SHANGQUAN-Overview of Minimum Deposit, Leverage, Spreads

General Information & Regulation

SHANGQUAN, a trading name of SHANGQUAN INTERNATIONAL SHARE CO., LIMITED, is allegedly a forex and CFD broker founded in 2016 and headquartered in Hong Kong, claiming to provide its clients with over 2,100 tradable financial instruments with leverage capped at 1:400 on the Webtrader and MetaTrader5 trading platforms. Here is the home page of this brokers official site:

As for regulation, it has been verified that SHANGQUAN does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and it receives a relatively low score of 1.05/10. Please be aware of the risk.

Negative Reviews

Some traders shared their terrible trading experience on the SHANGQUAN platform at WikiFX. They said they are unable to withdraw from this broker. It is necessary for traders to read reviews left by some users before choosing forex brokers, in case they are defrauded by scams.

Market Instruments

SHANGQUAN advertises that it offers more than 2,100 assets from multiple markets, including forex, shares, indices, bonds, ETFs, commodities and cryptocurrencies via CFDs.

Leverage

The leverage offered by SHANGQUAN is capped at 1:400, which is much higher than that provided by most brokers. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Trading Platform Available

Platforms available for trading at SHANGQUAN are Webtrader-SHANGQUAN INTERNATIONAL and MetaTrader5. The broker advertises that SHANGQUAN INTERNATIONAL is available on desktop (Windows, Mac) and mobile (Android, iOS), providing intuitive, web-based access to a vast range of tradable instruments, charting tools, analytical tools, and many more features.

In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

From the logos shown at the foot of the home page on SHANGQUANs official website, we found that this broker seems to accept numerous means of deposit and withdrawal choices, consisting of Visa, MasterCard, Maestro, Neteller, OZOW and Skrill.

Customer Support

SHANGQUANs customer support can be reached by telephone: +852 46380612, email: shangquanlimited@gmail.com, info@shangquanfx.com or live chat. Registered address: RM4,16/F, HO KANG COMM CTR, 2-16 FAYUEN ST, MONGKOK KL HONG KONG.

Risk Warning

Online trading involves a significant level of risk and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.