Overview of Yuanta

Yuanta Securities (Hong Kong) Company Limited (YSHK) is a financial powerhouse in Asia, operating as a wholly-owned subsidiary of Yuanta Financial Holdings Co. Ltd. Registered with the Securities and Futures Commission in Hong Kong, YSHK offers an array of regulated financial activities. As of 2016, Yuantas robust distribution network included 155 securities branches and 152 banking branches staffed by approximately 13,000 professionals.

These experts deliver a comprehensive suite of financial services to Yuanta's diverse client base. The firm's market presence is considerable; in 2016, it controlled 11% of the securities brokerage market and nearly 20% of the securities margin financing market.

Is Yuanta Legit or a Scam？

Given its longstanding history and comprehensive regulation, Yuanta Securities (Hong Kong) Company Limited appears to be a legitimate and reputable financial services provider. The company is registered with the Securities and Futures Commission and is a Participant of the Hong Kong Exchanges and Clearing Limited, further cementing its credibility. In a market where legitimacy is crucial for client trust, YSHKs regulatory affiliations make it a reliable option for retail and institutional investors alike.

Pros and Cons

Pros:

• Diverse Product Offering: Yuanta offers a wide range of financial services beyond just securities trading, including banking, insurance, and asset management.

• Regulated Entity: Being a licensed corporation, Yuanta operates under strict regulatory oversight, ensuring a high level of trust and security.

• Strong Market Presence: With a significant share in both the securities and financing markets, Yuanta is a dominant player in the industry.

Cons:

• Fee Structure: Depending on the products you engage with, the fees can be on the higher side.

• Complexity: With such a wide range of services and instruments, the platform might be overwhelming for beginner traders.

Market Instruments

Yuanta provides a broad spectrum of market instruments tailored to meet the diverse needs of its retail and institutional clients. Retail clients have access to a multitude of stock options spanning from Hong Kong (HK), Shanghai (SH), Shenzhen (SZ), Taiwan, the United States, and more. They can also engage in trading futures and options. For institutional clients, YSHK acts as an advisory, providing multiple avenues for investment. This makes Yuanta a one-stop-shop for multiple financial instruments, giving clients the ability to diversify their portfolios extensively.

Account Types

Yuanta Securities (Hong Kong) Company Limited, also known as YSHK, requires specific documents for opening both individual and corporate accounts.

For individual accounts, Hong Kong Permanent Residents must provide a certified true copy of their HKID card, while non-permanent residents or non-residents must provide a certified true copy of their valid ID card or passport. All individual account holders also must provide proof of their residential address issued within the last 3 months.

As for corporate accounts, companies need to provide documents including a certified true copy of their Certificate of Incorporation, Business Registration Certificate, Memorandum & Articles of Association, latest audited account or financial statements, Latest Register of Directors, Latest Register of Shareholders, and others.

How to Open an Account？

To open an account with Yuanta Securities (Hong Kong) Company Limited or YSHK, individuals and corporations have to provide respective documents.

Individual account applicants who are Hong Kong Permanent Residents must submit a certified true copy of their HKID card, while Non-Permanent Residents or Non-Residents need to provide a certified true copy of their valid ID Card or passport. All individual applicants need proof of residential address issued within the last 3 months. If these addresses are different from one another, proof for each address is required.

For corporate accounts, various documents are needed including copies of Certificate of Incorporation, Business Registration Certificate, Memorandum & Articles of Association, latest audited account or financial statements, Latest Register of Directors and of Shareholders, and more. Documents proving the identity and residential address of all substantial shareholders, ultimate beneficial owners, and authorized individuals are also required.

For companies incorporated overseas, a certified true copy of a certificate of incumbency is needed, and if the company has complex ownership structures, specific documents tracing the chain of ownership to the ultimate beneficial owners are also necessary.

Leverage

While the specifics regarding leverage can vary based on the market instrument and type of account, Yuanta typically offers leverage to enhance trading capabilities. However, it's crucial to understand that while leverage can amplify profits, it also increases the risk of losses. Yuanta, being a regulated entity, likely offers leverage within the constraints of financial regulations to ensure responsible trading. Always consult with the brokerage or a financial advisor to understand the implications of using leverage in your trading activities.

