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Score

1.41 /10
Danger

SHUN YUEN

Australia

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

Australia Appointed Representative(AR) Revoked

High potential risk

http://shunyuenltd.com

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Score

Regulatory Index0.00

Business Index6.25

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

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Warning: Low score, please stay away! 2
Previous Detection : 2025-01-11
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • AustraliaASIC (license number: 001294993) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!

WikiFX Verification

SHUN YUEN · Company summary
SHUN YUEN Review Summary
Founded2022
Registered Country/RegionAustralia
RegulationUnregulated
Market InstrumentsCFDs on Currency Pairs, Cryptocurrencies, Precious metals, Commodities
Demo AccountN/A
LeverageUp to 1:500
SpreadStarts from 0.0 pips
Trading PlatformMT4
Min DepositN/A
Customer SupportEmail: SUPPORT@SHUNYUENLTD.COM.
Address: 15F, BLOCK B,103 566 ST KILDA RD MELBOURNE VIC 3004.

SHUN YUEN Information

SHUN YUEN is an Australia-based broker offering CFDs on various assets like currency pairs, cryptocurrencies, precious metals, and commodities. However, it suffers from several drawbacks, such as a revoked ASIC license, a non-functioning website and questionable ethics.

Pros & Cons

ProsCons
A variety of financial instrumentsASIC regulatory status revoked
Low starting spreads (0.0 pips)SHUN YUENs website can't be open
Limited customer support (email and address only)

Is SHUN YUEN Legit?

SHUN YUEN is not regulated as its ASIC license has been revoked.

Regulatory StatusRevoked
Regulated byASIC
Licensed InstitutionSHUN YUEN PTY LIMITED
Licensed TypeAppointed Representative(AR)
Licensed Number001294993
Is SHUN YUEN Legit?

What Can I Trade on SHUN YUEN?

SHUN YUEN offers CFDs on currency pairs, cryptocurrencies, precious metals, commodities.

Tradable InstrumentsSupported
Forex✔
Indices❌
Shares❌
Metals✔
Commodities✔
ETFs❌
Crypto✔
Bonds❌
Futures❌

Leverage

SHUN YUEN offers a maximum leverage of 1:500. Leverage can amplify profits but also increase losses.

SHUN YUEN Fees

The broker claims to offer low spreads starting from 0.0 pips.

Trading Platforms

Trading PlatformSupportedAvailable DevicesSuitable for which type of traders
MT4✔Windows, macOS, iOS, AndroidBeginners and Intermediate Traders
MT5❌\\

Deposits & Withdrawals

Deposit Options

Deposit OptionsMin. DepositFeesProcessing Time
Bank Transfer\\\

Withdrawal Options

Withdrawal OptionsMin. WithdrawalFeesProcessing Time
Bank Transfer\\\

User Reviews

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User comment

2

Comments

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Tennerra
more than one year
I'm concerned about SHUN YUEN due to its revoked ASIC license, website issues, and limited customer support. This raises questions about the platform's reliability and transparency. I would recommend exploring other brokers for a more secure trading experience.
I'm concerned about SHUN YUEN due to its revoked ASIC license, website issues, and limited customer support. This raises questions about the platform's reliability and transparency. I would recommend exploring other brokers for a more secure trading experience.
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2023-12-12 10:29
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laterage
more than one year
I appreciate SHUN YUEN's diverse range of trading instruments, allowing me to explore different asset classes. The inclusion of popular trading platform MT4 is also a plus, providing a familiar and robust tool for executing trades. The leverage of up to 1:500 is attractive for potential profit amplification, and the low starting spread on major pairs could potentially benefit traders.
I appreciate SHUN YUEN's diverse range of trading instruments, allowing me to explore different asset classes. The inclusion of popular trading platform MT4 is also a plus, providing a familiar and robust tool for executing trades. The leverage of up to 1:500 is attractive for potential profit amplification, and the low starting spread on major pairs could potentially benefit traders.
Translate to English
2023-12-08 18:51
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