Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

UFX
7.7 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT UFX
FX Global Markets
6.8 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT FX GLOBAL MARKETS
XTB
10 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT XTB
About

UFX is regulated by CySEC. UFX have provided Stocks, Indices and CFDs, Currencies, Commodities, ETFs trading services since 2007.

FX Global Markets is regulated by the Financial Conduct Authority and CySEC. FX Global Markets have provided Forex, Stocks, Commodities, Indices, CFDs trading services since 2011.

XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002.

Why choose them?
  • Yes Over 11 years in business
  • Yes Segregates clients funds
  • Yes Regulated by CySEC
  • Yes Over 7 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, CySEC
  • Yes Over 16 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, KNF, and CMB.
Headquarters 26 Makarios III Avenue, Mesa Geitonia, Limassol Cyprus Depaho Limited, Artemisia Business Center, 14 Charalambou Mouskou 2014, Strovolos Nicosia, Cyprus Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting No No No
Social Trading Yes No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 49 38 48
Commodities Offered 0 15 21
Stocks Offered 372 57 1606
Bitcoin Yes Yes Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks No Yes Yes
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes Yes Yes
FTSE Yes Yes Yes
Dow Jones Yes Yes Yes
Dax Yes Yes Yes
Nikkei Yes Yes Yes
ETFs Yes No Yes
IPO No No Yes
See all instruments

74.3% of retail investor accounts lose money when trading CFDs with UFX.

See all instruments

87% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

75% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 No No No
MT4 Mac No No Yes
WebTrader Yes Yes Yes
Mirror Trader No No Yes
ZuluTrade No No No
Sirix No No No
cTrader No No No
PAMM No No No
Custom Platforms MassInsights PROfit Xstation5

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes Yes Yes
Available Languages

Arabic, English, French, Portuguese, and Russian

English, Spanish, Arabic, Italian, French, and Polish

English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

See platform & features

74.3% of retail investor accounts lose money when trading CFDs with UFX.

See platform & features

87% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

75% of retail investor accounts lose money when trading CFDs with this provider.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by UFX and FX Global Markets

Demo account Yes Yes Yes
Mini account Yes No Yes
Micro account Yes Yes Yes
Standard account Yes Yes Yes
ECN Account No Yes No
Islamic account Yes No Yes
Zero spread account No No No
VIP account No Yes Yes
Fixed spreads Yes Yes Yes
Variable spreads No No Yes
See account options

74.3% of retail investor accounts lose money when trading CFDs with UFX.

See account options

87% of retail investor accounts lose money when trading CFDs with this provider.

See account options

75% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping No No Yes
Hedging Yes No Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server No Yes No
Direct market access No No Yes
STP broker Yes Yes Yes
Market maker Yes Yes Yes
Min trade $125 0.01 Lot 0.01 Lot
Max trade None None 100 Lot
Min deposit $500 $200 $1

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes No Yes
Signal trading Yes Yes Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller Yes No Yes
Skrill No Yes Yes
Payment processing time Varies 1 business day Same day if requested before 1PM
Withdrawal processing time Varies 10 business days Same day if requested before 1PM
See all funding options

74.3% of retail investor accounts lose money when trading CFDs with UFX.

See all funding options

87% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

75% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US US US,IN,PK,BD,IQ,IR,IL,AF,AU,CA
Contact email Send Email Send Email Send Email
Phone number 44.208.150.0778 357 77 788 388 44 2036953085
Live Chat Yes Yes Yes
Website https://www.ufx.com/ http://www.fxgm.com/ www.xtb.com
Spreads:
EUR/USD (Average: 0.7 pips) 4.0 pips Not offered 0.1 pips
GBP/USD (Average: 1.1 pips) 5.0 pips Not offered 0.1 pips
USD/JPY (Average: 1.1 pips) 5.0 pips Not offered 0.1 pips
AUD/USD (Average: 0.8 pips) 5.0 pips Not offered 0.2 pips
USD/CHF (Average: 2.3 pips) 10.0 pips Not offered 0.2 pips
USD/CAD (Average: 2.9 pips) 6.0 pips Not offered 0.3 pips
NZD/USD (Average: 3.6 pips) 7.0 pips Not offered 0.3 pips
EUR/GBP (Average: 2.4 pips) 7.0 pips Not offered 0.1 pips
View all spreads

74.3% of retail investor accounts lose money when trading CFDs with UFX.

View all spreads

87% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

75% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee Yes Yes No
Commission Yes No Yes
Deposit Fee No No No
Withdrawal Fee No No No
View All Fees

74.3% of retail investor accounts lose money when trading CFDs with UFX.

