Aspect Information Registered Country/ Area Hong Kong Founded Year 5-10 years Company Name 中阳控股有限公司 Regulation Regulated by the Securities and Futures Commission of Hong Kong Margin 50% for selected stocks Spreads Varies across different markets and instruments Trading Platforms 2 GO Securities Trading for Android and iOS Tradable Assets Securities, futures contracts, currencies, commodities, global exchanges Account Types Local Individual Customers, Non-Local Individual Customers, Corporate Customers Demo Account Not specified Islamic Account Not specified Customer Support Customer hotline, online consultation, email, and fax Payment Methods Bank transfers Educational Tools “Market Trends” and “Company Announcements” sections Overview of Zhong Yang Financial Group Zhong Yang Financial Group, operating as Zhong Yang Securities Limited in Hong Kong, is a regulated institution licensed by the Securities and Futures Commission. While regulatory status indicates adherence to standards, caution is advised due to reported complaints on platforms like WikiFX. The company offers a diverse range of market instruments, including securities, futures, currencies, and commodities. Clients can trade Hong Kong stocks, U.S. stocks, mainland China's stock market, and engage in futures trading for commodities and currency pairs. Access to various global exchanges further expands investment options. Account opening is available for individuals and corporate customers, with specific documentation requirements. Services offered include fund management, investment advisory, corporate consulting, and portfolio management. Trading platforms are available for Android and iOS devices, along with additional downloadable systems. Educational tools, such as market trends updates and company announcements, assist clients in making informed investment decisions. Customer support is provided through a hotline, online consultation services, email, and fax. However, negative reviews on platforms like WikiFX raise concerns about fund withdrawals, alleged fraudulent activities, and trading software manipulation, indicating caution when considering engagement with Zhong Yang Financial Group. Pros and Cons Zhong Yang Financial Group has pros such as being regulated by the Securities and Futures Commission of Hong Kong, providing access to a wide range of securities, futures, currencies, and commodities, offering relatively low spreads, multiple account types, fund management and advisory services, educational tools, and customer support. However, there are cons, including seven complaints reported to WikiFX, allegations of fraudulent activities, difficulties in withdrawing funds, allegations of liquidation caused by the company's actions, complaints about failure to honor promised commissions, manipulation of trading software alleged by users, and limited customer support channels. Thorough research and caution are advised before engaging with Zhong Yang Financial Group. Pros Cons Regulated by the Securities and Futures Commission of Hong Kong Seven complaints reported to WikiFX in the past three months Provides access to a wide range of securities, futures, currencies, and commodities Negative reviews on WikiFX with allegations of fraudulent activities Provides relatively low spreads Difficulties in withdrawing funds reported by some users Multiple account types available for individuals and corporations Allegations of liquidation caused by Zhong Yang's actions Offers fund management, investment advisory, and portfolio management services Complaints about failure to honor promised commissions Provides educational tools and market updates Manipulation of trading software alleged by users Customer support available through hotline, email, and fax Limited customer support chhannels Is Zhong Yang Financial Group Legit？ Zhong Yang Financial Group, specifically Zhong Yang Securities Limited, is regulated by the Securities and Futures Commission of Hong Kong. It holds a license for dealing in futures contracts (License No.: BGT529) and is considered a regulated institution. While it is important to note that the regulatory status indicates adherence to certain standards and guidelines, it is advisable for individuals to exercise caution and consider the potential risks associated with the company, as there have been seven complaints reported to WikiFX in the past three months. Market Instruments SECURITIES: Zhong Yang Financial Group provides access to a range of securities, including Hong Kong stocks, such as those listed on the Hong Kong Stock Exchange. They also offer trading opportunities in U.S. stocks, enabling clients to invest in companies listed on major U.S. exchanges. Additionally, they facilitate trading through the Shanghai/Shenzhen-Hong Kong Stock Connect program, which allows investors to trade stocks listed on mainland China's exchanges. FUTURES: Zhong Yang Financial Group offers a diverse selection of futures contracts across different markets. For example, clients can trade commodities futures such as gold (GC), copper (HG), silver (SI), crude oil (CL), and natural gas (NG). They also provide futures contracts on agricultural products like corn (C), soybeans (S), and wheat (W). Furthermore, clients have access to index futures, including the S&P 500 (ES), Dow Jones Industrial Average (YM), and Nikkei 225 (NK), allowing them to participate in the performance of these indices. CURRENCIES: In addition to securities and futures, Zhong Yang Financial Group facilitates trading in various currency futures. Clients can engage in trading currency pairs such as the Australian dollar (AD), British pound (BP), Euro (EC), Japanese yen (JY), and Swiss franc (SF). They also offer futures contracts on emerging market currencies like the Polish złoty (PZ), South African rand (RA), Russian ruble (RU), and Turkish lira (TRY). This allows clients to speculate on exchange rate movements and manage currency-related risks. COMMODITIES: Zhong Yang Financial Group provides opportunities to trade futures contracts on a range of commodities. Clients can participate in the commodities market by trading contracts such as Brent crude oil (B) and WTI crude oil (T). Additionally, they offer futures contracts on agricultural commodities like cocoa (CC), cotton (CT), coffee (KC), and sugar (SB). These commodity futures enable clients to diversify their investment portfolios and take positions on the price movements of these essential commodities. GLOBAL EXCHANGES: Zhong Yang Financial Group offers access to various global exchanges, providing clients with opportunities to trade on these platforms. Some of the exchanges they support include the Singapore Exchange (SGX), Hong Kong Exchanges and Clearing (HKEX), Eurex Exchange (EUREX), and Intercontinental Exchange (ICE). Through these exchanges, clients can engage in trading activities involving a wide range of instruments, including stock indices, commodities, and currencies, thus broadening their investment options. Pros and Cons Pros Cons Access to diverse securities No information on trading fees Opportunity to trade global stocks Wide range of futures contracts available Trading in various currency futures Opportunity to trade commodity futures Access to global exchanges Account Types 1. Local Individual Customers: Local individuals need to provide copies of their permanent residency identity card/passport, proof of personal address within the last three months (such as utility bills or bank statements), copies of their bank information, and relevant asset proof if opening a futures account or securities margin account. If opting for postal account opening, they should include a cheque issued from their personal account at a licensed bank in Hong Kong, with a minimum amount of HKD 10,000 or equivalent currency. 2. Non-Local Individual Customers: Non-local individuals must submit their local identity card, Hong Kong/Macau pass/local passport, proof of personal address within the last three months, copies of their Hong Kong licensed bank account information or international bank account information (excluding Mainland China bank accounts), and relevant asset proof if opening a futures account or securities margin account. For postal account opening, a cheque issued from their personal account at a licensed bank in Hong Kong, with a minimum amount of HKD 10,000 or equivalent currency, is required. 3. Corporate Customers: Corporate customers are required to provide their company's registration certificate, business registration certificate, proof of company address within the last three months, copies of identification documents and proof of personal address of all directors, shareholders holding more than 25% of company shares, and authorized individuals. They also need to submit copies of the company's registration license and proof of company address, articles of association or bylaws, board resolution, guarantee documents, identification documents and proof of address of guarantors, recent financial reports or audit reports, and identification documents and proof of personal address of significant controllers. Overseas registered limited companies need to provide various certificates, including the Certificate of Good Standing and Certificate of Incumbency. Pros Cons Clearly defined requirements for account opening for individuals Stringent documentation requirements for non-local individual customers Comprehensive documentation requirements for corporate customers Complex and extensive documentation requirements for corporate customers Postal account opening option available for added convenience Minimum deposit requirement of HKD 10,000 or equivalent currency Service Zhong Yang Financial Group offers a range of services, including fund management, investment advisory, corporate consulting, and portfolio management. How to Open an Account？ 1. In-Person Account Opening: Visit the licensed representative who will provide you with the necessary documents to fill out. Submit the required documents, including identification copies, address proof, and bank information. The representative will explain the risk disclosures and witness your signature. 