UFX: A Scam Broker or Legit? Full Review & Warnings

Citing FCA warnings , CySEC announcements , CONSOB bans , FPA complaints , and Trustpilot user reviews , this article reveals UFX's transformation from "fake compliance" to "offshore black market," detailing regulatory penalties, user fund risks, and fraudulent schemes. Is UFX a scam broker or legit? A full 2025 review with scam warnings and BrokerHiveX ratings.

1. UFX Platform Background and Current Status of the Official Website

UFX was originally registered in Cyprus by Reliantco Investments Ltd. and was authorized by CySEC (Cyprus Securities and Exchange Commission) .

• Official website domain name : www.ufx.com (still active as of August 2025)

• Historical publicity : A leading global forex broker, offering MT5 and proprietary trading platforms, with tens of millions of registered customers

• Actual situation :

• From 2017 to 2019, CySEC penalized the company for multiple violations.

• Completely lost regulatory license in 2020

• Currently, the main body has been transferred to the Marshall Islands , and it has completely become an offshore unregulated platform

2. Regulatory and Compliance Issues

1. CySEC’s regulatory history and fines

• UFX has been fined several times by CySEC for “misleading clients, failing to fully disclose risks, and selling highly leveraged products.”
  👉 CySEC announcement link

• In 2017, the amount of fines reached $750,000 , setting one of the records for that year.

2. License revoked

• In 2020, Reliantco Investments Ltd. voluntarily relinquished its CySEC license.

• From then on, UFX became a completely unregulated platform .

3. Regulatory warnings from multiple countries

• FCA (UK) : UFX promotes financial services to UK investors without authorization.
  👉 FCA Warning

• CONSOB (Italy) : Blacklisted and banned from providing investment services.
  👉 CONSOB Warning List

• ASIC (Australia) : Added its website to the investment blacklist.

Conclusion: UFX has completely fallen from being a “once compliant” to being an “offshore black platform”.

3. Trading Conditions and User Experience

Official website promotion

• Spreads as low as 0.7

• Proprietary platform MassInsights™ (market sentiment analysis tool)

• Bonuses and Promotions

• 24/5 customer support

User feedback

• Spreads are inflated : far exceeding the advertised data

• Slippage and churn : Orders cannot be executed, especially during news.

• Forced liquidation : Some user accounts were manipulated by backend to liquidate 👉 FPA user complaints

IV. Fund Security and Withdrawal Barriers

This is the area where UFX receives the most complaints.

1. User complaint cases

• FPA users :

  “They blocked my withdrawal request and forced me to deposit more money.”
  “After CySEC license was gone, withdrawals became impossible.”
  👉 FPA Complaint

• Trustpilot User :

  “UFX is a scam. They keep calling me to deposit, but never processed my withdrawal.”
  👉 Trustpilot review

2. Common routines

• Mandatory additional deposit before withdrawal

• Charging so-called "handling fees/taxes"

• Directly freeze profitable accounts

3. Compare compliant platforms

5. Media and Third-Party Exposure

• WikiFX : Very low risk rating, marked as unregulated.

• BrokerChooser : Puts it on the "high risk list."

• TradersUnion : It pointed out that its regulatory license has been revoked and it is a false advertising platform.

6. Typical User Cases

1. European case (Italy) : The investor discovered that his account was frozen only after being alerted by CONSOB, and the funds of 8,000 euros could not be recovered.

2. Asian case (Malaysia) : Due to bonus terms and conditions, users were unable to withdraw their account balances.

3. Middle East case (UAE) : Customer service forced the customer to invest a large sum of money, and the account was blocked after the customer refused.

7. Detailed explanation of fraudulent platform tactics

UFX's tactics are representative:

1. Fake compliance : CySEC license used as publicity stunt

2. MassInsights™: A Disinformation Tool with No Value

3. Aggressive marketing : bombarding customer service calls to induce additional investment

4. Withdrawal problems : frozen profits, additional fees, withdrawal rejections

5. Offshore shell companies : Marshall Islands companies conceal the true owners

8. Investor Rights Protection and Legal Recourse

1. Reporting Channels

• FCA Complaints: FCA Scam Reporting

• CONSOB Complaints: CONSOB Contact

• CySEC Complaints (historical): CySEC Complaints

2. Difficulties in protecting rights

• License has been revoked → No regulatory authority

• The Marshall Islands has a weak judicial environment, making it difficult to file complaints.

• Customer service lost contact → chain of evidence difficult to complete

3. Investor Recommendations

• Stay away from unregulated/offshore platforms

• Check the validity of the license before depositing

• Save all transaction and communication records

9. Comparison with other fraudulent platforms

10. BrokerHiveX Style Score

• Fund security : 1/10 → Numerous withdrawal failures

• Regulatory compliance : 1/10 → License revoked, warnings from multiple countries

• Trading Experience : 2/10 → Slippage and Margin Call Complaints

• User reputation : 1/10 → Trustpilot/FPA negative reviews concentrated

• Transparency : 1/10 → Offshore structure, information opacity

Overall rating: 1.2/10 → Highly risky scam platform🚨

👉 BrokerHiveX Conclusion : UFX has completely fallen from a "compliant" appearance to an "offshore black platform" and has been named by regulators in many countries. Investors are strongly advised to stay away from it.