UFX – review and feedback on the cashback trading platform

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UFX – online trading platform with cash back feature

вњ… This Trading Platform is available in United States

В Overview of CFD trading platforms: UFX

The lack of a unified method of choosing a reliable financial broker, which would allow to identify and analyze the strengths / weaknesses of trading platforms, significantly complicates the activities of not only beginners, but also experienced traders. Using various “lucrative”, at first glance, offers (bonuses, contests, a high payout percentage on successful transactions, etc.), fraudsters attract prospective clients to lure as much money as possible from them. At the same time, a company can start its activities as a decent broker, thanks to which even very careful traders who are willing to invest in a project that interests them more than one hundred (and sometimes a thousand) dollars get into their “networks”. The UFX broker presented in this review is in many respects classified as reliable and decent representatives of the industry. But, despite this fact, there are quite a lot of negative reviews about it in the network. Angry user comments (or freelancer reviews ordered by competitors) make you wonder whether it is worth registering on this trading platform account or is it better to look for other offers from brokers? For a reasoned answer to this question, it is necessary to study in detail the main indicators of UFX activity, including an objective description of the resource presented.

What steps does the UFX administration take to attract users

Established in 2007, UFX is a Cypriot company whose founders are a team of real professionals who are well versed in online trading, investment, programming and legal support for forex brokers. The company’s website ideally combines the classic methods of trading traditional assets with the latest technology, new ways to make a profit and the highest standards of service for their customers. The presented trading platform in terms of functionality is suitable for both experienced traders and beginners.

Security

Developed for companies such as UFX, the application in conjunction with modern platforms guarantee instant processing of tasks, the safety of personal data and protection from the effects of adverse external factors. The higher the volume of trade, the more compensation the trader receives from his losing trades (few brokers use this method of stimulating users).

One of the main ways to protect deposits is to place clients’ money in separate accounts in reliable banking institutions. For security of transactions the special protected protocol is applied.

Regulation

If someone has any doubts about the safety and reliability of the broker, they will surely be dispelled by the most convincing evidence – the presence of institutions that control the work of the trading platform. These are the Cyprus Securities and Exchange Commission (CySEC) and the Financial Regulatory Authority. Practice shows that for experienced traders this is quite enough to register a login to UFX, without delving into the other nuances of the broker’s activities.

Training

The broker’s web site has a personal training program with an introduction to the basics of online trading, professional terminology and the provision of a personal tutor. Thanks to such care for its users, the company, without any problems, prepares qualified specialists who are well-versed in the basic nuances of the global financial market.

In the process, UFX customers use economic news, track trends, analyze market trends and reversal patterns, which helps them to make accurate predictions that allow them to earn good money. An additional advantage is the demo accounts provided by the UFX administration, which allow us to see in practice how a broker works, what can be done to increase profit, etc. At the same time, a trader does not need to spend personal savings.

Analysis of UFX trading performance

In addition to the demo account on the broker’s website, you can open:

в—Џ Platinum account.

The main differences between them are the number of services provided, the availability of contests / bonuses, as well as the amount of the minimum deposit that the trader must make.

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Trading Terms

в—Џ The minimum deposit is $ 100.

в—Џ Account currency – US dollar.

в—Џ The minimum transaction size is 0.01.

в—Џ Bonuses – 30% of the deposit amount.

в—Џ Technical support – round the clock, 7 days a week.

в—Џ Affiliate program – there is.

в—Џ Cash back – provided.

How to deposit or withdraw money

Quite often reviews about UFX, which are easy to find on the network, pay a lot of attention to methods of depositing / withdrawing money. Such interest can be explained by the fact that most similar companies limit themselves in this respect to 2-3 ways, and UFX takes a strong leading position:

в—Џ Debit and credit cards of banking institutions (MasterCard and Visa / Maestro).

в—Џ China UnionPay.

