USGFX Review
What is USGFX?
USGFX, an Australian-based brokerage company, operates with transparency and respect for their clients' values and principles. USGFX offers Forex and CFD trading solutions to trade currency pairs, commodities, and indices.
The company's trading process is technology-driven. They use optical fiber connections to connect to their servers in New York and London, which provide Interbank connectivity at lightning fast speeds. Numerous liquidity providers provide access to the most extensive liquidity pools, allowing traders to trade at relatively low spreads and costs.
Broker: USGFX
Minimum deposit: 100 US$
Leverage: 1:500
Regulator: ASIC
Year: 2005
Platforms: MT4, MT5, WebTrader
HQ: Australia
USGFX Licences
Union Standard International Group Pty Ltd - authorized by ASIC (Australia) registration ACN 79 117 658 349 AFSL 302792 suspended
Overview
It is an Australian forex broking company, affiliated with the Australian Securities & Investment Commission (ASIC). Union Standard International Group (USG UK) is also regulated by the Financial Conduct Authority (FCA) of the United Kingdom with FRN 798776. USG UK mainly deals in Forex and CFD trading solutions and helps clients achieve their investment objectives. The trading assistance is mainly for financial instruments like currency trading, indices, and commodities.
Pros
Union Standard International Group Pty Ltd is ASIC approved
MetaTrader 4 platform
Access to web traders
Multiple convenient withdrawal and deposit options
Web portal available in multiple languages
Cons
Higher advertise spread
Stock Commodities not available
Spread is higher than the average market
Rating of the company overall
Reliability ⭐⭐⭐⭐⭐
Platform ⭐⭐⭐⭐⭐
Commissions ⭐⭐⭐⭐
Support ⭐⭐⭐⭐⭐
Financial instruments ⭐⭐⭐⭐⭐
RATING: 4.7
Education
A broker also understands the importance of education and market knowledge. USGFX created its own project TradersClub. The TradercClub offers extensive education programs to traders at all levels. It includes materials, market analysis and risk management, as well as regular contests, seminars, and much more.
Awards
Over the years, the broker has gained trust from global traders and the support of social events. In addition, they have received multiple awards that recognize their excellence in the industry.
Is Usgfx Regulated?
Union Standard Group uses the trading name USGFX. It is a regulated forex exchange and CFD brokerage. Authorized by the Australian Securities and Investment Commission, (ASIC), and has an Australian Financial Services Licence.
The following of the guidelines and reputable licensing is something you should check when choosing a broker. To put it simply, strict regulation is necessary to ensure clients' funds are protected, and to allow for healthy competition and a transparent environment. This is not the case with non-regulated brokers.
USGFX provides security according to regulation. USGFX also implements Negative Balance Protection that gives a considante peace-of-mind while losses do not exceed the account balance.
Trade Platforms
Let's now see which trading platforms and software USGFX uses. Well broker selected reliable trading platforms MetaTrader4 and MetaTrader5 that are compatible with technological solutions and offer endless possibilities.
Desktop trading
MT4 and MT5 offer different platforms but both provide powerful trading experiences. MT4 is most popular platform while MT5 has more advanced features. Both platforms can be used on various devices. WebTrader platform allows for access from any device . Multiterminal is also available.
Research
USGFX also partners with Trading Central, a leader in research data, providing market news and technical analysis. This is due to their years of experience working with top institutions. You can also use Recognia trading system that allows you to trade intra-day using ideas that are tailored to your trading skills.
Last but not least, a social trading opportunity allows traders who don't have the time or desire to keep up with the markets. Simply follow one of these professional traders strategies. These options are available at USGFX through the two most popular social trading platforms, ZuluTrade or MyFXbook.
Accounts
USGFX has created four account types. Each one is different and each trader will need to choose from Mini Account, Standard Account and Pro-ECN Accounts for professionals.
The company offers a Demo account that allows you to trade or test your strategies. This is a great way to get started.
Fees
USGFX spreads are different depending on the account type. Refer to the table below to see an example spread. rollover and overnight fee are additional costs that can be added to positions. These charges are for overnight positions on EUR/USD pairs. You can also compare fees with another Australian broker FP Markets.
Leverage
You can trade with USGFX and have the flexibility to choose from a range of leverages, including 1:20 to 1:1500. This is high leverage. The leverage tool is indeed a powerful feature that can magnify your potential gains. However, you need to be careful how to use it wisely to avoid the opposite effect.
USGFX, an Australian ASIC-regulated broker, follows its guidelines. It still allows retail traders high leverages, which could be a significant advance in your trading strategy.
Deposits and withdrawals
You have the option to deposit or withdraw funds from your trading account using one of the many payment options available.
Bank Wire Transfers.
Debit or Credit Card payments,
WebMoney,
MoneyPolo,
Perfect Money,
fasapay,
Skrill and Neteller
Online banking servicesin Thailand Malaysia Indonesia Vietnam and MoneyNetint.
Withdrawal fee
USGFX also covers all depositswhile withdrawals may be subject to fees such as credit cards that are eligible for a 3.5% fee, Skrill, or Neteller method which will add 1.5%.
Minimum deposit
You can trade with a minimum of 100$ to access the USGFX Mini account, which is the minimum deposit. Higher rate accounts require different conditions and can be viewed above.
Conclusion
The USGFX Review concluded that the broker is a trusted partner for trading. There are endless options for traders and strategies thanks to the technological execution base. The broker also developed an advanced account proposal that could be used under a range of trading sizes and start capitals.
The spread is however too large. With FP Markets, an ASIC-regulated Australian forex broker, you can trade in a better trading environment.
We would love to hear your opinion on USGFX. Please comment below or contact us with any questions.
USGFX News
USGFX has been in liquidation since September'20. We recommend doing your own research to see if there are active proposals from USGFX.