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Compare Forex Brokers FXCM And UFX Bank


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Subjective Ratings

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FXCM

UFX Bank

Charting: Four and Half star Charting Rating One star Charting Rating
Execution: Five star Execution Rating Four star Execution Rating
Transaction costs (spreads): Four star Transaction Costs (spreads) Rating Two and Half star Transaction Costs (spreads) Rating
User-friendliness: Four star User-friendliness Rating Four star User-friendliness Rating
Platform Functionality: Five star Platform Functionality Rating One star Platform Functionality Rating
Platform Reliability: Four star Platform Reliability Rating Three star Platform Reliability Rating
Customer support: Four star Customer Support Rating Zero Customer Support Rating
Rollover interest rates: Four star Rollover interest rates Rating Four and Half star Rollover interest rates Rating
Withdrawal processing: Four and Half star Withdrawal processing Rating One star Withdrawal processing Rating
Average rating: Four and Half star Average Rating Two and Half star Average Rating

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Business Details

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FXCM

UFX Bank

 
Registered Business Name: Forex Capital Markets LLC UFX Trade LLC
Broker Headquarters: New York City, USA Israel
Also has offices in: London, Hong Kong and Tokyo Nicosia, Cyprus and Chicago, IL, USA
Regulated By: USA: NFA (0308179), registered FCM with CFTC
UK: FSA (217689)
Hong Kong: SFC (CE: AIM232)
Unregulated
In business since year: 1999 2009
Broker Capital as of 11-2008 $131,416,979 Unknown
Client Account Segregation: Available to all clients of FXCM UK which welcomes US-based clients. No
Collect Taxes on Earnings: No No
Prohibit clients from: Yes No
Deposit/Withdrawal methods:
MethodDeposit FeeWithdrawal Fee
ACH $0 $0
Check $0 $0
MasterCard $0 $0
Visa $0 $0
Wire Transfer $0 $40
MethodDeposit FeeWithdrawal Fee
Diners Club $0 $0
MasterCard $0 $0
Moneybookers $0 $0
NETeller $0 $0
PayPal $0 $0
Visa $0 $0
WebMoney $0 $0
Western Union $0 $0
Wire Transfer $0 $0
Main liquidity providers: 10 top-tier banks - names not disclosed Various major European banks

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Trading Details

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FXCM

UFX Bank

 
Browser platform: Java Trading Station (for Mac users) or FXCM ActiveTrader UFX Bank by ParagonEX Trading Solutions
Downloadable platform: FXCM Trading Station 2.0, FXCM MetaTrader 4 (MT4) None
Mobile platform: Java Trading Station (for Mac users) or FXCM ActiveTrader UFX Bank by ParagonEX Trading Solutions
Phone dealing: Yes Yes
Order processing: Straight-through to multiple liquidity providers Market Maker
Account Types
Account Maximum leverage Minimum/Maximum deposit: Minimum/Maximum trade size:
Gold Account 200:1* $25,000/unlimited 10,000/50,000,000
Standard Account 200:1* $2,000/unlimited 10,000/50,000,000
Account Maximum leverage Minimum/Maximum deposit: Minimum/Maximum trade size:
Platinum Account 200:1* $10,000/unlimited 10,000/20,000,000 units
Mini Account 200:1* $500/$999 5,000/200,000 units
Standard Account 200:1* $1,000/$4,999 5,000/1,000,000 units
Gold Account 200:1* $5,000/$9,999 5,000/2,000,000 units
Swap-free accounts       - swap-free accounts are charged slightly higher spreads
Tradeable Instruments: 32    40   
No Dealing Desk Execution: All orders Not available
Typical spread on EUR/USD: 2.3 pips (0.00023) 2 pips (0.0002) for Platinum Accounts, 3 pips (0.0003) for Gold Accounts, 4 pips (0.0004) for Standard Accounts, 5 pips (0.0005) for Mini Accounts
Fixed spreads: No No
Guaranteed stop losses? All orders are executed at best available price. Yes, all stop-loss and take-profit orders are guaranteed by UFX Bank against slippage.
Trailing Stops: Server-side None
OCO orders available: Yes No
If/then orders available:   No
Hedging capability: No Yes
Automated Trading: Yes, on MT4 No
Trading Hours: Sunday 5:00PM ET to Friday 4:00PM ET Sunday 9 pm GMT until Friday 9 pm GMT
Timezone User-defined (GMT is the defau GMT
Scalping allowed: Yes, FXCM does not impose any restrictions on your trading style. Minimum time to close a deal after opening it is 1 minute.
Account currencies available: AUD, CAD, EUR, GBP, JPY, NZD, USD USD
Platform languages: English Arabic, English, French, Portuguese, Spanish
Support languages: Arabic, Chinese, French, German, Italian, Japanese, Portuguese, Russian, Spanish, Urdu English
Demo account: 30 days Yes
Live chat support: Normally 24/7 but may be down for weekly maintenance outside of trading hours. Yes, during UFX Bank trading hours
Interest on Margin: No No
Promotions & tournaments: Courses and seminars/webinars with professional traders offered to real account holders. Gold account holders also get preferred treatment, free ProRealTime Charting package and a complimentary $1,000 daytrading course. 25% up to $5,000 free on new client deposits. Bonus must be traded 15,000 times in volume before withdrawals can be made.

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