USGFX – what we know and have as facts about it; The USG group has many regulations of the financial authorities. Union Standard International Group Pty Ltd (USG AU) is regulated by the Australian Securities and Investment Commission (ASIC) under license number 302792; Union Standard International Group Limited (USG UK) is authorized and regulated by the Financial Conduct Authority (FCA) under reference number 798776; Union Standard International Group Ltd (USG Global) is licensed to deal in securities by VFSC under register number 41706. These licenses allow it to conduct various financial services, including receiving, transmitting, and executing customer orders.
We have found in the Product Disclosure Statement file that USGFX will enter into all CFDs with clients as principal, not as an agent. Clients deal with the company as a counterparty to every transaction, so they will have an exposure to USGFX in relation to each transaction. The company may choose to limit the exposure to its clients by entering into transactions with hedging counterparties as principal in the wholesale market. All this means that USGFX is a market maker. In general, dealing with market makers involves a conflict of interest because they do not transmit every customer deal and hope that customers will lose. Every loss of customers is their profit. There is a warning issued by the Australian Securities and Investment Commission (ASIC) at the end of 2019 against Maxi EFX Global AU Pty Ltd with a trade name EuropeFX and BrightAU Capital Pty Ltd with a trade name TradeFred. Both are Corporate Authorized Representatives of USG AU.
We also found that there are some posts in the forums about submitting multiple fake positive reviews, withdrawal issues and large negative slippage.
So far, we have not received any complaints from customers of USGFX. If you have any criticism to share with us or feel annoyed by USGFX, please fill in the form below, detailing your case. Once we have made your case public, we may attempt to mediate between you and USGFX if you wish.