USGFX Australia went bankrupt in July 2020, with the company’s administrators BRI Ferrier still sorting things out.
Union Standard International Group Pty Ltd
The group’s offshore website has been changed from usgfx.global to usgforex.com, as the company looks to drop the “USGFX” brand.
USGFX’s shareholder accused BRI Ferrier of instructing the First Bank in Puerto Rico to freeze USGFX Global’s accounts there.
USGFX Global accuses BRI of abusing its power, by instructing First Bank in Puerto Rico to freeze USGFX Global’s accounts.
USGFX shareholder Soe Hein Minn is actively attempting to prevent the liquidator from dealing with the company’s affairs.
MetaQuotes have indicated that they are not prepared to arrange for the transfer of USGFX’s MT4 and MT5 licenses.
The license is a “Category 1” license, enabling USGFX-South Africa to engage in transactions in derivative instruments as an intermediary.
The story of the bankruptcy of Australian Retail FX broker USGFX just got stranger. And, potentially, a lot bigger.
We had reported back in mid July that ASIC had suspended USGFX-Australia’s license after the company was put into voluntary administration.
Maxi EFX operated the EuropeFX brand in Australia, and acted as a representative of now-bankrupt USGFX Australia.