Trading Instruments

The reviews compiled about UFX focus on the fact that by the number of available assets, in contrast to the above methods of depositing / withdrawing money from the account, the broker in question lags significantly behind many of its competitors. In this case, CFD contracts are available to traders using commodities, indices and stocks. But practice shows that in most cases the listed trading instruments are quite enough to make profitable transactions and get a stable income.

Based on the above information, we can conclude that this company is not a fraudulent project. It is hard to imagine how the creators of the resource are waiting for more than 10 years, while ensuring the full-fledged work of the trading platform to wait for the moment when the time comes for the fraud.

UFX Review

Overview

One of the dynamically growing Forex brokers, the trusted leader for the quality and safe services.

Details

Broker UFX
Website URL ufx.com
Founded 2007
Headquarters 69 Buchanan St. Strathclyde Region, G1 3HL Glasgow, UK
Support Number + 44 208-150-0778 (United Kingdom), + 357 2503-0314 (Cyprus), + 800 035-702-407 (United Emirates), etc.
Support Types Chat, phone, feedback form from the site, + 4477-0002-1284 (Whatsapp/Viber)
Languages English
Trading Platform MetaTrader 4, Web Trader
Minimum 1st Deposit $100
Minimum Trade Amount 0,1$
Leverage 1:400
Spread from 2 points
Free Demo Account Open Demo
Regulated
Regulation CySEC (№127/10)
Account Types Demo, Micro, Mini, Standard, Gold, Platinum, Islamic
Deposit Methods Bank transfers, credit and debit cards MasterCard, Visa, Visa Electron, Maestro, Diners Club, Skrill, Cashu, WebMoney, QIWI, Neteller, Sofort, ELV, Giropay, Neosurf, iDEAL, POLi, etc.
Withdrawal Methods Bank transfers, credit and debit cards MasterCard, Visa, Visa Electron, Maestro, Diners Club, Skrill, Cashu, WebMoney, QIWI, Neteller, Sofort, ELV, Giropay, Neosurf, iDEAL, POLi, etc.
Number of Assets 50+
Types of Assets Currency, stocks, commodities, indices, ETF funds, cryptocurrencies (Bitcoin, Ethereum, Litecoin, Ripple, etc.)
Account Currency USD
US Traders Allowed
Mobile Trading
Overall Score 3/10

Full Review

Still, is UFX a scam or a worthy company you can trust? We answer this question in a detailed review of the broker.

Terms of trade with UFX

UFX is not directly connected with the stock market, not consider itself an ordinary broker, positioning itself more as an intermediary performing operations to transfer orders from its users to a broker who can offer the most favorable execution conditions. The company has a motto that it always follows: with UFX, trading gains meaning.

The broker tries to provide information about working in financial markets in a language that is understandable to all; it explains the complex things in simple words, it allows the user to trade most efficiently. UFX has prepared all the necessary tools for customers to trade comfortably: 24-hour professional technical support and experienced mentors who are ready to share their experience, individual training programs, etc. These are favorable Forex trading conditions competitive in the market (fixed spreads, low entry threshold, quick execution of transactions, etc.). Wide range of assets is available for customers: currency, shares, CFD for futures, primary products and indices.

Loyalty program UFX Rewards is also interesting, its participants get cashback for each open position, the more trades the more profit. Technological process issue is on the first place. Traders are offered one of the best and fastest platforms ParagonEx platform, having a lot of reward and positive reviews. MetaTrader 4 popular with traders is available, you can work in the convenient mobile application UFX Trading. Unique MassInsights™ technology is of particular interest, which allows you to make decisions about transactions faster and more confidently thanks to the live broadcast of market events, the behavior of traders, etc.

Deposit and withdrawal

UFX offers the variety of deposit and withdrawal ways. To replenish the account one needs to sign up by broker, choose the convenient way for funds transfer and deposit a sum (minimal deposit is 100$) through:

  • Bank transfer,
  • Credit and debit cards MasterCard, Visa, Visa Electron, Maestro, Diners Club,
  • Electronic systems (Skrill, Cashu, WebMoney, QIWI, Neteller, Sofort, ELV, Giropay, Neosurf, iDEAL, POLi etc.).

