GREAT ORIENT Forex Broker

Great Orient Forex Broker - Comprehensive Information Guide

1. Broker Overview

　　Great Orient, officially known as Great Orient International Commodity Trading Group Limited, was established in 2017. The broker is headquartered in Hong Kong, where it operates primarily in the retail forex market. As a privately held company, Great Orient focuses on providing trading services to individual clients and institutional investors, catering to a diverse clientele that includes novice traders and experienced investors alike.

　　Since its inception, Great Orient has made significant strides in the forex trading industry. The broker aims to offer a user-friendly trading environment with competitive spreads and a variety of trading instruments. Over the years, it has developed a reputation for its customer service, providing support in Simplified Chinese, Traditional Chinese (Hong Kong), and English, making it accessible to a broad audience.

　　The broker operates primarily in retail forex trading, offering a range of financial instruments, including currencies, commodities, and indices. Great Orient's business model is designed to facilitate easy access to forex trading for its clients, ensuring that they have the necessary tools and resources to succeed in their trading endeavors. The firm is committed to transparency and aims to build trust with its clients through clear communication and reliable service.

2. Regulatory and Compliance Information

　　Great Orient is regulated by the Chinese Gold & Silver Exchange Society (CGSE). Its license number is 019, which is indicative of its compliance with local regulations. However, the regulatory status of Great Orient has raised concerns among traders, as the broker's overall score on platforms like WikiFX is relatively low, at 1.57 out of 10. This rating reflects potential issues regarding the broker's transparency and regulatory compliance.

　　The firm adheres to a Know Your Customer (KYC) policy to ensure that it complies with Anti-Money Laundering (AML) regulations. This involves verifying the identity of its clients through documentation such as government-issued identification and proof of address. Client funds are kept in segregated accounts, which adds an additional layer of security for investors. While there have been no significant negative regulatory disclosures associated with Great Orient, potential clients are advised to conduct thorough research before engaging with the broker.

3. Trading Products and Services

　　Great Orient offers a variety of trading products, primarily focusing on forex trading. The broker provides access to over 146 currency pairs, including major, minor, and exotic currencies. In addition to forex, Great Orient facilitates trading in Contracts for Difference (CFDs) across several asset classes, including:

• Indices: Major global indices are available for trading.
• Commodities: Traders can access various commodities, including metals and energies.
• Stocks: Great Orient also allows trading in a selection of stocks, although the range may be limited compared to other brokers.
• Cryptocurrencies: Notably, Great Orient does not currently support cryptocurrency trading.

　　The broker's trading services are designed to cater to both retail and institutional clients, providing tailored solutions to meet diverse trading needs. Great Orient is committed to updating its product offerings regularly, ensuring that clients have access to the latest financial instruments and market opportunities.

4. Trading Platform and Technology

　　Great Orient provides its clients with access to the MetaTrader 4 (MT4) trading platform, which is renowned for its user-friendly interface and comprehensive trading tools. The platform supports various trading strategies, including automated trading through Expert Advisors (EAs). However, it is essential to note that Great Orient does not currently support MetaTrader 5 (MT5).

　　In addition to the MT4 platform, Great Orient has developed its proprietary web-based trading platform, which allows clients to trade directly from their browsers without the need for downloads. This platform is designed to be intuitive and accessible, providing essential features such as real-time market data, charting tools, and order management capabilities.

　　For clients who prefer trading on the go, Great Orient offers mobile applications for both iOS and Android devices, ensuring that traders can manage their accounts and execute trades from anywhere. The broker employs a Straight Through Processing (STP) execution model, which enhances trade execution speed and transparency.

5. Account Types and Trading Conditions

　　Great Orient offers several account types to accommodate different trading styles and preferences. The primary account conditions include:

• Standard Account: This account typically requires a minimum deposit of $250 and offers competitive spreads.
• VIP Account: For more experienced traders, the VIP account may provide additional benefits, such as lower spreads and personalized service.
• Islamic Account: Great Orient also offers Islamic accounts that comply with Sharia law, allowing traders to engage in forex trading without incurring interest fees.

　　The leverage offered by Great Orient varies depending on the account type and trading instrument, allowing traders to manage their risk effectively. The broker has a minimum trade size requirement that is standard across the industry, and overnight fees apply for positions held beyond the trading day.

6. Fund Management

　　Great Orient supports various deposit methods, including bank transfers, credit cards, and e-wallets such as Skrill and Neteller. The minimum deposit requirement is generally set at $250, making it accessible for new traders. Deposits are typically processed quickly, allowing clients to start trading without significant delays.

　　Withdrawal methods include bank transfers and e-wallets, with processing times ranging from 1 to 5 business days depending on the method used. Notably, Great Orient does not charge withdrawal fees, which is a significant advantage for traders. However, clients should be aware of potential currency conversion fees if withdrawing in a different currency from their trading account.

7. Customer Support and Educational Resources

　　Great Orient offers customer support through various channels, including phone, email, and live chat. The support team is available in multiple languages, primarily focusing on Chinese and English. While the response time is generally satisfactory, clients may experience delays during peak hours.

　　The broker provides a range of educational resources, including webinars, tutorial videos, and market analysis reports. These resources are designed to help traders improve their skills and stay informed about market trends. Additionally, Great Orient offers trading tools such as calculators and economic calendars, enhancing the overall trading experience for its clients.

8. Regional Coverage and Restrictions

　　Great Orient primarily serves clients in Hong Kong and other regions within Asia. However, it is essential to note that the broker does not accept clients from certain countries, including the United States, Japan, and South Korea, due to regulatory restrictions. The firm has established a network of regional offices to support its operations and client base effectively.

　　In conclusion, Great Orient is a broker that offers a range of trading products and services, supported by a user-friendly platform and a commitment to customer service. While it has made significant strides since its establishment, potential clients are encouraged to conduct thorough research and consider the regulatory environment before engaging with the broker. Overall, Great Orient broker aims to provide a reliable trading experience for its clients in the competitive forex market.