SHYING Company

Shying Forex Broker - Complete Information Guide

1. Broker Overview

Shying Global Limited, established in 2020, is a forex brokerage firm headquartered in Hong Kong. The company operates as a private entity and primarily serves retail traders, with a significant influence in regions like Ukraine. Since its inception, Shying has aimed to provide accessible trading solutions for both novice and experienced traders in the forex market.

The development of Shying has been marked by its adoption of the MetaTrader 4 (MT4) trading platform, which is well-regarded in the industry for its user-friendly interface and comprehensive trading tools. Despite being a relatively new player in the market, Shying has quickly established itself by focusing on delivering a streamlined trading experience and effective customer support.

The company operates under a business model that primarily focuses on retail forex trading, offering various trading products and services. As part of its growth trajectory, Shying has been actively expanding its market reach and enhancing its service offerings to meet the evolving needs of its clientele.

2. Regulatory and Compliance Information

Shying operates under the oversight of several regulatory bodies, although it is important to note that its regulatory status has been a subject of scrutiny. The primary regulators associated with Shying include:

• Financial Conduct Authority (FCA) - License Number: 730729
• National Futures Association (NFA) - License Number: 0531292

These regulatory bodies ensure that the broker adheres to certain operational standards and provides a level of security for its clients. However, concerns have been raised regarding Shying's status as a potential clone of other regulated entities, necessitating careful evaluation by potential investors.

Shying implements client fund protection measures by maintaining segregated accounts, ensuring that clients funds are kept separate from the company's operational funds. This practice is crucial in safeguarding investor capital in the event of financial difficulties faced by the broker.

Additionally, Shying follows Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance protocols to prevent fraudulent activities and ensure that all clients are verified before they can engage in trading activities.

3. Trading Products and Services

Shying offers a diverse range of trading products to cater to the needs of its clients. The primary offerings include:

• Forex Currency Pairs: Shying provides access to a variety of currency pairs, including major, minor, and exotic pairs. The exact number of available currency pairs is not specified, but the broker focuses on popular trading options to enhance liquidity and trading opportunities.

• CFD Products: The broker offers Contracts for Difference (CFDs) across various asset classes, including indices, commodities, stocks, and cryptocurrencies. This allows traders to speculate on price movements without owning the underlying assets.

• Special Products: While specific unique products were not detailed in the sources, Shying's commitment to expanding its product range is evident. The broker aims to update its offerings regularly, adapting to market trends and client demands.

• Retail Trading Services: Shying focuses heavily on retail trading, providing tools and resources that empower individual traders to make informed decisions.

• Institutional Client Services: Although primarily targeting retail clients, Shying may offer services for institutional clients, highlighting its versatility in catering to different market segments.

• White Label Solutions: Shying may also provide white label solutions for other businesses, allowing them to offer trading services under their brand using Shying's technology and infrastructure.

4. Trading Platforms and Technology

Shying utilizes the MetaTrader 4 (MT4) platform, which is known for its extensive features and customization options. The platform supports desktop trading, allowing users to access their accounts via personal computers. However, it is important to note that Shying does not offer a proprietary trading platform, relying instead on the well-established MT4 system.

The broker provides a web-based trading platform for users who prefer to trade without downloading software. This platform is designed to be user-friendly and accessible from various devices.

For mobile trading, Shying supports the MT4 mobile application, which is compatible with both iOS and Android devices. This enables traders to manage their accounts and execute trades on the go, enhancing flexibility and convenience.

Shying operates its trading infrastructure with servers located in Japan, ensuring low-latency trading experiences for its clients. The broker supports various execution models, primarily focusing on market making, which allows for quick order execution and competitive pricing.

API access for automated trading is also available, catering to traders who wish to implement algorithmic trading strategies.

5. Account Types and Trading Conditions

Shying offers several account types to accommodate different trading preferences and strategies. The key features of these accounts include:

• Standard Account: This account type typically requires a minimum deposit, with competitive spreads and no commission fees. Specific details regarding the minimum deposit and spreads were not provided in the sources.

• Advanced Accounts: Shying may offer advanced account types, such as VIP or professional accounts, which cater to experienced traders looking for enhanced trading conditions. These accounts usually come with lower spreads and higher leverage options.

• Special Accounts: Options like Islamic accounts for traders requiring Sharia-compliant trading conditions may also be available, although specific details were not found.

• Demo Account Policy: Shying provides a demo account for traders to practice their strategies without risking real money. This is an essential feature for beginners looking to familiarize themselves with the trading platform and market dynamics.

• Leverage Range: The maximum leverage offered by Shying varies by account type and product, allowing traders to choose leverage levels that suit their risk tolerance.

• Minimum Trade Size: The broker typically allows for low minimum trade sizes, making it accessible for traders with varying capital levels.

• Overnight Fees: Shying applies overnight fees for positions held beyond the trading day, although specific rates were not disclosed in the available information.

6. Fund Management

Shying supports a variety of funding methods to facilitate deposits and withdrawals for its clients. Key aspects of its fund management include:

• Supported Deposit Methods: Clients can deposit funds via bank transfers, credit cards, and electronic wallets, offering flexibility in how they manage their trading capital.

• Minimum Deposit Requirements: The minimum deposit varies by account type, allowing traders to select an account that fits their budget.

• Deposit Processing Times: Deposits are generally processed quickly, though specific timeframes were not detailed in the sources.

• Deposit Fees: Information regarding any deposit fees was not provided, indicating that traders should verify this directly with the broker.

• Withdrawal Methods and Restrictions: Shying allows for various withdrawal methods, but specific details on withdrawal limits and processing times were not readily available.

• Withdrawal Processing Times: Withdrawals are typically processed within a reasonable timeframe, although exact durations were not specified.

• Withdrawal Fee Structure: The fee structure for withdrawals was not detailed, suggesting that clients should inquire about any potential fees when initiating a withdrawal.

7. Customer Support and Educational Resources

Shying offers customer support through multiple channels to assist its clients effectively. Key features of its support services include:

• Support Channels: Clients can reach customer support via phone, email, and online chat, ensuring that assistance is readily available.

• Service Hours and Time Zone Coverage: The specific service hours were not detailed, but Shying aims to provide support that accommodates its global client base.

• Multilingual Support: Shying's customer service is available in multiple languages, including English, catering to its diverse clientele.

• Educational Resources: The broker provides various educational materials, including webinars, tutorials, and e-books, to help traders enhance their knowledge and skills.

• Market Analysis Services: Shying offers daily market analysis, news updates, and research reports to keep clients informed about market trends and opportunities.

• Trading Tools: Clients have access to various trading tools, such as calculators and economic calendars, to assist them in making informed trading decisions.

8. Regional Coverage and Restrictions

Shying primarily serves clients in various regions, with a focus on markets where forex trading is prevalent. Key aspects of its regional coverage include:

• Primary Service Markets: The broker has a significant presence in regions like Ukraine, reflecting its focus on emerging markets.

• Regional Office Distribution: Shying's operations are primarily based in Hong Kong, with potential outreach to other regions through online platforms.

• Countries/Regions Not Accepted: Specific details regarding countries or regions from which clients are not accepted were not provided, indicating that potential clients should verify their eligibility.

• Special Restrictions: Any additional restrictions on trading activities or account openings were not disclosed in the available information, suggesting that clients should consult with the broker for comprehensive details.

In conclusion, Shying broker presents a range of trading options and features aimed at both novice and experienced traders. While it operates under several regulatory bodies, potential clients should conduct thorough research and consider the broker's compliance status before engaging in trading activities.