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USGForex Review: A Bogus Forex Platform

USGForex Review: A Bogus Forex Platform

USGForex or United Strategic Group claims is another forex investment platform registered in St. Vincent and the Grenadines. The platform claims to offer users a dedicated account manager and negative balance projection. However, we fail to understand why the platform has two domain registries, usgfx.global and usgforex.com. In most cases, websites avoiding ranking practice this stunt. Please find out more in our exclusive USGFOREX REVIEW.

A Summary of USGForex

USGForex Review

Regarding the company profile, the platform claims to offer unmatched services. The platform also claims to be an award-winning multi-asset CFD and FX platform. United Strategic Group LLC is the company behind this platform.

What is clear is the lack of transparency from the parent company. There are no records of their existence, even in St. Vincent and the Grenadines. And this adds more mystery to the platform. There’s also the risk that USG Forex is an anonymous offshore forex investment platform.

We wouldn’t recommend an offshore and unregulated platform. To add salt to injury, the platform is completely anonymous. Despite claiming to win awards, there’s no record of it. The lack of transparency is wanting from the platform, which is an important aspect of investing.

One sure way of making returns in the forex world is partnering with reputable platforms. You can join groundbreaking forex investment platforms offering creative ways of investing. It’s the best way of investing and earning passive income.

On their about us page, there’s no information on the background and history of the platform. We don’t know which website is real or if one is a clone. These are the risky aspects that normal traders won’t bother checking.

It would be best if you did thorough research before committing funds to any platform. One of the best ways is to read usgfx.global reviews. You will get a feel of what other users are facing before signing up.

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Accounts and investment packages USGForex

USGForex offers four account packages with the minimum acceptable balance starting at $100. The leverage for all accounts is between 1:100 and 1:500. Accounts are available for three parties, corporates, individuals, and joint accounts.

Here’s a closer look at each package and what it brings to the table;

Mini

With the mini account, the acceptable minimum deposit is $100 with spreads from 2.8 pips. The minimum lot size is 0.01, with the lot size set at 100,000. Information reveals the mini account is strictly for individual account holders.

Standard

USGForex Account types

For the standard account users, there’s a minimum allowed deposit of $10,000. There’s no maximum balance set for this account. Spreads are set from 2.2 pips, with the minimum lot size being 0.01. The account is available for all three types of clients.

VIP

You must make a minimum deposit of $50,000 to start using the account. The account is for all client types and comes with spreads of 1.3 pips and a minimum lot size of 0.01. Standard lot size is 100,000.

Pro ECN

The account has the same depository requirement of $50,000. Spreads are set at 1.5 pips, with the minimum lot size being 0.01. It comes with a fixed spread of 1:100. All client types can sign up with the account.

From the above, we can see the only eligible account is the Pro ECN. The only problem is the high deposit amount of $50,000.

Affiliate programs

You can start earning passive income with their affiliate platform. The main problem with their affiliate platform is the lack of proper information. For example, you don’t know whether the platform offers commissions, percentages, or rates.

There’s no information on how you can track conversions. All you have is their word for releasing payments. It would be best if you also considered the repercussions of directing users to an offshore platform.
Once things spiral, you will end up being blamed for the losses. You will also likely lose your reputation due to the complaints. Therefore, it’s ideal for earning passive income from reliable platforms with a proven track record.

Customer support

There’s a live chat tab that takes a long time to respond. We don’t see the reason for asking for our phone number. Experts warn that such platforms are harvesting data for other users. It’s the reason we have been receiving countless emails from products we haven’t subscribed to.

On their contact page, the platform has a phone number with a US code. We believe the platform is using virtual phone service providers. 

Deposit and withdrawal options USGForex

We did spot over 18 deposit options which include AstroPay, bank transfers, and coin payments. Depositing funds is instant, and there’s a 0.5 percent fee using Coin payment avenues. However, when it comes to withdrawal, it’s another story.

USG Forex Payment Options

The withdrawal part comes with the statement they don’t accept cash deposits. And it begs the question of why some transfers are in the form of cash. It’s a clear violation of the fund policies. There’s also no proof anyone has made withdrawals with the platform.

Is USGForex Licensed or Registered?

USGForex claims to be registered in St Vincent and the Grenadines. With the US phone number, you would expect the Securities Exchange Commission to license them. Unfortunately, it’s not the case as this is another offshore and unregulated platform.

Your funds are at risk as there’s no compliance. It’s the reason why most platforms run to Marshall Island and SVG to get registered. The two places don’t impose strict restrictions on trading platforms.

When looking for an investment platform, ensure you have one that is duly licensed. Go for a platform licensed by a reputable governing body. These include ASIC, CySEC, FCA, and the Securities Exchange Commission.

Other notable regulators include BaFIN, CNMV, CONSOB, and FINMA. Without any oversight, the platform will conduct business as they please. It’s the reason they offer high leverage, which is set at 1:500.

MT4 Trading Platform

One of the few things the platform got right was offering a world-class trading terminal. As a result, MT4 is regarded as one of the best trading platforms to use. In addition, the platform offers users an interactive user experience.

usgforex.com License and Registration usgfx.global

You also get to use advanced tools and an engaging interface. The platform is stable and offers instant executions. You can also customize the platform to suit your style of trading. That’s how powerful the MT4 platform is.

Safety of funds with USGGForex

Safety of funds is out of the question with an offshore and unregulated platform. The platform fails to meet acceptable international standards. There’s no segregation of funds or insurance cover for deposits.

Once you deposit funds with the platform, we suspect they transfer deposits to a single account. In the event of bankruptcy or insolvency, members won’t get any compensation. It’s why offshore brokers are a risk to investors.

Why we don’t recommend using USGForex

Here’s why we find it hard to recommend USG Forex to investors

  • Lack of compliance with international standards
  • Safety of funds is out of the question
  • Withdrawal is hectic with long delays.

There you have it, and the cons outweigh any pros the platform offers.

Join a reputable trading platform offering ingenious ways of investing. It’s the only way to make reasonable returns.

If you have any queries, feel free to leave a comment or write to us.

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