Trading hours of foreign exchange platform
Opening and closing time of major international foreign exchange markets (Beijing time):
Wellington foreign exchange market in New Zealand: 04: 00- 12: 00
Australian foreign exchange market: 6: 00- 14: 00
Tokyo foreign exchange market: 08: 00- 14: 30.
Singapore foreign exchange market: 09: 00- 16: 00
Foreign exchange market in London, UK: 15: 30-00: 30
Frankfurt foreign exchange market: 15: 30-00: 30.
New york foreign exchange market: 2 1: 00-04: 00.
Hong kong platform
Regular foreign exchange trading companies in Hong Kong are all registered with the Hong Kong Administration of Foreign Exchange, and have obtained the foreign exchange margin trading license of the CSRC, with a leverage of 20 times. (Website of Hong Kong Administration of Foreign Exchange) For China speculators, the formal platform in Hong Kong is safer, because there are many companies under the guise of FSA supervision. Some companies are indeed regulated by FSA, but they have set up subsidiaries in Asia in their name, and they are not regulated by FSA, but conduct business in the name of FSA supervision.
International platform
FSA, which means the Financial Services Authority of the United Kingdom, is a world-famous financial regulatory agency, which is responsible for supervising financial companies registered in the United Kingdom. So far, it has been renamed the Financial Conduct Authority, or FCA for short. If you choose the UK trading platform, you can check whether the company has a license and is qualified to do foreign exchange business on FCA's official website.
Conventional platform
Only a formal platform will let investors pay for their investment. If the platform is not formal, it will only make investors lose confidence in the formal platform, so choosing a formal platform must be supervised by regulators such as FSA, NFA, ASIC, FMA and FSP.
choice criterion
Like domestic stockbrokers, there are many foreign exchange dealers in different countries and regions. On the surface, the platforms and services of traders are similar, which makes it difficult for novices in the foreign exchange market to choose traders.
It is very important to choose a good foreign exchange trading platform, because the functions and services of different foreign exchange trading platforms may be very different in use. Some trading platforms are small and unsafe, while others are well-funded, safe and fully functional. In theory, choosing a foreign exchange trading platform means entrusting funds to this platform, and a formal foreign exchange trading platform has the obligation to ensure the safety of funds.
There are indeed black platforms and some relatively inferior platforms in the market, so you must take the time to study and compare foreign exchange trading platforms before investing to see which one is more suitable for your specific situation. Although there are many online retail foreign exchange trading platforms, the choice is actually not as troublesome as expected. As long as you pay attention to the following criteria, you can generally ensure that you choose the right platform for your own transactions.
manage
This is one of the most important criteria. To know which foreign exchange trading platform is supervised by which institution, we can know the security of this platform.
This is the first condition for whether the funds are safe and whether the platform is formal.
United States: In the United States, foreign exchange retail dealers must be registered with the CFTC of the United States Futures Trading Commission as a broker (FCM) recognized by the CFTC, and at the same time become a member of the American Futures Association (NFA). The responsibility of CFTC and NFA is to protect the interests of investors and prevent illegal transactions such as fraud and manipulation. From May 16, 2009, CFTC promulgated the regulation that the net assets of foreign exchange dealers must reach 20 million dollars, which greatly raised the threshold of foreign exchange dealers, thus reducing the problems of frequent bankruptcy and fraud of foreign exchange dealers. Investment can go to CFTC official website to inquire about the net assets of standard traders in the current month; At the same time, investors can also go to NFA official website to check the registration and punishment records of dealers.
Britain: The Financial Services Authority (FSA) was reorganized from the Securities and Investment Board (SIB) in June 1997. It is an independent non-governmental organization, and it is the unified supervision institution of the British financial market. It exercises its statutory duties and is directly responsible to the Ministry of Finance. The industry standards set by FSA show that regulated financial institutions and companies abide by these standards. In case of violation, FSA has the right to require the violating company to compensate the investors. There is a special "customer" page on FSA's website to announce all kinds of violations and frauds to remind investors.
20 10 in July, the British government issued a document on the reform proposal of the British regulatory framework. On February 7, 20 1 1, the government issued the document "A New Framework for Financial Supervision: Building a Stronger System", which provided more details for the government's proposal to dissolve the FSA and establish a more professional and focused financial service supervision system, including the establishment of an independent financial policy committee (FPC) and the PRA within the Bank of England; And the establishment of an independent business conduct supervision bureau.
Australia: In addition to supervising financial institutions and companies, the Australian Securities Investment Committee (ASIC) is also responsible for the relevant procedures for the start-up, operation and closure of companies. In March 2004, ASIC published strict standards for protecting individual investors, including: financial institutions need to obtain necessary licenses; Financial institutions must tell customers all the service contents, business methods and how to deal with customer complaints without reservation.
FSP, the full name of which is financial service provider, is called FSPR, that is, financial service provider registration bureau. New Zealand passed the Financial Service Providers (Registration and Dispute Resolution) Act 2008 on 29 September 2008. From August 10 to August 16, FSPR, the financial service enterprise regulatory agency, began to accept applications from financial enterprises, while from August 10 to February 1, almost all New Zealand financial service enterprises had to register in FSPR to provide corresponding financial services.