2. Mail Account Opening (For Overseas Customers Only): Download and print the account opening documents. Fill out and sign all the required forms. Have them verified by a professional recognized by the Securities and Futures Commission or Zhong Yang Financial Group staff. Mail the documents along with a cheque issued from a licensed bank account in Hong Kong, with a minimum amount of HKD 10,000 or equivalent currency, to the company. 3. Electronic Signature Account Opening: Fill out the account opening documents and sign them electronically. Transfer a minimum amount of HKD 10,000 or equivalent currency from your personal Hong Kong local bank account to the company's designated account. Keep the transfer proof and email it along with all the completed and signed documents to the provided email address. Margin Zhong Yang Financial Group sets a margin requirement of 50% for selected stocks, including Bilibili Inc., Bunge Limited, Carnival Corp, Facebook Inc., Matador Res Co, Ontcernal Therapeutics Inc., and Plains All American Pipeline L, as of June 8, 2020. The company reserves the right to adjust or suspend these ratios based on various factors without prior notice to customers. Spreads & Commissions Zhong Yang Financial Group's spreads and commissions vary across different markets and instruments. For example, in the COMEX market, trading the US Gold (GC) has a minimum spread of 0.1 and a commission of 20 USD, while trading the US Silver (SI) has a minimum spread of 0.005 and the same commission. In the NYMEX market, trading Crude Oil (CL) has a minimum spread of 0.01 and a commission of 20 USD. The Hong Kong Exchanges (HKEX) market charges a commission of 1 for trading the Hang Seng Index (HSI). In the stock market, the commission is 0.1%, and for the Shanghai/Shenzhen-Hong Kong Stock Connect, the commission is also 0.1%. In the US stock market, the commission is 0.05 USD per share, with a minimum consumption of 1.99 USD and a financing rate of 8% per annum. Deposit & Withdrawal For deposit, customers can transfer funds from their personal bank accounts to the company's designated accounts. After the transfer is completed, customers need to provide the company with the complete deposit certificate. The company will contact the customer for verification before processing the fund deposit. For futures deposit, customers can make transfers to the designated bank account of Zhong Yang Securities Limited at Bank of China (Hong Kong) Limited. The funds received before 2:00 PM on a trading day will be credited to the customer's account on the same day, while funds received after 2:00 PM will be credited on the next trading day. For securities deposit, customers can make transfers to the designated bank account of Zhong Yang Securities Limited at Bank of China (Hong Kong) Limited. The funds received before 4:00 PM on a trading day (for HK stocks) or before 12:00 PM (for US stocks) will be credited to the customer's account on the same day, while funds received after the specified time will be credited on the next trading day. It is important to note that only funds deposited in the customer's name are accepted, and third-party checks, transfers, or cash deposits to the company's bank accounts are not accepted. Customers are required to promptly send the deposit certificates via email, fax, or upload them to their online trading accounts. Withdrawal requests can be communicated to the company via phone, email, or fax, and a withdrawal application form can be downloaded from the company's website. After confirmation, the company will process the withdrawal and transfer the funds to the customer's registered bank account. Pros Cons Allows customers to transfer funds from personal bank accounts Third-party checks, transfers, or cash deposits not accepted Prompt processing of funds received before specified deadlines Limited channels for withdrawal requests and communication Funds credited to customer's account on the same day or next trading day Deposit certificates required and need to be promptly submitted Trading Platforms Zhong Yang Financial Group offers two trading platforms: 2 GO Securities Trading for Android devices, which can be downloaded from the App Store, and 2 GO Securities Trading for iOS devices, available on the App Store. Additionally, they provide the Yi Sheng Ji Xing 9.5.7 system and the Yi Sheng Ji Xing 9.3.37 system, both of which can be downloaded for immediate use. Pros Cons Multiple trading platforms available for Android and iOS Limited information provided about the platform features Easy accessibility through popular app stores User interface may not be intuitive or user-friendly Availability of downloadable systems for immediate use Limited information on trading platforms Educational Tools Zhong Yang Financial Group provides educational tools to assist its clients. One of the tools is the “Market Trends” section, which provides updates on market dynamics. It includes information on recent market developments and trends that may