Grand International Futures-Some important Details about This Broker

Overview of Grand International Futures

Founded in 2016, Grand International Futures Company Limited is a financial services organization specializing in futures trading. The company operates from its headquarters in Hong Kong and offers a wide range of financial instruments for trading. Their specialty lies in International Futures Exchange, Commodity Futures, and Financial Futures brokerage.

What sets them apart is their focus on providing clients with tailored solutions for risk management and other financial needs. The extensive range of products offered provides traders with a comprehensive portfolio of options to diversify their trading strategies. From energy and metal to agriculture and forex, the offerings cater to the needs of both beginner and experienced traders. Being based in a global financial hub like Hong Kong adds to their credibility, making them an attractive option for international traders.

Is Grand International Futures legit or a scam？

Grand International Futures is regulated by the Securities and Futures Commission (SFC), the company has met at least one of the critical benchmarks for credibility and legitimacy in the financial services sector.

Regulatory oversight by a reputable authority like the SFC adds a significant layer of protection for traders and clients. It means the company is required to adhere to strict operational standards, including financial reporting, client fund segregation, and risk management procedures. This regulatory oversight can help provide assurance against fraudulent practices and offers a measure of legal recourse for clients in case of disputes.

Pros and Cons

Pros:

1. Diverse Range of Market Instruments: The company offers a variety of futures options, ranging from energy and metal futures to agricultural and foreign exchange futures. This gives traders the flexibility to diversify their portfolios.

2. Straightforward Account Opening Process: The steps to open an account are straightforward and streamlined, requiring only basic documentation for verification.

3. Around-the-Clock Deposit Availability: Unlike some brokers that restrict deposit timings, Grand International Futures allows deposits 24/7.

4. Quick Withdrawal Process: The company promises a rapid withdrawal process, claiming that funds can appear in accounts within just 10 minutes.

Cons:

1. Limited Customer Service Hours: Customer service is only available from Monday to Friday between 9:00 a.m. and 6:00 p.m. Hong Kong time, which may be inconvenient for international traders.

2. Lack of Transparency: Key details about trading platforms, leverage, and educational resources are missing, making it hard for traders to make an informed decision.

Market Instruments

Grand International Futures offers an extensive array of trading instruments, aimed at providing the trader with a comprehensive set of options for diversifying their portfolio. The range of products can be classified into several categories:

1. Energy Futures: This category typically includes instruments related to crude oil, natural gas, and other energy commodities. Traders who are looking to hedge against energy prices or speculate on future movements would find this category suitable.

2. Metal Futures: Traders have the option of investing in various metals like Gold, Silver, and Copper. This is particularly useful for those who aim to hedge against inflation or anticipate future price movements in these metals.

3. Index Futures: These are based on stock market indices and are ideal for traders interested in speculating on the future movements of stock markets without actually buying shares.

4. Foreign Exchange Futures: These are contracts to exchange one currency for another at a specified date in the future at a price fixed on the purchase date.

5. Agricultural Product Futures: These involve products like grains, livestock, and even soft commodities like coffee and cotton.

The diversity in trading instruments is one of the company's strongest points, offering something for traders of every kind—whether they are risk-averse or risk-seeking, whether they prefer short-term or long-term positions.

Account Types

Grand International Futures offers two main types of accounts: Individual and Corporate. For individual accounts, clients are required to provide a series of documents such as photocopies of both sides of their ID card, a copy of their passport or Hong Kong and Macao pass, proof of bank account, and proof of address.

Corporate accounts come with a more extensive list of documentation requirements, including meeting minutes approving the account opening, identification proof for company directors and major shareholders, a copy of the company's business registration certificate, the articles of association, and annual financial reports if applicable. The procedure for opening a corporate account is similar to that of an individual but includes additional steps such as the company providing its corporate governance documents.

How to Open an Account？

Here's how to open an individual account with Grand International Futures in five essential steps:

1. Document Preparation: Collect all required documents including photocopies of both sides of your ID card, a valid passport or Hong Kong and Macao pass, proof of your bank account, and a recent proof of address issued within the last three months.

2. Form Completion: Fill out and sign the Grand International Futures account-opening form and customer agreement. Make sure you read and understand the risk disclosure statement included in the agreement.

3. Submission: Submit the completed forms along with the gathered documents to Grand International Futures' account opening department for approval.

4. Deposit Funds: Once you receive approval, transfer funds from your bank account to Grand International Futures' customer trading margin account, providing transfer records as necessary.

5. Start Trading: After the deposit is confirmed, Grand International Futures will activate trading permissions on your account. You're now ready to execute trades either online through their system or by placing telephone orders.

Leverage

The maximum leverage offered by Grand International Futures depends on the underlying asset and the client's account type. For example, the maximum leverage for EUR/USD is 1:500 for retail clients and 1:200 for professional clients. The maximum leverage for gold is 1:100 for retail clients and 1:50 for professional clients.

