USG Forex: Is This Another Scam Broker or Not?

USG Forex: Is This Another Scam Broker or Not? title=

This Trading Platform is available in Ukraine

USG (United Strategic Group) is a forex broker that claims to feature quick trade execution, negative balance protection, account management, and various instruments.

It sounds promising and might be a decent platform - if you actually manage to register an account, that is.

Website address
Demo account
Yes
Currency
AUDCHFEURGBPJPYNZDSGDUSD
Supported languages
Eng
Active
Yes
Bonus
Sign-up bonus, Deposit bonus, No-deposit bonus, Weekly bonus, Losable bonus
MetaTrader 4
Yes
MetaTrader 5
Yes
cTrader
No
OmniTrader
No
AlgoTrader
No
TradingView
No
Trading Central
No
Autochartist
Yes
eSignal
No
STP Account
No
ECN Account
Yes
DMA Account
Yes
MAM Account
Yes
PAMM Account
Yes
LAMM Account
Yes
Demat Account
Yes
Mobile Apps
Available on Android and iOS for users
Margin Trading
Yes
Volatility Index
Yes
Spot Trading
Yes
Perpetual Swaps
Yes
ELWs
Yes
REITs
Yes
AI / Machine Learning
Yes
Robo Advisor
Yes
P2P Trading
Yes
Negative Balance Protection
Yes
VPS Hosting
Yes
Tournaments
Yes
Demo Competitions
Yes
Managed Accounts
Yes
Market Maker
Yes
Auto Trading
Yes
Social Trading
Yes
Copy Trading
Yes
Trade Signals
No
Islamic Account
Yes
Guaranteed Stop Loss
Yes
Forex GBPUSD Spread
N/A
Forex EURUSD Spread
N/A
Crypto Lending
Yes
Crypto Staking
Yes
Crypto Mining
Yes
Crypto Auto Market Maker
Yes
Ladder Options
Yes
Boundary Options
Yes
Show all >>

* The amount that will be credited to the account in the case of a successful deal

* General Risk Warning: Your capital might be at risk

Content

United Strategic Group (USG) is a Sydney-based forex broker founded in 2005. While it lacks regulation from a top authority, it does promise secure trading with advanced platforms, tools, customer support, and additional earnings opportunities.

USG also claims to feature quick trade execution, negative balance protection, account management, various instruments, and responsive support.

USG earns a TB (Trading.Biz) evaluation score of 2.6 after being carefully reviewed across multiple parameters. 

In this article, I will go over the features offered by USG and share everything I could find about them.

Pros and Cons

Pros

  • Ultra-fast trade execution
  • Quick deposits and withdrawals
  • Negative balance protection
  • Low spreads and slippage
  • Different account types for trading
  • Advanced trading tools

Cons

  • High leverage, which could be risky for inexperienced traders
  • Limited variety of trading assets
  • Unclear information about the financial authorities regulating the broker
  • Unresponsive customer support service

Further reading

Evaluating High Impact Factors

Factors  Average Score: 2.6
User Satisfaction 3/10
Regulation 1/10
Educational Content 3/10
Webinars 3/10
Spreads and Commissions 3/10
Customer Support 3/10

Further reading

Trade with USG Forex Broker If:

Well, to be perfectly honest, it’s hard to pinpoint a specific advantage to trading with USG.

After multiple attempts to get on the platform, I couldn’t even complete my registration. Worse, their customer support was entirely unresponsive.

Further reading

Don’t Trade with USG Forex Broker If:

  • You want a broker backed by a trustworthy regulator
  • You value responsive customer support service
  • You’re interested in trading a large variety of financial instruments

Further reading

Verified Office Address

USG Forex company profile

Verified Office of USG Forex

The broker’s website lists their office address as: Govant Building, PO Box 1276, Port Vila, Saint Vincent and the Grenadines.

Further reading

Regulation and Security

USG Forex regulation

Regulation and Security on USG Forex

Regulation

USG Forex Broker has been around since 2005, but isn’t regulated by any legitimate authority.

Security

USG claims its clients’ funds are held in a segregated client account to prevent the company from dipping into them to fund their operations. They also purportedly enforce negative balance protection, meaning your losses will never exceed your account balance.

The broker is supposedly bullish on customer service, assigning each user with a dedicated account manager. That doesn’t match with my actual experience of the platform, however.

USG also doesn’t have standard website security features like two-factor authentication (2FA) or email OTP (one-time password).

Further reading

Expert Opinion on USG Forex Broker

USG Forex expert opinion

Assistance Refund Review of USG Forex

Assistance Refund spoke about the lack of regulatory clarity, highlighting the fact that USG doesn’t even provide a phone number traders can use to contact them. They strongly hinted at USG being a scam broker.

Further reading

Expert Review of USG Forex Broker

After digging as deep as I could, I can confidently say that USG Forex Broker isn’t worth patronizing.

First, it’s not regulated by any reputable authority, which undermines its credibility.

More importantly, I found it nigh impossible to even register to use the platform.

Although it’s said to have many features like different account types, funding methods, bonuses, trading assets, and platforms, I couldn’t confirm any of this.

Naturally, I tried to get customer support to help with this issue, but it was entirely futile. I never even got a response.

If you’re still considering USG Forex Broker, I would strongly advise doing lots of research before initiating a single trade on the platform.

