The speed of cash inflow and outflow on trading platforms is a key concern for traders. But a user of Dingzhan Gold applied for a withdrawal of $1000 on April 27th, and two months later, the withdrawal still did not arrive; However, the account processing status column displays' Withdrawal succeeded '. During this period, Huiyou complained and consulted Dingzhan Gold's customer service multiple times, but the customer service was either not online or did not solve the problem.
There are many users of Dingzhan Gold who have encountered the same problems as Huiyou who complained online:
If Dingzhan Gold Industry fails to make profits and applies for payment, it will not be released;
My deposit at Dingzhan Jinye on April 13th has not been received yet, and customer service always finds various excuses to delay it;
The application for payment from Dingzhan Gold Industry shows that it has been approved, but the funds have been delayed and cannot be received.
The above issues of Dingzhan Gold have been repeatedly complained about by Huiyou since 2014. But after all these years, the problem remains the problem, and this platform is still running.
CGSE Association Members with Frequent Problems
People familiar with the Hong Kong platform and precious metal trading industry will definitely know the identity and issues behind Dingzhan Gold and even such precious metal companies. Next, Ai Huijun will take Dingzhan Gold Industry as an example to talk about precious metal trading companies in Hong Kong.
Dingzhan Gold Industry is the 159th member of the Hong Kong Gold and Silver Trading Ground (CGSE), providing 24-hour precious metal trading services for customers in Hong Kong and domestic and foreign markets. Although Dingzhan Gold Industry claims to be an AA level member of CGSE, it cannot conceal the fact that the Hong Kong Gold and Silver Trade Fair is only an industry association, not a regulatory agency. Moreover, Dingzhan Gold Industry has not obtained a license from the Hong Kong Financial Supervisory Authority (SFC) and is not a legitimate securities and futures trading enterprise.
In fact, among financial regulatory agencies in various countries, the NFA is also an industry association that regulates its members. But unlike the Hong Kong Gold and Silver Trade Fair, the NFA has high requirements for the membership of the association and will punish members for their violations. For example, in February 2017, FXCM was punished by the NFA for repeatedly deceiving customers and failing to effectively regulate company employees, resulting in a ban on FXCM and its members from registering with the NFA.
But the Hong Kong Gold and Silver Trade Fair is clearly not so tough on its members. For a long time, it has neither punished the platform nor warned investors in advance regarding complaints such as Dingzhan Gold's inability to issue funds. Many members of the gold and silver trading floor, such as Jin Rong China and Hong Kong Zhongtian, have been exposed to gold issues, but they are all unharmed.
It can be seen that members of the Hong Kong Gold and Silver Trade Fair do not bring any sense of security to investors. If you trade with its member institutions, it is important to understand the essence of the association's membership and the potential issues it may face in the future, such as difficulty in raising funds and huge slippage points. If you don't want to encounter such problems, please be sure to choose a financial company regulated by the Hong Kong SFC for trading.
