外汇及现货黄金保证金交易服务

外匯及現貨黃金保證金交易服務

FX and Spot Gold Trading Services

透过网上及电话助您捕捉每个外汇及贵金属投资机会

工银亚洲提供全面的保证金交易服务予有经验投资者。只需存入交易金额之5%(外汇)或7%(贵金属)作为保证金,阁下就可以在一个账户中叙做多种保证金产品, 从而捕捉各个投资机会。

保证金外汇交易服务

我们提供全面的外汇产品及有经验的投资者,包括:

  • 现货外汇
  • 外汇远期
  • 外汇期权
  • 不交收远期外汇及期权

你可叙做不同的货币或任何两个货币之组合,包括美元兑英镑、欧元、日圆、加元、澳元、纽西兰元、离岸人民币、港元及瑞士法郎。

保证金贵金属交易服务

您可24小时交易贵金属产品*,包括伦敦金(XAU) 、白银(XAG)、铂金(XPT)、钯金(XPD)。交易不仅可以美元报价,您亦可选择以其它主要货币报价,例如黄金兑日元。

* 本行并不提供实货交收。

网上交易平台

阁下现在可以透过网上理财系统交易各种保证金产品,这里叙做现货交易时,并没有最低交易金额及优惠价格,而且阁下还可以设置预放盘、价格提示、实时询价,系统还提供市场消息及分析图表。

专业交易热线

除网上交易系统外,阁下也可以任何时间使用电话叙做各种保证金交易、获取弹性方案及专业服务。产品专家将协助阁下交易及市场动态,尤其较复杂产品。

各种预放盘

  • 限价盘
  • 止赚/损盘
  • 执行后单一指令
  • 二选一指令
  • 执行后二选一指令

所有预放盘客户可选择”直至取消为止” (GTC), ”直至周末为止”,”直至当日为止”或指定时间。

优点

  • 24小时交易服务*
  • 提供多种保证金产品选择
  • 特优买卖差价
  • 具弹性的方案
  • 全面的交易工具
  • 多币种定存作保证金
  • 一个账户处理多种产品
  • 提供网上服务:交易、开户、保证金转账及电子结单

*由星期一早上8时至星期六早上5点(纽约夏令时间)或6点(纽约冬令时间)

 

本文件仅供说明用途,不构成任何人士订立任何交易或采纳任何交易策略的任何推荐建议或游说,并不构成对利率或价格的未来可能变动的任何预测,亦不构成任何有关变动不会超出任何说明范例所示的任何陈述。您将不会依赖来自我们就您可能给予我们任何指示所得的任何数据、建议或其它通讯数据,包括市场调查及评论。我们不会就任何评论、财务数据或数据的准确性、真实性、可靠性、充足性、时效性或完备性,或是否适合作任何用途而作出保证、陈述或担保,亦不会就您或任何其它人士依赖任何评论、数据或数据而承担任何责任。工银亚洲或任何关连公司或会以本文件所述任何工具或货币持有仓盘。

存款保障

保证金交易账户的存款是符合香港存款保障计划的保障资格的存款。中国工商银行(亚洲)有限公司是香港存款保障计划的成员。我们接受的合资格存款受存款保障计划保障,最高法定保障上限现为每名存款人500,000港元。但保证金交易账户下挂的已完成交易为投资产品,并非受保障存款,不受香港的存款保障计划保障。

以下为保证金外汇/贵金属交易所涉及的若干风险概要。这并非一份详尽清单,故建议您在订立该等交易前寻求独立专业意见。您务请依据本身的财务状况、经验及投资目标,审慎考虑有关交易是否适合您。

保证金外汇/贵金属交易的风险

如果市场状况不符合您的预期,您或会面临重大或无限亏损。杠杆式外汇/贵金属交易的亏损风险可属重大或无限。您所蒙受的损失可能超过您的现金及任何存作抵押品的其它资产。发出附带执行仓盘,如「止蚀」盘,亦未必可以将亏损限于拟定数额。市况或会让该盘的买卖无法按指定价格执行。如果市场走势与您的持仓相反,您或会被要求在短时间内存入额外保证金款额(可能涉及庞大数额)以维持您的仓盘。如未能于规定时限内提供所需抵押品或利息付款,您的仓盘或会在毋须获得您的同意下被平仓。此外,您仍须就您的账户就此而产生的亏损及就您的账户所收取的利息负责。对于额外保证金的要求并非我们根据相关条款及条件将您的未平仓仓盘平仓的先决条件,且在任何方面均不会限制我们对此的权利。因此,谨请您依据本身的财务状况及投资目标,仔细考虑有关交易是否适合。除非您明白并愿意承担与保证金交易有关的风险,以及有财政能力承受超出您向我们存放的抵押品的亏损,否则您不应参与有关交易。保证金交易通常涉及的高杠杆作用对您有利亦有弊。利用杠杆作用可能导致重大亏损或收益。

