USGFX – Is it scam or safe?


USGFX – Is it scam or safe?

USGFX is the trading name of the Australian forex and CFD broker Union Standard International Group Pty Ltd that is licensed and regulated by the Australian Securities and Investment Commission (ASIC). The ASIC license allows it to conduct financial services, including forex.

However, there are some publications in forex forums that inform about bad practices related to intentional spread-widening, poor customer support and rejecting profits considering them as scalping.

So far, we haven’t received any complaints from clients of

If you feel frustrated by and have something to share with us, please fill in the form below, describing your case:

15 Complains

  1. I have been trading with USGFX through one of their introducing brokers for some time but recently they cancelled contracts of clients with this IB. They didn’t give any reason and I couldn’t understand why they did this. Beware of USGFX. They may do this to you too!

  2. We have traded for a Chinese client through EA with USGFX. We started trading with USD10k in December 2016. At the end of December, we noticed a huge widening of spread of EUR/AUD and it became more than 1,800 pips. Yes, we published a screenshot in Linkedin. Following this there were other similar cases with widening spreads on pairs EURAUD, NZD/CAD and EUR/NZD. These spreads led to a huge loss of our client. Of course, our EA were blamed for these cases. But we can proof our EA work well with all other deals. Unfortunately, our attempts to speak with USGFX had no success. Their manager claimed their CEO didn’t talk to anybody….This makes us assume they are scammers. They apply these scamming practices that every scam broker does. Stay away!

  3. They send me spam emails nonstop and there was no option to unsubscribe. I wrote them to stop sending mi their shit but they ignored my request and kept sending spamming scam. Besides, I could tell you their spreads are one of the highest in the industry.

  4. I opened my account with USGFX last July and although they don’t have the tightest spreads, I like their training program. It has helped me to build the ground of my strategy.

  5. I have an account with USGFX but they cancelled all my profit. I deposited USD1700 and I made it nearly USD13,000. Then I tried to withdraw my profit but USGFX blocked my account. The announced I had been made my profit by scalping. They stated their rules (scalping is when one position is opened and closed within 180 seconds) and my account was reset to the initial sum. I should tell you that all deals closed within these 180 seconds were losing ones. Moreover, 75% of them are closed by stop-loss order. They are scammers. They stole my real profit. Do not deal with them! It was a huge mistake I involved with them. Stay away!

  6. I am a 72 year old, handicapped widow.

    All of my life savings were scammed by a company called TRADEFRED, who had originally been given their trading licence by UFGSX. As a result, I will be homeless by the end of this month. I have less than 1,000 euros to my name.

    I have written to – and called – UFGSX on many occasions, asking them for assistance in revealing the names (and contact details) of the scammers who defrauded me of life savings, whilst they were working for TRADEFRED.

    As yet I have heard nothing back from UFGSX. I feel ignored and utterly unsupported, and I have no idea what I can do to resolve this matter.

    Can Forex Complains please help me?
    Maureen Saunders

  7. I also fell a victim to this scam broker. They kept on asking me to deposit more money. Then they stopped picking up my calls and doesn’t reply my mails. After loosing more money. Finally I have gotten back all my lost fund and bonus from CFD stocks. They stocked all my trading capital and deprived me access into my account for over two months now after I’ve invested $70, 000 with them. Thought I was not gonna see this day, but as God may have it, today I’ve got back all my money  for real with the help of professional. Lesson learnt! I’m happy to share my experience.

    If you’ve been locked out from logging into your binary option trading account or you are unable to make withdrawal from your broker account, maybe because your broker manager is asking you to make more deposit before you can place a withdrawal and you need my assistance, kindly get in contact with me via my email address:[email protected], and I will guide you on steps to take to regain access to your account, make withdrawal freely and easy, as well as recover all your lost funds in reality.

  8. Please be careful on who and where you choose to trade , 85% of brokers and Account managers are scammers. I was a victim, I lost my capital after making a huge deposit they declined all my withdrawal request after some weeks.I knw a lot of traders and those who invest their money are facing same issue but I want to share with you the right step to take and get all your money including your profit.
    After I was refused withdrawal of my fund I was frustrated and confused not knowing what to do until I was directed to Mr Harrow I filed my complaint to him and he requested for some details of my account, the name of the broker and the total amount I lost .
    I forwarded all the details required to him and that was how I was able to recover my fund , the steps are simple and flexible . Please I want to ask advice everyone who’s having difficulties in withdrawal or accessing your account , please am giving out his email kindly contact Mr Harrow Madsen with his email below he will help you get back your money.
    harrowmadsen@gmail. com

  9. This is an update of KayaFx Philipp Schmidt Scam Broker!
    In March, invested my savings 29.000eur, I had a profit of more than 89.000€. I sent 4 withdrawal requests to Kayafx: 5.000 Euros, 12.000 Euros, 15.000 Euros, 9.804Euros.But my Broker Philipp Schmidt blocked my account, I did not get a cent. Instead Philipp closed my account. He placed trades, although I had told him, not to place any trades. Last month I showed my trading history to a Broker in my neighbourhood. His investigation had a surprising result: All trades that had in my account did not exist. That meant, Philipp had invented the trades to make my money disappear . I think he put the 15.000 € in his own pocket. And my invested money? luckily i was introduced to funds recovery agent Mr Reynolds Perry, and God so i kind he was able to work relentlessly with his to help me recover my investment back from the scam broker. i promised to recommend his funds recovery strategy to anyone having withdrawal problem with his/her binay, forex and bitcoin an trading brokerfeel free to reach out to him via his email address: [email protected] and he will guide you on further information to claim your money back from this heartless scammers!

  10. USFGX is a scam company.Consult with capitalrefunds,org for a free consultation on how your funds can be recovered from them.Stay away from them.I find it hard people can con naive individuals of their hard earned money.


  11. Please stay away from this company as much as possible. I have Been trading with them for 5 years and I can say I lost a lot with them. The account manager assigned to me was constantly manipulating me and advising me to make bad trade choices so I lose money only for me to find out that my losses were beneficial to my account manager and the company. I still didn’t mind then until they finally closed my account and restricted me from withdrawals after I made a very huge deposit. It was really devasting and heartless losing all my fortune to this company during this pandemic. I couldn’t bear the loss so I had to search for a way to get my money back at least something. So stumbled upon this expert at (Fightingscams at AOL dot com) who assisted me in sorting my ordeals with this broker. I expose these brokers as much as I can so I can help other victims or intending victims out there.

  12. USGFx is a scam company.I lost $100K dealing with them.It left me devastated because I actually borrowed money to recover funds from them.I was lucky betarefund, com helped recover all my funds.
    Do not trust USGFx with your money.There are lots of negative reviews of them online.


Please enter your Complaint!
Please enter your name here