What is FXTRADING.com？

FXTRADING.com is an online brokerage firm that offers trading services for various financial instruments such as forex, cryptocurrencies, shares, commodities, spot metals, energies, and indices. The company was established in 2014 and is headquartered in Sydney, Australia. FXTRADING.com is regulated by the Australian Securities and Investments Commission (ASIC). The broker provides its clients with a range of trading platforms including MetaTrader4 (MT4) and IRESS, and offers several trading tools and educational resources. FXTRADING.com also has a 24/5 customer support team that can be reached via phone, email, and live chat.

Pros & Cons

FXTRADING.com has a lot of advantages, including a wide range of trading instruments, reliable trading platforms, and a variety of trading tools and educational resources. The broker also offers several account types to cater to different trading needs, and its customer support team is available 24/5 to assist clients.

However, there are some disadvantages to consider, such as high minimum deposit requirements for some account types.

Please note that the above table is not exhaustive and may not include all the pros and cons of FXTRADING.com.

Regulatory Status

FXTRADING.com is a regulated and licensed broker.

GLENEAGLE SECURITIES (AUST) PTY LIMITED is authorized and regulated by the Australia Securities & Investment Commission (ASIC), holding a Market Making license under license no. 337985.

GLENEAGLE ASSET MANAGEMENT LIMITED is authorized and regulated by the Australia Securities & Investment Commission (ASIC), holding a Market Making license under license no.226199.

Gleneagle Securities Pty Limited, is authorized and regulated by the Vanuatu Financial Services Commission (VFSC), holding a Retail license under license no.40256.

How are you protected？

Note that this table is not exhaustive and there may be other protections or security measures in place at FXTRADING.com.

Our Conclusion on FXTRADING.com Reliability:

Based on the provided information on FXTRADING.com, the broker seems to prioritize its clients' safety and security by implementing various measures such as regulation by top-tier authorities, account segregation, negative balance protection, and SSL encryption. Overall, FXTRADING.com appears to be a reliable broker for traders.

However, as with any investment, there is always some level of risk involved, and it is important for traders to do their own research and carefully consider their options before investing.

Market Instruments

FXTRADING.com offers a diverse range of trading instruments for their clients, covering over 10,000 instruments. These instruments include Forex, Crypto CFDs, Share CFDs, Commodities, Spot Metals, Energies, and Indices. Clients have access to a variety of popular trading pairs in the forex market, as well as a selection of cryptocurrencies and share CFDs from leading global companies.

Additionally, they offer various spot metals such as gold and silver, as well as energies like crude oil and natural gas, and indices from around the world. This variety of instruments allows clients to diversify their trading portfolio and take advantage of different market opportunities.

Accounts

Demo Account: FXTRADING.com provides a demo account that allows you to try out the financial markets without the risk of losing money.

MT4 Live Account: FXTRADING.com offers a total of 2 account types: Standard and Pro. The minimum deposit to open an account is $200 and $500 respectively. If you are still a beginner and don't want to invest too much money in Forex trading, a Standard account will be the most suitable option for you. However, we should also realize that too little capital not only reduces losses, but also reduces profitability. Therefore, you may find it “unexciting” or unprofitable. In addition, accounts with smaller initial deposits tend to have poorer trading conditions.

IRESS Live Account: On the TRESS trading platform, FXTRADING.com offers three different accounts types, namely Silver, Gold, and Platinum, with minimum deposit requirements of $10,000 AUD, $50,000 AUD, and $100,000 AUD respectively. For the Silver and Gold accounts, there is a platform fee of $60 AUD, while no platform fee on the Platinum account.

Leverage

FXTRADING.com offers a maximum leverage of up to 1:500, which is a generous offer and ideal for professional traders and scalpers. However, since leverage can magnify your profits, it can also result in a loss of capital, especially for inexperienced traders. Therefore, traders must choose the right amount according to their risk tolerance.

Spreads & Commissions

The spreads and commissions depend on accounts and instruments. For clients on the Standard account, they can have variable spreads from 1 pip and there is no commission, while for clients on the Pro account, they can enjoy raw spreads from 0 pips but have to pay a commission of $3.5 per lot.

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

Note: Spreads can vary depending on market conditions and volatility.

Trading Platforms

FXTRADING.com offers a range of trading platforms to suit the needs of its clients. One of the most popular platforms is the MetaTrader4 (MT4) platform, which is available for PC, Mac, iOS, Android and WebTrader. MT4 is a user-friendly platform that comes with advanced charting tools, technical indicators, and automated trading options.

