Overview of Miracle China
Miracle China, established in 1995, operates as a prominent financial services provider based in China and is regulated by the China Financial Futures Exchange. The company offers a diverse range of financial products, including commodity and financial futures, options, CFDs, IPO advisory, and wealth management services. With varying minimum deposits depending on the account type, such as 1,000 RMB for a Micro Account, Miracle China provides accessible entry points for traders.
The spreads start from 0.25 points, emphasizing competitive pricing. Clients can choose from multiple trading platforms, both mobile and desktop, to execute trades efficiently. The array of account types, ranging from Standard to Wealth Management, caters to the needs of traders with different experience levels and preferences.
The company facilitates various deposit and withdrawal methods, including bank wire transfers and popular online payment options, with a withdrawal fee of 10 RMB. Educational resources are provided through the Futures Academy, covering fundamental topics and offering specialized question banks for commodities.
Pros and Cons
Pros:
Regulated by China Financial Futures Exchange (CFFEX), ensuring compliance with industry standards and regulations.
Competitive spreads starting from 0.25 points, which can be attractive to traders who are looking to minimize their trading costs.
Offers a wide range of financial products, including futures, options, and CFDs, giving traders the flexibility to choose the products that best suit their trading strategies.
Provides live chat and phone support for immediate assistance, which can be helpful for traders who need help with their accounts or have questions about the trading platform.
Accepts a variety of payment methods, including online payments and credit cards, making it easy for traders to deposit and withdraw funds from their accounts.
Offers a comprehensive Futures Academy that covers the basics of futures trading, options trading, and more, which can be a valuable resource for new traders or traders who are looking to learn more about the markets.
Cons:
Specific spread details for different asset classes are not provided on the Miracle China website, which can make it difficult for traders to compare the costs of trading different products.
There is no information on the Miracle China website about the features or user experience of the trading platform, which can make it difficult for traders to decide if the platform is right for them.
Miracle China does not offer a demo account, which can limit new traders' ability to practice trading before they risk their own money.
Regulatory Status
Miracle China operates within the regulatory framework of the China Financial Futures Exchange (CFFEX), adhering to the regulations set forth by the regulatory agencies in China. As of the current status, Miracle China is regulated by the Chinese government, ensuring compliance with the necessary financial standards and guidelines. The company holds a Futures License, with License No. 0261, indicating its authorization to engage in futures trading activities. This regulatory oversight underscores Miracle China's commitment to maintaining transparency, integrity, and adherence to established rules within the financial sector.
Market Instruments
Miracle China offers a diverse array of financial products and services tailored to meet the needs of both individual and institutional clients. The company provides commodity futures encompassing a wide range of commodities, including crude oil, natural gas, coal, metals, agricultural products, and livestock. In addition to commodity futures, Miracle China engages in financial futures trading involving instruments such as stocks, bonds, and currencies. The company also offers options, allowing clients the flexibility to buy or sell underlying assets at predetermined prices and times.
Further, Miracle China facilitates margin trading, enabling traders to enter positions with a small percentage of the total value as collateral. The inclusion of Contracts for Difference (CFDs) allows clients to speculate on asset prices without ownership. Additionally, Miracle China extends its services beyond traditional trading by offering IPO advisory services to assist companies in going public and wealth management solutions for effective investment portfolio management.
Account Types
Miracle China offers a variety of account types to meet the needs of traders of all experience levels.
Standard Account: This is the most basic account type offered by Miracle China. It is suitable for traders who are new to the market or who have a small amount of capital to trade with. Standard accounts have no minimum deposit requirement, but they do have higher margin requirements than other account types.
Mini Account: This account type is similar to the standard account, but it has lower margin requirements. This makes it a good option for traders who want to trade more contracts with a smaller amount of capital. Mini accounts have a minimum deposit requirement of 3,000 RMB.
Micro Account: This account type is the most restrictive account type offered by Miracle China. It has the lowest margin requirements, but it also has the most limitations. Micro accounts have a minimum deposit requirement of 1,000 RMB and are limited to trading contracts with a notional value of 10,000 RMB or less.
Margin Account: This account type is for experienced traders who want more flexibility and control over their trades. Margin accounts allow traders to use leverage, which means they can borrow money from their broker to increase their trading power. This can be a great way to increase profits, but it can also increase losses. Margin accounts require a minimum deposit of 10,000 RMB.
Commodity Trading Account: This account type is specifically designed for traders who want to trade commodities futures. It offers a variety of features that are tailored to the needs of commodity traders, such as access to a wider range of commodity futures contracts and special pricing for commodity commissions. Commodity trading accounts require a minimum deposit of 10,000 RMB.
Financial Trading Account: This account type is specifically designed for traders who want to trade financial futures. It offers a variety of features that are tailored to the needs of financial traders, such as access to a wider range of financial futures contracts and special pricing for financial commissions. Financial trading accounts require a minimum deposit of 10,000 RMB.
Options Account: This account type is specifically designed for traders who want to trade options. It offers a variety of features that are tailored to the needs of options traders, such as access to a wider range of options contracts and special pricing for options commissions. Options accounts require a minimum deposit of 10,000 RMB.
Investment Account: This account type is specifically designed for traders who want to invest in CFDs (Contracts for Difference). It offers a variety of features that are tailored to the needs of CFD traders, such as access to a wider range of CFD contracts and special pricing for CFD commissions. Investment accounts require a minimum deposit of 10,000 RMB.
Wealth Management Account: This account type is specifically designed for traders who want to manage their investments. It offers a variety of features that are tailored to the needs of wealth management clients, such as access to a wider range of investment products and special pricing for investment commissions. Wealth management accounts require a minimum deposit of 10,000 RMB.
