Forex Forex Brokers

UBCFX Review

UBCFX is a global online forex broker who claims to offer some of the tightest spreads in the market and offer innovative and user-friendly trading platforms. We take a little look at what UBCFX really offers so you can make an informed decision on whether they are the right broker for you.

Account Types

There are 6 accounts on offer from UBCFF, each with their own requirements and benefits, we will take a little look at them in some more details.


All of the accounts with UBCFX come to wit the following benefits: Swap-free accounts, MetaTrader 5 (MT5) as a trading platform, negative balance protection to ensure you don’t lose more than you deposited, full access to the trading academy, social trading where you can follow other peoples trades and a minimum trade order size of 0.1 lot which is a lot higher than the expected 0.01 lot (micro lot).

Micro Account: This account requires a minimum deposit of $100, it has leverage up to 1:100 and has a spread markup of 4 pips. This account does not have access to signals, a personal assistant or more concerningly, support.

Mini Account: The mini account requires a minimum deposit of $500+, it has increased leverage up to 1:200 and the spread markup has reduced down to 2.5 pips. This account does not have access to signals but has 1-on-1 guidance with a personal assistant and live support 24/5.

Standard Account: The minimum deposit increases further to $1,000+, leverage remains at 1:200 and the spread markup further reduces down to 2 pips. You get 1 month of premium signals and trading analysis from your personal assistant. Live support remains available on a 24/5 basis.

Silver Account: The silver account requires a minimum deposit of $5,000+ and keeps the same leverage at 1:200. Spread markup continues to reduce, down to 1.5 pips and you now get 3 months of premium signals. The get an account manager and support remains as 24/5 but you now have access to support via WhatsApp.

Gold Account: $10,000 is the minimum that you will need to open this account, leverage remains at 1:200 and the spread markup sits at just 1 pip. You get a lifetime subscription to premium signals and gain a senior account manager. Support now includes the weekends and is 24/7.

VIP Account: The VIP account requires a deposit of $50,000+ and the features and benefits will be customized to your requirements, you need to get in touch with UBCFX in order to open a VIP account.


UBCFX only offers MetaTrader 5 (MT) as their singular trading platform. MetaTrader 5 is as good of a trading platform that you could hope for, building on the success of its predecessor MetaTrader 4, MT5 brings similar levels of customization and the ability to work with hundreds and thousands of indicators, expert advisers and signals. Accessibility is a major benefit with MT5 as well, as it can be accessed as a desktop download, an app for iOS and Android devices or as a WebTrader where you access it from within your internet browser.


Leverage is dependant on your account, if you go for the micro account then your maximum leverage will be 1:100, any other account and you have a maximum leverage of 1:200.

Trade Sizes

The minimum trade size for all accounts is 0.10 lots, this is higher than most brokers who allow you to trade in micro-lots (0.01). We could not locate the information in regards to the maximum lot size, these are normally between 50 lots and 100 lots but we can not say for use with UBCFX.

Trading Costs

UBCFX uses a spread based payment scheme, this means that they add additional spreads on top of the natural spreads. Depending on the account you use, these amounts are different, we have outlined them below.

Micro Account: 4 pips
Mini account: 2.5 pips
Standard Account: 2 pips
Silver Account: 1.5 pips
Gold Account 1 pip

Please bear in mind that these are not what the spreads are, these are added on top of the normal spreads, so you could be finding some spreads being 5+ pips. Also, note that some currency pairs naturally have higher spreads than other pairs.


UBCFX offers a number of different instruments to trade, these include forex currency pairs, indices, commodities, metals, cryptocurrencies, and equities. The full break down of each category can be found on the site, we are happy to see cryptocurrencies making an appearance as these are quickly becoming a major trading asset for new and experienced traders, there are currently 4 cryptocurrencies available so it would be nice to see these expanded in the future.


The following list indicated what the additional spreads added to each pair are, spreads are often seen much higher.

Micro Account: 4 pips
Mini account: 2.5 pips
Standard Account: 2 pips
Silver Account: 1.5 pips
Gold Account 1 pip

Please bear in mind that these are not what the spreads are, these are added on top of the normal spreads, so you could be finding some spreads being 5+ pips. Also, note that some currency pairs naturally have higher spreads than other pairs.

Minimum Deposit

The minimum deposit on UBCFX is $100, which is the same amount needed to open up a micro account.

Deposit Methods & Costs

There are a few different ways to deposit with UBCFX, the good news is that with all of them, the fees have been covered by UBCFX. There are a few different variations that we will note below.

For credit/debit cards both Visa and Mastercard, the minimum deposit is $100.

For e-wallets, including Neteller, Skrill, DixiCard, Interac, and Bpay, the minimum deposit is $500. Neteller and Skrill can use USD or EUR, DixiCard is just USD, Interac is CAD and Bpay in AUD.

For bank transfers, the minimum deposit is $100 and can take between 2 – 7 business days to be processed for deposit.

Bitcoin is also available but minimum amounts are not stated, so we would assume that they are also at $100.

Withdrawal Methods & Costs

The same methods are available to withdraw as they are to deposit, once again fees are paid by UBCFX and so there are none added to the withdrawals. Please note that your bank may charge a fee of their own, be sure to contact them if you are unsure if a fee will be charged or not.

Withdrawal Processing & Wait Time

We could not see the information in regards to processing times so we can not give completely accurate information. We can go by the average which is normally processed within 24 to 48 hours, e-wallets will arrive immediately after processing. A card will take around 1 – 5 business days and bank transfers will take 2 – 7 business days after processing.

Bonuses & Promotions

There was not any information prominent on the website in regards to any promotions or bonuses so we are assuming there aren’t any at this point in time. This does not mean that there never will so be sure to keep checking back just in case something pops up.

Educational & Trading Tools

There are some educational things available but the pages displaying them were not functioning properly and so we can not evaluate how good the information actually is. There are meant to be video tutorials, help with installing and using MT5, an Ebook and some webinars, the webinars could be viewed and can be helpful for someone just starting out, not necessarily helpful for an experienced trader.

Customer Service

Customer support is around 24/5 however if you have a top-level account or VIP account then you have access to support 24/7. You are able to get in contact using an online form where you submit your query and get a reply by email, there are also 2 email addresses available and a phone number to call if you wanted to speak to someone directly.

Demo Account

Demo accounts are available, simply click the demo account button and fill in your details. The dermo account mimics the markets however are not 100% accurate. They last indefinitely as long as they are being used, if left dormant for too long they are deleted but new accounts can then be opened.

Countries Accepted

UBCFX does not specify which countries they cater for, instead, they state that each individual should understand the laws of their land and make a decision themselves, not the most helpful stance to take.


Straight off the bat their claim of having some of the tightest spreads in the market is proven wrong, when you add an additional 4 pips on top of the normal market spread, you can not possibly have the tightest spreads. Lots of accounts to choose from and the use of MT5 is a bonus, however, it would have been nice to have additional choices. Plenty of instruments to choose from including a few cryptocurrencies will keep you busy trading. Deposit methods and withdrawal methods are good with plenty of options and no fees. While UBCFX may be a competent broker, with the massive spreads on offer, it makes it hard to recommend at this time.

We hope you like this UBCFX review, if you did, be sure to check out some more reviews to help find the broker that is right for you.


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