WZG

Wan Zhou Gold Group Limited, commonly known as WZG or 万洲金业, is a precious metals brokerage headquartered in Hong Kong. According to its official website, the company was founded in 2017 and is a member of the Chinese Gold & Silver Exchange Society (HKGX) holding AA class membership (No. 141). The broker specializes in the trading of London Gold and London Silver, offering retail investors access to the global precious metals market through leveraged contracts for difference (CFDs).

The broker operates under the regulatory oversight of HKGX, which is a self-regulatory body for precious metals trading in Hong Kong. While HKGX is not a government regulator like the SFC, it sets rules for its members and provides a dispute resolution framework. WZG also notes on its website that it is registered with the Hong Kong Companies Registry (Company No. 67766150).

WZG is regulated by the Chinese Gold & Silver Exchange Society (HKGX) as an AA class member. This designation permits the broker to trade precious metals and offer electronic trading services. HKGX operates under the Hong Kong government's supervision, but it is not a statutory body. Traders should be aware that this form of regulation is less comprehensive than that of the Hong Kong Securities and Futures Commission (SFC).

The broker does not currently hold any other major regulatory licenses (such as FCA, CySEC, or ASIC). Its risk score from FXCanary's internal assessment is 45 out of 100, indicating a 'Guarded' level of concern. This score reflects the broker's limited regulatory framework, recent establishment, and the inherent risks of leveraged OTC trading.

WZG offers two main account types: the Standard Account and the VIP (高端) Account. According to its website, the minimum deposit is just $10, making it accessible to beginners. The Standard Account requires a minimum of 2% margin per trade, allowing leverage of up to 50:1. The VIP Account offers larger maximum lot sizes (50 lots per trade vs. 20 lots for Standard) and additional rebates for frequent traders.

Both account types allow trading in fractional lots (from 0.01 lot) and have no limit on total open positions. The broker charges no commission, deriving revenue from the bid-ask spread. Overnight financing (swap) is applied to positions held past the daily settlement time, with rates of 1.25% per annum for long positions and 0.75% per annum for short positions.

WZG provides the MetaTrader 5 (MT5) platform for trading, which is available on Windows, macOS, iOS, and Android. MT5 is known for its advanced charting capabilities, multiple timeframes, and support for automated trading through Expert Advisors (EAs). The broker also offers a proprietary mobile application named '万洲金业黄金投资软件' for real-time quotes, trading, and account management.

Both platforms enable traders to access real-time prices for London Gold and London Silver, execute orders quickly, and use various order types (market, limit, stop). The broker claims that its execution environment is free from dealing desk intervention and that it provides trading codes for transaction verification via the HKGX website.

The broker exclusively focuses on two instruments: London Gold (XAU) and London Silver (XAG). These are traded as CFDs against the US dollar. The contract for gold is 100 troy ounces per lot, and silver is 5,000 troy ounces per lot. Minimum lot size is 0.01 for both. Spreads are fixed at $20 per lot for gold and $100 per lot for silver, with no commissions.

Trading is available 23 hours a day from Monday to Saturday (with a daily settlement break), following the precious metals over-the-counter market. Margin requirements are set at 2% at the initial level, and a margin call (forced liquidation) is triggered when the margin level falls to 30% or below. The broker does not offer any other asset classes such as forex, indices, commodities, or cryptocurrencies.

WZG states that it processes deposits and withdrawals 24 hours a day, 7 days a week. Funding methods include bank wire transfer, online banking, and mobile payment options. The minimum deposit is $10, and there are no deposit fees charged by the broker. Withdrawals are said to be processed promptly, with no hidden charges.

Customer support is available around the clock via live chat, phone, and email. The website also features a comprehensive FAQ section and educational articles on precious metals trading. The broker does not offer Islamic (swap-free) accounts, and swaps are applied to all overnight positions regardless of account type.

WZG primarily targets retail investors interested in precious metals trading, particularly those looking for a low-cost entry point with a minimum deposit of $10. The broker's simple product offering and MT5 platform make it suitable for both beginners and experienced traders who focus solely on gold and silver. However, traders seeking a wider range of instruments or stronger regulatory protection (such as from an FCA or ASIC license) may find it less appealing.

Given its Hong Kong base and Chinese-language interface, the broker is particularly focused on the Asian market, including mainland Chinese investors. The website is available in Chinese and English, but the majority of content is in Chinese.