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FlowBank vs UFX 2023

BrokerNotes.co

Written by BrokerNotes.co

January 31, 2023

Trying to decide between FlowBank and UFX? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, FlowBank ranks more highly than UFX.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall RatingFlowBankUFX
Overall Rating 7.7 / 10 6.6 / 10
Account TypeFlowBankUFX
Standard Trade Size (100,000 units) Yes Yes
Mini Trade Size (10,000 units) Yes Yes
Micro Trade Size (1,000 units) Yes Yes
Islamic Account No Yes
Copy TradingFlowBankUFX
Social Trading / Copy Trading Yes Yes
DupliTrade No No
ZuluTrade No No
CryptocurrencyFlowBankUFX
Cryptocurrency (Physical) No No
Cryptocurrency (CFD) Yes Yes
Bitcoin Yes Yes
ethereum Yes Yes
Forex Trading (Spot or CFDs)FlowBankUFX
Forex Trading (Spot or CFDs) Yes Yes
Mobile Trading - Forex or CFDs Yes Yes
Indices (Index CFDs)FlowBankUFX
DAX Yes Yes
Dow Jones Yes Yes
FTSE Yes Yes
NASDAQ 100 Yes Yes
Nikkei Yes Yes
SP 500 Yes Yes
InvestmentsFlowBankUFX
Forex Trading (Spot or CFDs) Yes Yes
Spread Betting No No
Social Trading / Copy Trading Yes Yes
Metals Yes Yes
Energies Yes Yes
Agriculturals Yes No
ETF Yes Yes
U.S. Stocks (CFD) Yes Yes
Trading PlatformsFlowBankUFX
Apple iOS App Yes Yes
Android App Yes Yes
Proprietary Platform Yes Yes
Desktop Platform (Windows) Yes Yes
Web Platform Yes Yes
MetaTrader 4 (MT4) Yes Yes
MetaTrader 5 (MT5) Yes Yes
Regulatory LicensesFlowBankUFX
Tier-1 Licenses 1 0
ASIC Authorised (Australia) No No
IIROC Authorised (Canada) No No
FCA Authorised (U.K.) No No
SFC Authorised (Hong Kong) No No
MAS Authorised (Singapore) No No
FINMA Authorised (Switzerland) Yes No
CFTC Registered (USA) No No
Tier-2 Licenses 0 1
Tier-3 Licenses 0 0
Research, EducationFlowBankUFX
Trading Central (Recognia) No Yes
Forex News (Top-Tier Sources) Yes Yes
Daily Market Commentary Yes No
Autochartist No No
Investor Dictionary (Glossary) No No
Videos - Beginner Trading Videos Yes No
Client Webinars (Archived) Yes No
Trading CostsFlowBankUFX
Minimum Initial Deposit $0.00 $100
Average Spread EUR/USD - Standard N/A 3 (Jan 2021)
All-in Cost EUR/USD - Active N/A 2 (Jan 2021)
Active Trader or VIP Discounts Yes Yes
Bank Wire (Deposit/Withdraw) Yes Yes
Visa/Mastercard (Credit/Debit) No Yes
PayPal (Deposit/Withdraw) No No
Trading ToolsFlowBankUFX
Watchlists - Total Fields 7 7
Mobile Watchlist Yes Yes
Charting - Indicators / Studies (Total) 37 116
Mobile Charting - Indicators / Studies 5 30
Trust FactorsFlowBankUFX
Year Founded 2020 2011
Publicly Traded (Listed) No No
Bank Yes No
Authorised in European Union No info Yes info
Trust Score 77 67
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FlowBank vs UFX Comparison

Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare FlowBank vs UFX.

Can I trust FlowBank?

FlowBank has a trust score of 77, giving it a "Average Risk" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.

Can I trust UFX?

UFX has a trust score of 67, giving it a "High Risk" trust label.

Is FlowBank a good broker?

FlowBank is a relatively new forex broker that has quickly expanded its offering of investment products, and traders at FlowBank enjoy the benefits associated with holding a Swiss bank account alongside the ability to trade forex and CFDs. FlowBank is regulated in Switzerland, but lacks the additional regulatory licenses held by the most trusted brokers.

Is UFX a good broker?

UFX offers the full MetaTrader suite and its own proprietary platform, as well as a growing selection of markets. That being said, spreads are much wider than the industry average, and as UFX holds just one regulatory license, its trust factor is well below the industry average.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. FlowBank is FINMA Authorised (Switzerland), while UFX is none., neither have ASIC Authorised (Australia), IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand), FCA Authorised (U.K.) and CFTC Registered (USA)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, FlowBank is none, while UFX is CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses unfortunately, neither FlowBank nor UFX are SCB Authorised (Bahamas), IFSC Authorised (Belize), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu)., neither have VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

Both FlowBank and UFX offer a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade

Does FlowBank offer MetaTrader? Does UFX offer MetaTrader?

Both FlowBank and UFX offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.

How do FlowBank and UFX differ in terms of minimum deposit? What about average spreads and funding options?

FlowBank requires a minimum deposit of $0.00, while UFX requires a minimum deposit of $100. From our testing we found FlowBank offers spreads of N/A, while UFX offers spreads of 3 (Jan 2021). FlowBank supports Bank Wire (Deposit/Withdraw) for popular funding options, where UFX supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw)., neither have PayPal (Deposit/Withdraw)

Which brokers offers more tradeable asset classes, FlowBank or UFX?

FlowBank offers a more diverse selection of investment options than UFX allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, FlowBank has 408600, compared to 619 from UFX.

Can I trade cryptocurrency with FlowBank or UFX?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither FlowBank nor UFX allow you to trade physical cryptocurrencies.

Who offers more research tools, FlowBank or UFX?

In terms of research and research tools FlowBank gives traders the following tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading. In comparison UFX has the tools listed here: Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading., neither have Autochartist

Broker Reviews

Still looking for more information, read our broker reviews.

FlowBank Review

UFX Review

Overall winner: FlowBank

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We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.

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