USGFX Journal (Broker out of business)

Is USGFX safe?

• Investor protection: ...
• Regulation: VFSC Vanuatu, FCA UK, ASIC Australia
• Publicly traded: no
• Segregated account: yes
• Guaranteed Stop Loss: no
• Negative Balance Protection: yes

Is USGFX trusted?

• Information transparency: high ★★★★★
• Customer service: ...
• USGFX website: semi-detailed, updated ★★★
• USGFX popularity (by visitor count): average ★★★

How USGFX works

A.C.N 117 658 349 (“the Company)

We note that the Australian Securities and Investments Commission (“ASIC”) has pursued an investigation and legal proceedings against the Company since late 2019. ASIC has since cancelled the Company’s AFSL, and therefore can no longer offer financial services or products to clients.

As such, the Company ceased trading, effective as of the Administrators appointment on 8 July 2020, whereby clients were no longer able to enter into any new trades or positions. Clients could close out their existing positions until 7 August 2020, which timeframe has now ended. Withdrawals are suspended, they are to be dealt with through claims submitted in the Liquidation process.

http://www.usgfx.com/

4. What services and products are we authorised to provide to you? USG GLOABL is authorised by the Vanuatu Financial Service Commission to provide general advice, dealing and market-making services in relation to derivatives and foreign exchange contracts to retail and wholesale clients.

• Counterparty risk Given you are dealing with us as a counterparty to every transaction, you will have an exposure to us in relation to each transaction. In all cases, you are reliant on our ability to meet our obligations to you under the terms of each transaction. This risk is sometimes described as counterparty risk.

We may choose to limit our exposure to our clients by entering into transactions with hedging counterparties as principal in the wholesale market.

(c) We may refuse to accept an Order (including but not limited to any Order that relates to blackbox trading, scalping or any similar trading practices) and we may place a limit on any Order or place other conditions on the receipt of instructions or Orders, in our absolute discretion and for any reason.