USGFX Review

1.822 • 45 REVIEWS
Out of business Union Standard Group
Updated: Sep 20, 2022

USGFX broker is getting liquidated. Australian Securities and Investments Commission (“ASIC”) has pursued an investigation and legal proceedings against the Company since late 2019. 

In September 2020 Federal Court of Australia appointed Peter Krejci and Andrew Cummins as liquidators.  USFG (Union Standard Group International Holdings Limited) 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.

If you are owned funds from USFG you may be entitled to the claim in liquidation, please contact appointed liquidators with further inquiries.

USGFX is in liquidation.

If you are owed any funds by the company, CLICK HERE to visit the liquidator's website.
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. 
Other websites of this company include USGForex.com.

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

Trading Instruments

Currencies: (40+)
Cryptocurrencies: (1) Bitcoin
CFD: (10+) Gold, Silver, Stock Indexes, Oil

Trading Conditions

EAs/Robots: ✅ Yes

Managed Accounts & Social Trading

ZuluTrade: ✅ Yes
Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, FasaPay, Local Bank Transfers, PerfectMoney, Poli, SticPay, UnionPay, VoguePay, WebMoney
Withdrawal Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, FasaPay, GPay, Local Bank Transfers, Neteller, PerfectMoney, Skrill, UPay, VoguePay, WebMoney
* Please check broker website for more information
1.822 • 45 REVIEWS

Recent User Reviews of USGFX

K
KM
France, France,
Dec 21, 2021,
Guest

Related to USG and Libronicfx

Service use: Other
Don't be scammed by the USG and Libronic because they are tight together day and night like a couple to deceive investor's hard earn money. There are many other forex trading firms are doing similar scheme. Be alert!!!!
I had tried to contact the FCA(Financial Control Agency or...) in UK and claimed by FCA that they did not know the USG and is not regulated by them????????
C
clnetsoh
Selangor, Malaysia,
Sep 28, 2021,
Registered user

USGFX Scam

Service use: Live Length of use: over 1 Year
I was actually join the fund manager (libronicfx) https://libronicfx.com/, when the time i join they are actually at a different broker, after that end of 2020 they migrate to broker USGfx. until now about 10 month past, all the money have been stuck at USGFX. account have been disable. We only get the replies from libronicfx they are still in the mist of getting all the money out (USD 40million). are they(USG) have the right just to take all the money without given any consent.

Official Announcement from USG FX
Dear Libronic FX Partner,

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. Our side fully understands that your company is operating tens of thousands of sub-account transaction, operating a large number of withdrawals from clients is not an easy task especially under the rapidly changing conditions of trading market which may cause uneven allocation problems, which leads to uneven profit and loss due to price fluctuations. 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.

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. 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.

However, due to above considerations and arrangements may greatly affect the reputation of our company and cause misunderstandings among clients. Therefore we request your company cooperation to issue an official document to explain the PAMM Recovery plan to collect statistics on your company’s client’s funds and notarize it by a legal firm, then our company will cooperate jointly to resolve client’s problems in order to achieve friendly cooperation between both parties.
P
Peter
Athens, Greece,
Jun 14, 2021,
Guest

Same bad experiences with USGFX

Service use: Live Length of use: over 1 Year
I want to share the same expereice with USGFX. Since December 2020 I am waiting for my money and they say always the same things avoinding to say the trouth or to give a clear answer. They said that my client manager will contact me but nobody did.
Is someone that he knows a laywer who could do something to help us?
Y
Y
Penang, Malaysia,
May 4, 2021,
Guest

Scammer

Service use: Other Length of use: 3-6 Months
Made withdrawals request for more than 6 months and never get my money. Customer support gave standard replies. No action taken. Do not use USG account.
K
KH8006
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.

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