Score
XIANG RONG
New Zealand|2-5 years| http://weibang518.com/en/index.html
Website
Rating Index
Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
New Zealand
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskUsers who viewed XIANG RONG also viewed..
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Website
weibang518.com
Server Location
Hong Kong
Website Domain Name
weibang518.com
Website
GRS-WHOIS.HICHINA.COM
Company
ALIBABA CLOUD COMPUTING (BEIJING) CO., LTD.
Domain Effective Date
2013-10-07
Server IP
208.87.207.71
-
swingswan.info
Server Location
Hong Kong
Website Domain Name
swingswan.info
Server IP
208.87.207.71
-
rongxiang-fx.com
Server Location
Hong Kong
Website Domain Name
rongxiang-fx.com
Server IP
208.87.207.71
Company Summary
| XIANG RONG | Basic Information |
| Registered Country | China |
| Founded Year | With 1 year |
| Company Name | XIANG RONG |
| Regulation | FinCEN |
| Tradable Assets | forex pairs, cryptocurrencies |
| Account Types | Basic, Advanced, VIP |
| Demo Account | No |
| Islamic Account | No |
| Minimum Deposit | $500 |
| Maximum Leverage | 1:500 |
| Spreads | from 0.5 pips ( VIP account) |
| Trading Platforms | MT4 |
| Payment Methods | Bank Transfers, Credit Cards, Debit Cards, Online payment system |
| Educational Tools | No |
| Customer Support | No |
Overview of XIANG RONG
XIANG RONG is a trading platform that provides financial market services. Established just one year ago, the company operates in China. It is regulated by FinCEN.
To begin trading with XIANG RONG, a minimum deposit of $500 is required. XIANG RONG offers three distinct account types to cater to the varying needs of traders: Basic, Advanced, and VIP. The broker offers a maximum leverage of 1:500, allowing traders to amplify their positions. Spreads on different account types start from as low as 0.5 pips, particularly for the VIP account. The trading platform provided by XIANG RONG is MT4, a widely recognized and popular platform among traders.
Unfortunately, XIANG RONG does not provide a demo account or an Islamic account option, which may limit the opportunities for traders seeking to test their strategies or adhere to Islamic principles. Additionally, customer support services are not available, which can present challenges for traders in need of assistance.
Pros & Cons
XIANG RONG presents some advantages for traders, including a wide selection of trading instruments and support for the popular MT4 trading platform. They offer multiple account types, providing flexibility to suit different trading preferences. The broker also offers generous leverage options, with a maximum of 1:500.
However, it is important to consider some drawbacks. The educational resources provided by the broker are limited, potentially hindering traders looking for comprehensive learning materials. Additionally, the minimum deposit requirement is relatively high across all account types. Furthermore, there is a lack of contact information available, making it difficult for clients to reach out to customer support.
| Pros | Cons |
| MT4 trading platform supported | Limited educational resources |
| Multiple account types and options | Higher minimum deposit requirement for all taccount types |
| Generous leverage offering up to 1:500 | No contact info left |
| Negative reviews and complaints from some clients | |
| Spreads not competitive with the Basic account |
Is XIANG RONG Legit or a Scam？
XIANG RONG claims to be regulated by the Financial Crime Enforcement Network (FinCEN), an authority responsible for combating financial crimes. They state that they hold a Crypto-License license, with license number 31000235453779. Upon further investigation, it appears that the license held by XIANG RONG, identified as Crypto-License license, may not specifically support forex trading-related activities. It is crucial for individuals interested in engaging with this broker to carefully review the license and its associated permissions to ensure alignment with their trading needs and expectations.
Market Instruments
When it comes to market instruments, XIANG RONG offers a limited range of trading options to cater to different investment strategies. From the traditional forex pairs to commodities, indices, and even cryptocurrencies like Bitcoin and Ethereum, they've got a little something for everyone. You can dive into the exciting world of global markets and explore the opportunities presented by these various instruments.
