Underground gold companies generally refer to gold companies and investment companies that gamble with customers with reference to the price trend of spot gold in London. They not only act as brokers and exchanges, but also act as counterparties for customers. Underground gold companies generally have a simulated trading system, which allows potential customers to participate in simulated trading first, get familiar with trading, and eliminate risk fear and strangeness. From the perspective of trading methods, the main reasons why underground gold trading attracts investors are simple operation, low threshold and long trading time. The quotation of underground gold trading refers to the spot gold in London. The price looks open and fair, and it is linked around the world almost 24 hours a day. And there is only one contract quotation, simple and clear. Just like futures, it can be short-selling and T+0 trading, and the trading system is relatively simple to operate. The threshold for participating in underground gold trading is relatively low. Some gold companies set a minimum of one ounce, which is 00 1 hand. In theory, as long as 100 RMB can be traded. The trading time is usually 8: 00 am on Monday and lasts until the early morning of Saturday. In order to gain the trust of investors, such companies often set their headquarters in economically developed central cities, with luxurious office space and large scale, and have business licenses and other related procedures. When attracting customers, they often publicize the huge profits of "speculating in gold" to investors. Customers can earn huge profits with very little money, giving people the illusion of getting rich overnight.
In fact, because the leverage ratio is greatly increased and the price fluctuates slightly, investors will lose their money because of sudden opening of positions, and most investors who participate in underground speculation will eventually lose money. In addition, most of the funds in the customer trading accounts of underground gold speculation companies are virtual. Similar to simulated trading, the customer's funds do not really participate in the transaction, and the gold speculation company only inputs the corresponding amount of funds into the customer's trading account. After the customer's funds are transferred to his own bank account, they cannot be legally guaranteed, and they cannot be recovered after being transferred, facing huge financial risks. In this regard, the relevant person in charge of the People's Bank of China has clearly pointed out that underground speculation is not protected by law, investors participate in it, and their rights and interests are not protected by law, so the risks and social harm are great.
When investors invest in gold futures, they should choose a legal agency-futures company. A legitimate futures company shall hang the futures brokerage license, financial futures brokerage license and business license issued by the State Administration for Industry and Commerce in the trading place. The legitimate business department opened by a futures brokerage company in a different place shall also hang out the business license of the business department of the futures brokerage company issued by the China Securities Regulatory Commission and the business license issued by the local industrial and commercial bureau. When verifying the above documents, investors also need to pay attention to the validity period. Since China Securities Regulatory Commission implements the annual inspection system for futures companies and their business departments, investors should choose futures companies that have passed the annual inspection as agents to invest in gold futures.