CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 62% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading involve leveraged products, and your capital is at risk.
USGFX is a multi-award-winning Australian FX and CFD broker who provide clients with access to fast and efficient trading across a wide range of asset classes including currency pairs, indices, and commodities. Headquartered in Sydney, USGFX has steadily grown to be one of the most prominent rising stars in the Asia-Pacific region. It has boosted recently through a high-profile sponsorship with English Premier League team Sheffield United.
USGFX Fees
4
The commissions and fees you incur on your trades will generally depend on the type of account you have. The basic account has a minimum deposit of $100 and spreads start from 2.8 pips. The next account level up requires a $10,000 minimum deposit, with the next step up requiring $50,000. The spreads on these start at 1.5 pips and 1.3 pips respectively, which while not the highest we have seen on the market, aren’t necessarily competitive—especially given the high minimum deposits. The basic account represents the worst value of the three and doesn’t seem to keep pace with other brokers.
Trading Platforms
4
Trading is delivered primarily via the MetaTrader 4 and MetaTrader 5 trading platforms. For both versions, both desktop and mobile-friendly versions are available, and the standard of trading is every bit as good as we have come to expect from the MetaTrader crew. Additionally, there is also a multiterminal option for more advanced traders, along with a proprietary Webtrader. Social trading options are available on USGFX via ZuluTrade or MyFxBook. In our experience, the platform and website themselves were straightforward to use and intuitive.
Customer Service
5
Although customer service can often be a make or break point for many mid-tier brokerages out there, this doesn’t seem to be the case for USGFX. In fact, customer support is one of USGFX’s strongest aspects and they have proven to be an industry leader of sorts. Each investor is assigned a personal account manager from the firm to help manage their account. And in addition, 24 hour a day customer service support is provide through their network of offices around the world. The website also supports a number of languages as standard, which increases its overall accessibility.
Address: 135 Macquarie Street, Sydney, NSW 2000, Australia
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