VMEX

Overview

VMEX Commodity Trading Joint Stock Company, based in Vietnam, operates without regulatory oversight, offering a wide range of trading products with transparent fee structures and efficient deposit/withdrawal processes. The company provides access to leading commodity trading software like CQG, supported by platforms such as CQG Desktop and CQG Trader. Additionally, VMEX ensures dedicated customer support services, located in Ho Chi Minh City, reachable via email at dvkh@vmex.vn or by phone at 0911.919.356 and 028 9999 7899.

Regulation

VMEX operates outside regulatory oversight as a broker, potentially posing risks to investors due to the lack of regulatory scrutiny. Without regulatory supervision, investors may face challenges in ensuring fair practices, transparency, and protection of their investments. Engaging with unregulated brokers like VMEX requires caution and thorough due diligence to mitigate potential financial risks.

Pros and Cons

VMEX, while offering a wide range of trading products across various categories, operates outside regulatory oversight, potentially posing risks to investors due to the lack of regulatory scrutiny. Engaging with unregulated brokers like VMEX requires caution and thorough due diligence to mitigate potential financial risks.

In summary, VMEX offers a diverse array of trading products and efficient fund management processes, but its lack of regulatory oversight poses risks to investors, requiring careful consideration and due diligence.

Market Instruments

VMEX provides a comprehensive selection of trading products across various categories:

1. Agricultural Commodities:

1. CBOT Raw Rice (ZRE)

2. Kansas Wheat (OF)

3. Mini Wheat (XW)

4. Wheat (TAKE)

5. Soybean Meal (ZME)

6. Soybean Oil (WRONG)

7. Mini Soybeans (XB)

8. Soybean (WSE)

9. Mini Corn (XC)

10. Corn (ZCE)

2. Industrial Materials:

1. Cotton (CTE)

2. Crude Palm Oil (BECAUSE)

3. TSR20 Rubber (ZFT)

4. Cao Su RSS3 (TRU)

5. Road 11 (SBE)

6. White Sugar (QW)

7. Cacao (CCE)

8. Arabica Coffee (KCE)

9. Robusta Coffee (LRC)

3. Metals:

1. Iron Ore (FEF)

2. Copper Microphone (MHG)

3. Mini Copper (MQC)

4. Copper (CPE)

5. Silver Microphone (WILL)

6. Mini Silver (MQI)

7. Silver (SHE)

8. Platinum (PLE)

4. Energy:

1. Low Sulfur Oil (QP)

2. RBOB Gasoline (RBE)

3. Brent Mini Oil (BM)

4. Brent Oil (QO)

5. Mini Natural Gas (NQG)

6. Nature Air (WITH)

7. WTI Micro Oil (MCLE)

8. WTI Mini Oil (NQM)

9. WTI Oil (CLE)

5. LME Metals:

1. LME Hot Rolled Steel Coil (LHC)

2. LME Scrap Steel (SSC)

3. LME Rebar Steel (SSR)

4. Niken LME (LNIZ/NID)

5. LME Zinc (LZHZ/ZDS)

6. Tin LME (LTIZ/SND)

7. What LME (LEDZ/PBD)

8. LME Aluminum (LALZ/AHD)

9. LME Coin (LDKZ/CAD)

6. Other:

1. Aluminum (OR)

Each product is accompanied by specific trading codes, transaction bases, contract sizes, contract units, price steps, and maturity months, providing traders with a diverse array of options to engage with across various markets.

Trading Margin

At the Vietnam Commodity Exchange (VMEX), margin requirements for trading standard commodity futures contracts are structured as follows:

1. Margin Levels:

• Minimum deposit level: 100% of the initial deposit level announced for each commodity.

• Minimum deposit level: 120% of the initial deposit level announced for each commodity.

1. For institutional investors:

2. For individual investors:

2. Initial Margin Levels (USD and VND):

1. Provided in both USD and Vietnamese Dong (VND) to accommodate investors' preferences and local currency considerations.

2. Initial margin levels are specified for each commodity traded at VMEX.

3. Exchange Rate:

1. Ensures consistency and transparency in margin calculations across different currencies.

2. The exchange rate applicable for calculating margin levels is announced by VMEX.

4. Adjustments:

1. Ensures alignment with market conditions and risk management practices.

2. The minimum deposit level for each commodity may be adjusted over time according to changes in the exchange rate announced by VMEX.

5. Objective:

1. The margin system aims to maintain adequate margin coverage and effectively manage risk for both individual and institutional investors participating in commodity futures trading at VMEX.

Fees

At the Vietnam Commodity Exchange (VMEX), trading goods incurs transaction fees, which are charged only when the order is matched. Here are the details regarding the applicable fees:

1. Fee Calculation:

1. The total fee per lot is specified for each trading product.

2. No fees are charged for pending orders or canceled orders.

3. Fees are calculated on one-way buying or selling transactions.

2. Transaction Basis:

1. Different commodity groups may have varying fee structures.

2. Transaction fees are determined based on the commodity group and transaction basis of each product.

3. Fee Amount:

1. Fees are standardized across different commodities within the same group.

2. The total fee per lot is specified in Vietnamese Dong (VND) for each trading product.

4. No Interest or Transaction Tax:

1. Additionally, there is no transaction tax levied on trades.

2. No interest is charged, even when leverage is utilized for trading.

5. Objective:

1. By charging fees only upon order matching and ensuring no additional charges for pending or canceled orders, the exchange facilitates fair and efficient trading for participants.