衍生工具

期权买卖渉及金融衍生工具的结构性产品。投资决定是由阁下自行作出的,除非中介人于售此结构性产品时已向阁下解释经考虑阁下的财务情况、投资经验及目标后,此产品是适合阁下的,否则阁下不应投资在此产品。期权买卖的收益只限于期权金,但亏损可以是极大或无限,阁下必须明白及可承受渉及的风险。

与人民币有关的风险

若保证金贵交易的计值货币为人民币,阁下应注意,人民币兑其它外币的价值会出现波动,并将受(其中包括)中国政府的管制措施(例如,中国政府规管香港及中国的人民币与外币的兑换)的影响,这可能对阁下于本保证金贵金属交易下的投资产生不利影响。阁下亦应注意,人民币目前不可自由兑换,在香港经银行兑换人民币受若干限制。

人民币不交收远期合约保证金交易

如果人民币与美元的汇率从交易订立之时起至交易结算之时止的期间发生变动,客户将承担汇率风险。客户须注意,该等产品并非保本的投资。客户须承担银行的信用风险。客户应准备持有人民币不交收远期合约直到其结算日。若人民币汇率大幅波动而导致客户存款(即保证金)达至或低于“最低保证金”比率时,本行有权在不作另行通知的情况下,将相关合约实时平仓。

产品适合性

我们将不会就任何交易的利弊向您提供任何推荐建议,亦不会提供任何意见。在订立任何保证金外汇/贵金属交易前,您应自行决定有关交易是否符合您的投资需要,自行就投资进行尽职审查,或在作出任何投资决定前征询独立法律、金融及其它专业意见。您或会在保证金外汇/贵金属交易中蒙受重大亏损。

外汇/贵金属价格波动

保证金外汇/贵金属交易的外汇/贵金属买入价或卖出价由我们报价,并参照外汇/贵金属的现行市价计算(并须受现行汇率(如适用)及我们的利润比率所规限)。外汇/贵金属的现行市价会因众多无法预测的因素而有大幅波动。影响深远的政治转变或会导致宪政及社会紧张局势,在若干情况下或会造成局势不稳及意见分歧。政治或经济不稳可能影响投资者对外汇/贵金属的信心,从而对外汇/贵金属的价格或价值造成负面影响。

汇率风险

您应注意,交易会以您选择的货币的报价执行,但有关交易会以美元结算。假如您的交易并非以美元报价执行,在结算您的交易时,您将面临所选择货币与美元之间的现行汇率波动的风险。任何涉及外币的交易(包括保证金外汇交易)均涉及全部以您所在国家货币计值的交易并不常见的额外风险。汇率可能极为波动,亦会受多项因素影响,如国内及海外的政治和经济政策的变动、政治动荡、战争、自然灾害及全球市场走势等。

投资风险

投资涉及风险,而外汇/贵金属现行市价可能波动。您的保证金交易账户内的仓盘价值可升亦可跌,有时更会出现显著升跌幅,甚至变成毫无价值。在最坏情况下,您可能蒙受重大或甚至无限亏损。

本行的信贷风险

中国工商银行(亚洲)有限公司(「本行」、「工银亚洲」、「我们」)作业产品首要的提供者,受香港金融管理局严格监管,是您的保证金外汇交易对手方。概无保证您可就本行未能履行其付款责任获得保障。若您订立保证金外汇交易,您所依赖的是本行而非其它人士的信用可靠性。倘本行无力偿债或未能履行其于保证金外汇交易项下的责任,您仅可以本行的无抵押债权人身份提出申索。在最坏情况下,您可能损失全数投资金额,而不论外汇价格表现及保证金外汇交易服务的条款为何。

费用

有关费用已从价格中反映

我们提早终止的风险

若您发生违约事件,我们可在发出通知后终止您的账户。在该情况下,所有未平仓仓盘将按我们基于当前情况真诚厘定的价格平仓,而您可能蒙受重大或无限亏损。

与我们的对冲活动有关的风险

我们可能会订立对冲交易,该等交易一般涉及与我们在市场上的相关对冲对手方建立外汇/贵金属的长及/或短仓。如对冲交易规模庞大,该等活动或会对外汇/贵金属现行市价造成不利影响,从而影响参照外汇/贵金属现行市价计算的保证金外汇/贵金属交易的外汇/贵金属买入价或卖出价。您于保证金交易账户内的仓盘的价值可升亦可跌。

