Overview of USGFX

Union Standard Group (USG) is an Australian investment firm that provides access to trade forex and CFDs under the brand name ‘USGFX’. The brand began operations in 2005 and is headquartered in Sydney, Australia with subsidiaries in London and Asia. This broker offers a wide range of financial instruments, including forex, indices, commodities, and cryptocurrencies, which can be traded on the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.

USGFX prides itself on its commitment to customer service, with a 24/5 customer support team available to assist traders with their queries. The broker also offers educational resources such as webinars, ebooks, and video tutorials, as well as a free demo account for traders to practice their strategies. In addition, USGFX offers a range of account types to cater to the needs of different traders, including Standard, Pro, and VIP accounts.

Is USGFX legit or a scam？

USGFX has received mixed reviews and there have been reports of some traders experiencing issues with withdrawals and customer support. USGFX had their ASIC and FSC licenses suspended and VFSC license revoked in 2020 due to concerns over their compliance with regulatory requirements, particularly in regards to client money handling and risk management procedures. The Australian Securities and Investments Commission (ASIC) and the Financial Services Commission (FSC) of the British Virgin Islands suspended USGFX's licenses for six months, while the Vanuatu Financial Services Commission (VFSC) permanently revoked their licenses.

Regulated brokers are required to adhere to strict rules and regulations regarding client funds, transparency, and risk management. In the event of any dispute or issue, traders have recourse through the regulatory body. With an unregulated broker, there is no such protection, and traders may be at a higher risk of fraud or other unethical practices

Pros & Cons

Here let's take a closer look at the good and bad things about USGFX. On the plus side, they offer a wide range of financial instruments to trade, including Forex, commodities, and indices. Their trading platforms are also pretty user-friendly and easy to navigate. On the downside, their regulatory status is questionable, which could be a red flag for some traders. Plus, they don't accept clients from certain countries, so you'll want to make sure you're eligible before signing up.

Market Instruments

USGFX offers a range of financial instruments for trading, including forex currency pairs, commodities, indices, and shares of popular companies. Some examples of the instruments offered by USGFX are:

• Forex currency pairs such as EUR/USD, GBP/USD, USD/JPY, and AUD/USD

• Precious metals like gold, silver, and platinum

• Energy commodities such as crude oil and natural gas

• Indices such as S&P 500, NASDAQ, FTSE 100, and Nikkei 225

• Shares of popular companies like Apple, Amazon, Facebook, and Microsoft

Account Types

USGFX offers four different types of trading accounts to cater to the needs of different traders:

• MINI Account: This is the entry-level account with a minimum deposit requirement of $100. Traders with this account type can trade a wide range of instruments with low trading costs, access to educational resources, and 24/5 customer support. However, this account type comes with limited features, such as lower leverage and limited trading tools.

• Standard Account: The standard account requires a minimum deposit of $10,000 and comes with additional features such as higher leverage, access to more trading tools, and a dedicated account manager. Traders with this account type can also enjoy free VPS hosting and regular market analysis.

• VIP Account: This account type is designed for high-volume traders with a minimum deposit requirement of $50,000. In addition to the features of the standard account, VIP account holders can enjoy custom trading strategies, priority customer support, and exclusive market insights.

• Pro-ECN Account: The Pro-ECN account is designed for experienced traders and institutions with a minimum deposit requirement of $50,000. This account type offers ECN trading with no dealing desk, ultra-low spreads, and high execution speeds. Traders with this account type can also access premium research tools and institutional-grade liquidity.

How to open an account with USGFX？

Opening an account with USGFX is pretty straightforward and you need to follow these steps:

1. First, you need to go to their website and click on the “Open Account” button.

1. Then, you'll need to fill in some personal details, like your name, email address, and phone number. After that, you'll need to choose the type of account you want to open and provide some additional information, like your date of birth and proof of identity.

1. Once you've completed the registration process, you'll be able to deposit funds into your account and start trading. Just keep in mind that depending on the type of account you've chosen, there may be different deposit and withdrawal requirements.

Leverage

USGFX offers flexible leverage options ranging from 1:1 to 500:1, depending on the account type and instrument traded. It is important for traders to understand the risks involved with using high leverage and to use it judiciously. Additionally, some instruments may have lower leverage options due to market conditions or regulatory requirements. Traders should check with the broker regarding the available leverage options for specific instruments.

Spreads and Commissions (Trading Fees)

USGFX offers variable spreads, which means that the spread can widen or narrow depending on market conditions. The average spread for major currency pairs such as EUR/USD, USD/JPY, and GBP/USD is around 2-3 pips. Commissions are not charged for forex trading, but there are swap fees for holding positions overnight.

