Cang foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://user.cangforex88.com/register/fast, about the company's legal and temporary regulatory information, the company's address .
Cang Forex Broker
Basic Information
Hong Kong
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskRating Index
Cang Forex Broker - Comprehensive Information Guide
1. Broker Overview
Cang Limited, often referred to as the Cang broker, is an offshore brokerage firm that claims to offer various trading services in the Forex market. Established in 2022, the broker is headquartered in Hong Kong, although it lacks the necessary regulatory approvals from local authorities. Cang Limited is a privately held company, and it primarily targets retail traders looking to engage in Forex, CFDs, and other financial instruments.
Despite Cang Limited's claims of having been operational for over a decade and showcasing awards from 2010 to 2016, investigations reveal that its domain was only registered on February 17, 2022. This discrepancy raises significant concerns regarding the authenticity of its claims and the credibility of its operations. The broker asserts that it caters to a global clientele, focusing on providing accessible trading solutions to both novice and experienced traders.
Cang Limited operates under a business model that appears to focus on retail Forex trading, offering a platform for individual traders to engage in currency trading and other financial instruments. However, its lack of regulatory oversight and the presence of numerous warnings from financial authorities cast a shadow over its legitimacy.
2. Regulatory and Compliance Information
The Cang broker operates without valid regulatory oversight, which poses a significant risk to its clients. The Malta Financial Services Authority (MFSA) has issued warnings against Cang Limited, categorizing it as a clone of an MFSA-regulated company. Furthermore, there are no records of Cang Limited being registered with the Hong Kong Securities and Futures Commission (SFC), indicating that it does not hold any legitimate licenses to operate in the region.
Key Regulatory Information:
- Regulatory Bodies: No valid regulatory information available.
- License Numbers: Not applicable.
- License Validity and Scope: Cang Limited operates without a regulatory license, making it unregulated.
- Legal Entities in Different Regions: No registered legal entities found.
- Client Fund Segregation Policy: There is no evidence of segregated accounts for client funds.
- Investor Compensation Fund Participation: Cang Limited does not participate in any investor compensation schemes.
- KYC and AML Compliance Measures: The broker's compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations is unclear due to its unregulated status.
3. Trading Products and Services
The Cang broker offers a limited range of trading products, primarily focusing on Forex pairs and CFDs. However, the lack of regulatory oversight raises concerns about the reliability and safety of these offerings.
Trading Products:
- Forex Currency Pairs: A selection of major, minor, and exotic currency pairs.
- CFD Products: Includes indices, commodities, cryptocurrencies, and stocks, though specific details on the range of offerings are lacking.
- Unique Products: No special or proprietary trading instruments have been identified.
- Product Update Frequency: There is no available information on how frequently new products are introduced or existing ones updated.
- Retail Trading Services: Primarily focused on individual traders.
- Institutional Client Services: No information available regarding services for institutional clients.
- White Label Solutions: There is no indication that Cang Limited offers white label solutions.
- Asset Management Services: Not applicable.
4. Trading Platforms and Technology
The Cang broker claims to support the MetaTrader 5 (MT5) platform, which is widely recognized in the trading community for its advanced features and user-friendly interface. However, the broker's overall technological infrastructure raises concerns due to its unregulated status.
Platform Details:
- MetaTrader Support: Yes, Cang Limited supports the MT5 platform.
- Proprietary Platform: There is no information on any proprietary trading platform developed by Cang Limited.
- Web-Based Trading Platform: Details on a web-based platform are not provided.
- Mobile Application: The availability of mobile applications for iOS and Android is not mentioned.
- Execution Model: The specific execution model (ECN, STP, Market Making) is not disclosed.
- Server Location and Infrastructure: The server locations and technical infrastructure details are not available.
- API Access and Automated Trading Support: There is no information regarding API access or support for automated trading systems.
5. Account Types and Trading Conditions
Cang Limited offers various account types, but detailed information regarding the specific trading conditions remains scarce.
Account Types:
- Standard Account Conditions: Minimum deposit requirements and spread information are not explicitly stated.
- Advanced Account Types: There is no mention of VIP or professional accounts.
- Special Accounts: No information on Islamic or corporate accounts is available.
- Demo Account Policy: Details about a demo account are not provided.
- Leverage Ratios: The leverage offered by Cang Limited is not mentioned, which is a critical aspect for traders.
- Minimum Trade Size: Specifics regarding the minimum trade size are not disclosed.
- Overnight Fees Policy: There is no information on overnight fees or swap rates.
6. Fund Management
The Cang broker provides limited information about its fund management practices, which is concerning given its unregulated status.
Deposit and Withdrawal Methods:
- Supported Deposit Methods: Information on accepted payment methods, such as bank transfers, credit cards, and e-wallets, is not provided.
