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USG Broker Warning
Dec 31, 2015 at 19:22
Mitglied seit Jan 22, 2010
99 Posts
Please read: https://www.financemagnates.com/forex/brokers/usg-capital-israel-is-facing-a-18-million-class-action/
To those using USG broker, let's hope they have enough capital to fund withdrawals should they lose the lawsuit.
To those using USG broker, let's hope they have enough capital to fund withdrawals should they lose the lawsuit.
Mitglied seit Dec 12, 2015
115 Posts
Mitglied seit Dec 12, 2015
115 Posts
Mitglied seit Dec 11, 2015
1487 Posts
Jan 08, 2016 at 18:21
Mitglied seit Dec 11, 2015
1487 Posts
I was reading this earlier today: 'The Australian Securities and Investments Commission (ASIC) issued on Tuesday a notice in which it warned against untruthful claims on www.usgforex.com regarding ASIC regulation. The website claims it is associated with Australian forex broker Union Standard International Group, which is regulated by the ASIC.
Union Standard, however, said it is not linked to the website in any way. The watchdog added it does not regulate the services provided by www.usgforex.com.' (https://theforexreview.com/2015/12/22/asic-warns-against-fake-unit-of-union-standard/) and I am a little confused now. One is USG Capital and the other is USG Forex, but are they connected in some way or is it just a coincidence that they're named so similarly?
Union Standard, however, said it is not linked to the website in any way. The watchdog added it does not regulate the services provided by www.usgforex.com.' (https://theforexreview.com/2015/12/22/asic-warns-against-fake-unit-of-union-standard/) and I am a little confused now. One is USG Capital and the other is USG Forex, but are they connected in some way or is it just a coincidence that they're named so similarly?
Mitglied seit Mar 14, 2016
11 Posts
Mar 14, 2016 at 07:37
Mitglied seit Mar 14, 2016
11 Posts
Hi, here is to solve your problem.
www.usgfx.com is Union Standard International Group = USGFX, which is regulated by ASIC
Now, www.usgforex.com is not USGFX, USGFX only holds one official website, www.usgfx.com
As for USG Capitial, I've never heard of tbh.
So, before you start any kind of collaboration with a broker, you must study their regulator etc etc.
Message if you and related questions :)
www.usgfx.com is Union Standard International Group = USGFX, which is regulated by ASIC
Now, www.usgforex.com is not USGFX, USGFX only holds one official website, www.usgfx.com
As for USG Capitial, I've never heard of tbh.
So, before you start any kind of collaboration with a broker, you must study their regulator etc etc.
Message if you and related questions :)
Mitglied seit Dec 11, 2015
1487 Posts
Apr 26, 2016 at 09:40
Mitglied seit Dec 11, 2015
1487 Posts
A district court in Israel’s capital Tel Aviv has ruled in favor of the local forex broker USG Capital. It said algorithmic trading is not portfolio management and does not require additional license, reports the website Bizportal.co.il. The decision comes after the country’s financial watchdog, the Israel Securities Authorities (ISA), has stated that companies who offer computerized portfolio management services, such as algorithmic trading, are violating the law, if they don’t have a specific license. (Source: https://smnweekly.com/2016/04/18/israeli-court-rules-in-favor-of-usg-capital-no-extra-license-for-algo-trading-is-required/)
I am not sure how that relates to the class-action lawsuit, however. Does it mean it will be thrown out now? Or does the complaint about the unlawful commissions and fees still stand?
I am not sure how that relates to the class-action lawsuit, however. Does it mean it will be thrown out now? Or does the complaint about the unlawful commissions and fees still stand?
Mitglied seit Feb 22, 2011
4862 Posts
Apr 26, 2016 at 13:35
Mitglied seit Feb 22, 2011
4862 Posts
I do not have any experience with this broker.
But there were many accounts here on MFB with unrealistic profit.
Majority of them were on this broker...
But there were many accounts here on MFB with unrealistic profit.
Majority of them were on this broker...
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