USMiningGroup is a forex and CFD broker that offers a trading platform for cryptocurrencies and mobile banking services. This broker claims to offer a user-friendly and reliable trading platform to its clients. However, our investigation shows that US Mining Group is a scam broker, which is why we have compiled this review.
Company Overview
| Broker Name | USMiningGroup |
| Website | https://usmininggroup.com/ |
| Location | USA |
| Regulation | Not regulated |
| Traders’ review | Negative |
Team
We searched for the team members, managers, owners, and other personnel of USMiningGroup but couldn’t find any information on their website. When we entered the about us page, we see a bunch of words, nothing much details about them or their team.
Services and Products
USMiningGroup offers trading services in cryptocurrencies. They also claim they provide next-generation mobile banking services. Though we did not get any proof of their services.
Trading Platform
USMiningGroup offers its clients an application-based crypto exchange platform. But, they don’t have any web version for this. You have to download the app and then you can use this.
License and Regulation
USMiningGroup claims to be a licensed and regulated broker. However, our investigation shows that this broker is operating illegally and is not licensed by any financial regulator.
License Status
We couldn’t find any information about USMiningGroup’s license on its website or the website of any financial regulators. On their “About Us” page, they claim they have a Virtual Currency Service Provider License from Estonian Government, but we did not find this kind of license name anywhere.
Regulation Status
USMiningGroup is not regulated by any financial regulator. They mentioned on their “About Us” page that they are regulated by 4 of the popular regulatory organizations, but we did not find the name of these. Also, when we searched the regulatory websites, we did not find any regulation confirmation.
Why Should Not You Trust An Unlicensed Broker?
Unlicensed brokers operate without any legal accountability or oversight. They have no obligation to protect their client’s funds or ensure traders’ safety. Moreover, a broker’s license is a key indicator of its legitimacy and transparency. Therefore, traders must never engage with brokers who don’t have appropriate licensing.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Legal Warnings Against USMiningGroup
This company has been flagged by several financial regulators and has received legal warnings. The Financial Conduct Authority (FCA) of the UK has warned that USMiningGroup is a scam broker that is not authorized to provide financial services in the UK. The Australian Securities and Investments Commission (ASIC) has also issued a warning against this broker.
Client Feedback About USMiningGroup
About Their Trading
Clients who have traded with USMiningGroup report multiple issues with the broker’s trading app. Clients have been unable to execute trades, and the app is often slow and unreliable. Moreover, clients report that the broker’s pricing is manipulated to the broker’s advantage, leading to unfair trading conditions.
About Their Customer Service
Clients report that USMiningGroup’s customer service is unresponsive and unhelpful. The broker’s representatives are often difficult to contact, and clients frequently have to wait for extended periods for a response. This is a clear indication of the broker’s lack of commitment to its client’s needs.
How Can Reviewsadvice Help You If You Get Scammed?
If you get scammed by USMiningGroup, you can contact us to get help. When you submit your case to us, we will evaluate the case and will give you a free consultation and service recommendations to help you in recovering the money.
Final Thought
USMiningGroup is an illegal and unregulated broker that engages in scam practices. We strongly advise traders to avoid engaging with this broker as they are at risk of losing their investments and being scammed out of their money. Traders must only engage with reputable and licensed brokers to ensure their safety and protect their investments.
