Cathay Futures
Pros and Cons
Pros
- Regulated by Taipei Exchange (TPEx)
- Access to major global exchanges including TAIFEX, HKEX, and CME
- Established operational history since 1993
- Offers trading in a variety of futures and leveraged foreign exchange
- Self-developed trading platform with technical support
Cons
- Not regulated by major authorities like FCA or ASIC
- Limited trading instruments with a focus on futures
- Outdated trading platform with no MetaTrader support
- Lack of educational resources and market analysis tools
- High trading fees and spreads on certain instruments
Basic Information
User Reviews
Cathay Futures Overview
Cathay Futures, established in 1993 and headquartered in Taiwan, is a regulated forex broker under the Taipei Exchange (TPEx). With a strong foundation in the trading industry, Cathay Futures offers margin trading for domestic and international commodities. The firm is committed to adhering to regulatory standards, ensuring a level of trust and credibility for its clients seeking to engage in leveraged foreign exchange trading.
Is Cathay Futures Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| Taipei Exchange (TPEx) | Taiwan | Segregated Funds |
Is Cathay Futures Regulated and How Are Client Funds Protected?
Cathay Futures is regulated by the Taipei Exchange (TPEx) in Taiwan, which provides a framework for trading in futures and leveraged foreign exchange. This regulatory oversight ensures that the broker operates under strict guidelines, which helps promote a fair trading environment. Client funds are protected through measures such as segregated accounts, ensuring that client deposits are kept separate from the broker’s operational funds. This separation helps safeguard investors’ capital in the event of financial difficulties faced by the broker. Additionally, Cathay Futures has been in operation since 1993, enhancing its credibility and trustworthiness in the market.
Trading Products and Services
What trading instruments does Cathay Futures offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, AUD/NZD | Many |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | Varies |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | Many |
| Stocks | Apple, Tesla, BP, Vodafone | Varies |
| Cryptocurrencies | BTC, ETH, XRP, LTC | Many |
Cathay Futures offers a diverse range of trading tools and financial products catering to various types of traders. With access to multiple asset categories including Forex, commodities, indices, stocks, and cryptocurrencies, traders can choose from numerous options to implement their strategies. This diversity allows both beginners and seasoned professionals to adapt their trading approaches based on market conditions and personal investment goals. By supporting a wide array of products, Cathay Futures enables users to create a balanced portfolio, enhancing their potential for returns while managing risk effectively. Such flexibility is crucial for traders looking to navigate the complex dynamics of global markets.
Account Types and Trading Conditions
What Account Types and Fees Does Cathay Futures Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Retail Account | Beginners and casual traders | Low minimum deposit, user-friendly platform | Ideal for those starting in trading |
| Professional Account | Experienced traders | Higher leverage, advanced trading tools | Requires trading volume verification |
| Corporate Account | Business entities | Customized services, multiple trading options | Requires corporate documentation |
| Islamic Account | Traders requiring compliance with Sharia law | Swap-free trading options | Available upon request with proof of eligibility |
| Demo Account | New traders and those testing strategies | Risk-free environment with virtual funds | Unlimited access to practice trading |
Account Opening Process
The account opening process at Cathay Futures involves several straightforward steps. First, prospective clients must submit personal information, which includes their full name, contact details, and date of birth. Next, employment details are required, such as current occupation and employer information. Additionally, financial information, including income sources and estimated trading capital, must be provided. Identity verification is an essential part of the process, necessitating the submission of a government-issued ID and proof of address, such as a utility bill or bank statement. Once the account is opened, traders have the flexibility to upgrade to a professional account later, should their trading activity and volume justify the transition.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for major pairs |
| Forex (GBP/USD) | 1.2 | $0 (ECN: $3.5/lot) | Competitive for minor pairs |
| CFDs (Stocks) | 0.1% | $5 per lot | Varies by stock |
| CFDs (Indices) | 0.5% | $3 per lot | Standard rates |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on volatility |
Other Fees
In addition to trading fees, there are other costs associated with account management at Cathay Futures. These include deposit and withdrawal fees that may vary based on the payment method used. Inactivity fees may apply if an account remains dormant for an extended period. Users should be aware of platform usage fees, if applicable, which could be charged for advanced features. Overnight interest, or swap rates, will be incurred for positions held overnight. Additionally, currency conversion fees may apply when trading assets in different currencies, which could impact overall trading costs.
