SunLong

Overview of SunLong

SunLong is a brokerage firm based in Hong Kong, specializing in trading precious metals such as London gold and London silver. SunLong is regulated by The Chinese Gold & Silver Exchange Society, ensuring compliance with industry standards and regulations.

The company's platform, which includes the popular MT4 trading software, integrates market charts, technical analysis tools, and order trading functionalities. This user-friendly platform is widely adopted by international investors and professional individuals, offering them a seamless trading experience.

SunLong offers more than just online trading of precious metals. In addition to facilitating online transactions, SunLong also provides the option for clients to purchase physical gold bars. This feature allows investors to diversify their holdings and own tangible assets. By accepting physical gold bar orders, SunLong enables clients to acquire real gold bullion and store it securely in top-tier vaults. This service provides a sense of assurance and peace of mind to investors who prefer the tangible nature of physical gold.

Is SunLong legit or a scam？

SunLong, also known as SunLong Bullion (Hong Kong) Co., Ltd., is a verified and regulated broker under The Chinese Gold & Silver Exchange Society. They hold a Type AA License and operate under the supervision and regulations of the Hong Kong authorities. The license number is 157. SunLong has a reputable presence in the industry and is committed to providing advanced and reliable transaction services to its customers.

Considering their regulatory status and industry reputation, SunLong can be regarded as a legitimate trading service provider rather than a scam. However, as with any financial transaction, it is always recommended to conduct thorough research, exercise caution, and make informed decisions when engaging with any brokerage or trading platform.

Pros and Cons

SunLong comes with a series of advantages and disadvantages at the same time as a trading broker. SunLong offers diversified trading options for traders, allowing them to trade gold and silver and even place orders for physical gold bar

s. This provides users with the opportunity to explore different investment avenues and diversify their portfolios. In addition, SunLong provides educational resources and demo accounts, enabling traders to enhance their knowledge and skills without risking real money. The platform's user-friendly trading platforms make it easy for users to access real-time market data, charts, and analysis tools, facilitating informed trading decisions.

However, there are some aspects that could be improved. One limitation of SunLong is the relatively limited asset variety. While it specializes in precious metals, traders seeking a broader range of financial instruments may find the options limited on this platform. Additionally, there have been occasional concerns regarding the availability and responsiveness of customer support.

In summary, SunLong offers diversified trading options, accepts physical gold bar orders, provides educational resources and demo accounts, and features user-friendly trading platforms. However, it may have limited asset variety and occasional issues with customer support availability. Traders should consider these factors along with their individual trading needs and preferences when choosing a platform.

Products and Services

SunLong's main product offering is gold trading. Gold has been valued as one of the most precious metals throughout history. Due to its limited supply in nature and unique chemical properties, it has been regarded as a symbol of wealth and power. Gold holds a special position in the financial and commodity markets, serving as an industrial raw material and playing a significant role in government foreign exchange reserves and commodity currencies. Its excellent hedging and value preservation properties have made it a popular investment tool.

SunLong provides transactions for London gold, which allows customers to buy and sell gold in a two-way trading manner. This enables customers to take advantage of potential profit opportunities in the gold market. SunLong carefully selects various physical gold products for customers, providing them with a range of options to easily purchase real gold. After purchasing gold from SunLong, customers have the option to store their gold in a secure vault facility, ensuring its safety and reliability.

One of the featured gold products offered by SunLong is the ten-ounce gold bar. It has specific dimensions and a minimum extraction quantity. The bar has a length of 54.95mm, a thickness of 12.7mm, and a width of 25.25mm. It weighs 10 troy ounces, which is the standard unit of weight for precious metals. The gold bar is of high purity (999.9+ fineness) and is quoted in Hong Kong dollars or US dollars.

Purchasing Real Gold Bars

To order gold from SunLong, the process is straightforward and can be completed in a few simple steps.

