There is a new thread on the Forex Brokers sub-forum, from a first-time poster, dealing with UFX Markets. This poster refers readers to [I]Forex Peace Army’s[/I] review of [B]UFX Markets,[/B] which concludes that UFX Markets is a scam.
Doing a google search of UFX, I find that UFX Markets (Belize) is the same company as UFX Bank (UK) currently in Group 2 of our Offshore Broker List. Further, UFX Bank seems to have disappeared from the internet, and apparently has disappeared as a “London forex broker”, as well.
Most links to UFX Bank return “page not found”. Those links which are [U]not[/U] disabled connect to UFX Markets (Belize).
Given all that, I will remove [B]UFX Bank (UK)[/B] from our List, and add [B]UFX Markets (Belize)[/B] to Group 2, indicating that they do not accept U.S. clients. This may or may not be correct, and it’s subject to further vetting. (The UFX Markets website seems to imply that [U]they do[/U] accept U.S. clients).
But, until their U.S. client policy is clarified, and until we get a better read on the scam allegations from FPA (and others), I think we should leave UFX Markets in Group 2.