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BOOM Forex broker specializes in providing foreign exchange trading services, the company's official website https://trade.boom.c..., the company's legitimate regulatory information Hong KongSFCDealing in futures contracts to enhance the security of the company's address Room 2801, 28/F, Tower 1, 98 How Ming Street, Kwun Tong, Kln, Hong Kong

BOOM Forex Broker

Basic Information

Registered Region
Hong Kong
Operating Period
--
Company Name
Boom Securities (H.K.) Ltd
Abbreviation
BOOM
Company employee
--
Customer Service Email Address
service@boomhq.com
Contact Number
+85222558888
Company Website
Company address
Room 2801, 28/F, Tower 1, 98 How Ming Street, Kwun Tong, Kln, Hong Kong
Keywords
Above 20 years
Regulated in Hong Kong
Dealing in futures contracts
High potential risk

Company profile

BOOM Review SummaryFounded1997Registered Country/RegionHong KongRegulationSFCMarket InstrumentsMulti-market stocks, futures contracts, stock futures, currency futures, interest rates futures, metal futuresDemo Account❌Trading PlatformWeb, mobileMinimum Deposit0Customer SupportTel: +852 2255 8888Email: service@boomhq.comBOOM Information Boom Securities is a Hong Kong-based online broker founded in 1997 and regulated by the Hong Kong SFC (CE Number: AEF808). It offers access to global stock and futures markets through its proprietary web and mobile trading platforms, without charging deposit or withdrawal fees.Pros and ConsPros Cons Regulated by Hong Kong SFCNo demo accounts availableAccess to 12+ global stock & futures marketsInactivity fee charged for dormant accountsNo deposit or withdrawal feesIs BOOM Legit? Boom Securities (H.K.) Limited is a legitimate and regulated financial institution. It is authorized by the Securities and Futures Commission (SFC) of Hong Kong, which is a well-respected regulatory body in the financial industry. The company holds a Dealing in futures contracts license with the license number AEF808.What Can I Trade on BOOM? Boom Securities offers a variety of trading instruments including U.S. stocks, Hong Kong and global futures, covering indexes, currencies, interest rates, commodities, energies, and metals.Tradable Instruments Supported Currencies✔Commodities✔Indexes✔Stocks✔ETFs✔Cryptocurrencies❌Bonds❌Options❌Account Type Boom Securities offers a total of 4types of live trading accounts: Individual/Joint Accounts, Corporate Accounts, Margin Accounts, and Cash Accounts. Each account is designed to suit different types of traders, from personal investors and corporate entities to active U.S. day traders.Account TypeFeatureSuitable forIndividual/JointFor individual use or jointly owned by two peoplePersonal investorsCorporateDesigned for companies to manage trading operationsBusinesses or institutionsMarginEnables flexible trading with the ability to use unsettled fundsActive or day traders in U.S. stocksCashTrades only with settled cash; no margin or unsettled proceeds can be usedConservative or long-term investorsBOOM Fees Boom Securities fee structure is transparent and generally competitive compared to industry standards. The broker does not charge hidden spreads or high platform fees, and many essential services (like deposits, withdrawals, and statements) are free of charge. However, some real-time data and corporate services may incur moderate fees.MarketCommission FeesU.S. EquitiesUSD 20 per tradeHong Kong Stocks0.18% per tradeGlobal Markets0.50% or lower per trade Non-Trading FeesNon-Trading Fees AmountDeposit Fee 0Withdrawal Fee 0Inactivity Fee HKD 200 (Individual/Joint) HKD 1,000 (Corporate)Trading PlatformTrading PlatformSupported Available Devices Web Trading Platform✔Desktop / Web BrowserMobile Trading App✔iOS & Android devicesDeposit and Withdrawal Boom Securities does not charge any fees for deposits or withdrawals. There is no minimum deposit or withdrawal amount, except for eDDA deposits, which have a minimum of HKD 200.Deposit OptionsDeposit Options Minimum DepositDeposit Fees Deposit Processing Time eDDA (Electronic Direct Debit)HKD 2000Within 5 minutes (under normal conditions)FPS / Internet / Phone Banking / ATM0Same day during business hoursBank Transfer / Telegraphic TransferVaries by bankCheque / Bank Draft/Withdrawal OptionsWithdrawal Options Minimum Withdrawal Withdrawal Fees Withdrawal Processing Time To Designated Bank Account00Same day if before 12:00 PM HK timeWithdrawal by ChequeSame dayTransfer to Other Bank Accounts Processed upon approval of instruction

