USGFX Review 2018

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USGFXReview

USGFX Review

Established in 2005, USGFX is a leading international Forex and Contract for Differences (CFDs) broker that is based in Australia. Their head office is located at G03, 135 Macquarie Street in Sydney, Australia. USGFX specializes in offering its clients online trading services for financial instruments such as currency pairs, commodities, and market indices in a safe and secure environment. The broker also provides its traders a comprehensive range of support services in order to help them prosper in their online trading activities. This is largely due to the fact that USGFX believes in building long-term relationships with its clients. Hence, it is not surprising to find USGFX operates with transparency with an emphasis on building trust with its clients.

USGFX Video Review

Regulations

As a financial services provider that is based in Australia, USGFX comes under the jurisdiction of the Australian Securities and Investment Commission (ASIC). USGFX currently operates under an Australian Financial Services Licence (AFSL) number 302792. Because of the fact that USGFX is ASIC regulated, clients of USGFX can be confident that the broker is operating under strict regulatory guidelines. In other words, they can rest assured that their money will be safe with this broker. USGFX is also regulated by the Financial Conduct Authority (FCA) UK.

Reliability

Since USGFX first began operations more than a decade ago, the broker has earned a reputation of being a reliable one. Traders need to have no trust issues with this broker as it is regulated by ASIC. In addition, all the clients’ funds are kept in a segregated account within the Commonwealth Bank of Australia. The broker offers ultra-fast trade execution with low slippage and competitive spreads. Other benefits which USGFX is able to offer its traders are fast withdrawal approval and negative balance protection.

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Trading Platforms

In keeping with their philosophy offering their traders reliable trading services, USGFX only provide their traders with reliable and efficient trading platforms such as the MetaTrader trading platforms. Developed by MetaQuote Software, USGFX has made available both the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. The MT4 platform is the most widely adopted online trading platform in the online trading industry. It is popular among traders due to the comprehensive range of trading tools integrated into the platform.

For example, the MT4 comes with a comprehensive charting package with the ability to support several time frames. In addition, there is a large library of technical indicators with traders can use to overlay their trading charts. Apart from the MT4 trading platform, traders at USGFX can also opt for the more updated MT5 trading platform. Like its predecessor, the MT5 comes with a wide array of tools but geared towards supporting trading for a wider selection of instruments.

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For beginner traders, USGFX has also made provisions for this group of traders by making the ZuluTrade and Myfxbook social trading platforms for them to access. With the social trading platforms, beginner traders can shorten their learning curve by following the trading examples of their more experienced traders.

USGFX Mobile Trading

Apart for the web-based and desktop versions of the MetaTrader trading platforms, you can also access the mobile versions of the MT trading platforms by downloading the apps from either Google PlayStore or Apple App Store. Once installed, these mobile apps will enable you to trade the markets directly from your smartphone or tablet.

Trade Types/Instruments

In terms of trade types, USGFX offers spot currency trading and CFDs trading on a wide selection of financial assets such as indices and commodities. Altogether, there are 45 currency pairs, 11 market indices, 2 types of commodities, 2 types of metals and one cryptocurrency to choose from.

Account Types 

For trading account types, there are 4 different types, Mini account, Standard account, VIP account, and ECN account.

Mini Account

  • Minimum deposit of $100
  • Leverage up to 1:500

Standard Account

  • Minimum deposit of $10,000
  • Leverage up to 1:500

VIP Account

  • Minimum deposit of $50,000
  • Leverage up to 1:500

ECN Account

  • Minimum deposit of $50,000
  • Leverage up to 1:100

Commissions & Spreads

For trades where commission charges are applicable, USGFX charges a commission of $10 for each trade but $0 commission for FX and Metal. As for the spreads, the minimum spread is as low as 1.3 pips. The following table below shows the ECN spreads for the frequently traded currency pairs on USGFX trading platform.

Instrument Spreads (in pips)
Gold 4
Silver 4
EUR/USD 1.3
EUR/GBP 1.8
EUR/JPY 1.8
USD/CAD 2.9
USD/JPY 1.4
USD/CHF 1.9
GBP/JPY 2.9
GBP/USD 1.6

Deposits & Withdrawals Options

In order to facilitate the transfer of funds, USGFX has provided a dozen different ways for its clients to transfer their funds. They can deposit their funds using bank wire transfer, credit card transfer or through eWallet.  For withdrawals, they are initiated through the same method that was used initially for making a deposit. For example, if the initial deposit of funds was done through a bank wire transfer, then the withdrawal must be done through bank wire transfer as well. Withdrawals at USGFX are quite fast as the withdrawal request is usually processed within 24 to 48 hours.

