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Compare Forex Brokers UFX Bank And Trading Point Forex


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Subjective Ratings

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UFX Bank

Trading Point Forex

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

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Business Details

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UFX Bank

Trading Point Forex

 
Registered Business Name: UFX Trade LLC Trading Point of Financial Instruments
Broker Headquarters: Israel Limassol, Cyprus
Also has offices in: Nicosia, Cyprus and Chicago, IL, USA None
Regulated By: Unregulated FSA (UK), Bafin (Germany), FI (Finland), CySEC (Cyprus)
In business since year: 2009 2009
Broker Capital as of 05-2009 Unknown Unknown
Client Account Segregation: No Yes, client funds are segregated from company operating capital.
Collect Taxes on Earnings: No No
Prohibit clients from: No No
Deposit/Withdrawal methods:
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
MethodDeposit FeeWithdrawal Fee
Credit Card $0 $0
Liberty Reserve $0 $0
Moneybookers $0 $0
NETeller $0 $0
Wire Transfer $0 $0
Main liquidity providers: Various major European banks Unknown

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Trading Details

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UFX Bank

Trading Point Forex

 
Browser platform: UFX Bank by ParagonEX Trading Solutions None
Downloadable platform: None Trading Point Metatrader 4 (MT4)
Mobile platform: UFX Bank by ParagonEX Trading Solutions No
Phone dealing: Yes Yes
Order processing: Market Maker All orders routed through dealing desk.
Account Types
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
Account Maximum leverage Minimum/Maximum deposit: Minimum/Maximum trade size:
Micro 500:1* $1/$3,000 1,000/100,000 units Swap-free (Islamic) optional
Executive 100:1* $100,000/unlimited 100,000/5,000,000 units Swap-free (Islamic) optional
Standard 200:1* $3,000/$100,000 100,000/5,000,000 units Swap-free (Islamic) optional
Swap-free accounts   - swap-free accounts are charged slightly higher spreads   Yes - no extra charges and available to everyone, not just Islamic traders
Tradeable Instruments: 40    58   
No Dealing Desk Execution: Not available All orders are automatically routed straight through. Dealing desk exists only to deal over the phone.
Typical spread on EUR/USD: 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 1.9 pips (0.00019)
Fixed spreads: No Optional (variable by default, but client can request fixed)
Guaranteed stop losses? Yes, all stop-loss and take-profit orders are guaranteed by UFX Bank against slippage. No, all orders are executed at best available price.
Trailing Stops: None Client-side
OCO orders available: No No
If/then orders available: No No
Hedging capability: Yes Yes, traders can hold both long and short positions in the same currency pair at the same time.
Automated Trading: No Yes
Trading Hours: Sunday 9 pm GMT until Friday 9 pm GMT 00:00 GMT Sunday - 00:00 GMT Friday
Timezone GMT GMT
Scalping allowed: Minimum time to close a deal after opening it is 1 minute. Yes, all trading methods are accepted.
Account currencies available: USD AUD, CHF, EUR, GBP, JPY, USD
Platform languages: Arabic, English, French, Portuguese, Spanish Arabic, Bulgarian, Chinese, Dutch, English, Estonian, Farsi, French, German, Greek, Hebrew, Hungarian, Italian, Japanese, Korean, Lithuanian, Polish, Portuguese, Russian, Serbian, Simplified Chinese, Slovak, Spanish, Traditional Chinese, Turkish
Support languages: English English, French, Greek, Japanese, Malay, Polish, Russian, Spanish
Demo account: Yes 30 days
Live chat support: Yes, during UFX Bank trading hours Yes
Interest on Margin: No Yes on unused margin
Promotions & tournaments: 25% up to $5,000 free on new client deposits. Bonus must be traded 15,000 times in volume before withdrawals can be made. 20% bonus on initial deposit, 10% on all subsequent deposits.

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