The business scope does not include silver and crude oil, and there is no national approval, crude oil business qualification and approval from the Ministry of Commerce, which violates the Regulations on the Administration of Gold and Silver in People's Republic of China (PRC) (gold and silver products are exclusively owned by the state) and the Measures for the Administration of Crude Oil Market (subject to the approval from the Ministry of Commerce). 20 1 138) and "the State Council's implementation opinions on cleaning up and rectifying various exchanges" (Guo Fa [2012] No.37) put forward that trading places engaged in the trading of financial products such as insurance, credit and gold must be approved by the relevant financial management departments in the State Council, which is illegal.
2. Suspected of illegal futures activities for the purpose of causing losses to customers.
Up to now, the Ministry of Commerce has not approved any trading market to engage in crude oil and refined oil trading.
What you do is futures, not spot. The reason for this is the following：
1. The transaction with customers is not to collect or deliver the spot, but to realize the profit through the bid-ask price difference, which fully conforms to the characteristics of futures trading. So although you define "spot deferred trading", it does not change the nature of futures trading. Online spot should be based on spot and aim at physical delivery, but now your physical delivery record is almost zero.
2, the spot requires T+5, and you are all T+0, which is completely a futures feature.
3. Some victims' bank transaction records show that they have unfairly lost their principal and still owe the company tens of thousands or even hundreds of thousands, which is impossible in spot trading, only in futures trading.
There is no leverage in spot, only futures have leverage. Moreover, all our transactions are now leveraged, and the highest leverage is as high as 150%.
5. There are also standardized contracts, market making and short selling mechanisms. , are all futures characteristics.
Thirdly, all our deposits are in your Huaxia account, which has not entered the market and does not meet international standards. Instead, they completely shut down gambling. You Chinese bookmakers are gambling with us.
5. Suspected of advertising fraud and exaggerating income.
Article 68 of the Regulations on the Administration of Futures Trading.
The company makes false statements, fabricates facts (customers' profits), exaggerates profits, and then encourages customers to follow the teacher's orders to make money. After defrauding customers' trust, maliciously defrauding customers of huge sums of money has been suspected of fraud.
7. Suspected of price fraud.
The fees charged by the company in the course of trading, such as handling fees, spread fees and overnight fees, have not been approved by the competent price department of the state, which violates the provisions of Article 35 of the State Regulations on Futures Management and is suspected of price fraud.
8. Suspected of using illegal means to seek profit fraud.
The operating trading software and market analysis software used by the company failed to implement the national software standards, did not issue licenses, did not obtain sales licenses, and did not pass the examination of the China Securities Regulatory Commission, which violated the provisions of Article 79 of the National Regulations on Futures Management. The client software only deals in digital gambling games and is suspected of illegal fraud. At the same time, they use an illegal leverage ratio of 30 times (the state stipulates that futures products should not exceed 12.5 times). In the contract and risk notification, the salesman and the calling teacher did not inform the customer of the leverage ratio, deliberately concealing it, and at the same time encouraging users to buy from Man Cang in heavy positions, increasing the risk of warehouse explosion.