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RUIDA FUTURES

China|5-10 years|
Regulated in China|Futures License|Suspicious Scope of Business|High potential risk|

https://www.rdqh.com/

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Rating Index

Influence

Influence

C

Influence index NO.1

China 3.44

Surpassed 76.73% brokers

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Contact

rdqhwlb@rdqh.com
https://www.rdqh.com/
福建省厦门市思明区桃园路18号26-29层
The WikiFX Score of this broker is reduced because of too many complaints!

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No restriction on the broker account. Support service provided by WikiFX

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40G

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Broker Information

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Company Name

瑞达期货股份有限公司

Company Abbreviation

RUIDA FUTURES

Platform registered country and region

China

Company website

Pyramid scheme complaint

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WikiFX Risk Alerts
Previous Detection : 2024-03-29
  • The number of the complaints received by WikiFX have reached 14 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

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    RUIDA FUTURES · Company Summary

    Aspect Information
    Company Name RUIDA FUTURES
    Registered Country/Area China
    Founded Year 2012
    Regulation CFFEX
    Products Single asset management plan,collective asset management plan
    Basic Margin Rate From 13% to 55%
    Trading Fees Depends on products and exchanges,from 1.2yuan/trade
    Trading Platforms Ruida Futures Jinshida Trading,third-party trading platform
    Demo Account Available
    Customer Support Phone: 4008-8787-66
    Deposit & Withdrawal Bank transfer
    Educational Resource Future Academy

    Overview of RUIDA FUTURES

    Ruida Futures, established in 2012 and based in China, operates under the regulation of CFFEX (China Financial Futures Exchange).

    The company specializes in offering both single and collective asset management plans, with a basic margin rate ranging from 13% to 55%. Trading fees vary depending on the products and exchanges, starting from 1.2 yuan per trade.

    Ruida Futures provides a proprietary trading platform, “Jinshida Trading,” along with access to third-party trading platforms. They also offer a demo account for practice trading.

    Customer support is available via phone at 4008-8787-66, and the company supports bank transfer methods for deposits and withdrawals.

    Additionally, Ruida Futures offers educational resources through its “Future Academy” to aid clients in understanding futures trading.

    Overview of RUIDA FUTURES

    Is RUIDA FUTURES Limited Legit or a Scam?

    The China Financial Futures Exchange (CFFEX) regulates (RUIDA FUTURES) with a Futures License, designated under license number 0170. This license, specifically for futures trading, ensures that the institution operates within the regulatory framework set by CFFEX in China.

    The status of the license is currently active and regulated, highlighting the company's compliance with the necessary legal and operational standards set forth by Chinese financial regulatory authorities.

    Is RUIDA FUTURES Limited Legit or a Scam?

    Pros and Cons

    Pros Cons
    Various Asset Management Options Changing Trading Fees
    Educational Resources Limited Deposit & Withdrawal Options
    Dedicated Trading Platform Geographic Focus
    Dedicated Trading Platform Margin Rate Variability
    Regulatory Compliance Language and Cultural Barriers

    Pros of Ruida Futures:

    1. Various Asset Management Options: Ruida Futures offers both single and collective asset management plans, catering to individual investment preferences and the need for diversified portfolio management.

    2. Educational Resources: The availability of “Future Academy” provides valuable educational support, helping both new and experienced traders to better understand futures trading.

    3. Demo Account Availability: Offering a demo account allows clients to practice trading strategies in a risk-free environment, which is particularly beneficial for beginners.

    4. Dedicated Trading Platform: The proprietary “Jinshida Trading” platform, along with access to third-party platforms, gives traders flexibility and a variety of tools for executing trades.

    5. Regulatory Compliance: Being regulated by CFFEX ensures that Ruida Futures adheres to the regulatory standards and practices of the Chinese financial market, adding a layer of security for clients.

    Cons of Ruida Futures:

    1. Changing Trading Fees: The fees depending on products and exchanges might lead to unpredictability in trading costs, which could be a concern for cost-conscious traders.

