de | cn | ru

UBFX Review - is it scam or safe?

UBFX review - Is scam or good forex broker?

RATING: 1.1 / 1 REVIEWS ForexBrokerz UBFX
UBFX is an offshore broker. Your money is not safe.


UBFX is an offshore forex and CFD broker, offering over 50 currency pairs and contracts for difference on various other assets like precious metals, energy commodities and indices with leverage as high as 1:400 and the MetaTrader4 platform.


Account type Min. deposit Max. leverage Spreads/ Payout
Standard Account $1


1,6 pips
Islam Account $1 1:400 1,6 pips
Corporate Account $50 000 1:400 0,5 pips
Raw Spread Account $50 000 1:400 0,1 pip


And the broker say to be registered with the Vanuatu Financial Services Commission (VFSC). Such an offshore license, however, is far from the standards established in the European Union, the U.S., Canada, Australia, Japan or any other major regulated market, so if you are considering investing your funds with them be sure to read the following paragraphs.


UBFX Advantages:


A variety of trading instruments


UBFX says to be offering over 50 currency pairs, as well as CFDs on precious metals, energy commodities and indices, but as the broker does not mention anything about crypto assets, here you may check as well our list of brokers trading with bitcoin CFDs:


>>Bitcoin Forex Brokers<<


Leverage as high as 1:400


Leverage as high as 1:400 is rarely seen with legit brokers these days, especially since virtually all major regulators throughout the industry capped the maximum leverage allowed with retail forex and CFD trade to levels well below 1:100. So our advise here is to use leverage with extra caution, because of the higher risks.


MetaTrader4 supported


The presence of MetaTrader4 is always welcome. This is by far the most widely used trading platform in the industry, featuring over 60 market indicators and a number of customizable trading robots, with the help of which one can easily run algorithmic trading sessions. And what is more the platform is equipped with a set of advanced charting tools, so here you may also check our list of MT4 brokers:


 >>MT4 Brokers<<


You can start trading with virtually 1 USD


This is in line with the best practices on the market. Still, bear in mind that some well known brokers like FBS and IG will let you open a micro trading account with just a couple of dollars as well.


UBFX Disadvantages:


Dubious license


As we already noted UBFX is an offshore broker, based on the tiny atoll of Vanuatu. If you have ever wondered where Vanuatu is, it is right in the middle of the South Pacific – several thousand miles off the shores of New Zealand. So basically you may guess why we are concerned about the legitimacy of a Vanuatu license. The Vanuatu Financial Services Commission (VFSC), although they raised the  minimum capital requirement for forex brokers to 50 000 USD in July of 2017, from the previous required 5000 USD, simply lacks the capacity to oversee internationally operating brokers like UBFX. 


As a comparison an EU broker, licensed and authorized by one of the official financial regulators of the Union like the Financial Conduct Authority (FCA) in the UK or let say the Cyprus Securities and Exchange Commission (CySEC) will be required to hold at all times no less than 730 000 EUR to cover all outstanding payments to clients. 


On top of that EU regulated brokers are required to keep all clients funds in a protected from creditors trust account, to provide them with a negative balance protection, to file regular reports, to allow external audits and even to insure part of the trading capital.


So for example with a FCA broker you will get the protection of a client compensation fund that will grant the first 85 000 GBP in your account even in the unlikely event your broker files for bankruptcy. So that is why our general advise is to trade only with properly regulated companies. Here you may check our list of FCA regulated brokers:


 >>FCA Regulated Forex Brokers<< 


No demo account directly available


Unfortunately we were not able to directly open a demo account, so we can not comment on UBFX spreads. Still, here you may also check our list of brokers offering tighter spreads:


 >> Lowest spread forex brokers<<


Skrill not accepted as payment method


UBFX accepts payments with credit cards like VISA and MasterCard and bank wire, but not Skrill and that is notable because of the new anti scam policy of the money transfer company. According it Skrill partners only with properly regulated brokers, and as we already discussed with its Vanuatu license UBFX can not pass for a licensed broker. In any case, here you may check our list of brokers, where you will be able to pay with Skrill:


>>Brokers accepting Skrill<<




UBFX is a law credibility, offshore broker, we can not recommend for obvious reasons – they are not properly licensed, which mans that your money will not be safe. And we will repeat our usual advise – you can rely only on brokers, licensed and authorized by an official regulator, such as the FCA in the UK, CySEC in Cyprus and ASIC in Australia.

Latest news about UBFX
No news about UBFX. Check back later.
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Cyprus, SVG CySEC MT5, Web,
$100 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for UBFX
















Price feed















Customer service










de | cn | ru