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Score
Hong Kong
Above 20 yearsRegulated in Hong Kong
Dealing in futures contracts
Suspicious Scope of Business
High potential risk
Add brokers
Comparison
Quantity 9
Exposure
Score
Regulatory Index6.54
Business Index9.19
Risk Management Index0.00
Software Index5.89
License Index6.54
Single Core
1G
40G
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Company Name
CITIC Securities Wealth Management (HK)
Company Abbreviation
CITIC SECURITTIES
Platform registered country and region
Hong Kong
Company website
Company summary
Pyramid scheme complaint
Expose
They said the system was under maintenance.
I met a man on IG who runs a decoration company in Hong Kong. He claims to be Taiwanese but has stayed in Hong Kong since he was a child. He first added my friend on IG, making me think that I was a friend of a friend, so I agreed to his invitation to be friends! After chatting online for a while, he started to mention the topic of investment! First it was stocks and then it was foreign exchange. He said that he had insider information in the bank and his professional judgment, and he could make 95% profit. At first, I was dubious and only made a small deposit and followed the order. After a few operations, I made a small withdrawal of 500u. The next day he asked me to ask customer service if there was any new activity, and it turned out that there was indeed an activity for new customers. He asked me to make an appointment with a gold member (if you deposit 50,000u, you will receive a gift of 5,888u). At first, I refused and said that I didn’t have that much spare money to spare. But he said he would help me and immediately put 10,000u in. I thought he had already put it in, so it should be fine! Later, he suggested that I borrow a loan to store value... and told me that he also had a loan, and he could withdraw it and pay it back after the activity was completed. After that, he helped me save another 10,000u. After the event was completed, there was indeed a gift. The man immediately asked me to withdraw 2000u, and I could actually withdraw it! But a few days later, I wanted to withdraw it myself but was blocked for a whole day. When I asked customer service, they said they wanted me to wait because there were so many people withdrawing! Now that I think about it, they should be operating behind the scenes...
The BYFX platform under CITIC Securities uses various reasons to ask customers to pay fees, and the reason is that the funds are frozen in the bank and the unfrozen funds are handed over. Just do not withdraw money to customers. This is a scam.
Hope to help me to solve the problem that fund does not arrive. It is a lesson. Do not trust others easily.
Unable to withdraw. Ask for money with various reasons
I met a businessman on the Internet who said he lived in Hong Kong. He expressed his affection for me at first and started teaching me how to make money and invest with him. He asked me to download the OKX, MAX app and then gave me a URL https:// cn.swtetup.com/h5/#/ After asking me to register an account, it said it was a foreign exchange account. At first, he asked me to swipe my card to recharge money to operate the foreign exchange difference, and I successfully withdraw cash into the account. Later, he thought that my principal was not large enough and the profit was too small, so he remitted NT$1 million and put it into my foreign exchange account and told me to make more money. Later, he asked me to collect the 1 million recharge gift from the customer service (after remitting the money, he asked me to ask the customer service for all the recharge gift at once). The next day, I felt something was wrong and I wanted to withdraw the money from my account and return it to him. At that time, I found that I couldn't withdraw the cash and I couldn't pay him back. The customer service explained that I had to complete the recharge bonus activity before I could cash it out successfully, which meant that I had to put in more funds to complete the activity before I could withdraw the cash. Later, inexplicably, my account was said to be frozen. The Hong Kong man also said that he would help me solve the problem together and put money into this foreign exchange account. Indeed, he also gave me his transfer information, and the money he transferred was also displayed in the foreign exchange account. I also transferred money into it just to complete the recharge activity successfully. withdraw! However, after completing the activity, withdrawals were still not allowed due to various reasons...
On IG, I met someone who claimed to be Taiwanese but stayed in Hong Kong. The person cultivated a relationship with you first, and then told you about investment channels. The person asked you to download some apps and let you start with small amounts of money. After a large amount of money is deposited, they refuse to allow withdrawals, claiming that the new user tasks have not been completed. If the tasks are not completed within the deadline, they will require payment of risk control fees and report credit defaults.
For the first time I was asked to pay the deposit, and then again, i was asked to pay the money for Green Channel. Not sure whether they were cheating on me.