    2. Limited Deposit & Withdrawal Options: Only supporting bank transfers for deposits and withdrawals might limit the convenience for clients who prefer other methods of fund transfer.

    3. Geographic Focus: As a China-based firm, their products and services might be more tailored to the Chinese market, which could limit appeal and accessibility for international investors.

    4. Margin Rate Variability: The wide range of the basic margin rate, from 13% to 55%, could be challenging for traders to manage, particularly those with limited capital or risk tolerance.

    5. Language and Cultural Barriers: For non-Chinese speaking clients, there might be language and cultural barriers in accessing full services and support, depending on the companys international client handling capabilities.

    Market Instruments

    Ruida Futures offers a range of collective asset management plans and single asset management plan.

    1. Single Asset Management Plan:

      1. Ruida Futures' Single Asset Management Plan focuses on individual asset management strategies.

      2. This type of plan is typically tailored to the specific investment goals and risk tolerance of an individual investor.

      3. It allows for more personalized portfolio management, where investments are chosen and managed based on the unique preferences and requirements of the investor.

      4. The Single Asset Management Plan is suitable for investors seeking a focused and individualized approach to asset management.

    2. Collective Asset Management Plan:

      1. Ruida Futures offers various Collective Asset Management Plans, such as the Ruizhi Worry-Free Win-Win No. 10, Ruizhi Enterprising Win-Win No. 5, and Ruizhi Worry-Free Win-Win No. 12.

      2. These plans fall under the 'Collection' type category and are designed for investors with medium to high risk tolerance (R4 level).

      3. They are suitable for qualified investors with a risk identification, assessment, and tolerance of C4 (active) and C5 (aggressive).

      4. These collective plans pool resources from multiple investors, providing a diversified approach to asset management and are typically managed according to a defined strategy or objective.

      5. The Collective Asset Management Plans do not accept subscriptions from investors whose risk identification ability and tolerance are lower than the product's risk level, ensuring alignment with investor risk profiles.

    Market Instruments

    Basic Margin Rate

    Here are the basic margin rates for selected commodities on various exchanges:

    1. Shanghai Futures Exchange :

    The Shanghai Futures Exchange (SHFE) is one of China's major futures exchanges, founded in 1999. It offers a wide range of futures contracts, including metals like silver (contract code: AG), aluminum (AL), gold (AU), and copper (CU), as well as energy products like crude oil (BU).

    SHFE requires margin rates ranging from 13% for HC (hot-rolled coil) to 21% for BR (butadiene rubber) for its contracts.

    1. Zhengzhou Commodity Exchange :

    The Zhengzhou Commodity Exchange (ZCE) was established in 1990 and is known for its agricultural and industrial commodity contracts.

    It offers contracts for products such as cotton (contract code: CF), rapeseed oil (OI), and corn (C). ZCE imposes margin rates, including 16% for cotton (CF) and 23% for red dates (CJ).

    1. Dalian Commodity Exchange :

    The Dalian Commodity Exchange (DCE) was founded in 1993 and focuses on agricultural and industrial commodities. Notable contracts include soybeans (A), corn (C), and iron ore (I). DCE requires traders to meet margin rates, such as 15% for corn (C) and 21% for iron ore (I).

    1. China Financial Futures Exchange :

    The China Financial Futures Exchange (CFFEX) specializes in financial derivatives and was established in 2006. It offers contracts like stock index futures and government bond futures. CFFEX sets margin requirements, which are relatively lower compared to physical commodities, making it accessible to financial traders.

    1. Shanghai Energy Exchange :

    The Shanghai Energy Exchange (SSE) focuses on energy-related contracts, including crude oil (SC) and low sulfur fuel oil (LU). It sets margin rates to ensure traders have sufficient funds to cover potential losses, with SC requiring an 18% margin.

    1. Zhengzhou Commodity Exchange :

    The Zhengzhou Commodity Exchange (ZCE) offers futures contracts for commodities like lithium carbonate (LC) and industrial silicon (SI). Margin requirements vary by contract, with LC requiring a 17% margin and SI requiring a 17% margin as well.

