USGFX Review Is USGFX a Scam or Legit Broker ️
Verify your identity, personalize the content you receive, or create and administer your account. The People Pillar is our evaluation of the USGFX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers. The Process Pillar is our assessment of how sensible, clearly defined, and repeatable USGFX’s performance objective and investment process is for both security selection and portfolio construction.
They are true STP broker because true STP will not offer fixed spreads. Only those who trade against clients would offer fix spread because they know 90% of trader lose, so they don’t go through liquidity providers and can provide fixed spreads. Their live chat is 24 hours and 7 days a week, sometimes they have stupid live chat operator, but they have very good ones as well. I usually just contact with my IB/account manager directly because she knows my situation well and always handle my request quickly. They have slippage but 70% of slippage at USG is in favor of client.
One of the first things a potential trader needs to establish is whether a broker like USGFX is safe to trade with. One of the surest benchmarks to measure the safety of a brokerage is to establish which regulating authorities are watchdogs over its actions. The decision about which platform to choose will depend on what a client would like to trade, therefore it will be one of the criteria when choosing a broker too. The USGFX Mini Account has spreads that start at 2.8 pips, while the Pro ECN Account and the VIP Account have spreads that start at 1.5 pips and 1.3 pips respectively. Withdrawn funds are paid straight back to your nominated bank account or your credit card.
USFG and its ultimate beneficial owner, Mr Soe Hein Minn, have refused to provide the Liquidators access and control of the MT4/5 trading platforms, and failed to deliver the company assets and records. The trading of gold and other precious metals, along with crude oil, copper, or petroleum, plays a major role in the commodities market. Apart from forex trading, long-term investing in gold and other precious metals is a popular way worldwide of portfolio risk management during times of inflation or political or economic uncertainty. Both offer a powerful trading experience, with the difference that MT5 is an advanced version of MT4, but the latter is the most commonly used platform.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading involve leveraged products, and your capital is at risk.
Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive a commission from the companies we feature on this site. One of the key features provided by the platform is negative account balance protection.
USGFX is an Australian based brokerage company that operates through transparency and respect to their clients, values and principles. The broker provides Forex and CFD trading solutions to trade currency pairs, indices, and commodities. Due to its enhancement in client services USGFX maintain also an office in Shanghai and a satellite office in Hong Kong. Even with a minimum deposit, it allows access to the trading platform of the mini account. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds.
Traders can download this trading App to access their accounts via their cell phones. Through attractive affiliate programs, trustworthy third party companies improve their services. This company provides vast number of financial pairs from Forex, Indices, Commodities. The requirements for each account type are listed at USGFX, and typically include proof of residential address, and a government ID or passport. Help future customers by talking about customer service, price, delivery, returns & refunds. It has a segregated client account with the Commonwealth Bank of Australia for the client deposits.
I started trading with USG FX in
I had issues with withdrawing, and that my funds were bounced back due to my local bank not being able to convert USD into my local currency. All our group has been complaining the last 2 weeks even if they have been placing tickmill broker review the withdrawals correctly USG is always bringing up excuses that is something wrong that everyone is doing aka excuses all the time. All of the companies on our website are likely scams and are unregulated companies.
They represent high quality and convenient financial market services as well as different, high tech and secure trading platforms; MetaTrader 4, MT4 Mobile, WebTrader, MT4 Multi terminal and Social Trading. This Forex brokerage is licensed by the Australian Securities & Investments Commission and what is gdax it also maintains client funds in segregated accounts. USGFX is fully authorized by the Australian Financial Services to offer a wide range of financial instruments and products to clients. The range of financial instruments include gold and silver CFDs, AUD/USD, XAU/USD, index CFDs and the like.
MT4 Mobile Trader
Before starting to trade, potential clients of USGFX should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading. If USGFX ’s website itself does not provide enough means, a trader should explore other information sources and means to obtain that skills and knowledge. In the case of USGFX each investor has access to a personal account manager from the firm, which offers 24-hour client support from offices around the world. Forex brokers tend to lure new traders with offers of attractive deposit bonuses. This can be useful, but it is essential to discern what a proper bonus is.
USGFX is an Australian forex broker company that is based in Sydney with an office in Shanghai and a satellite office in Hong Kong and provides Forex and CFD trading. I transferred almost a yearly salary to USG to be able to trade the forex market and after a month I decided to withdraw my money but they have been holding this process for 3 weeks. USG has technologically advanced state-of-the-art servers located in London, New York and Hong Kong to ensure extremely fast speeds of execution for the benefit and advantage of clients. This also means they are able to maintain very low slippage, low latency and of course minimum requotes for their traders. To further add to their international credentials USG also holds an United Kingdom Financial Conduct Authority Licence, which reinforces their strong standing and reputation in the European region.
