Uzex has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Market...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
After seeing ads for Uzex online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Financial Markets Authority. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Unauthorized firm|Found in IOSCO warnings database
If you are reading this considering Uzex - run. I wish I had read more negative reviews through a podcast recommendation. I thought the positive ones were real. Maybe some are. My experience over since the beginning of the year has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Social trading features|Easy to use platform|Quick verification
Cons: No dark mode on mobile
I had a dispute with Uzex and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Responsive team|Clean UI
Cons: None so far
After spending for a few weeks now trying to make Uzex work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Multi-device support|Regular platform improvements|Multi-currency support|Dedicated account manager
Cons: Slow to add new assets|Cannot customize dashboard fully
Uzex changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Fast support response|Risk management tools
Cons: Minor UI glitches occasionally
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Uzex is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Pros: Initially responsive customer service
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
I referred a friend to Uzex after attending a webinar they hosted. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Reliable uptime|Multiple order types|Automated trading options|Full transparency
Cons: Could offer more webinars|Minimum deposit could be lower
Do not believe the bonus offer from Uzex. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited after a friend recommended them and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Two-factor authentication|Clear documentation|Clean UI
Cons: Limited ETF selection|Currency conversion fee exists
After since the beginning of the year with Uzex, I can only describe the experience as death by a thousand cuts. No single issue was catastrophic, but the constant stream of small problems, slow responses, and missing features wore me down until I finally left.
Pros: Wide product range|Dividend tracking
Cons: Help articles are sometimes vague|Minor UI glitches occasionally
Uzex advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Wide product range|Automated trading options|High security standards|Fast execution
Cons: Live chat only during business hours|Email notifications too frequent