USGFX Forex Broker
Basic Information
Australia
5-10 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Rating Index
USGFX Forex Broker - Complete Information Guide
1. Broker Overview
USGFX, officially known as Union Standard International Group Pty Ltd, was established in 2005 and is headquartered in Sydney, Australia. The company operates as a private entity and provides services primarily in the retail forex and CFD trading markets. Over the years, USGFX has expanded its reach, opening additional offices in Shanghai and a satellite office in Hong Kong, thus catering to a diverse clientele across the Asia-Pacific region.
The broker has developed a solid reputation for its commitment to customer service and technological innovation. USGFX offers a range of trading solutions, including forex, indices, and commodities, and prides itself on providing a transparent trading environment. The company has achieved several milestones, including various awards for its services and platforms, positioning itself as a key player in the forex brokerage landscape.
USGFX operates under a business model that focuses on retail forex trading, catering to individual traders while also offering services that may appeal to institutional clients. This comprehensive approach allows USGFX to maintain a competitive edge in the rapidly evolving financial markets.
2. Regulation and Compliance Information
USGFX is regulated by the Australian Securities and Investments Commission (ASIC), holding an Australian Financial Services License (AFSL). The license number is 302792. However, it is important to note that USGFX has faced regulatory challenges; its licenses with ASIC and the Financial Conduct Authority (FCA) in the UK were suspended due to compliance issues.
The company is committed to adhering to strict guidelines regarding client fund protection, with all client funds held in segregated accounts at reputable banks. This segregation ensures that client funds are protected in the event of insolvency. USGFX has also implemented a Know Your Customer (KYC) policy and adheres to Anti-Money Laundering (AML) regulations to prevent fraudulent activities.
Despite its regulatory status, potential clients should be aware of the risks associated with trading with a broker that has faced regulatory scrutiny. Investors are encouraged to conduct thorough research and consider the regulatory landscape before engaging with USGFX.
3. Trading Products and Services
USGFX offers a wide range of trading products, primarily focusing on forex currency pairs. The broker provides access to over 60 currency pairs, including major, minor, and exotic pairs. Additionally, USGFX offers CFD products across various categories, including indices, commodities, and precious metals like gold and silver.
The range of products available for trading includes:
- Forex: Major pairs such as EUR/USD, GBP/USD, and USD/JPY.
- CFDs: Indices like the S&P 500 and commodities including crude oil and gold.
- Cryptocurrencies: Limited offerings, primarily focused on Bitcoin.
USGFX regularly updates its product offerings to meet market demands, ensuring that traders have access to the latest trading instruments. The broker is particularly focused on providing services to retail clients, although it also has provisions for institutional services.
4. Trading Platforms and Technology
USGFX supports two of the most widely used trading platforms in the industry: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms are available for desktop and mobile devices, providing traders with the flexibility to trade on the go. The broker also offers a web-based trading platform, allowing users to access their accounts without downloading software.
The execution model employed by USGFX is primarily Market Making, although it also offers ECN and STP options for certain account types. This diverse execution model allows traders to choose the method that best suits their trading style.
USGFX's trading infrastructure is robust, utilizing advanced technology and optical fiber connections to servers located in London and New York. This setup ensures low latency and fast execution speeds, which are critical for successful trading.
5. Account Types and Trading Conditions
USGFX offers several account types to cater to different trading needs:
- Mini Account: Requires a minimum deposit of $100, spreads starting from 2.8 pips.
- Standard Account: Requires a minimum deposit of $10,000, with tighter spreads starting from 2.2 pips.
- VIP Account: Designed for high-volume traders, requiring a minimum deposit of $50,000, with spreads starting from 1.3 pips.
- Pro-ECN Account: Also requires a deposit of $50,000, offering spreads from 1.5 pips.
All accounts provide access to high leverage options, up to 1:500, allowing traders to maximize their trading potential. The minimum trade size is 0.01 lots, and overnight fees may apply depending on the positions held.
6. Funds Management
USGFX supports a variety of deposit and withdrawal methods, making it convenient for clients to manage their funds. Accepted methods include:
- Bank Wire Transfers
- Credit/Debit Cards
- E-wallets like Skrill, Neteller, and FasaPay.
The minimum deposit requirement varies by account type, with the Mini Account starting at $100. Deposits are typically processed quickly, often within a few hours, while withdrawals may take 1-3 business days depending on the method used.
While USGFX does not charge deposit fees, withdrawal fees may apply, particularly for credit cards and certain e-wallets. Clients should be aware of these fees when planning their trading activities.
7. Customer Support and Educational Resources
USGFX offers customer support through multiple channels, including:
- Phone
- Live Chat
Support is available 24/5, ensuring that traders can get assistance when needed. The broker provides multilingual support to accommodate its diverse client base.
In addition to customer support, USGFX offers a range of educational resources designed to help traders improve their skills and knowledge. These include:
- Webinars
- Video Tutorials
- E-books
- Market Analysis Reports
These resources are essential for traders looking to enhance their understanding of the markets and develop effective trading strategies.
8. Regional Coverage and Restrictions
USGFX primarily serves clients in the Asia-Pacific region, with a focus on Australia and neighboring countries. The broker has a significant presence in China, with offices in Shanghai and Hong Kong.
However, USGFX does not accept clients from certain countries, including the United States and Japan, due to regulatory restrictions. Potential clients should verify their eligibility before attempting to open an account with the broker.
In conclusion, while USGFX offers a range of trading products and services, potential clients should carefully consider the regulatory environment and customer feedback before engaging with the broker. The combination of advanced trading platforms, competitive account options, and a commitment to customer service makes USGFX a viable option for many traders, but due diligence is essential.
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Latest Reviews
只会哼哼的小猫怪
Hong Kong
The withdrawal has been delayed for one or two years and has not been resolved, why is it always delaying time! Fooling again and again, delaying again and again
Exposure
2023-08-17
趋势
Hong Kong
Felicia, Business director of USGFX International, induced fraud to the customer. The customer did not violate any trading mechanism but tens of thousands of US dollars were wiped out that month and only a few hundred US dollars were left. When withdrawing last couple hundreds dollars, Felicia did not allow withdrawals and said that the withdrawal will only be processed after the deposit. After the deposit, Felicia refused to withdraw again when I applied for withdrawal and asked for another deposit and withdrawal will be processed after new client joined. The total deposit of the month was dozens of times of the withdrawal. Felicia kept denied the request for the last withdrawal after the liquidation. For her own performance, after the customer met the requirements of the platform, Felicia doid not allow the last withdraw and it will not be processed. I had applied to ask the platform query all the deposit and withdrawal data and change the customer service manager. After seeing the query data and the change of the customer manager email, Felicia directly blocked the backstage. Felicia is the management of USGFX International. For the sake of her performance, customers' requests were not process even they met requirements of the platform. Felicia colsed the back office when I did not want to cooperate with her and demanded to change customer service manager. If the management is ike this, the employees below will follow. The final withdrawal will never arrive. I hope that other customers and agents will not trust any promises made by the Taiwan Business Manager of USGFX International and any promises made by the MOGA Taiwan business manager, so to be not deceived.
Exposure
2021-12-01
FX9529688031
Hong Kong
I traded on 2023.11.30 at 13:15:26. Order number 66904610. When I wanted to trade on 2024.02.22/23, I found that it could not be traded. I searched for my previous contact information, and on the 26th I found that the email was returned and I couldn’t contact him. I want to go to Lianzhun International https://www.usgforex.asia/, but I forgot my password. I can’t change the password according to its method, and I can’t withdraw money. My balance is 4936.16USD.
Exposure
2024-02-24