UFX Review - ufx.com Scam Warning

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UFX Company Review

Established year: 2007
Headquarters: Israel
Licenses: CySEC and VFSC
Warning: scam

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UFX Rating - UFX.com Scam Warning

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Who is UFX Company?

Founded in 2007 in Israel, UFX Global Limited is part of the ParagonEX Group and operates UFX.com outside the European Union. The ParagonEX group of owners Saar Pilosof and Haim Toledana includes Relantco Investments Ltd, a provider of financial services regulated in Cyprus, as well as Israel's Toyga Media Ltd and Toyga Online Ltd. ParagonEX and its subsidiary PXexchange Limited are interested in the technology, hosting and trading services of UFX.com.

Reliantco Investments operates UFX.com within the European Union, according to an SEC report. Within the group, Toyga is responsible for client acquisition and support and has agreements with UFX. Toyga is entitled to a commission for entering new customers. You receive 30% of Reliantco's income derived from the trading volume of end users referred to Reliantco Investments and 20-80% when referred to UFX Global Limited.

UFX (previously known as UFX BANK, UFX trade, and UFX Markets) obtained a CySEC license in 2011 under the name of its parent company, Reliantco Investments Limited, which uses UFX as its trading name. And in 2014, the company's name was changed from UFX Markets to UFX, to match its trading name. UFX also has a regulated subsidiary in Vanuatu, under the name UFX Global, (VFSC) which is the license that Arabs are registered with.

Various fines

UFX is one of the well-known companies with fraud cases since its establishment. It is one of the brokerage companies close to the Arab market and has offices in some Arab countries. It also provides trading services on some Saudi and Egyptian shares. This will not happen without agreements with Arab governments.

The company received fines. Different from CySEC, on February 13, 2013 a fine of 100,000 euros, on May 20, 2015 a fine of 8000 euros, and on November 27, 2015 a fine of 123,000 euros, and that's what we could only reach.

Warnings from regulatory bodies worldwide from UFX

  • November 28, 2011 The Financial Services and Markets Authority (FSMA), the Belgian regulator, has warned ufx bank
  • February 22, 2012 The Saskatchewan Financial Services Commission (SFSC) issues an order to stop trading operations, against UFX Bank, Mike Lane, and Amy Walsh.
  • 07/23/2014 The Ontario Securities and Exchange Commission (OSC) added UFX to its blacklist.
  • April 17, 2019 The New Zealand Financial Markets Regulatory Authority (FMA) has issued a public warning against a scam company called UFX Global Limited. And all that bears this name UFX markets, UFX bank, UFX trade.
  • 3 June 2019 The Australian ASIC has warned UFX Global Limited as a potential scam.

Then we go to YouTube clips. If you search for a UFX evaluation or a UFX scam, you will find many clips and phone recordings of the company's attempt to make the novice customer deposit and not only this, but also trade on his account, although the company itself says that it does not provide any investment advice but from It is clear that trading operations on clients’ accounts are carried out in a systematic manner in all branches of the company in all languages and is not an individual mistake as promoted by UFX. The Arabic Forex website warns its Arab visitors not to deal with UFX or any company affiliated with it, because you will undoubtedly be exposed to fraud.

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