USGFX has been bankrupt for nearly three years. Recently, Huiyou complained that it was unable to withdraw more than 90,000 Australian dollars on the USGFX platform.
USGFX UK No Longer Holds FCA License
USGFX was founded in 2006 and declared bankruptcy on July 8, 2020, in Australia, after which, USGFX’s AFS license in Australia was officially suspended less than a month later. On September 14 of the same year, USGFX’s AFS license was officially canceled.
USGFX had informed clients that they could transfer their accounts originally under ASIC supervision to the UK FCA or Vanuatu VFSC supervision according to notices within their accounts, but many clients fed back that USGFX had not processed their withdrawal requests in recent years. Later, the company canceled its VFSC license. USGFX UK’s FCA license also lapsed. By this point, the broker was not authorized by any regulator and also received a warning from the FCA on Dec. 29.
Searching for USGFX on Google shows that there has been an endless stream of exposure and complaints about USGFX.
Before choosing a broker, many investors know the importance of reviewing platform regulatory licenses, but don’t think that everything will be fine after the first step of reviewing! You must know that the regulatory information of traders may change at any time. In order to ensure the safety of their own accounts, investors still need to continue to pay attention to their regulatory dynamics.