Spreads & Commissions

Yuanta has a transparent fee structure, which is crucial for traders calculating their potential costs and profits. For instance, for trading in Hong Kong stocks, the commission is set at 0.25% of the traded volume, with a minimum charge of 100 HKD, plus some additional fees. This clear fee structure allows both retail and institutional investors to make informed decisions about trading costs. Before committing, it's wise to compare these fees with other market offerings to determine their competitiveness.

Trading Platform

YSHK provides multiple trading platforms to suit various customer preferences and trading styles. These include eWinner for Windows and PC users, eWinner Plus for iOS and Android devices, and YSHK SP Trader also available across PC, iOS, and Android. These platforms are designed to provide real-time analytics, a wide range of trading tools, and a user-friendly interface. This array of options makes it easy for traders to manage their investments efficiently, whether they are in the office or on the go.

Deposit & Withdrawal

Depositing and withdrawing funds from your YSHK account is a straightforward process. Clients have the flexibility to fund their accounts through local banks, checks, and overseas transfers. This makes it convenient for both local and international clients to manage their funds. The multi-channel deposit and withdrawal options aim to provide a seamless customer experience, reinforcing YSHKs commitment to client satisfaction.

Customer Support

Customer support is a critical aspect of any financial service, and Yuanta Securities (Hong Kong) Company Limited appears to prioritize this. For English-speaking clients, Yuanta offers a dedicated contact number: +852 3555 7878. This hotline is likely staffed by skilled customer service representatives proficient in English, ready to address a wide array of customer concerns and queries.

In addition to the hotline, Yuanta also provides email support for more detailed or document-intensive inquiries. Clients can reach out to HK.Services.brk@yuanta.com for assistance. The availability of email support adds a layer of convenience, as customers can send in their questions or issues without the immediacy or time constraints of a phone call.

Brokers Comparison

Educational Resources

Yuanta Securities (Hong Kong) Company Limited, commonly referred to as YSHK, provides extensive educational resources as part of its Research & Commentary. These resources impart valuable insights in the industry, featuring a wide range of comprehensive market analysis, in-depth reports, and informative commentary from their expert research team. The materials are designed to assist clients in making well-informed investment decisions, provides traders and investors with key market trends, and keeps them updated about important developments in the financial landscape.

Conclusion

Yuanta Securities (Hong Kong) Company Limited is a well-regulated, diverse, and established financial service provider in Asia. With a broad range of market instruments, transparent fee structures, and versatile trading platforms, it caters to both retail and institutional clients effectively. However, always remember to carry out your due diligence and consult a financial advisor before making investment decisions.

FAQs

Q: What types of trading instruments does Yuanta offer？

A: Yuanta provides a diverse range of trading instruments, including HK stocks, SH Stocks, SZ stocks, Taiwan stocks, US stocks, China B stocks, Overseas stocks, Futures, and Options.

Q: Is Yuanta regulated by any financial authorities？

A: Yes, Yuanta Securities (Hong Kong) Company Limited is regulated by the Securities and Futures Commission of Hong Kong, ensuring a high level of compliance and security for traders.

Q: What platforms are available for trading with Yuanta？

A: Yuanta offers multiple trading platforms, including eWinner, eWinner Plus, and YSHK SP Trader, catering to traders on both desktop and mobile devices.

Q: How can I deposit or withdraw funds from my Yuanta account？

A: Yuanta offers multiple methods for deposit and withdrawal, including transactions through local banks, checks, and overseas transfers, providing flexibility for both local and international traders.

Q: What is the commission structure for trading Hong Kong stocks with Yuanta？

A: The commission for trading HK stocks is 0.25% of the traded volume with a minimum charge of 100 HKD, along with some additional fees.

Q: What types of accounts does Yuanta offer？

A: Yuanta provides both retail and institutional accounts, allowing for a broad spectrum of trading needs and investment strategies to be accommodated.

