live chat, which is one of the most efficient communication channels;
- There are many brokers that do not require a minimum deposit. With UpFX it is $50.
Evaluation of the most influential parameters of UpFX
User Satisfaction i
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Expert Review of UpFX
UpFX started working in 2017 and several European offices were opened at once. This suggests that the broker received large investments from the start. It is no wonder, given that the parent company of the project is BMFN Limited. UpFX fully entered the international market in 2021, when traders got access to more than 150 instruments and technical support became multilingual. Nevertheless, up to now, some aspects of the broker’s work raise questions. For example, UpFX does not have live chat, although experts agree that this is the most efficient and convenient communication option.
Speaking about trading conditions, it is fair to say that UpFX successfully competes with the world market leaders. This became possible because the company offers three types of accounts and a large choice of assets. Traders can work with CFDs on currencies, cryptocurrencies, indices, stocks, metals, and commodities. This is a big plus because the broker's clients do not need to limit themselves. In addition, a wide range of assets opens up opportunities for effective risk diversification. Comparative analysis also shows that UpFX has tight spreads, low trading fees, and the speed of transaction execution meets modern standards.
The company is regulated, which is crucial in terms of ensuring security and fulfilling obligations to traders. The study of archived data and comprehensive testing did not reveal any critical problems, bugs, or vulnerabilities. UpFX has no open conflicts with traders and always fulfills its stated obligations. Many experts pay attention to flexible terms of work. For example, leverage varies from 1:10 to 1:400 even on the Basic account. The broker neither has requotes, nor slippage. On the other hand, there are also limiting factors. For example, trading is carried out only through MetaTrader 4 and traders cannot use alternative solutions.
Thus, UpFX can be described as a proven and reliable broker that provides its clients with comfortable trading conditions. The company provides instruments for technical analysis, like AutoChartist, and educational materials designed for traders of different levels. Finally, it is worth noting technical support. It does not have live chat, but it works 24/7, without breaks and weekends. In addition, it is available in several languages, which is also an indicator of the quality of service.
Dynamics of UpFX’s popularity among
Traders Union’s traders, according to 2023 data
Investment Programs, Available Markets and Products of the Broker
Many brokers, in addition to active trading in financial markets, offer traders options for passive income, in particular, investment programs. These programs can take almost any form, from buying dividend stocks to investing in cryptocurrency staking. UpFX does not provide such opportunities to its clients. The platform is fully focused on providing possibilities for active income to traders who can work in comfortable conditions for themselves. Sometimes referral programs are considered as a source of passive income. In fact, this is also an active income, since in order to receive significant bonuses, a trader needs to communicate a lot with colleagues or have a popular blog.
Important!
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Why UpFX doesn't have a referral program:
At the start, the broker had such a program, but it was quickly closed. The essence of any referral program is that the current client of the platform uses a partner link to invite new users. Users registered through this link bring to its owner a percentage of the initial deposit or a share of trading fees. The conditions may differ, but the main mechanism is common and the goal is always the same. It is designed to draw attention to the broker. Currently, more than 50,000 traders work with UpFX. The company does not need to additionally stimulate the influx of clients, so it does not have a partnership program. Many experts see this as an advantage, which speaks of a high level of service.
Trading Conditions for UpFX Users
For brokers, the minimum deposit depends on the type of account. At the same time, there are quite a few companies that do not have any minimum deposit requirements for some accounts. In the case of UpFX, to open the Basic account, a trader needs to deposit an amount of $50, to open the Optimal account a deposit from $5,000 is required, and for the Professional account the deposit is from $10,000. Leverage depends on the asset and the type of account. It ranges from 1:10 to 1:400. Even if the maximum leverage is currently available to traders, they do not have to use it, and can trade without leverage at all. As for technical support, it works 24/7, but is available only via two channels, email and a call center (call back).