impact various sectors, such as the oil market and the concerns over Chinese demand. These updates help clients stay informed and make more informed investment decisions. The company also offers a “Company Announcements” section, which includes important announcements and notices. These announcements cover a range of topics, including arrangements during extreme weather conditions, warnings about counterfeit websites and false agents, and exchange rate updates. By providing such information, Zhong Yang Financial Group keeps its clients informed about relevant news and events that may affect their investment strategies and decisions. Customer Support For customer support, Zhong Yang Financial Group provides a customer hotline at +852 31070731. They also offer online consultation services through their office located at Room 1101, 118 Connaught Road West, Hong Kong. Customers can reach out to them via email at CS@zyzq.com.hk or through fax at (852) 2836 3825. Reviews Zhong Yang Financial Group has received negative reviews on WikiFX. There have been reports of difficulties in withdrawing funds, with some users alleging that it is a scam platform that switched to another website to continue fraudulent activities. Other complaints include liquidation caused by Zhong Yang's actions, failure to honor promised commissions, manipulation of trading software, and significant losses suffered by investors. Users have expressed frustration with the platform's lack of responsiveness and alleged attempts to delete or block them after raising complaints. Overall, these reviews indicate a negative experience and caution against engaging with Zhong Yang Financial Group. Conclusion In conclusion, Zhong Yang Financial Group, based in Hong Kong, has both advantages and disadvantages. On the positive side, the company is regulated by the Securities and Futures Commission of Hong Kong, indicating adherence to certain standards. They offer access to a range of securities, futures contracts, currencies, commodities, and global exchanges, providing clients with diverse investment options. Additionally, they provide services such as fund management, investment advisory, corporate consulting, and portfolio management. However, it is important to exercise caution due to reported complaints and negative reviews on platforms like WikiFX. These complaints involve difficulties in fund withdrawals, allegations of fraudulent activities, failure to honor promised commissions, manipulation of trading software, and significant investor losses. Potential customers should carefully consider these factors before engaging with Zhong Yang Financial Group. FAQs Q: Is Zhong Yang Financial Group a legitimate company？ A: Yes, Zhong Yang Financial Group, specifically Zhong Yang Securities Limited, is regulated by the Securities and Futures Commission of Hong Kong. However, exercise caution as there have been recent complaints reported. Q: What market instruments does Zhong Yang Financial Group offer？ A: Zhong Yang Financial Group provides access to securities (including Hong Kong and U.S. stocks), futures contracts (commodities, agricultural products, and indices), currencies, and commodities. Q: What are the different account types offered by Zhong Yang Financial Group？ A: Zhong Yang Financial Group offers account types for local individual customers, non-local individual customers, and corporate customers. Q: What services does Zhong Yang Financial Group offer？ A: Zhong Yang Financial Group offers services such as fund management, investment advisory, corporate consulting, and portfolio management. Q: What are the margin requirements set by Zhong Yang Financial Group？ A: Zhong Yang Financial Group sets a margin requirement of 50% for selected stocks, subject to adjustment without prior notice. Q: What are the spreads and commissions charged by Zhong Yang Financial Group？ A: Spreads and commissions vary across different markets and instruments. The exact charges depend on the specific market and instrument being traded. Q: How can I deposit and withdraw funds with Zhong Yang Financial Group？ A: Funds can be deposited through personal bank transfers, while withdrawal requests can be communicated to the company via phone, email, or fax. Q: What trading platforms are offered by Zhong Yang Financial Group？ A: Zhong Yang Financial Group offers 2 GO Securities Trading for Android and iOS devices, as well as the Yi Sheng Ji Xing systems. Q: Does Zhong Yang Financial Group provide educational tools？ A: Yes, Zhong Yang Financial Group provides educational tools such as market trends updates and company announcements to assist clients. Q: How can I contact customer support at Zhong Yang Financial Group？ A: You can reach customer support through the hotline, online consultation services, email, or fax. Q: What are the reviews of Zhong Yang Financial Group？ A: Reviews on WikiFX indicate negative experiences, including difficulties in fund withdrawals and allegations of fraudulent activities. Exercise caution when dealing with Zhong Yang Financial Group.