USGFX Review

USGFX Review | Real Review By A Forex Trader

Forex, Indices, Energy, Precious Metals and Bitcoin

  • ASIC regulated ✔
  • EUR/USD spread from 1.3
  • MT4 & MT5 trading
  • Copy trading
  • 60+ markets available
  • STP/ECN trading
  • Minimum deposit: $100
  • Trading automation
MT4 Bitcoin CFD Trading • USGFX

USGFX Review

This is an ASIC regulated STP/ECN Forex broker, offering trading on both MT4 and MT5 and also other markets, with 60+ markets available to trade.

Briefly what does USGFX do ?

USGFX offers trading principally in Forex but also a range of other markets on MT4 and MT5.

MT4

The MT4 platform at USGFX has 45+ Forex pairs. It also offers Precious Metals, Energy, Indices and Bitcoin, for a total of 60+.

MT5

The MT5 platform at USGFX has 40+ Forex pairs. As well it has Precious Metals, Energy and Indices, for a total of 55+.

Does USGFX restrict trading styles ?

USGFX says it does not restrict trading styles and has no dealing desk intervention in the order process. Thus styles such as scalping and automated trading are possible. MT4 and MT5 both support automated trading.

Is social and copy trading available ?

Social and copy trading is available via the ZuluTrade and Myfxbook platforms.

What tools does USGFX offer to the trader ?

USGFX offers Trading Central. This platform offers market analysis, including technical analysis. It also sends Daily Technical Reviews by email twice daily. There is an MT4 plug in available, to deliver information directly to this platform. USGFX also offers Recognia, which provides trading signals and ideas, to assist traders in making trading decisions. There is an Economic Calendar provided as well as weekly market analysis.

Is Cryptocurrency CFD trading available ?

Bitcoin CFD trading is available on MT4. In CFD trading, the trader speculates on the price movement of the cryptocurrency, without having to own it and does not need a wallet or other means to store it and can go long or short. USGFX

Does USGFX have different account types ?

USGFX has a range of account types. There is a Mini Account, a Standard Account, a VIP Account and a Pro-ECN-Account. The Mini account has the lowest minimum deposit, of $100. The Standard account has a minimum deposit of $10,000. Both the VIP account and the Pro-ECN Accounts have a minimum deposit of $50,000. There is no maximum balance.

Apart from minimum deposit, what is the main difference between these accounts ?

They can offer lower spreads. USGFX is an STP/ECN broker. This means that it sources its prices from a liquidity provider, differing from other ECN brokers which may aggregate different liquidity providers. USGFX does not separate out the spread from the commission, thus its prices do not have a commission charge. The lowest spread is on the VIP account, which has a EUR/USD spread of 1.3. The Pro-ECN has a EUR/USD spread from 1.5. The Standard has a EUR/USD spread from 2.2 and the Mini account has a EUR/USD spread from 2.8. EUR/USD is the lowest Forex spread, as it is the most liquid pair.

Does USGFX offer micro lot trading ?

All accounts have a minimum trade size of 0.01 Forex Standard lots (i.e. micro lot).

What leverage is available ?

All account except for the Pro-ECN account offer leverage up to 500:1. The Pro-ECN account has leverage up to 100:1.

What documents are required to apply for an account ?

For identity verification, USGFX requires a scan of a passport or governement issued ID (front and back) and for address verification, a bill dated within the last three months, for an Individual Accounts. For Joint and Corporate Accounts, further documentation is required.

How does a trader make a deposit ?

Deposits can be made by Bank Wire Transfer, Credit Crd, MoneyPolo, WebMoney, Perfect Money, FasaPay, Skrill, Netleller, Thailand Online Banking, Malaysia Online Banking, Indonesia Online Banking, Vietnam Online Banking and MoneyNetint.

How may money be withdrawn ?

Withdrawal methods include Bank Wire Transfer, Australia Domestic Transfer and MoneyPolo, WebMoney, Perfect Money, FasaPay, Skrill, Netleller, Thailand Online Banking, Malaysia Online Banking, Indonesia Online Banking, Vietnam Online Banking and MoneyNetint. There are withdrawal fees, except for Australia Domestic Transfer.

Are apps available for mobile trading ?

Mobile trading is available for both MT4 and MT5.

Is there a web trader ?

There is an MT4 web trader.

Is USGFX regulated ?

USGFX is operated by Union Standard International Group Pty Ltd, with ACN 117 658 349, which is regulated by the Australian Securities and Investments Commission (ASIC), with AFSL 302792.