Overview of Hicend
Hicend, established in 2008 and based in China, stands as a notable financial institution in the realm of futures trading. Regulated by the China Financial Futures Exchange (CFFEX), the company adheres to regulatory standards, instilling confidence in its operations. Hicend boasts a diverse array of financial products and services, catering to both seasoned and novice traders. The offerings encompass commodities trading in black metals, non-ferrous metals, and energy and chemical sectors, with a notable presence in financial futures linked to major stock indices.
The company has established a comprehensive framework for deposit methods, delineating rules and timeframes for bank-futures transfers. Hicend places a strong emphasis on customer support, offering multiple channels of communication, including phone lines, fax services, and in-person assistance at its Shanghai office. Additionally, the company ensures a robust educational experience through its Investment Education Academy, covering a spectrum of topics, from futures and trading products to options trading. The provision of a Training Salon further fosters a community of learning and knowledge-sharing among Hicend's clientele, making it a holistic platform for individuals engaged in futures trading.
Is Hicend Legit？
Hicend appears to be regulated by the China Financial Futures Exchange (CFFEX). It holds a Futures License, indicating that it is authorized to engage in futures trading activities. The regulatory oversight is provided by the government of China, and Hicend has been assigned License No. 0155. This suggests that Hicend operates within the regulatory framework established by the relevant authorities in China.
On the other hand, if Hicend were not regulated, there might be no mention of a Futures License, and there would be no indication of regulatory oversight by a specific authority. The absence of such information could imply that Hicend operates without formal regulatory supervision, potentially posing different risks and considerations for investors or participants in the financial markets.
Pros and Cons
Hicend presents a compelling option for traders with its regulatory adherence by the China Financial Futures Exchange (CFFEX) and a diverse range of financial products, including commodities and financial futures. The company excels in providing comprehensive guidelines for deposit and withdrawal processes, ensuring a transparent and user-friendly experience. The robust customer support options, encompassing various communication channels, further enhance the overall user satisfaction. However, Hicend could improve by providing more explicit information on specific fees, detailing additional educational resources beyond the Investment Education Academy, offering more insight into the geographical aspects of its headquarters, and providing a clearer overview of trading platform features.
Products and Services
Hicend offers a diverse range of products and services across various financial markets. In the category of black metals, the company provides trading opportunities in commodities such as iron ore (I), rebar steel (RB), and coke (J). These products are essential components in the construction and manufacturing industries, and trading in these commodities allows market participants to hedge against price fluctuations or speculate on market trends.
The company also engages in the trading of non-ferrous metals, including copper (CU), nickel (NI), gold (AU), and silver (AG). These precious and industrial metals play crucial roles in various sectors, and Hicend's platform allows investors to participate in the price movements of these commodities.
In the energy and chemical sector, Hicend facilitates trading in natural rubber (RU), crude oil (SC), and asphalt (BU). These energy and chemical commodities are vital inputs in industries such as automotive, manufacturing, and construction. Trading in these markets enables participants to manage risk and capitalize on market dynamics.
Furthermore, Hicend provides financial futures services, including contracts linked to major stock indices. Examples include the Shanghai and Shenzhen 300 Index (F), the CSI 500 Index (IC), and the Shanghai 50 Index (1H). These financial instruments allow investors to gain exposure to the broader equity market or specific sectors, providing a means of diversification and risk management.
How to Open an Account？
To open an account with Hicend, follow these steps.
Visit the Hicend website. Look for the “Sign up” button on the homepage and click on it.
The registration process involves the following steps:
a. Enter the graphical captcha to ensure the authenticity of the registration.
b. Input your mobile phone number and click on the “Send Verification Code” button.
c. Enter the received SMS verification code to complete the validation.
After completing the above steps, you may be required to set up login credentials, agree to terms and conditions, and undergo any necessary identity verification for a smooth and secure account opening process.
Deposit & Withdraw Methods
Hicend provides a detailed outline of its deposit and withdrawal methods, particularly focusing on the process of transferring funds between the bank and futures accounts. The document begins by defining two important terms: “Available Funds” and “Withdrawable Funds” . Available Funds are calculated based on various factors, including current funds, intraday realized profits and losses, fees, frozen and thawed margin, and pledged amounts. Withdrawable Funds are then determined as 80% of the Available Funds, with separate calculations for accounts with pledged amounts.
