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UFX.com (UFXMarkets.com, UFXBank.com) Review Visit site

Updated: Nov 19, 2018
SCAM
1.412 · 139 REVIEWS
Is this your company?

SCAM CONFIRMATION


November 2012:  There are now 3 guilty verdicts against this company in the FPA Traders Court.  The FPA recommends against dealing with this company.

The FPA now considers UFX Markets to be a scam.  This company is hereby blacklisted by the Forex Peace Army.  We recommend against opening accounts there.  If you have an account there, we recommend withdrawing all of your funds immediately.

SCAM CONFIRMATION

WARNING 2: UFX Bank claimed that they hired a black hat SEO company to do search engine optimization.  They blamed that company for leaving the fake reviews.  The FPA wonders what sort of broker would hire an organization like that and then allow a black hat organization to have direct access company servers.  The FPA wonders just how safe client data would be under those circumstances.

WARNING: This company has repeatedly submitted fake positive reviews for itself from their offices in Israel. They have now decided to leave fake customer testimonials in the FPA's forums. The FPA recommends the highest level of caution dealing with this company.

Click here to read more about UFX's fake reviews and forums posts.

Other websites related to this company include UFX.com, UFXBank.com, and UBinary.com

UFX is a forex  broker. UFX offers the Mobile and MT4 trading currency platforms. UFX.com offers currency pairs, cryptocurrencies and stocks for your personal investment and trading options.

UFX.com (UFXMarkets.com, UFXBank.com)

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Court cases

  • Open0
  • Resolved0
  • Not guilty0
  • Guilty3
Case IDFiledCase nameVerdict
2012-0822012-10-07Alisaleh vs. UFXMarkets.comguilty
2011-0842011-11-01 QASSIM KERAIB vs www.ufxmarkets.comguilty
2011-0302011-03-24alaa.almalki vs. UFXBank.comguilty

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Scam!
1.412 · 139 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

Anhho,
Australia,
Nov 27, 2016,
Registered user

"I have reached a settlement with the company. Though I did not receive back all the I lost, I consider the arrangement to be sufficient to the extent that I now consider the case to be resolved. I have to say that I was treated in a fair manner by Adam Miller

Oct 10, 2016 - 1 Star Hi all victims who got scam by Ufx. I am also a victim of ufx lies and scams. I would like to invite all victims or even not victims ( people who want to prevent ufx lies and scams to everyone) please to join in our group to fight against ufx. I would like to get some more people then we could start together to destroy ufx forever. We could not stand like that to allow ufx to deliver ufx lies and scams to the community. I have already had a plan. When our group has some more people we could start the plan as soon as possible. At the momet we have some from Afghanistan, USA, Australia...Furthermore, I have my lawyers so if anyone needs help please let me know. Please send me an email to zinana108@yahoo.com i am looking forward to hearing from you guys soon then we can start everything. The more people will be better for everything. Thank you very much
Sakito Takahashi,
Japan,
Oct 7, 2016,
Registered user

Sam D souza is lier and stole my money about 5000$!Σ(×_×;)!I couldnt get my money(*_*)...
coincafe,
Italy,
Sep 28, 2016,
Registered user

A broker to be avoided

CAUTION !!!! Bad broker , platform manipulation with very high spread changes .... platform blocked ability to work

ATTENZIONE !!!! Broker pessimo, manipolazione della piattaforma con variazioni di spread altissimi.... blocco della piattaforma con impossibilità ad operare
sravan,
perth, Australia,
Sep 7, 2016,
Registered user

This broker firm is very bad, their signals and trading strategies are very bad i lost $1000 usd with all the false signals given by my brokers and there wont be a proper response when you loose money they will change leverage so that you cant recover when you loose, I called my broker to call me when i loose the money and asked him why did i loose he replied i dont know, but i followed his signals and the next email after that was sending price may go up or down even a non trader knows price may go up or down. They steal all your money guys dont trade with ufx.com
liam,
, United Kingdom,
Jun 13, 2016,
Guest

had some issues but after extensive talks with an advisor, my complaint was resolved fairly.

