USG UK Reports Annual Revenues of £1.27 Million

The troubled forex broker United Strategic International Limited (formerly known as Union Standard International Group or USGFX) has released the financial metrics of its FCA-regulated UK business USG UK for FY 2021, ending on March 31, showing a total revenue of £1.27 million.

The latest release was the first full year reporting of USG UK, which launched its services in January 2020 and generated £63,064 in revenue that year.

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Net profit in 2021 was £93,830, while in the previous year the broker reported a loss of £347,572.

USGFX shuttered its Australian operations in 2020, but continued its operation under the company's international subsidiaries. In order to distance itself from the now-tainted USGFX brand which is facing lodged creditor claims of more than $350M​ as Fazzaco reported earlier, the broker even moved its headquarters from Australia to the United Kingdom and rebranded last year.

"Clients are namely from the United Kingdom, but the firm also offers its services to other 3rd country jurisdictions in compliance with FCA and ESMA guidelines," the broker stated in its filing. "The firm will continue to grow the business organically, building the client base and further improving the client on-boarding experience and entire customer journey."

"Going forward we plan to enhance our processes, the customer journey, the spreads we offer across all markets. We look to maintain and build relationships with trusted partners who will play a vital role in improving the services we offer to our clients."