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Suspicious Clone
Score
1.51 /10
Danger
CGTL
5-10 yearsSuspicious Regulatory License
High potential risk
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Comparison
Expose
Exposure
Time Machine
Website
Score
Regulatory Index0.00
Business Index6.99
Risk Management Index0.00
Software Index4.00
License Index0.00
Time Machine
Website
Licenses
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
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Warning: Low score, please stay away!
2
Previous Detection :
2024-09-29
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
- The China Hong Kong CGSE regulation (license number: 108) claimed by this broker is suspected to be clone. Please be aware of the risk!
WikiFX Verification
General Information& Regulation
Cheungs Gold Traders Limited (CGTL) was established in 1981 as a dealer based in Hong Kong. The company is authorized and regulated by the Hong Kong Gold and Silver Exchange Society (CGSE) (Regulatory Certificate No. 108).
Business Scope
CGTL mainly provides investors with precious metal related business, including trading of 9999 Tael Gold, HK Silver 1, Local London Gold/ Silver, RMB Kilobar Gold, etc.
Spreads
According to the information on the official website, CGTL charges clients standard spreads of US$0.50 per lot for Local London Gold, HK$10 per lot for 9999 Tael Gold, and RMB 0.15 per lot for RMB Kilobar Gold.
Margin
CGTL charges clients margin for different products, including Initial Margin and Overnight Margin. Each of them is charged at 2% of the margin (per contract lot). When the account balance is less than 70% of the Initial Margin or below, clients will be asked to replenish the margin to the basic margin level.
Fees
The client will pay CGTL including but not limited to commission, lodging fee, shipping fee and other fees, which are variable and subject to adjustment according to market fluctuations.
Trading Platform
CGTL provides clients with access to the world's financial markets through the MetaTrader 4 (MT4) platform, which can be used as a web-based platform on any browser, as well as a desktop download and mobile APP.
Trade Settlement
Investors' transactions at CGTL are mainly settled in HKD/USD. Settlement times are divided into Summer Time and Winter Time. For example, during Summer Time (Hong Kong time), the specific hours are Monday or The Day After Holidays: 08:00 am – Next Day 05:00 am, Tuesday to Thursday: 05:00 am – Next Day 05:00 am, and Friday: 05:00 am – Next Day 03:00 am.
Deposit & Withdrawal
Clients are required to notify CGTL in advance and confirm the transfer, regardless of whether the deposit is made via E-banking, bank wire or other methods. For withdrawals, clients are also required to fill out a withdrawal request form in advance and process it between 9:00am and 4:00pm from Monday to Friday. In general, bank deposit/withdrawal fees are the responsibility of the client.
Customer Service
To ensure that traders can get the help when they need it, CGTL offers support services including direct phone calls, emails, and QQ chats.
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