What are the formal foreign exchange platforms in China?

There is no formal foreign exchange trading platform in Chinese mainland. Generally speaking, foreign exchange platforms, such as Jiekai Finance, FXCM, etc., are the first formal platforms to enter China and are supervised by FCA in the UK.

Foreign exchange is a new financial investment project with the deepening of globalization in China in recent years. Although it has a long history, it is still relatively new in China and has broad prospects.

Whether the foreign exchange platform is formal or not depends on whether it is a full standard, a white standard or a black standard company. Simply put, the full standard means that there are brokers, banks, regulatory agencies and MT4 accounts, and the regulatory agencies are in the same country or region as the brokers and banks, which is referred to as onshore supervision.

In other words, full-standard companies generally have dual supervision: securities firms are supervised by issuing agencies (similar to CSRC), customer funds are supervised by banking institutions (not securities firms), and settlement is made by government settlement departments (similar to China UnionPay).

Regarding whether the foreign exchange platform is formal, it is recommended to go to the foreign exchange eye. Wikifx (Chinese name: foreign exchange eye) is an enterprise information query tool under Wiki Limited. Its core function is to provide listed foreign exchange trading enterprises with basic information inquiry, regulatory permission inquiry, credit evaluation, platform identification and other services.

Wikifx, based on the public data of government departments, combined with advanced sniffing system and scientific computer algorithm, has built a big data solution integrating data collection, data screening, data aggregation, data modeling and data productization. On this basis, the supervision level and risk level of listed companies are evaluated qualitatively and quantitatively from multiple dimensions, which can provide corresponding security solutions for individual users, enterprise users and government departments.