Overall Rating: ★★☆☆☆ (2.6/5.0)

USGFX, short for Union Standard Group Forex, is a forex and CFD broker that previously held licences with ASIC in Australia and FCA in the UK but has since shifted its operations offshore following regulatory complications. Today, USGFX operates under entities in Vanuatu and St. Vincent and the Grenadines, offering trading in forex, indices, commodities, metals, and cryptocurrencies via MetaTrader 4 and MetaTrader 5. Despite offering multi-platform support, ECN pricing, and high leverage, serious concerns around regulatory history, client fund safety, and transparency make it a high-risk choice in 2025.

This review examines USGFX’s trading conditions, regulatory standing, platform features, and whether it can be trusted by retail traders.

Key Features

USGFX focuses on providing a feature-rich MetaTrader environment with high leverage and support for automated trading strategies.

• Trading Platforms:
  • MetaTrader 4 (MT4)
  • MetaTrader 5 (MT5)
  • WebTrader and mobile platforms supported
• Markets Offered:
  • Forex, indices, commodities, metals, crypto CFDs
  • Over 300 instruments
• Account Types:
  • Mini, Standard, VIP, and Pro ECN accounts
• Leverage:
  • Up to 1:500 for international clients
• Minimum Deposit:
  • From $100
• Funding Methods:
  • Credit/debit cards, bank wire, Skrill, Neteller, crypto

Regulation and Security

USGFX has a controversial regulatory history, having lost its ASIC licence in 2020 and its UK FCA registration soon after.

• Currently operates offshore under
  • USG Global Ltd (Vanuatu VFSC)
  • USG Capital Ltd (SVG)
• No regulation by FCA, ASIC, CySEC, or any Tier-1 authority
• No investor compensation scheme
• No confirmed fund segregation or external audit disclosures

Due to these issues, traders are not protected by any strong financial authority, and recourse options are limited in disputes.

Pricing and Costs

USGFX promotes competitive pricing on ECN accounts, but full transparency is not always available.

• Spreads:
  • From 0.8 pips on Standard
  • From 0.0 pips on ECN accounts
• Commissions:
  • ECN account: $7 per round lot
• Deposit/Withdrawal Fees:
  • Deposit fees waived; withdrawal fees may apply
• Inactivity Fee:
  • $10/month after 6 months of inactivity

While pricing is reasonable on ECN accounts, hidden charges and slippage reports have been raised by users.

Educational Resources and Customer Support

USGFX provides moderate educational tools and account assistance but receives mixed reviews for client service.

• Education:
  • Webinars, trading courses, platform tutorials
  • Beginner-friendly content available
• Market Analysis:
  • Daily updates and basic technical insights
• Customer Support:
  • 24/5 live chat, email, and phone
  • Multilingual support offered
  • Some clients report slow or evasive responses in withdrawal cases

Risk Management Tools

Standard MetaTrader risk controls are available, but USGFX does not offer proprietary or account-level safety guarantees.

• Stop-loss, take-profit, and trailing stop orders
• No guaranteed stop-loss orders (GSLOs)
• No stated negative balance protection
• High leverage may expose clients to rapid capital loss

Pros and Cons

Pros

• Supports MT4 and MT5 trading platforms
• ECN account options with tight spreads
• Crypto and multi-asset CFD trading available
• Range of educational materials for beginners

Cons

• Lost regulation in Australia and UK
• Now offshore and unregulated by Tier-1 bodies
• No fund protection or legal safety net
• Mixed client reviews and trust issues
• Limited transparency in corporate operations

Conclusion: Is USGFX the Right Choice?

USGFX is no longer the regulated, reputable broker it once aimed to be. While it continues to offer competitive trading conditions via MT4/MT5, the loss of ASIC and FCA licences, shift to offshore jurisdictions, and lack of transparency make it unsuitable for risk-averse traders. Safer, better-regulated alternatives include IC Markets, Pepperstone, and AvaTrade.