An account may be opened in several currencies at option. The withdrawal is possible just by the way chosen for deposit and for authorized traders only.

Complaints about UFX

UFX has a variety of online reviews, both positive and negative. Among the advantages, traders most often note the reliability and honesty of a broker with a humanly attitude to the user, favorable conditions, fixed spreads, accurate quotes, full service, high-quality platform of own production, tangible support from a personal trainer and analysts, a variety of tools, convenient ways to deposit the account.

There are plenty of negative reviews on the Internet, among which the greatest problems arise with the verification procedure, the work of the personal account, the terminal (requotes, freezes), the delay in withdrawing funds, the lack of communication with technical support, the incompetence of managers. At the same time, the company manager rarely works on the forums, trying to deal with the resulting negative.

If we find complaints about UFX, we will post it on social media. Follow us to be well informed:

UFX broker regulator

UFX is a member of Reliantco Investments Limited, regulated by Cyprus securities and exchange commission (CySEC, №127/10). The broker follows the MiFID Directive «About financial tools markets», running its business in Europe actively, is registered by the following regulating authorities:

  • Czech Republic – Czech National Bank (CNB),
  • Denmark – Financial supervision office Finanstilsynet,
  • Estonia – Estonian financial supervision office,
  • Finland – Finanssivalvonta, Financial supervision office of Finland (FIN-FSA),
  • France – Bank of France,
  • Malta – Financial supervision office of Malta (MFSA),
  • Spain – National commission for financial markets (CNMV),
  • UK – Financial conduct authority (FCA) etc.

More information about company’s licenses check on UFX official website.

Is UFX a scam?

UFX is one of the successful and experienced Forex brokers, which has demonstrated reliability and stability for 10 years of continuous development. The Internet provides a variety of different reviews about trading in the company: both positive (favorable trading conditions, platform quality, quick withdrawal of funds, etc.) and negative (problems with technical support, terminal failures, etc.). In many ways, this suggests that it has something to attract the user, but the service has errors. At the same time, a broker’s manager is working on the forums, trying to solve customer problems that have arisen, but he is not active.

The way the company has built its strategy of working with the user is of particular interest, where customer-oriented approach, the need for simple online trading, materials in a language that everyone understands («with UFX trade makes sense») are at the head, this is the key to success trading for any market player. High-quality tools are also required for performance; the broker offers only reliable software (ParagonEx platform, MetaTrader 4, UFX Trading mobile application, MassInsights™ technology), which received positive customer reviews and is able to make the work productive. Readiness to invest substantial funds in the development of the service is a serious step, which suggests that it is important for the company to take its position among competitors, to provide the best to the user, this distinguishes a real broker from a fraudster who has come to the market for a short time.

We note the official website of UFX as an advantage, which contains a lot of materials about the company, terminals, trading conditions, and analytics. The presence of 24-hours technical support, the possibility of individual training, working with a personal manager – this indicates a well-thought-out policy of working with the user, which is inaccessible to fraud sites. UFX is a licensed broker that has certification from several countries, information on this is available on the company’s website; we will consider this a positive point.

And yet, is it worth to consider UFX a scam? It seems no. 10 years of successful and active work in the financial markets proves this. To avoid problems with a broker, work correctly with your personal manager, clarifying with him the necessary information about the rules for using bonuses, features of trading, withdrawal procedures.

Conclusion

UFX Forex broker has successfully operated in the market for 10 years, providing its user with a unique service, security and favorable trading conditions, a large number of tools. The presence of positive customer reviews about the broker proves the correct development strategy. The company pays special attention to the client, professional technical support, makes trading training clear and simple, which contributes to the greatest performance.

We should note as well software getting positive reviews of users, which for sure makes company the leader among competitors. Despite enough volume of negative reviews in the Internet, manager of the company works on the forums inactively. One hopes that the company plans to change this situation, as well as continue its successful way in trading, increasing the number of its customers. It is worth noting that UFX has been successful for 10 years, it proves serious intentions and stability, so today we will not assess it as a fraudulent company. However, reviews of traders which we are waiting for this review can not only significantly change broker ratings, but also warn users against possible problems.