Rating Index

How to login to BOOM?
Boom Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a Boom Account Registering for a Boom account is the first step toward accessing a wide range of trading services. Below are the detailed steps to successfully compl

  

Boom Forex Broker - Complete Information Guide

  

1. Broker Overview

  Boom, officially known as Monex Boom Securities (H.K.) Limited, was established in 2005. The company is headquartered in Hong Kong, specifically located at Room 2501, 25/F, AIA Tower, 183 Electric Road, North Point, Hong Kong. Boom operates as a privately held entity, providing a range of financial services primarily focused on retail forex trading and futures contracts.

  Over the years, Boom has developed a strong reputation in the financial industry, particularly in the Asia-Pacific region. The company has been operational for over 15 years, which signifies its longevity and experience in the market. Boom has continually evolved its offerings, adapting to market changes and client needs. One of the significant milestones in its history includes obtaining regulation from the Securities and Futures Commission (SFC) of Hong Kong, which enhances its credibility and operational integrity.

  As a broker, Boom primarily serves individual traders and institutional clients, offering services that include forex trading, futures contracts, and various market instruments. The business model focuses on providing access to multiple trading markets, enabling clients to engage in diverse trading activities. This approach allows Boom to cater to a wide range of clients, from novice traders to experienced investors seeking sophisticated trading solutions.

  

2. Regulatory and Compliance Information

  Boom is regulated by the Securities and Futures Commission (SFC) of Hong Kong, under license number AEF 808. This regulatory oversight ensures that Boom adheres to stringent operational standards and practices, aimed at protecting client interests and maintaining market integrity. The license is valid for dealing in futures contracts, with a focus on compliance with local laws and regulations.

  The regulatory framework under which Boom operates mandates that client funds are kept in segregated accounts, providing an additional layer of security for investors. This means that clients' funds are protected and cannot be used for the company's operational expenses. Furthermore, Boom is required to comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, ensuring that it conducts thorough due diligence on all clients.

  Boom's participation in investor compensation schemes is not explicitly detailed in the available information. However, the regulatory environment in Hong Kong typically includes provisions for investor protection, which may apply to Boom's operations. Clients can be assured that their financial transactions are conducted within a regulated framework, enhancing trust and reliability in the services provided by Boom.

  

3. Trading Products and Services

  Boom offers a diversified range of trading products, primarily focusing on forex and futures markets. The broker provides access to a variety of currency pairs, including major, minor, and exotic pairs, catering to a wide range of trading strategies and preferences. The exact number of forex pairs available is not specified, but clients can expect a comprehensive selection for their trading needs.

  In addition to forex, Boom also 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 asset, providing flexibility and opportunities for profit in different market conditions.

  Boom is known for its commitment to updating and expanding its product offerings. The broker regularly assesses market trends and client demands to introduce new trading instruments, ensuring that its clients have access to the latest investment opportunities. Retail trading services are a significant focus for Boom, with a user-friendly platform designed to facilitate seamless trading experiences.

  For institutional clients, Boom provides tailored services that may include liquidity provision and other specialized trading solutions. While specific details on white-label solutions or asset management services were not provided, the broker's established presence in the market suggests that it is equipped to meet institutional needs effectively.

  

4. Trading Platforms and Technology

  Boom supports the MetaTrader 4 (MT4) platform, which is widely regarded as one of the leading trading platforms in the industry. MT4 offers a robust environment for forex trading, featuring advanced charting tools, technical analysis capabilities, and automated trading options through Expert Advisors (EAs). This platform is favored by many traders for its user-friendly interface and extensive functionality.

  In addition to MT4, Boom has developed its own proprietary trading platform, which is designed to meet the specific needs of its clients. This platform is accessible via web and mobile applications, allowing traders to engage in the markets from anywhere, at any time. The mobile application is compatible with both iOS and Android devices, providing flexibility for traders on the go.

  Boom employs a Straight-Through Processing (STP) model, ensuring that client orders are executed directly in the market without dealer intervention. This model enhances the speed and efficiency of trade execution, providing a more transparent trading environment. The broker's servers are located in Hong Kong, facilitating fast order execution and reliable performance.

