CITIC Futures

Overview of CITIC Futures

CITIC Futures Co., Ltd. is a leading futures brokerage firm based in China since 1993. As a member of the three major commodity futures exchanges in Zhengzhou, Shanghai, and Dalian, it offers a wide range of trading varieties in China's futures market, including financial futures, ferrous building materials, non-ferrous metals, agricultural products, energy, and chemical industries.

With the highest rating in the classified supervision of the China Securities Regulatory Commission, the company ensures strong regulatory compliance and credibility. CITIC Futures provides cross-border risk management and arbitrage services to domestic and foreign industry chain institutions, along with 24-hour trading, risk control, and liquidation support for its customers.

Is CITIC Futures legit or a scam？

CITIC Futures Ltd operates as a licensed institution with a regulated status in the China Financial Futures Exchange (CFFEX). It holds a Futures License issued by the Chinese regulatory authority, and its license number is 0018. As a licensed futures broker, CITIC Futures is subject to regulatory oversight and supervision by the Chinese regulatory agencies. Being regulated signifies that the company operates within the legal framework and guidelines set forth by the regulatory authorities to ensure transparency, fairness, and investor protection. Compliance with regulations is vital in the financial industry, especially in the futures market, to maintain the integrity of the financial system and safeguard the interests of investors.

By holding a valid futures license and abiding by the regulations set by the Chinese authorities, CITIC Futures demonstrates its commitment to conducting its business operations in a responsible and compliant manner, which can foster trust and confidence among its clients. Investors can be assured that their transactions and investments are carried out in accordance with established rules and standards, providing a level of security and credibility in their dealings with the broker.

Pros and Cons

CITIC Futures offers a comprehensive range of 53 trading varieties, providing ample opportunities for investors in various sectors, from financial futures to energy and metals. Their user-friendly trading platform allows for easy access to trading functionalities and market data, enhancing convenience for traders. As a regulated brokerage firm, CITIC Futures ensures compliance with Chinese regulatory standards, providing a sense of security for clients. The company's high rating in the classified supervision of the China Securities Regulatory Commission further adds to their credibility. Additionally, their customer support services offer assistance and guidance to traders, contributing to a positive client experience.

One concern is the lack of explicit information about certain aspects, including spread and commission fees, as well as the minimum deposit requirement. Traders might find it challenging to make informed decisions without clear details on these crucial financial considerations. Additionally, some traders might wish for more transparency regarding fees and conditions, which could be an area of improvement for the broker.

Market Instruments

CITIC Futures provides an extensive range of market instruments, covering 53 trading varieties listed in China's futures market. In the financial futures segment, CITIC Futures supports stock index futures and treasury bond futures, allowing investors to speculate on the performance of stock market indices and government bond prices, respectively. For those interested in the construction and industrial sectors, ferrous building materials such as rebar and iron ore are available for trading. Agricultural products like eggs, cotton, soybeans, and corn offer opportunities for investors interested in the agricultural industry.

Non-ferrous metals like gold, silver, and copper provide options for those looking to diversify their portfolios with precious metals. Additionally, the energy and chemical industries are represented with futures trading in commodities like fuel oil and methanol. CITIC Futures' broad offering of market instruments allows investors to participate in various sectors, providing ample opportunities for growth and risk management. Whether traders are interested in financial derivatives or commodities, the firm's comprehensive selection caters to a wide range of investment strategies and objectives.

How to open an account in CITIC Futures？

The account opening process for CITIC Futures can be done completely online through the “CITIC Futures APP”. It can be completed in 6 simple steps:

1. Take clear photos of your ID card beforehand to avoid issues during the process. Account opening is available during trading hours on trading days.

2. Download the “CITIC Futures APP” and select “Futures Account Opening” from the “My” menu. Enter your mobile number and receive a verification code. Agree to the terms and proceed.

3. Enter your ID card number and complete the image verification with a captcha. If you have a reserved mobile number, the verification code will be sent automatically.

4. Upload clear photos of your ID card and a handwritten signature. You can also use an electronic signature if needed.

5. Upload photos of your bank card and verify the information. Make sure the card number is accurate.

6. Complete a risk assessment questionnaire if needed. Follow the instructions to finish the process.

That's it! You have successfully opened a futures account with CITIC Futures using their mobile app

Spread and Commission Fees

There is no explicit mention of spread and commission fees related to their trading services. Spread refers to the difference between the buying (ask) and selling (bid) prices of a financial instrument, and commission fees are charges levied by brokers for executing trades on behalf of clients. Both spread and commission fees can significantly impact the overall cost of trading and can vary based on the trading instruments, account types, and market conditions.

Leverage

There is no mention of margin trading or leverage details on the official website of CITIC Futures. It is essential to note that margin trading and leverage are significant components of futures trading and play a crucial role in enhancing potential gains or losses for traders. However, for specific details on margin requirements, leverage ratios, and related trading terms, potential investors would need to refer to CITIC Futures' official website, contact their customer support, or review their official documents and terms of service.