For trading other instruments like commodities, indices, and cryptocurrencies, USGFX charges a fixed spread. The size of the spread varies depending on the instrument traded. For example, the spread for gold is typically around $0.50 per ounce, while the spread for Bitcoin is around $60 per lot.

Non Trading Fees

Apart from spreads and commissions, USGFX also charges several non-trading fees. These fees can add up and affect your overall trading experience, so it's important to be aware of them.

One such fee is the inactivity fee. This fee is charged to your account if you haven't made any trades or withdrawals for a specified period of time. The fee amount varies depending on the type of account you have and how long you've been inactive.

Another fee to be aware of is the withdrawal fee. While USGFX doesn't charge a deposit fee, they do charge a fee for each withdrawal you make from your account. This fee is a fixed amount and varies depending on the payment method you choose for your withdrawal.

USGFX also charges a swap fee, which is a fee charged for holding positions overnight. This fee can be a credit or debit depending on the direction of your position and the interest rates of the currencies you are trading.

Lastly, USGFX may charge a conversion fee if you deposit or withdraw funds in a currency that is different from the base currency of your trading account. The conversion fee is a percentage of the amount being converted and can add up if you frequently deposit or withdraw in different currencies.

Trading Platforms

USGFX offers its clients the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, which are highly popular among traders worldwide. These platforms are equipped with a range of trading tools, including charting tools, technical analysis indicators, and trading robots, making them suitable for traders of all levels.

MT4 is a well-established platform that has been around for over 15 years. It is known for its user-friendly interface, ease of use, and a wide range of trading tools. MT5, on the other hand, is the latest version of the platform, which was introduced in 2010. It offers several advanced features, such as more technical analysis tools, a multi-threaded strategy tester, and an economic calendar.

One of the significant advantages of MT4 and MT5 is that they are compatible with a range of devices, including desktop computers, laptops, smartphones, and tablets. This allows traders to access their accounts and trade from anywhere at any time.

Here's how USGFX's trading platform stacks up against other brokers' platforms:

Deposits and Withdrawals

Minimum Deposit

USGFX has a minimum deposit requirement of $100, which is pretty reasonable compared to some other brokers out there. It means that even if you're just starting out with trading and don't have a lot of money to invest, you can still give it a go with USGFX. Of course, you won't be able to make huge trades for just $100, but it's a good starting point to get your feet wet and learn the ropes of trading.

USGFX offers a variety of deposit and withdrawal options to its clients. Deposits can be made through bank wire transfer, credit/debit cards, and various e-wallets such as Skrill, Neteller, and FasaPay. The processing time and fees for each method may vary.

Withdrawals can also be made through bank wire transfer, credit/debit cards, and e-wallets. However, it is important to note that there may be fees associated with withdrawals, depending on the method chosen. Withdrawal requests are typically processed within 1-2 business days.

Also, USGFX may apply internal fees to withdrawals that are not actively traded. For example, if you make a deposit and then withdraw it without trading, USGFX may apply a fee of up to 3% of the deposit amount.

Customer Support

USGFX offers customer support through various channels, including email, phone, and live chat. The broker has dedicated support teams in different regions to cater to clients' needs. Customer support is available 24/5, and clients can contact the broker through the website's contact form or through the provided phone numbers and email addresses.

USGFX also has an extensive FAQ section on its website that covers different aspects of trading, including account management, deposit and withdrawal, and trading platforms.

Educational Resources

USGFX offers a variety of educational resources to help traders improve their knowledge and skills in trading. The broker provides free webinars, video tutorials, e-books, and other resources to help traders learn about various topics such as technical analysis, risk management, trading strategies, and more. Additionally, USGFX offers a demo account, which traders can use to practice trading in a risk-free environment.

The educational resources provided by USGFX can be accessed through the broker's website or the trading platform. The resources are available in multiple languages, making them accessible to traders from different countries. Traders can also interact with the broker's experts and other traders through online forums and social media channels.

Conclusion

USGFX is a forex broker that offers trading services in a variety of markets, including forex, commodities, and cryptocurrencies. The broker offers several account types with varying minimum deposit requirements, allowing traders to choose an account that suits their trading needs. However, the broker's regulation has been a point of concern, with its licenses revoked by various regulatory authorities. This, coupled with negative reviews from clients and the low ranking score, raises questions about the broker's trustworthiness.

FAQs

• Q: Is USGFX a regulated broker？

A: USGFX was previously regulated by ASIC, FSC, and VFSC, but their licenses have been revoked due to regulatory violations.