Account Types
Moving on to account types, XIANG RONG offers a tiered structure to accommodate the varying needs and preferences of traders.
Basic Account: The Basic Account is an excellent starting point for traders. It requires a high minimum deposit of $500, making it unfriendly to a wide range of regular traders. With this account, clients are offered spreads starting from 1.5 pips, with no commissions charged. The leverage offered is up to 1:200, allowing you to amplify your trading positions. Traders with a Basic Account have access to a variety of trading instruments, including major currency pairs, commodities, and indices.
Advanced Account: The Advanced Account caters to traders with more experience and a higher level of commitment. To open an Advanced Account, a much higher minimum deposit of $5,000 is required. With this account, clients are promised to benefit from tighter spreads starting from 0.8 pips, with no commission charged too. The leverage available is up to 1:400, providing increased trading power. In addition to the instruments available in the Basic Account, the Advanced Account offers a broader range of assets, including cryptocurrencies.
VIP Account: The VIP Account is designed for high-volume and professional traders who require premium trading conditions. To qualify for a VIP Account, a minimum deposit of $25,000 is necessary. With a VIP Account, you can enjoy the tightest spreads starting from 0.5 pips, with no commission charged. The leverage offered is up to 1:500, allowing for significant trading flexibility. Traders with a VIP Account have access to an extensive range of trading instruments, including forex, commodities, indices, and cryptocurrencies.
| Account Type | Minimum Deposit | Spreads | Leverage | Trading Instruments |
| Basic Account | $500 | From 1.5 pips | Up to 1:200 | Major currency pairs, commodities, indices |
| Advanced Account | $5,000 | From 0.8 pips | Up to 1:400 | Major currency pairs, commodities, indices, cryptocurrencies |
| VIP Account | $25,000 | From 0.5 pips | Up to 1:500 | Forex, commodities, indices, cryptocurrencies |
How to Open an Account with XIANG RONG？
Opening an account with XIANG RONG is a straightforward process. Here's a quick overview of the steps involved:
Visit the XIANG RONG website and click on the “Open Account” button.
Fill in the necessary personal information, such as your name, email address, and contact details.
Complete the account verification process by providing the required identification documents, such as a passport or driver's license.
Once your account is verified, proceed to fund your account using the available deposit methods.
After funding your account, you can download the trading platform provided by XIANG RONG and start trading.
Leverage
Now let's talk about leverage. XIANG RONG offers competitive leverage options, with the maximum trading leverage reaching up to 1:500. It's important to note that leverage amplifies both potential profits and losses, so it should be used with caution. While high leverage can offer the opportunity for greater returns, it also increases risk exposure. If you choose to trade with XIANG RONG or any other unregulated broker offering such high leverage, it's crucial to understand the associated risks and ensure you have a solid risk management strategy in place.
Spreads & Commissions (Trading Fees)
Spreads and commissions at XIANG RONG vary depending on the chosen trading accounts. For the Basic Account, spreads start from 1.5 pips, which is a relatively standard offering in the industry. As you move up to the Advanced Account, the spreads become even more competitive, starting from 0.8 pips. Finally, the VIP Account offers the tightest spreads, starting from 0.5 pips.
In terms of commissions, XIANG RONG operates on a commission-free model for most account types. This means that you won't be charged any additional fees on top of the spreads. However, note that certain trading instruments, such as cryptocurrencies, may have a small commission applied.
Non-Trading Fees
In addition to spreads and commissions, XIANG RONG applies certain other fees that traders should be aware of. These fees are related to overnight interest, deposit and withdrawal transactions, as well as inactivity.
Firstly, let's talk about overnight interest fees, also known as swap fees. XIANG RONG follows the industry-standard practice of applying overnight interest charges for positions held overnight.
While XIANG RONG does not charge any deposit fees, it's essential to check with your specific payment provider as they may impose their own transaction fees. Similarly, withdrawal fees may apply, and the amount can vary depending on the withdrawal method chosen.
