Shacom Forex Broker

Shacom Forex Broker - Complete Information Guide

1. Broker Overview

　　Shacom, officially known as Shacom Futures Limited, was established in 2004 and is headquartered in Room 303, Hershey Centre, 63 Mody Road, Tsim Sha Tsui East, Kowloon, Hong Kong. The company operates as a private entity and is primarily focused on providing trading services in the Hong Kong market. Shacom has developed a strong reputation within the financial industry, especially in the forex and CFD sectors.

　　Over the years, Shacom has achieved several important milestones. Since its inception, the broker has maintained a commitment to regulatory compliance and customer service, which has helped it grow its client base significantly. The company primarily serves retail clients, including individual traders and small businesses looking for reliable trading solutions.

　　Shacom's business model revolves around providing electronic trading services, particularly in futures and options trading on various indices, including the Hang Seng Index. The broker has developed a suite of trading tools and platforms to enhance the trading experience for its clients.

2. Regulatory and Compliance Information

　　Shacom is regulated by the Securities and Futures Commission (SFC) of Hong Kong, which is a reputable regulatory body in the financial sector. The specific license number for Shacom is AAJ 283. The broker's regulatory status ensures that it adheres to strict guidelines designed to protect customer transactions and funds.

　　The regulatory framework under which Shacom operates includes several key features:

• License Validity: The license is valid for dealing in futures contracts and requires Shacom to comply with ongoing regulatory requirements.
• Client Fund Protection: Shacom maintains a policy of segregating client funds, ensuring that customer deposits are held in separate accounts from the company's operational funds.
• Investor Compensation Fund: While specific details regarding participation in an investor compensation fund were not provided, it is common for regulated brokers to have measures in place to protect client investments.
• KYC and AML Compliance: Shacom implements Know Your Customer (KYC) and Anti-Money Laundering (AML) measures, which include verifying the identity of clients and monitoring transactions to prevent illicit activities.

　　This strong regulatory oversight positions Shacom as a trustworthy broker in the financial markets, ensuring a level of safety for its clients.

3. Trading Products and Services

　　Shacom offers a diverse range of trading products to cater to the needs of its clients. The broker provides access to various financial instruments, including:

• Forex Trading: Shacom offers a selection of currency pairs, focusing on major and minor pairs, which allows traders to engage in forex trading effectively.
• CFDs: The broker provides contract for difference (CFD) trading on various asset classes, including indices, commodities, and stocks. This allows clients to speculate on price movements without owning the underlying assets.
• Special Products: Shacom also offers trading in unique products, although specific details on these were not extensively covered in the sources.
• Retail Trading Services: The broker primarily caters to retail clients, providing them with the necessary tools and resources to trade effectively.
• Institutional Client Services: While the primary focus is on retail clients, Shacom may also provide services tailored for institutional traders, although specific offerings were not detailed.

　　The broker updates its product offerings periodically, ensuring that clients have access to the latest trading instruments in the market.

4. Trading Platforms and Technology

　　Shacom does not support the widely-used MetaTrader 4 or 5 platforms, which is a notable consideration for traders familiar with these systems. Instead, the broker offers its own proprietary trading platform, designed to facilitate efficient trading experiences.

　　Key features of Shacom's trading technology include:

• Web-Based Trading Platform: The broker provides a user-friendly web platform that allows traders to execute trades and manage their accounts seamlessly.
• Mobile Trading Application: Shacom offers a mobile app compatible with both iOS and Android devices, enabling traders to access their accounts and trade on the go.
• Execution Model: The broker operates on a traditional market-making model, which may differ from ECN or STP models commonly used by other brokers.
• Technical Infrastructure: Shacom's trading infrastructure is designed to provide reliable access to the markets, although specific details regarding server locations and technology were not extensively covered.
• API Access: The broker supports API connections for clients interested in automated trading strategies, although detailed information on this service was not provided.

　　This technological framework ensures that Shacom can deliver a robust trading experience to its clients.

