USGFX is an Australia based broker of Forex and CFDs. They are headquartered in Sydney, Australia. USGFX offers their traders a total of 4 types of accounts for trading, most of which are same except the basic one. In those four accounts the basic one is the Mini Account which requires a minimum deposit of 100 Dollars and spreads of this account starts at 2.8 pips and leverage provided is 1:500. The spreads on this account is way too high as compared to the spreads offered by other brokers in the industry. Second account is Standard account which has a minimum deposit of 10,000 dollars which is significantly extremely high and unreasonable.
The broker’s intentions don’t seem legitimate as it is not providing fair trading conditions for the basic account having 100 dollars as minimum deposit, so that one would choose standard account and gave them 10,000 dollars. Next it has the Pro ECN Account and the VIP Account, both of which ask for a minimum deposit of 50,000 dollars. The spreads on these accounts start at 1.5 pips and 1.3 pips which is fair but with an account of 50,000 Dollars. It would not be a good decision to invest with this broker as it is suspected as a scam.
If you have traded with USGFX and believe you have been scammed by them you have a chance to get your money back. Many unregulated brokers have been found to scam traders. At Broker complaint registry it’s our job to make sure you can fight back and get your money refunded. By filling the form you have taken the first step to recover your money.
Is USGFX a scam or legit broker?
USGFX has been suspected as a scam broker. We don’t recommend to trade with them and if you are trading with USGFX contact them immediately and try to get your fund out. If the USGFX has done the following, you have probably a victim of USGFX scam broker.
Reason to suspect a scam broker is in action:
The broker froze your account
The broker blocked your account
You cannot login back into your account
Money has been taken out from the account
The broker doesn’t take your calls
The broker shut down his website
You noticed the broker took money out from your bank account with out your permission
The broker is offering you a bonus
The broker is offering you to fund more money into the account after you lost a large sum
Don’t give up. You can fight back and get your money refunded. Start by filling the form above and we will get in touch with you and provide you with information on how to start the process.