According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $10,000
- Online Stock Trading
- Wocom iTrader (Mobile App)
- China Connect/Stock Connect
- SFC
Our Evaluation of WOCOM
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
WOCOM is a high-risk broker with the TU Overall Score of 2.25 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by WOCOM clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker.
WOCOM, a stock and Forex broker regulated by Hong Kong's SFC, offers a wide range of trading instruments and markets with a high level of security. However, its strict minimum deposit requirements and lack of investor education may make it less suitable for beginners.
Brief Look at WOCOM
The WOCOM brand comprises three Hong Kong-based brokers specializing in securities, derivatives, and Forex, along with an investment firm focused on asset management. Founded in the 1970s, the group has been managed by Wing On, a major Hong Kong trading company, since 1986. WOCOM provides brokerage services to residents of Hong Kong, mainland China, and foreign investors. Available trading assets include stocks, bonds, ETFs, futures, and options from both local and international markets. WOCOM is regulated by the Securities and Futures Commission of Hong Kong (SFC), and its clients' assets are protected by the Investor Compensation Fund.
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- The first company under the brand was founded over 50 years ago.
- Regulation by Hong Kong’s Securities and Futures Commission ensures investor protection.
- Competitive brokerage fees for securities trading.
- A wide range of markets and assets.
- Opportunities to invest in IPOs, mutual funds, and both pre-built and customized portfolios.
- Support for advanced trading methods via an electronic web platform and mobile apps.
- Fast deposit options from a bank account.
- The minimum investment requirement for trading on Hong Kong exchanges is HKD 10,000, while access to international markets requires at least USD 10,000.
- It is not possible to open an account via the broker’s website or app - applicants or their legal representatives must visit a WOCOM office in person.
- The company’s website does not provide educational materials for beginner investors or market research and analysis.
TU Expert Advice
Financial expert and analyst at Traders Union
WOCOM, a regulated Hong Kong-based broker, provides access to both local and international financial markets. Originally specializing in commodities, the company transitioned from a niche broker to a full-fledged stockbroker in the late 1980s. Over time, WOCOM has obtained licenses for securities trading, derivatives, and Forex instruments.
WOCOM also has an investment division, offering clients mutual fund investments, consulting services, and portfolio management. One of its latest innovations is a direct automatic debit feature, allowing regular transfers from a bank account to a stock account. In November 2023, WOCOM launched a proprietary mobile application for stock trading on the Hong Kong Stock Exchange (HKEX).
While WOCOM has streamlined the trading process and enabled investment through electronic platforms, some advanced features, such as remote account opening, remain unavailable. Clients must visit a WOCOM office in person, provide the necessary documents, and sign an agreement to complete registration. Overall, WOCOM offers a high level of security and quality support, but it does not yet provide the full range of modern online trading tools.
WOCOM Trading Conditions
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
| 💻 Trading platform: | Online Stock Trading, Wocom iTrader (Mobile App), China Connect/Stock Connect |
|---|---|
| 📊 Accounts: | Individual/Company, Securities and Stock Options Account, Futures Account, Forex Account |
| 💰 Account currency: | USD, HKD, RMB |
| 💵 Deposit / Withdrawal: | Faster Payment System (FPS), Payment by Phone Service (PPS), Bank Transfer, Cheque Deposit, Telegraphic Transfer SWIFT (available to foreign clients), transfer of assets from another broker |
| 🚀 Minimum deposit: | HKD 10,000 / USD 10,000 |
| ⚖️ Leverage: |
No - for securities and derivatives Yes - for Forex |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 1 security, 1 contract (for futures and options) |
| 💱 EUR/USD spread: | 1,5-2,5 pips |
| 🔧 Instruments: | Securities (China, Hong Kong, international), local and foreign futures, options, mutual funds, Forex, IPOs, ETFs |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Order execution: | Exchange Execution |
| ⭐ Trading features: | Trading in China and Hong Kong shares on a single platform, no gradation of commissions for investors with different trading turnover |
| 🎁 Contests and bonuses: | No |
WOCOM provides access to trading stocks, stock options, and futures on the Hong Kong Stock Exchange, investing in foreign stocks, futures, IPOs, and Forex trading. Residents of China and Hong Kong must deposit a minimum of HKD 10,000 or the equivalent in another currency, to begin investing, while foreign residents must deposit at least USD 10,000. WOCOM’s mobile apps and web platform are designed for trading Hong Kong-listed stocks, and Chinese securities can be accessed via the China Stock Connect platform.