In addition to MT4, FXTRADING.com also offers IRESS ViewPoint and IRESS Mobile, which are more advanced platforms designed for professional traders. These platforms come with additional features such as advanced order types, news and research, and real-time market data.

Overall, FXTRADING.com's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:

Trading Tools

FXTRADING.com provides its clients with a wide range of trading tools to enhance their trading experience. These tools include FXT Navigator, which allows traders to view market data and analyze it through a customizable interface. Trading Central offers daily technical analysis and market insights, while the Economic Calendar provides traders with the latest economic news and announcements that can impact the financial markets. Market Sentiment offers a view on how other traders are positioned on various instruments, while API Trading and VPS are advanced tools designed for more experienced traders who use algorithmic trading strategies and need reliable and fast connectivity. Overall, these trading tools can help traders make more informed trading decisions and improve their overall performance in the financial markets.

Deposits & Withdrawals

In terms of deposit and withdrawal, like many good brokers, FXTRADING.com provides a detailed form with important information about currency, payment method, minimum amount, arrival date, fees, etc. Deposits include PayPal, VISA, MasterCard, Neteller, UnionPay, Local Internet Banking, POLi, International Bank Wire Transfer and Local Bank Transfer.

FXTRADING.com minimum deposit vs other brokers

The minimum deposit requirement is $200 to open an account. Most deposits are instant and no fees are charged.

By contrast, Clients can withdraw with PayPal, VISA, MasterCard, Neteller, International Bank Wire Transfer, UnionPay and Local Bank Transfer. Please note that withdrawal processing times may vary depending on the selected method and any applicable fees or restrictions may apply. Most withdrawals can be processed in 24 hours without any fees.

FXTRADING.com Money Withdrawal

To withdraw funds from FXTRADING.com, you can follow these steps:

Step 1: Log in to your account on the FXTRADING.com website.

Step 2: Click on the “Withdrawal” button in the “My Account” section.

Step 3: Select the account you want to withdraw funds from and choose the withdrawal method.

Step 4: Enter the amount you wish to withdraw and follow the on-screen instructions to complete the process.

Fees

FXTRADING.com does not charge any deposit and withdrawal fees, but there may be additional fees charged by banks or other intermediaries involved in the transfer of funds.

There is an inactivity fee of $10 per month after 6 consecutive months of inactivity. This fee will be charged to any account with no trading activity for more than 6 months. However, it's important to note that this fee is subject to change and may vary depending on the type of account and the jurisdiction of the client.

See the fee comparison table below:

Note: Fees may vary depending on account type and payment method. Please refer to each broker's website for the latest information.

Customer Service

FXTRADING.com offers customer support 24/5 via email, phone, and live chat. It supports both English and Chinese. Their website also includes a FAQ section with answers to commonly asked questions. You can also follow them on some social networks including Facebook, Twitter, LinkedIn, Instagram and Twitter.

Overall, FXTRADING.com's customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Note: These pros and cons are subjective and may vary depending on the individual's experience with FXTRADING.com's customer service.

Educational Resources

FXTRADING.com offers a range of educational resources to help traders improve their knowledge and skills. The Market News section provides the latest updates on market events and trends, while the FXT Analysis section offers expert analysis and commentary. The Trading Insight section contains a variety of educational materials, including trading strategies and tutorials on technical and fundamental analysis. The FXT Navigator Guide is a comprehensive guide for traders on how to use the platform's features and tools. Additionally, FXTRADING.com offers webinars hosted by industry experts, providing traders with the opportunity to learn directly from experienced professionals.

Conclusion

In conclusion, FXTRADING.com is a well-regulated broker offering a wide range of trading instruments, powerful trading platforms, and comprehensive trading tools and resources. The broker's low spreads, flexible leverage options, and multiple account types cater to traders of all levels. The customer support team is professional and responsive, and the educational resources are valuable for beginner and experienced traders alike. While there are some fees associated with trading, overall, FXTRADING.com provides a competitive and reliable trading environment.

Frequently Asked Questions (FAQs)

Risk Warning

Online trading carries substantial risk, potentially leading to the total loss of invested funds. It may not be appropriate for all traders or investors. It's crucial to fully comprehend the associated risks before engaging in trading activities. Additionally, the content of this review is subject to change, reflecting updates in the company's services and policies. The review's creation date is also relevant, as information could have become outdated. Readers should confirm the latest information with the company prior to making any investment decisions. The responsibility for utilizing the information provided herein lies exclusively with the reader.

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.