UForex, providing 100+ trading instruments across 5 markets [Forex, Stocks, Metals, Commodities, Indices] with a maximum leverage of 1:100, offers 3 account types [Standard, Professional, Premium] with a minimum deposit of $50.
UForex broker Company Information & Regulation
UForex, founded in 2013, is a subsidiary of Unicapital Investment Company OJSC, which is part of Unibank, a major financial institution in Azerbaijan.
The broker's headquarters are located at the Azure Business Center, 15 8 Noyabr Avenue, Khatai District, Baku, AZ1025, Azerbaijan.
Based on the currently available data, the brokerage does not appear to be regulated by any financial authorities.
UForex Important Specifics
To give you a quick overview of what this Forex broker offers, here's a summary table of its details:
Broker | UForex |
Account Types | Standard, Professional, Premium, Demo |
Regulating Authority | N/A |
Based Currencies | USD |
Minimum Deposit | $50 |
Deposit Methods | Bank Transfers |
Withdrawal Methods | Bank Transfers |
Minimum Order | 0.01 |
Maximum Leverage | 1:100 |
Investment Options | Copy Trading via MT4 |
Trading Platforms & Apps | MetaTrader 4 |
Markets | Forex, Stocks, Metals, Commodities, Indices |
Spread | Varies (Discounted Spreads on Premium Accounts) |
Commission | None |
Orders Execution | Market |
Margin Call / Stop Out | N/A |
Trading Features | Training Programs, Seminars, UBlog |
Affiliate Program | None |
Bonus & Promotions | None |
Islamic Account | None |
PAMM Account | None |
Customer Support Ways | Email, Ticket, Phone, Live Chat |
Customer Support Hours | 24/5 |
Account Types Specifics and Comparison
UForex offers 3 main account types for traders, which mainly differ in terms of spreads; however, the brokerage does not go into detail regarding the exact numbers:
Account Type | Standard | Professional | Premium |
Min. Deposit | $50 | $10,000 | $30,000 |
Discounted Spreads | No | Yes | |
24/5 Technical Support | None | Available |
Other benefits such as commission free trading or unlimited income and expenses are provided across all account types. Also, Smart Stop Out and special training programs are available.
Benefits and Drawbacks
The following is a table consisting of main advantages and disadvantages in working with UForex:
Benefits | Drawbacks |
Low Minimum Deposit of $50 for Standard Account | Not Regulated by Any Authorities |
Leverage up to 1:100 | 24/5 Support Only Available for Premium Accounts |
Backed by a Major Azerbaijani Bank | - |
Access to MetaTrader 4 Platform | - |
UForex Broker Account Registration and Verification
The first phase of signing up with this brokerage is simple:
- Visit the UForex website and click on "Apply" on the home page;
- In the displayed form, enter your name, emailaddress, and phone number.
The second phase starts after the company's agents contact you. It includes signing papers and providing additional details.
Trading Platforms
UForex provides the industry-standard MetaTrader 4 (MT4) platform for its clients. MT4 is known for its user-friendly interface, helpful trading tools, and extensive customization options. It does not need much introduction as nearly all traders are familiar with it.
Download Links:
UForex Spreads and Commissions
According to the official website, this broker offers a discounted spread on Premium accounts. Standard Spreads on Some Major Currency Pairs:
Symbol | Spread |
EURUSD | 14 |
GBPUSD | 20 |
AUDUSD | 20 |
NZDUSD | 25 |
There are no trading commissions, deposit/withdrawal costs, or inactivity fees.
Funding and Withdrawal Options
Based on our extensive investigations on various sources, this broker does not accept/process withdrawals and deposits in any methods other than bank transfers.
Copy Trading & Investment Options on UForex
This broker does not offer native copy/social trading or passive earning features. However, traders can use the copy trading solution available via the MetaTrader 4 platform, which provides signals.
UForex Trading Instruments
This company provides access to over 100 tradable instruments across 5 asset categories:
- Forex
- Stocks
- Commodities
- Metals
- Indices
Any Bonuses and Promotions?
As of our latest research, at the time of writing, UForex does not offer any bonuses or promotions. This should not be considered a real drawback since it’s not part of a brokerage’s essential products.
UForex Broker Support Methods and Working Hours
This broker provides customer support through various channels:
- Email: uforex@unicapital.az
- Phone: +994 10 271 01 17
- Live Chat: Available on WhatsApp and Facebook Messenger
- Ticket System: Through the website
Support is available 24/5 for Premium accounts. The company’s business schedule is Monday to Friday, 9:00 to 18:00.
Restricted Countries and Regions
UForex primarily serves the Azerbaijani market and may have restrictions for traders from other countries. Unfortunately, a comprehensive list of restricted countries is not readily available on their website.
UForex Trust Scores & Reviews
The broker does not have many review profiles and user ratings on reputable resources across the internet; only a UForex page on ScamAdviser is available with a 97/100 Trustscore.
Education Content and Resources
In total, UForex provides 2 sections dedicated to educational resources for traders, including:
- Training programs and seminars for traders of different levels, provided by Azer Balamedov and Sabina Bagirova
- UBlog containing articles focused on financial concepts and trading strategies
Conclusion and Final Words
UForex allows users to contact its support department through 4 channels [email, phone call, live chat, ticket] on a 24/5 schedule for Premium accounts.
The broker's ScamAdviser profile indicates a 97/100 Trustscore.