Regarding inactivity fees, XIANG RONG does not explicitly mention any charges related to dormant or inactive accounts on their website. However, it's important to carefully review their terms and conditions or contact their customer support to confirm if there are any specific policies regarding account inactivity.
Trading Platform
XIANG RONG offers the renowned MetaTrader 4 (MT4) trading platform, which is highly regarded and widely recognized in the industry.
XIANG RONG provides traders with access to the powerful and versatile MT4 platform, known for its stability, flexibility, and advanced trading capabilities. The MT4 platform offers a user-friendly interface, making it suitable for both novice and experienced traders. It provides a seamless trading experience with easy-to-navigate menus and intuitive charting tools. Traders can access a wide range of financial instruments, including forex, commodities, indices, and cryptocurrencies, all available for trading on MT4.
The platform offers real-time price quotes and interactive charts, allowing traders to analyze market trends, identify trading opportunities, and make informed decisions. Traders can execute various types of orders, including market orders, pending orders, and stop orders, enabling precise trade entries and exits. MT4 supports automated trading with the use of Expert Advisors (EAs), which are customizable trading algorithms that can execute trades based on pre-defined rules and conditions.
XIANG RONG provides the MT4 mobile app for traders to access the markets anytime, anywhere, using their smartphones or tablets.
Deposit & Withdrawal
Deposit Options:
Bank Transfers: Traders can deposit funds into their XIANG RONG trading account through bank transfers. This option allows for secure and direct transfers from your bank account to your trading account.
Credit/Debit Cards: XIANG RONG accepts major credit and debit cards, providing a convenient and quick way to fund your trading account.
Electronic Payment Systems: The broker supports popular electronic payment systems, such as Skrill, Neteller, and PayPal. These platforms offer fast and secure online transactions.
Deposit Fees:
XIANG RONG does not charge any deposit fees. However, third-party payment providers may impose transaction fees. Traders should consider checking with their payment provider for any applicable charges.
Withdrawal Options:
Bank Transfers: Traders can withdraw their funds by initiating a bank transfer from their XIANG RONG trading account to their designated bank account.
Credit/Debit Cards: XIANG RONG allows withdrawals to be made directly to the same credit or debit card used for the initial deposit.
Electronic Payment Systems: Withdrawals can also be processed to electronic payment systems like Skrill or Neteller, providing a convenient option for those who prefer online transfers.
Withdrawal Processing Time:
The processing time for withdrawals at XIANG RONG may vary depending on several factors, including the chosen withdrawal method and any necessary verification procedures. Typically, withdrawals are processed within a reasonable timeframe, aiming to ensure prompt delivery of funds to traders.
Verification Requirements:
XIANG RONG may require additional verification steps before processing withdrawals. This is done to ensure the security of funds and comply with regulatory guidelines. Traders may be asked to provide identification documents or other necessary information to verify their account.
As specific details and policies related to deposits and withdrawals may be subject to change, it is advisable to refer to XIANG RONG's official website or contact their customer support for the most up-to-date information.
User Experience
It is important to note that XIANG RONG has garnered numerous complaints and negative reviews, with allegations of fraudulent practices and scams.
While negative feedback and complaints should be taken seriously, it is vital to conduct thorough research, consider multiple reviews from reputable sources, and evaluate the credibility and reputation of the reviewers themselves. To make well-informed decisions, potential clients should diligently review the broker's regulatory status, trading conditions, fees, customer support, and the transparency and reliability of their operations. Seeking advice from industry experts, consulting experienced traders, and obtaining professional guidance can provide valuable insights when assessing the broker's credibility.
Customer Support
At the moment, XIANG RONG does not provide any visible contact information on their website or platform, making it difficult to directly reach out to their customer support team.
Conclusion
In conclusion, XIANG RONG, as a broker, has raised significant concerns due to numerous complaints and negative reviews suggesting potential fraudulent activities. The lack of transparent information, inadequate customer support, and absence of educational resources are further red flags that raise doubts about the broker's credibility and commitment to client satisfaction. The overall lack of trust and negative reputation surrounding XIANG RONG should prompt individuals to explore alternative options that prioritize transparency, regulatory compliance, and reliable customer support.
