SINORICH SECURITIES Forex Broker

SinoRich Forex Broker - Complete Information Guide

1. Broker Overview

SinoRich, officially known as Sino-Rich Securities & Futures Limited, was established in 1999. The company is headquartered in Room 3310-18, 33/F, 41 Heung Yip Road, Wong Chuk Hang, Hong Kong. As a private company, SinoRich has built a strong reputation in the financial services sector, particularly in the forex and CFD markets. The broker primarily serves clients in Hong Kong and other international markets, providing a range of trading services tailored to both retail and institutional clients.

Over the years, SinoRich has achieved several milestones, including obtaining regulatory licenses from the Securities and Futures Commission (SFC) in Hong Kong. The company focuses on providing a comprehensive suite of trading solutions, including forex, commodities, indices, and contracts for difference (CFDs). With over 24 years of operational experience, SinoRich has established itself as a trustworthy broker in the competitive financial landscape.

The business model of SinoRich encompasses various trading services, including retail forex trading, institutional services, and wealth management solutions. The firm aims to cater to a diverse clientele, ensuring a robust trading environment supported by effective risk management practices.

2. Regulation and Compliance Information

SinoRich operates under the supervision of the Securities and Futures Commission (SFC) in Hong Kong, which is responsible for regulating the securities and futures markets in the region. The SFC license number for SinoRich is AFN 604, allowing the broker to deal in futures contracts and provide investment services.

The licenses held by SinoRich include:

• Type 1: Dealing in securities
• Type 2: Dealing in futures contracts
• Type 4: Advising on securities
• Type 5: Advising on futures contracts
• Type 9: Asset management

SinoRich ensures the protection of client funds through strict compliance with regulatory requirements, including the segregation of client assets. This means that client funds are held in separate accounts from the company's operational funds, enhancing security.

Additionally, SinoRich participates in the Investor Compensation Fund, offering protection to clients in the event of unforeseen circumstances or financial losses, with a compensation limit of up to HK $500,000.

The broker adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance measures, ensuring that all clients undergo thorough verification processes to prevent illicit activities.

3. Trading Products and Services

SinoRich offers a diverse array of trading products to cater to the needs of its clients. In the forex market, the broker provides access to a variety of currency pairs, including major, minor, and exotic pairs. The specific number of forex pairs available is not detailed in the sources, but the broker is known to facilitate a comprehensive trading experience.

In addition to forex, SinoRich provides CFD products across several categories, including:

• Indices: Major global indices allowing for diversified exposure.
• Commodities: Including options for trading precious metals, energy products, and agricultural commodities.
• Stocks: Access to a range of equity instruments.
• Cryptocurrencies: While specific details are limited, the broker may offer trading options on popular cryptocurrencies.

SinoRich is committed to regularly updating its product offerings, ensuring that clients have access to the latest market opportunities. The broker provides retail trading services tailored for individual traders and also extends its services to institutional clients, offering solutions that meet their specific trading requirements.

4. Trading Platforms and Technology

SinoRich does not support the widely used MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms. Instead, the broker has developed its own proprietary trading platform known as SinoRich Trader. This web-based trading platform is designed to be user-friendly and provides a range of features suitable for both novice and experienced traders.

Key features of the SinoRich Trader platform include:

• Web-based access: Traders can access their accounts from any device with internet connectivity, without the need for software installation.
• Mobile application: While specific details regarding mobile app availability for iOS and Android are not provided, the web-based platform typically supports mobile trading functionalities.
• Execution model: SinoRich employs a Market Making execution model, which allows for liquidity provision and competitive spreads.

The technical infrastructure of SinoRich includes secure servers that support efficient trade execution and data management. The broker may also provide API access for automated trading, although specific details are not mentioned in the sources.

5. Account Types and Trading Conditions

SinoRich offers various account types tailored to meet the diverse needs of its clients. The standard account conditions include:

• Minimum deposit: The minimum deposit requirement is set at HK $200,000, which is relatively high compared to many other brokers in the market.
• Spreads: Competitive spreads are offered, although specific figures are not detailed.
• Commissions: Information regarding commissions is not explicitly provided, indicating that the broker might operate on a spread-only basis.

In addition to standard accounts, SinoRich may offer advanced account types such as VIP or professional accounts for high-volume traders. The availability of Islamic accounts or corporate accounts is not mentioned in the sources.

The leverage offered by SinoRich is capped at a maximum of 1:10, which is considered conservative compared to other brokers that may offer higher leverage ratios. This means that traders can access trading positions up to ten times their capital.

The minimum trade size and overnight fees are not specified in the available information, indicating that clients should consult directly with the broker for detailed account conditions.

6. Fund Management

SinoRich provides a range of funding options to facilitate deposits and withdrawals for its clients. Supported deposit methods include:

• Bank transfers
• Credit cards
• E-wallets (specific options not detailed)

The minimum deposit requirement varies based on the account type, with the standard minimum set at HK $200,000. The processing time for deposits is typically prompt, although specific timeframes are not mentioned.

Regarding fees, the sources do not provide detailed information on deposit fees, indicating that clients should verify any applicable costs directly with the broker.

For withdrawals, SinoRich offers various methods, but the specific withdrawal options and limitations are not detailed in the sources. The processing time for withdrawals may vary, and clients are advised to check directly with the broker for the most accurate information.

7. Customer Support and Educational Resources

SinoRich is committed to providing robust customer support to its clients. Support channels include:

• Telephone: Clients can reach the support team at +852 3101 0504 or +86 147 1430 2760.
• Email: Support is available via email at cs@sinorichhk.com.
• Social media: Active engagement on platforms like Facebook and YouTube.

The service hours and time zone coverage are not explicitly mentioned, suggesting that clients should inquire directly for specific details.

SinoRich primarily supports Traditional Chinese and Simplified Chinese on its website, which may limit accessibility for non-Chinese speakers.

For educational resources, the broker may offer various materials, including webinars, tutorials, and eBooks, although specific offerings are not detailed. Additionally, market analysis services such as daily analyses, news updates, and research reports may be available to assist traders in making informed decisions.

8. Regional Coverage and Restrictions

SinoRich primarily serves clients in Hong Kong and other international markets. The broker operates from its headquarters in Wong Chuk Hang, Hong Kong, and may have regional offices to support its clientele.

However, certain countries or regions may be restricted from opening accounts with SinoRich. Specific details regarding countries that are not accepted are not provided in the available information, indicating that potential clients should verify their eligibility directly with the broker.

In summary, SinoRich is a well-established forex broker offering a range of trading services under the regulatory oversight of the SFC in Hong Kong. With its proprietary trading platform and diverse product offerings, SinoRich aims to provide a secure and efficient trading environment for its clients.