UFX.com Review

1.357 · 154 REVIEWS



Reliantco Investments Ltd

Updated: Jun 11, 2020 · Visit site  · Is this your company?

UFX is a forex broker. UFX offers the Mobile and MT5 trading currency top platforms. UFX.com offers over 45 forex currency pairs, stocks, gold, silver, oil and bitcoin for your personal investment and trading options.



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.


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

 Need more info?
Read and Ask HERE.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 400:1
Minimum to Open Live: $100
Established: 2007
Address: T19, 1st Floor, Tana Russet Plaza, Kumul Highway, Port Vila, EH2 1JE, Vanuatu
Contact: +44 208-150-0778
Regional offices:
Regulators: CySEC #127/10, VFSC #14581
Prohibited countries: Unknown
Trading platforms: MT5, Trading Central, UFX Mobile App
Web Trading: Yes
Mobile Trading: Yes
Currencies: (45+)
Cryptocurrencies: (1) Bitcoin
CFD: (460+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
Deposit Methods: VISA, MasterCard, CASHU, Diners Club, ELV (Elektronisches Lastschriftverfahren), Giropay, iDEAL, Local Bank Transfers, Maestro, Neosurf, Neteller, PaySafe Card, Poli, Qiwi, Skrill, SOFORT, UnionPay, WebMoney
Withdrawal Methods: Bank Wire, VISA, MasterCard, CASHU, Diners Club, ELV (Elektronisches Lastschriftverfahren), Giropay, iDEAL, Local Bank Transfers, Maestro, Neosurf, Neteller, PaySafe Card, Poli, Skrill, SOFORT, UnionPay, WebMoney

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1.357 · 154 REVIEWS
Forex Peace Army

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

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Traders Reviews

Uae, United Arab Emirates,
Mar 19, 2020,
Registered user

Very bad they kerp following you and steel your money

Service use: Live

Length of use: 0-3 Months

Ufx is scam, please aware from
Nasib Naser, jad they are liers

Account Manager
+44.208.1500778 Ext: 1351

https://sa-fx.com i filed a case against them
Venezia, Italy,
Feb 28, 2020,
Registered user

UFX - Truffa - Scam

Service use: Live

Length of use: over 1 Year

confermo che sono dei truffatori, Anna Mancini è una truffatrice non investite assolutamente con questi rifiuti

I confirm that they are scammers. Anna Mancini is a scammer, do not invest in this garbage compant at all
Northallerton, United Kingdom,
Feb 6, 2020,
Registered user

UFX.com I have lost my savings & the profits from trading SCAM

Service use: Live

Length of use: 0-3 Months

After responding to an advert on Facebook I was then contacted by Mr Michael Fox from UFX.com I wanted to set up a automatic system with a minimum deposit.
But he advised it was better to have a live platform to trade from, and he was quite happy to open an account with a minimum deposit of $400 USD.
So the account was set up,they traded in USD and they would convert my GBP deposit, and any withdrawals would be in GBP back to my Bank.
We started trading on 25/10/2019 and immediately started making money albeit only $3 or $4 per trade then he insisted that I deposit $5000 USD we could then start to make better profits.
On 05/11/2019 I deposited this money then profits moved up from $3 to $100 per trade this carried on & every trade was a winner,one day $500 another day $1003 .
Then on 11/11/2019 he suggested that I add $10,000 so as I could take bigger profits.
This I did and was working well so he suggested that I move more of my savings to their Bank because interest rates were poor in the UK.
Mr Fox would ring me nearly every morning and sometimes several times during the day.
On 21/11/2019 the equivalent of $30,000 was transferred from my Bank he assured me it would give me more equity to work with then again on 27/11/2019 another $25,000 was transferred the aim was to reach the magical figure of $100,000 of equity then I would become a professional trader.
I was getting there but early December 2 trades had gone the wrong way but I was not immediately worried because the expiration date was 18/12/2019 but they were using up some of my equity and this date was looming he said not to worry he could extend the expiration date,this he did onto 31/03/2020 that reassuring me that all is well but I needed to make another deposit on 20/12/2020 to get me to the magical figure of $100,000.
Everything was going nicely until on the 24/01/2020 Michael Fox rang me and apologised for not being able to ring because of being ill, so to make amends he suggested making a larger trade to make amends and take a bigger profit he said to buy 100,000 barrels of crude oil to take $1000 USD profit I was not comfortable doing this but I went along with the trade because the price was very low,he did comment that the price may go down slightly before climbing to take the profit.
But the price continued to fall and because it was a large trade it was using up all my equity Mr Fox rang again insisting that I have to deposit $10,000 USD to keep my trades safe this was taken from my card and I was worried as I had to go out with my family.
I then get another call from Mr Fox saying the price had dropped again & I needed to deposit another $10,000 but this time they could not take it from my card & needed to make a wire transfer but as I wasn't near my Bank I couldn't make this payment my equity was all used used up & my account was emptied.
$146,878.20 STOLEN
  2 traders have found this review helpful
London, United Kingdom,
Jan 28, 2020,
Registered user