2016-02-10 1Star the company is very reckless and offers a very abysmal service. there is no care for a client's funds and offer next to no help when things go wrong. they lead you on a very dark path that cannot have a positive outcome.
yasmeen,
london, United Kingdom,
May 23, 2016,
Registered user

U F X complain
20/05/2016

1 After attending many seminars and workshop on forex trading I finally came across UFX markets, because I thought they were the most transparent and honest broker . On their Website they said they are regulated by the FSA

A) “UFX is an internationally recognised leader in the online trading industry. In 2011, UFX became regulated in the European Union and our global business is regulated by the Cyprus Securities and Exchange Commission (“CySEC” or the “Regulator”) and subject to CySEC Rules, thereby adhering to the highest ethical standards, customer protection, and security of funds. The license number is 127/10”.

B) We are an STP (Straight-Through-Processing) broker, meaning we do not take opposing trades to yours, and we offer fixed and stable spreads. Our state-of-the-art platform caters to traders of all levels, our customer support centre has won numerous awards for excellence in the uk forex markets, and our reliability is second to none and have won many awards

I started trading with UFX 2 months ago I deposited $500 with credit card I was assigned a personal trading advisor (Jennifer R) and started to trade straight away I made very little profit around $ 5 and kept on opening trade by the trading advisor and was told don’t worry I don’t need to know too many things as from now on, I will have someone with me who will advise me and be there for any trades I open, I won’t be left alone to make decision, and will be mentored all the time.
Soon I was told I need to add more funds to my account as there was something big coming to the market and I need to take the opportunity.
Every day I received call from Jennifer about trading opportunities and again am told that I need to add funds to be able to trade.
I WAS pushed to keep adding funds and told in forex trading the sky is the limit .I was asked if I had any assets or money anywhere and if I did ,I should bring everything to the trading account because very soon I will see the incredible return otherwise I will regret and that’s what the managers done too for themselves, they said they speaking from their experiences, again and again I was told very big opportunities coming in the market which I shouldn’t miss, I was told to ask for a loan from the bank if I can’t get funds from anywhere else otherwise I will regret and then they gave examples of their other clients who followed their strategies and really making a lot of money .
They said they were going to work together with me so I can eventually quit my job and attain full financial freedom and they were very convincing.

I added another £4500 via wire transfer not credit card as I had the cash, Then I was told I will be transferred to a another manager (Tom P) who is higher and better who will help me to maximise my profits because I am now at a different level in my account.
The new manager was very nice and very convincing and soon again I was told to add more funds and pressurise because of something big happening and promise it will double triple and much more profits I will be making in a very short time,

He called me every day and told me where I need to open trade and how much and explain the platform a little bit, I was learning as I am a completely beginner. Many trades were open and close with profits.

Then I was sent Down Jones charts and told Down Jones is a bigger contract and needed more funds as the returns is quite big and what I can profit/achieve in a few months I will be able to achieve in a week or more with the Down Jones.

Again I was pressurised to add more and more funds I was told that we will be working on a different strategy and the more fund I added the higher points I can trade with the Dow Jones by then my balance was funded up to $40,000 by many payments through the credit cards.

Again I was told to pump in more funds into the account ,when I said I can’t make any more payment from credit card from , I was told to take a loan from bank or remortgage if I can, when I said I can't do any of this I was told some of the people have gathered colleagues and friends and raised money together that was a very good and easy way to add funds .I was send a copy of a strategy done by one of the client who has gathered 10 colleagues together and raised quite a lot of money more than a $100,000, I was told by doing this he will make incredible profits in a short term through his trade in Dow Jones.

He told me if I knew friends, colleagues and families he will speak to them and explain and said I should show my portfolio and they will be convinced. I was told the company was regulated and had the client’s best interest in mind and UFX wanted to build a good and lasting relationship and knew that I know many people and I will recommend them to UFX and I was a very important client for them.

I became like an addict I was constantly looking for funds to add to the account, and was asked every time more fund needed to come because of another big opportunities etc...