FAQs
Q: Is XIANG RONG a regulated broker？
A: Yes. It is regulated by FinCEN.
Q: What are the available account types offered by XIANG RONG？
A: XIANG RONG offers three account types: Basic, Advanced, and VIP.
Q: Does XIANG RONG provide a demo account for practice？
A: No.
Q: What are the payment methods accepted by XIANG RONG？
A: XIANG RONG accepts various payment methods, including bank transfers, credit/debit cards, and online payment systems.
Q: Are there any hidden fees associated with XIANG RONG？
A: XIANG RONG may charge fees for certain services, such as overnight interest fees, deposit and withdrawal fees, and inactivity fees. It is important to review their fee structure and terms and conditions for a clear understanding of the potential costs involved.
Q: What trading platforms does XIANG RONG offer？
A: XIANG RONG provides the popular MetaTrader 4 (MT4) trading platform, known for its user-friendly interface, advanced charting tools, and automated trading capabilities.
Keywords
- 2-5 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
Review 18
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被骗的人3456
Hong Kong
The system operates two-way lock orders in the background to prevent positions from being closed. Fortunately, my friend stopped me, so I didn't make a deposit. A female liar on Kuaishou added me as a QQ friend, concerns about me, and tempted me to download the platform to invest and make money. I made a deposit. At this time, a liar came and said that I should increase my principal, and he would help me make money in a day, and I deposit a total of 140,000yuan. The two-way lock order in the background of the system prevents liquidation, which caused me to be cheated. I hope that the relevant departments will thoroughly investigate Lin Shaohua, Li Zhenning, and Manager Yang, the three big liars, and they will be caught sooner or later!
Exposure
2023-06-10
1233219153
Hong Kong
These three people are a gang of scammers. Returne the principal to me. The platform found various reasons, saying that my account had been operated in different places many times, which violated regulations. Claiming that my credit score is low and deny my withdrawal
Exposure
2023-05-18
FX3537085990
Hong Kong
The platform find many excuses. Saying that my account has been operated multiple times in different locations, violating regulations, and when making withdrawals, I also found a reason to say that due to a decrease in credit score, I was not allowed to withdraw the funds and had to pay to make up for the credit score before withdrawing. This is a typical fraudulent behavior.
Exposure
2023-05-17
FX2042631191
Hong Kong
Keep delaying and saying that my credit is insufficient. I deposit 75k and it is 5 points away to be able tow withdraw. Return my principal. I give up the profit.
Exposure
2023-05-17
无聊3351
Hong Kong
At the beginning, they add you via Kuaishou and gain your trust, then chatted with QQ and then downloaded stock trading, and then downloaded mt5 and finally couldn’t withdraw money
Exposure
2023-05-17
FX2042631191
Hong Kong
It is a lie to say that I have failed to log in and withdraw from different places many times, resulting in insufficient credit points and unable to withdraw funds. Return my principal and I will stop trading, and the profits will be given up
Exposure
2023-05-16
xiangrong平台炒XAUUSD被骗五万美金
Hong Kong
There are various excuses to deny withdrawal and ask you to deposit more to withdraw. They decide whether you can withdraw or not after deposit. It is definitely a scam. After dismantling them, Lin canceled my account forcibly. If anyone is cheated into depositing money, please contact the public security department in time to stop the payment and reduce the loss
Exposure
2023-05-16
xiangrong平台炒XAUUSD被骗五万美金
Hong Kong
Lin, Luo, Li, and manager Yang are a gang. A scam group. Deny your withdrawal by various reasons and keep asking you to deposit. Scam.