The withdrawal rules are specified to manage the process effectively. Clients are allowed a daily cumulative withdrawal limit of 1 million RMB, with a maximum single withdrawal amount of 1 million RMB. The number of daily withdrawals is capped at 10 times. Additionally, clients are required to maintain a minimum account balance of 100 RMB. For withdrawals exceeding 1 million RMB, clients are advised to schedule a telephone appointment one working day in advance through the customer service hotline (400-880-8998).
The document also outlines the operational hours for deposit and withdrawal transactions. Transactions for bank-futures transfers are allowed during regular trading hours, with specific timeframes provided. There are also provisions for night trading sessions, and bank transfers have their own designated time frame.
Regarding fees, the document mentions that currently, most banks do not charge transfer fees, but any changes to this policy would be communicated separately.
Furthermore, a list of banks, their respective account details (account name, account number), and whether they support bank-futures transfers is provided. This information allows clients to choose the most suitable bank for their deposit and withdrawal transactions. The listed banks include Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China (ABC), Bank of China (BOC), China Construction Bank (CCB), and others. The document offers a comprehensive guide to help clients navigate the deposit and withdrawal process seamlessly.
Customer Support
Hicend offers a robust customer support system accessible through various channels. Users can contact the support team via phone at 021-36151000 for general inquiries or submit documents via fax at 021-65087006. For those preferring in-person assistance, Hicend's physical office is located at 19 Linping North Road, 3rd Floor, Shanghai.
The company provides a toll-free customer service hotline at 400-880-8998, where users can get assistance with account-related matters, technical support, or general queries. Additionally, a dedicated hotline (also 400-880-8998) is available for users to address complaints, showcasing Hicend's commitment to resolving issues promptly and maintaining a responsive customer support experience.
Educational Resources
Hicend offers a comprehensive array of educational resources through its “Investment Education Academy.” This academy provides valuable insights and knowledge to users, catering to both novice and experienced traders. The educational resources cover a wide range of topics and are designed to enhance the understanding of various aspects related to futures trading.
One key component of Hicend's educational platform is the “Futures Encyclopedia.” This section provides in-depth information on different futures products, helping users gain a profound understanding of the various commodities and financial instruments available for trading. The “Variety Encyclopedia” delves into the specifics of different trading products, offering insights into their characteristics, market dynamics, and relevant considerations.
For those interested in options trading, Hicend's “Options Encyclopedia” serves as a valuable resource. This section explores the intricacies of options trading, providing users with knowledge about strategies, risk management, and the unique features of options contracts.
Understanding the rules and regulations governing the market is crucial for traders. Hicend addresses this need through its “Trading Rules” section, offering insights into the regulatory framework and guidelines that govern the futures market. This knowledge is essential for traders to operate effectively and in compliance with industry standards.
To foster a community of learning and facilitate interaction among users, Hicend provides a “Training Salon.” This platform likely serves as a space for live or recorded training sessions, discussions, and sharing of insights among traders. The training salon creates an environment for continuous learning and the exchange of ideas within the Hicend community.
Conclusion
Hicend emerges as a regulated and diverse financial institution, offering a range of products and services in the futures trading landscape. The advantage of being regulated by the China Financial Futures Exchange (CFFEX) instills confidence in the platform's legitimacy. The company's diverse financial products, comprehensive deposit and withdrawal guidelines, and robust customer support options contribute to its appeal. However, the lack of detailed information on specific fees, additional educational resources beyond the Investment Education Academy, limited geographical information on the headquarters, and unclear insights into trading platform features present areas for improvement. Despite these considerations, Hicend stands as a viable option for traders seeking a regulated and varied trading experience.
FAQs
Q: Is Hicend a regulated platform？
A: Yes, Hicend is regulated by the China Financial Futures Exchange (CFFEX), ensuring compliance with regulatory standards.
Q: What financial products does Hicend offer？
A: Hicend provides a diverse range of financial products, including commodities trading in metals and energy, as well as financial futures linked to major stock indices.
Q: How can I contact Hicend's customer support？
A: Hicend offers multiple communication channels, including phone (021-36151000, 400-880-8998), fax (021-65087006), and in-person assistance at its Shanghai office (19 Linping North Road, 3rd Floor).
Q: Are there educational resources available on Hicend？
A: Yes, Hicend offers educational resources through its Investment Education Academy, covering topics such as futures, trading products, and options trading.
Q: What are the deposit methods provided by Hicend？
A: Hicend outlines comprehensive deposit methods, including bank-futures transfers, with specific rules and timeframes for users' convenience.
