UBCFX Review 2020
UBCFX is an offshore forex broker that offers over 120 financial instruments across different markets for trading online via the advanced MetaTrader 5 platforms for multple devices including desktop, web and mobile. They provide traders with a variety of useful trading tools and educational materials, but they are not regulated. Many experts and professional traders would not trade with an unregulated broker as they cannot offer investors the same protection that a regulated broker can.
UBCFX Review 2020, Pros & Cons
- A wide range of tradable assets
- MetaTrader 5 platforms
- Several useful trading tools
- A selection of educational resources
- Multiple account options & payment methods
- Offshore broker
- Not regulated
- No US clients
- Not the lowest spreads
In this detailed UBCFX review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
UBCFX is not ranked in our best forex brokers, best stockbrokers, best CFD brokers, best crypto brokers, or best online brokers categories. You can use our free broker comparison tool to compare online brokers including UBCFX.
UBCFX Review: Summary
Based in Saint Vincent and the Grenadines, UBCFX claims to offer a diverse range of financial services, including online trading, investment advisory services, portfolio management, credit facilities, banking services. and more.
They offer over 120 tradable instruments across forex, indices, equities, metals, energies, agricultural commodities, and cryptocurrencies for online trading via the advanced MT5 platform. The broker provides clients with several useful trading tools and a selection of educational resources. However, they are unregulated which is a red flag for the trading brokers review team.
UBCFX Review: Regulation
UBCFX is a brokerage brand owned and operated by United Ventures LTD, an offshore financial service firm with a corporate office at Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont Kingstown, VC0100, Saint Vincent and the Grenadines.
The broker is not regulated by any known financial authority in the world, and they do not seem to be interested in getting regulated any soon as they enumerated their reasons for choosing to remain unregulated, one of which is the freedom to offer any instrument at any leverage.
Their unregulated status is a red flag for experienced and professional traders because unregulated brokers do not offer the kind of security and confidence that the regulated brokers can offer.
UBCFX Review: Countries
The broker offers their services to traders from across the globe. However, they acknowledge that laws regarding financial contracts vary throughout the world and thus state that it is the responsibility of the traders to ensure proper compliance with any law, regulation, or guideline in their countries of residence regarding the use of the website and services.
To avoid any doubt, the ability to access their website does not necessarily mean that their services and/or your activities through the website are legal under the laws, regulations, or directives relevant to your country of residence.
Some UBCFX features and products mentioned within this UBCFX review may not be available to traders from specific countries due to legal restrictions.
If you are looking for a trading broker in a particular country, please see our best brokers USA, best brokers UK, best brokers Australia, best brokers South Africa, best brokers Canada or our best brokers for all other countries.
UBCFX Review: Trading Platforms
UBCFX provides their clients with the popular and highly advanced trading platform, the MetaTrader 5 platform. As an improvement on the MT4 platform, MT5 has superior charting, analytical, and order management tools. Despite its advanced features, the platform is easy to use and has an intuitive interface. So, it is very suitable for both new traders and professional traders who need advanced capabilities. Overall, the MT5 platform:
- Provides multiple charts, including tick chart
- Has multiple timeframes (21 timeframes)
- Offers real-time price quotes
- Supports multiple order types
- Allows both hedging (by request) and Netting
- Offers 38 technical indicators, 44 analytical objects, and scripts and expert advisors
- Provides market depth
- Supports one-click execution for market orders
- Allows the creation of custom indicator, scripts, and expert advisor using the MQL5 language
- Provides an economic calendar
- Delivers news feeds directly into the trading platform
The broker makes three versions of the MT5 platform available to their clients:
UBCFX MetaTrader 5 Web Terminal
The MetaTrader 5 Web Terminal provides direct online trading access to the global markets through any browser, on any computer running on Linux, Mac, or Windows, without the need to download and install any. It can be an ideal solution for traders who work from different computers. All transmitted data is securely encrypted.
UBCFX MetaTrader 5 Desktop Application
The MT5 desktop application can be downloaded from the broker’s website and installed on Mac, Linux, or Windows computers. The platform integrates a broad variety of assets and financial instruments. Its broad functionality allows for the implementation of multiple investment strategies at current market prices, supports pending orders with a present lifetime, and boasts compatibility with various analytical instruments, such as Elliot tools, Fibonacci and Gann.
UBCFX MetaTrader 5 Mobile App
There are MT5 mobile trading apps that are compatible with Android and iOS devices and can be downloaded from the relevant app stores. MT5 custom trading apps condense the core features of the desktop platform into a simple and user-friendly smartphone interface. Trade on the go with your iOS or Android device – access current price quotes and analyze data with customizable candlestick and line graphs with the tap of a finger.
UBCFX Review: Trading Tools
The broker provides clients with some useful trading tools, such as these:
- MT5 Copy Signals: UBCFX offers clients the opportunity to benefit from trading signals service that allows for automatic real-time copying of trading operations from one trading account to another. You can follow and copy hundreds of traders in the MQL5 community for free or for a reasonable fee, and there is a huge selection of signal providers to choose from. Interestingly, you can access MQL5 from within your UBCFX MT5 trading platform itself. There are no guarantees on the results of these signals and you should understand the risks involved before proceeding.
