On Shun Information
On Shun (Company Registration Number: 2640534) is an internationally renowned precious metals investment platform, specializing in spot gold and silver trading for institutional and individual investors. As a member of the AA Class 85 at the Chinese Gold & Silver Exchange Society, On Shun adheres to industry guidelines and Hong Kong financial market standards.
Pros & Cons
Pros:
Specialization in Precious Metals: On Shun focuses on London Gold and Silver commodities, providing specialized trading opportunities in these markets.
Accessible Customer Service: Offers multiple contact channels including telephone, fax, and email, along with a physical address for customer support.
Clear Fee Structure: Specifies fees and margin requirements for trading London Gold and Silver, promoting transparency in trading costs.
MT5 Platform: On Shun offers the MetaTrader 5 (MT5) trading platform, known for its advanced features, including comprehensive market charts, technical analysis tools, and efficient trade execution capabilities.
Cons:
Suspicious Clone Status: Recent reports identify On Shun as a suspicious clone entity, raising concerns about its regulatory legitimacy and authenticity.
Limited Market Focus: Primarily focuses on precious metals trading, which does not appeal to investors seeking broader market diversification or alternative investment opportunities.
No Education Resources: On Shun lacks educational resources such as tutorials, webinars, or articles that could help users learn about trading strategies, market analysis, or platform functionalities.
Is On Shun Legit？
On Shun's regulatory status is concerning as it has been identified as a suspicious clone entity. Despite claiming to be regulated under a Type AA License with License No. 085 by the Chinese Gold & Silver Exchange Society in Hong Kong, there are indications that suggest it may not be an authentic or authorized entity. Investors are advised to exercise extreme caution and verify the legitimacy of On Shun before engaging in any financial transactions or investments.
Market Instruments
On Shun's trading platform specializes in international spot gold and silver commodity transactions, commonly referred to as London Gold and London Silver. These commodities derive their names from their historical trading origins in London, England, where they have been traded for many years. The market for London Gold and London Silver has evolved gradually, establishing influential trading centers across different continents: London in Europe, Hong Kong in Asia, and New York in America.
Spreads & Commissions
On Shun provides competitive spreads and commissions, focusing particularly on London Gold and London Silver commodities. For London Gold trading, the spread is fixed at $0.5 per ounce. This pricing structure allows traders to know the exact cost per unit traded, enhancing transparency. The margin requirement for opening positions is set at 2% of the total contract unit value. Similarly, for London Silver, On Shun offers a tight spread of $0.04 per ounce, ensuring cost-efficiency for traders engaging in silver commodity transactions. The margin requirement for silver trading also stands at 2%, aligning with the gold trading terms to maintain consistency across commodity markets.
Trading Platform
On Shun distinguishes itself with its use of the MT5 trading platform. Developed by MetaQuotes Software Corp., MT5 integrates advanced market charts, technical analysis tools, and comprehensive trading functions into a single platform. On Shun supports multiple versions of the MT5 platform, for diverse users across Windows, iOS, and Android operating systems. The platform's popularity among major investment firms and individual investors underscores its reliability and suitability for navigating global financial markets effectively.
Deposits & Withdrawals
On Shun Golden Holdings facilitates deposits and withdrawals through a straightforward process. The minimum deposit requirement for account funding is $5,000, providing accessibility to traders looking to engage in London Gold and Silver trading, which are denominated in U.S. dollars. Deposits can be made conveniently online through the user center on the official website, where RMB is converted automatically to U.S. dollars upon deposit. For withdrawals, clients can initiate requests online 24 hours a day through the website's user center, with processing occurring on a T+1 basis. Withdrawals requested on Fridays are processed on the following Monday, aligning with standard banking schedules.
Fees
On Shun imposes fees and margin requirements for trading London Gold and London Silver, reflecting its policies for these commodities. For London Gold, a lockup margin of 50% is required based on the sum of the total lockup margin. When buying, clients incur an interest charge of 2%, while selling carries a lower interest rate of 1%. Similarly, for London Silver, the lockup margin requirement also stands at 50% of the total lockup margin. Buying and selling transactions for silver entail a uniform interest rate of 1.5%. These fees and margin requirements are integral to On Shun's pricing structure for precious metals trading.
Customer Service
On Shun provides customer service through various channels, including telephone and fax lines at (+852) 3909 6999 and (+852) 3909 6966 respectively. For inquiries and support, customers can reach out via email at cs@osgold85.com. The company's physical address is located at Room 09, 10th Floor, Wing On Plaza, 62 Mody Road, Tsim Sha Tsui East, Kowloon, conveniently accessible via Exit P1 of the East Tsim Sha Tsui MTR Station.
Conclusion
On Shun is a trading platform specializing in London Gold and Silver commodities, operating under regulatory oversight in Hong Kong. Despite recent concerns about its regulatory status as a suspicious clone entity, On Shun provides access to these precious metals with specified fees and margin requirements. The platform offers customer service through various channels and emphasizes accessibility for investors seeking to engage in commodity trading.
Frequently Asked Questions (FAQs)
Is On Shun regulated？
It is regulated by the Chinese Gold & Silver Exchange (CGSE) Society in Hong Kong. However, its regulatory status is suspicious clone.
Does On Shun offer the industry leading MT4 & MT5？
Yes. MT5 is available on Android, Apple and Windows devices.
What is the minimum deposit for On Shun？
$5,000.
At On Shun, are there any regional restrictions for traders？
No.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
2023-12-21 22:33
