Chancellor Precious Metals

General Information

Chancellor Precious Metals was formally registered and established in the Hong Kong Special Administrative Region of the People's Republic of China in 2008. In the same year, it successfully applied to become a member of the Chinese Gold and Silver Exchange Society (Member No. 064, with an “AA” operations status). In 2009, the company was accredited by the CGSE as the 3rd Electronic Loco London Gold and Silver Liquidity Provider, and in 2011, the company became the first Liquidity Provider for electronic traded Renminbi Kilo Gold bar. Chancellor Precious Metals ceased its services as Liquidity Provider for electronic traded Loco London Gold and Silver as well as Renminbi Gold Kilo Bar from September 2018.

Pros

1. Payment Methods：The trading accounts of Chancellor Precious Metals support deposits and withdrawals in both US dollars and digital currencies.

2. Educational Resources: Chancellor Precious Metals offers educational tools and resources like market analysis, to help traders enhance their knowledge and skills.

Cons

1. Limited Range of Trading Products: Chancellor Precious Metals may have a limited selection of trading products compared to other brokers, which may restrict traders' options for diversification.

2. Lack of Regulation Information: The platform's regulatory status may not be clearly stated or easily accessible, which can raise concerns regarding transparency and investor protection.

3. Deposit and Withdrawal Methods: The available deposit and withdrawal methods offered by Chancellor Precious Metals may be limited, which could inconvenience some traders.

4. Customer Support: The quality and responsiveness of customer support services provided by Chancellor Precious Metals may vary, potentially leading to delays or difficulties in resolving inquiries or issues.

5. Limited Research and Analysis Tools: Chancellor Precious Metals may have fewer advanced research and analysis tools compared to other brokers, which may limit the ability of traders to conduct in-depth market analysis.

Please note that the specific advantages and disadvantages may vary, and it is important to conduct thorough research and due diligence before engaging with any trading platform.

Here is the summary of the advantages and disadvantages of Chancellor Precious Metals in table format:

Markets Instruments

Chancellor Precious Metals' main business includes Loco London Gold, Loco London Silver, and RMB kilo gold bar. The minimum trading size of London gold is 0.1 lots, and the maximum trading volume is 30 lots. The minimum single trading size of London Silver is 0.1 lots, and the single maximum trading size is 10 lots. The minimum single trading size of the RMB kilo gold bar is one lot, and the single maximum trading size is 10 lots.

Leverage & Account

The leverage calculation formula: Product price plus contract divide trading margin equals leverage (depends on real-time gold prices).

There is no minimum deposit amount for opening a real account, and the customer can proceed with the trading by depositing sufficient funds at any time after receiving the trading account data.

How to open an account？

The account opening process for Chancellor Precious Metals typically involves the following 3-5 steps:

1. Registration: Visit the official website of Chancellor Precious Metals and fill out the required personal information, such as name, email address, and contact number, on the registration page. Once you submit the registration form, you will receive a confirmation email.

2. Identity Verification: As per the requirements of the broker, you will need to provide valid identification documents, such as a passport or ID card copy, to verify your identity and comply with regulatory standards.

3. Application Form Completion: Fill out the relevant account opening application form, including personal details, investment experience, financial status, and any other required information. Ensure that you provide accurate information and follow the instructions provided.

4. Review and Approval: After submitting the application, the broker will review and evaluate your application. They may contact you for further information or documentation if needed. Once your application is approved, you will receive confirmation of your account approval.

5. Fund Deposit: Upon receiving the account approval, you can choose a suitable deposit method to fund your trading account. According to Chancellor Precious Metals' policies, you may have options such as bank transfer, credit card payment, or other designated deposit methods.

Please note that the above account opening process is provided as a general guideline. The actual account opening process may vary based on the broker's policies and requirements. It is recommended to directly contact Chancellor Precious Metals or visit their official website for accurate and up-to-date information on the account opening process and any specific guidelines.

Spreads & Commissions

The loco London gold trading quotation spread is 0.05 US dollars, the London silver 0.04 US dollars, and the RMB kilogram gold bar trading quotation spread is 0.2 yuan. The open trade commission for loco London gold is US$50 per lot, and no fees are charged for close trade commission. The open trade commission for loco London silver is US$50 per lot, and there is no fee charged for close trade commission. The open trade commission for the RMB kilogram gold bar is RMB 100 per lot, and there is no close trade commission. Regarding the swap of Loco London Gold & Silver, Clients pay US$12/day (Swap Rate may be revised from time to time without prior notice, please refer to the trading system) for Long(Buy), and Clients pay US$2/day for Short(Sell). The overnight position will be charged with Swap Rate on a daily basis except on Fridays, whereby 3 days' Swap Rate will be charged. Clients pay RMB 16.50/day for Long (Buy), and Clients pay RMB 8.50/day for Short (Sell). The overnight position will be charged with Swap Rate on a daily basis except on Fridays, whereby 3 days' Swap Rate will be charged.

Swap Charges

For long (BUY), clients pays US$12 per day (swap rate may be revised from time to time without prior notice, please refer the trading system). For short, clients pays US$2 per day (swap rate may be revised from time to time without prior notice, please refer to the trading system). Overnight position will be charged with swap rate on daily basis except on Fridays whereby 2 days' swap rate will be charged.

