USGFX – Is it scam or safe?

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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 USGFX.com.

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

8 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.

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