JINSHENGJINRONG Forex Broker

Risk Warning Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only. General Information JINSHENGJINRONG Review Summary Founded 5-10 years Registered Country/Region Hong Kong Regulation CGSE (Suspicious Clone) Market Products London gold, London silver, and physical gold settlement Demo Account Available EUR/ USD Spreads $15 per lot (Std) Trading Platforms MT4, Jinsheng Precious Metal APP Minimum Deposit $200 Customer Support Phone, email, Wechat, QQ What is JINSHENGJINRONG？ Hong Kong Jinsheng Precious Metals Co., Ltd., commonly known as Jinsheng Precious Metals, is a registered company based in Hong Kong. It positions itself as a professional electronic dealer approved by the Hong Kong Gold and Silver Exchange. The company strives to provide a high-quality and reliable platform for investors interested in precious metal investments. However, it is important to note some concerns regarding Jinsheng Precious Metals. The claim made by the broker about being regulated byg CGSE is suspected to be a clone and currently lacks valid regulation. This means that there is no government or financial authority overseeing their operations. As a result, investing with this broker comes with risks. In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance. Pros & Cons Pros Cons • A range of trading instruments • CGSE (Suspicious Clone) • Demo accounts available • Some reports of scam and withdrawal issues • MT4 supported • No social media presence • Commission-free • FAQ section available JINSHENGJINRONG Alternative Brokers There are many alternative brokers to JINSHENGJINRONG depending on the specific needs and preferences of the trader. Some popular options include: iGold - A broker who can legally operate electronic trading of 99 Gold, HKD Kilo Gold, Loco London Gold/Silver and RMB Kilobar Gold, and offers trading through the MetaTrader 4 platform. Chancellor Precious Metals – A broker who provides comprehensive services in trading, storage, and sourcing of precious metals. Bibgold - Areputable electronic trading platform for London gold and silver, regulated by CGSE, offering traders a range of tools and educational resources to effectively navigate the bullion market. Is JINSHENGJINRONG Safe or Scam？ The China Hong Kong CGSE regulation (license number: 047) claimed by this broker is suspected to be clone. Therefore, it currently has no valid regulation, which means that there is no government or financial authority oversighting their operations. It makes investing with them risky. Besides, the broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. The platform is a Ponzi Scheme, which refers to the use of “principle of value multiplication”. In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years. If you are considering investing with JINSHENGJINRONG, it is important to do your research thoroughly and weigh the potential risks against the potential rewards before making a decision. In general, it is recommended to invest with well-regulated brokers to ensure your funds are protected. Market Products JINSHENGJINRONG offers a variety of trading products including electronic trading of London gold, London silver, and physical gold settlement. Here are the details of products provided by JINSHENGJINRONG: Product London Gold London silver Trade direction Bidirectional operation Bidirectional operation Trading hours 5x24 hours 5x24 hours Capital investment Low investment, high return Low cost, high yield Pros and cons analysis Flexible trading Easy and fast Gold types Trade direction Trading hours Capital investment Pros and cons analysis Physical gold One-way operation 5×8 hours High principal requirements If you invest a lot, you can only do long, you can't go short, and you need to keep it Paper gold One-way operation 5×24 hours High principal requirements In the long, you can only go long, not short Gold futures Bidirectional operation 5×5 hours Minimum 10,<> There is an expiration time, and it is not easy to control the risk Gold T+D Bidirectional operation 5×10 hours High principal requirements It cannot be traded in real time at the market price, which is easy to lose opportunities and invest more London Gold Bidirectional operation 5×24 hours Low investment, high return Flexible trading Accounts JINSHENGJINRONG offers live and demo accounts. The live account is VIP account and Standard account, with the minimum deposit of $200 both. London Gold/London Silver VIP account Standard Account Account opening and deposit requirements $200 Gold spread rebate $25 back on spreads $15 back on spreads Silver spread rebate $38 back on spreads Minimum