FOREX.com vs UFX - Online Brokerage Comparison

FOREX.com vs UFX Comparison

FOREX.com vs UFX Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$50Advanced Platform, MT4, Web Trader300+FCA, ASIC, CFTC, IIROC, SFC, CIMA, FSA
$100ParagonEx, MT4450+CySEC

FOREX.com and UFX Comparison

In terms of similarities, FOREX.com and UFX both offer CFD trading, and have roots as Forex brokers - and still provide for the Forex trader. They each have online trading platforms for discretionary trading and both offer MT4.

In terms of differences, UFX uses the ParagonEx web trader as its main platform. FOREX.com's main platform is called the Advanced Platform. ParagonEx has a different layout to the Advanced Platform. The Advanced Platform has a markets lists and chart based layout, ParagonEx has boxes of markets (from where charts can be accessed), to create a clear perhaps intuitive experience.

But perhaps more significantly, ParagonEx has support for crowd trading. This is a news feed with information about the aggregate behavior of other traders to market news and events. This differs from social trading as it does not identify individual traders. It is designed to help inform trading decisions, with crowd behavior.

However FOREX.com also aims to assist the trader making decisions by providing a tool on its Advanced Platform which automates to process of charting analysis (it provides trading signals on the chart, based on templates the trader can use or build). It is possible to view crowd trading as providing signals, but the difference is that signals on FOREX.com's platform are based strategy rules for example buying and selling based on indicators. FOREX.com also provides a Reuters news feed.

FOREX.com is regulated by the FCA in the United Kingdom, the ASIC in Australia, the CFTC in the United States, the IIROC in Canada, the SFX in Hong Kong, the CIMA in the Cayman Islands and the FSA in Japan. UFX is regulated by the CySEC in Cyprus.

Quick comparison

FOREX.com and UFX support discretionary trading and provide tools to enhance this experience. Each also offers MT4, allowing trading strategies to be automated.

Minimum deposit and account types

The minimum deposit for FOREX.com is $/€/£50. The minimum deposit for UFX is $100.

  • FOREX.com offers Forex and CFD trading. The minimum trade size is 0.01 lots. It has an Economic Calendar, Market Research and a news feed on its platforms and a Trader Education course on its 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.

Markets

  • On MT4, FOREX.com offers Forex, Indices, Energy, Soft Commodities and Metals, with 110+ available.
  • On The Advanced Platform, FOREX.com offers Forex, Indices, Energy, Soft Commodities, Stocks, Metals and Cryptocurrencies, with 300+ available.
  • UFX offers Forex, Indices, Energy, Soft Commodities, Stocks, Precious Metals and ETFs, with 450+ available.

Cryptocurrency CFDs

  • FOREX.com offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple.
  • UFX offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, DASH, IOTA, Ethereum Classic, NEO, EOS, Monero, Bitcoin Gold, OmiseGO, Zcash, Aventus, QTUM, YOYOW, ETP, Santiment, Streamr, Eidoo and QASH.

Spreads and leverage

  • Spreads at FOREX.com are variable or fixed depending on the market, with variable spreads from 1.4 for EUR/USD, a fixed spread of 1 for UK100, a typical variable spread of 0.61 for Gold and 0.04 for US Crude Oil.
  • 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.

The maximum leverage for FOREX.com (FCA regulated) is . The maximum leverage for UFX is .

Platforms

FOREX.com offers the Advanced Platform, a web trader, MT4, an MT4 web trader and apps. UFX also provides MT4. In addition it offers the ParagonEx platform which has the MassInsights crowd trading feed.

Comparison summary

  • Both offer CFD trading
  • FOREX.com support discretionary trading with a range of platforms
  • It supports automated trading on MT4
  • UFX has a crowd trading news feed, which adds information about the aggregate behavior of other traders to market news
  • UFX also provides MT4
  • Both offer Forex trading and a range of other markets
  • Each has several hundred markets to trade
  • UFX offers fixed spreads, FOREX.com offers fixed and variable spreads
  • Both are regulated

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