How to Open an Account？
To open an account with Miracle China, you can choose to open a mobile account or an online account. The system is open from 8:40 AM to 5:45 PM on trading days.
To open a mobile account:
Download the Miracle China APP.
Click on “Open Futures Account”
Upload and fill in your basic information.
Select your investor type: retail investor or professional investor.
Fill out the investor risk assessment questionnaire.
Select your account type.
Agree to the agreements.
Verify your identity.
To open an online account:
Go to the Miracle China website.
Click on “Open Account”
Follow the same steps as for opening a mobile account.
Spreads & Commissions
Miracle China imposes a comprehensive fee structure, covering various aspects of trading activities. Commissions are applied to all trades, with rates contingent on the asset class and contract size, ensuring a tailored approach to transaction costs. Spreads, representing the bid-ask price differential, also vary based on the asset class and contract size, influencing the overall cost of trading. Margin interest is levied on all margin accounts, typically set at 5% above the one-year LIBOR rate, adding a financing component to trading.
Additionally, overnight fees are applicable to positions held overnight, calculated at 0.05% of the contract value. This multifaceted fee system reflects Miracle China's commitment to transparency while considering the diverse nature of financial instruments and trading strategies employed by its clients.
Deposit & Withdrawal
Miracle China offers a variety of convenient payment methods to facilitate transactions. Clients can fund their accounts through bank wire transfers, providing a seamless and traditional option for financial transactions. For online payments, Miracle China accepts China UnionPay, Alipay, and WeChat Pay, catering to the digital preferences of clients. In addition, the company accommodates credit card and debit card payments, providing flexibility in choosing the preferred mode of transaction.
However, online payments may be subject to a small fee, which is outlined to ensure clarity for clients. In terms of withdrawals, Miracle China imposes a withdrawal fee of 10 RMB for all transactions, providing a straightforward understanding of the cost associated with cashing out funds.
Trading Platform
Miracle China provides a versatile range of trading platforms accessible on both mobile and desktop devices.
On mobile, clients can use the Miracle China app for Android and iOS, the Zang Shang Cai Fu app for Android, Tong Hua Shun Futures Gateway for Android and iOS, and Wen Hua Cai Jing-Sui Shen Xing for Android and iOS.
For desktop trading, Miracle China offers the Shen Hua Futures - Pengbo Boyi Master, supporting comprehensive functionality including customizable indicators, arbitrage analysis, rapid order placement, and algorithmic trading. The platform also automatically selects gateways and supports the Dalian Commodity Exchange's large-margin system.
Other desktop options include Wen Hua Ying Shun WH6, offering an intelligent trading experience, the Goldman Sachs Online Trading - Standard Edition, integrating various features, and the Miracle China Point Gold Hand and Lightning King systems, which bring advanced technology, user-friendly interfaces, and unique trading experiences to investors.
Additionally, platforms like QuickTerm Trading Terminal-V2 (CTP), TBQuant, and Tong Hua Shun Trading Software cater to different trading preferences, offering simplicity, convenience, and efficiency for futures investors.
Customer Support
Miracle China prioritizes robust customer support through various channels to address the needs and concerns of its clients. The company offers a live chat feature, providing real-time assistance to users seeking immediate help or information. This allows clients to engage with knowledgeable support representatives swiftly, enhancing the overall customer experience.
Additionally, Miracle China can be reached by phone at 0755-83510988, providing clients with a direct and accessible communication channel. The combination of live chat and a dedicated phone line demonstrates the company's commitment to fostering effective communication and providing timely assistance to ensure that clients receive the support they require in navigating the complexities of financial transactions and services.
Educational Resources
Miracle China offers a comprehensive set of educational resources under the banner of “Futures Academy.”
This educational platform covers fundamental aspects of futures trading, including basic knowledge about futures and options. The curriculum encompasses essential topics such as futures basics, options fundamentals, the latest courses, a specialized question bank for unique commodities, an introduction to various financial instruments, and insights into investor activities.
This diverse range of educational materials caters to both novice and experienced investors, providing a structured learning path to understand the intricacies of futures and options trading. The inclusion of specific commodity-related question banks and introductions adds depth to the educational offerings, ensuring clients have access to relevant and up-to-date information.
Conclusion
In conclusion, Miracle China provides a diverse array of trading platforms and educational resources, catering to the varied needs of investors in the futures market. The availability of mobile and desktop platforms ensures flexibility, and the comprehensive Futures Academy offers valuable knowledge for both novice and experienced traders. The platforms, such as Shen Hua Futures - Pengbo Boyi Master and Wen Hua Ying Shun WH6, showcase advanced features, algorithmic trading capabilities, and user-friendly interfaces.
However, it's important to note that some platforms may have a steeper learning curve due to their extensive functionalities. Additionally, while the range of educational resources is commendable, users may face language barriers if they are not proficient in Chinese.
FAQs
Q: What payment methods are accepted by Miracle China？
A: Miracle China accepts various payment methods, including bank wire transfers, online payments through China UnionPay, Alipay, and WeChat Pay, as well as credit and debit card transactions.
Q: How does Miracle China charge for withdrawals and deposits？
A: While there is no deposit fee for bank wire transfers. For withdrawals, Miracle China imposes a fixed withdrawal fee of 10 RMB for all transactions.
Q: How diverse are the trading platforms offered by Miracle China？
A: Miracle China provides a variety of trading platforms for both mobile and desktop users.
Q: How does Miracle China support its clients through customer service？
A: Miracle China offers customer support through live chat and a dedicated phone line.
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