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UOB Kay Hian foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://www.utrade.com.my/public/open_account, about the company's legal and temporary regulatory information, the company's address Ground, 19th & 23rd Floor Menara Keck Seng, 203, Jalan Bukit Bintang, 55100, Kuala Lumpur.

UOB Kay Hian Forex Broker

Basic Information

Registered Region

Malaysia

Operating Period

Company Name

UOB Kay Hian Securities (M) Sdn Bhd

Abbreviation

UOB Kay Hian

Company employee

Customer Service Email Address

mycustomerservice@uobkayhian.com

Contact Number

+603 2147 1888

Company Website

http://www.utrade.com.my/

Company Address

Ground, 19th & 23rd Floor Menara Keck Seng, 203, Jalan Bukit Bintang, 55100, Kuala Lumpur

Facebook

https://www.facebook.com/UOBKayHianMalaysia/

Keywords

5-10 years

Suspicious Regulatory License

High potential risk

Company profile

GENERAL INFORMATION Launched at the beginning of the 20th century by Khoo Kay Hian, the then-called Kay Hian & Co (Pte) traded commodities and securities. The firm was one of the founding members of the Stock Exchange of Malaysia and Singapore. Kay Hian & Co (Pte) was incorporated as a private company in 1970 and became a member of the stock exchange following the splitting of the Stock Exchange of Malaysia and Singapore. In 1981, the current CEO Wee Ee-Chao joined the company as Managing Director and was later promoted to Chairman in 1996. In 2001, Kay Hian & Co (Pte) was renamed UOB Kay Hian Holdings Ltd following a merger with UOB Securities Pte Ltd and The United Overseas Bank Group. During the years following the turn of the new millennium, UOB Kay Hian merged with the corporation United Mok Ying Kie Ltd and acquired sales bases of Credit Suisse First Boston and JM Sassoon, amongst others. Recently, in 2019, UOB Kay Hian bought and transferred the remisier base from DBS Vickers. ACCOUNT AND LEVERAGE There are several account options on UOB Kay Hian that provide different benefits and serve different purposes. The client onboarding process involves filling out a form to specify the account type and whether it is a joint account or not. Securities Trading The most basic trading account provides users access to equities, bonds, unit trusts, ETFs and other products in any of the Singapore, Hong Kong, Malaysia and US markets UTRADE Edge This UOB Kay Hian account offers lower commission and fees than the Securities Trading account. Users with a UTRADE Edge account have access to markets in Singapore, Hong Kong, Malaysia and the USA. UTRADE PLUS This is similar to the UTRADE Edge account, users must pay cash up front before making any trades. The key difference is that the fees and commission are lower than the Edge account and that users may only trade in SGX. The amount of leverage is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that a trader has $1 000 in a trading account and is trading ticket sizes of 100 000 USD/JPY, that leverage will equate to 100:1. Traders should always keep in mind that, although high leverage offered may be a plus point for the brokerage, but trading at such high leverage should only be attempted by experienced traders that know how to prevent big losses. UOB Kay Hian allows its traders to use the following maximum leverage ratios: For Forex 1:50, for CFDs 1:10, for metals 1:50 and for energy sources 1:50. TRADING INSTRUMENTS UTRADE is UOB Kay Hians main platform, where users can trade ETFs, forex, stocks, CFDs, bonds, and Unit Trusts. UTRADE has a range of advanced features, including automated trading support, customisable indicators, charting tools, stock scanners, integrated screeners and graphical analysis objects. Creating an account with UOB Kay Hian on the UTRADE platform is free and there is no minimum deposit, making it highly accessible and competitive. The assets supported by the UTRADE platform include: • Stocks – Access to nine global markets such as the NASDAQ and London Stock Exchange, including IPOs. • CFDs & ETFs – CFDs can be purchased on both equities and indices. Clients can trade as many as 500 assets, utilise up to 1:20 leverage on indices. • Forex – Spreads as low as 0.8 pips for low-cost currency exchange. Over 30 currency pairs to choose from and leverage of up to 1:20. • Bonds – Access to over 300 bonds made up of sovereign bonds, corporate bonds and dim sum bonds. Lower fees by placing bonds in custody with the Singapore Exchanges Central Depository. • Unit Trusts – Invest in funds that are managed by over 20 asset management companies with a range of different objectives and time horizons. TRADING PLATFORM Some companies provide their own proprietary platform, which may benefit traders due to specific characteristics developed by specialists employed by the broker, while others prefer to provide the better-known platforms that were tried and tested through time. If there is a choice, the trader should keep in mind what he would like to trade and find the platform that suits his needs best. UOB Kay Hian offers UTRADE as a platform, which is designed to streamline the trade process and keep its users informed on investment trends. Its main features are: • Multi-market trade • Live price chart • Sophisticated Tools • Online statement SPREADS AND COMMISSION The cost of trading depends on different factors like commissions, spreads, and margins. The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move. One pip is 0.01 for currency pairs with JPY as the term currency and 0.0001 for all other pairs. The amount of money required in your account to open a position is called the margin and is calculated according to the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your account. Commissions are the charges imposed by an investment broker on a trader for making trades on the traders behalf. The level of commissions depends on the asset being traded and the type of service offered by the broker. Execution-only brokers, which do not involve in personal investment advice and give traders complete control over how they trade the markets, usually charge lower commissions. UOB Kay Hian mentions transaction charges such as a CDP imposed clearing fees (0.0325%) and SGX trading fees (0.0075%) which will be applied on gross contract amounts. All brokerage fees and other charges are subjected to 7% GST. For all other fees and charges, traders should refer to the UTRADE fee schedule under ‘Fees and commission’, on their website. DEPOSIT AND WITHDRAWAL METHOD UOB Kay Hian does not give any indication of minimum deposit amounts to open or maintain any of these types of accounts, To make a deposit in Singaporean dollars (SGD), users have several options. Options include cheques, GIRO form, EPS, bank transfers and internet banking bill payments, though the most convenient is through the PayNow system. This is a quick and easy way to make deposits as the funds are transferred almost instantly and at no extra cost. The process is simple as you can either type in UOB Kay Hian‘s UEN into your mobile banking app or simply scan the QR code on their website. It is important to note that not all banks will allow you to use PayNow, so you should check to see the list of participating banks on UOB Kay Hian’s website. If you are making a payment in CAD, GBP, CNY or EUR then you can only use a Telegraphic Transfer. Payments in USD can be made either through Telegraphic Transfer or by cheque. CUSTOMER SERVICE There is an extensive customer support service in place with teams of experienced traders and staff that users can contact either via hotline phone call or email between 08:30 and 17:30 SST during the day or between 22:00 and 02:00 SST for the night desk, Monday to Friday