I have gathered 3 colleagues and raise funds and funded the account again
Then I was told if I can get more people.
I asked to withdraw $1,500 and it was processed many days later then every time I said I need to withdraw funds I was advised to leave it in the account for more days because we waiting for this and that big opportunities and it was better to have the funds then I can withdraw.

Every time I have told the manager that I have credit card deadline to pay so I need to withdraw money I'm told wait until the last minute I then he will ask for an express withdrawal request. I told him I spoke to the bank and they said the money must be in 3 days before and Ufx take a long time for money to clear and be in the account. I was convince again not to worry and he will do it today before he leaves the office and better leave the money for couple of hours today because of the us non-farm announcements it was Friday the 06/05/16 right I was told again if I have spoken to my other friends and told them to wire me the money to my account and then I can transfer it to UFX and have the money ready for Monday Tuesday so we can start trading on oil and I was emailed the chart about oil and told from next week it will be literally like money on the floor that’s how profitable it will be, I spoke to my friend and he said he is not able to wire in $45,000 this week it will be next week and 2 more friends said the week after they will give me $ 10,000 each.
I told my personal trading advisor Tom that it wasn't possible this week.
Few days before Friday and that Friday I had opened many trades and all resulted in profits all the trades I opened were, I was following my personal training advisor and he was telling me what to do how many contracts to add and if the trade was closed reopen them again and keep on profiting from it. All was under guidance from the advisor, if something was opened wrong or by mistake I will speak to him straight away and he in turn was monitoring all the trades.
Friday the 06/05/16 by 1.25 pm most of the open trades were closed and I was on the phone with my advisor my balance on my account was around $130,000 out of which around $70,000 was just profits.
I was going to withdraw my profits and the credit card payment withdrawal that I have repeatedly ask before and he was going to do it that day. I have worked very hard and I was told again and again that I was a very valuable client in the company it wasn’t a lie they really meant it, and soon the way I was working I will very soon reach $180,000 then more and more, however when I reach $150,000 I don’t need to worry about withdrawing profits because on even a quiet week I will be able to withdraw a quarter of my balance without worrying about my margin and equity.
Balance reached around $135,000.
That Friday I was asked again to wire in more funds before the announcement happens because after the US non-farm announcement more opportunity will be here with big profits.
5 minutes before the US non-farm announcement I was still on the phone with Tom my Personal trading advisor and reminded him not to forget that he need to put the request for withdrawal to pay the credit card because Monday the money should be in, he told me don’t worry he knows and will do it. Then I was TOLD to open 3 trades on gold 5 minutes before the announcement and was told that it will close with profits within 5 minutes my account went from $135,000 TO $0. It was like a kiss of death

Everything was going so well I was in shock and never at any point was I advise to put a stop loss that this can be very risky during these times with Tom P he never spoke about stop loss or risk involved I was told that only 2% of the margin is used in trading.

I called and ask what happened I was told it was an unfortunate process which has affected a lot of people because something to do with indicators and this can happens in 1 to 15 times and it didn’t happen for a very long time , Wasn’t told this information before being told to add 3 trades for gold few mins prior to the announcement ,I shouldn’t be told to take a big risk like this without warning and we could have waited for a few hours or until Monday for the markets to correct itself then start taking advantage of the announcement even if there was a 1% of risk involved to open a trade just before a crucial announcement I should have been told and also told to add a stop loss it will be better to lose a few thousands or not to add any trade at all during this uncertain times than losing everything. I was told don’t worry just go home and don’t think about this at all during the weekend and Monday we will speak about it he will be here and help me and do whatever he can to sort this out and I shouldn’t be negative at all and we are in this together and I must trust him he will do everything he can..
I spent the whole weekend in extreme dilemma and shock, didn’t know what to do and couldn’t believe what happened, I called friends and family to borrow me some money to pay the credit card but couldn’t find any help anywhere. Was very stress and depressed I wanted to kill myself I didn’t know how I will tell the other 3 people who have added funds in my trading account couldn’t face them and told them the truth, they have believed in me so much and trusted me with the money and I have showed them the account summary of how much trade I’m opening and the profits I’m making. I wanted to take my own life I couldn’t find any solution I had only £ 10 left.

