Wing Fung Spreads, leverage, minimum deposit Revealed

　　Wing Fung is a member of the Chinese Gold and Silver Exchange in Hong Kong (CGSE) (Member No. 34) and enjoys the status of Bullion Group, casting 999.9 and 99 gold bars under the “Wing Fung” brand recognized in Hong Kong. Additionally, Wing Fung has been appointed by the Chinese Gold and Silver Exchange as a liquidity provider for the loco London gold market.

Pros and Cons

Is Wing Fung Legit?

　　Yes, Wing Fung is regulated by the Chinese Gold & Silver Exchange Society (CGSE) and Securities and Futures Commission of Hong Kong (SFC).

Regulated Country	Regulated Authority	Current Status	Regulated Entity	License Type	License Number
	The Chinese Gold & Silver Exchange Society (CGSE)	Regulated	永豐珠寶國際有限公司	Type AA License	034
	Securities and Futures Commission of Hong Kong (SFC)	Regulated	Wing Fung Futures Limited	Dealing in futures contracts	AMU683
	Securities and Futures Commission of Hong Kong (SFC)	Revoked	Wing Fung Forex Limited	Leveraged foreign exchange trading	ARI401
	Securities and Futures Commission of Hong Kong (SFC)	Exceeded	Wing Fung Securities Limited	Common Financial Service License	AAV717

What Can I Trade on Wing Fung?

Account Type

　　Investors can choose between 368 Cash Account and Margin Account for trading Hong Kong stocks. The 368 Cash Account charges 0.05% of the transaction amount (minimum charge of HK$38 per transaction). The Margin account charges are 0.1% of the transaction amount (minimum charge of HK$38 per transaction).

Commission

　　Wing Fung offers competitive spreads on its forex instruments. For forex instruments, the spread on the EUR/USD pair starts from 1 pip, GBP/USD pair from 2 pips, AUD/USD pairs from 2 pips.

　　The broker does not charge any commissions on forex trades, which makes it attractive for traders who do not want to incur extra fees.

Trading Platform

Deposit and Withdrawal

　　Wing Fung offers traders three deposit methods.

　　The first one is banking deposit, and traders need to deposit funds (cash, cheque, transfer or wire transfer) to Bank of China (Hong Kong) / Bank of East Asia / China Construction Bank (Asia) / DBS Bank (Hong Kong), OCBC Wing Hang Bank where Wing Fung Precious Metals has opened accounts, all cheques must be crossed.

　　The second way is to deposit via PPS. Customers need to open a PPS account and complete the relevant account opening procedures. Then they can immediately transfer funds to their securities account with the company online or using the PPS system over the phone (for deposits via PPS, HK$5 will be charged for each deposit of less than HK$5,000).

　　The third way is to fast payment system (FPS). Regarding refunds, some bank branches may suspend or shorten the service hours due to the current epidemic. The customer's withdrawal request will be changed from Monday to Friday from 2:00 pm to 12:00 noon.