Haitong Review

Haitong International Securities Group Co., Ltd., or "Haitong International," is based in Hong Kong. Over the years, the Broker has aimed to become an international powerhouse connecting China with capital markets all around the globe.

Haitong International is driven by its mission: to act as a bridge between China and overseas markets. They're determined to make a name for themselves with their international competitiveness, system importance, and brand influence. Haitong parent company, Haitong Securities Co., Ltd. (stock code: 600837.SH, 6837.HK), supports their endeavors.

Established in 2007 and registered in Hong Kong, Haitong is wholly owned by Haitong Securities Co., Ltd. Haitong has an extensive financial service network. They've spread their wings across major capital markets like Hong Kong, Singapore, New York, London, Tokyo, Mumbai, and Sydney. In this Haitong broker review, we will explore every nook and cranny, giving you a comprehensive understanding of their services and expertise.

Supported Countries

Haitong has expanded its operations and established a presence in several countries across the globe. While the list may not be exhaustive, here are some countries where Haitong is supported: China, Hong Kong, Macao, Taiwan, Singapore, United Kingdom, United States, Brazil, Portugal, Spain, Mozambique, Angola, South Africa, and the United Arab Emirates.

Customer Service Rating

Unfortunately, there's not much out there regarding reviews for Haitong. For instance, there are no reviews on popular platforms like Trustpilot, which is usually a go-to for user feedback. However, on wikifx, there's a negative perception swirling around. Several reviewers have expressed dissatisfaction, particularly regarding their struggle to withdraw funds after successfully executing trades. 

Haitong Trading Platforms

Haitong offers a range of trading platforms designed to meet the diverse needs of its clients. Clients have access to advanced features of SPTrader Pro for professional traders or the MetaTrader4 (MT4) and the convenience of HT Mobile for on-the-go access. These platforms incorporate advanced technology, user-friendly interfaces, and comprehensive features to enhance the trading experience:

• SPTrader Pro: SPTrader Pro is Haitong's flagship trading platform, known for its robust functionality and advanced features. Designed for professional traders and institutional clients, this platform provides a comprehensive suite of tools and resources to execute trades swiftly and efficiently. SPTrader Pro offers real-time market data, customizable charts, technical indicators, and risk management tools, empowering traders with the necessary insights to make informed decisions. The platform also supports various order types, including market orders, limit orders, stop orders, and more. 

• MetaTrader 4 (MT4): The MT4 is an exceptional trading platform for Haitong, offering a range of features and capabilities to enhance trading operations. With its user-friendly interface and extensive technical analysis tools, MT4 allows Haitong traders to analyze market trends, identify trading opportunities, and make informed decisions. The platform supports various financial instruments, enabling diversification and exploration of various markets. MT4's automated trading feature, Expert Advisors (EAs), also allows traders to automate their strategies and optimize trading efficiency. The platform's commitment to security, with advanced encryption technologies and regular updates, ensures a safe and protected trading environment for Haitong and its clients.

• HT Mobile: The HT Mobile platform provides clients with on-the-go access to their accounts and the financial markets. HT Mobile offers a user-friendly interface and a range of features optimized for mobile devices, making it convenient for clients to monitor their portfolios and execute trades anywhere. The platform provides real-time market quotes, news updates, and customizable watch lists, informing clients about market developments. 

Type of Trading Accounts in Haitong

Traders can rely on the different account types offered by the Haitong Broker to take advantage of the market:

• Individual Trading Account: This is a popular choice for traders who want a straightforward and flexible account option. This account type provides access to various financial instruments, including stocks, bonds, commodities, and currencies. With an Individual trading account, there is no swap-free option. This account type typically offers competitive floating spreads, meaning the difference between the bid and ask price can vary depending on market conditions. The Stop Out level is set at 50%. The minimum deposit this Broker requires for this account type is $0, which provides flexibility for traders of different budgets. Additionally, you have the option to deposit funds in various currencies, including USD (US Dollar), HKD (Hong Kong Dollar), and SGD (Singapore Dollar). The Standard Trading Account suits novice and experienced traders who want a versatile account to diversify their portfolios and engage in various trading strategies.

• VIP Trading Account: The VIP Trading Account is designed for high-net-worth individuals and professional traders who require enhanced services and personalized support. This account type offers exclusive benefits and tailored features to meet the specific needs of VIP clients. With a VIP Trading Account, clients can access premium research and market insights, personalized assistance from dedicated account managers, and priority customer support. VIP account holders may also enjoy lower trading fees, preferential trading conditions, and invitations to exclusive events and educational programs. This account type is ideal for clients who value a higher level of service, specialized support, and access to premium resources to enhance their trading experience.

Trading Denominations on Haitong

Haitong allows customers to choose 3 base currencies to fund their trading accounts. These denominations include USD, SGD, and HKD.

Company Structure

Haitong offers diverse trading instruments, allowing clients to access various financial markets and assets. They provide trading opportunities in stocks, bonds, commodities, foreign exchange, and derivatives. Haitong International Securities Group Limited, or simply "Haitong International" (Stock Code: 665.HK), is backed by its parent company, Haitong Securities Co. Ltd (Stock Code: 600837.SH; 6837.HK). Haitong International has earned a "BBB" long-term credit rating from Standard and Poor's. In 2021, Haitong International achieved another significant milestone. They obtained the Securities and Derivatives Clearing Membership from the Singapore Exchange (SGX), allowing them to expand their reach and strengthen their presence in the global market.

