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Compare Forex Brokers Oanda And UFX Bank


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Subjective Ratings

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Oanda

UFX Bank

Charting: Two star Charting Rating One star Charting Rating
Execution: Four 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: Three and Half star User-friendliness Rating Four star User-friendliness Rating
Platform Functionality: Four star Platform Functionality Rating One star Platform Functionality Rating
Platform Reliability: Three star Platform Reliability Rating Three star Platform Reliability Rating
Customer support: Three star Customer Support Rating Zero Customer Support Rating
Rollover interest rates: Five 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: Three and Half star Average Rating Two and Half star Average Rating

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Business Details

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Oanda

UFX Bank

 
Registered Business Name: Oanda Corporation UFX Trade LLC
Broker Headquarters: Toronto, Canada Israel
Also has offices in: Virtual offices in New York and Hong Kong Nicosia, Cyprus and Chicago, IL, USA
Regulated By: NFA (0325821)
FCM registered with CFTC
Unregulated
In business since year: 2002 2009
Broker Capital as of 11-2008 $170,799,434 Unknown
Client Account Segregation: No No
Collect Taxes on Earnings: No No
Prohibit clients from: Yes No
Deposit/Withdrawal methods:
MethodDeposit FeeWithdrawal Fee
Check (US clients) $0 $0
PayPal $0 $0
Wire Transfer $0 $0
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: P Morgan Chase, Citibank, UBS, Deutsche Bank and Royal Bank of Canada Various major European banks

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Trading Details

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Oanda

UFX Bank

 
Browser platform: FXTrade (proprietary) - MAC compatible UFX Bank by ParagonEX Trading Solutions
Downloadable platform: No None
Mobile platform: FXTrade (proprietary) - MAC compatible UFX Bank by ParagonEX Trading Solutions
Phone dealing: No Yes
Order processing: Market Maker Market Maker
Account Types
Account Maximum leverage Minimum/Maximum deposit: Minimum/Maximum trade size:
Standard Account 50:1* No mininum or maximum requirem 1/10,000,000
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   No swap-free accounts available   - swap-free accounts are charged slightly higher spreads
Tradeable Instruments: 39    40   
No Dealing Desk Execution: Yes Not available
Typical spread on EUR/USD: 0.9 pips (0.00009) 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? No 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: Yes No
Hedging capability: No Yes
Automated Trading: No No
Trading Hours:   Sunday 9 pm GMT until Friday 9 pm GMT
Timezone User-defined GMT
Scalping allowed: Yes Minimum time to close a deal after opening it is 1 minute.
Account currencies available: USD USD
Platform languages: Chinese, English, German, Japanese, Spanish Arabic, English, French, Portuguese, Spanish
Support languages: English English
Demo account: Unlimited Yes
Live chat support: Yes Yes, during UFX Bank trading hours
Interest on Margin: Yes No
Promotions & tournaments: None 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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