WZG Forex Broker
Basic Information
Hong Kong
2-5 years Regulated in Hong Kong Type AA License High potential riskCompany profile
Rating Index
WZG Forex Broker - Complete Information Guide
1. Broker Overview
WZG, officially known as Wanzhou Gold Group Limited, was established in 2017. The company is headquartered in Room 2601-02, Phase 2, Nina Plaza, 8 Yeung Uk Road, Tsuen Wan, Hong Kong. WZG operates as a private entity and primarily serves retail clients interested in trading financial instruments such as London gold and silver.
Since its inception, WZG has aimed to provide a comprehensive trading platform for clients, capitalizing on the growing demand for precious metals trading. Over the years, the broker has made significant strides in establishing its reputation within the financial industry, particularly in the Hong Kong market. One of the notable milestones in its development was obtaining a Type AA license from the Hong Kong Gold and Silver Exchange, which has enabled it to operate legally and offer its services to traders.
The business model of WZG focuses on retail Forex trading, offering clients access to various trading opportunities in precious metals, specifically London gold and London silver. The broker has positioned itself as a competitive player in the market by providing zero-commission trading and leveraging technology to enhance the trading experience for its clients.
2. Regulatory and Compliance Information
WZG is regulated by the Hong Kong Gold and Silver Exchange (HKGX) under the Type AA license. The license number is 141, and it has been effective since the company's establishment. The broker is committed to adhering to the regulatory standards set forth by the HKGX, ensuring that it operates within the legal framework established for financial institutions in Hong Kong.
The scope of the regulation includes the proper handling of client funds, which are kept in segregated accounts to ensure their safety. WZG does not currently participate in any investor compensation funds, which may pose a risk to clients in the event of financial difficulties faced by the broker.
To comply with international standards, WZG implements Know Your Customer (KYC) and Anti-Money Laundering (AML) measures. These policies are designed to prevent fraudulent activities and ensure that the identities of clients are verified before they can engage in trading activities.
3. Trading Products and Services
WZG primarily offers trading opportunities in London gold and London silver. The broker does not provide a wide range of Forex currency pairs or other asset classes like stocks, cryptocurrencies, or commodities. This focus on precious metals allows WZG to cater specifically to clients interested in this niche market.
The trading environment at WZG is characterized by competitive spreads, with a $20 per lot spread for London gold and a $100 per lot spread for London silver, both with zero commission. While the broker does not frequently update its product offerings, it maintains a stable selection of precious metals for trading.
WZG also provides retail trading services, allowing individual investors to access the market directly. However, there is currently no information available regarding institutional client services or white-label solutions offered by the broker.
4. Trading Platform and Technology
WZG supports the MetaTrader 4 (MT4) trading platform, which is widely recognized for its user-friendly interface and robust features. Additionally, WZG has developed its own proprietary trading application that enables traders to engage in the market through both mobile and desktop devices.
The broker offers a web-based trading platform, allowing clients to trade without the need for software installation. The mobile application is compatible with both iOS and Android, providing flexibility for traders who prefer to manage their investments on the go.
WZG operates on an ECN (Electronic Communication Network) model, which facilitates direct market access for traders. The broker's servers are located in strategic locations to ensure low latency and efficient order execution. Furthermore, WZG supports API access for automated trading, allowing clients to implement algorithmic trading strategies.
5. Account Types and Trading Conditions
WZG offers a standard trading account with a minimum deposit requirement of $70. The trading conditions for this account type include:
- Spread: $20 for London gold, $100 for London silver
- Commission: None
- Leverage: The specific leverage ratios are not explicitly stated, but generally, brokers in this sector offer leverage up to 1:100 or more.
While WZG does not provide detailed information about advanced account types, such as VIP or professional accounts, it does offer a demo account for traders to practice their strategies without financial risk.
The broker does not currently offer specialized accounts, such as Islamic accounts or corporate accounts, which may limit its appeal to a broader audience. Additionally, the minimum trade size and overnight fees are not clearly defined in the available information.
6. Fund Management
WZG supports a variety of deposit methods, including bank transfers, credit cards, and e-wallets. The minimum deposit requirement varies by account type, with a standard account starting at $70.
The processing time for deposits is typically immediate for electronic methods, while bank transfers may take longer. WZG does not charge any fees for deposits, making it cost-effective for clients to fund their accounts.
Withdrawal methods include bank transfers and other electronic payment options, with specific withdrawal limits not disclosed. The processing time for withdrawals can vary, but clients often report delays, which raises concerns regarding the broker's operational efficiency.
7. Customer Support and Educational Resources
WZG provides multiple customer support channels, including telephone, email, and online chat. The broker's customer service operates during business hours, catering primarily to clients in the Hong Kong time zone.
The support team is available in several languages, although the exact languages supported are not specified. WZG offers educational resources, including webinars, tutorials, and market analysis services, to assist traders in enhancing their trading skills and knowledge.
Clients can access daily market analysis, research reports, and trading tools such as calculators and economic calendars to aid their trading decisions.
8. Regional Coverage and Restrictions
WZG primarily serves clients in Hong Kong and potentially other regions, although specific details regarding its market coverage are limited. The broker has not disclosed any regional offices outside of its Hong Kong headquarters.
However, WZG does not accept clients from certain countries, particularly those with stringent regulatory frameworks or restrictions on Forex trading. The specific countries from which clients are not accepted have not been provided in the available information.
In summary, WZG broker presents a focused trading environment centered on precious metals, with regulatory oversight from the Hong Kong Gold and Silver Exchange. However, potential clients should be aware of the limitations in product offerings and the lack of investor compensation mechanisms.
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Latest Reviews
FX1617110504
Hong Kong
Deposit processing is slow, customer service keeps saying it's being handled, the platform is deliberately stalling for time,
Exposure
05-02
FX1617110504
Hong Kong
The official website states one business day for withdrawals, but in reality, it usually takes more than one business day. Contacting customer service shows they are online, but in practice, they are often offline for long periods.
Exposure
05-01
FX1617110504
Hong Kong
Hello everyone! Today is May 17, 2025. I've been trading Forex and Gold on the WZG platform in Hong Kong. If going long, the price drops instantly, if shorting, it immediately starts moving in the long direction. If hedging, it sweeps within both ranges. WZG is now closed, with data frozen (see the white image). The customer service has shown chats suggesting the market closure. Yet, the ec Markets platform (see the black image), regulated in the UK, is still operational. Their customer service is vague about the situation. It seems the market wasn't closed, but the platform was shut down prematurely. Who covers the losses from those data fluctuations? Their customer service reiterated their legality and regulation by the Hong Kong Gold Business Association, highlighting the importance of understanding a platform thoroughly before choosing.
Exposure
05-17