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Retail FX

Union Standard International (Previously USGFX) Loses FCA Licenses

  • The license was withdrawn on 16 December 2022.
  • The broker still operates with an offshore license.
Thursday, 29/12/2022 | 10:28 GMT by Arnab Shome
Executive Moves

Damian McDowell Steps Down as USGFX-UK CEO

  • His appointment as a Director ended on Wednesday.
  • His successor for the role is yet to be named.
Thursday, 17/11/2022 | 08:25 GMT by Arnab Shome
Brokers

USG UK Turns Profits in FY21, Generates £1.27 Million in Revenue

  • The broker was previously operating under the brand USGFX.
  • It was the first full-year financials from its UK operations.
Friday, 01/04/2022 | 04:28 GMT by Arnab Shome
Brokers

USGFX Administrator Receives AU$357 Million in Creditors Claims

  • Only AU$8 million in broker’s funds are currently available.
  • The administrator is now attempting to recover the offshore assets of the broker.
Tuesday, 25/01/2022 | 11:56 GMT by Arnab Shome
Brokers

Aussie Dispute Resolution Agency Expels USGFX Membership

  • The membership was expelled on November 11.
Wednesday, 01/12/2021 | 04:49 GMT by Arnab Shome
Executive Moves

USGFX UK CEO Simon Quirke Leaves the Company

  • Quirke joined the company in 2018 and previously worked at Credit Suisse and Lehman Brothers.
Friday, 25/06/2021 | 16:46 GMT by Felipe Erazo
Executive Moves

United Strategic International (Previously USGFX) Owner Rejoins as Director

  • He previously stepped down from the position of Director last October.
Thursday, 03/06/2021 | 08:46 GMT by Arnab Shome
Regulation

ASIC Bans USGFX Director John Martin for 10 Years

  • He did not have a clear understanding of the compliance rules.
Tuesday, 01/06/2021 | 06:23 GMT by Arnab Shome
Brokers

USGFX Parent Rebrands FX Business to United Strategic International

  • The group is distancing itself from the tainted USGFX brand.
Tuesday, 04/05/2021 | 10:46 GMT by Arnab Shome
Brokers

BRI Ferrier Denies Role in Shutting USG Global’s Bank Accounts

  • The liquidator earlier said the broker’s shareholders are causing trouble with its investigation.
Thursday, 11/02/2021 | 12:07 GMT by Arnab Shome
Brokers

USGFX Assets in Puerto Rico Frozen on Liquidator Request

  • USGFX accused BRI of abusing their power after they instructed First Bank in Puerto Rico to freeze accounts of USG Global.
Monday, 08/02/2021 | 15:40 GMT by Aziz Abdel-Qader
Brokers

Court Justifies USGFX Liquidator’s Move of Not Closing Open Positions

  • The liquidator did not receive co-operation from the shareholders of the broker.
Monday, 21/12/2020 | 12:02 GMT by Arnab Shome
Brokers

USGFX Vanuatu Faces Troubles in Refunding Aussie Clients

  • The brokerage is now planning to issue a full refund by March.
Friday, 04/12/2020 | 11:06 GMT by Arnab Shome
Brokers

USGFX Owner Hien Min Soe Parts from New London Headquarters

  • The administrator blamed him for the company’s troubles.
Wednesday, 07/10/2020 | 08:36 GMT by Arnab Shome
Brokers

ASIC Cancels AFS Licence of USGFX after Entering Liquidation

  • ASIC cancelled the FX broker’s licence on the 14th of September 2020.
Friday, 18/09/2020 | 05:52 GMT by Celeste Skinner
Brokers

USG UK Confirms Group Headquarters Will Be Moved to London

  • The headquarters will be moved following the demise of USGFX in Australia.
Friday, 11/09/2020 | 05:29 GMT by Celeste Skinner
Brokers

Court Orders USGFX Enter Liquidation, BRI Ferrier Remains as Liquidators

  • USGFX applied to the Federal Court of Australia to have an alternate liquidator appointed to the broker.
Monday, 07/09/2020 | 09:32 GMT by Celeste Skinner
Brokers

USGFX to Enter Liquidation as Shareholders Remain Unhelpful

  • The external administrator earlier raised concerns over the broker’s financials.
Monday, 31/08/2020 | 13:17 GMT by Arnab Shome
Brokers

USGFX Administrators Have Real Concerns Over True Financial Position

  • The amount of creditor claims far surpasses what was disclosed in USGFX’s financial records. 
Thursday, 30/07/2020 | 07:58 GMT by Celeste Skinner
Brokers

USGFX Administrators BRI Ferrier Extend Convening Period

  • The administrators have been granted an order allowing the extension of the convening period until 18 September.
Tuesday, 28/07/2020 | 10:20 GMT by Celeste Skinner
Brokers

Following USGFX Administration, USG Moves Headquarters to London

  • The Board of USG has also confirmed the resignation of USGFX’s CEO, Shay Zakhaim.
Tuesday, 21/07/2020 | 06:06 GMT by Celeste Skinner
Brokers

ASIC Suspends AFS Licence of USGFX After Voluntary Administration

  • The AFSL of USGFX has been suspended under section 915B of the Corporations Act 2001.
Tuesday, 21/07/2020 | 00:43 GMT by Celeste Skinner
Executive Moves

USGFX CEO Shay Zakhaim Steps Down as BRI Ferrier Took Over

  • He was in the apex position of the company for almost 6 years.
Wednesday, 15/07/2020 | 12:37 GMT by Arnab Shome
Regulation

Breaking: USGFX Enters into Voluntary Administration

  • BRI Ferrier has been appointed as the administrator.
Thursday, 09/07/2020 | 03:03 GMT by Celeste Skinner
Analysis

Credit Suisse Fined, 24Option Banned From Italy: Editor's Pick

  • Stay up to date with the most interesting stories in the crypto and FX space.
Sunday, 29/12/2019 | 12:59 GMT by Ben Myers
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