Aspect | Information |
Company Name | CITIC Securities |
Registered Country/Area | China |
Founded Year | 1995 |
Regulation | Regulated by the SFC |
Minimum Deposit | $0 |
Maximum Leverage | Up to 1:20 |
Spreads | Start from 0.02% |
Trading Platforms | Desktop, mobile, web trading platfom |
Tradable Assets | Stocks, indices, commodities |
Account Types | Standard, VIP, Institutional accounts |
Customer Support | Email csi-callcentre@citics.com.hk.Phone 852 2237 6899 |
Deposit & Withdrawal | Bank transfer and debit cards |
Educational Resources | Online courses, webinars, tutorials, articles |
CITIC Securities, established in 1995, stands as the largest Chinese investment holding company renowned for its comprehensive range of financial services. Regulated by the SFC, CITIC Securities is a trusted name in the financial industry. As a member of the SIPF (China Securities Investor Protection Fund), the broker prioritizes the safeguarding of its clients' investments.
CITIC Securities offers a flexible trading environment, allowing account currency options in USD, CNY, and HKD. What sets them apart is their approach to minimum deposits, which starts from zero units of the base currency of the account, promoting accessibility to a wide range of investors. Leveraging up to 1:20 empowers traders to amplify their positions.
One notable advantage of CITIC Securities is their competitive edge in spreads, offering an advantageous no-spread feature.
https://www.youtube.com/watch?v=zjvILtuDvfs
CITIC Securities operates under the regulatory oversight of the Securities and Futures Commission of Hong Kong (SFC), ensuring a secure and compliant trading environment. As of the current status, CITIC Securities is fully regulated by the SFC, holding a license for dealing in futures contracts. The license, designated as AHR752, was granted to CITIC Securities Futures (HK) Limited, which operates as a subsidiary of CITIC Securities.
CITIC Securities offers several advantages that make it an attractive choice for traders. Firstly, there are no minimum deposit requirements, providing clients with flexibility in funding their accounts. The company strictly adheres to legal regulations, ensuring that only government-approved products and services are available to its customers, which enhances the overall security and reliability of the platform. Additionally, CITIC Securities provides versatile trading terminals accessible from both mobile and desktop devices, offering convenience and flexibility to traders. Investors also benefit from a wide range of investment options, including trust transfers, passive income on pension accounts, and the ability to activate algorithmic trading.
However, there are certain limitations to consider when trading with CITIC Securities. The broker primarily serves clients from China and Hong Kong, restricting its services to a specific geographical region. Additionally, CITIC Securities has a limited selection of assets, focusing primarily on local Chinese market securities.
Pros of CITIC Securities | Cons of CITIC Securities |
No minimum deposit requirements | Serving only clients from China and Hong Kong. |
Strict adherence to legal regulations | Limited selection of assets |
Versatile trading terminals accessible | Customer support can be slow at times |
Diverse investment options | |
Professional market research tools | |
- Efficient and rapid digital account opening process within one business day. |
Citic Securities offers a well-rounded selection of financial instruments, with a primary focus on:
Stocks: Users can trade a wide range of stocks, allowing them to participate in the performance of various companies and industries.
Indices: The platform provides access to global indices, enabling traders to engage with the broader stock market movements and economic trends.
Commodities: Citic Securities offers commodities such as precious metals (e.g., gold and silver) and energy commodities (e.g., oil). These commodities serve as options for diversification and hedging against economic uncertainties.
CITIC Securities offers a variety of account types tailored to meet the diverse needs of traders. The Standard account provides a leverage of 5:1, with a spread of 0.10% and a commission of $10 per trade. Notably, there is no minimum deposit requirement for this account type, making it accessible to all traders. It also includes a demo account for practice and supports multiple trading tools and round-the-clock customer support.
For more advanced traders, the VIP account offers increased leverage at 10:1, a reduced spread of 0.05%, and a lower commission of $5 per trade. A minimum deposit of ¥50,000 is required for this account, which also includes a demo account, versatile trading tools, and 24/7 customer support.