WOCOM Key Parameters Evaluation
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Trading Account Opening
To access a WOCOM user account, click the Internet Trading button for a web-based account login or use the mobile app. Then, enter the live account number and password. Those who are not yet WOCOM clients must visit an office to open an account.
Regulation and safety
WOCOM has a safety score of 8/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Negative balance protection
- Track record of less than 8 years
WOCOM Regulators and Investor Protection
| Abbreviation | Full Name | Country of regulation | Investor Protection Fund | Regulation Level |
|---|---|---|---|---|
 SFC HK |
Securities and Futures Commission of Hong Kong | Hong Kong | No specific fund | Tier-1 |
WOCOM Security Factors
| Foundation date | - |
| Negative balance protection | Yes |
| Verification (KYC) | Yes |
Commissions and fees
The trading and non-trading commissions of broker WOCOM have been analyzed and rated as High with a fees score of 1/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- Volume-based discounts
- Above-average Forex trading fees
- No ECN/Raw Spread account
- Inactivity fee applies
- Deposit fee applies
- Withdrawal fee applies
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of WOCOM with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Does WOCOM support RAW/ECN accounts?
As we discovered, WOCOM does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with WOCOM. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
WOCOM Non-Trading Fees
| WOCOM | Pepperstone | OANDA | |
| Deposit fee, % | — | 0 | 0 |
| Withdrawal fee, % | — | 0 | 0 |
| Withdrawal fee, USD | — | 0 | 0-15 |
| Inactivity fee ($, per month) | — | 0 | 0 |
Account types
To invest in financial instruments through WOCOM, traders must open an account with the broker. Both individual (Individual Account) and corporate (Company Account) accounts are available. The account types vary depending on the market, as listed below.
Account types:
Accounts can only be opened in person at a WOCOM office. Online registration is not available for Hong Kong citizens or foreign residents.
WOCOM offers its clients access to multiple financial markets, allowing them to diversify their investment portfolios and manage risk levels according to their preferences.
Deposit and withdrawal
WOCOM received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
WOCOM offers limited payment options and accessibility, which may impact its competitiveness.
- Bank wire transfers available
- Low minimum withdrawal requirement
- BTC not available as a base account currency
- Deposit fee applies
- PayPal not supported
What are WOCOM deposit and withdrawal options?
WOCOM offers a limited selection of deposit and withdrawal methods, including Bank Wire. This limitation may restrict flexibility for users, making WOCOM less competitive for those seeking diverse payment options.
WOCOM Deposit and Withdrawal Methods vs Competitors
| WOCOM | Plus500 | Pepperstone | |
| Bank Wire | Yes | Yes | Yes |
| Bank card | No | Yes | Yes |
| PayPal | No | Yes | Yes |
| Wise | No | No | No |
| BTC | No | No | No |
What are WOCOM base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. WOCOM supports the following base account currencies:
What are WOCOM's minimum deposit and withdrawal amounts?
The minimum deposit on WOCOM is $10000, while the minimum withdrawal amount is $—. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact WOCOM’s support team.
Markets and tradable assets
WOCOM offers a limited selection of trading assets compared to the market average. The platform supports 0 assets in total, including 0 Forex pairs.
- Commodity futures are available
- Multiple markets
- Bonds not available
- Small selection of currency pairs
WOCOM Supported markets vs top competitors
We have compared the range of assets and markets supported by WOCOM with its competitors, making it easier for you to find the perfect fit.
| WOCOM | Plus500 | Pepperstone | |
| Currency pairs | 60 | 90 | |
| Total tradable assets | 2800 | 1200 | |
| Stocks | Yes | Yes | Yes |
| Commodity futures | No | Yes | Yes |
| Crypto | No | Yes | Yes |
| Stock indices | No | Yes | Yes |
| Options | Yes | Yes | No |
Investment options
We also explored the trading assets and products WOCOM offers for beginner traders and investors who prefer not to engage in active trading.
| WOCOM | Plus500 | Pepperstone | |
| Bonds | No | No | No |
| ETFs | No | Yes | Yes |
| Copy trading | No | No | Yes |
| PAMM investing | No | No | Yes |
| Managed accounts | No | No | No |
Customer support
Clients can reach support Monday through Friday from 09:00 to 18:00 (GMT+8), ensuring assistance is available during trading hours. Support is provided in Chinese and English.
