Score
WOCOM
Hong Kong|Above 20 years| http://www.wocom.com.hk/
Website
Rating Index
Contact
Single Core
1G
40G
1M*ADSL
- This broker exceeds the business scope regulated by China Hong Kong SFC(license number: AAC230)SFC-Dealing in securities Non-Forex License. Please be aware of the risk!
Basic information
Hong Kong
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Website
wocom.com.hk
Server Location
Hong Kong
Website Domain Name
wocom.com.hk
Website
WHOIS.HKIRC.HK
Company
-
Server IP
223.255.179.120
Company Summary
| WOCOMReview Summary | |
| Founded | 1970 |
| Registered Country/Region | China (Hong Kong) |
| Regulation | SFC |
| Trading Products | Local Securities, IPO, Stock Options, Foreign Stocks, Unit Trust, Local Futures, Foreign Futures, Forex |
| Demo Account | / |
| Leverage | / |
| Spread | / |
| Trading Platform | Webtrader, mobile APP |
| Min Deposit | / |
| Customer Support | Service time: 9:00 am to 6:00 pm (Mon – Fri) |
| Tel: (852) 853-0111 | |
| Fax: (852) 2854-3822 | |
| Email: cs@wocom.com.hk | |
| WhatsApp: (852) 5616-0672 | |
| Address: Room 1002 Wing On Centre, 111 Connaught Road Central, Hong Kong | |
Wocom was founded in 1970 in Hong Kong. It offers various types of products, such as stocks, options, futures, and forex. Besides, it uses a web-based platform and a mobile APP as its trading platforms, and it provides multiple channels for customer support. Moreover, it is regulated by SFC. However, it does not reveal much information about accounts and trading details on its official website.
Pros and Cons
| Pros | Cons |
| Long operation time | No MT4 or MT5 |
| Regulated by SFC | Limited info about trading details |
| Multiple types of trading products | Commission fees charged |
| Various channels for customer support | Limited payment options |
Is WOCOM Legit?
Yes, Wocom is regulated by the Securities and Futures Commission of Hong Kong (SFC).
| Regulated Authority | Current Status | Regulated Country | License Type | License No. |
| Securities and Futures Commission of Hong Kong (SFC) | Regulated | China (Hong Kong) | Leveraged foreign exchange trading | ACL076 |
| Securities and Futures Commission of Hong Kong (SFC) | Regulated | China (Hong Kong) | Dealing in futures contracts | AAH843 |
WikiFX Field Survey
WikiFX field survey team visited Wocom's regulatory address in Hong Kong, and we found its physical office.
What Can I Trade on WOCOM?
Wocom provides various types of products, including Local Securities (Margin Financing), China Connect, IPO (Margin, International Placing), Stock Options, Foreign Stocks, Unit Trust, Local Futures, Foreign Futures, and Forex.
| Tradable Instruments | Supported |
| Local Securities | ✔ |
| IPO | ✔ |
| Stock Options | ✔ |
| Foreign Stocks | ✔ |
| Unit Trust | ✔ |
| Local/Foreign Futures | ✔ |
| Forex | ✔ |
| Commodities | ❌ |
| Indices | ❌ |
| Cryptos | ❌ |
WOCOM Fees
Wocom charges different amount of fees, depending on the types of products, as is shown on its official website.
| Trade-related | Commission |
| Transaction Compensation Levy | 0.0027% of transaction amount |
| Investor Compensatopn Levy | 0.002% of transaction amount |
| Trading Fee | 0.00565% of transaction amount |
| Stamp Duty | 0.1% of transaction amount |
| CCASS Fee | 0.002% of transaction amount (min HK$2, max HK$100 per transaction) |
| Multi-counter Transfer Instruction | HK$25 per instruction |
| AFRC Transaction Levy | 0.00015% of transaction amount (round up to the nearest cent) |
| Italian Financial Transaction Tax (IFTT) & Handling Charge | 0.2% of transaction amount + HK$500 per transaction |
| Compulsory Shares Buy-Back | HK$300 per transaction, plus fees collected by CCASS & HKEx |
You can find more detailed fee info via https://wocom.com.hk/commission-and-fee/
Trading Platform
Wocom uses 2 types of platforms, including webtrader and mobile APP.
The service hours are from Monday to Friday (excluding public holidays), extending from 8:30 a.m. to 9:30 p.m.
| Trading Platform | Supported | Available Devices | Suitable for |
| Webtrader | ✔ | Web, desktop | / |
| Mobile APP | ✔ | Mobile | / |
| MT4 | ❌ | / | Beginners |
| MT5 | ❌ | / | Experienced traders |
Deposit and Withdrawal
Wocom supports several types of deposit methods, including Faster Payment System (FPS), Payment by Phone Service (PPS), Bank Transfer and Cheque Deposit, and Telegraphic Transfer. However, other details such as the withdrawal options, the processing time, and fees, are not clear.
Keywords
- Above 20 years
- Regulated in Hong Kong
- Leveraged foreign exchange trading
- Dealing in futures contracts
- Dealing in securities
- Advising on securities
- Suspicious Scope of Business
- Suspicious Overrun
- Medium potential risk
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