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. The features offered on both platforms are slightly different. One of the key features provided by the platform is negative account balance protection.

This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering.

usgfx review

For Mini Accounts, the minimum spread is 2.8 pips for EURUSD and 3 pips for GBPUSD. All spread changes are variable, and USGFX charges an additional $10 per lot in addition to the spreads for trading stock & indices. The same method as used to fund an account must usually be used to withdraw money and monies will be only refunded to accounts in the same name as the trading account. 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.

Type 0 – in pips, Type 1 – in the symbol base currency, Type 2 – by interest, Type 3 – in the margin currency. Only brokers with the same calculation method of swap are presented in the chart on the right. Don’t forget to follow us via our various social media profiles and keep up with the latest scoop about our company. We intend to provide a more detailed report to all creditors once we have completed the Public Examination process and have a view on what recoveries may be available to pursue. In the interim, we will continue to provide regular reporting to the COI, as the creditors’ appointed representatives.

FXTM Fees, Spreads, and Commission

Commissions are the charges imposed by an investment broker on a trader for making trades on the trader’s behalf. The level of commissions will vary between different brokers and also depends on the asset being traded and the type of service offered by the broker. USGFX has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed USGFX in the list of scam brokers 2021.

usgfx review

The financial instruments are listed in the education centre under metals contract details, Forex contract details, and CFD contract details. Bonuses and promotions available at USGFX are indicated under the special promotions tab. They include several time sensitive promos which can be found here. One such promotional offer is the 50% deposit bonus which is available over the first 60 days from the date of your deposit. There is a friend referral program which rewards traders with up to $200 when the referred friend deposits $999. Various trading platforms are available, including MetaTrader 4 and MetaTrader 5.

USGFX offers fair options to choose a suitable trading style and its advanced platforms can make traders feel comfortable while trading the world’s markets. USGFX offers featured ideas, an economic calendar, and a weekly market analysis. Its partnership with Trading Central provides clients with the latest news and data, technical analysis, and trading setups from partners like Bloomberg, Dow Jones Newswire, Interactive Data Real-Time Services, and Thomson Reuters. As with currency exchange markets, commodity markets offer different investment opportunities for traders. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of inflation or economic uncertainty. The forex trading software provided by a broker company to its clients is called the platform and is used to carry out their trades.

How much does it cost to recover my funds?

USGFX offers a demo account option to its clients based on USGFX reviews. With the demo trading, option clients can get an understanding of the features of the platform before beginning the live trading. Even with a minimum deposit, it allows access to the trading platform of the mini account. To trade in other accounts, a higher deposit amount is needed. Spreads for the Mini Account start at 2.8 pips which are fairly high compared to that offered by other brokers.

usgfx review

Multiple account options are available, and UK Forex clients can enjoy an array of financial instruments including commodities, indices, currencies and FX, and CFDs. The company’s liquidity providers include Citi, BNP Paribas, Credit Suisse, FX Spot Stream™, JP Morgan, UBS, Bank of America Merrill Lynch and others. Forex clients can stay abreast of the latest developments on social media channels Facebook, Twitter, LinkedIn, and G +.

In its way to make clients educated about market proceedings in real time, current analysis, trading signals, this regulated broker has come up with a new project known as Traders Club. Clients need to provide their bank details, and a verification canadian forex brokers process has proceeded for authentication. Thereafter, the withdrawal amount is deposited in the client’s account. These accounts have been designed in a manner that they are suitable for both beginners and advanced traders.

We have the most perfect and complete profit plan and partnership cooperation system. We dedicate ourselves to you with up-to-date creative strategies. Withdrawals by means of certain methods may be processed within a day but depending on bank services it may take several days for the money to be available.

About USGFX Trading

It is really important that you do not trade any money that you can’t afford to lose because regardless of how much research you have done, or how confident you are in your trade, there will always be a time that you lose. 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.

Like many other traders, I spoke to some sort of experts and they were able to get my money including my accruals. I implore other investors buy mastercard stock to stay clear of USG FX, they have nothing to offer. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

On the drawback side, it has lesser trading tools than what is expected from a trading platform at this level. But you can benefit from the educational services of USG UK related to trading psychology and technical analysis. If users have any queries while setting up their account, they can get in touch with the customer service team via live chat support, email or phone available 24 hours. These withdrawals are mainly fee-based with certain trading conditions applied. So, go through this review for a better understanding of the USGFX forex brokerage platform. Our company understands the dilemma of your company in order to take into account and the balance between overall profitability of the entire client group through the market and arrangement for client’s withdrawal.

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. USGFX provides a full suite of support services to enable clients worldwide to trade currency pairs, indices, and commodities in premium trading conditions. If is offering forex trading you should check to see if they are regulated as most forex brokers are scams.

It has boosted recently through a high-profile sponsorship with English Premier League team Sheffield United. 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 it also maintains client funds in segregated accounts. This Forex provider espouses the tenets of respect, trust, and transparency. As a leading Forex brokerage, this Sydney-based brokerage is regulated by two Australian authorities – AFSL with License # and ASIC . The servers are located in Hong Kong and New York to ensure that clients enjoy rapid executions of trades at all times.

Trading Terms

Our company also understands that your company cannot withdraw funds according to the client’s request due to the overall above situation. Therefore, both parties has agreed to collect statistics regarding client’s funds and hand over to your company to resolve client’s funds. USGFX offers a fair trading environment for all types of traders. USGFX warns all potential traders that Forex and CFDs trading always carries a high level of risk and may not be suitable for all investors. 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.

The rise of forex broking services in the forex market has opened doors for many forex brokers. Choosing one with reliable services and charges is a daunting task. USGFX offers access to trade currency pairs, indices and commodities on MetaTrader 4, 5 and Web Trader. In September 2020 Federal Court of Australia appointed Peter Krejci and Andrew Cummins as liquidators. 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. I also put in a withdrawal request to USGFX in September 2020 and have received nothing.

We are currently undergoing a regulatory transition hence the withdrawal time will be prolonged. Have had great customer service from USG Forex, and I would recommend as even the trading was without issues. 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 the withdrawals correctly USG is always bringing up excuses that is something wrong that everyone is doing aka excuses all the time. You should not trade with an unregulated company under any circumstances.

We sell different types of products and services to both investment professionals and individual investors. 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.

responses to USGFX

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. Withdrawal of funds exceeding the initial deposit amount within the first 180 days must be made via alternative withdrawal options. USGFX covers all deposit fees but withdrawals may be charged, for example, credit cards are eligible for a 3.5% fee and Skrill and Neteller 1.5%. USGFX provides ultra-fast Interbank connectivity through optical fiber connections to their servers in London and New York, resulting in a low-cost trading experience. USGFX is one of the best broker I have ever used, the customer service has quick response and withdraw is no problem as well. My account manager, Asher, went above and beyond to ensure that I would be able to change my bank for a successful withdrawal and also made sure that I wouldn’t be double charged the bank wire remittance fee.


62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether spectre trading platform 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.

Trading Platforms

The affiliation of Union Standard Group Pty Ltd to ASIC makes sure that the forex brokerage company has the transparency in its working. Made withdrawals request for more than 6 months and never get my money. 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. Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it.