• Q: What trading platforms does USGFX offer？

A: USGFX offers the popular MetaTrader 4 (MT4) platform for desktop, web, and mobile devices.

• Q: What is the minimum deposit requirement to open an account with USGFX？

A: USGFX offers a MINI account with a minimum deposit requirement of $100.

• Q: What is the maximum leverage offered by USGFX？

A: USGFX offers a maximum leverage of up to 500:1 for forex trading.

• Q: What are the available payment methods for deposits and withdrawals with USGFX？

A: USGFX offers various payment methods, including bank transfer, credit/debit card, and electronic payment systems such as Neteller and Skrill.

• Q: Does USGFX offer educational resources for traders？

A: Yes, USGFX provides a range of educational resources for traders, including webinars, e-books, and trading tutorials.

Risk Warning

Online trading is dangerous, and you could potentially lose all of your investment funds. Not all investors and traders are suitable for it. Please understand that the information on this website is designed to serve as general guidance, and that you should be aware of the risks.

General Information

What is Anzo Capital？

Anzo Capital is an online broker founded in 2015 that offers margin trading in financial derivatives such as foreign exchange (FX), precious metals, and contracts for differences (CFDs) through the MT4 platform. Anzo Capital is currently authorized and regulated by the United Kingdom Financial Conduct Authority (UK FCA).

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Anzo Capital Alternative Brokers

There are many alternative brokers to Anzo Capital depending on the specific needs and preferences of the trader. Some popular options include:

• IG (IG Group) - IG is a well-established broker that offers a wide range of trading products, including forex, stocks, indices, commodities, and cryptocurrencies. They provide access to various trading platforms, including their proprietary platform and MetaTrader 4 (MT4). IG is regulated by multiple financial authorities, including the UK FCA.

• Pepperstone - Pepperstone is a popular broker known for its competitive pricing and fast execution. They offer a diverse range of trading instruments, including forex, indices, commodities, and cryptocurrencies. Pepperstone supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms and provides various account types to cater to different trading needs. They are regulated by reputable authorities such as CYSEC (Cyprus) and FCA (UK).

• eToro - eToro is a social trading platform that combines trading with social networking features. They offer a unique copy trading feature, allowing users to automatically replicate the trades of successful traders. eToro provides access to various financial markets, including stocks, cryptocurrencies, commodities, and ETFs. They are regulated by authorities such as CySEC (Cyprus) and the FCA (UK).

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is Anzo Capital Safe or a Scam？

Anzo Capital's regulation by the Financial Conduct Authority (FCA) in the UK and offshore regulation by the Financial Services Commission (FSC) suggests that the broker operates under certain regulatory oversight. The FCA and FSC are reputable financial regulatory authorities known for their rigorous standards and guidelines.

The separation of customers' funds and the company's funds into different bank accounts is a standard practice in the industry that enhances the safety of client funds. It helps to protect customers' funds in the event of any financial difficulties faced by the broker.

The claim of adhering to guidelines, including anti-money laundering policies, is also a positive sign. Compliance with these policies demonstrates a commitment to maintaining a secure and trustworthy trading environment.

Market Instruments

Anzo Capital provides a diverse range of market instruments to cater to the trading preferences of its clients. Traders have the opportunity to participate in the Forex market, where they can trade various currency pairs, taking advantage of currency fluctuations. Additionally, Anzo Capital offers precious metals such as gold and silver, allowing traders to speculate on their value in the market. Furthermore, the availability of Contract for Difference (CFD) trading allows clients to trade a wide range of financial instruments, including stock CFDs. This enables traders to engage in the price movements of popular stocks without owning the underlying assets.

Accounts

Anzo Capital offers a variety of account types to accommodate different trading needs. Traders have the option to choose from three account types: Personal Account, Joint Account, and Business Account. Each account type caters to individual traders, joint account holders, or businesses respectively. Furthermore, Anzo Capital provides two execution options for each account type: STP (Straight Through Processing) and ECN (Electronic Communication Network), allowing traders to choose the execution method that suits their trading style and preferences.

In terms of account funding, Anzo Capital maintains a minimum deposit requirement of $100 across all account types. This provides accessibility to traders with varying levels of capital, enabling them to get started with their trading activities.

Additionally, demo accounts are available for 30 days. Anzo Capital's demo account provides users with $100,000 in virtual funds, enabling them to experience the platform and test their trading strategies in a risk-free environment. This feature is particularly beneficial for beginners who want to gain hands-on experience and build confidence before transitioning to live trading.

Leverage

Anzo Capital provides leverage of up to 1:500 to its traders. Leverage is a tool that enables traders to amplify their trading positions by borrowing funds from the broker. With a leverage ratio of 1:500, traders have the potential to control larger positions in the market with a smaller amount of capital. This can be advantageous for experienced traders looking to maximize their potential returns.