Terrible experience

Service use: Live

Length of use: 0-3 Months

They lost my money usd 40,000.00 in 2 months with their tips and the money goes to them as a profit. You should go court theystarted to scare and offering you. Be careful don’t use this company. They speak withy you like a family and then started to take all your money etc.
  3 traders have found this review helpful
Warrington, United Kingdom,
Nov 29, 2019,
Registered user

Scam. Lies. Unethical. Terrible

Service use: Live

Length of use: 3-6 Months

£98,000.00 ‘invested’ and lost through oil and gold trades.
No surprises as the modus operandi was the same as most of the other 149 reviews under the UFX Markets reviews section of this site.

If you would like to join a funded Class Action against Reliantco Investments Ltd please contact me in the forums.
  4 traders have found this review helpful
Hampshire, United Kingdom,
Oct 24, 2019,
Registered user

Not to be touched with a barge pole

Service use: Live

Length of use: Have not used

UFX is good at extracting money from you, good at making you think you're winning trades on CFD's, good at building your confidence and trust and encouraging/persuading you to invest larger sums with them, good at getting you into hedging and... just when you're in way over your head comes the coup de grace - that huge loss suffered from an "unprecedented shift" in the gold or oil market and for the life of me on examination post UFX I couldn't find any such unprecedented shift. The advice of UFX at that time was to trade out of it and invest more money - simples. That pattern is seen time and time again in the numerous complaints littered over the internet. And if you are in credit and want to withdraw your funds at any time, the chances are that you won't be able to. Be wise, stay away from UFX.
  3 traders have found this review helpful
Farawaniya city Kuwait, Kuwait,
Oct 1, 2019,
Registered user

I have been scammed by UFX broker company under reliantco investment Ltd

Service use: Live

Length of use: 0-3 Months

The story started at21 aug 2019. I saw this ad on Facebook,I signed in just to see what it was all about but then did nothing further.then,so many calls from Jad Jabreen,UFX employee who convinced me to open an account on UFX.then Ghinwa Kasem another employee in UFX called and told me not to worry about losing my money in UFX and I told her I know nothing on forex but she told me they will assist me and will assign an account manager named Amir Hassan and he will do everything instead of you to win money.They swore that deals will be done at very low risk.they did not train me at all and did offer to train me .they made me to deposit an initial $6600 USD and Amir did for me some deals which showed profits just to trust them and he did an initial withdrawals for $25 usd to trust them more.but when I tried to withdraw my money because I read that UFX is a scam they refused and did many call to convince me that this is not true and a senior Employee named Fakher Barakat called me and swore that this is not true and that their competitors are doing this rumors.he convinced me to transfer $60000 to them through the Caj Capital account in commercial bank of Dubai and for 3 days he did a profit of 10 thousand USD $ by doing many deals in one day.then he did a very big and bad deals on oil and NZD/FCH although I told him that it is risky and he assured me and said,don’t worry we are safe.then suddenly my account showed profit loss and he put my account into Hedge . I didn’t even know what that even meant and asked him and he told me that next week you will make $60000usd and just we need to find right exit points blar blast blaa . Now they will stole my money and will need more money .
They now insist on new deposit to steal more money.
They intended to do this hedge to threaten me if I didn’t deposit new money,my account will collapse.
  2 traders have found this review helpful
Madrid, Spain,
Oct 1, 2019,
Registered user

NIce broker

Service use: Live

Length of use: over 1 Year

After investing in various platforms for 10 years, I consider that ufx is one of the great players in the market both technically and functionally.

It is one of the few brokers that i can trade with a 1: 400 leverage . I value very positively the own technologies that this broker has as massinsight that offers live information on the current market situation.

