SHKFOREX

About company:

SHK Forex is a Hong Kong-based brokerage that offers online trading in 40 currency pairs, futures, stock options and stocks, as well as access to the Shanghai and Shenzhen Stock Exchanges.

 

Company. Fund security

The broker is part of the Sun Hung Kai Financial (SHKF) group, which is one of the first financial companies to offer online trading and is licensed by the Hong Kong Securities and Futures Commission (“SFC”). The group has an extensive network of branches and offices in Hong Kong, Macau and mainland China.

 

The SFC licensing procedure is long and complex. Each applicant must have a certain share capital in his account and carry out activities to record and control all monetary transactions.

 

In addition, in December 2015, the Code of Regulated Companies was amended to require SFC license holders to include clauses in client contracts allowing investors to claim damages if an intermediary sells or recommends a financial product that is not suitable for the client.

 

Trading conditions

SHK Forex offers a single commission account with NDD execution, up to 1:20 leverage, variable spreads and the ability to trade micro lots.

 

Minimum initial deposit

Traders need to deposit a minimum of $ 5,000 to open an account with SHK Forex. This is a very large amount that will stop many traders. In comparison, many regulated companies can open an account with $ 100.

 

Spreads and commissions

This broker offers floating spreads and does not charge any commission. The spreads differ depending on the platform the trader is working on. On MT4, spreads average 1.6 pips on EUR / USD (under stable market conditions).

 

For clients who choose to trade stocks, a flexible commission system is available: from 0.138% to 0.088% commission rate with a minimum transaction fee of $ 88.

 

Leverage

While most brokerages provide leverage levels from 1: 200 to 1: 400, SHK Forex offers up to 1:20 leverage, which is very low.

 

Trading platforms

The client can choose between two platforms, depending on their trading style:

 

EBSHK MT4 - customized version of the popular MetaTrader4

 

FX Trader Pro

 

MT4 has gained popularity among traders due to a wide range of experts, a variety of indicators for technical analysis, and a set of charts. The terminal can be accessed via PC and mobile phone. So the client can trade from anywhere in the world, provided that he has an Internet connection.

 

FX Trader Pro is available from both a web browser and mobile devices. The terminal provides direct access to prices from major investment banks, provides useful tools and features, and API trading.

 

Promotions

There is no information on the promotions on the company's website.

 

Support service

Open Monday through Friday from 8 am to 10 pm (GMT + 8). You can contact employees of the company by e-mail, phone. Experts advise in Chinese and English. The live chat function is not available. You can also follow the company's news on social networks.

 

Ways of payment

SHK Forex customers can make deposits and withdrawals through credit or debit card payments, bank transfers and electronic funds transfer (EFT) through PPS. Detailed instructions for each method are presented on the website.

 

Pros:

 

regulated broker; competitive spreads; demo version; choice of trading platforms, including MT4 available.

 

Minuses:

 

high initial deposit.