Zhongrong-Some Detailed Information about this broker

Overview of Zhongrong

Zhongrong, also known as 中融国际控股有限公司, is a financial company operating in Hong Kong for 15-20 years. It is regulated by the Securities and Futures Commission of Hong Kong, holding a private license for trading futures contracts in the region. This regulatory status indicates its compliance with the relevant authorities.

Zhongrong offers a range of trading products and services, including securities trading, futures trading in various markets, and asset management. Clients can access securities advisory services and trade in instruments like Index Futures, Currency Futures, Metal Futures, Commodity Futures, Bond Futures, and Exchange-Traded Funds. The company provides a single standard account type for clients.

While Zhongrong offers multiple trading platforms, details about these platforms are limited in the provided information. The company also maintains an educational resource center, although specific details are not specified. It's important to note that there have been negative reviews and complaints about Zhongrong, particularly related to fund withdrawals, alleged fraudulent activities, and account-related issues. Potential users should exercise caution and consider these reviews when evaluating Zhongrong as a trading option.

Pros and Cons

Zhongrong has several notable strengths and weaknesses. On the positive side, it is regulated by the Securities and Futures Commission of Hong Kong, ensuring a level of oversight and accountability. It offers a diverse range of trading services encompassing securities, futures, and asset management, and provides multiple trading platforms. Additionally, it grants access to a broad array of market instruments. On the downside, the company faces negative reviews and complaints on WikiFX, potentially raising concerns about its reputation. There is also limited information available regarding platform features, strict restrictions on deposits and withdrawals, and a lack of specific details about fees and commissions. Allegations of fraudulent activities further underscore potential risks associated with Zhongrong, while the company's educational resources are inadequately described.

Is Zhongrong Legit？

GTJAI is regulated by the Securities and Futures Commission of Hong Kong, holding a private license for trading futures contracts in Hong Kong with a regulatory license number AAW438. The licensing organization is International Futures Co., Limited (中融國際期貨有限公司). This regulatory status indicates that GTJAI operates under the oversight of the relevant authorities in Hong Kong.

Products & Services

Securities Trading: Zhongrong provides access to a variety of securities, including Hong Kong stocks and foreign stocks. Clients can trade shares of companies listed on stock exchanges, such as the Hong Kong Stock Exchange. The company also offers securities advisory services to assist clients in making informed investment decisions.

Futures Trading: Zhongrong facilitates futures trading in different markets, including HKEX futures, index futures, Singapore index futures, Malaysian bursa futures, foreign exchange futures, financial futures, rubber futures, energy futures, agricultural futures, and bond futures. For example, clients can trade Hang Seng Index futures or Dow Jones Industrial Average futures contracts.

Asset Management: Zhongrong holds an Asset Management License issued by the Hong Kong Securities and Futures Commission. This license allows them to offer various financial products and services, including securities funds, futures funds, and equity investments. Clients can access professionally managed portfolios and investment strategies through Zhongrong's asset management services.

Pros and Cons

Market Instruments

INDEX FUTURES: Zhongrong offers a selection of Index Futures contracts, including HKFE Hang Seng Index (HSI), HKFE Mini Hang Seng Index (MHI), Hang Seng China Enterprise Index (HHI), and Mini-Hang Seng China Enterprise Index (MCH).

CURRENCY FUTURES: Traders can access various Currency Futures through Zhongrong, including CME Euro Currencies Futures (EUR), CME Japanese Yen Futures (JPY), CME New Zealand Dollars Futures (NZD), and more.

METAL FUTURES: Zhongrong provides trading opportunities in Metal Futures, such as LME Copper (LCA), LME Nickel (LNI), LME Aluminum (LAH), and LME Lead (LPB). These contracts allow traders to speculate on metal prices.

COMMODITY FUTURES: Within the realm of Commodity Futures, Zhongrong offers contracts for commodities like CBOT Corn (ZC), CBOT Soybeans (ZS), CBOT Wheat (ZW), CBOT Soybean Oil (ZL), and CBOT Soybean Meal (ZM), among others.

BOND FUTURES: Traders interested in bond markets can engage in Bond Futures trading with contracts such as CBOT 2-YEAR U.S. TREASURY NOTE (ZT), CBOT 5-YEAR U.S. TREASURY NOTE (ZF), CBOT 10-YEAR U.S. TREASURY NOTE (ZN), and CBOT 30-YEAR U.S. TREASURY BOND (ZB).

EXCHANGE-TRADED FUNDS (ETFs): Zhongrong also offers trading options in Exchange-Traded Funds, allowing access to various ETFs, though specific examples are not provided in the information.

Pros and Cons

Account Types

Zhongrong offers a single type of account, which is standard for all clients. There are no multiple account tiers or levels.

How to Open an Account？

1. Visit Zhongrong's official website at https://www.zrgjgroup.com.hk/.

2. Click on “注册” (Register).

   

3. Fill in your username, nickname (if required), password, confirm password, email, contact phone, residence, and verification code.