  For traders interested in automation, Boom offers API access, allowing clients to integrate their trading strategies and systems with the broker's platform. This feature is particularly beneficial for algorithmic traders seeking to implement sophisticated trading strategies.

  

5. Account Types and Trading Conditions

  Boom provides various account types to cater to different trader profiles. The standard account conditions include a minimum deposit requirement of HKD 1,000 for Hong Kong stocks and USD 150 for U.S. stocks. The broker offers competitive spreads, although specific details on spreads and commissions were not provided.

  In addition to standard accounts, Boom may offer advanced account types, such as VIP or professional accounts, designed for high-volume traders or those seeking enhanced trading conditions. Information regarding Islamic accounts or corporate accounts was not specifically mentioned, indicating that further inquiry may be necessary for clients with particular needs.

  The leverage offered by Boom is not explicitly stated, but it typically aligns with industry standards, allowing traders to manage their risk effectively. The minimum trade size and overnight fees were also not detailed in the available information, indicating that clients should consult the broker directly for comprehensive terms.

  

6. Fund Management

  Boom supports multiple deposit methods to facilitate client transactions. These methods include bank transfers, credit cards, and electronic wallets, ensuring that clients have convenient options for funding their accounts. The minimum deposit requirements vary based on the account type, with standard accounts requiring a minimum deposit of HKD 1,000 or USD 150.

  Processing times for deposits are generally quick, although specific details were not provided. Clients can expect a straightforward deposit process, with no additional fees associated with standard funding methods. However, clients should verify any potential fees related to specific deposit methods directly with Boom.

  For withdrawals, Boom allows clients to withdraw funds via bank transfers or by receiving a cheque. The withdrawal process is designed to be efficient, with no additional handling fees stated. However, details on processing times for withdrawals were not provided, indicating that clients should consult the broker for specific timelines.

  

7. Customer Support and Educational Resources

  Boom offers customer support through various channels, including a dedicated customer service hotline, email support, and an online contact form. The support team is available during business hours, ensuring that clients can receive assistance when needed. The primary contact number is (852) 2255 8888, and inquiries can be directed to service@boomhq.com.

  The broker provides support in both English and Chinese, catering to a diverse client base. Educational resources are available to help traders enhance their knowledge and skills. These resources include webinars, tutorials, and market analysis services, which cover various topics relevant to trading and investment strategies.

  Boom also offers trading tools, such as calculators and economic calendars, to assist traders in making informed decisions. Daily market analysis and research reports are provided to keep clients updated on market trends and developments.

  

8. Regional Coverage and Restrictions

  Boom primarily serves clients in Hong Kong and other regions, including Austria, Australia, Switzerland, Chile, Finland, India, Italy, Japan, Macao, and beyond. The broker has established a presence in these markets, allowing it to cater to a diverse client base.

  The company does not explicitly state any countries or regions from which it does not accept clients. However, potential clients should verify any restrictions based on their location, as regulatory requirements may vary by jurisdiction.

  In summary, Boom, operated by Monex Boom Securities (H.K.) Limited, is a regulated forex broker in Hong Kong, offering a variety of market instruments, account options, and trading platforms. The broker's commitment to compliance and investor protection, coupled with its diverse product offerings, positions it as a viable option for traders looking to engage in the financial markets.

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Latest Reviews

FX6022430072

FX6022430072

Hong Kong

I am a mainland Chinese working in Hong Kong. I used Futu before and thought the interface was good, but the commission fees were too expensive in the long run. A friend recommended BOOM to me. It has an old-fashioned Hong Kong-style interface, and I wasn't used to it at first. But after getting used to it, it's okay for trading. The main advantage is that the commission fees are cheaper than others. Sometimes I trade Japanese stocks. I heard that they can trade stocks in 16 popular markets.

Positive

2024-05-07

Henry 王超

Henry 王超

New Zealand

BOOM's website looks oddly sized and my browsing experience is poor. And they don't have any regulatory licenses, how did they operate for more than fifteen years?

Positive

2023-02-28

FX1153144384

FX1153144384

Singapore

Inexplicably, the company's website cannot be opened, and I have not seen any regulatory licenses. But I can't see anyone on the Internet saying it is a scam! I guess the website is temporarily down? I'll check it out tomorrow

Positive

2022-12-15

BOOM Forex Broker has an overall rating of 5.75, Regulatory Index 6.54, License Index 6.14, Business Index 9.12, Software Index 5.89 Risk Control Index 0.00.