    Trading Fees

    Ruida offers different types of trading fees,vary depending on the products and exchanges.

    Shanghai Futures Exchange (SHFE): On SHFE, various commodities are traded. For example, Silver (AG) has a trading unit of 15 kilograms per contract with a trading fee of 0.6%. Aluminum (AL) is traded in 5-ton contracts with an 18 CNY trading fee. Gold (AU) has a trading unit of 1000 grams per contract, with a trading fee of 12 CNY (60 CNY for 6/12 contracts). These are just a few examples of the products traded on SHFE.

    Dalian Commodity Exchange (DCE): DCE offers a range of commodities for trading. Soybean No.1 (A) is traded in 10-ton contracts with a 12 CNY trading fee. Soybean No.2 (B) has a trading unit of 10 tons with a trading fee of 6 CNY per contract. Corn (C) is also traded in 10-ton contracts with a trading fee of 7.2 CNY per contract. These are some of the products available on DCE.

    Zhengzhou Commodity Exchange (ZCE): ZCE offers commodities such as Apple (AP), which is traded in 10-ton contracts with a 30 CNY trading fee (120 CNY for closing today positions). Cotton No.1 (CF) has a trading unit of 5 tons with a 25.8 CNY trading fee. These are a couple of examples of the products traded on ZCE.

    Shanghai International Energy Exchange (INE): INE deals with energy-related products. Crude Oil (SC) is traded in 1000-barrel contracts with a trading fee of 120 CNY per contract. These are some of the energy products available on INE.

    Zhengzhou Commodity Exchange (CFFEX): CFFEX focuses on financial products. The Shanghai 50 Stock Index (IH) is traded with a trading fee of 1.38% of the contract value plus a 1 CNY application fee. These are some of the financial products traded on CFFEX.

    Guangzhou Futures Exchange (GFEX): GFEX offers commodities like Lithium Carbonate (LC), traded in 1-ton contracts with a trading fee of 4.8% (38.4% for specific contracts). Industrial Silicon (SI) has a trading unit of 5 tons with a 6% trading fee. These are examples of products available on GFEX.

    How to Open an Account?

    Opening an account with RUIDA FUTURES can typically be broken down into the following three steps:

    1. Registration: Visit the RUIDA FUTURES website and navigate to the account opening section. Fill in the registration form with your personal details, such as your name, contact information, and any other required identification details. It's important to ensure that all information provided is accurate and up-to-date.

    2. Verification: After registration, you will likely need to go through a verification process. This usually involves submitting proof of identity (such as a passport or national ID card) and proof of residence (like a utility bill or bank statement). This step is crucial for compliance with regulatory requirements and to ensure the security of your account.

    3. Funding Your Account: Once your account is verified, you can proceed to fund it. Choose a suitable deposit method from the options available, which may include bank transfers, credit/debit cards, or third-party payment systems.

    How to Open an Account?

    Trading Platform

    RUIDA FUTURES offers two trading platforms:basic trading software and third-party trading software.

    Basic trading software

    1. Jinshida Trading 6.46.20210415.1: This platform features a range of order types (including ordinary, batch, and conditional orders), enhanced support for new financial products, high reliability, and a user-friendly interface. It's designed for speed, security, and convenience, also offering a bank-futures transfer function.

    2. Point Gold Hand 8.2.20210514.1: This platform provides a panoramic ordering style for fast and intuitive trading, strong security measures (like OTPs and SSL), and a customizable one-click order function. It offers an all-in-one interface with real-time updates and supports load balancing for smooth operation.

    Trading Platform

    Third-party trading software

    1. “Boyi Master,” :It's a comprehensive futures trading and market analysis software popular in China. This platform integrates market analysis with trading capabilities, offering a range of order types,and robust risk management tools.

    2. ShinnyClient, another trading software, known for its technical analysis tools and historical data review features. Like Boyi Master, ShinnyClient caters to the needs of future traders, offering a variety of analytical tools and user-friendly interfaces.

    Both these software packages are among many others available in the market, each designed to meet specific trading and analytical needs of investors in the futures market.

