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Haitong Review

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Haitong Review by professional Forex trading experts the “” FX trading team, Finding out everything you need to know about the broker is in this Haitong Review.

Haitong Review

Haitong Securities International is a subsidiary of the Hong Kong financial services group Haitong International Holdings Limited, which is regulated by Hong Kong’s Financial Services Commission (SFC).

Haitong Securities International offers brokerage services and trading in various financial instruments, including futures, options, securities, bond, bullion and last, but not least, forex. Haitong Securities also holds a license for Leveraged Foreign Exchange Trading from the Monetary Authority of Singapore (MAS). Among the 29 holders of such licenses in Singapore are major global forex brokerages like IG, Gain Capital, Oanda, CMC Markets, Saxo Bank, etc. There are also several local brokers like UOBBF, UOBKH, KGI, iOCBC, etc.

The only trading conditions of Haitong Securities we could find is the leverage of up to 1:20 and the minimum deposit requirement of $1300. It seems Haitong is one of the brokers in Singapore to offer MetaTrader 4.

The forex and OTC derivatives market in Singapore is considered the third largest in the world (in terms of turnover), after the US and the UK and is estimated at around $517 billion in April 2015 by the Bank for International Settlements (BIS).

The Singapore financial products market is tightly regulated by the MAS, which has relatively high capital requirements and a number of strict requirements, making the regulated brokers among the more reliable.

MAS’ main goal is to protect clients from misconduct and crooked brokers and one of the main requirements is for keeping client funds in segregated accounts. MAS also requires that all financial companies operating in the country are either licensed, exempt or otherwise regulated by it and that its staff is sufficiently competent and qualified. Forex brokers in particular are required to have a license from MAS if they want to operate legally in Singapore. The watchdog has complete authority over its charges and can award and revoke licenses. The forex brokers are continually supervised and required to provide regular audit reports to MAS.

MAS is adamantly against any broker practices that harm traders. If a broker is found to have created non-favorable trading conditions for their clients, MAS swiftly imposes a fine. The regulator also does not permit speculative trading like hedging and automated trading and this is one of the reasons why most local brokers do not provide the MetaTrader 4 (MT4) platform.

The forex brokers regulated by MAS are also required to disclose information relating to investment products being recommended to consumers.

Having in mind all of the aforementioned things and despite not having enough information about Haitong’s trading conditions, we suppose it is a reliable and honest broker. Regarding the information on trading conditions we nevertheless found (minimum deposit and leverage), it seems Haitong’s are not very favorable, when compared to other local brokers and to those of the global forex and CFD broker IG, which also holds a forex license from MAS.

Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.

Haitong Review Conclusion

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