UFXBank.com announced today that they will be lowering the minimum deposit requirement to $100. The move is expected to bring in a host of new clients and will help to open up the forex market to young enthusiastic traders.
Online PR News – 31-October-2010 – – UFX Bank introduces a program designed to bring in a variety of new traders.
UFXBank.com announced today that they will be lowering the minimum deposit requirement to $100. The move is expected to bring in a host of new clients and will help to open up the forex market to young enthusiastic traders. The services will be limited to basic platform access, but it will allow traders an opportunity to experience real trading with a lower initial investment.
Marketing Representative for UFXBank, Lee Stone, believes that this will provide traders a more realistic trading experience. "In contrast to trading on a Demo account, trading real money allows users to experience the thrill of having something on the line when making their trades, you can't get that from a demo."
For traders depositing between $100 and $499, accounts will be referred to as “Micro Accounts”, and will offer a very low minimum deal size (MDS) of $500. Since UFXBank offers leverage of 200:1, the MDS allows a lot of room to trade with.
The new minimum deposit brings UFXBank closer in line with many of its competitors. One advantage their move has, as opposed to some of the competition, is that new clients can still take advantage of initial deposit bonuses and other promotional offers.
UFXBank uses the ParagonEX trading platform, whose solid reputation is built on simplicity and security. Features include commodities and index trading in addition to over 40 currency pairs. If you have any further questions or concerns, customer service is available 24 hours a day during the forex trading week.