2. The fee schedule aims to provide transparency and clarity regarding the costs associated with trading goods on VMEX.

Deposit & Withdrawal

At the Vietnam Commodity Exchange (VMEX), customers can manage their funds through deposit and withdrawal processes facilitated by various banking channels. Here's a breakdown of how deposits and withdrawals are handled:

Deposit Process:

1. Bank Transfers:

• Name of Beneficiary: VMEX COMMODITY TRADING JOINT STOCK COMPANY

• Beneficiary Account Number: 031 66 011567899

• Payment Content: [Transaction Account Number] [Transaction Account Name without accents]

• Name of Beneficiary: VMEX COMMODITY TRADING JOINT STOCK COMPANY

• Beneficiary Account Number: 19034 866 173 012

• Payment Content: [Transaction Account Number] [Transaction Account Name without accents]

1. When depositing funds at MSB:

2. When depositing funds at Techcombank:

3. Customers can make deposits or transfers via online banking platforms connected to VMEX, such as Techcombank and MSB.

Withdrawal Process:

1. Online Withdrawal:

• Trading account from which to withdraw money.

• Amount to withdraw.

• Bank account for withdrawal.

1. VMEX processes valid withdrawal requests immediately upon receipt. The time for funds to be withdrawn to the account ranges from 30 minutes to 36 hours, depending on the banking system.

2. Withdrawal time: 8:00 - 17:00 from Monday to Friday. Requests made after this time will be processed the next business day.

3. Withdrawal requests include:

4. Customers can submit withdrawal requests online through their management account provided on the VMEX website.

2. Withdrawal via Switchboard (Call Center):

• Call the switchboard number from the registered phone number.

• Provide account number and verification information.

• Submit a withdrawal request and confirm the request.

• Morning: 8:30 a.m. to 11:30 a.m.

• Afternoon: 1:00 p.m. to 3:00 p.m.

1. Steps:

2. Execution time: Monday to Friday except holidays and Tet.

3. Customers can call the switchboard number 091 19 19 356 during specified hours.

In both deposit and withdrawal processes, VMEX aims to provide customers with efficient and secure transactions, leveraging online banking and dedicated customer support services to ensure smooth fund management experiences.

Trading Platforms

VMEX offers CQG as its recommended commodity trading software for investors, both professional and non-professional alike. Through CQG, users gain access to three primary platforms: CQG Desktop, CQG Trader, and CQG QTrader. CQG Desktop, a web-based solution, provides comprehensive charting and technical analysis tools accessible across various operating systems. Meanwhile, CQG Trader offers real-time price information and intuitive order placement features. For professional traders, CQG QTrader extends the functionality with advanced charting capabilities and the ability to stream real-time data to Microsoft Excel. Despite differences in features and platform compatibility, all CQG platforms uphold accuracy in market data and offer user-friendly interfaces. Additionally, VMEX ensures reduced usage fees, enhancing accessibility for traders across different expertise levels.

Customer Support

VMEX Commodity Trading Joint Stock Company provides comprehensive customer support services to ensure a seamless trading experience for its clients. Located on the 6th floor of the Hoang Minh building in Ho Chi Minh City, their customer support team is readily accessible via email at dvkh@vmex.vn, or through phone contacts at 0911.919.356 and 028 9999 7899. With a commitment to addressing inquiries and concerns promptly, VMEX's dedicated support staff offers personalized assistance to traders, ranging from account management guidance to technical support for their trading platforms. Whether it's resolving issues, providing market insights, or assisting with account-related queries, VMEX's customer support endeavors to deliver responsive and reliable service to meet the needs of their clientele.

Conclusion

In conclusion, VMEX offers a comprehensive commodity trading experience, providing a wide range of trading products across various categories, transparent fee structures, efficient fund management processes, and access to reliable trading platforms like CQG. While the lack of regulatory oversight poses potential risks, VMEX strives to mitigate these risks through responsive customer support services and a commitment to transparency. Traders can leverage VMEX's offerings while exercising caution and conducting thorough due diligence to ensure a secure and rewarding trading experience.

FAQs

Q1: Can I trade agricultural commodities on VMEX？

A1: Yes, VMEX offers a diverse range of agricultural commodities including corn, soybeans, wheat, and rice.

Q2: Are there any fees associated with trading on VMEX？

A2: Yes, transaction fees are charged only upon order matching, and there are no fees for pending or canceled orders.

Q3: How can I deposit funds into my VMEX trading account？

A3: You can deposit funds via bank transfers using online banking platforms connected to VMEX, such as Techcombank and MSB.

Q4: What trading platforms does VMEX recommend？

A4: VMEX recommends CQG as its commodity trading software, providing access to platforms like CQG Desktop, CQG Trader, and CQG QTrader.

Q5: Is VMEX regulated by any financial authority？

A5: No, VMEX operates outside regulatory oversight, which may pose risks to investors. However, the exchange aims to provide transparent and reliable trading services despite the lack of regulatory scrutiny.

Risk Warning

Online trading carries substantial risk, potentially leading to the total loss of invested funds. It may not be appropriate for all traders or investors. It's crucial to fully comprehend the associated risks before engaging in trading activities. Additionally, the content of this review is subject to change, reflecting updates in the company's services and policies. The review's creation date is also relevant, as information could have become outdated. Readers should confirm the latest information with the company prior to making any investment decisions. The responsibility for utilizing the information provided herein lies exclusively with the reader.