Discuss UpFX.com

[Bret Sallee]

Same for me about the web site account. Absolutely no problems with the brokerage, trading software, execution or anything else that really matters. Just an annoyance that the site isn't ready.

I've spoken to them a few times, and as I understand it they are in beta with it and it should be ready this week.

It sounds like it's going to be amazing. Fully automated, charts, the works, so I'm really looking forward to it.

A great group these guys, been really nice and fun to trade with them. I've been very happy.

That's good to hear. So are you trading live, and if so, how did you fund without the sight working?

Thanks,

 

[Stephen74]

That's good to hear. So are you trading live, and if so, how did you fund without the sight working?

Thanks,

The site and platform all work, its just the online account (web) area they aren't done with yet. As i understand it they have been open to the public just a few months. I used the instructions I got in my email for wiring, if you look at the email they send you when your account is approved it has links to all the papers and forms.

I'm sure you can get the link if you contact them. Super friendly bunch of guys.

More upfx traders can give some feedback?

 

[Stephen74]

Update: The account area is open and it's really nice.

 

[fxeasy75]

ramy,
i am getting under 2 most of the time on eur/usd. they are great in customer service as well. i really like upfx.

I just vistied their site and actually found them by surprise as I was looking for a FX broker that also carried a lot of CFDs. Their live spreads on their web for standard accts are raw spreads. As explained in their home page, they then add on to this spread as there is no commission for most accts, except institution (which we wont be worry abt)
UpFX - Live Forex Spreads

For std accts, the "load" is 0.5pips. So if u see EURUSD=0.2, be prepared to have 0.5pips spreads. Their spreads are really very good, but not all minors or crosses are being offered. Just as a caution, last week when I first entered their site, I saw that the spread for CADCHF=11pips! Very scary as most major brokers offer this pair at 3-5pips at most. When I chat w their support, she replied that those are the spreads offered by their banks. But this week, guess what, they took out quoting this pair and when I downloaded the MT4, its also MIA. Its kinda of make me wonder whether this was quickly taken out when I mentioned that the spread is out of the realm.

I noticed that the spread was abt 1.5 for eurusd on a Sunday when I downloaded their platform, but Sunday is non trading day, so its hard to judge. If their raw spreads are accurate then the spreads for most currencies are indeed outstanding. Not so for the cost of trading CFDs, they charged 30% commission for equities trading, whilst a lot of other brokerages charge abt 10%.

I didnt open an acct with them after I realised that they dont support most trading currencies and have high commission charges for CFDs. The fact that they withdrew CADCHF AFTER I sort of "alerted" them to the crazy spreads, its disturbing to a trader. What happened in live trading if they just adjust the spreads or withdraw the currency pair as and when they like. What HAPPENED to your open trades? Do they forced closed these and compensate you for the lost or do they simply ignore the situation and let the trade run to SL or margin call, since the currency had been withdrew, there is NO way for u to closed off your positions now as they wont be able to pass that transaction to their IP (liquidity provider)

Sure their spreads are really good, but can someone verify from their live acct what was happening to CADCHF, which they listed on their site and now disappear? If u had any trades whereby they were opened when the symbol was on their quote board, and now disappear, I would suggest that u quickly liaise with them to ask that THEY compensate your losses and closed these trades as I really failed to see how these trades can have liquidity as such

 

[Stephen74]

Sure their spreads are really good, but can someone verify from their live acct what was happening to CADCHF, which they listed on their site and now disappear? If u had any trades whereby they were opened when the symbol was on their quote board, and now disappear, I would suggest that u quickly liaise with them to ask that THEY compensate your losses and closed these trades as I really failed to see how these trades can have liquidity as such

I checked my live account, and I don't recall ever having that pair, nor do I have it now.

I've seen other pairs for a while, and, asking about it to them they said that they have different requests from people for pairs, but if the liquidity is bad or the pair isn't popular they will drop it. So maybe it was there and then removed, whatever the reason it doesn't matter to me. They have great spreads, my withdrawals are either done immediately (credit card) or within two days (wire). And, paying a couple bucks to make a few hundred off oil is just fine by me.

In fact, it's quite rare for a broker to have as many currency pairs (more than 30) as well as all the CFD's (over 200), all in one place. So while you're certainly entitled to your opinion, remember it's just an opinion. And my opinion after almost three years now is extremely favorable, and they are my only broker now (since others have closed my account). But it wouldn't matter, I've had over 8 broker accounts and none of them treated me as well as UpFX does. I'm certain I'm among the ranks of other happy UpFX customers.