- Pips Calculator: UBCFX pips calculator will help you determine the value per pip in your base currency to determine the total amount of potential profit or loss and help manage risks.
- Market Reports: The broker releases market reports three times per day — each before the open of Tokyo, London, and New York sessions. These reports provide traders with a snapshot of the technical outlook of the markets before the opening of those major financial centers.
- Market Opportunities: Here, the broker displays potential trading opportunities that occur in different instruments.
- Best Trades: This section shows the best five trades of the previous week, which were some of the trades initially identified in the Market Opportunities section.
- Live Analysis: With this, you can follow price developments, live exchange rates of global currencies, online charts, quotes, and descriptions, and keep track of the latest market moves.
UBCFX Review: Education
UBCFX provides clients with a selection of educational resources to help them understand their trading platform and improve their trading knowledge and skills. Some of the resources provided include:
- MT5 Tutorials: They show you how to install and use the UBCFX MetaTrader 5.
- Video Tutorials: There are simple and comprehensive free video tutorials to jump-start you on the path to mastering the art of trading.
- Webinars: The broker organizes financial webinars from time to time, covering topics in a vast variety of issues, such as technical analysis, trading strategies, tools, and more. They also offer you access to the recordings of the previous webinars.
- Ebook: The broker has a section for ebooks, though, there is nothing there at the moment.
UBCFX Review: Trading Instruments
The broker offer trading in over 120 trading instruments, across forex, indices, commodities, metals, cryptocurrencies, and equities.
- Forex: Offers several major and minor forex currency pairs
- Indices: All the major equity indices across the world
- Agricultural commodities: Soft commodities like cotton, corn, sugar, coffee, and more
- Energies: WTI Crude Oil and Brent Crude Oil
- Metals: Silver and Gold
- Cryptocurrencies: Offers CFD trading on a lot of cryptocurrency pairs, such as BTCUSD, ETHUSD, LTCUSD, and XRPUSD
- Equities: Offers many US and European stocks
UBCFX Review: Trading Accounts & Fees
UBCFX offers different trading accounts to match various trading styles and levels of experience.
- Micro Account: $100 minimum deposit, up to 100:1 leverage, and 4 pip spread
- Mini Account: $500 minimum deposit, up to 200:1 leverage, and 2.5 pip spread
- Standard Account: $1,000 minimum deposit, up to 200:1 leverage, and 2 pip spread
- Silver Account: $5,000 minimum deposit, up to 200:1 leverage, and 1.5 pip spread
- Gold Account: $10,000 minimum deposit, up to 200:1 leverage, and 1 pip spread
- VIP Account: $50,000 minimum deposit and customized spread and leverage
All account types are swap free with no over-night fees, have a minimum trade volume of 0.10 lot, can be traded on all trading platforms, and have negative balance protection. There is full access to the trading academy and social trading. Demo accounts funded with virtual money are available for practice purposes.
As broker fees can vary and change, there may be additional fees that are not listed in this UBCFX review. It is imperative to ensure that you check and understand all of the latest information before you open a UBCFX broker account for online trading.
UBCFX Review: Customer Service
The broker has a responsive customer service team that is readily available to take care of traders’ queries. They can be reached via email, telephone, and Live Chat, and they are available 24/5. You can also reach them on Facebook, Twitter, Instagram, YouTube, and Google+ or use the “Send us a message” option on their website.
UBCFX Review: Deposit & Withdrawal
UBCFX accepts a wide range of secure online payment options for deposits and withdrawals, making funding easy, fast, and secure. The broker covers all fees for deposit, but transaction charges may apply for withdrawals. Transaction processing time depends on the method used. Here are the accepted payment options:
- Bank wire transfer: Can take up to 2-7 business days to process
- Credit/Debit cards: Visa, MasterCard, Maestro, and UBCFX VIP Card
- Online payment methods: Neteller, Skrill, DixiCard, Interac, Bpay, Sofort, WebMoney, QIWI, and iDEAL
- Cryptocurrency: The broker can accept Bitcoin payments
UBCFX Review: Account Opening
To open an account with this broker, simply click on any of the “Open Live Account” button that you see on the broker’s website, which will direct you to a place where you fill this form below:
After registration, you will be required to verify your account by uploading your proof of identity and address. Once the account is approved, you can fund it and start trading online.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.
UBCFX Review: Conclusion
UBCFX is an offshore trading broker that is based in Saint Vincent and the Grenadines. They offer over 120 tradable instruments for online trading via the advanced MT5 platform. The broker provides clients with several useful trading tools and a selection of educational resources. However, they are unregulated which is a red flag. Many professional traders and industry experts would not trade with an unregulated broker as they cannot offer the same protections that a regulated broker can. For alternative options, you may wish to view our best trading brokers.
Trading in forex and Contracts for Difference (CFDs) is highly speculative and involves significant risk of loss. Such trading is not suitable for all investors so you must ensure that you fully understand the risks before trading.