USGFX-Global - withdrawal request being ignored for 6 months

[DamienTJS]

Hi, I put in a withdrawal request to USGFX in September 2020 and have received nothing.
They continue with their rhetoric of 'a regulatory change' but this is a ridiculous excuse.
Has anyone else had their funds locked down and what can be done?

 

[davtrent55]

Report them to their regulator

 

[FxMaster]

Can you share the email you have received from them about the withdrawal?

I too have been waiting 8 months since my withdrawal request from USG and have received nothing. Can anyone help or advise what to do next?

 

[DamienTJS]

I dont have an email from them, it was done on their live chat.

 

[DamienTJS]

This is one email I received -
Dear Client,
We have received your withdrawal requests. When USGFX entered into administration procedure, as an offshore entity, USGVU had decided to continue to provide services and welcome clients who were under USGFX to join USGVU and be under our regulation. However, clients funds are still held in the commonwealth banks trust account under USGFX. In respect to the independent investigation going on in Australia, unfortunately, we do not hold any legal right of intervening the administration conduct including the funds that is temporarily been secured by the Australian authority, and that we as USGVU completely respects every procedure taken by the Australian authority. We will continue to arrange each client into the program we established in response to the funds requests in date order using profit from USGVU so clients do not need to wait until the administration procedure in Australia is finalized, we are limited each day to the incoming profit. We will soon have a link which you can use to check where you are in the waiting list, to give you an idea of when you will get your funds back. Once the administration procedure is completed, everyone will have their withdrawals given by the Australian regulation straight away, until that time we will continue to push the withdrawals out each day. Understanding clients funds safety is our main priority and every client will be in this funds return programme list. We appreciate your patience.
Kind Regards

 

[The Punisher]

This is one email I received -
Dear Client,
We have received your withdrawal requests. When USGFX entered into administration procedure, as an offshore entity, USGVU had decided to continue to provide services and welcome clients who were under USGFX to join USGVU and be under our regulation. However, clients funds are still held in the commonwealth banks trust account under USGFX. In respect to the independent investigation going on in Australia, unfortunately, we do not hold any legal right of intervening the administration conduct including the funds that is temporarily been secured by the Australian authority, and that we as USGVU completely respects every procedure taken by the Australian authority. We will continue to arrange each client into the program we established in response to the funds requests in date order using profit from USGVU so clients do not need to wait until the administration procedure in Australia is finalized, we are limited each day to the incoming profit. We will soon have a link which you can use to check where you are in the waiting list, to give you an idea of when you will get your funds back. Once the administration procedure is completed, everyone will have their withdrawals given by the Australian regulation straight away, until that time we will continue to push the withdrawals out each day. Understanding clients funds safety is our main priority and every client will be in this funds return programme list. We appreciate your patience.
Kind Regards

Start documenting everything immediately (screenshots of websites, trade history, account statements, any/all communication, etc.). This sounds like they are getting ready to close the site and run.

 

[FxMaster]

This is one email I received -
Dear Client,
We have received your withdrawal requests. When USGFX entered into administration procedure, as an offshore entity, USGVU had decided to continue to provide services and welcome clients who were under USGFX to join USGVU and be under our regulation. However, clients funds are still held in the commonwealth banks trust account under USGFX. In respect to the independent investigation going on in Australia, unfortunately, we do not hold any legal right of intervening the administration conduct including the funds that is temporarily been secured by the Australian authority, and that we as USGVU completely respects every procedure taken by the Australian authority. We will continue to arrange each client into the program we established in response to the funds requests in date order using profit from USGVU so clients do not need to wait until the administration procedure in Australia is finalized, we are limited each day to the incoming profit. We will soon have a link which you can use to check where you are in the waiting list, to give you an idea of when you will get your funds back. Once the administration procedure is completed, everyone will have their withdrawals given by the Australian regulation straight away, until that time we will continue to push the withdrawals out each day. Understanding clients funds safety is our main priority and every client will be in this funds return programme list. We appreciate your patience.
Kind Regards

Let's start with adding your story as a review here https://www.forexpeacearmy.com/forex-reviews/10818/usgfx-forex-brokers and then follow the below suggestions.

First of all, invite the company by using the invite company option to your thread. And if you are unable to locate the option then this thread "Tutorial: How to Invite a company to your thread." will help you to find out.

Note: Invitation button will be enabled when your first post reaches 4 days old.
Note 2: Make sure to share your account number (Only account number). Many time this help companies to find out you are genuine or not.
Note 3: Make sure to follow the suggestions correctly, when you do it correctly you will get below message in your thread automatically.

 

[ChrisO21]

This is one email I received -
Dear Client,
We have received your withdrawal requests. When USGFX entered into administration procedure, as an offshore entity, USGVU had decided to continue to provide services and welcome clients who were under USGFX to join USGVU and be under our regulation. However, clients funds are still held in the commonwealth banks trust account under USGFX. In respect to the independent investigation going on in Australia, unfortunately, we do not hold any legal right of intervening the administration conduct including the funds that is temporarily been secured by the Australian authority, and that we as USGVU completely respects every procedure taken by the Australian authority. We will continue to arrange each client into the program we established in response to the funds requests in date order using profit from USGVU so clients do not need to wait until the administration procedure in Australia is finalized, we are limited each day to the incoming profit. We will soon have a link which you can use to check where you are in the waiting list, to give you an idea of when you will get your funds back. Once the administration procedure is completed, everyone will have their withdrawals given by the Australian regulation straight away, until that time we will continue to push the withdrawals out each day. Understanding clients funds safety is our main priority and every client will be in this funds return programme list. We appreciate your patience.
Kind Regards

Hi Damian, I got the same Email many weeks / month ago....
Regards

 

[danialdave43]

do not trust these people with your money. I invested over € 28,000 with this company and when I asked for a withdrawal during the pandemic they asked me to put in more money. Like why would I put in more money when they wouldn't let me make a withdrawal? I told them I wanted my money back and they kept giving me excuses until they finally stopped picking my calls or responding to my emails. I told a friend everything and he recommended a fintech expert (financialscamyouagain.scum) and I messaged them and I can say that I am impressed. They handled my case so well and got my money back. I highly recommend them to anyone who has same issues.

Spam Cat thinks you are nothing but a lying thief. Spam Cat will now eat you.

 

[DamienTJS]

The OP has invited the company to this discussion on Mar 22, 2021 at 11:21 PM