    Trading Platform

    Deposit & Withdrawal

    For RUIDA FUTURES, the deposit can only through the bank transfer.

    • payment method

    Ruida lists several banks in China that offer futures transfer services, allowing customers to manage deposit and withdrawal transactions between their bank accounts and futures trading accounts. These banks include:

    1. China Construction Bank

    2. Bank of Communications

    3. Industrial and Commercial Bank of China

    4. Agricultural Bank of China

    5. Bank of China

    6. Industrial Bank

    7. China Minsheng Bank

    8. Shanghai Pudong Development Bank

    9. China Merchants Bank

    10. China Everbright Bank

    11. CITIC Bank

    Clients can choose any of these eleven banks to facilitate their futures transfers.

    Customer Support

    RUIDA FUTURES emphasizes accessible and efficient customer support, offering a variety of channels to assist clients. Their primary customer service hotline is available at 4008-8787-66, providing a direct line for general inquiries and support.

    For more specialized business consultations, clients can utilize dedicated phone numbers 028-86785593 and 028-86533138, ensuring expert advice for specific trading and investment queries.

    Additionally, RUIDA FUTURES accommodates the growing preference for digital communication with an online customer service option, allowing for immediate and convenient online consultations. This multi-channel approach demonstrates their commitment to offering comprehensive and responsive support to their clients.

    Customer Support

    Educational Resource

    RUIDA FUTURES offers a comprehensive educational resource known as the “Futures Academy.” This platform is dedicated to providing in-depth knowledge and insights into the world of futures trading and investment.

    It covers a wide range of topics, from basic trading concepts to advanced strategies, catering to both beginners and experienced traders. The academy likely includes various forms of learning materials such as articles, tutorials, video lectures, and possibly interactive sessions.

    These resources are designed to help traders understand market dynamics, develop effective trading strategies, and enhance their risk management skills.

    By offering such educational support, RUIDA FUTURES demonstrates its commitment to empowering its clients with the necessary tools and knowledge to navigate the complex world of futures trading successfully.

    Educational Resource

    Conclusion

    Ruida Futures, established in 2012 and registered in China, is regulated by CFFEX. It offers diverse financial products including single and collective asset management plans.

    The trading fees vary depending on the products and exchanges. Ruida provides its proprietary “Jinshida Trading” platform, along with access to third-party trading platforms, and also offers a demo account for practice trading.

    The company supports customer queries through its phone line and facilitates transactions via bank transfer. Additionally, Ruida Futures enriches its clients' trading knowledge through its educational resource, the Future Academy.

    This array of services and resources positions Ruida Futures as a comprehensive and accessible futures brokerage catering to a wide range of traders in the Chinese market.

    FAQs

    Q: What kind of regulation does Ruida Futures follow?

    A: Ruida Futures is regulated by the China Financial Futures Exchange (CFFEX).

    Q: What financial products does Ruida Futures offer?

    A: Ruida Futures offers single and collective asset management plans as its primary financial products.

    Q: What are the margin rates and trading fees at Ruida Futures?

    A: The basic margin rate at Ruida Futures ranges from 13% to 55%, and the trading fees vary depending on the products and exchanges, starting from 1.2 yuan per trade.

    Q: What trading platforms are available through Ruida Futures?

    A: Ruida Futures provides its own “Jinshida Trading” platform along with access to various third-party trading platforms.

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

    A: Yes, Ruida Futures offers educational resources through its 'Future Academy,' aimed at enriching the trading knowledge of its clients.

    User Reviews

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    Wera
    more than one year
    I encountered difficulties in withdrawing funds and reached out to customer support. To my surprise, their solution was to become a VIP user by paying additional fees for supposedly better service. Really?
    2024-01-16 11:59
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    sahdb
    more than one year
    Made several deposits with RUIDA FUTURES, but now facing withdrawal issues. Assistants keep asking for more deposits and ignore withdrawal requests. Frustrating experience with no response on my withdrawal request so far. Not a positive impression due to lack of transparency and unresponsiveness.
    2023-12-21 22:28
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