Ayondo Review and Tutorial 2020

Ayondo offer trading across a huge range of markets and assets. They also offer negative balance protection and social trading.

Traders in Russia welcome
Ayondo Facts & Figures
Instruments CFD, Forex, Crypto, Stocks
Demo Account Yes
Min. Deposit £1
Min. Trade £1
Regulated By FCA
MT4 Integration Yes
Mobile Apps iOS, Android and Windows
Auto Trading No
Trade Signals No
Islamic Account No
CFD
FTSE Spread 1 pt
GBPUSD Spread 1.1 Var
Oil Spread 0.05 pips
Stocks Spread 0.1% Var
Forex
GBPUSD Spread 1.1 Var
EURUSD Spread 0.8 pips
EURGBP Spread 0.7 pips
Assets 80+

Ayondo facilitates trading in forex, CFDs and binary options. This review of Ayondo will test each element of their offering, including fees, demo accounts and their cryptocurrency capabilities. The review will also take an in-depth look at Ayondo’s proprietary social trading system and app, before concluding with a final verdict.

A Brief History

Early History

The founders, Robert Lempka and Thomas Winkler, launched Ayondo in 2009. Originally the company was based in Germany, but as the number of users grew the broker went global. Now Ayondo headquarters are located at their London, UK office.

However, the owners and operators of the Ayondo broker are actually Ayondo Markets Ltd, a financial trading brand boasting an annual revenue in excess of £10 million, according to reports.

Even since it was a startup, the CEO and the rest of the Ayondo group have had a clear mission – to connect investors so they can benefit from the success of ‘Top Traders’. This social element to their trading system will be broken down in detail further below.

Recent Years

In the past, you had to sign up with a separate partner broker. However, in 2020 Ayondo launched their own brokers solution. Having said that, it is technically a white labelled version of the Gekko Global Markets platform. Nonetheless, since the change, the sign-up and login process has been noticeably smoother.

Between 2020 and 2020, the company’s assets under management also grew. In fact, it nearly doubled from $19 million to $35.8 million.

2020 was an eventful year for the company. Ayondo acquired the popular, investor education application TradeHero. Then following a failed reverse takeover (RTO) with Starland Holdings, the broker instead aimed to become the first FinTech enterprise to be listed on the Catalist growth board of the Singapore Exchange (SGX).

Initial Ayondo Ltd IPO forums in Singapore and the Business Times put price valuation at around $105.6 million. Press releases then show that on the first day’s offering, nearly 81 million invitation shares were subscribed at S$0.26.

Products & Markets

Ayondo customers get an extensive list of instruments and markets to choose from. For example, you have access to:

  • CFDs
  • Precious metals
  • Interest/bond rates
  • Over 30 FX currency pairs
  • Major Asian, European and US indices
  • Shares in Major blue-chip companies, including Starbucks and Coca-Cola

Customers from the UK and Ireland can also register for a spread betting account. In addition, users can speculate on the latest cryptocurrency, such as Bitcoin.

Minimum Initial deposit

You need as little as £1 to open a live account. This is lower than many competitors, making Ayondo an attractive proposition to novice traders. You can open an account in Euros, GBP and USD.

In practice, you will need a minimum of 100 Euros to copy a trader. If you want to copy several Top Traders, an account balance of 500 to 1000 Euros is more realistic.

Spreads & Commissions

Ayondo follows a market maker business model. They take their fee from the difference between the buy and sell price.

Customer reviews are quick to show Ayondo promise competitive spreads. In fact, the minimum spread for the EUR/USD pair is 0.8 pips. This is lower than the industry average of 0.82 pips.

Another bonus is that you don’t pay a commission to third-party brokers, unlike many social trading networks. As a result, it is just the spread that Ayondo takes its fee and pays its Top Traders from.