Trading Platform

CITIC Futures provides its clients with access to the advanced trading and data client platform, Esunny Epolestar v9.3, developed by Zhengzhou Esunny Information Technology Co., Ltd. This platform is built on an efficient microkernel architecture, offering the benefits of compact size, high-speed performance, and robust functionality. With authentic authorization, it furnishes users with comprehensive domestic and overseas market data, including level 5 data for Zhengzhou Commodity Exchange, empowering them to make informed decisions through graphic indicators analysis.

The platform's trading capabilities are extensive and powerful, encompassing features like managing multiple accounts, engaging in self-combined arbitrage, executing fast orders, and batch orders, and implementing stop loss and profit strategies. Moreover, CITIC Futures' clients can easily navigate the interface for option trading strategies, which includes 12 basic strategies, the ability to create self-combined strategies, and access to features like probability graphs and profit or loss graphs.

Deposit & Withdrawal

CITIC Futures offers multiple deposit and withdrawal methods, including bank transfers, through banks such as Construction Bank, ICBC, China Merchants Bank, and others. Deposit times are from 08:30 to 16:00 and 20:30 to 02:30 on the futures trading day, while withdrawals can be made from 08:30 to 16:00 on the same day. There are no limits on funds or the number of transfers for active accounts, except for dormant accounts, which have a maximum daily deposit limit of 1001 yuan.

For non-dormant customers, the daily accumulative withdrawal limit is set to RMB 100 million, with a maximum of 5 withdrawals per day. If withdrawals exceed this limit, customers need to inform the branch operation staff or customer service hotline before the end of the bank transfer time on the trading day. The withdrawable funds in the fund account are 90% of available funds on days with trading orders or positions, but this ratio returns to 100% if all positions are closed within the trading day. The futures capital account requires a minimum guarantee fund of 10 yuan, which can be canceled by customer application before the end of the bank-futures transfer time on the trading day if there are no open orders, transactions, or positions.

Customer Support

CITIC Futures ensures top-notch customer support for its clients, offering multiple avenues to address their trading needs. Through a National Hotline, customers can easily seek assistance with trading inquiries, account matters, or technical support across China. The hotline number, 400-9908-826, provides nationwide accessibility, making it convenient for clients from various regions to connect with the company's support team.

For more formal communications, a fax number, 0755-83217421, is available, allowing customers to send documents and receive written responses. Moreover, CITIC Futures maintains an informative website, http://www.citicsf.com, where clients can access valuable market insights, educational materials, and information about the company's services and trading instruments.

Educational Resources

CITIC Futures provides a comprehensive range of educational resources to empower investors with knowledge and insights. Their “Invest in Classroom” offers a variety of learning materials and courses covering the basics of futures and options, policies and regulations, as well as more advanced topics. Through these resources, investors can gain a better understanding of the financial markets and make informed decisions.

Additionally, CITIC Futures offers simulation experiences to help investors practice and apply what they have learned in a risk-free environment. The simulation software allows users to participate in mock trading and experience real-market scenarios without actual financial risk. By bridging the gap between theory and practice, CITIC Futures ensures that investors can build practical skills and confidence in their trading strategies. Through these educational initiatives, CITIC Futures demonstrates its commitment to investor protection and empowerment, fostering a more knowledgeable and informed investment community.

Conclusion

CITIC Futures is a well-established brokerage firm based in China, providing a wide range of trading services in the futures market. As a member of the major commodity futures exchanges in Zhengzhou, Shanghai, and Dalian, and being part of the China Financial Exchange and China Futures Association, CITIC Futures is in the classified supervision of the China Securities Regulatory Commission. The broker supports futures and options trading for 53 trading varieties, covering various sectors such as financial futures, agricultural products, energy, and metals. Clients can access their services through the user-friendly platform which offers efficient trading functionalities, market data, and analysis tools.

While CITIC Futures offers a comprehensive platform and diverse market instruments, there is a concern regarding the lack of detailed information about certain aspects, such as spread and commission fees, as well as the minimum deposit requirement. Traders may need to directly contact the broker to obtain specific details on these critical aspects before making investment decisions.

FAQs

Q: What is the regulatory status of CITIC Futures？

A: CITIC Futures is a regulated broker, holding a Futures License issued by the Chinese regulatory authority. It operates within the legal framework, ensuring transparency and investor protection.

Q: What market instruments are available for trading？

A: CITIC Futures supports 53 trading varieties listed in China's futures market, covering financial futures, ferrous building materials, non-ferrous metals, agricultural products, energy, and chemical industries.

Q: What deposit and withdrawal methods are available at CITIC Futures？

A: CITIC Futures offers multiple deposit and withdrawal methods, including bank transfers from national banks, such as Construction Bank, ICBC, China Merchants Bank, and others for their deposit and withdrawal transactions.

Q: How is customer support at CITIC Futures？

A: CITIC Futures provides reliable customer support to clients through various channels, including phone hotlines and branch offices, to address customer inquiries and concerns.

Q: Does CITIC Futures offer educational resources for traders？

A: Yes, CITIC Futures provides educational resources for traders in the form of investment classrooms, videos, and educational activities to help traders gain knowledge and improve their trading skills.