USGFX Review & Ratings - Forex Broker

USGFX Review

Excellent selection of trading platforms
Reputable and secure trading broker
Great customer service
Mobile trading and social trading

Trading fees are not very competitive
Limited selection of tradable assets

USGFX is an award winning online trading brokerage enabling clients around the world to participate in the trading of multiple asset classes across the international markets. USGFX is owned and operated by Union Standard International Group Pty Ltd and is an Australian based trading brokerage that was established in 2005. The brokerages headquarters are located at G03, 135 Macquarie Street, Sydney, NSW 2000, Australia. As USGFX is based out of Australia, the brokerage is licensed and regulated by the Australian Securities and Investment Commission (ASIC) and holds an Australian Financial Services License (AFSL-302792). USGFX has grown tremendously over the years and now services traders from all around the world with some exceptions like the United States. USGFX offers their services in 19 different languages and provides their traders with a variety of account types, platforms, market analysis tools, and educational resources. They are a brokerage that believes in going above and beyond which is evident through the services they provide. While USGFX may be an excellent trading brokerage to deal with, there are so many to choose from, so how do you know which one to choose? Well, in the following review we analyze all aspects of the USGFX trading brokerage so that you can decide if they are the right trading brokerage for you.

Trading Platform

USGFX features an array of sophisticated trading platforms provided by the Meta Trader brand. The platforms available include Meta Trader 4 (MT4), Meta Trader 5 (MT5), MT4 & MT5 WebTrader, Mt4 & MT5 Mobile Trading, and the MT4 Multiterminal platform. As well, traders can participate in social trading via either ZuluTrade or Myfxbook social trading integrations. With all these options available to traders, literally every trader will find what they’re looking for, whether they’re just starting out or are an experienced veteran. See below, an overview of the Meta Trader capabilities and social trading functions.

Meta Trader 4 & 5 Trading Platforms

The Meta Trader platforms are the most respected and commonly used forex trading platforms in the world. They provide powerful and intuitive trading experiences with an array of sophisticated features. For instance, traders have access to a comprehensive charting package on all platforms that comes complete with numerous technical indicators, chart types, time frames, and drawing and analysis tools. Also, the MetaTrader platforms feature automated trading with the use of Expert Advisors (EAs) made possible with the MLQ4 programming language of the platform.

ZuluTrade Social Trading

With ZuluTrade, traders can take advantage of hundreds of signal providers from around the world to study and monitor the markets for you. Traders can simply copy other traders to automatically facilitate trades or follow them for advice.

Myfxbook Social Trading

This is a free social trading aspect that is best used for beginner forex traders. Traders add signal providers to their accounts if they need a professional role model to learn from.

Exchange Markets

The USGFX trading brokerage primarily offers the trading of Forex, but also offers the ability to trade CFDs on Indices and Commodities. As for the Forex markets, traders have access to over 50 currency pairs including Majors, Minors, and Exotics currency pairs. Unfortunately, there is little information provided for the Indices and Commodities markets, but we can assume the tradable assets offered here are limited as USGFX focuses primarily on Forex trading.

Fees and Commission

USGFX charges their traders zero commissions on all traders and rather generates their trading fees through the spread. The spreads imposed are dynamic as they are dependent on the account level of the trader. Overall, we found the spreads to be quite high compared with industry standards. See below, the associated spreads, minimum deposit amount, and maximum leverage featured for each account.

Mini Account

Minimum deposit of $100
Spreads from 2.8 pips
Maximum Leverage 1:500

Standard Account

Minimum deposit of $10,000
Spreads from 2.2 pips
Maximum Leverage 1:500

VIP Account

Minimum deposit of $50,000
Spreads from 1.3 pips
Maximum Leverage 1:500

Pro-ECN Account

Minimum deposit of $50,000
Spreads from 1.5 pips
Maximum Leverage 1:100

Security and Fairness

USGFX is a very safe, fair, and secure online trading brokerage as they are licensed and regulated by the reputable regulatory authority, Australian Securities & Investment Commission (ASIC). This ensures the USGFX trading brokerage adheres to all the rules and regulations laid out by them and ensures fair and transparent operations. Also, client accounts are protected by negative balance protection which prevents them from losing more than what they invest. All in all, traders can trade confidently with the USGFX online trading brokerage.

Support

USGFX provides their clients with exceptional customer support that’s available 24/7 via live chat, phone, or email. Traders also have access to a dedicated account manager that’s apart of the standard trading package offered by USGFX. These account managers will help you get started with their platform and services as well as give advice as to where to start investing. Additional methods of support include the websites education center. Here, traders will find guides, FAQs, seminars, and more.

Conclusion

Overall, the USGFX online trading brokerage is an excellent trading brokerage for the trading of Forex. As for the trading of other financial assets, not so much. USGFX provides their traders with a wide array of trading platforms dedicated to forex trading and also supports automated trading and social trading. The tradeable assets featured by USGFX are somewhat limited, but forex traders should be happy. The customer support provided by USGFX is very good and the brokerage is very safe and secure to deal with.