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January 15, 2021

Question:What happened to USGFX's website? Is the broker closed?

Answer:

Recently, the old USGFX’s website owned by the Company has been taken offline at the request of ASIC.

You can access the new website of USGFX from below.

Go to USGFX’s New Official Website

New traders of USGFX can open an account and start trading as usual from the website above.

Existing traders of USGFX can log in to their client cabinet as normal, and continue using the service without any problem.

Log in to USGFX’s Client Portal

Notice on the Old USGFX Website

Regarding the change of the website, USGFX has published the following notice.

UNION STANDARD INTERNATIONAL GROUP PTY LTD (IN LIQUIDATION)

A.C.N 117 658 349 (“the Company)

Peter Krejci and Andrew Cummins were appointed Joint and Several Voluntary Administrators of Union Standard International Group Pty Ltd on 8 July 2020.

On 3 September 2020, upon application by the Administrators, the Federal Court of Australia ordered that the Company be wound up on just and equitable grounds and that Peter Krejci and Andrew Cummins be appointed as Joint and Several Liquidators.

We note that the Australian Securities and Investments Commission (“ASIC”) has pursued an investigation and legal proceedings against the Company since late 2019. ASIC has since canceled the Company’s AFSL, and therefore can no longer offer financial services or products to clients.

As such, the Company ceased trading, effective as of the Administrators appointment on 8 July 2020, whereby clients were no longer able to enter into any new trades or positions. Clients could close out their existing positions until 7 August 2020, which timeframe has now ended. Withdrawals are suspended, they are to be dealt with through claims submitted in the Liquidation process.

Please note that the Company’s shareholder, Union Standard Group International Holdings Limited and its ultimate beneficial owner, Mr Soe Hein Minn, have refused to provide the Liquidators access and control of the MT4/5 trading platforms, and are in contempt of orders of the Federal Court of Australia. Those parties, and others acting with them, have intentionally frustrated the Liquidators efforts to administer the orderly winding up of the Company, have failed to deliver up the Company’s assets and records. Regardless, the Liquidators have secured the known assets and their investigations are continuing, in conjunction with regulatory authorities.

For more information about the new website and their service, please contact USGFX support team.

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