trade lots 0.05 lot Overnight interest (buy/sell) Buy - 1.75%, Sell - 1.75% Here are the steps to open an account: To open a live account: Click the “Open Live Account” button in the account opening area on the homepage of the website. Fill out the account opening application form. Check whether the account opening data returned by the system is correct. If it is correct, please click “Register” to complete the account opening. On the page after successful registration, remember the user center and platform account and password, you can enter the user center to modify the user password, and download the platform to modify the platform password. To open a demo account: Click the “Open a demo account” button in the account opening area on the homepage of the website. Enter your mobile number and click “Get verification code”. Fill in the correct verification code and click “Simulate Experience Now”. Register successfully, obtain the trading account and password, and send the account information to the mobile phone you filled in, please pay attention to check. Spreads & Commissions The spreads and commissions JINSHENGJINRONG offer depend on the type of account and the level of VIP status. For their Standard account, the spread for trading London Gold is $15 per lot. This means that when you buy or sell one lot of London Gold, there will be a $15 difference between the buying and selling price. This spread serves as the cost of trading and is added to the market price of the metal. On the other hand, VIP accounts receive more competitive pricing. For London Gold, VIP account holders are offered a reduced spread of $25 per lot. This means that VIP clients can enjoy a lower cost of trading compared to Standard account holders. The VIP status is typically achieved by meeting certain criteria or maintaining a higher account balance. In addition to the spreads, JINSHENGJINRONG charges commissions on the trading volume. Trading Platforms JINSHENGJINRONG provides its clients with the popular MetaTrader 4 (MT4) trading platform and Jinsheng Precious Metal APP. MT4 offers a comprehensive set of features and tools that cater to the needs of both beginner and experienced traders. The platform encrypts communication between the client terminal and the server, ensuring the confidentiality of sensitive information and protecting against unauthorized access. Traders can also access their accounts from multiple devices, including desktops, laptops, smartphones, and tablets, allowing for flexibility and convenience. Jinsheng Precious Metal APP is a professional precious metal comprehensive trading software independently developed by Hong Kong Jinsheng Precious Metals Co., Ltd., APP integrates account opening, trading, deposit and withdrawal, real-time quotation, market broadcast, expert analysis, customer service consultation and other functions, so that customers can use mobile phones anytime and anywhere to trade, timely grasp the best time to make profits. See the trading platform comparison table below: Broker Trading Platform JINSHENGJINRONG MT4, Jinsheng Precious Metal APP Chancellor Precious Metals MT4 Golday Precious Metals MT4 Bibgold MT4 Trading Tools & Educational Resources JINSHENGJINRONGoffers Real-time quotes, Spot Gold Calculator Daily market interpretation Weekly Jinsheng reviews Daily real strategy Industry Encyclopedia Describe (briefly) the trading tools of JINSHENGJINRONG (in paragraphs) JINSHENGJINRONG offers a variety of trading tools to assist their clients in making informed trading decisions and staying updated with the latest market trends. Firstly, they provide real-time quotes, which allow traders to monitor the live prices of various financial instruments. Real-time quotes provide accurate and up-to-date information on bid and ask prices, enabling traders to execute trades at the best possible prices. JINSHENGJINRONG offers a Spot Gold Calculator. This tool helps traders calculate the value of their Spot Gold positions based on the current market price. It allows traders to quickly determine the approximate value of their holdings, assisting them in managing risk and evaluating potential profits or losses. JINSHENGJINRONG provides daily market interpretation and weekly Jinsheng reviews. These resources offer valuable analysis and insights into the financial markets. Clients can benefit from expert opinions on market trends, price movements, and potential trading opportunities. These market interpretations and reviews can be useful for traders looking to stay updated with the latest market developments and adjust their trading strategies accordingly. Another trading