It is important to note that leverage is a double-edged sword. It can magnify your profits, but it can also magnify your losses. If you are not careful, you could lose more money than you deposited.

Before using leverage, you should carefully consider your investment objectives, risk tolerance, and financial situation. You should also understand the risks involved in leveraged trading.

Spreads & Commissions

The company provides specific information about commission fees for different types of futures contracts, but does not offer details about spreads. This makes it difficult for traders to fully evaluate the cost structure. However, the company does indicate that commissions for large-volume trades can be negotiated, which could be a significant advantage for traders who deal in high volumes. A clear understanding of both spreads and commissions is essential for calculating the potential profitability of trades, and prospective clients should inquire about these aspects during their due diligence.

Trading Platform

Grand International Futures employs the latest version of the YiSheng Polar Star 9.3 trading platform, which promises a simplified and intuitive trading interface. The platform supports multi-account login, making it easier for traders to manage multiple accounts through a single interface. The software is also designed to be lightweight, meaning it won't take up much space or resources on your device. Among its standout features is its high-end market data feed. The data comes from premium providers and offers timely and stable information, putting it at the forefront in terms of data reliability in the domestic market.

The trading platform is not just about data; it's also about execution speed and reliability. YiSheng 9.0 servers use a brand-new architecture designed to handle large trading volumes while optimizing order placement speeds.

Deposit & Withdrawal

According to the information provided, depositing funds into an account can be done through Bank Cards, Checks, or WeChat and is available 24/7. This makes it extremely convenient for traders who might want to capitalize on market opportunities outside standard business hours. On the other hand, withdrawal requests are processed between 9:30 a.m. and 4:30 p.m. While the company promises that withdrawal funds will appear in accounts within 10 minutes, which if true is exceptionally fast, the fixed exchange rate for withdrawal is set at 1:7.85. This rate could be an additional cost or benefit, depending on market conditions, and is something that traders should be aware of.

Customer Support

Grand International Futures provides a range of options for customer support, offering various channels to address queries, issues, or to seek assistance. For direct communication, clients can reach out via phone at 852-4627 5694. It's worth noting that phone support is available from Monday to Friday between 9:00 a.m. and 6:00 p.m. Hong Kong time. If phone support is not feasible or if you have documentation to send, you can also make use of the fax service at 852-2127 4774.

Additionally, for electronic communication, clients can reach out through email at cs@ydf.com.hk. While the hours of email support are not specified, it's reasonable to expect that responses will align with the business hours of their phone support.

The company is headquartered in Hong Kong, with its physical address being Room D, 9/F, Yu Hing Mansion, No 57 Bonham Strand West, Sheung Wan, Hong Kong. This could be beneficial for local clients or international clients who happen to be in the region and wish to visit the office for any in-person consultation or support.

Brokers Comparison in a Table

Educational Resources

In today's highly competitive trading environment, many brokers offer extensive educational resources, including webinars, eBooks, and tutorials, to help both novice and experienced traders. Such resources are not just a value-added service but a necessity for traders who wish to stay updated and informed. Given that the company seems to cater to a range of trading instruments, it would be beneficial for them to provide educational resources to help traders make informed decisions.

Conclusion

Grand International Futures offers a diverse range of market instruments and a straightforward account opening process, making it attractive for various types of traders. However, the absence of information on leverage, spreads, trading platforms, and educational resources means that prospective clients should exercise caution and conduct further due diligence. The limited customer service hours could also be a drawback for traders in different time zones. Overall, while Grand International Futures shows promise in several areas, potential clients should seek additional information to make a fully informed decision.

FAQs

Q: What are the margin requirements for trading Energy Futures？

A: The margin requirement for trading Energy Futures is 300 USD. Make sure you maintain sufficient funds in your account to meet these requirements.

Q: How quickly can I expect my withdrawal funds to appear in my account？

A: Withdrawal funds are processed between 9:30 a.m. to 4:30 p.m. and can appear in your account within 10 minutes, according to the company's policy.

Q: What documents are required for account verification for individual traders？

A: You will need to provide photocopies of both sides of your ID card, a copy of your passport or Hong Kong and Macao pass, proof of bank account, and proof of address.

Q: What are the customer support hours？

A: Customer support is available from Monday to Friday, 9:00 a.m. to 6:00 p.m. You can contact them via telephone, fax, or email.

Q: Can I negotiate the commission fees for large-volume trades？

A: Yes, commission fees for large-volume trades can be negotiated directly with Grand International Futures.

Q: What trading platform is used by Grand International Futures？

A: Grand International Futures employs a high-end trading platform, which is a latest version of YiSheng 9.3, known for its high-speed, reliable trade channels, and multiple order placement options.

Q: What deposit and withdrawal methods are supported？

A: You can deposit and withdraw funds using Bank Cards, Check, or WeChat. The fixed exchange rate for withdrawal is currently 1:7.85.