There is no regulation that it is illegal, but at present, the field of foreign exchange margin business in China has not been liberalized, and only a few banks are doing it, which is not a real foreign exchange margin business. Compared with the traditional margin business, domestic banks have higher spread fees, low leverage ratio and even no leverage.

The choice of trading platform must be legal. Generally speaking, it is a common legal practice to use the online platform of foreign parent banks to conduct transactions. This trading platform is universal. Generally speaking, some foreign parent banks will apply to CBRC for e-banking business license from domestic branches, and it is feasible to put servers in China to link foreign platforms.

Foreign exchange transaction is a transaction between foreign exchange and foreign exchange, which will not affect the balance of international payments of RMB, and is different from the settlement and sale of foreign exchange and RMB. China does not have any laws and regulations to restrict foreign exchange and foreign exchange transactions, as long as it is a bank whose business scope is "foreign exchange business".

If you want to know whether the foreign exchange platform is formal, you can go to the foreign exchange eye. Wikifx (Chinese name: foreign exchange eye) is an enterprise information inquiry tool under Wiki Co. LIMITED, and its core function is to provide basic information inquiry, regulatory permission inquiry, credit evaluation, platform identification and other services for listed foreign exchange trading enterprises.