Although it’s known that foreign exchange trading is growing on a daily basis, it’s also a fact that scam brokers sometimes also appear. Sometimes can be very easy to tell if a broker is a fraud, but in some cases it can be a sort of a challenge. One of those brokers that seem legit, but definitely aren’t, is UFX. In our UFX Scam Warning we’ll write what we’ve discovered about them. Keep reading and get informed!
UFX Scam Warning | Bad Trading Environment
When you’re looking for a broker you would like to trade with, there are a few things you have to keep in mind. One of the most important tasks of every broker is to provide its clients with best trading surrounding possible. It basically means that brokers, in order to enable you to trade easily, tend to develop a trading platform that is both functional and well designed. In foreign exchange trading every moment can be crucial, so the platform also has to be quick in processing your orders.
After reading a lot of complaints other traders had about the UFX’s trading platform, we decided to test it on our own. It turned out that the situation really is terrible as everybody was saying. First of all, it’s definitely not intuitive: it’s quite messy and it’s very hard to find all of the important things (tools, for example) you need in order to trade. Besides that, their trading platform has serious troubles with speed, which can be really annoying in trading. Having in mind that sometimes you have to react very quickly, it can even affect your trading result, and you definitely do not want that to happen.
In the next paragraph of our UFX Scam Warning we’ll be talking about experiences traders had with the broker’s managers. Keep reading!
UFX Scam Warning | Troubles with Managers
Brokers’ managers’ job should be helping their clients in trading. They usually advise you about what to do, how to invest, what currency pair to choose and so on. Unfortunately, it seems that UFX’s managers don’t do their job. Many of their ex-traders have complained about being misguided by them. Unfortunately, this is what scammers do – they pose as reliable trading partners until you deposit your money, then they just stop talking to you.
This is exactly what happened to many traders. After depositing their money, they simply couldn’t reach anyone to talk to. Either they just got passed around from manager to manager, or there was no communication at all. Naturally, with communication being this bad, withdrawing money also became a problem. This is typical scam behavior, so we can only conclude that UFX is a fraud. Stay away!
UFX Scam Warning | Conclusion
There’s not much left to say in the conclusion of our UFX Scam Warning, but we’ll highlight once again all of the important things. First of all, they have a trading platform that you simply cannot rely on. Besides being pretty lousy designed, it has some speed issues. Another problem with UFX is the quality of their managers who often mislead their clients in trading. All in all, you should take our UFX Scam Warning seriously and open an account with some other broker. There are plenty of reliable partners on our website.