General
USGFX is an ASIC regulated Forex brokerage (Australian Securities & Investments Commission) which offers clients a full array of financial instruments comprising 60 currencies, indices and commodities. With leverage as high as 1:500 and a minimum deposit as low as $100, this Forex brokerage complies with industry standards vis-à-vis safety and security, and reliable trade executions. It utilises MetaTrader 4 – the world’s leading software platform for trading Forex. Full compatibility with Android, iOS and desktop devices is assured.
USGFX provides Forex traders with an array of resources including FX TV, a $100,000 demo trading account, market news & analysis, webinars, seminars, and an active blog. Multiple account options are available, and UK Forex clients can enjoy an array of financial instruments including commodities, indices, currencies and FX, and CFDs. The company’s liquidity providers include Citi, BNP Paribas, Credit Suisse, FX Spot Stream™, JP Morgan, UBS, Bank of America Merrill Lynch and others. Forex clients can stay abreast of the latest developments on social media channels Facebook, Twitter, LinkedIn, and G +.
Overview/ background
USGFX invests heavily in building client relationships. This Forex provider espouses the tenets of respect, trust, and transparency. As a leading Forex brokerage, this Sydney-based brokerage is regulated by two Australian authorities – AFSL (Australian Financial Services License) with License #302792 and ASIC (Australian Securities and Investments Commission). The company has a Shanghai office with premises in Hong Kong. The servers are located in Hong Kong and New York to ensure that clients enjoy rapid executions of trades at all times.
Account Types
Various account types are available including a Mini Account, Standard Account, VIP Account, and a Pro-ECN Account.
Mini account features include: $100 minimum deposit with no maximum balance. Spreads range from 2.8 pips with a minimum lot size of 0.01 and leverage as high as 1:500. The standard lot size is 100,000.
Standard account features include: $10,000 minimum deposit with no maximum balance and spreads as low as 2.2 pips. The minimum lot size is 0.01, and leverage goes as high as 1:500. The standard lot size is 100,000 and this is ideal for individual accounts, joint accounts and corporate accounts.
VIP account features include: a minimum deposit of $50,000 with no maximum balance and spreads as low as 1.3 pips. The minimum lot size is 0.01, leverage rises to 1:500, and the standard lot size is 100,000. Like the Standard Account, individual, joint and corporate accounts are available.
Pro—ECN account features include: a minimum deposit of $50,000 with no maximum balance and spreads as low as 1.5. The minimum lot size is 0.01 and leverage is limited to 1:100. The standard lot size is 100,000 and individual accounts, joint accounts, and corporate accounts are available with this option.
The requirements for each account type are listed at USGFX, and typically include proof of residential address, and a government ID or passport.
Trading Platform/ software
Various trading platforms are available, including MetaTrader 4 and MetaTrader 5. MT4 is the most established and respected Forex trading platform. Clients get to enjoy feature-rich resources on this fully customized platform, with 1-click execution, charting, graphs, trend analysis, and EAs. This trading platform is provided free of charge and can be downloaded direct from USGFX. It is available for Windows operating systems and Mac operating systems.
MetaTrader 5 is the upgrade of MetaTrader 4. It offers additional features and functionality and serves as a powerful platform for Forex traders. Among others, MT5 offers an integrated multifunctional FX trading platform and a built-in MetaTrader market which comes with technical indicators and trading bots. Other features include web trading from all browsers and devices, virtual hosting, copy trading, and expert support around the clock. The enhanced accuracy, productivity and algorithmic trading functions of this platform make it ideal for FX traders.
The mobile MT4 and MT5, WebTrader and MT4 multiterminal platforms serve to enhance the overall trading experience for clients. The apps are available from the Google Play Store, or the App Store
Deposit options
USGFX deposit options include over a dozen funding methods. For the most part, deposits are available instantly, except for credit cards and bank wires. Deposit options include Visa, MasterCard, American Express, Bank Wire Transfer, WebMoney, OKPay, Perfect Money, Skrill, Neteller, Thailand Online Banking, Malaysia Online Banking, Indonesia Online Banking, Vietnam Online Banking, and MoneyNet Int. No cash deposits are accepted, neither are travellers’ checks or money orders. All deposits are verified, and USGFX subscribes to international laws regarding money laundering.
Markets
USGFX is fully authorized by the Australian Financial Services to offer a wide range of financial instruments and products to clients. These include Forex contracts, and derivatives trading (CFDs). The range of financial instruments include gold and silver CFDs, AUD/USD, XAU/USD, index CFDs and the like. Below are examples of the 60 tradable instruments at this brokerage.
Forex pairs – GBP/USD, USD/JPY, EUR/USD, USD/CHF, EUR/GBP, CAD/JPY, AUD/JPY, GBP/CHF, EUR/AUD, CHF/JPY, AUD/USD, GBP/JPY, EUR/CHF and others.
Indices – S&P 500, NASDAQ 100, France 40, UK 100, Japan 225, Hang Seng Index, AUS200, Ibex 35, Dow 30
Commodities – Brent crude oil, WTI crude oil
Bitcoin – BTC/USD
Metals Contracts – gold and silver
Bonuses
Bonuses and promotions available at USGFX are indicated under the special promotions tab. They include several time sensitive promos which can be found here. One such promotional offer is the 50% deposit bonus which is available over the first 60 days from the date of your deposit. There is a friend referral program which rewards traders with up to $200 when the referred friend deposits $999.
Customer Support
Clients can contact customer support through multiple channels, including the live chat function. Support is available in multiple languages including Turkish, Farsi, Korean, Vietnamese, Portuguese, Spanish, Italian, German, French, Russian, Hindi, and English. Forex traders will find plenty of information available through the contact us tab. The head office in Australia has a telephone contact number of 1-300-822-355. The international telephone number is 61-2-9251-1395. The fax number is 61-2-6147-7151. For email support, clients can send their question/query/request to the following address: support.au@USGFX.com. Customer service representatives are standing by to deal with your queries in a professional and timely manner.
Safety
Safety is at the forefront of all trading activity at USGFX. This Forex brokerage is licensed by the Australian Securities & Investments Commission (ASIC) and it also maintains client funds in segregated accounts. This guards against insolvency or bankruptcy of the company. Additionally, no negative balances are allowed.
Ease of Use
For the most part, USGFX is relatively easy to use. MetaTrader 4 and MetaTrader 5 have been customized to fit this brokerage’s needs. However, we had to contact customer support to find a full listing of the financial instruments available at this broker. This is not readily available on site under any tab or category. The financial instruments are listed in the education centre under metals contract details, Forex contract details, and CFD contract details.
Final Thoughts
USGFX is an intuitive Forex trading platform with a wide range of currency pairs. The spreads aren’t as low as several other leading brokerages, but dozens of pairs are available. It’s easy to get up and running, and customer support is highly responsive and helpful.