Haitong International also shines regarding environmental, social, and governance (ESG) practices. They've been recognized for their commitment to sustainability and strong corporate governance. They've achieved an impressive "A" rating in ESG from MSCI and have even been included in the prestigious FTSE4Good Index by FTSE Russell. These accolades highlight their dedication to responsible business practices.

While Haitong Broker appears to have many strengths, addressing its lack of coordination is important: its website navigation. Unfortunately, it can be chaotic and overwhelming for users trying to find specific information. Clients have to navigate through various pages in search of what they need. Additionally, the search functionality on the website could be more user-friendly, although it does offer some assistance despite its limitations.

Haitong Licenses and Regulatory Compliance

Haitong operates under the regulatory oversight of China Hong Kong SFC, holding a license with the number AAF806.

Haitong also claims to operate under the licensing and regulation of the Monetary Authority of Singapore (MAS). However, it's worth noting that we couldn't find a specific license number displayed on the Broker's website to further verify this claim.

Haitong Customer Protection

Haitong claims to place a strong emphasis on customer protection. According to its website, the Broker is committed to providing a secure and transparent trading environment that instills trust and confidence among its client base. However, it is unclear if the Broker provides segregated account protection or negative balance protection for its clients.

Haitong conducts thorough client due diligence and Know Your Customer (KYC) procedures to verify the identity and legitimacy of clients, mitigating the risk of illicit activities within its operations.

Customer Service

Haitong prioritizes client satisfaction by providing responsive and knowledgeable support that runs 24/5. Whether clients have questions about their accounts, need assistance with trades, or require clarification on trading processes, Haitong's multi-channel customer service team is readily available to assist either via Phone ((852) 3583 3388), email, customer suggestion form, and its social media handles such as YouTube, Twitter, WeChat, and LinkedIn.

Trading Information

We uncovered some key details that can help traders understand what to expect. With Haitong, clients can enjoy the leverage of up to 1:20. Additionally, the minimum deposit requirement on Haitong is $0. It's important to note that fees can vary depending on the specific product being traded. Different financial instruments may have different fee structures, so it's always a good idea to familiarize yourself with the details before diving in.

Tradable Instruments

Haitong offers its customers various instruments to pick from and trade with. This makes diversification of portfolios possible, and profit can be maximized.

• Currency Futures

• Index Futures

• Metals

• Bonds

• Energies

• Agriculture

Haitong Leverage

Haitong offers leverage options to its clients, allowing them to amplify their trading positions. The specific leverage ratios Haitong provides may vary depending on the financial instrument and regulatory requirements. Haitong offers 1:50 on forex, 1:20 on CFDs, and 1:50 on metals.

Deposits and Withdrawals

The exact deposit method available on Haitong is as complex as the platform itself. There is no clear indication of which payment method is acceptable, and this Broker fails to make finding such information easy for the client.

Deposits

With no clarity on deposit methods, traders can expect regular deposit methods such as wire transfers, credit/debit cards, and e-wallet means. The deposit processing time at Haitong International typically takes 2 to 3 business days. 

However, please note that this timeframe is subject to the intermediary bank's processing time. 

Withdrawal 

Similar to the deposit method, clients should expect to be able to withdraw funds via the initial deposit method. The withdrawal cut-off time at Haitong International is from Monday to Friday, excluding public holidays, until noon. An outward transfer handling fee of HKD400 is charged for each outward withdrawal to an overseas account. The withdrawal amount will be calculated based on the exchange rate applicable on the day of the withdrawal.

FAQS

Is Haitong a Scam?

Haitong claims to possess regulatory licenses from the Hong Kong SCF (with license number AAF806) and Singapore MAS (without a specific license number); this raises concerns about the platform's trustworthiness. Navigating their website can be challenging and, at times, overwhelming. The Broker fails to provide adequate and relevant information upfront, which can create doubts or questions about their transparency. Furthermore, when examining the share volume of negative reviews of Haitong online, it becomes apparent that there are many dissatisfied clients.

How can I open an account with Haitong?

To open an account with Haitong, visit their official website and follow the account opening procedure. Typically, you must provide personal information, complete a registration form, and submit any necessary verification documents as required by regulatory requirements.

Conclusion 

This comprehensive review of Haitong as a broker has highlighted several crucial aspects that potential clients should consider. Haitong claims to be a reputable brokerage firm with long years in the industry, but this reputation has been called to question severally. While Haitong claims regulatory compliance, such as being licensed by the Hong Kong SFC, it is concerning that we could not find a specific license number for their MAS regulation. This lack of transparency raises questions about their adherence to regulatory standards and client protection.

Furthermore, it's important to note that Haitong falls short in providing essential customer protection features. The seeming absence of segregated accounts and negative balance protection may expose clients to unnecessary risks in volatile market conditions. One significant drawback we discovered is the complexity of navigating the Broker's website. Finding relevant and critical trading information becomes daunting, as it appears to be hidden within a maze of web pages. 

Finally, traders cannot ignore the abundance of negative online reviews from dissatisfied customers. These reviews express concerns about various aspects of Haitong's services, including poor customer support, withdrawal issues, and unclear trading conditions.

For more top brokers, make sure to check out our Pepperstone review and FXCitizen review.