Trading Platforms and Apps
What Trading Platforms and Apps Does Cathay Futures Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MT4/MT5 | Windows, macOS, iOS, Android | 2FA, multiple order types, technical indicators, symbol lookup | Demo accounts, VPS |
| Web Version | Any device with a web browser | Encryption, one-click trading, price alerts | None |
| Mobile App | iOS, Android | Biometric login, push notifications, market search | None |
Each platform offered by Cathay Futures serves distinct needs: MT4/MT5 is ideal for advanced traders requiring extensive tools and automation, while the web version provides flexibility for users without dedicated software. The mobile app enhances accessibility, allowing trading on the go with secure logins and real-time alerts. Overall, Cathay Futures ensures robust security measures, fast order execution, and efficient market search capabilities across all platforms.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| Local Bank Transfer | 1–2 business days | No platform fee | Min 100, Max 50k/day | USD, HKD |
| GrabPay | Instant | 1.2% charge | Min 50, Max 20k/day | USD, SGD |
| Alipay | Instant | No platform fee | Min 100, Max 10k/day | CNY, USD |
| SEPA Transfer | 3–5 business days | No platform fee | Min 200, Max 30k/day | EUR |
| SPEI | Instant | No platform fee | Min 250, Max 15k/day | MXN, USD |
Minimum Deposit
Cathay Futures requires a minimum deposit of $100 for standard accounts. This amount may vary based on the chosen payment method, with options like GrabPay allowing deposits as low as $50. Additionally, certain account types may have different minimums, so users should review their specific account details before funding.
How to Withdraw
To withdraw funds from your Cathay Futures account, follow these steps:
- Log in to your Cathay Futures account.
- Navigate to the ‘Withdrawal’ section in your account dashboard.
- Select your preferred withdrawal method from the available options.
- Enter the amount you wish to withdraw, ensuring it complies with the limits.
- Confirm your withdrawal request and review any applicable fees.
- Submit your request and wait for the processing time specified for your chosen method.
Customer Support
Cathay Futures Customer Support Overview
Support Channels
Cathay Futures offers multiple support channels to assist customers effectively. You can reach out to their support team via the following methods:
- Email: Customers can send inquiries to cathay@cathayfut.com.tw for detailed assistance.
- Live Chat: A convenient live chat option is available on their website for immediate support.
- Telephone: For direct assistance, customers can call +886-02-7752-1699.
- Social Media: Cathay Futures is active on various social media platforms, providing updates and support to their followers.
Service Availability
Cathay Futures provides customer support from Monday to Friday, operating 24/5 to cater to customer needs. They also offer multilingual support, primarily in Mandarin and English, ensuring effective communication with a diverse clientele.
Additional Resources
Cathay Futures enhances its customer service experience with a range of educational resources, including:
- Video tutorials covering trading basics and platform navigation.
- Webinars hosted by market experts to discuss strategies and market trends.
- Market analysis reports to help customers make informed trading decisions.
- Trading signals that provide insights into potential market movements.
The customer reviews highlight the efficiency of their support services, with many users appreciating the quick response times and thorough assistance provided.
Frequently Asked Questions
Yes, Cathay Futures is regulated by the Taipei Exchange (TPEx) in Taiwan, which ensures that it complies with industry standards for futures and leveraged foreign exchange trading. This regulation provides a level of oversight and security for clients engaging in trading activities.
Cathay Futures offers margin trading for a variety of domestic and foreign commodities. The margin requirements vary by financial product, with original margins for domestic futures starting at NT$356,000 for the Taiwan Stock Index. For foreign products, initial margins also vary depending on the specific contract being traded.
Client funds at Cathay Futures are held in segregated accounts, ensuring that they are protected and separate from the company’s operational funds. This practice is standard among regulated brokers, providing clients with peace of mind regarding the safety of their investments.
Cathay Futures provides access to major international exchanges across Asia, Europe, and the Americas, offering a robust trading platform. Clients can expect a professional user experience with reliable customer support, accessible through multiple channels, ensuring assistance is available whenever needed.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.