tool offered by JINSHENGJINRONG is the daily real strategy. This feature provides traders with specific trading strategies or recommendations, often based on technical or fundamental analysis. These strategies can serve as potential trading ideas or signals, allowing traders to capitalize on market opportunities. Lastly, JINSHENGJINRONG offers an industry encyclopedia, which serves as a comprehensive knowledge hub for traders. This resource provides information and explanations on various financial terms, concepts, and trading strategies. Traders can access this encyclopedia to enhance their understanding of the industry and improve their trading skills. Deposits & Withdrawals JINSHENGJINRONG accepts deposits and withdrawals via China UnionPay, HANG SENG BANK, HSBC and Chong Hing Bank. Describe (briefly) the deposit/withdrawal of JINSHENGJINRONG (in paragraphs) - China UnionPay: JINSHENGJINRONG allows clients to deposit and withdraw funds using China UnionPay, a well-known and widely used payment provider in China. Clients can easily transfer funds from their UnionPay accounts to their JINSHENGJINRONG trading accounts and vice versa. - HANG SENG BANK: Clients of JINSHENGJINRONG can also choose to deposit and withdraw funds through HANG SENG BANK. This option provides a convenient and secure way for clients to manage their funds, offering a trusted banking solution for transactions. - HSBC: JINSHENGJINRONG accepts deposits and withdrawals via HSBC, one of the world's largest and most reputable banks. Clients can utilize their HSBC accounts to transfer funds to and from their JINSHENGJINRONG trading accounts easily, ensuring a seamless and efficient transaction process. - Chong Hing Bank: Another option available for depositing and withdrawing funds with JINSHENGJINRONG is through Chong Hing Bank. Clients can enjoy the convenience and reliability of this banking institution to manage their financial transactions and maintain liquidity in their trading accounts. JINSHENGJINRONG minimum deposit vs other brokers JINSHENGJINRONG Most other Minimum Deposit $200 $100 User Exposure on WikiFX On our website, you can see that reports of unable to withdraw and scams. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you. Customer Service JINSHENGJINRONG offers live chat. With live chat, customers can get their questions answered quickly and receive help with any issues they may have. It's a convenient and effective communication channel that can improve customer satisfaction and increase sales. Customers can visit their office or get in touch with customer service line using the information provided below: Telephone: +852-3758 2228 WeChat: js37582228 QQ: 800067971 Email: cs@golday.com Whats more, JINSHENGJINRONG provides a Frequently Asked Questions (FAQ) section on their website to assist their clients with commonly asked questions and provide relevant information. The FAQ section aims to address common queries and concerns that investors may have regarding the company's services, processes, and investment opportunities. By offering this resource, JINSHENGJINRONG aims to provide transparency and clarity to their clients, helping them make informed decision. Conclusion In conclusion, JINSHENGJINRONG is a company that claims to be a professional electronic dealer in Hong Kong's precious metal market. However, there are significant concerns and red flags associated with this broker. Firstly, CGSE is suspected to be a clone and lacks valid regulation. Additionally, JINSHENGJINRONG has been identified as an illegal broker with expired licenses. It has also been included in WikiFX's Scam Brokers list, further casting doubts on its credibility and integrity. Reports of withdrawal difficulties and scams on their platform add to the concerns surrounding this broker. Frequently Asked Questions (FAQs) Q 1: Is JINSHENGJINRONG regulated？ A 1: No. It has been verified that this broker currently has no valid regulation. Q 2: How can I contact the customer support team at JINSHENGJINRONG？ A 2: You can contact via telephone, +852-3758 2228, WeChat, js37582228, QQ, 800067971 and email, cs@golday.com. Q 3: Does JINSHENGJINRONG offer demo accounts？ A 3: Yes. Q 4: Does JINSHENGJINRONG offer the industry leading MT4 & MT5？ A 4: Yes. It offers MT4 and Jinsheng Precious Metal APP. Q 5: What is the minimum deposit for JINSHENGJINRONG？ A 5: The minimum initial deposit to open an account is $200. Q 6: Is JINSHENGJINRONG a good broker for beginners？ A 6: No. It has been verified to be illegal and all of its licenses have expired, and it has been listed in WikiFX's Scam Bokers list. Please be aware of the risk!