UniqueFX Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-10-23 16:03

Abstract：Registered in 2023, UniqueFX is an unregulated brokerage company based in the UK. It claims to offer Forex, Stocks, Indices, Commodities, and Cryptocurrencies via a web-based platform.

　　Note: UniqueFX's official website: https://www.uniquefx.co/ is currently inaccessible normally.

UniqueFX Review Summary
Founded	/
Registered Country/Region	United Kingdom
Regulation	No Regulation
Market Instruments	Forex, Stocks, Indices, Commodities, Cryptocurrencies
Demo Account	❌
Leverage	Up to 1:200
Spread	From 1.8 points (Classic account)
Trading Platforms	Web-based platform
Minimum Deposit	$520
Customer Support	Contact form
	Email: support@uniquefx.co
	Address: Building 1st Floor, Stewardship, 12 Steward St, London E1 6FQ, Regno Unito

　　UniqueFX is an unregulated brokerage company based in the UK. It claims to offer Forex, Stocks, Indices, Commodities, and Cryptocurrencies via a web-based platform.

Pros and Cons

Pros	Cons
/	Non-functional website
	Lack of transparency
	No regulation
	No demo accounts

Is UniqueFX Legit?

　　At present, UniqueFX lacks valid regulation. Its domain was registered on Nov 16, 2023, and the current status is “client Transfer Prohibited”. We advise you to look for another regulated one.

What Can I Trade on UniqueFX?

　　UniqueFX claims to offer Forex, Commodities, Stocks, Indices, and Cryptocurrencies.

Tradable Instruments	Supported
Forex	✔
CFDs	❌
Commodities	✔
Indices	✔
Cryptocurrencies	✔
Stocks	✔
ETFs	❌
Bonds	❌
Mutual Funds	❌

Account Type

　　UniqueFX provides a Classic and an ECN account. The minimum deposit requirement of them is $250.

Leverage

　　The maximum leverage is 1:200. Note that high leverage can amplify both profits and losses.

UniqueFX Fees

　　UniqueFX offers different spreads for its ECN and Classic accounts. For ECN accounts, the spread starts from 0.0 points, while for Classic accounts, the spread starts from 1.8 points.

　　In addition to spreads, UniqueFX charges commissions on trades executed on ECN accounts. For ECN account holders, there is a commission of $5 per lot traded. In contrast, there are no commissions charged for trades executed on Classic accounts. The absence of commissions in Classic accounts is often offset by slightly wider spreads.

Trading Platform

　　UniqueFX only provides a web-based platform.

Deposit and Withdrawal

　　The initial deposit requirement varies depending on the chosen account type, however, it must be at least 250 GBP/USD/EUR/BTC to begin trading. All of the main credit cards (Visa, MasterCard, and Maestro), wire transfers, and Bitcoin (BTC) straight payment methods are accepted by UniqueFX as deposit methods. Requests for withdrawals are typically handled in 5 to 10 business days. Please take notice that only accounts that have successfully completed the verification process will be eligible for withdrawals.