USG is committed to building long term relationships with its client. This company operates on trust, transparency and respect, and it is with these values and principles that they envision becoming the most trusted and respected forex broker in the world. USG is a premium Australian forex and CFD broker, enabling clients worldwide to trade currency pairs, indices and commodities safely and securely online. USGFX is a multi-award winning, multi-asset global FX & CFD broker, enabling clients worldwide to trade currency pairs, indices and commodities in premium trading conditions. USGFX helps clients grow and prosper as traders and provides a full and integrated suite of trader support services ranging from personalized 1-on-1 coaching and industry-leading market analysis.
Metal trading with USGFX depends upon the kind of account operated by the trader. The information about the documentation required has been provided on the official website () of this broker. This step is like step 3 with more elaborate details on financial services information. In the first stage, you need to fill in the basic information, namely name, nationality, email address, contact number, and verification code. Union Standard International Group Pty Ltd is regulated by the Australian Securities & Investment Commision . Affiliation to ASIC makes sure that the brokers are following the regulation and guidelines of the statutory body.
All they have to do is to follow the social trend of the market through MyFxbook. One thing to remember is that even for demo trading you need to deposit a minimum amount and open an account with this broker. Made withdrawals request for more than 6 months and never get my money. Forex trading, also called currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates. A platform can be a multi-asset one, which means that it allows clients to not only trade forex but also other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies. The facility that enables a trader to get a much larger exposure to the market than the amount he or she deposited to open a trade, is called leverage.
The next account level up requires a $10,000 minimum deposit, with the next step up requiring $50,000. The spreads on these start at 1.5 pips and 1.3 pips respectively, which while not the highest we have seen on the market, aren’t necessarily competitive—especially given the high minimum deposits. The basic account represents the worst value of the three and doesn’t seem to keep pace with other brokers.
IB can enjoy up to 65% of spread rebate on FX & Metal, and up to 50% of commission rebate on Commodities. On 17 June 2022, we filed an application with the Federal Court for its approval to use the statutory trust funds for the public examinations and to hold a Public Examination. Relevantly, our application seeks orders that we can examine numerous parties located within Australia, and also requires production of documentation from various entities and persons. Our solicitors anticipate that the examinations will run over ten days later this year, subject to the Court’s availability and its further orders. Specifically, BRI said that it has been busy investigating the company’s affairs, and filing an application for the court’s approval to use trust funds to publicly examine various parties. Your trading is only as good as your technical financial analysis so get the best analysis you can get and make the right trading decisions.
Regulation & Company Information
The real truth is that this company is unregulated and your funds are not protected in any way and you should never invest your hard earned money in such a company. Complaints on a forex broker or a forex scam should be posted here, BrokerView will deal with the case. Trading Forex carries a high level of risk and is not suitable for all investors. All contents on this website are for informational purposes only.
Best Cryptocurrency pairs
Also, you are able to use Recognia Trading System that gives ultimate trading through intra-day trade ideas built according to personal and very own trading skill. It has been several months since client’s feedback about serious withdrawal issue. In order to improve the efficiency of withdrawal, colleagues in technical department and trading department have repeatedly communicated and coordinated the process. Therefore, after several times of communication with your company, our company has implemented a number of plans and cooperated with your company to solve the problem of client’s withdrawal delays. It is always possible that you could sustain a loss of some or all of your initial investment.
Great customer service
Some people always blame the broker when they lose money, sometimes it is because they are not good traders but they do not want to admit it. Like other brokers, this company offers this common and user-friendly trading platform with several trading tools. Their clients can utilize reliable educational materials from Education Center as well as market news and analysis to improve their trading knowledge and skills for higher success rate. Bonuses and promotions available at USGFX are indicated under the special promotions tab.
Margin is calculated based on the current price of the base currency against USD, the size of the position, and the leverage applied to your trading account. Best forex broker as well as having the best trading platform by Forexawards.com for 2019. I also put in a withdrawal request to USGFX in September 2020 and have received nothing.
Prior to making transactions one should get acquainted with the risks to which they relate. Forex Awards shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial data information knowledge insight wisdom impact staff of the website does not bear any responsibility whatsoever for the content of the press releases or reviews made by the site contributors about the forex companies. The entire responsibility for the contents rests with the contributors and commentators.
USG UK has also kept its deposit and withdrawal options simple and convenient which are the same while mobile trading or trading via the desktop. Before you start trading, you need to submit certain documents for operations of a different kind of account. These programs include seminars and webinars by a senior analyst and other expert advisors. Forex trades could be done by gathering all market related information at one place on a Traders Club platform with knowledge of proper standards and proper market tools. Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. USG has had both its high market share and clients’ profits grown since the company was established.
These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters. USGFX is a multi-award-winning Australian FX and CFD broker who provide clients with access to fast and efficient trading across a wide range of asset classes including currency pairs, indices, and commodities. Headquartered in Sydney, USGFX has steadily grown to be one of the most prominent rising stars in the Asia-Pacific region. It has boosted recently through a high-profile sponsorship with English Premier League team Sheffield United.
The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website. This trading platform provides control on multiple accounts concurrently, perfect for money managers. This company offers various trading accounts with different specifications to meet all trading preferences.