They have the Metatrader 5 platform and an agreement with Trading Central through which you can receive signals and technical analysis from diferent markets.
  3 traders have found this review helpful
London, United Kingdom,
Aug 21, 2019,
Registered user

UFX.com paragon

Service use: Other

Length of use: 3-6 Months

DO NOT TRADE WITH UFX.com. Too many people have lost everything to this company. You trade with UFX and 93% of profits go to Paragon X, their trading platform. 2018 profits were approx 60 Million dollars. Your lost money! All looks good in the beginning when you begin to trade. It is nothing but a boiler room in Cyprus because their listed address does not exist (googlemaps) with fake named trading specialists who continually barrage you daily to add more and more funds to your account. Their Paragon X platform goes down so you can't access it a lot. I am convinced they manipulate it so investors fail. (I've spoken with many other people who also lost all their money and they feel the same but of course I can not confirm this as fact). Do your homework on this company. Both Directors have been charged on tax evasion. Look at the SEC case in USA. Paragon x linked to UFX in the UK (Their trading platform) lists a Director 'Name withheld' who has approx 30 insolvent companies behind him!!!
Look at Youtube videos https://www.youtube.com/watch?v=yJ9QjSsiM28. Checkout peacearmy about fraudulent companies. You'll find UFX there! Their Trust Pilot reviews are shocking (bad) and UFX and been able to have many reviews removed. Its been stated the good reviews, some are fake! They had Mike Tindall (A royal, married to Princess Anne's daughter Zara Phillips- He is also an England Rugby player) gracing their website in 2018 but he is now off their website. BEWARE. I strongly suggest to stay clear.

Jul 26, 2019 - No Rating Watch this Youtube Video for a July 2019 update on UFX.com https://www.youtube.com/watch?v=yJ9QjSsiM28 (UFX.com review#1 by Steve Gill).

BBC is airing a program on how they scam us. This will air in Aug 2019.

A class action suit will follow headed by international Lawyer Gabriele Giambrone in the Royal Courts of Justice in London. Contact if you wish to join.

I was scamed by UFX. I will get my money back. Get yours back too.
  2 traders have found this review helpful
London, United Kingdom,
Jul 30, 2019,
Registered user


Service use: Live

THEY ARE LIAR, THEY SCAMMERS THEY ARE THIEVES as I can not describe them any better

I have been scammed by Reliantco Investments Ltd, they are also called UFX

I was contacted by brokers Mr Izzet Kamer, Mr Levent Demir and Arda Polat who encouraged me to open an account with UFX. The brokers contacted me by telephone and email and encouraged me to invest in various financial trading namely gold, petrol and stock exchange. I was assured by brokers that as long as I do what the brokers ask me to do I shall win and that there will be no losses. The brokers reassured that I will make no loss and a win was guaranteed. In reliance on this representation, I entered into a contract with broker. The representation was an express term of the contract. In fact the representation was false and broker was in breach of the contract in that none of the investments made a return.

As a result of the misrepresentation, I have suffered loss and damage. In the circumstances, and they are liable to me for damages for misrepresentation and breach of contract.

I did not have any knowledge or experience in investments and I did outline this to brokers. The brokers encouraged me to open a professional account and told me to not to worry and to rely on their advice. (you had to have two or a year and half years professional experience and €500000.00 in your account in order to trade professionally in European countries as this is the regulation in European Commission)They opened a professional account in their platform without my consent in order to take more and quickly money from me. Again this is illegal. They also confirmed that they will help and provide all the answers to complete the account and that they will complete the account on my behalf. The brokers have clearly been in breach of their role and provided incorrect and false information in order to complete the professional account.

I can inform you that all the telephone conversations were recorded. As these recordings are crucial evidence in this matter proving that financial advice was given by brokers to me. You give them notice that all the telephone recordings should be preserved as evidence. It is clear from the emails I received from brokers and the telephone conversations that brokers have introduced themselves as a authorised person to give financial advice. I was initially encouraged to make small investments. The brokers first made it look like that I was winning and making money. All the money I won was held in the account brokers opened. Further investment advice was given to me by brokers and I was pushed to make big investments which resulted in losses which was never mentioned by any of brokers.

I realised that they are regulated in another European Economic area (EEA) country and as you are aware in order to regulate certain financial activities the brokers should have been
authorised to carry out the said regulated financial activities. Please confirm with them whether their brokers were authorised to give financial investment advice to amateur investors such as me. As a result of the wrongful advice brokers gave, I suffered a loss totalling in the sum of £48,000.00 In sterling pound. I request full refund of This sum.
I reported them Ombudsman, CySec in Cyprus and found a lawyer ready to take them
To court in Cyprus. As well as I reported them
FSA financial services authority and Police here in London. Police in London said will contact police in Limassol

I’ll also be going to Cyprus next week myself
  4 traders have found this review helpful