Basic Information & Regulators
Chancellor Precious Metals was formally registered and established in the Hong Kong Special Administrative Region of the People's Republic of China in 2008. In the same year, it successfully applied to become a member of the Chinese Gold and Silver Exchange Society (Member No. 064, with an “AA” operations status). In 2009, the company was accredited by the CGSE as the 3rd Electronic Loco London Gold and Silver Liquidity Provider, and in 2011, the company became the first Liquidity Provider for electronic traded Renminbi Kilo Gold bar. Chancellor Precious Metals ceased its services as Liquidity Provider for electronic traded Loco London Gold and Silver as well as Renminbi Gold Kilo Bar from September 2018.
Markets Instruments
The companys main business includes Loco London Gold, Loco London Silver, and RMB kilo gold bar. The minimum trading size of London gold is 0.1 lots, and the maximum trading volume is 30 lots. The minimum single trading size of London Silver is 0.1 lots, and the single maximum trading size is 10 lots. The minimum single trading size of the RMB kilo gold bar is one lot, and the single maximum trading size is 10 lots.
Leverage & Account
The leverage calculation formula: Product price plus contract divide trading margin equals leverage (depends on real-time gold prices).
There is no minimum deposit amount for opening a real account, and the customer can proceed with the trading by depositing sufficient funds at any time after receiving the trading account data.
Spreads & Commission Fees
The loco London gold trading quotation spread is 0.05 US dollars, the London silver 0.04 US dollars, and the RMB kilogram gold bar trading quotation spread is 0.2 yuan. The open trade commission for loco London gold is US$50 per lot, and no fees are charged for close trade commission. The open trade commission for loco London silver is US$50 per lot, and there is no fee charged for close trade commission. The open trade commission for the RMB kilogram gold bar is RMB 100 per lot, and there is no close trade commission. Regarding the swap of Loco London Gold & Silver, Clients pay US$12/day (Swap Rate may be revised from time to time without prior notice, please refer to the trading system) for Long(Buy), and Clients pay US$2/day for Short(Sell). The overnight position will be charged with Swap Rate on a daily basis except on Fridays, whereby 3 days' Swap Rate will be charged. Clients pay RMB 16.50/day for Long (Buy), and Clients pay RMB 8.50/day for Short (Sell). The overnight position will be charged with Swap Rate on a daily basis except on Fridays, whereby 3 days' Swap Rate will be charged.
Trading Platform Applied
The Meta Trader 4TM trading platform is an excellent online trading software that integrates charting, technical analysis, and order placement on one user-friendly platform providing all-around market watch and trend movement observation features. It is the most commonly used online trading software for precious metals trading, available for Windows, PC, and laptop)
Deposit & Withdrawal
This company does not accept any cash deposit. Clients must deposit their funds by transfer/remittance to this company's designated bank account (all deposit/transfer/remittance through any third party must have the consent of our company and provide relevant deposit verification). Online payment is now the most convenient payment method. Clients holding Mainland issued bank cards and/or debit cards with online payment function activated can make use of the payment gateway to transfer funds to their trading account. A handling charge, equivalent to 3% of the amount deposited, will be charged by the internet payment gateway provider towards clients' deposits made through their payment gateway and tentatively absorbed by Chancellor. Upon receiving clients' request for withdrawal, this handling charge may be waived on the condition that the client has fulfilled the requirement for trading volume achieved. The requirement for trading volume achieved is one liquidated standard contract for every US$1,000.00 deposited via the internet payment gateway. For example, if the deposit made is US$10,000.00, then the required trading volume achieved would be 10 liquidated standard contracts. If the requirement for trading volume is not achieved when the client makes a withdrawal request, Chancellor may deduct the original handling charge from the amount withdrawn before making payment to the client. For clients submitting funds withdrawal requests for a small sum (less than US$50.00), the company may impose a handling charge of US$5.0