- Minimum Deposit Requirements: The minimum deposit requirement varies by account type but is not clearly stated.
- Deposit Processing Time: No information is available regarding how long deposits take to process.
- Deposit Fees: There is no mention of any fees associated with deposits.
- Withdrawal Methods and Restrictions: Details on withdrawal methods and any associated restrictions are not provided.
- Withdrawal Processing Time: The time taken to process withdrawals is not disclosed.
- Withdrawal Fee Structure: No information is available regarding withdrawal fees.
7. Customer Support and Educational Resources
The Cang broker claims to offer customer support, but the specifics of its support services are vague and potentially inadequate.
Support Channels:
- Support Channels: Email support is mentioned, but there is no information on phone, live chat, or social media support.
- Service Hours and Time Zone Coverage: The operational hours of customer support are not stated.
- Multilingual Support: Details on the languages supported by customer service are not provided.
- Educational Resource Types: There is no information on educational resources such as webinars, tutorials, or eBooks.
- Market Analysis Services: Information regarding daily market analysis, news, or research reports is not available.
- Trading Tools: The availability of trading tools such as calculators, calendars, or signal services is not mentioned.
8. Regional Coverage and Restrictions
The Cang broker claims to serve a global market, but specific details about its regional coverage and restrictions are unclear.
Regional Information:
- Primary Service Markets: The specific markets served by Cang Limited are not disclosed.
- Regional Office Distribution: No information is available regarding regional offices.
- Countries/Regions Not Accepted: There is no list of countries or regions from which clients are not accepted.
- Special Restrictions: Specific restrictions or legal limitations are not detailed.
In conclusion, while the Cang broker presents itself as a Forex trading platform with various offerings, the lack of regulatory oversight, transparency, and detailed information raises significant concerns for potential investors. Traders are strongly advised to conduct thorough due diligence and consider the risks before engaging with unregulated brokers like Cang Limited.
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FX1846120477
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The logo of the former is consistent with the location in Hong Kong, while the latter has the same name and location as the official website, but does not have a logo. Facebook met a girl who claimed to be engaged in short-term foreign exchange trading and investment in Jakarta. ) At the beginning of the digital currency software teaching, more than 200 US dollars were withdrawn in normal transactions, and later I kept asking me to increase investment to have a pattern. I was repeatedly persuaded to add up to $2,000. At the end of the transaction, I wanted to withdraw immediately. I asked the official website customer service and said that if the balance exceeds $1,000, I have to pay 10% of the tax and fee of the withdrawal amount, and then she will use the digital currency exchange rate. Waiting for repeated excuses to persuade me that it is unnecessary, I think it is still within the controllable range and does not move. On the 4.16th, she inexplicably said that there is an event on the platform where you can participate in the participation. It turned out to be a recharge to send US dollars. I didn't understand it clearly at the time, and she didn't elaborate that it would be better to find customer service. Later, I realized that it is time-limited and The consequences of not completing the recharge, but the customer service also did not inform in advance. In the end, I accidentally chose to recharge 300 million US dollars to send 3888. I learned that the recharge should be completed before the 24th, otherwise it will affect the credit investigation, so I just sent the ID card information. At the time, I was panicked, but she was so arrogant that she called me 15,000 and said she could support me. . . I didn't fall asleep after thinking about it all night, and I checked a lot of information. There is an up owner who agrees that paying taxes first and then withdrawing money is a new scam. My question is whether it will affect the credit report, and is it possible to recover $2,000 (10730.8)?
Exposure
2022-04-17
Thip
Thailand
After I was persuaded to open an account with INGFX, I traded and was able to withdraw some of them tax-free. Unusual events since 16-22, emails from INGFX and CANG have been sent stating that the two companies will be merged. And let me transfer my ID and Principal for Investment to CANG Limited. After that, I made the move and added Principal added for my first trading on August 17, 2022, total amount 14,633 USDT. can say trade And after trading I want to withdraw some money. But the withdrawal was denied on grounds of money laundering laws. And I asked again and found the answer that it was because of the merger. Had to withdraw again on the 22nd, after that we traded pending and on August 22nd we made all the withdrawals, but found out that we received the letter to pay the 12% tax and must be paid within 1 week or within the day. August 28, 2022, although the platform has already charged for the service from the attached file. So we are not convinced this is a scam to transfer taxes. Including tricking into depositing more trading fraudulently tricking into transferring money for free However, the contact center has been contacted to request a refund of the principal without the need for profit. but only received a reply. "Under review" and has been notified if really taxed. Must be able to withhold tax through the system and the remaining money can be withdrawn at all, but can't, so complained to investigate CANG Limited and to request the principal invested in trading back from the said company. Best regards You can contact me directly at email : pmeesat@hotmail.com
Exposure
2022-08-23