UFX – Is it scam or safe?
UFX is a trading name of Reliantco Investments Limited – another Cypriot company offering online trading. It is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). The CySEC license allows it to offer financial services, including forex.
However, there are some posts in forex forums that inform about money withdrawal difficulties and fake positive reviews. Moreover, there are recommendations not to deal with this company, confirmed as a scam.
So far, we haven’t received any complaints from clients of UFX.
If you feel frustrated by UFX and have something to share with us, please fill in the form below, describing your case:
Hi everybody. Please, take my advice and stop trading with ufx. Otherwise, you will lose all your money. They will dedicate a personal ‘trainer’ to you who will guide you through the platform and charts. But in the end, all they do is to ask for more money. When market goes against you they start calling you for more money. That was the way I lost everything. Believe me, they are so polite at the beginning and the only purpose is to deposit! Stay away!
They are total scammers. I have no words to describe my last three weeks. I lost more than USD250K due to their scam practices. Now I have some health problems with my sensitivity because of these thieves. I opened my account with UFX in June and I made a profit of USD35K helped by my luck. Then a company trader named Jane called me and pushed me to trade with large sums and I would have bigger profits. She was so convincing and I invested more money. After that for less than two hours I suffered a huge loss. Just before closing the market I was losing near USD40K. When the market opened on Monday my loss jumped do more than USD150K. I was scared and decided to close my losing deals trying to save the rest of my money. Suddenly Jane called me and convinced me not to close my positions but to put some extra money to cover the loss. So I took a loan of USD100K from banks and friends and she continued pushing me to deposit more and more. By the end of the week my loss increased to USD250K. I am shocked. I realize they scammed me so convincing. They must be stopped. This Jane must go to jail!
They are rude people. I don’t know how they have a license. They called me nonstop, although I told them a family member died. They didn’t care and kept calling pushing me to trade. They said I am “disrespectful”, can you imagine? They made calls even when I sleep. I told them stop calling but they continued telling me the price of gold and oil. Do not trust them. Scam company.
I lost over USD100k for three months by being pushed to invest more and more money. They assigned me a trainer, Eathan Ross, who were using my credit card to cover all losing deals. They are sophisticated scammers who drained my cards professionally. The entire scheme is fraud. Stay away!
UFX is scam! They stole $20,000 from me. Their London phone numbers and address are fake. They are in Israel. All their names are fake ones. And the fact is UFX are in the warning lists in regulatory authorities in Canada and Australia. Their fake employee Sean Dean contacted me by WhatsApp, email and phone. He said he had more than nine years trading experience. He said he worked very quickly and the gold would make some big movement this week but I had to invest more money in my account. Then the balance of my account amounted to $7,000. He presented his strategies developed especially for the elections. I thought they would really work. Then he connected to my platform using TeamViewer just to show me “how it works” Then he pushed me to buy 10,000 contracts of Oil and my position quickly showed a loss of $6,000. Then he told me if I didn’t deposit, I would lose all my money. He assured me I would have taken this extra money later when my position would be profitable. So I deposited by my card and the invested money amounted to $20,000. While I was still in a huge loss, he assured me Oil would appreciate to $60 next week but later in the day he called me to put more money or I would lose all. So, maybe I am not pro in trading but at this point I realized this is a fraud scheme. The oil price fell then more and took all my money. Sean called me the next day insisting to put more money in Bitcoins. Too good to be true! Stay way!
The offer high speculative and unreliable analysis. They gave me some stupid advice and I lost 6000$. They are all but not analysts. Gamblers precisely. They don’t recommend using stops but they do recommend to trade with all your money. This is ridiculous. And when you lose all money they will call you to deposit more! Do not trust them!
Very poor customer support. They don’t care about anything including you. They called me nonstop and although I insisted they opened my account in dollars instead of euro. That caused me an additional loss because each transfer is made at a different exchange rate. And if you think you can keep open positions on currencies forever, no you can’t. They expire in 90 days and then they are closed automatically. Bad broker.
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