How is the regulation and safety of the USGFX platform?

Many newcomers to the foreign exchange market have tradeking foreign exchange platformreported difficulty finding a reliable platform, with most failing to withdraw profits and being cheated by black platforms. The road to foreign exchange investment is full of obstacles. The top 100 forex platforms on FTI can be referred to for selection. If the platform is not within the top 100, special attention should be paid to the relationship between the principal white label and the risk warning.

Today, an investor asked the editor of this website about the USGFX platform and wanted to know whether the regulation of USGFX was safe. Whether the funds can be guaranteed on the USGFX platform and wanted to see the recent service quality and trading environment.

According to the query on FTI, this platform is called USGFX, established in 2010, ranked 778th globally, with a safety score of 70 points. The platform claims to have the UK FCA STP license, the Saint Vincent and the Grenadines FSA financial services license, and the Australian ASIC retail license. The risk scan has 196 items.

The regulatory situation of the USGFX platform can be summarized as follows:

1. USGFX was once regulated in Australia by ASIC and had a license issued by ASIC. This indicates that it once had certain regulatory qualifications.

2. However, there have been numerous complaints that USGFX has malicious slippage, refusal to withdraw funds, etc. This indicates that its regulatory and service quality may have problems.

3. It is reported that the CEO of USGFX, Shay Zakhaim, has resigned, and the platform may be transferring its regulation. This further exacerbates investors' concerns about the safety of its regulatory system. 4. In general, USGFX used to have ASIC regulation, but there have been many negative news recently, and investors have great doubts about its regulatory safety.It is recommended that investors treat it with caution and carefully evaluate the risks.Based on the above information, there are some problems with the regulatory safety of USGFX platform, and investors need to treat it with caution.It is recommended to find other foreign exchange trading platforms with more secure and reliable regulation.

 FTI comprehensive comment: In 2020, USGFX United International Australia Headquarters announced to enter the voluntary trusteeship process and begin bankruptcy liquidation on July 8.According to the statement of USGFX, this move helps the company to reorganize its assets so that it can continue to provide financial services to customers.BRI Ferrier has been appointed to be responsible for the trusteeship of the company.However, according to news reports, since last December, the Australian Securities and Investment Commission ASIC has made major accusations against USGFX: ASIC obtained a temporary order from the Sydney Federal Court, freezing the assets of EuropeFX and TradeFred, two authorized representatives of USGFX. The director of USGFX and TradeFre John Carlton Martin has also been issued an exit order by the Federal Court.

 At present, the official website can not be opened, and more complaints are not given out, which is a more serious problem and is not suitable for mass investors.

 The financial market is uneven, and there are investment risks. We only have to investigate the platform clearly before investment.Beware of thunder and fraud, and go to FTI first.

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