JINSHI FUTURES

Overview of Jinshi Futures

Jinshi Futures, founded in 1995 in China, is regulated by the CFFEC and specializes in commodities, bond, and futures trading. The company offers trading services through the CTP trading terminal and a demo app, catering to both personal and joint accounts with a minimum deposit requirement of 10,000 yuan.

Jinshi Futures charges a 0.2% commission on trades without spreads and provides a demo account for new users. Its customer support can be reached at 400 610 8881. For deposits and withdrawals, the company supports various methods including bank transfers, credit/debit cards, and WeChat payments.

Additionally, Jinshi Futures offers an educational resource, the “Invest In” program, to assist clients in navigating the trading landscape.

Is Jinshi Futures Legit or a Scam？

The China Financial Futures Exchange regulates Jinshi Futures Co., Ltd. with a Futures License. This regulatory status is specific to China, under license number 0328. The license type is designated as “No Sharing,” indicating exclusivity in its application.

This regulation ensures that Jinshi Futures operates in compliance with the financial regulatory standards set by the China Financial Futures Exchange.

Pros and Cons

Pros:

1. Regulated by CFFEC:Jinshi Futures is regulated by the China Financial Futures Exchange, ensuring compliance with financial regulations and providing a layer of security for clients.

2. Diverse Trading Options:The company offers trading in commodities, bonds, and futures, giving clients a variety of investment opportunities.

3. Advanced Trading Platforms:Jinshi Futures provides the CTP trading terminal and a demo app, offering advanced and user-friendly trading experiences.

4. Multiple Account Types:With options for personal and joint accounts, the company caters to different needs and preferences of traders.

5. Educational Resources:The “Invest In” program indicates a commitment to educating clients, which is beneficial for new traders.

Cons:

1. High Minimum Deposit:A minimum deposit of 10,000 yuan might be relatively high for small-scale or beginner traders.

2. Limited Deposit & Withdrawal Options:While offering bank transfers, credit/debit cards, and WeChat payments, the lack of other popular international payment methods could be limiting for some users.

3. Commission Charges:The 0.2% commission fee, despite having no spreads, could add up, especially for high-volume traders.

4. Lack of Detailed Company Information:Missing details such as the effective date, expiry date, and contact information of the licensed institution might make it difficult for potential clients to gather comprehensive information about the company.

5. Focus on Chinese Market:Being primarily regulated and based in China might limit the appeal or accessibility for international traders who prefer or require regulation under different jurisdictions.

Market instruments

Jinshi Futures offers a range of market instruments, enabling traders to diversify their portfolios and engage in various types of financial markets:

1. Commodities:

1. Jinshi Futures provides opportunities for trading in commodities. This includes a variety of raw materials and primary agricultural products, allowing traders to speculate or hedge in these markets.

2. Bonds:

1. The company offers bond trading, which includes government and corporate bonds. This allows investors to engage in fixed-income securities, offering a potentially lower-risk investment option compared to stocks.

3. Futures:

1. Specializing in futures contracts, Jinshi Futures enables clients to trade in agreements to buy or sell particular commodities or financial instruments at a predetermined future date and price. This is crucial for both hedging and speculative purposes in various markets.

4. Options (Implied but not Explicitly Stated):

1. While not explicitly mentioned, as a futures trading company, Jinshi Futures may also offer options trading. Options are financial derivatives that give buyers the right, but not the obligation, to buy or sell an asset at an agreed-upon price and date.

5. Demo Trading Account:

1. Although not a market instrument per se, the availability of a demo trading account allows traders to practice and familiarize themselves with market conditions without real financial risk. This is a valuable tool, especially for beginners or those new to Jinshi Futures' platform.

By offering these instruments, Jinshi Futures caters to a range of trading interests and strategies, from direct commodity trading to more complex derivative instruments like futures and potentially options.

Account Types

Jinshi Futures offers two main types of accounts to cater to different client needs:

1. Personal Account:

1. This account type is designed for individual investors. It allows single users to manage their investments and trading activities. Personal accounts are typically suited for retail traders who manage their own funds and make independent trading decisions.

2. Joint Account:

1. A joint account is intended for use by more than one individual, typically used by partners or family members who want to manage their investments collectively. This type of account requires the consent of all parties for transactions and offers a way for groups to pool resources and share investment strategies.

Each of these account types is structured to provide specific services and features that cater to the unique needs of individual and joint investors, offering flexibility and choice in how clients engage with the financial markets through Jinshi Futures.

How to Open an Account？

To open an account with Jinshi Futures Co., Ltd., the process varies slightly depending on whether the applicant is an individual (natural person) or a corporate entity (legal person). Here's an overview of the steps for each type of applicant:For Natural Persons (Individuals):

1. Gather Required Documents:The individual must bring their ID card and a bank card from specific banks (e.g., ICBC, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, Shanghai Pudong Development Bank, Industrial Bank, CITIC Bank, China Minsheng Bank).