The Institutional account, with a leverage of 20:1, features the most favorable trading conditions, including a minimal spread of 0.02% and a commission of just $2 per trade. A higher minimum deposit of ¥100,000 is necessary to access this account type, which, like the others, provides a demo account, various trading tools, and round-the-clock customer support.
Account Type | Standard | VIP | Institutional |
Leverage | 5:1 | 10:1 | 20:1 |
Spread | 0.10% | 0.05% | 0.02% |
Commission | $10 per trade | $5 per trade | $2 per trade |
Deposit | ¥0 | ¥50,000 | ¥100,000 |
Demo Account | Yes | Yes | Yes |
Trading Tool | Web platform, mobile app, desktop platform | Web platform, mobile app, desktop platform | Web platform, mobile app, desktop platform |
Customer Support | 24/7 | 24/7 | 24/7 |
Opening an account with Citic Securities is a straightforward process that can be broken down into six easy-to-follow steps:
Visit the Citic Securities Website: Begin by accessing the official Citic Securities website through your web browser.
Click on “Sign Up” or “Open an Account”: Locate the “Sign Up” or “Open an Account” button on the website's homepage and click on it to initiate the registration process.
Fill in Your Personal Information: Accurately provide your personal details, including your full name, email address, phone number, and country of residence.
Create a Username and Password: Choose a unique username and a strong password for your trading account, ensuring it meets the security requirements provided.
Verify Your Identity: Follow the instructions to verify your identity, which may involve submitting identification documents such as a passport or driver's license.
Fund Your Account: Once your identity is successfully verified, fund your trading account by selecting your preferred payment method and depositing the required amount.
After completing these six steps, your Citic Securities trading account will be ready for you to start trading.
CITIC Securities provides varying levels of leverage depending on the account type chosen by traders. Here is an overview of the leverage options:
Standard Account: Traders with a Standard account can access a leverage of up to 5:1. This level of leverage allows for a balanced approach to trading and is suitable for those who prefer lower risk.
VIP Account: VIP account holders have the advantage of higher leverage, with a maximum of 10:1.
Institutional Account: For those seeking even greater leverage, CITIC Securities offers an Institutional account with leverage of up to 20:1. This level of leverage is typically chosen by experienced and institutional traders who are well-versed in managing higher levels of risk.
Account Type | Standard | VIP | Institutional |
Leverage | 5:1 | 10:1 | 20:1 |
CITIC Securities offers competitive spreads across its various account types to cater to the diverse needs of traders. Here is an overview of the spreads available:
Standard Account: Traders with a Standard account can benefit from spreads as low as 0.10%. This account type provides a reasonable spread, making it suitable for those who prioritize cost-effective trading.
VIP Account: VIP account holders enjoy even tighter spreads, starting at 0.05%. The reduced spread enhances the trading conditions for VIP traders, potentially leading to lower trading costs and improved profitability.
Institutional Account: For institutional traders and those looking for the narrowest spreads, CITIC Securities offers an Institutional account with spreads starting at an impressive 0.02%.
Account Type | Standard | VIP | Institutional |
Spread | 0.10% | 0.05% | 0.02% |
CITIC Securities offers a comprehensive suite of trading platforms to cater to various preferences and skill levels.
The desktop trading platform, while feature-rich and highly customizable, may be better suited for experienced traders due to its complexity. It provides a clear fee report, excellent chart customizability, and a robust search function. Hoever, it offers limited order types, lacks two-step login security, and has a relatively complex interface.
The mobile trading platform, available for both iOS and Android, offers user-friendliness and convenience. It includes useful features like price alerts and a chatbot. However, it also has limited order types and lacks two-step login functionality.
The web trading platform is user-friendly and straightforward, with a strong search function. It provides a clear fee report but is limited in terms of customizability for charts and workspace. Like the mobile platform, it lacks two-step login security and offers a limited range of order types.
In summary, CITIC Securities offers a variety of trading platforms, each with its own set of advantages and drawbacks. Traders can choose the platform that best aligns with their experience level and trading needs.
CITIC Securities only provide bank transfer for depositing and withdrawing funds. You can fund your account using bank transfers or debit cards. Please note that credit cards and electronic wallets are not accepted for deposits.