抵销权及留置权

我们有权将您在保证金交易账户内的任何进账结余合并或汇集,以抵销您欠负我们的任何负债。

利益冲突

我们及我们的附属公司和联属公司就保证金外汇/贵金属交易所担当的不同角色可能产生潜在及实际的利益冲突,而我们于各个角色的经济利益可能有损您在保证金外汇/贵金属交易下的权益。

不可抗力事件

如因任何我们不能控制的原因,包括本地或国际性的天灾、政府措施、水灾、火灾、内乱、罢工、战争或我们无法合理控制的任何其它原因、机器故障、电力中断、故障、损坏、干扰或设备或装置不足或其它足以导致或可能导致外汇/贵金属价格反复无常的原因、外汇/贵金属市场或交易所关闭或任何足以影响您的保证金交易账户操作的其它原因而导致我们未能履行或延迟履行责任,我们概不负责。

在进行任何保证金外汇/贵金属交易前,您应阅读及理解保证金交易服务的条款及条件以及有关服务的数据。

借定唔借?还得到先好借!

透過網上及電話助您捕捉每個外匯及貴金屬投資機會

工銀亞洲提供全面的保證金交易服務予有經驗投資者。只需存入交易金額之5%(外匯)或7%(貴金屬)作為保證金,閣下就可以在一個賬戶中敘做多種保證金產品, 從而捕捉各個投資機會。

保證金外匯交易服務

我們提供全面的外匯產品及有經驗的投資者,包括:

  • 現貨外匯
  • 外匯遠期
  • 外匯期權
  • 不交收遠期外匯及期權

你可敘做不同的貨幣或任何兩個貨幣之組合,包括美元兌英鎊、歐元、日圓、加元、澳元、紐西蘭元、離岸人民幣、港元及瑞士法郎。

保證金貴金屬交易服務

您可24小時交易貴金屬產品*,包括倫敦金(XAU) 、白銀(XAG)、鉑金(XPT)、鈀金(XPD)。交易不僅可以美元報價,您亦可選擇以其他主要貨幣報價,例如黃金兌日元。

* 本行並不提供實貨交收。

網上交易平台

閣下現在可以透過網上理財系統交易各種保證金產品,這裡敘做現貨交易時,並沒有最低交易金額及優惠價格,而且閣下還可以設置預放盤、價格提示、即時詢價,系統還提供市場消息及分析圖表。

專業交易熱線

除網上交易系統外,閣下也可以任何時間使用電話敘做各種保證金交易、獲取彈性方案及專業服務。產品專家將協助閣下交易及市場動態,尤其較複雜產品。

各種預放盤

  • 限價盤
  • 止賺/損盤
  • 執行後單一指令
  • 二選一指令
  • 執行後二選一指令

所有預放盤客戶可選擇「直至取消為止」(GTC),「直至週末為止」,「直至當日為止」或指定時間。

優點

  • 24小時交易服務*
  • 提供多種保證金產品選擇
  • 特優買賣差價
  • 具彈性的方案
  • 全面的交易工具
  • 多幣種定存作保證金
  • 一個賬戶處理多種產品
  • 提供網上服務:交易、開戶、保證金轉賬及電子結單

由星期一早上8時至星期六早上5點(紐約夏令時間)或6點(紐約冬令時間)

 

本文件僅供說明用途,不構成任何人士訂立任何交易或採納任何交易策略的任何推薦建議或游說,並不構成對利率或價格的未來可能變動的任何預測,亦不構成任何有關變動不會超出任何說明範例所示的任何陳述。您將不會依賴來自我們就您可能給予我們任何指示所得的任何資料、建議或其他通訊資料,包括市場調查及評論。我們不會就任何評論、財務資料或數據的準確性、真實性、可靠性、充足性、時效性或完備性,或是否適合作任何用途而作出保證、陳述或擔保,亦不會就您或任何其他人士依賴任何評論、資料或數據而承擔任何責任。工銀亞洲或任何關連公司或會以本文件所述任何工具或貨幣持有倉盤。

