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In this review, we delve into the operations and offerings of Qisheng Futures, a well-established brokerage firm based in China. Overall, Qisheng Futures presents a mixed picture: while it boasts a variety of trading instruments and regulatory oversight, concerns regarding its customer service and limited platform options persist. Notably, Qisheng Futures is regulated by the China Financial Futures Exchange (CFFEX), which adds a layer of credibility.
Note: It is essential to recognize that trading experiences may vary significantly across different regions, and users should be aware of the specific regulations that apply to their location.
Category | Rating (out of 10) |
---|---|
Account Conditions | 6.5 |
Tools and Resources | 6.0 |
Customer Service and Support | 5.5 |
Trading Experience | 6.5 |
Trustworthiness | 7.0 |
User Experience | 6.0 |
How We Rate Brokers: Our ratings are based on comprehensive reviews and comparisons of key features, user feedback, and expert opinions.
Founded in 1993, Qisheng Futures, officially known as Shandong Qisheng Futures Co., Ltd., has established itself as a prominent player in the Chinese futures market. The firm is headquartered in Zibo, Shandong Province, and has expanded its operations to various cities, including Shanghai and Shenzhen. Qisheng Futures offers a range of trading platforms, although it notably does not support popular platforms like MetaTrader 4 or 5. Instead, it provides proprietary trading software designed for futures trading, alongside access to various asset classes, including commodities, financial futures, and foreign exchange.
The firm is regulated by the CFFEX, which oversees the operations of futures trading in China, ensuring that brokers adhere to strict standards for client protection and market integrity.
Qisheng Futures operates primarily within China and is regulated by the CFFEX. This regulatory oversight is crucial for ensuring the safety of client funds and maintaining market integrity. However, the scope of this regulation may not extend globally, which could be a consideration for international traders.
Deposits and withdrawals at Qisheng Futures can be made through various banks, including the Agricultural Bank of China and the Industrial and Commercial Bank of China. Currently, the platform does not support cryptocurrency transactions, which may limit options for some traders.
The minimum deposit required to open an account with Qisheng Futures is significantly lower than many competitors, making it accessible for new traders. However, specific amounts may vary depending on the account type and trading preferences.
While Qisheng Futures does not prominently advertise bonuses or promotions, it is advisable for potential clients to inquire directly with the brokerage about any ongoing offers or incentives for new account holders.
Qisheng Futures offers a diverse range of trading instruments. These include commodity futures (such as gold and crude oil), financial futures (including stock index futures), and agricultural futures. This variety allows traders to diversify their portfolios and manage risk effectively.
The cost structure at Qisheng Futures is competitive, with spreads that vary based on the asset class and market conditions. Commission fees are applicable for certain account types, particularly for trades executed on the ECN platform. It is essential for traders to review the fee schedule carefully to understand the total cost of trading.
Qisheng Futures offers leverage options that are generally in line with industry standards. However, the specific leverage ratios may vary depending on the asset class being traded. Traders should be aware of the risks associated with high leverage and manage their positions accordingly.
As mentioned, Qisheng Futures does not support widely used platforms like MT4 or MT5. Instead, it provides proprietary software that may not have the same level of familiarity for many traders. This could impact the overall user experience, particularly for those accustomed to more popular trading platforms.
While Qisheng Futures is primarily focused on the Chinese market, it is crucial for potential international clients to verify whether they can open accounts based on their local regulations. This is particularly important given the varying degrees of regulatory oversight across different regions.
Customer support at Qisheng Futures is available in multiple languages, catering to a diverse client base. However, the quality and responsiveness of customer service have been noted as areas needing improvement, with some users reporting delays in response times.
Category | Rating (out of 10) |
---|---|
Account Conditions | 6.5 |
Tools and Resources | 6.0 |
Customer Service and Support | 5.5 |
Trading Experience | 6.5 |
Trustworthiness | 7.0 |
User Experience | 6.0 |
Account Conditions (Rating: 6.5): Qisheng Futures provides a range of account types with competitive minimum deposits, making it accessible for new traders. However, the lack of flexibility in trading platforms may deter some users.
Tools and Resources (Rating: 6.0): The proprietary trading software may lack some advanced features found in popular platforms like MT4, which could limit analysis capabilities for some traders.
Customer Service and Support (Rating: 5.5): Customer service has received mixed reviews, with some users experiencing delays in response. This is an area where Qisheng Futures could improve.
Trading Experience (Rating: 6.5): The diverse range of asset classes available for trading enhances the overall trading experience, though the proprietary platform may not meet all traders' expectations.
Trustworthiness (Rating: 7.0): Being regulated by the CFFEX adds a layer of trust, although prospective clients should still conduct thorough research to ensure the broker meets their needs.
User Experience (Rating: 6.0): While the user interface is functional, the lack of familiarity with proprietary platforms may pose a challenge for new users transitioning from more recognized platforms.
In conclusion, Qisheng Futures presents a viable option for traders looking to enter the Chinese futures market, but potential clients should weigh the pros and cons carefully. The brokerage's regulatory status offers assurance, but the overall trading experience may vary based on individual preferences and needs. As always, conducting due diligence and consulting with financial experts is recommended before making any investment decisions.
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