However, it's important to note that while leverage can enhance profits, it also magnifies potential losses. Traders should exercise caution and have a thorough understanding of the risks involved in trading with high leverage. It is recommended to carefully manage risk, use appropriate risk management strategies, and consider one's trading experience and financial situation before utilizing high leverage ratios offered by brokers like Anzo Capital.

Spreads & Commissions

Floating spreads, the main spreads for STP accounts are: EUR/USD 1.8 pips, USD/JPY 2.0 pips, the GBP/USD 2.0 pips, AUD/USD 1.9 pips, gold 3.5 pips, and crude oil 3.5 pips. The main spreads for ECN accounts are EUR/USD from 0.0 pips, and gold 0.9 pips. The swap is automatically calculated by the MT4 platform at the end of each trading day, and the server starts calculating at 23:59. The swap on Wednesday is three times the usual. The latest swap quotes need to refer to the MT4 market quote window. However, the broker doesn't specify any info on commissions.

It's important for traders to consider spreads and commissions as part of their overall trading costs, along with factors like liquidity, execution speed, and additional fees. Evaluating the cost structure is crucial when choosing a trading account, as it can impact profitability and trading strategies. Traders should carefully review the details provided by Anzo Capital and assess how the spreads and commissions align with their trading preferences and goals.

Below is a comparison table about spreads and commissions charged by different brokers:

Please note that the spread values provided are indicative and may vary based on market conditions and account types. Additionally, commissions for some brokers may vary depending on factors such as trading volume and account type. It's always recommended to refer to the brokers' official websites or contact their customer support for the most accurate and up-to-date information regarding spreads and commissions.

Trading Platform

Anzo Capital offers a diverse range of trading platforms designed to cater to the varying needs and preferences of traders. With the MT4 Desktop platform, traders can enjoy a powerful and feature-rich trading experience right on their desktop computers. This platform provides access to an extensive range of financial instruments, advanced charting tools, customizable indicators, and one-click trading execution, allowing users to analyze the markets and execute trades efficiently.

For those who prefer the flexibility of web-based trading, Anzo Capital offers the MT4 Web platform. This platform enables traders to access their trading accounts from any web browser without the need for any software installation. Traders can benefit from the familiar interface of MetaTrader 4 (MT4), along with its comprehensive charting capabilities, a wide selection of technical indicators, and the ability to trade directly from the charts.

Furthermore, Anzo Capital recognizes the importance of mobile trading and provides the MT4 Mobile platform. This mobile application enables traders to access their accounts and trade on-the-go using their smartphones or tablets. With the MT4 Mobile platform, traders can monitor market movements in real-time, execute trades, manage positions, and access their trading history, all from the convenience of their mobile devices.

In summary, Anzo Capital's trading platforms, including the MT4 Desktop, MT4 Web, and MT4 Mobile, offer traders a comprehensive suite of tools and features to enhance their trading experience. Whether traders prefer the power of a desktop platform, the convenience of web-based trading, or the flexibility of mobile trading, Anzo Capital provides a solution to meet their needs.

See the trading platform comparison table below:

Deposits & Withdrawals

Anzo Capital only accepts deposits and withdrawals via online bank transfer. The accepted currency for these transactions is CNY (Chinese Yuan). To get started, traders are required to make a minimum deposit of 3,000 CNY, allowing them to fund their trading accounts and start participating in the markets. On the withdrawal side, the minimum amount that can be withdrawn is 150 USD. However, there is no maximum limit for withdrawals, giving traders the freedom to withdraw their profits or funds as desired. Anzo Capital does not charge any fees for deposits or withdrawals, allowing traders to manage their finances without additional costs.

Deposits can be processed at any time, 24 hours a day, seven days a week, in line with the GMT+8 time zone. Withdrawals, on the other hand, are processed on weekdays (Monday to Friday) between 9 am and 6:30 pm (GMT+8), ensuring timely and efficient processing of withdrawal requests.

Customer Service

Anzo Capital provides live chat and phone: +852 2592 5424 during business hours, Monday to Friday, from 7:30 am to 02:00 am (GMT+8).

Conclusion

In conclusion, Anzo Capital stands out as a regulated broker with extensive experience in the industry. Anzo Capital offers a wide range of trading instruments, allowing traders to diversify their portfolios and explore various markets. The competitive trading conditions, coupled with the renowned MetaTrader 4 (MT4) platform, provide traders with a powerful and reliable trading experience.

Frequently Asked Questions (FAQs)