Leverage

Ayondo does allow trading on margin. A live account gets you up to 200:1 leverage. Essentially, this allows you to borrow money from your broker to capitalise on a potential opportunity. However, leveraged trading comes with risks. In fact, you could actually lose more than your initial deposit.

Fortunately, Ayondo allows you to manually adjust your leverage limits to a level you feel comfortable with.

Other Trading Fees

There are several additional costs to be aware of:

  • You will pay an overnight rollover fee of 3%.
  • Long positions will also incur financing charges.
  • You will pay a follower fee, depending on the remuneration model your Top Trader has selected. This could include a 25% performance fee, plus a 1% management fee.

Ayondo regularly run a range of welcome bonuses and offers. This can include 25% cashback deals, no deposit bonuses and refer a friend schemes. Head over to the website to see what Ayondo Markets offers are currently available.

Ayondo Trading Platform

One of the most important components of any broker review is their trading platform. In terms of user experience, Ayondo Market’s TradeHub live platform is streamlined and easy to pick up. There are also generous levels of customisation available, helping to speed up execution.

Cash balances, margins and trading products are clearly visible. In particular, user reviews were quick to praise that OCO orders are easily accessible and guaranteed stop-losses are automatically included with a position.

It is clear Ayondo have built their platform with ease of use in mind. Information and lot sizes are clear, while the whole interface is clean and sleek. Adjusting your position sizes to fit in with your strategy is also hassle-free.

Overall, Ayondo’s platform is ideal for beginners or those who are used to the high standards of the MetaTrader 4 (MT4) and MT5 systems.

Mobile Apps

Ayondo also offers mobile versions of the TradeHub platform. You can get these mobile trading apps for both iOS and Android devices. Ayondo.com reviews of the iPhone and iPad apps were particularly positive. You get variable portfolio margining and just like the desktop-based platform, you can also place trailing stops with ease while enjoying loss protection.

In addition, your Ayondo Markets mobile login details grant you access to:

  • Usage tips
  • Sophisticated charts
  • A flexible search function
  • A thorough manual and help section

Methods of Payment

Once you complete registration, you will need to set about funding your account. Deposits and withdrawals can be made via:

  • Wire transfer
  • Debit/credit card

Note the minimum withdrawal amount is $10. You will also need to verify your identity and address before you can withdraw funds for the first time.

If you become a Top Trader, you will get a daily overview of your revenues and easy-to-read invoices.

On the whole, payment methods are an area Ayondo could improve in. There are competitors offering numerous other payment methods, from PayPal to digital wallets.

Ayondo Accounts

Opening a live account with Ayondo is straightforward. The live account allows you to trade in CFDs, spread betting or to generate revenue from those copying your trades. However, you will need to have:

  • A scanned colour copy of your passport, driving license or national ID
  • A recent utility bill or bank statement proving your address

In addition, you will need to set aside a few minutes to answer some basic questions about your trading experience, among others.

Note as you progress through Ayondo you will pass through different levels, from Street Trader to Institutional. If you perform well, you will benefit from greater commissions with each increase in level. As soon as you have more than 500 Euros/GBP/USD, you will receive a Money Trader’s Badge.

Demo Account

If you’re new to trading, Ayondo Markets offers a fantastic demo account. Here you can test the broker and platform while getting familiar with the markets.

Your demo login details afford you access to a wide range of features, including viewing the performance of a huge number of traders. You can then build a portfolio of as many as 5 traders and use a simulator to test their performance against historical data. If you are content, you can then execute your portfolio on your demo account.

Once you feel confident you can then easily upgrade to a live account from within your Ayondo area.

Additional Features

The main feature of Ayondo is their social trading system, reviews of which are positive. There are thousands of traders to choose from. Some of the best traders have over three years of experience. Plus, finding and following your top trader is easy as their performance is graphically displayed on the Ayondo interface. You can actually track their performance against major indices too. You can also choose to follow traders based on specific criteria, such as profit-loss ratios.

