SinoRich Forex Broker

What is SinoRich？

　　SinoRich is a Securities & Futures Company based in Hong Kong in 1999. It is now locally regulated.

Pros & Cons

Pros:

• 　　Local Regulation: SinoRich operates under the supervision and regulation of the Securities and Futures Commission (SFC) in Hong Kong, adding a level of regulatory oversight and protection.

• 　　Several Security Measures Taken: SinoRich implements various security measures, including asset-independent custody and participation in the Investor Compensation Fund.

Cons:

• 　　English Not Supported on the Website: The website supports only traditional Chinese and simplified Chinese.The lack of support for the English language on the website will limit accessibility for non-Chinese speakers.

• 　　High Minimum Deposit: SinoRich imposes a high minimum deposit requirement of HK$200,000, which very much deters potential investors with limited capital from participating in trading.

Is SinoRich Legit or a Scam？

• 　　Regulatory Sight: XC Market is regulated by the Securities and Futures Commission of Hong Kong. The company holds a license for dealing in futures contracts, with the license number AFN604. This regulatory oversight provides a level of security and protection for traders using their services.

• 　　User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.

• 　　Security Measures:

1. 　　Compliance with SFC Regulations: SinoRich is a licensed securities firm regulated by the Securities and Futures Commission (SFC) in Hong Kong. Holding Type 1, 2, 4, 5, and 9 regulated activity licenses, SinoRich adheres to the strict supervision and regulations imposed by the SFC.

2. 　　Asset Independent Custody: Client assets held in securities accounts are managed by reputable banks and exchanges. Assets are fully isolated, providing an extra layer of security and minimizing the risk of unauthorized access or mismanagement.

3. 　　Investor Compensation Fund: SinoRich offers investment protection through the “Investor Compensation Fund.” In the event of unforeseen circumstances or financial losses, clients are eligible for compensation, with a maximum limit of HK$500,000, providing additional peace of mind and financial security.

Leverage

　　SinoRich offers a maximum leverage of 1:10, which is relatively conservative compared to the leverage ratios offered by some other brokers in the market. This means that for every unit of capital invested, traders can access up to 10 times that amount in trading positions.

Trading Platform

　　SinoRich provides its own web trader - SinoRich Trader, which is a comprehensive one-stop trading platform that offers a range of features for traders. It allows users to execute trades seamlessly. The platform is known for its user-friendly interface and intuitive design, making it suitable for both novice and experienced traders. Additionally, SinoRich Trader offers low subscription fees and interest rates, making it an attractive option for cost-conscious traders looking to manage their expenses effectively.

Customer Support

　　SinoRich provides several customer support channels. Clients can reach out to SinoRich's support team via telephone at +852 3101 0504 or +86 147 1430 2760 for immediate assistance. Additionally, they can communicate via email at cs@sinorichhk.com or by fax at +852 3101 0247. SinoRich also maintains an active presence on social media platforms such as Facebook, YouTube, and WhatsApp, where clients can engage with the company and stay updated on news and announcements.

Conclusion

　　As a Securities & Futures Company, SinoRich is locally regulated by SFC and it applies several security measures. However, it requires a very high minimum deposit to open an account and it does not support English on its website.

Frequently Asked Questions (FAQs)

　　Question: What is the highest leverage it can provide？

　　Answer: The highest leverage SinoRich can provide is 1:10.

　　Question: Is SinoRich regulated or not？

　　Answer: Yes, it is regulated by SFC.

　　Question: What is the minimum deposit required to open an account？

　　Answer: The minimum deposit required is HK$200,000.

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 provided in this review may be subject to change due to the constant updating of the company's services and policies.