2. Identity Verification and Investor Assessment:Jinshi Futures staff will check the provided documents, verify the identity of the client, and conduct an investor suitability assessment to determine the appropriate investor category.

3. Disclosure of Risks and Suitability Matching:The staff informs the client about the suitability of their investment choices and discloses the associated risks of the products they wish to purchase. This process is fully recorded.

4. Documentation and Contract Review:The client is given the “Jinshi Futures Co., Ltd. Futures Brokerage Contract” to read carefully.

5. Risk Disclosure and Client Information:The contents of the “Futures Trading Risk Disclosure Statement” and “Client Notice” are revealed to the client.

6. Signing the Brokerage Contract:The client signs the Futures Brokerage Contract.

7. Account Creation and Trading Code Application:Jinshi Futures opens a futures account for the client and applies for a trading code.

8. Communication of Account Details:The client is informed of their account number and password.

9. Bank-Futures Linkage:The client completes the linkage between their bank and futures accounts.

10. Fund Transfer and Trading:The client transfers funds and can begin trading.

For Corporate Entities (Legal Persons):

1. Gather Required Documents:The opening representative must bring their own ID card, the legal representative's ID card, the ID cards of three associated individuals, a “Letter of Authorization from the Legal Entity,” a “Decision to Engage in Futures Business,” a business license (unified social credit code), the company's official seal, and the legal representative's personal seal.

2. Follow Similar Steps as Individual Account Opening:The process then follows similar steps as for individual accounts, including document and identity verification, risk disclosure, contract signing, account creation, and the communication of account details.

Throughout the process, Jinshi Futures emphasizes the importance of understanding the risks involved in futures trading and ensures that clients are well-informed and suitable for the types of investments they wish to undertake.

Spreads & Commissions

Jinshi Futures charges a commission of 0.2% on transactions, which is applied to trades executed through their platforms. This commission rate is transparent and straightforward, providing clarity to investors and traders regarding the cost associated with each trade they make.

Unlike some other brokers, Jinshi Futures does not impose spreads, which means the cost structure is solely based on commissions and does not include the difference between the bid and ask prices of the traded assets.

The absence of spreads can be particularly advantageous for traders, as it allows for a more predictable cost calculation per trade. However, it's important for clients to be aware that other fees might still apply, potentially including transaction fees, account maintenance, or other service-related charges.

Clients are advised to carefully review Jinshi Futures' detailed fee structure or reach out to their customer support for a comprehensive understanding of all charges that might be incurred in their trading activities.

Trading Platform

Jinshi Futures offers a variety of trading platforms, each catering to different trading needs and preferences:

1. CTP Chairman's Quick Phase Trading Terminal-V3:This is a comprehensive futures and options financial terminal that includes market data and trading capabilities. It uniquely supports full historical market data and comes with a rich set of futures and options technical indicators, as well as options profit and loss analysis. It features innovative multi-screen and multi-K-line chart displays, supports various stop-loss methods such as position stop-loss, automatic stop-loss, and conditional orders, and offers multiple software themes for user preference.

2. CTP Chairman's Quick Phase Trading Terminal-V2:Also known as Quick Phase (Q7) V2, this platform is tailored for CTP Chairman and offers fast, reliable trading. Its features include convenient order placement, modification, and cancellation, an open API interface, a high-performance trading backend, and high-speed exchange communication lines. The interface is custom-designed for user ease.

3. Ying Shun Yun Market Trading Software WH6:This software is a classic in the futures field with a 20-year history, supporting both futures and options. It is known for its smart trading features that integrate market data, analysis, and order placement in a simple, fast, and convenient manner. The software supports multiple server sites, offers stable operation, and comprehensive service.

4. Boyi Master Cloud Trading Version (Including Lightning Hand):Recognized as one of the mainstream market software in China, it supports domestic and international futures and financial indices. The platform provides real-time market displays and charting capabilities for 24-hour global variety watch needs and supports the CTP Chairman.

5. ATP Trading System Professional Version:This system offers global link special line connections, a cloud strategy single system, stable and fast quote trading, and the ability to freely switch between variety quotes and charts. It covers futures, options, and cross-period trading and supports multi-account operations.

6. Quick Phase Futures Trading Terminal V2 (Supports IPv6 Network):This platform is specifically designed for the CTP Chairman and supports the IPv6 network. It emphasizes fast and reliable trading with features like convenient order management, open API interface, high-speed trading backends, and customizable interface layouts.

7. Trade Pioneer TB:This platform comes in two versions: Professional and Flagship. The Flagship version is suited for automated trading, allowing users to convert their trading ideas into computer code and implement unattended trading strategies. The professional version is more suited for manual, especially intraday, traders for its convenience and speed. The platform installation package includes both versions, allowing users to choose according to their needs.

Each of these platforms offers unique features and functionalities, catering to a wide range of trading styles and strategies, from manual to automated trading in futures and options markets.

