Wing Fung Forex Broker

Wing Fung Review SummaryFounded2000Registered Country/RegionHong KongRegulationCGSE, SFC, SFC (Revoked), SFC (Exceeded)Market InstrumentsPrecious Metals, Securities, Futures, ForexDemo Account/Leverage/EUR/USD SpreadFrom 1 pipTrading PlatformWing Fung Official APP, Wing Fung Securities for Online and App, Wing Fung Futures SP Trader ProMin Deposit/Customer SupportLive chatHong Kong Hotline: (852) 2303 8690Mainland China Toll Free: 400 120 1090Fax: (852) 3914 9568China Fax: 400 120 1003Email: cs@wfgold.com, csgold@wfgold.comFacebook and YouTube Wing Fung is a member of the Chinese Gold and Silver Exchange in Hong Kong (CGSE) (Member No. 34) and enjoys the status of Bullion Group, casting 999.9 and 99 gold bars under the “Wing Fung” brand recognized in Hong Kong. Additionally, Wing Fung has been appointed by the Chinese Gold and Silver Exchange as a liquidity provider for the loco London gold market.Pros and ConsPros Cons Long historyOnly support English & ChineseRegulated by CGSE and SFCLimited tradable asset classesTight spreadsLimited info on trading conditionsNo commissionsNo MT4/5Live chat supportLimited payment optionsIs Wing Fung Legit? Yes, Wing Fung is regulated by the Chinese Gold & Silver Exchange Society (CGSE) and Securities and Futures Commission of Hong Kong (SFC).Regulated CountryRegulated AuthorityCurrent StatusRegulated EntityLicense TypeLicense NumberThe Chinese Gold & Silver Exchange Society (CGSE)Regulated永豐珠寶國際有限公司Type AA License034Securities and Futures Commission of Hong Kong (SFC)RegulatedWing Fung Futures LimitedDealing in futures contractsAMU683Securities and Futures Commission of Hong Kong (SFC)RevokedWing Fung Forex LimitedLeveraged foreign exchange tradingARI401Securities and Futures Commission of Hong Kong (SFC)ExceededWing Fung Securities LimitedCommon Financial Service LicenseAAV717What Can I Trade on Wing Fung?Tradable Instruments Supported Precious Metals✔Securities✔Futures✔Forex✔Commodities❌Indices❌Stocks❌Cryptocurrencies❌Bonds❌Options❌ETFs❌Account Type Investors can choose between 368 Cash Account and Margin Account for trading Hong Kong stocks. The 368 Cash Account charges 0.05% of the transaction amount (minimum charge of HK$38 per transaction). The Margin account charges are 0.1% of the transaction amount (minimum charge of HK$38 per transaction).Commission Wing Fung offers competitive spreads on its forex instruments. For forex instruments, the spread on the EUR/USD pair starts from 1 pip, GBP/USD pair from 2 pips, AUD/USD pairs from 2 pips.Currency PairSpreadEUR/USDFrom 1 pipGBP/USDFrom 2 pipsAUD/USDFrom 2 pips The broker does not charge any commissions on forex trades, which makes it attractive for traders who do not want to incur extra fees.Trading PlatformTrading PlatformSupported Available Devices Suitable for Wing Fung Official APP✔MobileExperienced tradersWing Fung Securities for Online and App✔MobileExperienced tradersWing Fung Futures SP Trader Pro✔MobileExperienced tradersMT4❌/BeginnersMT5❌/Experienced tradersDeposit and Withdrawal Wing Fung offers traders three deposit methods. The first one is banking deposit, and traders need to deposit funds (cash, cheque, transfer or wire transfer) to Bank of China (Hong Kong) / Bank of East Asia / China Construction Bank (Asia) / DBS Bank (Hong Kong), OCBC Wing Hang Bank where Wing Fung Precious Metals has opened accounts, all cheques must be crossed. The second way is to deposit via PPS. Customers need to open a PPS account and complete the relevant account opening procedures. Then they can immediately transfer funds to their securities account with the company online or using the PPS system over the phone (for deposits via PPS, HK$5 will be charged for each deposit of less than HK$5,000). The third way is to fast payment system (FPS). Regarding refunds, some bank branches may suspend or shorten the service hours due to the current epidemic. The customer's withdrawal request will be changed from Monday to Friday from 2:00 pm to 12:00 noon.