Note: Oval X (ETX)s services have now been discontinued.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

What is Oval X？

ETX have completed a re-branding exercise and it is called “Oval X”. Oval X is a trading brand of Monecor (London) Limited, company registration number 00851820. As a member firm of the London Stock Exchange, Monecor (London) Limited is regulated by the Financial Conduct Authority (Financial Services Registration Number. 124721), however, it is a suspicious clone.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

Oval X Alternative Brokers

There are many alternative brokers to Oval X depending on the specific needs and preferences of the trader. Some popular options include:

• Z.com Trade - a reputable online broker with a user-friendly platform and competitive trading conditions, making it a good choice for traders of all experience levels.

• AETOS - a trusted broker known for its strong regulatory compliance, extensive product offerings, and comprehensive trading tools, making it a reliable option for traders looking for a diverse range of investment opportunities.

• Hirose Financial - offers a reliable trading environment, competitive spreads, and a wide range of trading instruments, making it a recommended choice for traders seeking a trusted broker with a solid track record.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is Oval X Safe or Scam？

Based on the information available, Oval X is an unregulated broker with a suspicious Financial Conduct Authority (FCA, License No. 124721) license. Furthermore, there are reports of withdrawal issues and scams associated with the company. These factors raise significant concerns about the safety and legitimacy of Oval X as a trading platform.

Traders are advised to exercise caution and conduct thorough research before engaging with unregulated brokers, as the risks of financial loss and fraudulent activities are higher in such cases. It is recommended to choose regulated brokers that adhere to industry standards and provide a higher level of investor protection.

Market Instruments

Oval X offers investors a diverse range of tradeable financial instruments across various markets. Traders can access a wide selection of currency pairs in the Forex market, allowing them to participate in global currency trading. Additionally, Oval X provides access to popular stock indices, enabling traders to speculate on the performance of major equity markets.

The platform also offers a range of individual stocks, giving investors the opportunity to trade shares of well-known companies. Furthermore, Oval X provides access to Contracts for Difference (CFDs), allowing traders to speculate on the price movements of various underlying assets such as commodities and more. With this comprehensive offering of market instruments, Oval X aims to cater to the diverse trading preferences of its clients.

Accounts

Oval X provides two distinct account types that align with the trading platforms it offers. The first account type is the Trader Pro account, which is designed to cater to the needs of traders using Oval X's proprietary trading platform. The second account type is the MT4 account, specifically tailored for traders who prefer the popular MetaTrader4 platform.

One notable advantage of Oval X's account offerings is the relatively low minimum initial deposit requirement of $100. This lower entry barrier makes Oval X an attractive choice for new beginners in the trading industry who may have limited initial capital.

Leverage

Oval X offers traders different leverage options depending on the financial instruments they choose to trade. For currency pairs, Oval X provides leverage of up to 1:200, allowing traders to amplify their trading positions in the foreign exchange market. When it comes to indices, the leverage offered is 1:20, providing traders with increased exposure to a basket of stocks representing a specific market. For individual stocks, Oval X offers leverage of 1:5, enabling traders to potentially magnify their gains or losses based on their trading decisions.

In the case of precious metals like gold, Oval X provides leverage of 1:20, allowing traders to capitalize on price movements in this popular commodity. For silver, copper, and platinum, Oval X offers leverage of 1:10, giving traders the opportunity to participate in the market with enhanced trading power. It's important to note that while leverage can amplify potential profits, it also increases the risk of losses, and traders should exercise caution and proper risk management strategies when utilizing leverage in their trading activities.

Spreads & Commissions

Oval X offers competitive spreads on a range of financial instruments. For popular currency pairs such as EUR/USD, the minimum spread is as low as 0.6 pips and the average spread is 0.81 pips, allowing traders to access tight pricing and potentially reduce trading costs. Similarly, for other currency pairs like EUR/JPY, the minimum spread is 0.9 pips, providing traders with favorable pricing conditions. When it comes to indices, Oval X offers spreads of 1 pip for both UK and Wall Street indices, enabling traders to participate in the movements of these key markets with competitive pricing.

