CITIC SECURITTIES
Pros and Cons
Pros
- Regulated by the Securities and Futures Commission (SFC) of Hong Kong
- Offers a diverse range of products including securities, IPO subscriptions, and algorithmic trading
- Established presence with over 20 years of operational experience
- Multiple trading platforms available: XeT International APP and iTrade
- Promotional activities and bonuses for customers
Cons
- No demo accounts offered
- High risk of withdrawal issues reported
- Limited payment options available
- Commission fees charged on transactions
- Outdated trading platforms (XeT International APP, iTrade)
Basic Information
User Reviews
CITIC SECURITTIES Overview
CITIC SECURITIES, established in 1995 and headquartered in Hong Kong, is a regulated financial service provider licensed by the Securities and Futures Commission (SFC) under license number AHR752. With over 20 years of operational experience, CITIC SECURITIES has built a reputation in the brokerage industry, following stringent regulations to ensure the safety and security of its clients’ investments. The broker offers a range of services, including forex trading, securities, and algorithmic trading, aiming to cater to diverse trading needs while adhering to high regulatory standards.
Is CITIC SECURITTIES Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Securities and Futures Commission (SFC) | Hong Kong | Segregated Funds, Investor Compensation Scheme |
Is CITIC SECURITTIES Regulated and How Are Client Funds Protected?
CITIC SECURITTIES is a regulated broker under the Securities and Futures Commission (SFC) of Hong Kong, holding license number AHR752. This regulation ensures that the broker adheres to strict compliance standards, which enhances its legitimacy and operational transparency. Client funds are protected through measures such as segregated accounts, which help safeguard investors’ money from operational risks and ensure that funds are available for withdrawal. Additionally, the SFC provides an investor compensation scheme that can compensate clients in the event of the broker’s insolvency. Overall, CITIC SECURITTIES is considered a safe and reliable option for investors looking to trade in the Hong Kong market.
Trading Products and Services
What trading instruments does CITIC SECURITTIES offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, AUD/USD | Many |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | Varies |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | Many |
| Stocks | Apple, Tesla, BP, Vodafone | 100+ |
| Cryptocurrencies | BTC, ETH, XRP, LTC | Varies |
CITIC SECURITTIES offers a diverse range of trading tools and financial products, catering to various trading styles and preferences. With offerings across major asset categories such as Forex, commodities, indices, stocks, and cryptocurrencies, traders can implement flexible strategies and achieve effective portfolio diversification. Whether you are a novice looking to explore the markets or a seasoned professional seeking advanced trading options, CITIC SECURITTIES provides valuable resources to meet your needs. The availability of multiple asset classes enhances opportunities for risk management and investment growth, making it a suitable choice for different types of traders.
Account Types and Trading Conditions
What Account Types and Fees Does CITIC SECURITTIES Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and retail traders | Low minimum deposit, user-friendly platform | Suitable for small-capital trading |
| Professional Account | Experienced traders and professionals | Higher leverage, lower spreads | Requires trading experience and volume qualifications |
| Corporate Account | Corporate clients | Customized services, access to institutional liquidity | Requires corporate documentation |
| Islamic Account | Traders requiring swap-free trading | Compliant with Sharia law, no interest | Available upon request for eligible clients |
| Demo Account | New traders for practice | Risk-free trading environment, educational resources | Perfect for testing strategies without financial risk |
Account Opening Process
To open an account with CITIC SECURITTIES, prospective clients must go through a systematic process. First, users need to submit personal information, including their name, contact details, and date of birth. Following this, employment and financial information is required to assess the applicant’s financial background. Identity verification is a crucial step, necessitating submission of a government-issued ID and proof of address, such as a utility bill. Once the application is submitted, clients can expect a review period before receiving approval. Additionally, there is flexibility in account management, allowing traders to upgrade to a professional account later if they meet the required criteria.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for major pairs |
| Forex (GBP/USD) | 1.0 | $0 (ECN: $3.5/lot) | Competitive pricing |
| CFDs (Stocks) | 0.1% | $0.02 per share | Varies by stock |
| CFDs (Indices) | 0.5% | $0 | Low costs for major indices |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on market volatility |
Other Fees
In addition to trading fees, CITIC SECURITTIES may charge various other fees. These can include deposit and withdrawal fees, which may apply based on the payment method used. Clients should also be aware of inactivity fees that could be incurred if an account remains dormant for an extended period. Additionally, there may be platform usage fees, especially if utilizing premium trading tools. Overnight interest, also known as swap rates, will apply to positions held overnight. Furthermore, currency conversion fees may be charged for transactions involving different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does CITIC SECURITTIES Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4/MT5 | Windows, macOS | Secure login (2FA), multiple order types, market search, technical indicators | API interface, VPS |
| Web Version | Any device with a browser | Encryption, symbol lookup, price alerts | Demo account |
| Mobile App | iOS, Android | Biometric login, push notifications, one-click trading | Access to promotions |
Each platform offered by CITIC SECURITTIES is designed to cater to different trading needs. The MT4/MT5 platforms support advanced trading strategies and tools, making them ideal for experienced traders. The web version provides flexibility for traders who prefer not to download software, while the mobile app ensures that trading can occur conveniently on-the-go. All platforms emphasize secure logins, fast order execution, and real-time alerts, enhancing the overall trading experience.
