20 : 1
United States Dollar
28th floor , Lee Garden One , 33 Hysan Avenue, Causeway Bay, Hong Kong
Sun Hung Kai Forex (SHK Direct) is a forex brokerage firm with its head office in Hong Kong. Even though it was founded in 1969, it was not until 2000 when it launches internet operations for the first time. So far, the trading instruments in its portfolio include 40 currency pairs, stocks, shares, and futures. People looking to penetrate the Shenzhen-Hong Kong and Shanghai-Hong Kong exchanges will find this brokerage firm to be very useful.
For your information, Sun Hung Kai Forex (SHK Direct) is regulated by the Securities and Futures Commission (SFC) of Hong Kong. Thus, it is definitely a brokerage firm you can trust. It operates several branches in Hong Kong, Mainland China, and Macau.
Thanks to its distinctive features, Sun Hung Kai Forex (SHK Direct) is a preferred brokerage firm for many traders across Asia. Now a closer look at these standalone features:
1. Trading Platforms
Traders on Sun Hung Kai Forex (SHK Direct) can make use of the SKMT4, which is a tailor-made version of the most preferred Meta Trader (MT4). With this platform, traders can automate trades through the use of numerous Expert Advisors (EA). It also provides an advanced charting feature as well as indicators to make technical analysis easier.
The second trading platform is the FX Trader Pro, which is both available as a web-based version or one which you can download and install on your PC. Its major advantage is that it enables you to view live pricing from an array of investment banks. Additional tools include API trading and interactive charting.
2. Types of Accounts
Sun Hung Kai Forex (SHK Direct) provides traders with only one account type, namely the trading account. The minimum deposit on this account is fixed at $5,000 and the maximum leverage 1:20. The spreads on this account range from 1.1 pips to 1.6 pips. The good thing about the account is that you won’t be asked to pay a commission for your trades.
3. Deposits and Withdrawals
It is possible to make deposits to and withdrawals from your trading account using several payment methods including debit cards, credit cards, bank transfers, and PPS aided Electronic Funds Transfer (EFT). Of course, this forex broker does not support the use of cryptocurrencies and popular e-payment platforms.
4. Customer Support
Traders with complaints to lodge with the Sun Hung Kai Forex (SHK Direct) customer support can use any of the two telephone numbers one for Hong Kong and the other for Mainland China. It is not clear if there are additional methods of contacting customer support.
·Regulated by a reputable body
·Offers a commission-free trading account to its clients
·Offers two trading platforms including the popular MT4
·Offers competitive spread on all trades
·The initial deposit is too high for the average trader
·Comparatively low leverages
·Does not support the use of e-payment methods as well as cryptocurrencies
·Not clear if they provide other methods of contacting customer support in addition to telephone
Take a look at the features, advantages, and disadvantages of this forex brokerage and you will realize that Sun Hung Kai Forex (SHK Direct) is a good fit for traders looking a properly regulated firm and have no issue with a high initial deposit as well as low leverages.