For precious metals like gold, the minimum spread is as low as 0.4 pips, offering traders favorable conditions for trading this popular commodity. The spread for silver is even narrower at 0.03 pips, providing traders with tight pricing on this metal. For commodities such as crude oil and natural gas, Oval X offers spreads of 0.03 and 0.02 pips respectively, giving traders access to these markets with low trading costs.

In terms of commissions, Oval X charges 0.1% per deal for UK and European stock trades, 2 cents per share for US major and minor stock trades, and 0.2% per deal for Australian stock trades. These commission rates are competitive and transparent, allowing traders to have a clear understanding of the costs associated with their trades.

Below is a comparison table about spreads and commissions charged by different brokers:

Note: The information presented in this table may be subject to change and it is always recommended to check with the broker's official website for the latest information on spreads and commissions.

Please note that spreads and commissions may vary based on market conditions and account type. It's always recommended to check with the respective broker for the most up-to-date information.

Trading Platforms

Oval X offers traders a choice between two robust and versatile trading platforms: MetaTrader4 and Oval X Trader Pro. The MetaTrader4 platform is widely recognized and highly regarded in the industry, known for its user-friendly interface, advanced charting capabilities, and a wide range of technical indicators. Traders can access the MetaTrader4 platform on their computers, smartphones, or tablets, providing flexibility and convenience in managing their trades.

On the other hand, Oval X Trader Pro is the broker's own developed trading platform, offering similar features and functionality to MetaTrader4. Traders using Oval X Trader Pro can also enjoy multiple chart types, a comprehensive suite of technical indicators, and customizable tools to suit their trading preferences.

Whether traders prefer the familiarity of MetaTrader4 or the tailored experience of Oval X Trader Pro, both platforms offer a seamless trading experience across different devices, allowing traders to access the markets and execute trades with ease and efficiency.

See the trading platform comparison table below:

Deposits & Withdrawals

Oval X provides its clients with a variety of convenient and secure deposit methods. Traders can fund their accounts using bank wire transfers, internet wire transfers, VISA/MasterCard/Maestro, UnionPay, e-wallets including Skrill and NETELLER, with no commissions charged for these transactions. This flexibility allows traders to choose the payment method that suits them best.

Oval X minimum deposit vs other brokers

When it comes to withdrawals, Oval X Capital offers its clients the benefit of 5 free withdrawals per calendar month for amounts over $100, ensuring that traders can access their funds without incurring additional costs. However, it is important to note that Oval X Capital incurs fees from the bank for processing withdrawal requests. As a result, if a client exceeds the 5 monthly free withdrawals, a fee of $25 per withdrawal will be charged. This fee applies to withdrawals made after the fifth withdrawal in a calendar month and ensures the sustainability of the withdrawal process while maintaining the convenience and affordability of withdrawals for most traders.

See the deposit/withdrawal fee comparison table below:

Customer Service

If potential clients or existing clients encounter some problems during their trading process, they can reach out to this Oval X through the following contact channels:

• Service Time: Monday to Friday: 7:30 am to 9 am - UK time

• Telephone: +44 (0)207 392 1434, +44 (0)207 392 1400

• Email: customer.service@ovalx.com

Or you can also follow this broker on some social media platforms, such as Facebook, Twitter, YouTube, LinkedIn and Telegram.

Overall, Oval X's customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Note: These pros and cons are subjective and may vary depending on the individual's experience with Oval X's customer service.

User Exposure on WikiFX

On our website, you can see that some reports of unable to withdraw and scams. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

Education

Oval X places great emphasis on providing valuable educational resources to its clients. Through regular publication of webinars, blogs, news, and analysis, Oval X aims to empower traders with knowledge and insights to enhance their understanding of the market and refine their investment strategies. These educational materials cover a wide range of topics, including market trends, trading techniques, risk management, and fundamental and technical analysis.

Conclusion

Based on the available information, it is important to approach Oval X with caution. The lack of regulation and reports of withdrawal issues raise concerns about the safety and reliability of the platform. Traders are advised to thoroughly assess the risks associated with trading on an unregulated platform and consider alternative options that offer stronger regulatory oversight. It is crucial to prioritize the security of funds and ensure transparency when choosing a trading platform.

Frequently Asked Questions (FAQs)