Hongsh

Overview of hongsh

Hongsh, based in China and established 2-5 years ago, offers trading in a variety of assets including futures like crude oil, rubber, and silver.

Its advantages include convenient access to Chinese futures markets, a user-friendly mobile app, and real-time market data.

However, being unregulated poses risks like potential language barriers and limited international market access.

Regulatory Status

Hongsh operates without regulatory oversight. This lack of regulation means there's no external authority monitoring its activities. Without regulation, investors may face higher risks as there's no guarantee of fair practices or investor protection.

Pros and Cons

Pros:

1. Convenient Access to Chinese Futures Markets: This accessibility facilitates trading in various commodities such as crude oil, rubber, silver, and others.

2. User-friendly Mobile Trading App: Hongsh offers a user-friendly mobile trading app, enhancing convenience and accessibility for traders who prefer to trade on-the-go.

3. Real-time Market Data Viewing: Hongsh enables real-time market data viewing, allowing traders to access up-to-date information on price movements, order book depth, trading volumes, and other relevant market indicators.

Cons:

1. Unregulated: One potential drawback of Hongsh is its lack of regulation, which may raise risks regarding investor protection and oversight.

2. Potential Language Barriers (Chinese Only): Hongsh's platform may present language barriers for non-Chinese-speaking traders, as the platform may only be available in Chinese.

3. Limited International Market Access: Another limitation of Hongsh is its focus on Chinese futures markets, which may restrict international market access for traders seeking diversified trading opportunities.

Market Instruments

Hongsh provides a wide range of trading assets across various futures commodities, allowing traders to access multiple markets using a single account. Among the offered assets are:

1. Crude Oil Futures (SC): Contracts for the future delivery of crude oil, providing exposure to fluctuations in global oil prices.

2. Rubber (RU): Futures contracts based on the price movements of rubber.

3. Silver (AG): Futures contracts linked to the price of silver, offering opportunities for investors seeking exposure to precious metals.

4. Asphalt (BU): Futures contracts representing the price of asphalt, appealing to traders looking to speculate on construction material markets.

5. Fuel Oil (FU): Contracts tracking the price of fuel oil, suitable for traders interested in energy commodities.

6. Rebar Steel (RB): Futures contracts tied to the price of rebar steel, providing exposure to the construction industry.

Hongsh also offers:

7. Iron Ore (I): Futures contracts reflecting the price of iron ore, enabling traders to participate in the iron and steel market.

8. Corn (C): Futures contracts based on the price of corn, appealing to investors interested in agricultural commodities.

9. Apple (AP): Futures contracts linked to the price of apples, providing exposure to the agricultural sector.

10. Cotton (CF): Futures contracts representing the price of cotton, offering opportunities for investors in the textile industry.

11. Rapeseed Oil (RS): Futures contracts tracking the price of rapeseed oil, suitable for traders interested in edible oils.

12. Thermal Coal (ZC): Contracts reflecting the price of thermal coal.

How to Open an Account？

Here are the steps to open an account with Hongsh:

1. Prepare Necessary Information:

• Ensure you have a valid mobile phone number that can receive SMS (used for login).

• Prepare your ID card photos: front, back, and a photo of you holding the ID card, each in clear and visible formats.

1. Register and Log In as a Member:

• Fill in the registration information as depicted in the provided image, following the numbered steps.

• Submit your information by clicking the button indicated in image 6 and proceed with the steps shown in image 7.

1. Apply for Trading Account:

• Access the “Personal Center” and select “Apply for Account Opening” followed by “Apply for Trading Account” as illustrated in image 3.

• Submit required documents by uploading their photos in the order indicated by the numbered steps in image 4.

• Await platform verification, typically processed within 10-30 minutes on working days. If submitted on non-working days, verification will commence on the next working day.

1. Link Your Bank Card:

• Upon successful platform verification, the system will generate a “Trading Number” and “Trading Number Password” for trading software login.

• Proceed to link your bank card by filling in the necessary information as shown in image 6, following the numbered steps.

• Once your bank card is successfully linked, you can deposit funds and withdraw earnings. It's recommended to use a bank card with online banking services and preferably from a major bank.

Trading Platform

Hongsh offers a proprietary futures trading mobile application designed for domestic futures trading. The app encompasses essential trading functionalities and data viewing features.

As a self-developed platform, it likely focuses on providing a user-friendly interface and efficient execution for traders accessing futures markets via mobile devices. Given the emphasis on domestic futures trading, the app accommodates the needs of traders operating within the Chinese futures market landscape.

Being a mobile application, it presumably allows traders the flexibility to monitor market movements and execute trades on-the-go, providing convenience and accessibility. Additionally, it likely integrates real-time data viewing capabilities, enabling users to stay informed about market trends and make informed trading decisions.

Customer Support

Hongsh offers customer support through China Futures Red Chamber of Commerce.

For business consultation, you can reach out to Mr. Lin via WeChat at HOPEST99 or QQ at 1157927873. Alternatively, you can contact them via phone at 134-2354-0713 or email at sales@hongsh.com.cn.

Their office is located at the 15th floor, Huagang Business Building, Tianhe District, Guangzhou, with a postal code of 510630. For more information, visit their official website at https://www.hongsh.com.cn.

Conclusion

In conclusion, Hongsh offers convenient access to Chinese futures markets through its user-friendly mobile app, providing real-time market data.

However, being unregulated poses risks such as potential language barriers and limited international market access.

While the platform's wide range of commodities enhances trading opportunities, the absence of specific details regarding account types, minimum deposits, and maximum leverage may deter some traders.

FAQs

1. Question: How can I access Hongsh's trading platform？

1. Answer: You can access Hongsh's trading platform through their user-friendly mobile app.

1. Question: What types of assets can I trade on Hongsh？

1. Answer: Hongsh offers trading in various futures, such as crude oil, rubber, and silver.

1. Question: Is Hongsh regulated by any financial authority？

1. Answer: No, Hongsh operates without regulatory oversight.

1. Question: What customer support options does Hongsh offer？

1. Answer: Hongsh provides customer support via phone, email, and their website.