UOB Kay Hian broker review

Is UOB Kay Hian safe or scam

Rating Index

Pros

Strong regulatory oversight from the Monetary Authority of Singapore (MAS) and FINRA, ensuring a level of trust and security for clients.

Access to a wide range of financial markets, including major U.S. stocks and Hong Kong exchanges, along with local Thai markets.

Competitive trading conditions with a relatively low minimum deposit requirement for Thai investors and decreasing brokerage fees based on trading volume.

Cons

High minimum deposit requirement of THB 50,000 to access international markets, which may be a barrier for some traders.

Limited payment options for deposits and withdrawals, lacking popular methods like PayPal, which can reduce convenience for clients.

No demo account available for practice trading, which may hinder new traders from familiarizing themselves with the platform before committing real funds.

How to login to UOB Kay Hian?

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UOB Kay Hian Forex Broker - Complete Information Guide

1. Overview of the Broker

UOB Kay Hian, established in 1965, is a prominent brokerage firm headquartered in Singapore. It operates under the umbrella of the United Overseas Bank (UOB), which is one of Asia's leading financial institutions. UOB Kay Hian has a significant presence across Southeast Asia, with more than 80 branches worldwide, including representative offices in Hong Kong, Indonesia, Malaysia, and Thailand. The firm primarily serves retail and institutional clients, providing a wide array of financial services including forex trading, securities trading, and investment management.

The company has undergone substantial growth since its inception, becoming a trusted name in the financial markets of Asia. Key milestones in its development include the expansion of its service offerings to include various asset classes and the establishment of a robust online trading platform. As a part of UOB Group, UOB Kay Hian benefits from the group's extensive financial resources and industry expertise, enhancing its ability to serve clients effectively.

UOB Kay Hian operates as a full-service broker, offering retail forex trading, institutional services, and asset management solutions. This diverse business model allows the firm to cater to a broad spectrum of client needs, from individual investors seeking to trade in the forex market to large corporations requiring comprehensive financial services.

2. Regulatory and Compliance Information

UOB Kay Hian is regulated by the Monetary Authority of Singapore (MAS), which ensures that the broker adheres to stringent regulatory standards. The license number issued by MAS is 197000447W. This regulation provides clients with a level of security and trust, as it mandates the proper handling of client funds and compliance with anti-money laundering (AML) and know your customer (KYC) requirements.

The broker's operations are subject to regular audits and compliance checks by MAS, ensuring that it meets the required standards for business conduct. Client funds are kept in segregated accounts, providing an additional layer of protection. However, UOB Kay Hian has faced regulatory challenges in the past, including fines for breaches in compliance and anti-money laundering regulations. These incidents highlight the importance of ongoing compliance efforts within the organization.

UOB Kay Hian has implemented robust KYC and AML measures to mitigate risks associated with financial crime. The firm is committed to maintaining high compliance standards, which include thorough verification of clients' sources of wealth and conducting due diligence on transactions.

3. Trading Products and Services

UOB Kay Hian offers a wide range of trading products, primarily focusing on forex and contracts for difference (CFDs). The broker provides access to over 50 forex currency pairs, including major, minor, and exotic pairs. In addition to forex trading, clients can trade CFDs on various asset classes, including indices, commodities, and stocks.