$50
Minimum
deposit
1:400
Leverage
24/7
Support
| 💻 Trading platform: | MT4 |
|---|---|
| 📊 Accounts: | Basic, Optimal, and Professional |
| 💰 Account currency: | USD and EUR |
| 💵 Replenishment / Withdrawal: | Bank cards and e-wallets |
| 🚀 Minimum deposit: | $50 |
| ⚖️ Leverage: | Up to 1:400 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | No |
| 💱 Spread: | No |
| 🔧 Instruments: | CFDs on currency pairs, cryptocurrencies, stocks, indices, commodities, and metals |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Orders execution: | Market execution |
| ⭐ Trading features: |
Three account types; Over 150 financial instruments; Opportunities for technical analysis; High leverage; Fast registration; Prompt technical support; Trading through MT4 only |
| 🎁 Contests and bonuses: | No |
Comparison of UpFX with other Brokers
| UpFX | RoboForex | Eightcap | Exness | XM Group | 4XC | |
| Trading platform |
MT4 | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | MT4, MT5 | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MT4, MT5, MobileTrading, XM App | MT5, MT4, WebTrader |
| Min deposit | $50 | $10 | $100 | $10 | $5 | $50 |
| Leverage |
From 1:1 to 1:400 |
From 1:1 to 1:2000 |
From 1:30 to 1:500 |
From 1:1 to 1:2000 |
From 1:1 to 1:30 |
From 1:1 to 1:500 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0.1 points | From 0 points | From 0 points | From 1 point | From 0.6 points | From 0 points |
| Level of margin call / stop out |
100% / 50% | 60% / 40% | 80% / 50% | No / 60% | 100% / 50% | 100% / 50% |
| Execution of orders | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution, Instant Execution | Market Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | $50 |
| Cent accounts | No | Yes | No | No | Yes | No |
Broker comparison table of trading instruments
| UpFX | RoboForex | Eightcap | Exness | XM Group | 4XC | |
| Forex | Yes | Yes | Yes | Yes | Yes | Yes |
| Metalls | Yes | Yes | Yes | Yes | Yes | Yes |
| Crypto | Yes | No | Yes | Yes | Yes | Yes |
| CFD | Yes | Yes | Yes | Yes | Yes | Yes |
| Indexes | Yes | Yes | Yes | Yes | Yes | Yes |
| Stock | Yes | Yes | Yes | Yes | Yes | Yes |
| ETF | No | Yes | No | No | No | No |
| Options | No | No | No | No | No | No |
UpFX Commissions & Fees
Information
The broker offers transparent trading fees, the amount of which depends on many factors, such as the type of asset, the volume of the transaction, and the current situation on the market. Traders know in advance how much they will pay for a particular transaction. The UpFX website has a special calculator that allows you to calculate the amount of the fee. Withdrawal fees depend on the asset, but not on the withdrawal amount, and additional fees may be charged by other participants of the withdrawal process, such as an e-wallet or a bank.
| Account type | Spread (minimum value) | Withdrawal commission |
| Basic | $4.5 | Yes |
| Optimal | $4.5 | Yes |
| Professional | $4.5 | Yes |
In general, this broker's fee policy has no conceptual differences from the conditions of its main competitors. A simple comparison shows that UpFX's fees are average for the segment. In the table below, TU has compared UpFX with the leaders of the direction.
| Broker | Average commission | Level |
| UpFX | $4.5 | Medium |
| RoboForex | $1 | Low |
| Pocket Option | $8.5 | High |
Detailed review of UpFX
Since its incorporation in 2017, UpFX has been applying the latest marketing technologies. This is expressed literally in everything, from the list of trading instruments to the speed of order execution. For an average trader, UpFX has many practical advantages. For example, registration within 5 minutes, fast verification, low spreads, and high trading leverage. Today, a broker that does not meet these requirements simply cannot compete. Also, there are integrated instruments for technical analysis that make life easier for traders. This speaks of the client-oriented approach and quality of service.
UpFX by the numbers:
-
Over 50,000 active accounts;
-
150 trading instruments;
-
Minimum deposit is $50;
-
Maximum leverage is 1:400;
-
Registration within 5 minutes.
