Question 1

Is SINO SOUND beginner-friendly?

FXScope Intelligence Lab · Accepted Answer

SINO SOUND presents significant challenges for beginners. While the broker offers demo accounts and basic account registration, the platform's regulatory status raises serious concerns. SINO SOUND is regulated by the Chinese Gold & Silver Exchange Society (CGSE), but this organization is not a government regulatory authority and lacks actual regulatory powers. The company has an Industry Tier 'D' rating, and its licensing status is marked as questionable with '?' symbols. Additionally, SINO SOUND specializes in precious metals trading, which involves complex market dynamics and high-risk leveraged products. For novice investors, the combination of limited regulatory oversight, questionable licensing, and the inherent complexity of precious metals trading makes this broker unsuitable. Beginners should consider brokers with stronger regulatory frameworks and more transparent operations.

Question 2

What regulatory oversight does SINO SOUND have?

FXScope Intelligence Lab · Accepted Answer

SINO SOUND operates under regulation by the Chinese Gold & Silver Exchange Society (CGSE) in Hong Kong with license number 208. However, this regulatory framework has significant limitations. The CGSE is explicitly not a government regulatory authority and has no actual regulatory powers, which means SINO SOUND lacks proper governmental oversight. The company's licensing status is marked as questionable with '?' symbols, and it's classified as 'Unregulated and suspected of illegal operation.' This regulatory gap represents a substantial risk factor for traders, as there is no government body ensuring compliance with financial regulations or providing investor protection measures.

Question 3

What trading products does SINO SOUND offer?

FXScope Intelligence Lab · Accepted Answer

SINO SOUND specializes in precious metals trading and claims to be the only spot gold exchange in Hong Kong. The company offers trading in gold and silver bars, including proprietary 5-tael and 10-tael 9999 purity gold and silver bars that are recognized by CGSE's accredited refineries. These products come with individual sealed security packaging and quality certification certificates. Additionally, SINO SOUND provides Swiss-made 9999 purity 1000g gold bars. The company also offers MT4 trading platform access, which includes various trading indicators, expert advisors for automated trading, and extensive charting tools. However, the broker focuses primarily on precious metals rather than traditional forex currency pairs.

Question 4

How can I open an account with SINO SOUND?

FXScope Intelligence Lab · Accepted Answer

SINO SOUND offers both real and demo account registration through their official website at https://www.ss208.com.hk. To open a real account, visit the website and click on 'Open Account' in the 'Sino Sound Services' dropdown menu, then select 'Open Real Account' and complete the registration form. For demo accounts, follow the same process but select 'Open Demo Account' instead. The registration involves filling out required information according to the provided steps. Given the regulatory concerns and questionable licensing status, potential traders should exercise extreme caution and thoroughly verify the broker's legitimacy before proceeding with any account opening or fund deposits.

Question 5

What are SINO SOUND's deposit and withdrawal options?

FXScope Intelligence Lab · Accepted Answer

SINO SOUND offers various deposit and withdrawal methods primarily through major Chinese banks, including Bank of China (Hong Kong), China Construction Bank, Industrial and Commercial Bank of China, Agricultural Bank of China, China UnionPay, and Bank of Communications. The broker also provides 24/7 multilingual customer support through multiple channels including phone support at +(852) 2902 9999, +(852) 2902 9998, and +400-148-5400, email support at cs@gold2u.com, and online chat functionality on their website. However, given the regulatory concerns and lack of proper government oversight, traders should be extremely cautious about depositing funds and should consider the potential risks of limited recourse if issues arise.

Question 6

What is the overall risk assessment of SINO SOUND?

FXScope Intelligence Lab · Accepted Answer

SINO SOUND carries substantial risk factors that investors should carefully consider. The broker has an Industry Tier 'D' rating and a current rating of 2.98, indicating below-average performance and reliability. While the company is marked as 'Active,' its regulatory status is highly questionable - it's marked as 'Unregulated and suspected of illegal operation.' The regulatory framework through CGSE lacks government backing and actual enforcement powers. Additionally, the domain was only registered in July 2022, despite the company claiming to be established in 2012, which raises transparency concerns. The combination of questionable regulatory oversight, poor industry ratings, and lack of government protection makes SINO SOUND a high-risk broker that potential traders should approach with extreme caution or avoid entirely.

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