Exposure
2023-05-15
Calgary
Hong Kong
I saw that someone has been cheated, and I hope everyone must keep their eyes open and doesn’t be cheated again. The customer service manager Yang invited by Lao Lin is one of them. He has been cooperating with the so-called Lao Lin and other trustees to deposit money Good harvest, everyone. If you think about it carefully, you will know why the large groups are disbanded as soon as you touch gold. The purpose is to harvest at different levels. Many people withdraw gold easily at the beginning, but it is very difficult later. They will ask you to pay fees for various reasons. It is a disguised form of attracting money. I hope everyone will stop being cheated, stop losing in time, and play on regular platforms if you want to play, otherwise, you will lose all your money by then.
Exposure
2023-05-15
FX2042631191
Hong Kong
Very panicked, I don't know what to do with my hundreds of thousands of dollars. It is my life!
Exposure
2023-05-15
Calgary
Hong Kong
At the beginning, there was a female entrusted to add you in Kuaishou and then greeted you with care, and slowly and inadvertently revealed that they were discussing stocks on what, in fact, they made their own chat software called "Gu Zhuan Jin Lai". Then there is a person who claims to be Lao Lin who recommends stocks on a live broadcast every day. He will recommend what to buy tomorrow in that stock discussion group. Then after a week or two, Lao Lin said that the stock market is out of stock, and I rely on side jobs. You make money by speculating in gold, and then you start to lure people in the group, and there will be entrusters in the group to start coaxing you to open an account to make money together. At the beginning, they will slowly lead you to make money, and later they will let you recharge, and they will ask from time to time How many dollars do you have in your account? At this time, they will disband the stock group, and then divide them into several echelons according to the dollars in your platform, and pull you into different echelons. In fact, it is time to start cutting leeks. If you are not good at operating, there will be a person named Lao Li in the group to help you operate the account. At first glance, it sounds like a good thing, but in fact it is slowly gaining your trust so that you can make deposits. A solid fund. I hope everyone stays away, whether it is the stock market or the gold market, there are no money-spreading boys. If there are, they must be trying to deceive you [d83d][dcb0][d83d][dcb0].
Exposure
2023-05-14
xiangrong平台炒XAUUSD被骗五万美金
Hong Kong
The platform engages in long-order hedging, forcing the account to be locked and unable to close the position, and then the customer service asks you to make up the position. After you make up the position, when you withdraw the money, the feedback says that the account is at risk, and you need to recharge 5,000 US dollars to remove the risk. This pit is getting deeper and deeper, please stay away! Find a regular platform to trade
Exposure
2023-05-12
眺望未来
Hong Kong
Scam platform, the system placed a long order for me, and I couldn't close the position, and asked me to continue depositing money to close the position, SCAMS!
Exposure
2023-05-12
FX5351359552
Hong Kong
I tried several times, but cannot withdraw. What is going on. Still ask me to deposit for withdrawal
Exposure
2023-05-11
DuPonter
Peru
XIANG RONG got me feeling skeptical. The claim of being regulated by FinCEN and having a Crypto-License raises eyebrows. The lack of strong regulation is a red flag, making me wonder about the safety of my funds. Negative reviews and complaints from clients ain't reassuring either. Plus, no demo or Islamic accounts? That's a deal-breaker for me. The website lacks contact info, making it hard to reach customer support. With limited educational resources, it's like diving into the deep end without floaties. I'd think twice before jumping into this pool.
Neutral
2023-12-07
Penelope Zenobia Harrington
Belarus
XIANG RONG, this trading platform, seems to offer a variety of account types and leverages to cater to different traders. The use of the popular MetaTrader 4 platform adds credibility to their services. The range of market instruments, from forex to cryptocurrencies, provides options for various trading strategies. However, potential users should be cautious about the lack of strong regulation, the absence of demo and Islamic accounts, and the limited customer support services. Additionally, the higher minimum deposit requirement across all account types may limit accessibility for some traders.
Neutral
2023-12-06
Natsuki H., Hyogo
Colombia
Overnight financing rates are reasonable with XIANG RONG. Doesn't eat away at my profits too much. 😃😃😃
Positive
06-27
Hdfejk
Pakistan
I simply love it, so easy to use and very straightforward I've been using it for the last 3 years at least and it's very good, I would definitely recommend it.
Positive
06-21