Deposit & Withdrawal

Jinshi Futures provides a range of options for depositing and withdrawing funds, aiming to accommodate the varied preferences and needs of its clients. The available methods are designed for ease of use and efficiency:

Deposit Methods:

1. Bank Transfer:Clients can transfer funds directly from their bank accounts to their Jinshi Futures account, a common and secure method for transferring large sums.

2. Credit/Debit Card:This includes the use of major credit and debit cards, offering a convenient and fast way to deposit funds.

3. WeChat Payment:Catering to the preferences of clients in China, Jinshi Futures accepts deposits through WeChat, one of the most popular payment platforms in the region.

Withdrawal Methods:

Withdrawals at Jinshi Futures are facilitated through similar channels to the deposit methods. This ensures clients can access their funds with ease and convenience. The process for withdrawals typically involves a request through the client's account portal, followed by a transfer to the designated bank account or card.

Educational Resources

In 2023, Jinshi Futures Co., Ltd. has established a comprehensive educational resource as part of the Xinjiang Internet Culture Festival. This resource focuses on providing training and knowledge in several key areas:

1. Futures Law and Regulations:This segment of the educational resource is dedicated to disseminating knowledge about the legal and regulatory framework governing futures trading. It aims to educate traders and investors about the legal aspects of futures markets, ensuring that they are well-informed about the rules and regulations that affect their trading activities.

2. Options Training Base:Jinshi Futures has set up a training base specifically for options trading. This facility is designed to offer in-depth training and educational materials on options markets, including strategies, risk management, and the technical aspects of options trading.

3. Risk Prevention Awareness:An essential part of the resource is focused on risk prevention. It aims to educate participants on the various risks associated with trading in futures and options and provides insights into effective risk management strategies. This is crucial for traders to make informed decisions and protect their investments.

4. Anti-Money Laundering (AML) Column:The inclusion of an AML column signifies Jinshi Futures' commitment to compliance and ethical trading practices. This section offers education on anti-money laundering policies, procedures, and practices, highlighting the importance of understanding and adhering to AML regulations in the financial trading sector.

Overall, this educational resource by Jinshi Futures represents a significant effort to enhance the knowledge and skills of traders and investors, particularly in the areas of legal regulations, options trading, risk management, and ethical trading practices.

Customer Support

Jinshi Futures provides dedicated customer support services through its Customer Service Department. This department is responsible for handling a variety of client-related tasks, including account opening, customer file management, and addressing customer complaints.

They are focused on delivering quality customer service and ensuring that clients' needs and concerns are efficiently addressed. Clients can reach the customer support team at Jinshi Futures via two primary contact numbers: 400-610-8881 and 0991-2361700.

These contact lines are designed to offer clients easy access to assistance and support, ensuring a smooth and satisfactory trading experience with Jinshi Futures. Whether it's for opening an account, managing their existing account, or resolving any issues, the customer support team is equipped to provide prompt and helpful service.

Conclusion

Jinshi Futures Co., Ltd. stands out as a comprehensive futures and options trading firm based in China. Established in 1995 and regulated by the China Financial Futures Exchange, it offers a variety of trading platforms, including advanced options like the CTP trading terminal, tailored to meet the needs of diverse traders.

With a focus on commodities, bonds, and futures trading, the firm caters to both individual and joint accounts, requiring a minimum deposit of 10,000 yuan. Jinshi Futures emphasizes education and risk awareness through its training programs and legal and regulatory resources, particularly in its 2023 initiative.

The firm's customer support is readily accessible, providing services in account management and client assistance. The 0.2% commission fee structure, absence of spreads, and multiple deposit and withdrawal options, including popular methods like WeChat Payment, add to its appeal.

Overall, Jinshi Futures presents itself as a robust option for traders in the Chinese market, combining regulatory compliance, educational resources, and diverse trading instruments.

FAQs

Q: What types of trading platforms does Jinshi Futures offer？

A: Jinshi Futures offers several trading platforms, including the CTP trading terminal and a range of other software suited for both futures and options trading.

Q: What is the minimum deposit required to open an account with Jinshi Futures？

1. A: The minimum deposit required to open an account with Jinshi Futures is 10,000 yuan.

Q: What types of accounts can I open with Jinshi Futures？

A: Jinshi Futures offers two main types of accounts: personal accounts and joint accounts.

Q: Does Jinshi Futures offer any educational resources for traders？

1. A: Yes, Jinshi Futures offers educational resources, including a training base for options trading and materials on futures law, regulations, and risk prevention as part of the Xinjiang Internet Culture Festival initiative.

Q: How can I contact Jinshi Futures' customer support？

1. A: Jinshi Futures' customer support can be reached at 400-610-8881 or 0991-2361700.

Q: What are the deposit and withdrawal methods available at Jinshi Futures？

1. A: Jinshi Futures allows deposits and withdrawals through bank transfers, credit/debit cards, and WeChat payments.