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Bonus & Promotions

In terms of bonuses and promotions, USGFX does offer attractive prizes for the regular promotional offers. For example for June 2018, new account holders can receive up to a maximum of $3000 in bonuses.

Customer Support

For customer support, traders can reach out to the support team through fax, email, live chat or the telephone.

Pros and Cons

Pros

  • 24-hour support
  • Comprehensive forex education course
  • Educational Trading Academy Section
  • Fast Withdrawals
  • Free access to Trading Central’s analysis
  • High Leverage of 1:500
  • Negative Balance Protection
  • Personal Account Manager

Cons

  • Limited range of trading assets

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USGFX Q&A

  • Is USGFX regulated?

Yes, USGFX is regulated by the Australian Securities and Investment Commission (ASIC).

  • Where is USGFX based?

USGFX is based in Australia. Their head office is located at G03, 135 Macquarie Street in Sydney, Australia.

  • How does USGFX make money?

USGFX makes its money by charging traders a mix of commission and spreads on the trades that are executed on the broker’s trading platform.

  • How do I deposit in USGFX account?

To deposit your funds into a USGFX account, you can do it by bank wire transfer, credit card transfer or through eWallets.

  • How do I withdraw money from USGFX?

Withdrawals of funds are initiated through the same methods used for the initial deposit of funds.

  • How do I open an account with USGFX?

To open a trading account with USGFX, you need to fill up the registration form and submit it with all the required documents.

  • Is USGFX reliable?

Yes, USGFX is a reliable broker. It has won numerous awards bearing testimonials to its reliability.

  • Does USGFX use MetaTrader?

Yes. USGFX uses both the MetaTrader 4 and MetaTrader  5 trading platform.

  • What is USGFX leverage?

The maximum leverage offered by USGFX is 1:500.

  • Is USGFX a scam? 

No, USGFX is not a scam. The broker has been operational since 2005.

  • How safe is USGFX?

USGFX is a safe broker as it is tightly regulated by ASIC.

Conclusion

There is no doubt that USGFX is currently one of the leading forex and CFDs broker’s in the southern hemisphere. If you are looking for a reputable and reliable broker, then USGFX will be able to satisfy those criteria. The fact that USGFX is ASIC regulated ensures that you never have to worry about the safety of your funds. The spreads and promotional offers are also competitive and attractive hence making giving you more bang for your money.  In other words, USGFX is worth trying out if you are looking for a broker to trade the markets with.

USGFXOverview

Company Information

Broker DetailsInfo
Regulated byASIC
Headquarters CountryAustralia
Foundation Year2005
Publicly TradedNo
Number Of Employees100

Deposit Options

Credit Card, FasaPay, Neteller, PerfectMoney, Skrill, Union Pay, Webmoney, Wire Transfer

Withdrawal Options

Credit Card, FasaPay, Neteller, PerfectMoney, Skrill, Union Pay, Webmoney, Wire Transfer

Contact Information

Trading Account Options

Account TypeInfo
Min. Deposit$100
Max. Leverage1:500
Mini AccountYes
Demo AccountYes
Premium AccountYes
Islamic AccountYes

USGFX Trading Features

Suitable For

Trader LevelYes/No
BeginnersYes
ProfessionalsYes
Day TradingYes
Weekly TradingYes
Swing TradingYes
Social TradingYes

Customer Service

TimeYes/No
24 Hours SupportYes
Support During WeekendsYes

Customer Support Languages

Chinese, English

Trading Services

ServiceInfo
Supported Trading PlatformsMT4, MT5
Educational ServiceYes
SignalYes
OCO OrdersYes
Trailing SP/TPYes
Automated TradingYes
Has VPS ServicesYes
Cryptocurrency CoinsYes

Supported Instruments

Instrument TypeYes/No
CurrenciesYes
CommoditiesYes
CFDsYes
IndicesYes
ETFsNo
StocksNo
BondsNo
CryptocurrenciesYes

USGFXUser Reviews

Rate this broker
  • 5.0
    Account Management
    Kyle
  • 5.0
    excellent account manager
    Stephanie
  • 5.0
    Great customer support
    Roger
  • 4.0
    Customer Support 24 hours a day
    Lon
  • 5.0
    Very High Leverage at 1:500
    William
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