Score

7.00 /10
Good

CITIC Futures

Hong Kong

5-10 years

Regulated in Hong Kong

Dealing in futures contracts

Suspicious Scope of Business

C

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Comparison

Quantity 2

Exposure

Open Account
Website

Score

Regulatory Index6.54

Business Index7.88

Risk Management Index9.77

Software Index5.89

License Index6.54

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Website

Licenses

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

Single Core

1G

40G

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Pyramid scheme complaint
Expose
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Is Shitong Futures legit? The 100% profits committed by teacher comes to naught.

Operating platform: CITIC Futures Product: gold, crude oil, Der Dax, HSI, etc. Loss: 300,000 I will simply state my experience: it is very simple, since the stock has been very unsatisfactory before, I want to see if there are other investment products to do.So in this May, a share-holding friend recommended me the CITIC Futures,saying that she has making some money in it,and suggested that I have s try. At that time, she also advised me not to invest with much money (Thinking back,I should listen to her), I contacted the customer service of the platform.Under his guidance, I opened an account without performing any simulation operation,receiving the risk warning and signing a written agreement.He downloaded the trading software for me and then pulled me into a group. I didn’t want to recall that experience. I deposited 150000 RMB to operate,making losses.Person in the group asked me to add fund and earned the losses back.I gradually added 150000 RMB out of hothead.Basically, the losses were serious. Within just half a month, I lost nearly 300000 RMB. At this time, I felt something wrong.I searched the information of their platform,no results.So I questioned the legitimacy of the platform in the group and asked him to show the relevant business license and requested a refund.But the teacher shirked responsibility directly and said that my fund had flowed into foreign markets.

WEI+ERBAENBALINSAIYI6ERBA
2019-08-24 09:57
CITIC Futures · Company summary

CITIC Futures Information

CITIC Futures is a wholly-owned subsidiary of CITIC Securities Co., Ltd. The company was established on September 8, 2006. The biggest advantages of CITIC Futures include a wide range of futures and derivatives trading services, a user-friendly trading platform, and competitive margin requirements. However, they don't currently offer online chat or social media support.

CITIC Futures Information

Pros and Cons

Pros Cons
Provides a comprehensive range of futures and derivatives trading services.High minimum deposit of $100000.
User-friendly trading platformDoes not offer online chat or social media support.
Regulated by SFCOffers only personal and institutional accounts.

Is CITIC Futures Legit?

CITIC Futures is regulated by SFC with license number BFL318.

Regulated countryRegulated AuthorityRegulated EntityLicense TypeLicense Number
SFCCITIC Futures International Company LimitedDealing in futures contractsBFL318
Is CITIC Futures Legit?

What Can I Trade on CITIC Futures?

CITIC Futures provides a comprehensive range of futures and derivatives trading services, including commodities, indices, and financial products.

Tradable Instruments Supported
Forex
Indices
Shares
Energies
Commodities
ETFs
Crypto
Bonds
Futures

Account Type

The account types provided by CITIC Futures can generally be divided into two types.

Personal accounts are specially designed for individual investors to allow individual transactions.

Institutional accounts are tailor-made for larger institutions such as hedge funds, asset management companies and enterprises.

CITIC Futures provides individual customers with three ways to open an account online by mobile phone, open an on-site account and open an account by mail. Customers can choose the appropriate account opening method according to their own situation.

CITIC Futures Fees

Margin

CITIC Futures offers a variable margin requirement structure that differs every exchange. For further information on margin requirements for certain items, please see the “Margin Requirements for Trading Products” section of the official website (https://www.citicsf.com.hk/service/margin).

Trading Platform

Trading PlatformSupported Available Devices Suitable for which type of traders
MT4//
MT5//
EasyTrade platform
  1. Customizable Charts and Technical Indicators
  2. High-speed Execution
  3. User-Friendly Interface
  4. Provide multiple indicators, rapid order placement, and customizable layouts
Traders who are looking for a fast and efficient platform with a focus on technology.

Deposit and Withdrawal

The minimum deposit to start trading with CITIC Futures is $100000.

Deposit Options

Deposit Options Min. DepositFees Processing Time
Bank Transfer (online and offline)$100000.0
  • Funds deposited between 9:00 AM and 5:00 PM on business days will be processed immediately
  • Deposits made after 5:00 PM will be processed on the following business day.

TransferWithdrawal Options

Withdrawal Options Min. Withdrawal Fees Processing Time
Bank Transfer (online and offline)$0\
  • Funds withdrawn between 9:00 AM and 4:00 PM on business days will be processed immediately.
  • Withdrawals made after 4:00 PM will be processed on the following business day.

Customer Service

CITIC Futures provides customer support via a variety of channels, including phone, fax, and domestic toll-free numbers. While they do not now offer online chat or social media support, customers can use their services in both Simplified and Traditional Chinese. Furthermore, CITIC Futures provides crucial tools such as fund deposit & withdrawal guidelines, margin inquiries, software downloads, and a FAQ section to assist customers.

Contact Options Details
PhoneContact number (Hong Kong, China): 00852-22863288Fax Number: 00852-22863232Domestic toll-free hotline: 400-666-6698
EmailNone
Support Ticket SystemNone
Online ChatNone
Social MediaNone
Supported LanguageSimplified Chinese, Traditional Chinese
Website LanguageSimplified Chinese, Traditional Chinese
Physical AddressRoom 2312-2316, 23/F, CITIC Tower, 1 Tim Mei Avenue, Central, Hong Kong2312-2316,23/F, CITIC Tower, 1 Tim Mei Avenue, Central, Hong Kong
Fund Deposit & Withdrawal GuidelinesYes
Margin InquiryYes
Software DownloadYes
FAQYes

The Bottom Line

CITIC Futures offers a comprehensive range of futures and derivatives products on a user-friendly platform. However, the high minimum deposit of $100,000 makes it a less accessible option for beginners. This platform is likely best suited for experienced traders comfortable with a phone-based support system.

FAQs

Is CITIC Futures a safe broker to use?

Yes, CITIC Futures is regulated by the Securities and Futures Commission (SFC) in Hong Kong, which assures that the broker follows tight financial regulations and investor protection standards.

Is CITIC Futures good for beginners?

No, the high minimum deposit requirement of $100,000 is very unfriendly to beginners. In addition, the lack of online chat or social media support will make it difficult for beginners to get immediate help.

Is CITIC Futures good for day trading?

Yes, they provide a user-friendly trading platform with customizable charts and high-speed execution, which are very suitable for active day trading.

User Reviews

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Dollar49607
more than one year
Decent broker for beginners with lucrative bonuses. Didn't face many challenges and earned some good rewards as a novice trader.
Decent broker for beginners with lucrative bonuses. Didn't face many challenges and earned some good rewards as a novice trader.
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2024-01-16 12:33
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wefehjk
more than one year
No overseas accounts, so funds can't roam freely – stuck in a loop with third-party transactions. Lately, domestic shifts exposed some shaky ground. Be picky with platforms, folks, 'cause this one's got its quirks.
No overseas accounts, so funds can't roam freely – stuck in a loop with third-party transactions. Lately, domestic shifts exposed some shaky ground. Be picky with platforms, folks, 'cause this one's got its quirks.
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2023-12-28 12:05
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