Investor Protection & Regulations
“USGFX is regulated by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services Licence, with client funds held in segregated accounts with the Commonwealth Bank of Australia.”
USGFX is authorised and regulated by the Australian Securities and Investments Commission (ASIC) as confirmed on the ASIC register below:
According to the broker’s website, USGFX offers further protection to clients by:
- Keeping client funds in a segregated bank account with the Commonwealth Bank of Australia.
These details are confirmed on their website, as shown below.
The broker does not accept clients from the United States, Japan or North Korea.
“USGFX offers clients the ability to trade on 62 asset classes across Forex, Metals, Energies and Indices. Currently, they do not offer any Stocks, soft Commodities or Cryptocurrencies.”
USGFX offers clients the ability to trade on 62 asset classes. This includes 46 Forex pairs and CFD trading on 12 Indices, 2 Energies and 2 Metals.
Below is a list of just some of the available markets for trading:
* Details regarding the available assets are taken from the USGFX website and trading platform and are correct at the time of this review.
Trading costs such as spreads and overnight funding (swap) rates vary depending on the instrument being traded and the account type. For example, the average spread for AUD.USD on and Mini Account is 3.2 pips, a Standard Account is 2.6 pips and a VIP/ECN Account is 1.8 pips, as advertised on the broker’s website.
“USGFX offers 4 types of trading accounts called Mini Account, Standard Account, VIP Account and Pro-ECN Account. The broker also offers the use of a demo trading account.”
Clients trading with USGFX are offered 4 different types of trading accounts which come with different features and benefits that are suitable for both beginner and advanced traders. The 4 accounts are called Mini Account, Standard Account, VIP Account and Pro-ECN Account. The broker also offers the use of a demo trading account.
USGFX Mini Account
The USGFX Mini Account offers the lowest deposit amount to open an account with this broker, at just $100. Spreads are higher than the other accounts starting from 2.8 pips. However, users can access 4 different leverage amounts at 1:100, 1:200, 1:400 and 1:500.
USGFX Standard Account
The USGFX Standard Account requires a much larger deposit to open, $10,000. Spreads start from 2.2 pips and users can access the same leverage amounts as a Mini Account. However, the Standard Account can be opened as a Joint Account and Corporate Account as well.
USGFX VIP Account
The USGFX VIP Account requires a minimum deposit of $50,000 and can be opened as an Individual, Joint or Corporate Account. Users can also access different leverage amounts as the Mini and Standard Account allow. However, for the VIP Account spreads start from just 1.3 pips.
USGFX Pro-ECN Account
The USGFX Pro-ECN Account also requires a minimum deposit of $50,000 and leverage is capped at 1:100. On the Pro-ECN Account spreads start from 1.5 pips.
To open a live account, users can simply click on the Open Account button which can be found on the broker’s homepage. This will then open up a new application page to open an account, as shown below:
Users are then asked to fill in their information which includes personal information and then information on the type of account a user wants to open, as shown below in step two:
Users are then asked more personal and financial information in steps three and four before confirming their account application in step five. Account applications take roughly four minutes. However, there are certain documents that are required before accounts are fully functional.
The documents required to open an account vary depending on what type of account is being opened: Individual, Joint or Corporate. These are listed below:
Deposit & Withdrawals options
“USGFX offers a variety of deposit and withdrawal options through Bank Wire Transfer, Visa and MasterCard, WebMoney, Perfect Money, Fasa Pay and many more. However, users need to check the terms and conditions carefully regarding fees.”
Clients wanting to deposit funds with USGFX can do so using a variety of methods, including instant transactions through the likes of Visa or MasterCard, WebMoney, Perfect Money, Fasa Pay and more. The full range of methods are listed below.
While the broker advertises fee-free deposits this isn’t necessarily the case. According to the broker’s statement however:
- Deposits made via UnionPay/SticPay/VoguePay OR for deposit amounts higher than 1,000 – the deposit fee will be waived when the client trades 3 lots.
- For a deposit made via any deposit method other than China UnionPay/SticPay/VoguePay and less than 1,000, the deposit fee will be waived when any trade is made in the account.
- However, if the above-mentioned trading requirement is not met upon withdrawal, clients will be charged with both the deposit fee and the withdrawal fee.
There are a variety of options to withdraw funds from USGFX. Most are fee-based and come with certain conditions. For example, any withdrawal amounts over 3,000 USD by e-wallet will incur an extra transaction fee of 3%. The withdrawal options and fees can be found below:
Web & Desktop Trading Platforms
“USGFX offers traders the ability to trade on the globally-recognised MetaTrader 4 and MetaTrader 5 trading platform for Windows, Mac and Web.”
Clients trading with USGFX are offered a variety of different trading platforms such as MetaTrader 4, MetaTrader 5 and MetaTrader Web Trader. Each platform offers different features that are suitable for both beginner and advanced traders.
