Huarong Forex Broker

Huarong Review SummaryFounded1973Registered Country/RegionHong KongRegulationSFC (Exceeded)Products & ServicesSecurities Trading, Corporate Finance, Asset Management, Investment Advisory, IPO Underwriting, Wealth ManagementDemo Account❌EUR/USD Spread2 pipsTrading PlatformMobile AppMinimum Deposit/Customer SupportTel: (852) 3965 3965Fax: (852) 3965 3705Email: info@hrif.com.hkHuarong Information Huarong (now XinKong Capital) was founded in 1973 and is headquartered in Hong Kong. It provides full financial services through its licensed subsidiaries. It is funded by China's CITIC Financial AMC and offers securities trading, corporate finance, and asset management. While it holds Hong Kong SFC permits, their status is stated as “Exceeded”.Pros and ConsPros Cons Regulated by SFCNo demo or Islamic (swap-free) accountsWide range of financial servicesExceeded license statusMultiple account types for individuals and corporatesLimited information on feesIs Huarong Legit?Licensed EntityRegulated by Regulatory AuthorityCurrent StatusLicense TypeLicense No.XinKong International Securities LimitedHong KongSecurities and Futures Commission (SFC)ExceededDealing in securitiesACV085XinKong International Capital LimitedHong KongSecurities and Futures Commission (SFC)ExceededDealing in securitiesBGY986Products and Services Through its companies that are licensed in Hong Kong, Huarong offers a full range of financial services. China CITIC Financial AMC, the business's parent company, supports its services, which include securities trading, corporate finance advice, and asset management.Products & ServicesSupportedSecurities Trading✔Corporate Finance✔Asset Management✔Investment Advisory✔IPO Underwriting✔Wealth Management✔Account Type There are three primary categories of live trading accounts: Individual, Corporate, and Sole Proprietor/Partnership. The company does not have demo or Islamic accounts.Huarong Fees Huarong's forex trading fees, as indicated in bid-ask spreads, are generally reasonable and in line with industry averages.Currency PairBidAskSpread (Approx.)EUR/HKD9.06279.068154 pipsJPY/HKD0.05440.05451 pipGBP/HKD10.647210.656694 pipsEUR/USD1.15481.1552 pipsUSD/JPY144.03144.1714 pipsGBP/USD1.35671.35736 pipsAUD/USD0.64820.649210 pipsTrading PlatformTrading PlatformSupportedAvailable DevicesMobile App (Android APK)✔AndroidMobile App (Android Google Play)✔AndroidMobile App (iOS English)✔iPhoneDeposit and Withdrawal Huarong does not mention any deposit or withdrawal fees. Bank-related charges, such as cheque clearing fees or overseas remittance charges, may apply depending on the channel used.Payment MethodAvailable CurrencyProcessing TimeATM / Internet Banking / Phone Banking / Bank CounterHKD / RMBSame day if before 5:00 PMCheque DepositHKDAfter bank clearingWithdrawal via ChequeHKDSame day if requested before 11:00 AM