USG Forex Broker

USG Review SummaryFounded2021Registered Country/RegionUSARegulationFCA (Suspicious clone)Market InstrumentsCurrencies, indices, commoditiesDemo Account✅LeverageUp to 1:500SpreadFrom 2.2 pips (Standard account)Trading PlatformMT4, MT5Min Deposit$100Social/Copy Trading✅Customer SupportLive chatTel: +61 291890223Email: clientsupport@usgfx.global USG was registered in 2021 in the USA, which is a broker focusing on the currency, indice, and commodity market. It uses MT4 and MT5 as its trading platforms, and it offers 4 types of accounts, with a minimum deposit of $100 and a maximum leverage of 1:500. However, it holds a suspicious clone FCA license. Please note the potential risks.Pros and ConsPros Cons Demo accountsSuspicious clone FCA licenseFlexible leverage ratiosLimited tradable asset classesMT4 and MT5 providedWide spreadsSocial/copy trading providedNo deposit fee chargedMultiple payment optionsLive chat supportPromotions offeredIs USG Legit? USG claims to offer some protection measures including segregation of accounts, Negative Balance Protection, and accounts with major banks. However, the Financial Conduct Authority (FCA) regulation (License Type: Straight Through Processing (STP) license number: 798776) claimed by this broker is suspected to be clone. Therefore, USG currently has no valid regulation, which means that there is no government or financial authority oversighting their operations. It makes investing with them risky.Regulatory AuthorityFinancial Conduct Authority (FCA)Regulatory Status Suspicious CloneRegulated by UKLicensed Institution Union Standard International Group LimitedLicensed TypeStraight Through Processing (STP)Licensed Number798776What Can I Trade on USG? On USG, customers can explore the currencies, indices, and commodities markets, as is shown on the official website.Tradable Instruments Supported Currencies✔Commodities✔Indices✔Stocks❌Cryptos❌Bonds❌Options❌ETFs❌Account Type/Fees USG provides 4 types of accounts, including Mini, Standard, VIP, and Pro-ECN. Besides, a demo account is also available.Account TypeMin DepositSpreadLeverageMini$100From 2.8 pips1:100, 1:200, 1:400, 1:500Standard$10,000From 2.2 pipsVIP$50,000From 1.3 pipsPro-ECNFrom 1.5 pips1:100Leverage The leverage can be 1:100, 1:200, 1:400, and 1:500, depending on the types of accounts. Careful considerations are recommended, because high leverage is likely to bring high potential risks.Trading Platform USG uses MT4 and MT5 as its trading platforms.Trading PlatformSupported Available Devices Suitable forMT4✔PC, web, mobileBeginnersMT5✔PC, web, mobileExperienced tradersSocial/Copy Trading USG provides social trading and copy trading services. On its platform, customers can share their trading experiences, and they can gain some insights from top traders.Deposit and Withdrawal USG supports various types of deposit and withdrawal options. Deposit OptionsDeposit Options Fees Processing Time Bank wire transfer❌1-3 working daysVISAInstantly to 2 hrsPerfect Money1 working dayFasapay; online banking in Thailand, Malaysia, Indonesia, Vietnam, and Philippines; VoguePayInstantlyCoinpayments0.5%Instant to 30 minsGCPAY❌InstantlyAstroPayBy region: 2.4% to 7.5% Withdrawal OptionsWithdrawal Options Fees Processing Time Bank wire transfer$403-5 working daysVISA; Perfect Money; Fasapay; online banking in Thailand, Malaysia, Indonesia, Vietnam, and Philippines❌VoguePay1.5% + $5.00Coinpayments; GCPAY$10