FXOpen vs UFX - Online Brokerage Comparison

Compare FXOpen vs UFX

FXOpen versus UFX Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$300MT465+FCA, ASIC, FSRC
$100MT4, ParagonEx450+CySEC

FXOpen and UFX Comparison

The brokers each provide STP order execution. However FXOpen is an ECN broker, which offers three accounts types, STP, ECN and Crypto. UFX is a fixed spread broker, which offers account types with improved features, including lower spreads, for higher minimum deposits.

Both broker offer MT4, thus each supports automated trading. However for this kind of trading, as well as offering no dealing desk trading conditions, FXOpen also uses Equinix infrastructure, for high speed order transmission. For discretionary (non-automated) trading, UFX offers ParagonEx (as well as MT4, as it is possible to trade in a non-automated manner on this platform as well). ParagonEx has crowd trading, that is it has a feed which references the aggregate behavior of traders to market changes. Essentially, the trader gets information about the behavior of the crowd, to help inform their own trading decisions. Crowd trading is not auto or copy trading, it is a way to potentially enhance discretionary trading, where the trader makes their own decisions.

So weighing up these brokers, both support discretionary and automated trading (with robots), but FXOpen may have some added weight on the automated aide, and UFX may have some added weight on the discretionary side. FXOpen is regulated by the FCA in the United Kingdom, the ASIC in Australia and the FSRC in Nevis. UFX is regulated by the CySEC in Cyprus.

Quick comparison

FXOpen is an ECN broker offering MT4. UFX also provides MT4, and is a fixed spread broker offering ParagonEx with a crowd trading news feed.

Minimum deposit and account types

The minimum deposit for FXOpen is €/$300 or £200. The minimum deposit for UFX is $100.

  • FXOpen offers three accounts types, ECN, STP and Crypto. The ECN account charges commissions on its markets, the STP does not charge commissions. The ECN account has a wider range of market available. The Crypto account is an STP account which additionally offers a range of Cryptocurrencies (which have a commission charge). The minimum trade size is 0.01 lots. Market news and analysis are available via RSS and an economic calendar is provided on FXOpen's 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 the ECN account, FXOpen offers Forex, Indices, Energy and Precious Metals, with 65+ available.
  • On the STP account, FXOpen provides Forex and Precious Metals, for a total of 50+.
  • On the Crypto account, FXOpen offers Forex, Precious Metals and Cryptocurrencies, for a total of 55+.
  • UFX offers Forex pairs, Indices, Energy, Precious Metals, Soft Commodities, Stocks and ETFs, with 450+ available.

Cryptocurrency CFDs

  • FXOpen offers Bitcoin, Ethereum, Litecoin, DASH, Ripple, IOTA, Ethereum Classic, Bitcoin Cash, NEO, EOS, Monero, Namecoin, Peercoin, Emercoin and OMNI.

Spreads and leverage

  • Spreads at FXOpen are variable and are from 0.0 for EUR/USD, 0.0 for UK 100, 0.0 for Gold and 0.0 for US Crude Oil (all plus commission). The STP account has higher spreads.
  • 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 FXOpen (FCA regulated) is . The maximum leverage for UFX is .

Commissions

  • For Forex, FXOpen charges a commission, which depends on volume traded, from $1.5 - $5 per standard lot per side. Other instruments have differing commission charges.
  • UFX does not charge commissions.

Platforms

FXOpen provides MT4, available for desktop, mobile and tablets. UFX also provides MT4. In addition it offers the ParagonEx platform which has the MassInsights crowd trading feed.

Comparison summary

  • FXOpen is an ECN MT4 no dealing desk broker
  • UFX is a fixed spread STP broker
  • FXOpen uses Equinix infrastructure for high speed order transmission
  • UFX offers a crowd trading feed on its ParagonEx platform
  • UFX has more markets, though FXOpen has a competitive number for an ECN broker

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