UpFX is a broker for successfully trading CFDs
There are many brokers that focus on a specific group of assets, most often it is Forex. Some add the most popular instruments from other groups, such as stocks, indices, or cryptocurrencies. UpFX stands out from its competitors by the variety of assets available to traders, regardless of the chosen account. The company's client can work with CFDs on currencies, cryptocurrencies, stocks, indices, commodities, and precious metals. In total, there are 150 positions, and this list is constantly expanding. The advantage of having a large choice of instruments from which to choose is that traders do not need to limit themselves. They work with familiar instruments and implement unique trading strategies.
Useful features offered by UpFX:
-
A trader does not need to spend a lot of time opening a live account. Registration on the platform takes no more than 3-5 minutes. The KYC type of verification is required to ensure the security of the platform and is completed within a couple of days;
-
The broker allows trading through MetaTrader 4, many users and experts consider it to be ideal. It is also because there are hundreds of plug-ins for this platform that simplify and speed up technical analysis;
-
The broker's client can choose a demo account or one of three types of live accounts. Live accounts differ from each other in the minimum deposit, maximum leverage, and some trading metrics.
Advantages:
1
Traders have the opportunity to work with almost any financial instrument. The most demanded CFDs are presented, and their list is constantly growing;
2
Leverage depends on the type of account and asset, but even on the Basic account, traders can trade with leverage of up to 1:400, which increases the profit potential;
3
There are no additional fees, traders only pay a spread or trading fee, and a withdrawal fee;
4
Technical support is available in major European languages and is active 24/7;
5
Traders are not limited in their trading strategy;
6
The broker is interested in the success of traders, so it provides them with special instruments, like AutoChartist for free;
7
The broker's website has a convenient dashboard with important functions, like an economic calendar and full control of accounts.
UpFX does not apply any unique solutions. The company takes the best practices of the world market and brings them to a qualitatively high level.
Guide on how traders can start earning profits
The most important factor is the type of account. Many brokers offer demo accounts, they are needed to study the platform and work out trading strategies. UpFX also offers a demo account and three live accounts. The main differences between these accounts are the minimum deposit, maximum leverage, and available assets. CFDs on stocks, indices, and commodities are available on all accounts, and the type of execution is always market. The most popular is the Optimal account. It has a significant minimum deposit, but it provides almost all assets and moderate leverage. The Basic option is usually chosen by novice traders, and the Professional plan will suit the most experienced market participants. Thus, traders should focus on their capabilities and ambitions, but not overestimate them.
Account types:
Account Type
Description
Basic
The minimum deposit is $50 and leverage is up to 1:400. The account is designed for traders who want to minimize risks and trade with a small investment;
Optimal
The minimum deposit is $5,000 and leverage is up to 1:200. It is the most popular account, as it has a balanced ratio of the minimum deposit and trading opportunities;
Professional
The minimum deposit is $10,000 and leverage is up to 1:100. The account is intended for professional market participants, as it offers a maximum of assets and functions.
Technical support works the same for all types of accounts. Also, all traders have equal access to the analytical opportunities of the platform and educational materials.
Investment Education Online
Information
Many brokers offer eBooks, articles, and other educational materials, and conduct free webinars with professional traders. All this allows traders to regularly improve their skills. UpFX takes a similar approach.
Information available in the Educational Center
Information not available on the UpFX website
Guides on how to work with the platform
Advanced tips and lifehacks
Theory of Fundamental and Technical Analyses
Overview of specific instruments
Peculiarities of trading different financial instruments
Psychology of trading
Review of definite strategies
Rules of money management
If UpFX is compared with its competitors, it will be in the middle of the list in terms of the quantity and quality of training materials. Its Educational Center is more useful for novice traders and users at the intermediate level. It doesn’t contain materials that will help professionals improve their skills.
