Anyone used the UFX trading platform?
I had a pretty weird encounter where I signed up seeing a free $50 to get started in a random advert to know more about it. Immediately after this I received a phone call from an unknown location however with a 02… number. Some what a redirected call. As I picked up it started to ring followed by a person talking on the other end.
He didn't ask what I was doing at that very moment, whether or not I have time to have a chat etc. Since I actually had sometime in hand I ended up extending this conversation.
To cut the long story short. The only objective of the caller was to give me a crash course in FOREX trading by buying and selling stocks and wanting me to invest $500 as a minimum to go with the free $50. So in total $550 and to blindly follow what he reckons I should buy. It was literally listen to him or go to hell sort of attitude.
They were extremely pushy and trained to probably next level to even use aggression to get things underway.
Anyone has any experience with these people?
Cheers
Depends on how it works…
I'm pretty sure that is only the broker and the person marketing the product is someone else. $550 isn't going to allow you to do much even if you follow.
If you follow someone's trades and you don't have the same margin available, you'll just end up getting stopped out and losing everything during normal fluctuations. I wouldn't trade FX with anything less than $10k minimum, even with access to micro lots.