Monday morning I started to make phone call to UFX no one pick the phone I tried all their extensions but no reply, I emailed Tom and reminded him that he needs to call me and sorted this out he told me I was a priority for him and he was going to try his best to see what can be done.
I spoke to him many time on Monday he told me he doesn’t have any solution yet and he was trying his best I called again and again, HE told me that this week was the great opportunity for oil and send me a chart and explain about something like an elastic band with the oil and I need to make sure I carry on trading he asked me if I can add some funds in the account and I told him I don’t have a penny left , he said what about the other friends n family who wanted to add money I said I can’t tell them now because of what happened I can’t ask any more money it wasn’t right I cant take any responsibility of other people money I need to sort this out first , I was told again and again that if they added money I will catch on the great opportunity on oil as it doesn’t require a big margin and balance for oil trade I simply said no that I won’t be able to do this under any circumstances. I was told in the meantime it was better to have funds in the account and carry on trading I said again I don’t have a penny left.
THEN he said he will try to speak to a very dear friend of his who many years back he has done a favour and the person is also the account chief analyst and was going to ask him to return the favour for something very big he had done before, he made me believe that h=as I was very valuable to him he will use this just for me and he will also get the account as a project account. He said this shouldn’t be more than a few days.
I believed him and waited and waited, I emailed many times to call me with an update and was told that I need to wait he will let me know I was under extreme stress didn’t know where to turn.
The next day I called and called again then I was told an account manager will call me then someone called Alex Cooper the account retention manager called and said he was going to get me up and running very quickly and I needed to give them time I will surely recover and make up to $500,000 in a couple of months but I need to believe in them and be positive and don’t give up.
He asked me I need to at least fund the account with some money and I need to deposit some money he will make sure he will give me the best personal trading advisor to work with me and there are many different ways and strategies that will be put in place for this not to happened again and if I don’t want to work with Tom then he will assign one of his best trader.
I told Alex I don’t have a penny to add to the account he said Tom told him I know many people who wants to add fund with me to trade with UFX and I can ask them I said that wasn’t possible at all I can’t take responsibility of others money now I need to make sure that my case was resolved first and then I can think about it again.
When he understood that I wasn’t going to do anything he told me he was going to see if he can try to see what he can do because I was a valuable client and wanted to make sure I was trading again.
After many phone calls he kept on telling me he was doing a favour again as a valuable client and no need for me to go in the past I needed to move forward and be positive to be able to carry on and make enough to withdraw and pay the credit card too. He was going to make sure putting one of his top advisors or he will work with me himself to achieve this again and in a couple of months’ time I will forget all this after recovering again. I told him the form you send me to sign is very complicated and has too many clauses I was confused Alex said don’t worry about the form just sign it and you can start trading again , he called me many times and said that too many opportunities happening about the oil and I’m missing it.
He said he is waiting for the signed form from me.
I said I’m still waiting for the Chief complain officer to write back he said that the officer will not be doing anything big because Alex himself is the main manager,
I insisted that I feel I was messed around at the last minute and told him it feel like it was done purposely and it was a foul play. Just before a withdrawal was going to be made I was made to perform a deadly trade, and I said I have checked if something similar has happened to others too.
ALEX told me that wasn’t true and he is not aware of anything like this by then I was very annoyed, cheated, felt betrayed conned and let down Alex told me he told the chief complain officer not to answer me because we are negotiating are have come to an very good arrangements which I didn’t.
I said I still want him to look into the complaint and receive an answer, while this was the complaint procedure he should follow, Alex said that the complaint officer will give me less money and it was pointless, I insisted I want a reply not long after the complain officer Adam Miller called me and said same thing had a very long discussion with him and he said after studying my account I’m at fault and because I’m very good and important client.
After many attempt to persuade me that ufx had done everything for me and they were not at fault. If I wanted he will personally work with me to recover, I insisted that I wanted a written reply not verbal he told me he wasn’t able to do this and attempt he said he was going to see if my account can be funded by UFX with £ 10,000 then many attempts again he sad $ 13,000and called me on Sunday and said that he has emailed me a form I need to sign, dated, scanned and emailed him back the form straightaway the fund will be release by Monday.
I lost $ 130,000 and they were going to add only $13,000 and I made a complain to UFX chief complain advisor and he emailed me back and said he will answer within 5 business working days.
Before I was told to open this gold trade I have reminded the manager I need to request the withdrawal because my due date was approaching for the credit card I was told don't worry it will be requested at the end of the day .
I've lost everything in one minute by following what they said and don't know what to do I'm left without a penny and I still have to pay the credit card which is a big amount and I own the 3 colleague money for the funds they added too .ufx has said to me give it some time and be positive I will be able to gain everything back they said they don't want to lose me as a valuable client they will offer an exgratia payment of $13000 and that will be final I don't want to sign the agreement I lost $1350000 through no fault of mine .

