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WOCOM -

Score

8.17 /10
Good

WOCOM

Hong Kong

Above 20 years

Regulated in Hong Kong

Leveraged foreign exchange trading

Suspicious Scope of Business

Suspicious Overrun

Medium potential risk

http://www.wocom.com.hk

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Comparison

Quantity 2

Exposure

Time Machine
Website

Score

Regulatory Index8.26

Business Index9.13

Risk Management Index7.63

Software Index7.43

License Index8.26

Time Machine
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

Wocom Group of Companies

Company Abbreviation

WOCOM

Platform registered country and region

Hong Kong

Company website

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

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WikiFX Risk Alerts 2
Previous Detection : 2024-12-23
  • 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!
  • This broker exceeds the business scope regulated by China Hong Kong SFC(license number: AAG705)SFC-Advising on securities Non-Forex License. Please be aware of the risk!

WikiFX Survey

WOCOM

Hong Kong China

WikiFX Verification

Exposure

2 pieces of exposure in total
Pyramid scheme complaint
Expose
WOCOM · Company summary
WOCOMReview Summary
Founded1970
Registered Country/RegionChina (Hong Kong)
RegulationSFC
Trading ProductsLocal Securities, IPO, Stock Options, Foreign Stocks, Unit Trust, Local Futures, Foreign Futures, Forex
Demo Account/
Leverage/
Spread/
Trading PlatformWebtrader, mobile APP
Min Deposit/
Customer SupportService 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.

Wocom's homepage

Pros and Cons

Pros Cons
Long operation timeNo MT4 or MT5
Regulated by SFCLimited info about trading details
Multiple types of trading productsCommission fees charged
Various channels for customer supportLimited payment options

Is WOCOM Legit?

Yes, Wocom is regulated by the Securities and Futures Commission of Hong Kong (SFC).

Regulated AuthorityCurrent StatusRegulated CountryLicense TypeLicense No.
Securities and Futures Commission of Hong Kong (SFC)RegulatedChina (Hong Kong)Leveraged foreign exchange tradingACL076
Securities and Futures Commission of Hong Kong (SFC)RegulatedChina (Hong Kong)Dealing in futures contractsAAH843
Regulated by SFC
Regulated by SFC

WikiFX Field Survey

WikiFX field survey team visited Wocom's regulatory address in Hong Kong, and we found its physical office.

WikiFX Field Survey

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❌
What Can I Trade on WOCOM?

WOCOM Fees

Wocom charges different amount of fees, depending on the types of products, as is shown on its official website.

Trade-relatedCommission
Transaction Compensation Levy0.0027% of transaction amount
Investor Compensatopn Levy0.002% of transaction amount
Trading Fee0.00565% of transaction amount
Stamp Duty0.1% of transaction amount
CCASS Fee0.002% of transaction amount (min HK$2, max HK$100 per transaction)
Multi-counter Transfer InstructionHK$25 per instruction
AFRC Transaction Levy0.00015% of transaction amount (round up to the nearest cent)
Italian Financial Transaction Tax (IFTT) & Handling Charge0.2% of transaction amount + HK$500 per transaction
Compulsory Shares Buy-BackHK$300 per transaction, plus fees collected by CCASS & HKEx

You can find more detailed fee info via https://wocom.com.hk/commission-and-fee/

WOCOM Fees

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 PlatformSupported Available Devices Suitable for
Webtrader✔Web, desktop/
Mobile APP✔Mobile/
MT4❌/Beginners
MT5❌/Experienced traders
Webtrader
Mobile APP

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.

Deposit 1
Deposit 2
Deposit 3

News

NewsRead the full review of Wocom, Before Investing

WOCOM is a global financial service company based in Hongkong. It provides traders with access to a wide range of trading products including Local Securities (Margin Financing), China Connect, IPO (Margin, International Placing), Stock Options, Foreign Stocks, Unit Trust, Local Futures, Foreign Futures, Forex.

WikiFX
2023-10-09 13:35
Read the full review of Wocom, Before Investing
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User comment

3

Comments

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helen yu
more than one year
They are one of the best brokers in the market today, always having new promotional activities. Deposits and withdrawals with them are also very convenient. The built-in trading within the browser is also a fantastic addition, easy to execute with low business spreads.
They are one of the best brokers in the market today, always having new promotional activities. Deposits and withdrawals with them are also very convenient. The built-in trading within the browser is also a fantastic addition, easy to execute with low business spreads.
Translate to English
2024-03-22 18:27
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0
悅
more than one year
I recently discovered the company WOCOM, but their website doesn't clearly provide detailed information about the company. I think this is bad because I don't want to invest without knowing more information. Also, their website looks crude and doesn't have a great user experience. I'm not sure if that means they're less professional or reliable, but I'm not willing to take the risk.
I recently discovered the company WOCOM, but their website doesn't clearly provide detailed information about the company. I think this is bad because I don't want to invest without knowing more information. Also, their website looks crude and doesn't have a great user experience. I'm not sure if that means they're less professional or reliable, but I'm not willing to take the risk.
Translate to English
2023-03-20 18:21
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0
0
2