Further reading

Signing Up with USG Forex broker

USG Forex sign up

Sign-up process for USG Forex

Despite my best efforts, I wasn’t able to actually create an account. So, I have to rely on the information USG provides on its website.

According to them, signing up through the mobile app or on their website is a simple, five-step process:

  1. Enter your full name
  2. Add your email address
  3. Select your country of residence
  4. Add a mobile phone number
  5. Click “Submit”

After registering, you’ll be prompted to verify your account. This will involve:

  1. Logging in to your account on the website
  2. Navigating to your profile
  3. Filling in the required information (personal details, identification documents, and proof of address)
  4. Following up on any extra steps

Further reading

USG Forex Broker Dashboard

As mentioned already, I could never get through the registration process, or even get help with it.

That means the best I can do is imagine what the USG dashboard looks like. I’m sure it features the standard elements like trading history, price charts, and a news feed – but I have no way of knowing for sure.

Further reading

Deposits and Withdrawals on USG Forex broker

USG Forex deposit options

Depositing funds on USG Forex

USG Forex Broker allegedly offers various deposit and withdrawal options. Without being able to test it out myself, here’s the information I could gather online.

Deposit

USG users can apparently fund their accounts using the following deposit methods:

  • Bank Wire Transfers (processed in 3 business days)
  • E-Wallets (instant)
  • Credit and Debit Cards (up to 10 minutes)
  • Cryptocurrencies (up to 10 minutes)

USG Forex withdrawal

Withdrawing funds on USG Forex

Withdrawals

USG claims to offer the same methods for withdrawing funds from your account:

  • Bank Wire Transfers (might accrue fees)
  • E-Wallets (faster withdrawals and lower fees than wire transfers)
  • Credit and Debit Cards (can have withdrawal limits)
  • Cryptocurrencies (low fees)

Further reading

Trading Conditions on USG Forex

Trading Conditions on USG Forex

Trading conditions on USG Forex

USG claims to offer user-friendly trading conditions for a positive experience, including:

  • Leverage of up to 1:500
  • Low spreads & slippage (5.5 pips for gold, 2.2 pips for EUR/USD)
  • More than 50 currencies (and other financial instruments)
  • Minimum deposit of $100
  • Zero deposit fees
  • 24 hour customer support

Though I’d take that last claim with a grain of salt.

Account Types

USG offers four major account types that cater to traders’ preferences, experience levels, and strategies:

USG Forex account types

Account types of USG Forex

  • Standard Account: Offers spreads from 2.2 pips
  • Mini Account: For clients who want to start small and trade in smaller lot sizes, with spreads starting at 2.8 pips
  • Pro-ECN Account: Intended for experienced traders and provides direct access to market liquidity, with spreads as low as 1.5 pips
  • VIP Account: Suitable for high-volume traders and comes with an account manager, bonuses, and personalized customer support

Further reading

How to Start Trading with USG Forex Broker

Again, I’m in the awkward position of discussing the process of using USG when all my efforts to log in were defeated.

Instead, I can run through the standard process to start trading on a brokerage platform. They’re roughly the same everywhere, so presumable you can start trading with USG (if they let you) by doing the following:

  1. Register an account and verify your identity
  2. Deposit funds into your account
  3. Install a trading terminal (such as MT4 or MT5)
  4. Analyze the trading market
  5. Plan a trading strategy
  6. Open and monitor a trade
  7. Review your performance

Further reading

Useful Tools for Traders on USG Forex

USG Forex useful tools

Here are some useful trading tools USG claims users will be able to access:

  • Economic Calendar: A schedule of financial events that can influence price movements
  • Autochartist: For pinpointing chart patterns and trading opportunities across several financial assets
  • MT4/MT5: The most popular platforms, which cater to beginner and experienced traders
  • Demo Accounts: Allows users to get a feel for the platform and practice different strategies with virtual funds
  • Copy Trading: For copying trades from more seasoned traders into your trading account
  • Risk Management Tools: Margin alerts, stop loss orders, and other tools to help safeguard capital and lock in profits

Further reading

Investing Opportunities with USG Forex

USG Forex Investing Opportunities

USG promises users access to copy trading, which lets you easily replicate the trades of successful traders based on various criteria. Its one-click copying, customization, and real-time response should make it attractive to a wide range of traders.

USG forex illustration

Further reading

USG Affiliate Program

USG Forex Affiliate Program

Affiliate Programs on USG Forex

USG has an affiliate program that enables brokers to link their MetaTrader servers to USG’s, thereby handing their clients’ orders to USG. Participants can then decide to enforce orders on their platform or forward client requests to USG.

It is a lucrative opportunity with advantages like reduced risk and transparent dealing. It also offers marketing materials like banners, social media graphics, email templates, blog posts, links, landing pages, and trackers to help affiliates be more successful.

Conclusion

Well, what can I really say about USG?

I never managed to successfully register for the platform. I couldn’t get through to their customer support team, either.

On top of that, I couldn’t ascertain the validity of its regulatory status. And while many of its features sound promising, I couldn’t try them out for myself.

So, I had to rely on the information on the site, reviews from other users, and whatever else I could piece together by looking online.

I will say that not being able to sign up and, especially, getting zero response when I reached out for help doesn’t bode well for this broker. I’m not sure how reliable a platform can be when they can’t even ensure a workable signup process or get back to people with simple queries.

Further reading

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