View All Fees

87% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

75% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from https://www.ufx.com/. Last updated on 01/12/2019.

All information collected from http://www.fxgm.com/. Last updated on 01/12/2019.

All information collected from www.xtb.com. Last updated on 01/12/2019.

Company

UFX was founded in 2007 and is regulated by CySEC. UFX is a STP broker which means they do not take opposing trades to yours, this means their success is bound by your success.
They offer fixed and stable spreads across a multitude of markets around the globe using state of the art technology, including their award winning proprietary platform. Their focus on customer service has led to a number of industry awards and can be contacted 24 hours a day Mon to Fri. UFX processes are encrypted and secure, to ensure your funds are always safe.

For more information about trading with UFX, we have put together an indepth UFX review with all the pros and cons about this broker.

FX Global Markets is an online forex trading service provider who are regulated by CySEC, Financial Conduct Authority. To open an account with FX Global Markets, minimum deposits start from $100.

With FX Global Markets you can trade CFDs, forex, stocks, commodities, and indices. If you like to trade on the go, FX Global Markets have iPhone and Android apps so you can trade from anywhere on your phone.

FX Global Markets offer PROfit, WebPROfit, Mobile PROfit, MetaTrader 4 platforms to make your trades and support 7 different languages.

They also offer traders free educational material to better understand the markets and trading strategies.

The spreads offered by FX Global Markets for the most popular instruments are:
3 EUR/USD, 6 FTSE 100, GOLD,
3 GBP/USD, 35 DOW/JONES, 6 Crude Oil,
see all the spreads here.

XTB provides hyper fast execution and facilitates seminars with external professional traders, providing personalised education depending on your individual circumstances.

XTB operates with two factors in mind; to provide traders with the fastest execution speeds and to be the most transparent broker on the market, which is reflected by the services and products they provide.

XTB also have a dedicated education area - the Trading Academy - which contains material to help you become a better trader, including video tutorials, trading courses, articles and much more to improve your skills at every step of your trading journey.

If you are looking for a broker that is regulated by the Financial Conduct Authority and focuses on transparency, fast execution speeds and customer service, XTB is a great option.

For more information about trading with XTB, we have put together an in-depth XTB review covering the pros and cons of this broker.

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UFX or FX Global Markets?

A wide range of instruments or low spreads?

If you’re a trader looking for a broker that offers a wide variety of instruments to trade, UFX is likely the better option out of these brokers. However, if you want a broker with lower spreads on currency pairs like EUR/USD, FX Global Markets may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider UFX and FX Global Markets to be equally reliable. We’ve broken down why below:

Who are they regulated by?

UFX is regulated by CySEC, while FX Global Markets is regulated by Financial Conduct Authority, CySEC.

As the Financial Conduct Authority are one of the most stringent regulators in the world, FX Global Markets will have very strict guidelines to follow to ensure they protect their retail trader clients.

XTB are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

UFX has been around for 12 years, while FX Global Markets have been around for 8 years. Our third alternative broker, XTB, have been around for 17 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

UFX uses tier one banks as their banking partner.FX Global Markets does not use tier one banks as their banking partner.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on UFX or FX Global Markets in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both UFX and FX Global Markets are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

UFX are based in 26 Makarios III Avenue, Mesa Geitonia, Limassol Cyprus, while FX Global Markets are based in Depaho Limited, Artemisia Business Center, 14 Charalambou Mouskou 2014, Strovolos Nicosia, Cyprus .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both UFX and FX Global Markets offer forex trading. UFX have a slightly larger variety of currency pairs with 49 pairs, compared to 38 offered by FX Global Markets. Also, if you’re looking to trade cryptocurrencies, UFX offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

Both UFX and FX Global Markets allow you to trade commodities like gold, silver and crude oil.

UFX also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both UFX and FX Global Markets offer this. Our alternative broker, XTB, also offers MT4 and MT5.

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. XTB, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

UFX does not allow scalping but allows hedging. While FX Global Markets does not allow scalping or allow hedging. You can trade with EAs (expert advisors) on both UFX and FX Global Markets.

In terms of risk management tools, both brokers offer negative balance protection to prevent you owing your broker more than you’ve deposited.

UFX also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

UFX accept Neteller while FX Global Markets accept Skrill.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, UFX charges 4.00 points, while FX Global Markets charges points. Therefore, FX Global Markets is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: UFX or FX Global Markets?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, FX Global Markets is more reliable based on our criteria above. UFX has a wider range of instruments to trade. UFX offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.