Exclusive: USGFX gets South Africa FSCA license
The license is a “Category 1” license, enabling USGFX-South Africa to engage in transactions in derivative instruments as an intermediary.
Union Standard International Group Pty Ltd
USGFX bankruptcy update: $14M missing with UPay, $137M deposit claims
The story of the bankruptcy of Australian Retail FX broker USGFX just got stranger. And, potentially, a lot bigger.
USGFX Australia has license revoked by ASIC
We had reported back in mid July that ASIC had suspended USGFX-Australia’s license after the company was put into voluntary administration.
USGFX Australia rep EuropeFX hit with document disclosure court order
Maxi EFX operated the EuropeFX brand in Australia, and acted as a representative of now-bankrupt USGFX Australia.
Exclusive: USGFX bankruptcy discussions began in late June
New disclosures made by administrators-turned-liquidators BRI Ferrier shed more light on what happened at USGFX leading up to July 8.
USGFX administrators get their immediate liquidation order
We understand that the administrator is still pursuing a sale of USGFX’s assets, including (primarily) its client list.
Exclusive: USGFX put into immediate liquidation due to uncooperative shareholder
USGFX shareholder Soe Hein Minn is refusing administrator requests for access to the bankrupt company’s MT4 and MT5 platforms.
USGFX administrators selling client list, as creditor claims climb
BRI Ferrier are already embarking on a due diligence phase with potential buyers for bankrupt USGFX’s business and assets – mainly, its client list.
Exclusive: USGFX creditors claim $30M owed, versus $6M assets
Claims allege that USGFX provided a service to hold client funds in Australian bank accounts and earn interest, rather than for trading purposes.
Exclusive: USGFX applying for Cyprus CySEC license
USGFX’s CySEC license application is reported to be in “final stages”, although apparently it has been delayed due to Covid-19 related administrative issues in Cyprus.
