USGFX Review

1.815 · 40 REVIEWS

Union Standard Group

Updated: Mar 31, 2021 · USGFX.com  · Is this your company?

USGFX is a forex broker. USG FX offers the MT4, MT5 and WebTrader forex trading top platform. USGFX.com offers over 40 forex currency pairs, cfds, commodities, indices, gold, silver, oil and bitcoin for your personal investment and trading options.

USGFX
2020-09-18:  ASIC has cancelled the license of Union Standard International Group, which operates USGFX.
2019-12-23:  ASIC has announced that it made an interim asset restraining order against Maxi EFX Global AU Pty Ltd (trading as EuropeFX) and BrightAU Capital Pty Ltd (trading as TradeFred), both of which are Corporate Authorised Representatives of Union Standard International Group Pty Ltd (trading as USGFX) (AFSL 302792).  CLICK HERE for more details. 

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $100
Established: 2007
Address: G03, 135 Macquarie Street, Sydney, NSW 2000, Australia
Contact: support.au@usgfx.com, +61 2 9251 1395
Regional offices:
Regulators: ASIC #AFSL-302792-CANCELLED, VFSC #41706
Prohibited countries:
Trading platforms: MT4, MT5, WebTrader
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (40+)
Cryptocurrencies: (1) Bitcoin
CFD: (10+) Gold, Silver, Stock Indexes, Oil
EAs/Robots: Yes
ZuluTrade: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, FasaPay, Local Bank Transfers, PerfectMoney, Poli, SticPay, UnionPay, VoguePay, WebMoney
Withdrawal Methods: Bank Wire, VISA, MasterCard, FasaPay, GPay, Local Bank Transfers, Neteller, PerfectMoney, Skrill, UPay, VoguePay, WebMoney

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USGFX.com profile provided by Joyce Shen, Apr 7, 2014


USG is a leading group, focusing on brokerage services. We provide many countries around the world, asset management companies and large investment institutions with our premium and the highest level of brokerage services.



USG has had both its high market share and clients’ profits grown since the company was established. We become looked up to as a role model in this field. USG always bears our clients’ best interest in mind. We highly regulate ourselves with quality management and information technology security. We have the most perfect and complete profit plan and partnership cooperation system. We dedicate ourselves to you with up-to-date creative strategies.


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1.815 · 40 REVIEWS
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Traders Reviews

Singapore, Singapore,
Mar 30, 2021,
Registered user

USG FX Global withdrawal delay.

Service use: Live

I have been having problem withdrawing 12KUSD from USG FX Global since 25 Jan 2021.Today is 30 March 2021.
Nobody replied my ref.check enquries.
Nobody answer my email send to client support.
Chat support giving standard reply still after more than 20 attempts.
They will tell you that bank withdrawal TT is currently not available and "do not know when it will be available" Only option is "wait"
They claimed the account manager will contact me, but trust me there is no such account manager at all.
PLEASE DO NOT DEPOSIT AND TRADE WITH USG FX GLOBAL, SCAM....
IF you need any screen shot or evidence, I can provide, thanks.
 
🇸🇬, Singapore,
Mar 28, 2021,
Registered user

Not able to withdraw funds for 3 months already

Service use: Live

Length of use: 3-6 Months

Not surprised to see many similar reviews that they are not able to withdraw their funds. I have tried to withdraw the funds since 4 Dec 2020 to date but it’s still under processing. In Feb 2021, I checked with the live chat agent tells me that bank wire is under maintenance, today I checked with live chat agent again and this round, the agent said that it is not available. Both are not able to say when it will finish maintenance or when it would be available. But this round the agent asked to check with clientsupport@usgfx.global. If the client support is still not able to provide any resolution, I will take note on the instructions to invite the company next.

Anyone looking into this broker, please don’t put any funds as you can’t withdraw it.
  1 trader has found this review helpful
Singapore, Singapore,
Mar 27, 2021,
Registered user

Unable to withdraw

Service use: Live

Length of use: over 1 Year

I encountered the same issues with the rest of the people here. Unable to withdraw. The option to wire disappeared and support is unable to do anything.

Same excuses about regulatory and zero support.

I have all the proof if you need.
 
London, United Kingdom,
Mar 18, 2021,
Registered user

SCAM BROKER

Service use: Live

Length of use: 3-6 Months

I try deposit there no GBP and i got pay fee likely £60 no reason. Seen look weirdo than normal broker i play. Then I try withdrawal payment maintain hold me 4 month. I request BTC wallet and nothing and fee charge like £113 without single trade I lose almost £200 for nothing, more or less this a scam and WORSE broker i know see trading career. Chat support they jut copy and paste chat.
 