2. They don't want to accept responsibility and said it wasn't a foul play thy have called me many times and telling me that I need to sign this no claim form they will add $13000 to

$ 15,000 for me to start trading again to regain the lost, I have lost $ 130,000 with a last minute bad advice. I have explain again and again that I had opened the last deadly trade because the personal advisor has call me and was on the phone with me telling me I need to open the trade few mins before the us non-farm announcement, Wouldn’t open the trade if I wasn’t call by phone and told to do so while I’m still on the phone.
he instructed me how many oz. on gold and how many trade , and didn't tell me it was risky I might lose everything , I’m gutted I don't know what I need to do ,the personal trader advisor knew very well that, that day I have reminded him that I need to make a withdrawal to pay the credit card , which I requested 2 weeks ago but was told not to do it now do it on Friday after the announcement ,within 5 mins everything was wiped out, not sure what to do next and if I will be able to recover this money . I've been put under extreme stress and pressure.
What Tom P my personal trading advisor told me about the favour he was going to ask the chief analysis and my account will be taken as a project this promises were not honoured and I didn’t hear anything about this again. I Emailed Tom no answer from him then Alex told me he has asked everyone not to contact me as he was the only one dealing with me until this matter is resolved.


1. The no claim form from the manager (Alex Cooper) on Sunday
No claims form
IT IS HEREBY MUTUALLY AGREED as follows:
Relianco investments ltd (ufx markets) agrees to remit to the personal account of the client the amount of $ 13000 as full settlement of any claims monetary or otherwise past present and future which the client may have against ufx markets and its employees.

the remittance is made strictly as an ex gratia payment and ufx markets admits no responsibility or wrongdoing of whatever nature in relation to the remittance or the relationship between ufx markets any of its employees or associated parties .

The client expressly and unequivocally agrees to accept the remittance of the funds and declares any all claims held against ufx markets any of its employees. Thereof to be withdrawn.

for the avoidance of any reputational loss to ufx markets and any all third parties such as but not limited to forums,blogs, public bodies, governmental or enforcement agencies ,regulatory authorities or magazines which the client has contacted regarding any and all claims against ufx markets thereof shall be informed with immediate effect of the satisfactory handling and successive withdrawal of the claims.The fund will be made available for immediate withdrawal upon confirmation of informing the third parties of the withdrawal of the claims.

2. This is the reply from the chief complaint officer (Adam Miller)
Dear Yasmeen,
As I mentioned and emphasized before, an extensive investigation was conducted
Following the complaint you’ve made. The investigation was based on the facts and
The evidence in your case, and the findings do not raise any problem in the way your
Account was managed.
Accordingly, and based on the facts UFX has no responsibility in any way for your losses.
However, UFX as an organization, strive to provide its clients with the most successful
And positive client experience. Thus, we cannot allow ourselves to overlook the fact that
You lost funds. Therefore, leniently, and from a client satisfaction propose only, and we
Assure you that we are highly committed to retain you as a satisfied customer, currently,
UFX is willing to consider to grant you $10,000 as a supporting bonus for trading. We consider
This amount to be the first building block in a recovery plan, and from our will as a company
To see you as one of our successful traders.
Awaiting your response,
Kind Regards,
Adam Miller Senior Complaint Officer
+44.208.1500778 Ext. 1675 +44.207.6811810 AdamM@ufxmarkets.com.
I have emailed back straight away what is the next step of the complain and haven’t heard from anyone.
HAMDI SHEHAB,
PICKERING, Canada,
May 5, 2016,
Guest

