General Information
Established in 2022, SHANGQUAN is an online forex broker registered in Hong Kong, allegedly offering its clients access to diversified range of trading instruments, such as forex, Metals, Bonds, Sahres and more through the leading MT5 trading platform.
Besides, SHANGQUAN provides multiple payment options for its clients to make a deposit and withdrawal.
Is Blaze Markets safe to trade with？
When it comes to regulation, SHANGQUAN disappoints us due to the lack of authorization and licenses to operate forex and CFD trading services.
The regulatory status of SHANGQUAN on the WikiFX website is marked as “No License” and it only receives a quite low score of 1.07/10.
Bear in mind that trading with an unregulated and offshore forex broker contains a high level of risk. Before you deciding on any broker, you are strongly recommended to check out a forex brokers regulatory licenses on WikiFX.
Market Instruments
SHANGQUAN claims to offers its clients access to diversified range of trading instruments, such as Forex, Indices, Bonds, EFTs, Commodities, Shares, Cryotocurrency.
Leverage
With the SHANGQUAN platform, the maximum trading leverage that traders can use is up to 1:400, which is much above the levels considered appropriate by the vast majority of regulators.
Margin trading involves a high level of risk, and it can cause serious fund losses, especially to inexperienced traders. Therefore, it is important for traders to choose the proper amount that they feel most at ease.
Spreads & Commissions
SHANGQUAN hypes that it offers extremely low point difference (Spreads), but it does not specify spread on particular instrument.
Trading Platform
SHANGQUAN offers its clients access to the advanced MT5 trading platform, which can be accessed on any device, Windows, Desktop, Android and IOS. The MT5 trading platform is among the most popular trading platforms around the world, featuring robust charting package, multiple technical indicators, and more importantly, it supports EA, allowing traders to automate trading themselves.
Deposit & Withdrawal
The minimum deposit amount is not disclosed and SHANGQUAN allows its clients to make a deposit and withdrawal through the following channels:
VISA/MasterCard/Maestro
Maestro
Skrill & Neteller
OZOW
Further information about withdrawal and processing time is not shared.
Customer Support
Traders with any inquiries or trading-related issues can get in touch with SHANGQUAN through the following channels:
Telephone: +852 46380612
Email: info@shangquanfx.com
Online Chat (filling in your email address)
Registered Company Address: RM4,16/F,HO KANG COMM CTR,2-16 FAYUEN ST,MONGKOK KL HONG KONG
Risk Warning
There is a level of danger that comes with trading on the financial markets. As sophisticated instruments, foreign exchange, futures, CFDs, and other financial contracts are typically traded using margin, which significantly increases the inherent risks involved, and it is not suitable for all investors.
The information presented in this article is intended solely for reference purposes.
2022-12-14 15:35
2022-12-11 16:19