1. Inquire about the current price by contacting the dedicated staff through email or online customer service.

2. Confirm the quotation and obtain the real gold order form.

3. Fill in the real gold order form with the necessary details.

4. Submit the completed order form to the dedicated staff via email or online customer service.

5. Make the full payment within 2 hours using either a check or bank transfer.

6. Fill in the remittance advice and provide a scan of the bank remittance proof.

7. Submit the remittance advice and proof to the dedicated staff through email or online customer service.

8. Ensure that the payment is completed within the specified timeframe to avoid the invalidation of the quotation.

Please note that if submitting the order form by email, specify “real gold order” in the subject line. For the latest quotation or any further assistance, contact the professional staff at SunLong.

After ordering, you can pick up the gold bar according to the pick-up time. To pick up the ordered gold bar from SunLong, follow these steps:

1. After your remittance has been confirmed, the responsible staff of Xulong Bullion will call you to confirm the pick-up time.

2. Fill in the appointment notice and submit it to the dedicated staff of Xulong Bullion via email or online customer service for final confirmation of the withdrawal time.

On the scheduled delivery date, you must visit the headquarters of Xulong Bullion (Hong Kong) Co., Ltd. in Hong Kong to sign for the delivery. It's important to note that no delivery service is provided.

When picking up your ordered gold from SunLong, it's important to keep the following tips and precautions in mind. First, upon settlement, make sure to bring proof of remittance and your identity documents for verification purposes. Pick-up appointments can be scheduled on weekdays between 09:30 am to 15:00 pm, except on Saturdays, Sundays, and Hong Kong public holidays.

In case you need to change your pick-up appointment time, it's advisable to inform Xulong Bullion at least three working days in advance. Failure to complete the withdrawal on the scheduled delivery date will result in a storage fee imposed by Xulong Gold Industry (Hong Kong) Co., Ltd. This fee amounts to 40 Hong Kong dollars per ounce per month, starting from the day following the scheduled delivery date. If the storage period is less than one month, the fee is charged on a monthly basis until the actual delivery takes place.

Lastly, it's crucial to carefully inspect the quality of the product upon delivery. Once the delivery is signed and confirmed, SunLong does not allow returns or exchanges.

Step-by-step on opening an account

Opening a trading account in SunLong is a simple process that can be done completely online. Read on to catch on the step-by-step tutorial to open an account in SunLong.

1. Visit the SunLong website: Go to the official website of SunLong (https://www.slgold88.com) and look for the “Open an Account” button on the website's homepage. Click on it to start the registration process.

2. Fill in the required information in the registration form, including your name, email address, phone number, and any other details as requested. Ensure the accuracy of the information provided.

3. Follow the instructions provided to verify your account. This may involve submitting identification documents, such as a copy of your passport or ID card, and proof of address.

4. Once your account is verified, you will need to deposit funds into your trading account.

5. With your funded account and chosen trading platform, you can now access the markets and start trading precious metals through SunLong's platform. Familiarize yourself with the platform's features and tools to make informed trading decisions.

Remember to keep your account information secure and adhere to SunLong's trading policies and regulations. If you encounter any difficulties during the account opening process, reach out to SunLong's customer support for assistance.

Spreads & Commissions (Trading Fees)

When trading gold with SunLong, there are certain considerations regarding spreads and commission fees. For local London gold, each contract unit is equivalent to 100 ounces. The minimum price fluctuation is set at USD 0.01, and the minimum transaction volume is 0.05 lots. Typically, the bid-ask spread for local London gold is around USD 0.50, indicating a small difference between buying and selling prices.

In the case of local London silver, each contract unit represents 5000 ounces. The minimum price fluctuation is USD 0.001, and the minimum transaction volume is 0.05 lots. The bid-ask spread for local London silver is generally around USD 0.03.

During the daily settlement process, SunLong calculates an inventory fee for all open positions held by customers. For local London gold, each contract (buy or sell) is subject to a storage fee of USD 3 per day. Similarly, for local London silver, each contract (buy or sell) incurs a storage fee of USD 6 per day. Inventory fees are also charged during holidays and weekends.

It's important to note that spreads, commission fees, and inventory fees can be subject to changes based on market conditions and SunLong's policies.

Leverage

SunLong provides margin trading facilities to its clients, allowing them to leverage their positions in the market. In SunLong, leverage is used to enhance potential gains or losses in trading. Leverage ratios vary depending on the investment product, ranging from 20 times to 200 times (1:20 to 1:200). The leverage ratio determines the magnification of the investment.