Coventry, United Kingdom,
Mar 15, 2021,
Registered user

USGFX witholding funds

Service use: Live

Length of use: over 1 Year

I put a withdrawal request in with USG 8 months ago and have received nothing. They come out with the same nonsense excuses all the time. It is not just me, I know of numerous people who are in the same boat as me and are not getting their funds released. Avoid this broker they are an absolute disgrace.

More. Community discussion of this issue >>

 
Germany, Germany,
Mar 15, 2021,
Registered user

I'm waiting now since 07/13/2020 for a withdrawl of mote than 3400€.

Service use: Live

Length of use: over 1 Year

I'm waiting now since 07/13/2020 for a withdrawl of mote than 3400€.
"
The feedback of a support case is every month the same:
The department has processed the request and is waiting for the remittance.
Due to the current regulatory transition period, the withdrawal will be delayed.
Regarding the funds in the account, it belongs to your funds.
The department will continue to follow up for you and remit funds to your designated account as soon as possible.
Please give us some time to work. Thank you.
"
No account manager give me an answer. It seems always be a bot with standardized messages...

Regards
Christian

More. Community discussion of this issue >>

 
Singapore, Singapore,
Dec 16, 2020,
Registered user

Withdrawal for 3 weeks with no update, no email, no contact

Service use: Live

Length of use: 0-3 Months

Tried to do a simple withdrawal 3 weeks ago and there was no acknowledgement, no contact, no email, no information.

Contacted them a few times via Live Chat- the reply is all robotic. Copy and paste templates on sorry for the inconvenience, and how they will escalate the issue and account manager will call me.

I have been using 7 different forex brokers and this one is the worst i have ever used.
 
South Bohemia, Czech Republic,
Dec 14, 2020,
Registered user

Again, I have to change my opinion on this company. I made a final withdrawal of my balance of about 400 USD. Its been over a month and nothing happens. Seems like they are ready to go dark.

Nov 14, 2020 - 2 Stars After a little push they honored all my withdrawals. I added one star as I dont consider them a scam. Hope they can fix the withdrawal waiting times and communication with traders so they become a standard quality broker as they stand in the past.

Nov 9, 2020 - 1 Star They are ignoring my withdrawal request for 3 months with the same excuse:

"We are currently undergoing a regulatory transition hence the withdrawal time will be prolonged.
Your feedback is well received and we will notify your account manager to assist you as soon as possible. Thank you"

My top 1 explanation of why they cannot pay tiny 400 USD withdrawal for 3 months is that they are in deep s*** or (and) something very suspicious is going on here.

Suspicious (by my humble opinion) are also the 5 star reviews below from "fake or paid" gantlemans. They all registered only for posting a 5 star review for this broker on the same day. No other activity on FPA. One doesnt need to be a genius to count 1+1.

I recommend all traders to be very cautious here. Will update this review if there are any news.

More. Community discussion of this issue >>

  1 trader has found this review helpful
Cogolin, France,
Dec 8, 2020,
Registered user

No withdrawal for the last 5 months

Service use: Live

Length of use: over 1 Year

I am waiting for USGFX to honor my withdrawal requests for EUR 13,000+ from my account number 10043707 since july 2020. They did not sent the funds yet, nor sent me an email with explanations. I strongly advise NOT DEPOSITING WITH THIS BROKER until the withdrawals are made.
  1 trader has found this review helpful
Taiwan, Taiwan, China,
Oct 20, 2020,
Registered user

Service use: Live

Length of use: 6-12 Months

USGFX is one of the best broker I have ever used, the customer service has quick response and withdraw is no problem as well.

USGFX是我使用過的最好的經紀人之一,客戶服務具有快速響應,並且提款也沒有問題。
 

Frequently Asked Questions

What is USGFX?

USGFX is an Australian forex and CFD broker, founded in 2007.

USGFX offers access to trade currency pairs, indices and commodities on MetaTrader 4, 5 and Web Trader.

Is USGFX regulated?

USGFX is headquartered in Sydney, Australia.

USGFX is regulated by the Australian Securities and Investment Commission (ASIC) and holds an Australian Financial Services Licence (AFSL).

How can I open an account with USGFX?

How to open an account with USGFX?

1. Visit USGFX homepage
2. Click on “Open Live Account”
3. Follow the 3-step procedure
4. Submit your personal documents including
  • Front and back copies of effective identity documents with photos, e.g., passport or driver’s licence.
  • Effective proof of address dated in the last 3 months, e.g., utility bills, etc.
5. Deposit Funds by credit card, bank wire and e-wallets

How many types of live accounts does USGFX offer?

Currently, USG offers 3 types of live accounts:

  • Mini Account
  • Standard Account
  • Premium Account

What is the minimum deposit for USGFX?

The minimum deposit varies a bit depending on the account type.

  • Mini Account: the minimum deposit is $100
  • Standard Account: the minimum deposit is $10,000
  • Premium Account: the minimum deposit is $50,000