I'm going to start this review by saying that because of this company I have lost 110,000.00 USD in a period of one month. When you first start working with this company they show you that you're making profit, an unbelievable percentage, then the advisor asks you add more money. And because of the profits why not add more? But when you're account grows enough they start giving you bad advice and they stick to it in order for you to lose all your money. After checking my account and saw that I was losing all my money (capital and profits), I called the advisor and he advised me to leave the deal because the market was going to change and EUR/USD was going to go back up; after a long argument over the phone and via emails he stayed persistent and convinced me to leave the investment and that the market is definitely changing in the morning. After waking up the next morning I saw that not only did I lose all my money, but UFX also closed all of the trades I was involved in, no matter if they were losing or winning. They closed all my deals without me asking them to do so. Not to mention that when I first found out that my deals were losing money I contacted my advisor who didn't reply before I said in my last and tenth email that I was going to withdraw all my money. When he finally calls he says that he knows of all the losses and told me not to worry because he's monitoring the account and that its all going according to plan. The next morning I contacted customer support to report the advisor, they told me the person responsible of complaints was going to call, but instead the same misleading advisor calls, and tried to blame me for the losses. After a week of daily calls and emails he finally convinced me to invest again promising that he wouldn't make the same mistakes, make up my previously mooney, and that we'll take it easy this time to make sure that he doesn't lose my money again. I added a sum of 20,000 USD and made sure that the advisor knows that the money was from my family's savings and my kids' university tuition. I only added the money after a million promises, I made sure were sent by email for me to have proof of our conversation. But within two weeks he lost all the money and UFX did the same thing by closing my trades overnight and closing all the deals I've made without asking them to do so. The second time he lost the money, we went through the same process of me telling him about the initial losses and him insisting that this time wasn't going to be the same as last time because this time he's more sure about the market shifting to our benefit. And that he was monitoring the market and my account closely, and because of that I was convinced to leave the deals even though I was strongly against it. After the second time I lost all my money, I contacted customer support again, they told me that the complaints officer was going to contact me, but up until today, the fifth day after they closed the deals, no one other than my condescending advisor has contacted me in the hopes of getting me to invest again. After telling him off, I told him that I was going to sue him. His reply was “my company has a 100 lawyers backing me so do what you want”.
So please if you find yourself in business with UFX get out as fast as you can, and if you couldn’t withdraw your money as it’s a common issue with this company, stay away from QUSAI HIJAZI who made me lose 110,000.00 USD.
Ioana,
, Romania,
May 4, 2016,
Guest

I have had a real cool experience with UFX. I have traded with them for 4 months, used both their mobile and desktop app, enjoyed their crowd data and made some modest profits. When I asked to withdraw my profits, my account manager got disappointed and tried to persuade me to stay, but once I explained that I want to quit, the process went quickly.
Allan Ritchie,
Enmore, Australia,
Apr 18, 2016,
Guest

These people are very deternmined they just keep ringing over and over but in the end I believe they tricked me into giving them my account details they then took my money anyway they said its gone in ongoing fees they then bought gold and swiped the huge profit I made .I then lost half of even that in confusion after them swiping my profit, so I ve still got money there these people simply wont give me it back whats left look people shouldnt be into this anyway because even if you do do ok your encouraging something that makes someonelse far worse off what Im saying mis what if one gains the world but they lose their sole in doing it
Tooncastle,
, Canada,
Apr 6, 2016,
Guest

Ufx is the worst broker, they constantly call you and pressure you to make wreckless trades and deposit more money. I was fooled into opening huge trades that wrecked my account when I actually was making a good profit. Their account managers will traumitize you to no end. Stay far far away