USG Forex: Is This Another Scam Broker or Not?

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.

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

Evaluating High Impact Factors

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.

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

Verified Office Address

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

Regulation and Security

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).

Expert Opinion on USG Forex Broker

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.

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.

Signing Up with USG Forex broker

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

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.

Deposits and Withdrawals on USG Forex broker

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)

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)

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:

• 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

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

Useful Tools for Traders on USG Forex

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

Investing Opportunities with USG Forex

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 Affiliate Program

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.