So does Ayondo’s social trading system work? Although still in its early days, the broker has definitely already built a comprehensive and effective system. In fact, every year the number of social trading users continues to grow.

Ayondo also facilitates access to additional educational resources. You can find webinars, training videos and other manuals. The broker also has a TV spot on an online UK channel. There you can get more information on how to make the most of TradeHub.

You can also use their online newsletter to pick up useful tips and find out about new products.

Safety & Security

With an increase in scams and hacking, it’s important to ask – is Ayondo any good in terms of user security? Fortunately, the answer is yes. To ensure personal safety, they use:

  • Segregated bank accounts to keep customers’ funds separate from Ayondo operating capital.
  • Negative balance protection that ensures you cannot exceed your account balance.
  • Advanced encryption technologies to guard against attacks and frauds.
  • Daily internal reconciliations are undertaken to ensure solvency.
  • An annual audit is carried out by an independent auditor.

Furthermore, this review was particularly impressed with Ayondo’s free insurance policy. Introduced in 2020, this covers up to £1,000,000 in excess of the standard FCSC cover for each client. In fact, this is among the most comprehensive cover in the industry.

Ayondo Regulation & License

With an increase in the number of fake and fraudulent brokers, it’s important to check your broker is regulated. Thankfully, Ayondo Markets Limited in London is regulated by the Financial Conduct Authority (FCA). This ensures the company must adhere to regulations designed to protect consumers. This includes protecting your capital in a range of scenarios, such as bankruptcy.

Ayondo Portfolio Management GmbH is regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin, registration number 145765.

Benefits

Customer feedback shows Ayondo scores particularly well in several areas:

  • There is a straightforward performance-based commissions system for Top Traders.
  • There is a wide choice of instruments and markets to choose from.
  • Negative balance protection may help prevent significant losses.
  • Low capital requirements make Ayondo attractive to beginners.
  • There is an effective automated risk management system.
  • There is a generous choice of Top Traders to follow.
  • All customers have access to a free demo account.

Drawbacks

Despite access to some of the best traders, opinions were split on several aspects of the Ayondo offering, including:

  • There is only capital protection at the account level, not at trader level.
  • There is still a relatively small number of high performing signal providers to follow.
  • Ayondo doesn’t offer a listing of the contributions from individual traders towards your overall portfolio performance.
  • Although you can view a trader’s transaction history on the application, you cannot download it to Excel for external analysis.
  • When you take Ayondo vs Plus500, ZuluTrade or eToro, you realise the former falls short in terms of educational resources, such as trading manuals and tutorials.
  • Blogs and forums are quick to criticise Ayondo for not catering for APIs and automated trading. Having said this, the broker has said the MetaTrader platform will soon be available too.

Trading Hours

Ayondo’s trading hours are fairly industry standard. Trading is available between 22:00 GMT on Sunday and 22:15 GMT on Friday. Head over to their official website for upcoming holiday hours. There you will also be able to find the official opening and closing hours for particular products and markets.

Contact & Customer Service

Customer reviews of Ayondo are fairly positive in terms of customer support. Traders can make Ayondo Markets contact via live chat, email and telephone. Support is available in:

Reviews show employees are knowledgeable and can help you with a long list of technical and account queries.

Head over to the official website for the respective telephone hotline number. There you will also find their FAQ section, which is great for helping with general issues. You will also find details of their partner broker affiliate programme and the addresses of their London, Frankfurt, Singapore, and Zug offices.

Ayondo Verdict

Ayondo has come a long way in a relatively short space of time. Their social trading system is fantastic for several reasons, including low fees, amenable entry levels and access to Top Traders.

However, this review found there is still room for improvement. In particular, more could be done to show which trader has contributed most to your portfolio, as currently interpreting results can prove challenging. But overall, Ayondo fair well among competitors and you can always test drive the broker through their demo account first.

Accepted Countries

Ayondo accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use Ayondo from United States, Canada.

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  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Big Sign-Up Bonus!

  • Binomo
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    Trustful Broker. Recommended Only For Experienced Traders!

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