The basic deposit acts as the margin for the contract, representing a percentage (0.5% to 5%) of the transaction amount. The current basic deposit for local London Gold is USD 800 per contract, and for local London Silver, it is USD 2,000 per contract.

Trading Platform

SunLong offers the MT4 (MetaTrader 4) trading platform, widely used for precious metal trading. It integrates market charts, technical analysis tools, and trading operations, allowing order placement, stop loss/take profit settings and data analysis. With features like flexible order placement, guaranteed stop loss, powerful charting, and analysis functions, it caters to investors' needs. The platform ensures security with multiple protection measures and offers a free demo trading option for practice.

Its user-friendly interface provides real-time position and fund status, transaction history, and personalized SMS reminders. Additionally, the platform supports sound alarms for price alerts. To access the platform, users can download the PC version from SunLong's website and contact their online customer service for further assistance.

Deposit & Withdrawal

SunLong offers convenient methods for depositing funds, including bank counters, ATMs, online/telephone banking, and bank wire transfers. Registered names must match bank account names, and bank wire transfers may take a few business days. Online deposits can be made using a UnionPay card and online banking. Simply log in, select the MT4 account, enter the deposit amount, and complete the transaction.

Customer Support

SunLong offers customer support services to assist clients with their inquiries and concerns. The company has dedicated departments that cater to specific areas of customer support, ensuring that clients receive the assistance they need.

The Finance Department operates from Monday to Friday, between 09:30 and 16:30, excluding public holidays. The Customer Service Department is available from Monday to Friday, between 09:30 and 18:00, while the Marketing Department is accessible during the same hours.

To reach SunLong's customer support team, you can utilize various contact methods. The company's address is Office A, 17/F, MG Tower, 133 Hoi Bun Road, Kwun Tong, Hong Kong. For direct communication, you can contact them by phone at +852-39779288 or send an email to info@slgold88.com. Additionally, fax communication is possible by sending documents to +852-39779299.

Educational Resources

SunLong goes beyond offering trading services by providing comprehensive support for traders through various educational resources. SunLong offers a range of educational resources such as market information, news updates, trading-related guides, demo accounts, and more. These resources keep traders updated with the latest market trends, economic events, and financial news that can impact their trading activities.

Additionally, SunLong also offers demo accounts, allowing traders to practice and familiarize themselves with the trading platform and strategies without risking real money. By providing these educational resources, SunLong demonstrates its commitment to equipping traders with the necessary tools and knowledge to enhance their trading skills and navigate the financial markets with confidence.

Conclusion

In conclusion, SunLong offers traders a comprehensive platform for trading precious metals, specifically gold and silver. With the ability to trade online and even order physical gold bars, users have the flexibility to explore different investment options and diversify their portfolios. The availability of educational resources and demo accounts further enhances the trading experience, providing traders with the tools and knowledge to make informed decisions. SunLong's user-friendly trading platforms make it accessible for traders of all levels, allowing them to access real-time market data and execute trades efficiently. Overall, SunLong provides a reliable platform for traders to participate in the precious metals market, backed by its reputation, clear regulations, and commitment to customer satisfaction.

However, it is important to note that traders should conduct their own due diligence and research to gather more information about SunLong or any broker they consider working with. While SunLong offers advantages for traders, it is crucial to be aware of the potential risks involved in trading, including market volatility and potential losses. Traders should always exercise caution, develop a sound trading strategy, and stay updated on market conditions.

FAQs

Q: Is SunLong regulated by any financial authority？

A: SunLong is regulated and holds a Type AA License under The Chinese Gold & Silver Exchange Society in Hong Kong.

Q: What trading products are available on SunLong？

A: SunLong offers trading in gold and silver, as well as physical gold bar orders.

Q: How can I open an account with SunLong？

A: To open an account, visit SunLong's website, complete the registration process, and follow the verification requirements.

Q: What trading platform does SunLong use？

A: SunLong uses the popular MT4 platform for trading, providing real-time data, charts, and analysis tools.

Q: How can I contact SunLong's customer support？

A: SunLong's customer support can be reached via email or phone during business hours from Monday to Friday. Contact details are available on their website.