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Title

USGFX Broker Review

Review By: Max Webster Review Updated: October 13, 2019

Address: 135 Macquarie Street, Sydney, NSW 2000, Australia

Forex CFD Crypto Social Trading Commodities

Spread

1.2

Max. Leverage

None

Deposit Protection

Negative Balance Protection

Min. Deposit

$100

Spread

1.2

Max. Leverage

None

Deposit Protection

Negative Balance Protection

Min. Deposit

$100

Spread

1.2

Max. Leverage

None

Deposit Protection

Negative Bonus Protection

Min. Deposit

$100

Spread

1.2

Max. Leverage

none

Deposit Protection

Negative Balance Protection

Min. Deposit

$100

Spread

1

Max. Leverage

1:300 pro

Deposit Protection

£50,000

Min. Deposit

£100

Our Overall Rating

Rating 4.3
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USGFX is a multi-award-winning Australian FX and CFD broker who provide clients with access to fast and efficient trading across a wide range of asset classes including currency pairs, indices, and commodities. Headquartered in Sydney, USGFX has steadily grown to be one of the most prominent rising stars in the Asia-Pacific region. It has boosted recently through a high-profile sponsorship with English Premier League team Sheffield United.

Commissions & Fees

Rating

The commissions and fees you incur on your trades will generally depend on the type of account you have. The basic account has a minimum deposit of $100 and spreads start from 2.8 pips. The next account level up requires a $10,000 minimum deposit, with the next step up requiring $50,000. The spreads on these start at 1.5 pips and 1.3 pips respectively, which while not the highest we have seen on the market, aren’t necessarily competitive—especially given the high minimum deposits. The basic account represents the worst value of the three and doesn’t seem to keep pace with other brokers.

Platforms & Tools

Rating

Trading is delivered primarily via the MetaTrader 4 and MetaTrader 5 trading platforms. For both versions, both desktop and mobile-friendly versions are available, and the standard of trading is every bit as good as we have come to expect from the MetaTrader crew. Additionally, there is also a multiterminal option for more advanced traders, along with a proprietary Webtrader. Social trading options are available on USGFX via ZuluTrade or MyFxBook. In our experience, the platform and website themselves were straightforward to use and intuitive.

Customer Service

Rating

Although customer service can often be a make or break point for many mid-tier brokerages out there, this doesn’t seem to be the case for USGFX. In fact, customer support is one of USGFX’s strongest aspects and they have proven to be an industry leader of sorts. Each investor is assigned a personal account manager from the firm to help manage their account. And in addition, 24 hour a day customer service support is provide through their network of offices around the world. The website also supports a number of languages as standard, which increases its overall accessibility.

Research

Rating

Ease of Use

Rating

Mobile Trading

Rating

Regulatory details

Trading Foreign Exchange Currency Pairs (FX / FOREX) and/or Contracts for Difference (CFDs) on margin carries a high level of risk to your capital. These derivatives may not be suitable for all investors. Union Standard International Group Pty Ltd Product Disclosure Statement (PDS) and Financial Services Guide(FSG) are available on our website. Consideration of the should be given to your level of experience, knowledge of financial markets, understanding of FX and CFD derivatives including margin, leverage, risk management, as well as trading techniques and methods. Union Standard International Group Pty Ltd provides general advice only that does not take into account financial situation, needs or individual investment objectives and it is recommended that you seek independent advice as required. The information contained here is general in nature, provided without reference to your past, present or future financial situation. This information is general in nature and does not constitute advice or a recommendation to act upon the information or an offer. Union Standard International Group Pty Ltd Terms and Conditions are available on our website and Privacy Policy can be viewed. AFSL 302792. ACN 117 658 349
The financial products therein are issued and provided by Union Standard International Group Pty Ltd ACN 117 658 349. The website www.usgfx.com is powered by World Media Investment Limited. Union Standard International Group Pty Ltd holds AFSL 302792 as issued by the Australian Securities & Investments Commission.

Final Thoughts

Having considered everything USGFX has to offer, the platform generally presents a pretty solid package. If you are located in the Asia-Pacific region, it is easily one of the most full-featured platforms out there at the moment. However, on the other hand, the reduced spreads offered on both the premium and basic account types would probably be enough to put most serious traders off—particularly given the high minimum deposit requirements. Despite this, the level of customer support on offer is fantastic, and the educational resources available through the website are some of the best we have come across to date.

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Ratings

Rating
  • Commissions & Fees Rating
  • Platforms & Tools Rating
  • Customer Service Rating
  • Research Rating
  • Ease of Use Rating
  • Mobile Trading Rating

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