Loco London Gold&Loco London Silver's swap rate

Renminbi Kilo Gold Bar's swap rate

Trading Platform

Chancellor Precious Metals provides a user-friendly and technologically advanced trading platform for its clients. The trading platform offers a range of features and functionalities designed to enhance the trading experience. Here are some key aspects of the Chancellor Precious Metals trading platform:

1. User-Friendly Interface: The platform has an intuitive interface that is easy to navigate, making it suitable for both beginner and experienced traders. Users can access various trading tools and features conveniently.

2. Real-Time Market Data: The platform provides real-time market data, including live prices, charts, and news updates. Traders can stay informed about market movements and make timely trading decisions.

3. Order Execution: Chancellor Precious Metals' trading platform offers efficient order execution with low latency. Traders can place market orders, limit orders, and stop orders to manage their positions effectively.

4. Charting and Analysis Tools: The platform includes advanced charting tools and technical analysis indicators. Traders can analyze price trends, identify patterns, and make informed trading decisions based on their analysis.

5. Risk Management Features: The platform provides risk management tools, including stop-loss orders and take-profit orders. Traders can set predefined levels to automatically exit positions, helping to manage potential losses and secure profits.

It's important to note that specific features and functionalities may vary depending on the version of the trading platform and the type of account. Traders can access the Chancellor Precious Metals trading platform through their official website or by downloading the platform onto their devices.

Deposit & Withdrawal

Chancellor Precious Metals does not accept any cash deposit. Clients must deposit their funds by transfer/remittance to this company's designated bank account (all deposit/transfer/remittance through any third party must have the consent of our company and provide relevant deposit verification). Online payment is now the most convenient payment method. Clients holding Mainland issued bank cards and/or debit cards with online payment function activated can make use of the payment gateway to transfer funds to their trading account. A handling charge, equivalent to 3% of the amount deposited, will be charged by the internet payment gateway provider towards clients' deposits made through their payment gateway and tentatively absorbed by Chancellor. Upon receiving clients' request for withdrawal, this handling charge may be waived on the condition that the client has fulfilled the requirement for trading volume achieved. The requirement for trading volume achieved is one liquidated standard contract for every US$1,000.00 deposited via the internet payment gateway. For example, if the deposit made is US$10,000.00, then the required trading volume achieved would be 10 liquidated standard contracts. If the requirement for trading volume is not achieved when the client makes a withdrawal request, Chancellor may deduct the original handling charge from the amount withdrawn before making payment to the client. For clients submitting funds withdrawal requests for a small sum (less than US$50.00), the company may impose a handling charge of US$5.

Customer Support

Chancellor Precious Metals offers customer support to its clients through various channels, including email, phone, and live chat. The customer support team is available 24/5 and can assist clients with any questions or issues they may have regarding their trading accounts, trading platforms, or other services offered by the broker.

Clients can contact the customer support team via email, and they can expect to receive a response within 24 hours.

In addition to the above channels, Chancellor Precious has an extensive FAQ section on its website that covers a wide range of topics related to trading, margin deposit/withdrawal and open account. Clients can access the FAQ section by clicking on the “Contact Us” tab on the broker's website.

Clients with any inquiries or trading-related issues can get in touch with Chancellor Precious Metals through the following contact channels:

Telephone: +852 2545 1800

Email: cs@cpm888.com

Registered Company Address: Room 601, Tins Enterprises Centre, 777 Lai Chi Kok Road, Cheung Sha Wan, Kowloon

Educational Resources

Chancellor Precious Metals understands the importance of education and offers a range of educational resources to assist traders in enhancing their knowledge and skills. The company provides the following educational and training materials:

1. Trading Guides: Chancellor Precious Metals offers comprehensive trading guides that cover various topics related to trading strategies, technical analysis, risk management, and market insights. These guides are designed to provide traders with valuable information and guidance.

2. Economic Calendar and Market Analysis: The company provides an economic calendar and regular market analysis to keep traders updated on important economic events, market trends, and potential trading opportunities. This information helps traders make informed trading decisions.

These educational resources are designed to empower traders with the knowledge and skills needed to make informed trading decisions.

FAQs

Q: Is Chancellor Precious Metals a regulated broker？

A: Yes, Chancellor Precious Metals is authorized and regulated by the Chinese Gold and Silver Exchange Society (CGSE) under regulatory license number 064.

Q: What is the minimum deposit required to open an account with Chancellor Precious Metals？

A: The minimum deposit required to open an account with Chancellor Precious Metals is $200 .

Q: What trading instruments does Chancellor Precious Metals have on offer？

A: Chancellor Precious Metals mainly provides Loco London Gold, Loco London Silver, and RMB kilo gold bar.

Q: What payment methods does Chancellor Precious Metalsaccept？

A: Chancellor Precious Metals accepts various payment methods, including bank wire transfer, credit/debit cards, and e-wallets, for deposits and withdrawals.

Q: Does Chancellor Precious Metals offer educational resources for traders？

A: Yes, Chancellor Precious Metals provides educational resources for traders, including trading guides and other educational materials to help traders enhance their knowledge and skills in the financial markets.