Advantages
- Live support on WhatsApp
- Various communication methods
Disadvantages
- There is no possibility to order a callback
- The company does not work with traders on Saturdays, Sundays and holidays
Clients can contact WOCOM through the following methods:
-
Phone call.
-
Fax.
-
WhatsApp messenger.
-
Email.
During business hours, in-person assistance is available at the office: Room 1002, Wing On Centre, 111 Connaught Road Central. The contact section on the website includes its Google Maps location.
Contacts
| Registration address | Wocom Securities Limited, Room 1002 Wing On Centre, 111 Connaught Road Central, Hong Kong |
|---|---|
| Regulation | SFC |
| Official site | https://wocom.com.hk/ |
| Contacts |
Tel: (852) 2853-0111
Fax: (852) 2854-3822 WhatsApp: (852) 5616-0672 |
Education
The official WOCOM website does not provide educational materials for beginner investors to learn about securities and derivatives trading.
The broker does not offer demo accounts, webinars, or seminars for novice investors.
Comparison of WOCOM with other Brokers
| WOCOM | Bybit | Eightcap | XM Group | Markets4you | Octa | |
| Trading platform |
China Connect/Stock Connect, Wocom iTrader (Mobile App), Online Stock Trading | MetaTrader5 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MobileTrading, MT5 | MetaTrader4, MetaTrader5, OctaTrader |
| Min deposit | $10000 | No | $100 | $5 | No | $25 |
| Leverage | No |
From 1:1 to 1:500 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:10 to 1:4000 |
From 1:40 to 1:1000 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | No | No | No |
| Spread | From 0 points | From 0 points | From 0 points | From 0.8 points | From 0.1 points | From 0.6 points |
| Level of margin call / stop out |
No | No / 50% | 80% / 50% | 100% / 50% | 100% / 20% | 25% / 15% |
| Order Execution | Instant Execution | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | No | No | No | Yes | No |
Detailed Review of WOCOM
WOCOM, one of Asia's oldest financial services firms, is headquartered in Hong Kong. It provides traders access to a wide range of trading instruments, including local, Chinese, and international securities and derivatives, Forex, and mutual funds. WOCOM is a regulated and well-capitalized broker and a member of the Hong Kong Stock Exchange (HKEX). The company offers a variety of derivative financial instruments, including leveraged products, to help clients manage risk and hedge their investments.
WOCOM by the numbers:
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Over 50 years experience in the securities and derivatives markets.
-
4 licenses issued by the Securities and Futures Commission of Hong Kong.
-
Listed on the Hong Kong Stock Exchange for more than 10 years.
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Investment protection of up to 500,000 HKD per client.
WOCOM is a broker for online trading in Hong Kong, China, and global markets
WOCOM offers its clients convenient trading platforms and mobile applications. These tools allow active traders and investors to monitor portfolio performance, execute trades, and track market information in real-time. The platforms feature a user-friendly interface and various useful functions for technical and fundamental market analysis. Trading is available Monday to Friday, 08:30 to 21:30 (GMT+8).
WOCOM provides access to China Connect, a program created by HKEX (Hong Kong), SSE (Shanghai), and SZSE (Shenzhen) to facilitate investments and trading for investors in Hong Kong and China. China Connect includes two main schemes: Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect. These programs enable investors from Hong Kong and other countries to trade Chinese stocks listed on SSE and SZSE directly through the Hong Kong Stock Exchange.
WOCOM’s analytical services:
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News Section. Provides updates on financial market regulations in Hong Kong, as well as information on new WOCOM products and offerings.
-
Wocom iTrade Mobile Apps. This allows traders to quickly place, adjust, and close positions, track portfolio data, and manage deposits and withdrawals.
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WhatsApp Chat. Enables real-time communication with WOCOM’s support team via smartphone or web messenger.
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Forms and documents. The broker’s website provides all necessary documentation in PDF format for account opening, withdrawal requests, asset transfers, and more.
Advantages:
There are no fees for stock clearing and custodial services.
Direct communication with a certified WOCOM manager via WhatsApp.
Access to derivatives trading, including Forex.
Fully regulated and transparent brokerage operations.
User-friendly mobile applications with comprehensive tools for fund and trade management.
WOCOM partners with major banks in China and Hong Kong, including Hang Seng Bank, Bank of China, and Dah Sing Bank. These partnerships ensure the accuracy and timeliness of domestic and international transactions through the SWIFT system.
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