Overall, CITIC SECURITTIES supports a robust trading environment across multiple devices, ensuring traders have access to essential tools and features, alongside solid security measures.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Bank Transfer (China) | 1-3 days | No platform fee | Min 1000 CNY, Max 200,000 CNY/day | CNY |
| Alipay | Instant | 0.5% charge | Min 100 CNY, Max 50,000 CNY/day | CNY |
| WeChat Pay | Instant | No fee | Min 100 CNY, Max 30,000 CNY/day | CNY |
| International Wire Transfer | 3-5 days | 1% fee | Min 500 USD, Max 50,000 USD/day | USD, HKD |
| UnionPay | 1-2 days | No fee | Min 1000 CNY, Max 100,000 CNY/day | CNY |
Minimum Deposit
The minimum deposit requirement at CITIC SECURITIES is 1000 CNY for domestic clients and 500 USD for international clients. This minimum may vary based on the chosen payment method, with certain methods offering lower minimums, particularly for e-wallets.
How to Withdraw
To withdraw funds from your CITIC SECURITIES account, follow these steps:
- Log in to your CITIC SECURITIES account.
- Navigate to the ‘Withdrawal’ section in your account dashboard.
- Select your preferred withdrawal method from the available options.
- Enter the amount you wish to withdraw, adhering to the limits specified.
- Confirm your withdrawal request. You may need to complete verification steps, depending on your method.
- Monitor your withdrawal status in the transaction history.
Customer Support
CITIC SECURITTIES Customer Support Overview
Support Channels
CITIC SECURITTIES provides a variety of contact methods for customer support, ensuring clients can easily reach out for help. The main support channels include:
- Email: Clients can contact the support team via email at csi-callcentre@citics.com.hk.
- Live Chat: An online live chat feature is available on their website for immediate assistance.
- Telephone: For direct communication, customers can call +852 2237 6899.
- Social Media: CITIC SECURITTIES maintains a presence on platforms like Facebook and Instagram, allowing customers to reach out through these channels as well.
Service Availability
The customer support services are available 24/5, ensuring that clients can receive assistance during business hours. Multilingual support is offered, with services available in English and Chinese, catering to a diverse clientele.
Additional Resources
CITIC SECURITTIES also provides a range of educational resources to assist customers in their trading journey. These include:
- Video tutorials on trading strategies and platform usage.
- Webinars hosted by industry experts covering various topics.
- Market analysis to keep clients informed about trends.
- Trading signals to help guide investment decisions.
Frequently Asked Questions
Yes, CITIC SECURITIES is regulated by the Securities and Futures Commission (SFC) of Hong Kong, which ensures that they comply with stringent financial regulations and standards. Their license number is AHR752, confirming their legitimacy in offering brokerage services.
CITIC SECURITIES provides various trading conditions depending on the account type and product. They offer a range of financial products, including securities, IPO subscriptions, and algorithmic trading. However, specific details regarding spreads, commissions, and leverage may vary, so it’s best to refer to their official website or contact customer service for precise information.
CITIC SECURITIES ensures the security of client funds by adhering to the regulations set forth by the SFC. Client funds are typically held in segregated accounts to protect them from operational risks. Additionally, they do not accept third-party payments for deposits and withdrawals, which adds an extra layer of security.
If you experience any issues with your account or withdrawals, you should contact CITIC SECURITIES’ customer service directly at +852 2237 6899 or via email at csi-callcentre@citics.com.hk. They are available to assist you with any concerns, including withdrawal delays or account access problems.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.