4. Submit your registration.

5. Follow any additional verification or authentication steps as required by Zhongrong to complete the account opening process.

Fees & Commissions

Zhongrong imposes fees and commissions on trading activities. For instance, in the case of HKFE Hang Seng Index (HSI) futures, there is a commission of HKD 60 for intraday closure and HKD 100 for non-intraday closure. In addition to commissions, traders are also subject to exchange fees of HKD 10 and SFC levy fees of HKD 0.54. These fees are specific to certain contracts and vary based on trading activity, with other contracts having their own fee structures.

Deposit & Withdrawal

Clients can deposit funds into their Zhongrong accounts via check deposits, bank transfers, or telegraphic transfers, but it's essential to note that only deposits made in the client's name are accepted, with no cash or third-party deposits allowed. To notify Zhongrong of a deposit, clients should provide proof indicating the depositor's name, deposit account number, payee's name, payee's account number, amount, and currency. Bank fees associated with deposits are the client's responsibility, and the final credited amount depends on the received funds. For withdrawals, clients must inform Zhongrong's customer service department before 11:00 AM for same-day processing; otherwise, it's processed the next working day. Withdrawals are typically made in the form of checks to the client's registered bank account for local Hong Kong banks. If clients request other withdrawal methods, they bear related transaction fees, and the actual received amount depends on the final credited amount after fees for individual withdrawal instructions, such as remittance or telegraphic transfer. Zhongrong strictly adheres to settlement timelines, with Hong Kong stock settlements taking T+2 days and futures settlements taking T+1 day, and third-party withdrawals are not allowed.

Pros and Cons

Trading Platforms

Zhongrong offers a range of trading platforms to cater to different trading needs. One of these platforms is the “易盛極星模拟交易系統” (Yi Sheng Ji Xing Simulation Trading System). This platform allows users to simulate trading activities and is suitable for those looking to practice trading strategies or gain experience in a risk-free environment. Users can request account credentials from customer service, providing a mobile phone number and email address for secondary authentication during login. The platform's software size and last update date are available, but additional details are not provided.

Another platform offered by Zhongrong is the “易盛極星交易系統” (Yi Sheng Ji Xing Trading System). This platform is designed as an intelligent and comprehensive futures trading platform, combining market data and trading capabilities. It leverages Zhongrong's extensive experience in IT development for financial markets. However, specific features and functionalities are not detailed in the information provided. The software size is unspecified, and the last update was noted as of October 10, 2022.

Pros and Cons

Educational Tools

Zhongrong's educational tools appear to include a Research Center with various articles and reports. However, specific numbers or detailed information about the educational resources are not provided in the given text.

Customer Support

Zhongrong International provides customer support with contact information readily available. You can reach them at their Hong Kong address: Suites 1901-2 & 14, 19th Floor, Tower 6, The Gateway, Harbour City, Kowloon, with a telephone number, TEL: （852）3908 3033, and a fax number, FAX: （852）2723 1154. They also have an official website at www.zrgjgroup.com.hk and an email address, EMAIL: cs@zrgjgroup.com.hk, for inquiries and assistance.

Reviews

There are several negative reviews and complaints about Zhongrong on WikiFX. Traders have reported issues such as being unable to withdraw their funds, accusations of the platform being a scam, and concerns about fraudulent activities. Some users mentioned encountering problems with account freezes and unauthorized actions on their accounts. Additionally, there are allegations of misleading advice from supposed teachers or signal providers affiliated with Zhongrong, leading to significant losses. These reviews highlight various risks and issues associated with the platform, with users expressing frustration and caution regarding their experiences with Zhongrong.

Conclusion

In conclusion, Zhongrong presents a mixed picture with both advantages and disadvantages. On the positive side, it is regulated by the Securities and Futures Commission of Hong Kong, providing a level of oversight. The company offers a range of trading instruments, including securities, futures, and asset management services. They also provide various trading platforms to cater to different needs. However, there are significant concerns based on negative reviews and complaints, including difficulties in fund withdrawals, allegations of fraudulent activities, and misleading advice from affiliated individuals. These issues raise important red flags, and potential users should exercise caution and conduct thorough research before engaging with Zhongrong.

FAQs

Q: What is the full name of Zhongrong？

A: The full company name of Zhongrong is 中融国际控股有限公司.

Q: How long has Zhongrong been in operation？

A: Zhongrong has been operating for 15-20 years.

Q: What types of trading does Zhongrong offer？

A: Zhongrong offers securities trading, futures trading, and asset management services.

Q: How can I open an account with Zhongrong？

A: To open an account with Zhongrong, visit their official website, fill in the required information, and follow the registration process.

Q: Are there any negative reviews or complaints about Zhongrong？

A: Yes, there are negative reviews and complaints about Zhongrong on WikiFX, including issues related to fund withdrawals and concerns about fraudulent activities.