The USGFX MetaTrader 5 Trading Platform
USGFX offers traders the ability to trade on the MetaTrader 5 trading platform for Windows, Mac and Web with the following features:
- Built-in MetaTrader Market, an online store for robots and technical indicators
- 80+ analytical tools
- 21 different timeframes
- Copy trading signals
- 24-hour support from a USGFX MT5 specialist
The USGFX MetaTrader 4 Trading Platform
USGFX offers traders the ability to trade on the MetaTrader 4 trading platform for Windows, Mac and Web with the following features:
- One-click execution
- Technical analysis indicators
- Automated trading with Expert Advisors
- Free to download
Users can also access the MetaTrader MT4 WebTrader platform and trade from directly from their browser.
Mobile Trading Platforms
“USGFX offers traders the ability to use the MetaTrader 4 and MetaTrader 5 Mobile Trading app for Android and iOS operating systems.”
Clients of USGFX are offered the ability to trade on the MetaTrader 4 and MetaTrader 5 Mobile Trading app for both Android and iOS operating systems. These can be downloaded directly from the Google Playstore or Apple’s App store with links provided on the broker’s website, as shown below:
Both of USGFX’s MetaTrader 4 and MetaTrader 5 mobile trading apps offer traders the ability to:
- Access multiple asset classes
- View live market prices in real-time
- Execute trades directly from the app
From the USGFX MetaTrader mobile trading app homepage users can access a variety of functions such as quotes, charts, a news feed, an economic calendar and more:
Traders can also access a variety of different markets as shown below:
“USGFX offers clients a variety of trading features such as the ability to access social trading and free access to Trading Central and Recognia services.”
Clients of USGFX have the ability to access a variety of trading features from the broker such as social trading and the resources from global research organisation Trading Central and Recognia.
The broker offers the ability to use ZuluTrade and myFXbook for social trading:
Clients can also access tools from Trading Central such as:
- Technical analysis reports emailed directly to your inbox twice a week.
- Online technical research through a customised web-application which updates technical levels and targets on different timeframes for Forex and Indices.
- Forex TV where users can tune in for live market commentary from the floor of the New York Stock Exchange.
- An MT4 plugin for the MetaTrader 4 platform so traders can receive up-to-date technical analysis and updates.
Clients can also access the features of Recognia, such as:
- The Featured Ideas Trading System which gives live intra-day trading ideas tailored to a trader’s preferences.
- Educational Commentary.
- Real-time tracking or price movement.
- Live and interactive charts for each Technical Event found.
Commissions & Spreads
“Trading costs with USGFX vary depending on the market being traded and the type of trading account opened. However, the costs largely come from a mixture of commission, spreads and overnight swaps.”
Trading costs with USGFX vary depending on the market being traded and the type of trading account opened. Spreads and swaps of individual markets also vary depending on which asset class it is. More details can be found below:
USGFX Forex Trading
The trading spread and swap rates for the Forex market with USGFX vary depending on which currency pair is being traded and which type of trading account is opened – a Mini, Standard or VIP/ECN Account, as detailed below:
Users can find more spread examples on the broker’s website. According to the broker’s statement, they operate floating spread policy meaning they are subject to change based on market conditions but that the broker reserves the right to amend or change trading spreads. The broker also states that there are no additional commissions to pay unless there is a written agreement between Agents and Clients.
USGFX Metals Trading
The trading spread and swap rates for the Metals offered by USGFX vary depending on which metal is being traded and which type of trading account is opened – a Mini, Standard or VIP/ECN Account, as detailed below:
According to the broker’s statement, spreads are subject to change based on market conditions. The broker also states that there are no additional commissions to pay unless there is a written agreement between Agents and Clients.
USGFX Indices Trading
Trading CFD Indices with USGFX does have additional commissions on top of the spread and swap rate. The spreads are based upon the futures price of the underlying index but can vary at the broker’s discretion according to their statement. The commission to trade CFD contracts can be found below:
The swap values of all markets can be found in the USGFX MetaTrader platform by selecting Specification on the market in question from the Market Watch window, as shown below:
Bonus & Promotions
“USGFX currently offers several different special promotions including a 50% Bonus Promotion, a $30 Welcome Bonus, Free Education for New Financial Year and more.”
Currently, USGFX offers several different special promotions which can be found on their website. It’s important to note that bonus and promotions do change over time. However, at the time of writing the broker is offering:
- South Sydney Rabbitohs Free Tickets Promotion
- Free Education for New Financial Year
- 50% Bonus Promotion
- 10% Welcome Bonus
- Deposit Bonus Up to 25%
- Welcome Bonus $30
These are confirmed on the broker’s website:
Each bonus and promotion comes with their own unique terms and conditions but the broker does offer detailed examples in how each one works. For example, the 50% Deposit Bonus provides a detailed explanation of how it is calculated and the Terms and Conditions of such promotion, listed on the broker’s website:
“USGFX offers 24 hours a day, 7 days a week customer support via Live Chat, Phone and Email in English and Chinese.”
USGFX offers 24 hours a day, 7 days a week customer support via Live Chat, Phone and Email in English and Chinese.
