Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.
Learn more about our methodology and editorial policies.
WOCOM Pros & Cons
- 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.
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.
TU Expert Verdict
WOCOM carries a higher degree of risk. My review and user feedback point to noticeable performance issues and limitations. It may be appropriate only for experienced traders who fully understand the risks and are prepared for potential instability.
Top-5 Brokers Traders Prefer
WOCOM User Reviews
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Commissions and Fees
Score:We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria1 /10The trading and non-trading commissions of WOCOM have been analyzed and rated as having High fees, with a fees score of 1/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, 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 OANDA FOREX.com Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. — 0 0 Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. — 0 0 Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. — 0-15 0 Inactivity fee ($, per month) — 0 15 -
Is WOCOM Safe?
Score:We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria8 /10WOCOM 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 Full Name Securities and Futures Commission of Hong Kong Country of regulation Hong Kong Investor Protection Fund No specific fund Regulation Level Tier-1 WOCOM Security Factors Foundation date - Negative balance protection YesVerification (KYC) Yes -
Account Types
However, WOCOM does not provide an ECN account with direct market access, which may be a drawback for experienced traders or scalpers seeking the lowest spreads.
- Low minimum deposit
- Multiple setups for different styles
- No Swap Free account
- Micro lots are not available
WOCOM account types vs top competitors WOCOM Plus500 OANDA Standard NoYesYesECN/Raw spread NoNoYesDemo NoYesYesCent NoNoNoMicro NoNoYesSwap Free NoNoYesVIP NoNoNoManaged NoNoNoWOCOM accounts trading conditions
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:
Account Type Description Securities and stock options account This account type is designed for investing in Chinese, Hong Kong, and international securities, as well as stock options. Futures account This account type allows trading futures contracts on derivative exchanges. Forex account This is a leveraged account type for currency trading. 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.
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Deposit and Withdrawal
Score:This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology3.5 /10WOCOM 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
- Minimum deposit below industry average
- No bank card option
- Withdrawal fee applies
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 OANDA Bank Wire YesYesYesBank card NoYesYesPayPal NoYesYesWise NoNoNoBTC NoNoYesWhat are WOCOM base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. WOCOM supports the following base account currencies: USD, HKD, RMB.
What are WOCOM's minimum deposit and withdrawal amounts?
The minimum deposit on WOCOM is $10,000, 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.
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Markets and Tradable Assets
Score:The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria2.3 /10WOCOM offers a limited selection of trading assets compared to the market average. The platform supports 0 assets in total.
- Commodity futures are available
- Multiple markets
- Small selection of currency pairs
- Crypto trading not available
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 OANDA Currency pairs 60 68 Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 2800 129 Stocks YesYesYesCommodity futures NoYesYesCrypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada. NoYesYesStock indices NoYesYesOptions YesYesNoInvestment options
We also explored the trading assets and products WOCOM offers for beginner traders and investors who prefer not to engage in active trading.
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Trading Account Opening
Score:We evaluated Trading Account Opening at WOCOM by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.7 /10We successfully registered an account with WOCOM in 12 minutes. The KYC verification was completed within 1 business day. The minimum deposit amount at WOCOM is $10,000. Overall, the account setup process is efficient and suitable for most traders.
- Quick KYC verification (1 business day or less)
- Fully online account opening process
- Fast registration time (up to 15 minutes)
- Account setup process may feel less convenient for beginners
WOCOM account opening WOCOM Plus500 OANDA Online Registration YesYesYesMinimum deposit $10,000 $100 $0 Mandatory KYC YesYesYesRegistration time (min) 12 10 KYC time (days) 1 3 3 Is WOCOM available in my country?
If you are a citizen of United States, the broker accepts clients from your country.
Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.
Account opening details
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.
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Customer Support
Score:We evaluated Customer Support at WOCOM by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria6 /10Customer support at WOCOM is available, but response speed and service quality may vary. Some requests are handled efficiently, while others may require follow-ups.
During testing, response times were moderate, and communication depended on the complexity of the request. WOCOM provides basic support functionality but does not stand out in overall service performance.
InformationClients 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.
- Live support on WhatsApp
- Various communication methods
- 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 cs@wocom.com.hk Tel: (852) 2853-0111
Fax: (852) 2854-3822
WhatsApp: (852) 5616-0672
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FAQs
How are WOCOM’s commissions and fees described in reviews and analysis?
WOCOM’s trading and non-trading fees are described as high, with a fees score of 1/10 in the analysis. The review notes above-average Forex trading fees, the absence of ECN/Raw Spread accounts, and the presence of inactivity, deposit, and withdrawal fees, while exact fee percentages and amounts are not specified in the section.
What types of trading accounts does WOCOM offer and what limitations are noted?
WOCOM offers separate accounts for securities and stock options, futures, and Forex, available for both individual and corporate clients. However, the review states that there is no Standard, ECN/Raw spread, Demo, Cent, Micro, Swap Free, VIP, or Managed account, and that accounts can only be opened in person at a WOCOM office, with no online registration for Hong Kong citizens or foreign residents.
What do user reviews say about overall satisfaction with WOCOM?
WOCOM has a user satisfaction score of 6/10 based on 2 reviews. According to user reviews, all ratings are 3-star, indicating a mixed and moderate level of satisfaction rather than clearly positive or negative impressions.
What markets and tradable assets are available at WOCOM according to reviews?
The review notes that WOCOM offers a limited selection of trading assets and reports 0 total supported assets in the platform summary. It indicates that stocks and options are available, commodity futures are listed as an advantage but marked as not supported in the comparison table, and crypto, stock indices, bonds, ETFs, copy trading, PAMM investing, and managed accounts are not available, highlighting a generally narrow product range.
How do reviews describe the WOCOM trading account opening process and requirements?
The account opening process at WOCOM is described as fully online, with registration taking about 12 minutes and KYC verification completed within 1 business day. The review highlights a relatively high minimum deposit of $10,000 and notes that, despite the efficient setup, the process may feel less convenient for beginners.
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