CITIC Securities payment method
Deposit | Withdrawal | |
Bank transfer | Yes | Yes |
Credit/debit card | No | No |
Electronic wallets | No | No |
One advantage of trading with CITIC Securities is its no withdrawal fee policy. When you decide to withdraw your funds, you can use bank transfers or debit cards. This fee-free approach enhances the overall trading experience, although credit cards and electronic wallets are not available for withdrawals.
Bank transfers may take several business days. It's essential to deposit funds from an account in your name.
CITIC Securities offers comprehensive customer support to assist clients with their inquiries and concerns. You can reach their dedicated support team through various channels:
Email: For general inquiries, you can contact them via email at csi-callcentre@citics.com.hk.
Telephone: You can reach them through phone:
Switchboard: 852 2237 6899 (Monday-Friday: 9am to 6pm)
Hong Kong Hotline: 852 2237 9338
China Toll Free Line: 400 818 0338
Night Shift Dealing Support Hotline: 852 2237 9466
Fax: You can also contact them via fax:
Switchboard: 852 2104 6862
Account Executive: 852 2845 0151
Complaints: If you have any complaints about their services, they have a dedicated channel for that as well. You can reach them via email at csiwmcomplaint@citics.com.hk.
Citic Securities recognizes the importance of education for investors and, as such, provides a comprehensive suite of educational resources. Investors looking to expand their knowledge of trading and investing can benefit from these offerings, which include:
Online Courses: Citic Securities offers online courses designed to cater to investors of all levels, from beginners to experienced traders. These courses cover a wide range of topics, including fundamental analysis, technical analysis, risk management, and more. They provide a structured learning path for those looking to build a strong foundation in trading and investing.
Webinars: The platform conducts regular webinars that are accessible to its user base. These live webinars feature expert speakers who delve into various aspects of the financial markets. Participants have the opportunity to interact with presenters, ask questions, and gain valuable insights into market trends, trading strategies, and investment opportunities.
Tutorials: For those who prefer self-paced learning, Citic Securities offers tutorials on various subjects related to trading and investing. These tutorials are easy to follow and provide step-by-step guidance on different aspects of the financial markets. Whether it's understanding how to use trading tools or analyzing market data, these tutorials serve as practical guides.
Articles: Citic Securities maintains an extensive library of articles covering a wide range of financial topics. These articles are a valuable resource for investors seeking in-depth knowledge and analysis. From market trends and economic indicators to trading strategies and investment principles, these articles provide valuable insights to aid decision-making.
Citic Securities understands that a well-informed investor is more likely to make sound financial decisions. Therefore, they have made it a priority to offer a diverse range of educational resources to empower their clients with the knowledge and skills needed to navigate the complex world of trading and investing successfully.
In conclusion, CITIC Securities presents a range of advantages that can appeal to traders seeking flexibility, security, and convenience. The absence of minimum deposit requirements allows clients to tailor their account funding to their preferences. The broker's strict adherence to regulatory standards ensures a safe and reliable trading environment, and the availability of versatile trading terminals across devices enhances accessibility.
Furthermore, CITIC Securities caters to diverse investment preferences, offering options such as trust transfers, passive income on pension accounts, and algorithmic trading. However, it's essential to acknowledge certain limitations, including its focus on serving clients exclusively from China and Hong Kong, which may restrict its services to a specific geographic area.
1. Q: Is Citic Securities a regulated platform?
A: Yes, Citic Securities operates under recognized regulatory standards and is considered a legitimate trading and investment platform.
2. Q: What account types are available on Citic Securities.
A: Citic Securities offers Standard, VIP and Institutional accounts.
3. Q: How can I contact Citic Securities' customer support?
A: Citic Securities provides multiple contact options, including phone support and email, ensuring users can reach out for assistance.
4. Q: Are there educational resources available for beginners?
A: Yes, Citic Securities offers a range of educational resources suitable for traders of all experience levels, including beginners.
5. Q: What is the minimum deposit requirement for Citic Securities accounts?
A: The minimum deposit requirement varies based on the chosen account type, the Standard account has no deposit requirment.
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