5. Account Types and Trading Conditions

　　Shacom offers a straightforward account structure with the following features:

• Standard Account Conditions: The broker does not impose a minimum deposit requirement, making it accessible for traders of all levels. Specifics on spreads and commissions were not detailed, but traders can expect competitive rates.
• Advanced Account Types: While the primary account type is a standard futures account, additional account types, such as VIP or professional accounts, may be available but were not explicitly mentioned in the sources.
• Special Accounts: Shacom does not currently offer Islamic accounts or corporate accounts, which may limit options for certain traders.
• Demo Account Policy: The broker does not provide demo accounts for practice trading, which could be a disadvantage for novice traders looking to familiarize themselves with the platform.
• Leverage Range: Shacom offers varying leverage ratios depending on the product, although specific ratios were not provided.
• Minimum Trade Size: The broker allows for a minimum trade size, although the exact figure was not specified.
• Overnight Fees: Information regarding overnight fees was not detailed, so traders should inquire directly with the broker for specifics.

　　This account structure is designed to accommodate a wide range of trading preferences, although the lack of demo accounts may pose challenges for some traders.

6. Fund Management

　　Shacom provides several options for fund management, allowing clients to deposit and withdraw funds efficiently:

• Supported Deposit Methods: The broker accepts deposits via bank transfers, credit cards, and electronic wallets, offering flexibility for clients.
• Minimum Deposit Requirements: There is no minimum deposit requirement for opening an account, making it accessible for all traders.
• Deposit Processing Times: The processing times for deposits vary depending on the method used; however, specific durations were not detailed.
• Deposit Fees: Information regarding deposit fees was not explicitly mentioned, so clients should confirm with Shacom for any applicable charges.
• Withdrawal Methods and Restrictions: Clients can withdraw funds through similar methods as deposits, but specific withdrawal limits and processing times were not provided.
• Withdrawal Processing Times: Withdrawal requests typically take one to two working days to process, although this may vary based on the method chosen.
• Withdrawal Fee Structure: Details on withdrawal fees were not disclosed, so clients should check with the broker for any associated costs.

　　This comprehensive approach to fund management ensures that clients can handle their finances with ease.

7. Customer Support and Educational Resources

　　Shacom places importance on customer support and offers several channels for clients to seek assistance:

• Support Channels: Clients can reach out to Shacom through phone, email, and online chat options, providing multiple avenues for support.
• Service Hours and Coverage: The customer support service operates from 9:00 AM to 5:00 PM, Monday to Friday, and is closed on weekends and public holidays.
• Multilingual Support: Shacom provides support in English and Chinese, catering to its primary client base in Hong Kong.
• Educational Resources: The broker offers various educational materials, including webinars, tutorials, and e-books, to help traders enhance their knowledge and skills.
• Market Analysis Services: Clients can access daily market analysis, news updates, and research reports, which are essential for informed trading decisions.
• Trading Tools: Shacom provides useful trading tools, such as calculators, economic calendars, and signal services, to assist traders in their strategies.

　　This commitment to customer support and education helps Shacom foster a well-informed trading community.

8. Regional Coverage and Restrictions

　　Shacom primarily serves clients in Hong Kong, with its main office located in Kowloon. The broker's regional presence is significant, but it also has specific limitations on client acceptance:

• Major Service Markets: The broker focuses on the Hong Kong market, providing tailored services to local traders.
• Regional Office Distribution: Shacom operates from its headquarters in Hong Kong, with no additional regional offices reported.
• Countries/Regions Not Accepted: Specific countries or regions from which clients are not accepted were not disclosed, so potential clients should verify eligibility directly with the broker.
• Special Restrictions: No special restrictions were noted, but clients should be aware of any legal implications based on their residency.

　　This regional focus allows Shacom to provide specialized services while ensuring compliance with local regulations.

　　In conclusion, Shacom is a well-established broker in the Hong Kong trading landscape, offering a variety of services and products to cater to its clients. With a strong regulatory framework and a commitment to customer support, Shacom stands out as a viable option for traders looking to engage in forex and CFD trading.