SHANGQUAN'S OFFICIAL WEBSITE: Https://shangquanfx.com/#/?lang=en-us Are Usually Inaccessible.
GENERAL INFORMATION
SHANGQUAN Is An Unregulated Brokerage Company Registered In Hong Kong. Although The Official Website Of The Broker Has Been Closed, Traders Cannot Access More Security Information.
REGULATIONAL INFORMATION
SHANGQUAN Claims To Have Been Established In 2016 And Is Headquartered In Hong Kong. But We Checked Its Domain Name And Found That It Was Created In 2021. How Could It Be Open For Business In 2016? This Is A Red Flag.
Also, As A FX Dealer, You Should Be Aware That All Regulated FX Dealers In Hong Kong Are Regulated By The Hong Kong Securities And Futures Commission (SFC). However, We Did Not Find Any Results In The SFC That Matched SHANGQUAN. In Fact, SHANGQUAN Is Not Regulated By Any Regulatory Body. It Is Not Safe To Let This Dealer Hold Or Control Investors' Funds, And These Funds Are Not Protected By Any Law. Therefore, This Is A Fake Trader.
Disadvantages
Unaccessible Website: SHANGQUAN's Website Is Inaccessible, Raising Concerns About Its Reliability And Accessibility.
Lack Of Transparency: Since SHANGQUAN Does Not Explain More Trading Information, Especially About Fees And Services, It Will Bring Great Risks And Reduce Transaction Security.
Regulatory Issues: SHANGQUAN Is Not Regulated And Is Less Secure Compared To Regulated Brokers.
Withdrawal Difficulties: Some Users Have Experienced Significant Difficulties In Withdrawing Money. Even Though The Request Has Been Pending For A Long Time, The Problem Is Still Unresolved.