Security (Protection for Investors)
Information
For a trader, the reliability of a broker is a guarantee of security. And the main criterion of reliability is regulation. All companies in this category are officially registered and subject to the financial laws of the country where they are headquartered. However, registration is not enough. To confirm the transparency of work and the validity of the declared trading conditions, brokers receive licenses from international regulators such as FINRA (Financial Industry Regulatory Authority), SEC (The United States Securities and Exchange Commission), NFA (National Futures Association), or CFTC (Commodity Futures Trading Commission). UpFX is regulated by the Vanuatu Financial Services Commission under license number 40202.
👍 Advantages
- Traders can address the broker’s lawyers
- Possibility to contact the regulator directly
👎 Disadvantages
- Deposits and withdrawals are subject to mandatory verification
Withdrawal Options and Fees
-
When trading on accounts such as Basic, Optimal, or Professional, traders have the opportunity to submit a withdrawal request at any time. The corresponding function is available in the user account;
-
You can withdraw funds to bank cards and e-wallets. Also, other options are available;
-
Traders need to study the withdrawal conditions in the user account, including the minimum amount and fees;
-
The fee depends on the asset and the withdrawal channel. In general, UpFX has average fees for the market.
Customer Support Service
Information
The technical (client) support service is one of the most important infrastructures on any platform. No matter how convenient and transparent the interface of the website is, and regardless of the details of the instructions (FAQs) provided, traders will in any case face situations they cannot solve on their own without advice or help from an expert. UpFX has 24/7 technical support. However, it is only available via email and callback.
👍 Advantages
- Non-clients can contact technical support
- Technical support is multilingual
👎 Disadvantages
- No live chat
If you have a question that requires the help of a specialist, you can use the following channels:
-
write via email;
-
order a callback on the page.
Note that to order a callback, you need to fill out a special form, indicating your first and last names, phone number, email, and country of residence.
Contacts
| Foundation date | 2017 |
| Registration address | Law Partners House, Kumul Highway, Port Vila, Vanuatu (CAP 222) |
| Official site | https://upfx.com/ |
| Contacts |
Email:
support@upfx.com,
|
Review of the Personal Cabinet of UpFX
To start trading with UpFX, register on its official website, then select the type of account, and make a deposit. After that, you can download and install the MT4 trading platform to enter registration data into it and gain access to the financial markets. Usually, this process does not cause any problems, however, but TU has compiled the below step-by-step guide so that you know exactly what needs to be done.
1
Go to the official UpFX website. Click the “Registration” button in the upper right corner.
2
Select your language in the top right corner. Then select the type of account from among Individual, Corporate, and Joint. After that, enter your email, first and last names, phone number, date of birth, and your country of residence. Also, enter a verification code to protect against bots. It will be indicated in the special block. After entering the required information, click the "Sign Up Now" button.
3
Choose a demo or live trading account. Specify the registration address and upload a scan or photo of your identity document. It can be a passport, driver's license, or insurance policy. Read the terms of service, it is a document at the bottom of the page, and sign it electronically. Click the "Submit" button, and then the "Continue Registration" button.
4
Select a platform and click the "Registration" button. Here you can also download the trading platform by clicking the link in the pop-up window. Registration data will be sent to your email, you will automatically get access to your user account on the website.
Functions of UpFX’s user account:
Traders can change the profile information, upload documents for verification, select the interface language, and change the password in the main settings;
Deposits and withdrawals of funds, registration of a new account, support center, educational center, and other options are available in the dashboard;
Separate buttons with corresponding names allow you to open a live or demo account with the broker;
You can generate any type of report in the eponymous tab. For example, it can be open and closed positions report or report on withdrawal requests, indicating their status;
The Trading Account Management tab allows you to change your password, make a deposit, withdraw funds, perform an internal transfer, or download the platform;
A separate block contains links to distributions of MetaTrader 4 for desktop and mobile gadgets.
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FAQs
Do reviews by traders influence the UpFX rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about UpFX you need to go to the broker's profile.
How to leave a review about UpFX on the Traders Union website?
To leave a review about UpFX, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about UpFX on a non-Traders Union client?
Anyone can leave feedback about UpFX on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.
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