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

Updated: Oct 16, 2018
SCAM
1.43 · 136 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!
1.43 · 136 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!

Ousama Makar,
Egypt,
Jan 21, 2010,
Guest

As NFA reply . UFX Bank is not a member of NFA ,, some one from UFX Bank sent an e-mail to tell me a fake that it is a member of NFA
l can brove it
Jaime,
Philippines,
Feb 16, 2010,
Guest

This company refuses to process my profit withdrawal requested last December 2009.

That is plain and simple: SCAM.

Stay Away from this company!


Vincent Edward ,
UK,
Feb 16, 2010,
Guest

I have traded with all the bug companies.
It is hard to fnd a good online FX broker.
Found UFXBank a few months ago and traded for the last 6 months without any problem. this is the first time i have traded with a company that is very professional and i happy with.
I read some of the bad reviews here in the site and was surprised...
It is probebly us traders that failed to make profits and are angry with the broker - i have been there - i know how bad it feels but i have to remind us all that it is not the broker's fault most of the time.

Anyway, i do recommend UFXBank - found them very trust worthy and they are pros for a change.
Linda Peirce (USA),
Something good,
Feb 17, 2010,
Guest

Hello, My name is Linda. i am trading using UFXBank. i was shoked from what i read here. Let me say what i think.
I am trading in UFX. My trading with this broker is excellent. i am starting to think that some of the comments here are impertial because i am trading with UFX a long time with no hint of a problem. i have done more then 20 withdrawals from my account. every withdrawal was done on time and accuratly.

I hope you will publish my comment because it is important. if not, there might be a reason for that. i hope that this forum will stay impartial as it was until now. i was looking at PFA for a long time but never published anything but this time i thought it is important to say my word.
I would also be happy to have comments to my post. Thanks
Fatai,
UK,
Feb 24, 2010,
Guest

I would like to point out that the risk manager of UFXBANK's name is Vincent...I would not be surprise if LINDA and VINCENT claiming to be happy client of UFXBANK are both staffs of UFXBANK.
If you are not fake customer,ask your so call good broker why they have refused to remit my profit of over $11,000...my ufxbank username is gbenga..what do u call a broker that refuses to remit profit of over $11k???
Also note there have been several cases of UFXBANK staffs commenting on this review claiming to be happy clients.
Then both Mr Micheal and Thomas apologise but disappeared into thin air when other unhappy clients ask both simple question why they have refuse to remit profit.

UFXBANK PLEASE KINDLY REMIT MY PROFIT OF $11,717..ITZ BEEN OVER 2MONTHS NOW.

2010-01-15 No rating Eliisa lindroos: Am in total support of your point,this broker(UFXBANK) has refused to pay both my deposit and over 700% profit made.
I am so frustrated now and will go any length to recover my money from them..Pls new trader beware of UFXBANK

2010-01-12 1 Star I funded my ufxbank acct in November 2009 and I was given 50% deposit bonus as their offer with condition of trading minimum 5,000,000 USD volume.
As at 23/12/2009 I have traded 18,939.557 USD volume(nearly 4 times the required volume).I applied to withdraw my money and my profit but it was refused and they were claiming I have traded up-to the required Volume.I contested this,which the Ufxbank risk manager(Mr Vincent) admittedly and reply saying they can not process the withdrawal until after new year holiday because of the festive activities.He(Mr Vincent) also apologise and promise to even credit my account equity with 10% of the equity.I told him that the 10% or offer is not important because i need my Money urgent.
On 4/01/2010 I made a withdrawal request and I sent a copy to their finance dept,my ufxbank acct mananger(Ms Amy Walsh) but no respond whatsoever and I did not recieve my fund either.I followed it up with a reminder email on 7/01/2010,no reponse too as well.I have call them several times only for them to either tell me I should contact the finance dept,the finance will direct me to acct manager and that one will direct me to risk dept, or they will give excuse that the finance dept has closed or the acct manager is in a meeting.
I have all my transaction records and conversation records with this broker and its staffs. I also sent a message to Mr Thomas of Ufxbank on this tread but he did not reply to message either. My questions are do this broker actually exist?? How to charge possibly ghost staffs?? A company with forward mail address?? Also please is it possible to get actual adress of this company from the ''LONDON REGISTERED OFFICE ADDRESS''??
I would not hesitate to contact FSA,NFA,
metropolitan police and National Fraud Authority.
I want other traders/investors to learn from my mistake and do extensive research before opening account with any broker.Please i welcome all suggestion on how I could redeem my fund...cheers
Andrew,
New Zealand,
May 21, 2010,
Guest

Not happy.

I submitted a withdrawal of deposit and profits over two weeks ago, i have only been met with delays and excuses in regard to remittance of funds back into my credit card.

The latest delay is reasoned in that it takes time for both banks to accept the transaction of funds back into a credit card account.
My research has shown otherwise, that in fact it is about as instant as debiting a credit card account.

Communication level has been better than the description of what others have described in this forum thread.

If this performance issue eventuates in non-payment, it may be the final straw that kicks this over into the scam category.

If so, i would very much appreciate the help of FPA in the return of my deposit. I'd say i can surely kiss my profits goodbye if they have no intention of processing my withdrawal.

UFXBANK: Process the withdrawal immediately.

[Note: I have proof to verify my own claims of the amount and dates of the deposit, all trades and the withdrawal as well as emails.]
demos nicolaides,
CYPRUS,
Jun 23, 2010,
Guest

For a month now they are making excuses not to perform my withdrawls of US$7K including deposit amounts.

PLEASE BE AWARE - THIS COMPANY IS A SCUM

I have all the evidence to prove it eg extracts of my positions closed and bank statements and email correspondence.

Sabby,
India,
Jul 31, 2010,
Guest

After reading, so many reviews, i like to share my opinion as well. I am a forex trader from last 1 1/2 year and tested many forex brokers at my initial period. Now i am settled with UFX bank as they are quite transparent in their policies and has an easy trading platform. UFX Bank does not charge any commission or fees on deposits or withdrawals. Like many Forex brokers, UFX Bank makes money on the spread, meaning that they make their money on the difference between the buy and sell prices.

Altogether, i would recommend this broker.
Fatai,
UK,
Aug 10, 2010,
Guest

UPDATE: 2010-09-15 My money has been remitted with the aid of Bill,FPA.

The FPA is happy to report that this issue has been resolved.



Itz been over 7 months now ,UFXBank has not still remitted my profit of over $11,000 but instead offer me $1,500(less than 13% of my money)...Most of those claiming to be happy clients are Ufxbank staffs pretending to be customer..Typical example of fraud.

UFXBANK remit my $11,717 money. my ufxbank username is gbenga.

WARNING: PLS STAY AWAY FROM UFXBANK.

More. Community discussion of this issue >>

Aymeric,
France,
Sep 20, 2010,
Guest

I'm also an old school trader and I'm used to trade with Metatrader.
I tried this broker with a minimum deposit in order to test its platform. This web platform bored me and I never found a way to work efficiently (4 digits, not lot based, indicator difficult to find, web platform very browser dependent which means you can't surf or you risk to bug your window....).
I also suspect them to be in relation with an other scam "company": trader forex which proposed me a stage during 2 months (which never started) at the condition that I open an account on that specific broker.
At the end of my experience, I never traded with them (how can I place an order when I can't even see a complete graph!) and tried to withdraw my deposit. They kept 20% of that deposit as a commission (while my account has never been active).

I really don't recommand that broker. Advice: Keep using serious well known brokers