On Shun

On Shun Information

On Shun emphasises gold investments, both actual gold and currency-based gold trading. It claims regulated by the Hong Kong Chinese Gold & Silver Exchange Society (CGSE), however its licence is a suspicious clone, signalling fraud risks.

Pros and Cons

Is On Shun Legit?

On Shun claims a Type AA Hong Kong Chinese Gold & Silver Exchange Society (CGSE) licence (licence number: 085). However, this licence is marked “Suspicious Clone,” implying fraud. The broker's name may not match the licenced organisation, “安信金控有限公司,” and may use alternative contact details or domains, indicating unregulated status.

What Can I Trade on On Shun?

On Shun provides services with an eye on actual gold and options depending on currencies. These products let customers trade two major kinds of gold and invest in it.

On Shun Fees

On Shun has cheap spreads, commissions, and swap rates compared to industry standards. London Gold and London Silver spreads are $0.5 and $0.04 per ounce, respectively. London Gold has a -2% swap rate for purchase positions and -1% for sell ones, while London Silver has -1.5% for both.

Trading Platform

Deposit and Withdrawal

On Shun requires a US$5,000 minimum amount for fee-free deposits and withdrawals. RMB deposits and withdrawals are translated to USD for trading. For Friday withdrawals, the following Monday is handled. Withdrawals can be requested 24/7 online. Overnight positions incur interest, and forced liquidation occurs if the margin ratio dips below 20% to reduce risk.