After clicking on the live chat icon to speak to an operator on a Thursday afternoon (UK time), a customer support agent was available in just a few seconds. My first question took quite a while to receive a response in which the question regarding the broker’s commission charges could not be answered and was referred to a manager, as shown below:
- Live Chat: (link can be found on the website)
- Address: G03, 135 Macquarie Street, Sydney, NSW 2000, Australia
- Phone (Toll-free): 1300822 355
- International Phone: +61 2 9251 1395
- Fax: + 61 2 6147 7151
- Australian Support Email: email@example.com
- International Support Email: firstname.lastname@example.org
“USGFX provides a variety of research tools for traders including access to Trading Central and Recognia services, as well as an Economic Calendar, FX Blog and Trading Alerts through the USGFX TradersClub Program.”
USGFX offers a variety of research tools for both beginner and advanced traders. For example, the broker offers an online Economic Calendar as shown below:
The broker also offers a variety of research tools in their USGFX TradersClub. This includes online technical research from Trading Central’s global research team, providing technical analysis on a variety of markets and timeframes.
Through the USGFX TradersClub traders can also access research and analysis from their own market analyst Rob Clayton, as shown below:
“The USGFX TradersClub provides an impressive educational product with detailed trading courses followed up by 1-on-1 coaching and training by Rob Clayton. Webinars and seminars are also featured in the TradersClub.”
The USGFX TradersClub provides an impressive range of trader education products such as a detailed FX Trading Course, a live class webinar every Thursday and personalised 1-on-1 coaching for VIP clients.
The syllabus for the USGFX TradersClub FX Trading Course can be found online and includes the following:
The broker also offers free weekly webinars every Tuesday designed for beginner traders. The webinar covers a range of topics such as Forex terminology, how to become a successful trader and how to use the MetaTrader trading platform among others, as shown below:
“USGFX provides a simple yet feature-rich trading experience through the USGFX TradersClub, access to Trading Central and Recognia services and personalised 1-on-1 coaching for VIP clients while allowing traders the ability to trade Forex ECN markets and CFDs on Indices and Commodities via the MetaTrader trading platform.”
From our observations, USGFX provides a simple, yet feature-rich trading experience with a relatively simple account opening process for both beginner and advanced traders. While traders can use the MetaTrader 4 and 5 trading platforms for PC, Mac, Web, iOS and Android some may find the 62 tradable markets on offer limiting.
However, the broker allows trading on a range of Forex ECN pairs, as well as CFDs on Indices and some Commodities, albeit the advertised spreads are higher than other brokers. Having said that, when logged into the USGFX trading platform the market spread was often lower than the advertised spread so the choice of the trading account to open is a process to be done wisely.
Advanced traders will enjoy the trading features offered by the broker such as access to Trading Central and Recognia trading services and all the benefits associated with the USGFX TradersClub. Both beginner and advanced traders may also enjoy some of the current bonuses and promotions on offer.
Is USGFX regulated?
Yes, USGFX is regulated by the Australian Securities and Investments Commission (ASIC).
Where is USGFX based?
USGFX registered address is G03, 135 Macquarie Street, Sydney, NSW 2000, Australia.
How does USGFX make money?
USGFX makes money through spreads, swaps and commissions on certain tradable asset classes.
How do I deposit in USGFX account?
Funds can be deposited into a trading account via Bank Wire Transfer, Visa and MasterCard, WebMoney, Perfect Money, Fasa Pay and many more.
What is the min. deposit for USGFX?
The minimum deposit is $100.
How do I withdraw money from USGFX?
Withdrawals can be made from USGFX Bank Wire Transfer, Visa and MasterCard, WebMoney, Perfect Money, Fasa Pay and many more.
What is the max leverage in USGFX?
The maximum leverage offered by USGFX is 1:500.
How do I open an account with USGFX?
An account can be opened at the click of a button on the USGFX website and can be done in just a few steps.
Does USGFX use MetaTrader?
Yes, USGFX offers both MetaTrader 4 and MetaTrader 5.
“USGFX is an ASIC regulated broker offering to trade on 62 different tradable asset classes across Forex ECN and CFD trading on Indices and Commodities on the MetaTrader 4 and MetaTrader 5 trading platforms for PC, Mac, Web, iOS and Android operating systems.”
USGFX is regulated by the Australian Securities and Investments Commission (ASIC) and holds an Australian Financial Services Licence under the name Union Standard International Group Pty Ltd
The broker offers trading on 62 different tradable asset classes across Forex ECN and CFDs on Indices and Commodities covering Metals and Oil. From our observations the broker does not offer Stocks or Cryptocurrencies at this moment in time. Traders can use the MetaTrader 4 and MetaTrader 5trading platform for PC, Mac, Web, iOS and Android operating systems.
Users can choose from 4 different types of trading accounts called Mini Account, Standard Account, VIP Account and Pro-ECN Account. The lowest amount of fund an account is $100 with the Mini Account and the highest is $50,000 for the VIP and Pro-ECN Account.
The broker also offers useful research and educational tools through the USGFX TradersClub. These include live weekly webinars and seminars, trading courses and access to Trading Central and Recognia services.
- Regulated by ASIC.
- 62 tradable assets across Forex ECN and CFDs on Indices, Metals and Oil.
- High leverage of 500:1 available.
- Access to Trading Central and Recognia services.
- Research and educational tools provided in the USGFX TradersClub.