CFDs broker USGFX, reps EuropeFX and TradeFred, hit with record $300 million in fines
Investors are still trying to recover millions of dollars lost following USGFX’s collapse.
Union Standard International Group Pty Ltd
Australia court: Clients at USGFX reps EuropeFX and TradeFred lost $83M
Onboarding at EuropeFX and TradeFred actively sought to attract customers who were inexperienced or vulnerable.
AFCA closes complaints against Union Standard International Group
The Australian Financial Complaints Authority (AFCA) has dashed the hopes for compensation of the victims of Union Standard International Group Pty Ltd (USG).
AFCA to review complaints against Union Standard International Group
AFCA will now review complaints against insolvent financial firms and other complaints that have been on pause.
USGFX director John Martin banned for 10 years
USGFX Australia went bankrupt in July 2020, with the company’s administrators BRI Ferrier still sorting things out.
USGFX parent rebranding as Union Strategic (and USGForex.com)
The group’s offshore website has been changed from usgfx.global to usgforex.com, as the company looks to drop the “USGFX” brand.
Exclusive: Liquidators reply to USGFX Global accusations
USGFX’s shareholder accused BRI Ferrier of instructing the First Bank in Puerto Rico to freeze USGFX Global’s accounts there.
USGFX offshore parent accuses liquidator BRI Ferrier of abusing its power
USGFX Global accuses BRI of abusing its power, by instructing First Bank in Puerto Rico to freeze USGFX Global’s accounts.
Exclusive: Bankrupt USGFX’s owner soliciting clients to new usgfx.global site
USGFX shareholder Soe Hein Minn is actively attempting to prevent the liquidator from dealing with the company’s affairs.
USGFX bankruptcy liquidators: little progress, MetaQuotes blocking server sale
MetaQuotes have indicated that they are not prepared to arrange for the transfer of USGFX’s MT4 and MT5 licenses.
