FXCC vs UFX Comparison

FXCC vs UFX Broker Comparison

FXCC versus UFX Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$100MT425+CySEC
$100MT4, ParagonEx450+CySEC

FXCC and UFX Comparison

FXCC is an ECN broker offering trading on MetaTrader 4 (MT4). FXCC supports automated trading, allowing the use of any Expert Advisor (EA) on MT4. UFX provides a user friendly web trader (and apps) called ParagonEx, designed for the trader who executes their own trades. However ParagonEx provides a crowd trading news feed. This contains information about markets which contains as well the reactions of the crowd of traders to this news. MT4 can be used by traders who execute their own trades as well and UFX also provides this platform. Both FXCC and UFX are regulated by the CySEC in Cyprus.

Similarity

Both offer MT4.

Difference

UFX has a web trader which offers a crowd trading news feed. FXCC provides ECN trading.

ECN vs crowd trading

Crowd trading can be seen as potentially enhancing the discretionary trading experience (where the trader makes trading decisions). This is because it aims to provide information about how other traders as a group are reacting to news. ECN trading can be seen as potentially enhancing the automated trading process, as it aims to offer fast order processing and supports trading styles such as scalping and shorter term trading (which may not necessarily be performed by robots).

Minimum deposit and account types

The minimum deposit for FXCC is $100. The minimum deposit for UFX is $100.

  • FXCC provides three account types. These are the ECN Standard account, the ECN XL account and the ECN Advanced account. FXCC's ECN XL account has a minimum deposit of $100, the ECN Standard account has a minimum deposit of $10,000 and the ECN Advanced account has a minimum deposit of $100,000.
  • All FXCC account types provide the MT4 platform, ECN/STP order execution, mobile trading, free technical analysis, SMS notifications, VPS, Economic Calendar and Trading Tools, allow Expert Advisors, scalping and hedging and provide a personal account manager. The ECN XL account additionally can offer zero commissions (T&Cs apply) and zero mark-up. The ECN Advanced account provides more markets to trade than the other account types (200+ vs 30). All trading styles are allowed at FXCC and a news feed and analysis is available on the website.
  • UFX provides CFD trading on six account types, Micro/Mini, Mini, Standard, Gold, Platinum and Islamic. The minimum initial deposit is $100 for the Micro/Mini account, $500 for the Mini account, $1000 for the Islamic and Standard accounts, $5000 for the Gold account and $10,000 for the Platinum account. The minimum trade size ranges from 0.0025 lots for the Micro/Mini account to 1 lot for the Platinum account.
  • All UFX account types have Daily Market Reviews, a Video Library, Daily Recommendations and 24hr Live Support. All except the Micro/Mini account provide a Personal Trading Coach. Standard, Gold and Platinum accounts also have VIP Trading Support and Exclusive Updates. Gold and Platinum additionally provide SMS Trading Alerts and access to MT4. At UFX there is a one minute minimum time after a position has been opened until it can be closed.

Account currencies

FXCC accounts are available in GBP, USD and EUR. UFX accounts are available in USD.

Markets

  • On the ECN Standard and the ECN XL account, FXCC provides 30 markets covering Forex and Precious Metals. On the ECN Advanced account, FXCC offers 200+ markets.
  • UFX offers 450+ markets covering Currency Pairs, Indices, Precious Metals, Energy and Soft Commodities.

Spreads and leverage

  • Spreads at FXCC are variable and are from 0.1 for EUR/USD (with a typical range under normal market conditions of 0.2-0.6) and around 0.25 for Gold.
  • Spreads at UFX are fixed under normal market conditions but vary according to the account type. The lowest spreads are for the Platinum account at 2 for EUR/USD, 0.50 for Gold and 0.05 for US Crude Oil. For the Micro/Mini account spreads are 4 for EUR/USD, 0.75 for Gold and 0.11 for US Crude Oil. For the Standard account spreads are 3 for EUR/USD, 0.65 for Gold and 0.07 for US Crude Oil.

Maximum leverage for FXCC is . Maximum leverage for UFX is .

Commissions

  • FXCC's ECN XL account does not charge commissions.
  • FXCC's ECN Standard account charges commissions of 0.75 pips per lot per side for Forex and $7.5 per lot per side for Metals.
  • FXCC's ECN Advanced account charges commissions of 0.4 pips per lot per side for Forex and $4 per lot per side for Metals, Energy and Indices.
  • UFX does not charge commissions.

Platforms

Both brokers provide MT4, available for desktop, tablet and mobile. However UFX only provides it for some account types. UFX provides the ParagonEx platform, with crowd trading features. Both brokers offer micro lot trading.

Why FXCC or UFX ?

Traders who wish to trading with online trading robots can do so at FXCC which is an ECN STP broker (this means it routes orders via its ECN using an electronic algorithm) providing variable spreads, with and without a commission charge. UFX is an STP broker offering fixed spreads. Traders who execute their own trades may use either broker, but shorter term trades may find FXCC's ECN STP environment useful. Scalpers cannot use UFX (and can use FXCC), thus traders who trade at time frames longer than the very short term, may appreciate UFX's ParagonEx online trading platform, which is user friendly, and contains a news feed offering crowd trading information.

Comparison summary

  • Both brokers offer CFD trading
  • FXCC provides MetaTrader 4 (MT4)
  • UFX offers ParagonEx
  • UFX provides a crowd trading news feed on ParagonEx
  • FXCC is an ECN STP broker
  • FXCC provides variable spreads
  • FXCC's ECN XL account can have spreads with no commission charge or mark-up
  • UFX is an STP broker
  • UFX provides fixed spreads
  • UFX does not charge commissions

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