image UFX VISIT UFX image OctaFX VISIT OCTAFX image IG VISIT IG
About

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

OctaFX is regulated by Financial Conduct Authority soon. OctaFX have provided Forex trading services since 2011.

IG is regulated by the Financial Conduct Authority and ASIC. IG have provided forex, spread betting, CFD, and stock trading services since 1974.

Why choose them?
  • Yes Over 11 years in business
  • Yes Segregates clients funds
  • Yes Regulated by CySEC
  • Yes Over 7 years in business
  • Yes
  • Yes
  • Yes Over 44 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
Headquarters 26 Makarios III Avenue, Mesa Geitonia, Limassol Cyprus London, UK London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting No No Yes
Social Trading Yes No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 49 90
Commodities Offered 0 34
Stocks Offered 372 8000
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes No Yes
Penny stocks No No No
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes No 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

Losses can exceed deposits

See all instruments

76% of retail investor accounts lose money when trading spread bets and 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 Yes No
MT4 Mac No No Yes
WebTrader Yes Yes Yes
Mirror Trader No No No
ZuluTrade No No No
Sirix No No No
cTrader No Yes No
PAMM No No No
Custom Platforms MassInsights No ProRealTime & L2 Dealer

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes No No
Available Languages

Arabic, English, French, Portuguese, and Russian

English

English, French, German, Spanish, and Portuguese

See platform & features

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

See platform & features

Losses can exceed deposits

See platform & features

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by UFX and OctaFX

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

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

See account options

Losses can exceed deposits

See account options

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

TRADING CONDITIONS

Scalping No Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server No No Yes
Direct market access No No Yes
STP broker Yes Yes Yes
Market maker Yes Yes No
Min trade $125 0.01 Lot £1
Max trade None 10 Lot Variable
Min deposit $500 $5 $250

RISK MANAGEMENT

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

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller Yes Yes No
Skrill No No No
Payment processing time Varies Varies Varies
Withdrawal processing time Varies Varies Varies
See all funding options

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

See all funding options

Losses can exceed deposits

See all funding options

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

DETAILED INFO

Excluded countries US US BE,FR,IN,IL,PL,ZW
Contact email Send Email Send Email Send Email
phone number 44.208.150.0778 44 20 3322 1059 44 20 7633 5300
Live Chat Yes No Yes
Website https://www.ufx.com/ https://www.octafx.co.uk/ http://www.ig.com/
Forex Spreads
EUR/USD 4.00 0.60
GBP/USD 5.00 0.90
USD/JPY 4.00 0.70
AUD/USD 5.0 0.6 0.6
Cryptocurrency Spreads 2000.0 N/A 10
View all FX spreads

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

View all FX spreads

Losses can exceed deposits

View all FX spreads

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

INDICE SPREADS
Dax 30 600 0.6 1.0
Nasdaq 100 350 0.2 1.0
Euro Stoxx 50 N/A 1.0 1.5
ASX 200 1.0
S&P 500 150 0.2 0.4
FTSE 100 N/A 0.4 1.0
Google 20.0 N/A 1 to 20
Facebook N/A N/A 4 points per side
View all spreads

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

View all spreads

Losses can exceed deposits

View all spreads

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

FEES

Inactivity Fee Yes No Yes
Commission Yes No Yes (0.1%)
Deposit Fee No No Varies
Withdrawal Fee No No No
View All Fees

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

View All Fees

Losses can exceed deposits

View All Fees

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

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Last update

All information collected from https://www.ufx.com/. Last updated on 01/06/2019.

All information collected from https://www.octafx.co.uk/. Last updated on 01/06/2019.

All information collected from http://www.ig.com/. Last updated on 01/06/2019.

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.

OctaFX is an online forex trading service provider who are regulated by the Financial Conduct Authority. To open an account with OctaFX, minimum deposits start from $5.

With OctaFX you can trade Forex. If you like to trade on the go, OctaFX have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

OctaFX offer MetaTrader 4, Metatrader 4 for PC, Metatrader 4 for iOS, Metatrader 4 for Android, cTrader, cT Desktop, cT iOS, cT Android, cT Web-based client platforms to make your trades and support 7 different languages.

The spreads offered by OctaFX for the most popular instruments are:
0.6 EUR/USD, n/a FTSE 100, 4.5 GOLD,
0.6 GBP/USD, n/a DOW/JONES, n/a Crude Oil,
see all the spreads here.



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

Founded in 1974, IG are one of the largest and most respected brokers in the world. With over 125,000 traders, low margins and spreads, and a range of platforms, they're a popular choice for traders looking for a reputable broker that also offers a good range of markets and trading options.

IG are also one of the few brokers that offer experienced traders the chance to upgrade to an elective professional status. For more information about trading with IG, we have put together an indepth IG review with all the pros and cons about this broker.

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UFX or OctaFX?

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, OctaFX 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 OctaFX to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

UFX is regulated by CySEC, while OctaFX is regulated by FSA.

IG 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 OctaFX have been around for 8 years. Our third alternative broker, IG, have been around for 45 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.

Both UFX and OctaFX use tier one banks, but we are not sure of which bank specifically.

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.

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.

OctaFX is more popular with over 300,000 traders.

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 OctaFX 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 OctaFX are based in London, UK.

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

If you’re looking to trade commodities like gold, silver or oil, UFX may be a better fit as OctaFX does not offer commodity trading.

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 OctaFX offer this. OctaFX also offer the new & improved MT5 platform. Our alternative broker, IG, 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. IG, for example, offer a mini account, standard account and VIP account.

For Muslim traders, UFX offers an Islamic account, which doesn’t accrue interest or incur/receive rollover swap points, as this is prohibited in Shariah law. You can learn more & compare Islamic trading accounts head-to-head here.

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 OctaFX also allows scalping and hedging. You can trade with EAs (expert advisors) on both UFX and OctaFX.

In terms of risk management tools, UFX does offer negative balance protection to prevent you owing your broker more than you’ve deposited, but OctaFX doesn't offer this.

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

UFX accept Neteller while OctaFX accept Neteller.

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 OctaFX charges points. Therefore, OctaFX 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 OctaFX?

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

Objectively, OctaFX 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.

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