The company continuously updates its product offerings to meet market demands, ensuring that clients have access to a diverse range of investment opportunities. UOB Kay Hian also provides retail trading services and caters to institutional clients, offering tailored solutions that meet their specific trading and investment needs.

For clients interested in passive investment strategies, UOB Kay Hian offers managed portfolios and investment solutions, allowing investors to benefit from professional asset management without the need for active trading. This flexibility makes UOB Kay Hian an attractive option for both active traders and those seeking a more hands-off approach to investing.

4. Trading Platforms and Technology

UOB Kay Hian supports multiple trading platforms to cater to the varying needs of its clients. The broker offers the widely-used MetaTrader 4 (MT4) platform, which is known for its user-friendly interface and advanced trading features. Additionally, UOB Kay Hian has developed its proprietary trading platform, Utrade, which provides clients with real-time market data, advanced charting capabilities, and a range of trading tools.

The trading platforms are accessible on various devices, including desktop computers, tablets, and smartphones, ensuring that clients can trade conveniently from anywhere. UOB Kay Hian also offers web-based trading solutions, allowing clients to execute trades without the need for software installation.

In terms of execution models, UOB Kay Hian operates on a market execution basis, ensuring that trades are executed promptly at the best available prices. The broker's technical infrastructure is robust, with servers located in secure environments to ensure the reliability and speed of trade execution. Furthermore, UOB Kay Hian supports API access for automated trading, enabling clients to implement algorithmic trading strategies.

5. Account Types and Trading Conditions

UOB Kay Hian provides several account types to accommodate different trading styles and preferences. The standard account requires a minimum deposit of 3,000 SGD (approximately 2,200 USD) and offers competitive spreads starting from 1.8 pips on major currency pairs. For clients seeking more advanced trading options, UOB Kay Hian also offers premium accounts with enhanced features and benefits.

The broker offers a demo account for clients to practice trading without risking real capital. This allows new traders to familiarize themselves with the trading platform and develop their skills before committing to live trading. UOB Kay Hian provides leverage of up to 1:20, which can enhance trading potential but also increases risk exposure.

Clients should be aware of the overnight fees associated with holding positions beyond the trading day, as well as any applicable commissions on certain trades. UOB Kay Hian's account types cater to various trading needs, from retail traders to institutional investors.

6. Fund Management

UOB Kay Hian offers a range of deposit and withdrawal options to facilitate easy fund management for clients. Supported deposit methods include bank transfers, credit cards, and online banking services. The minimum deposit requirement varies by account type, with the standard account requiring a minimum of 3,000 SGD.

Deposit processing times are generally quick, allowing clients to fund their accounts and start trading without significant delays. Importantly, UOB Kay Hian does not charge any deposit fees, making it cost-effective for clients to add funds to their trading accounts.

Withdrawals can be made through bank wire transfers, and the processing time for withdrawals typically ranges from 1 to 3 business days. UOB Kay Hian does not impose withdrawal fees, which is an attractive feature for clients looking to manage their funds efficiently.

7. Customer Support and Educational Resources

UOB Kay Hian provides comprehensive customer support services to assist clients with their trading needs. Support channels include telephone assistance, email support, and online chat services, ensuring that clients can reach out for help whenever necessary. The support team operates during market hours, providing timely assistance to traders.

In addition to customer support, UOB Kay Hian offers a wealth of educational resources to help clients enhance their trading knowledge. These resources include webinars, trading tutorials, and market analysis reports. The broker's research team regularly publishes market insights, helping clients make informed trading decisions.

UOB Kay Hian also offers trading tools, such as calculators and economic calendars, to assist clients in their trading activities. The combination of customer support and educational resources positions UOB Kay Hian as a broker that prioritizes client success.

8. Regional Coverage and Restrictions

UOB Kay Hian primarily serves clients in Southeast Asia, with a strong presence in Singapore, Malaysia, Thailand, and Indonesia. The broker has established offices in key financial centers, providing localized services to meet the needs of regional investors.

While UOB Kay Hian caters to a broad client base, it does impose restrictions on certain jurisdictions. Notably, residents of the United States and countries within the European Economic Area are not eligible to open accounts with UOB Kay Hian. This limitation reflects the broker's compliance with regulatory requirements and its focus on serving clients within its operational regions.

In summary, UOB Kay Hian is a well-established brokerage firm with a strong reputation in the Southeast Asian financial markets. It offers a diverse range of trading products and services, supported by robust technology and regulatory compliance. The broker is well-positioned to serve both retail and institutional clients, making it a valuable player in the region's financial landscape.

The information provided in this guide serves to assist potential clients in understanding the offerings and capabilities of UOB Kay Hian, ensuring that they can make informed decisions when selecting a forex broker.

UOB Kay Hian Forex Broker has an overall rating of 1.57, Regulatory Index 0.00, License Index 0.00, Business Index 7.45, Software Index 4.00 Risk Control Index 0.00.

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