存款保障

保證金交易賬戶的存款是符合香港存款保障計劃的保障資格的存款。中國工商銀行(亞洲)有限公司是香港存款保障計劃的成員。我們接受的合資格存款受存款保障計劃保障,最高法定保障上限現為每名存款人500,000港元。但保證金交易賬戶下掛的已完成交易為投資產品,並非受保障存款,不受香港的存款保障計劃保障。

以下為保證金外匯/貴金屬交易所涉及的若干風險概要。這並非一份詳盡清單,故建議您在訂立該等交易前尋求獨立專業意見。您務請依據本身的財務狀況、經驗及投資目標,審慎考慮有關交易是否適合您。

保證金外匯/貴金屬交易的風險

如果市場狀況不符合您的預期,您或會面臨重大或無限虧損。槓杆式外匯/貴金屬交易的虧損風險可屬重大或無限。您所蒙受的損失可能超過您的現金及任何存作抵押品的其他資產。發出附帶執行倉盤,如「止蝕」盤,亦未必可以將虧損限於擬定數額。市況或會讓該盤的買賣無法按指定價格執行。如果市場走勢與您的持倉相反,您或會被要求在短時間內存入額外保證金款額(可能涉及龐大數額)以維持您的倉盤。如未能於規定時限內提供所需抵押品或利息付款,您的倉盤或會在毋須獲得您的同意下被平倉。此外,您仍須就您的賬戶就此而產生的虧損及就您的賬戶所收取的利息負責。對於額外保證金的要求並非我們根據相關條款及條件將您的未平倉倉盤平倉的先決條件,且在任何方面均不會限制我們對此的權利。因此,謹請您依據本身的財務狀況及投資目標,仔細考慮有關交易是否適合。除非您明白並願意承擔與保證金交易有關的風險,以及有財政能力承受超出您向我們存放的抵押品的虧損,否則您不應參與有關交易。保證金交易通常涉及的高槓桿作用對您有利亦有弊。利用槓桿作用可能導致重大虧損或收益。

衍生工具

期權買賣?及金融衍生工具的結構性產品。投資決定是由閣下自行作出的,除非中介人於售此結構性產品時已向閣下解釋經考慮閣下的財務情況、投資經驗及目標後,此產品是適合閣下的,否則閣下不應投資在此產品。期權買賣的收益只限於期權金,但虧損可以是極大或無限,閣下必須明白及可承受?及的風險。

與人民幣有關的風險

若保證金貴交易的計值貨幣為人民幣,閣下應注意,人民幣兌其他外幣的價值會出現波動,並將受(其中包括)中國政府的管制措施(例如,中國政府規管香港及中國的人民幣與外幣的兌換)的影響,這可能對閣下於本保證金貴金屬交易下的投資產生不利影響。閣下亦應注意,人民幣目前不可自由兌換,在香港經銀行兌換人民幣受若干限制。

人民幣不交收遠期合約保證金交易

如果人民幣與美元的匯率從交易訂立之時起至交易結算之時止的期間發生變動,客戶將承擔匯率風險。客戶須注意,該等產品並非保本的投資。客戶須承擔銀行的信用風險。客戶應準備持有人民幣不交收遠期合約直到其結算日。若人民幣率大幅波動而導致客戶存款(即保證金)達至或低於“最低保證金”比率時,本行有權在不作另行通知的情況下,將相關合約即時平倉。

產品適合性

我們將不會就任何交易的利弊向您提供任何推薦建議,亦不會提供任何意見。在訂立任何保證金外匯/貴金屬交易前,您應自行決定有關交易是否符合您的投資需要,自行就投資進行盡職審查,或在作出任何投資決定前徵詢獨立法律、金融及其他專業意見。您或會在保證金外匯/貴金屬交易中蒙受重大虧損。

外匯/貴金屬價格波動

保證金外匯/貴金屬交易的外匯/貴金屬買入價或賣出價由我們報價,並參照外匯/貴金屬的現行市價計算(並須受現行匯率(如適用)及我們的利潤比率所規限)。外匯/貴金屬的現行市價會因眾多無法預測的因素而有大幅波動。影響深遠的政治轉變或會導致憲政及社會緊張局勢,在若干情況下或會造成局勢不穩及意見分歧。政治或經濟不穩可能影響投資者對外匯/貴金屬的信心,從而對外匯/貴金屬的價格或價值造成負面影響。

匯率風險

您應注意,交易會以您選擇的貨幣的報價執行,但有關交易會以美元結算。假如您的交易並非以美元報價執行,在結算您的交易時,您將面臨所選擇貨幣與美元之間的現行匯率波動的風險。任何涉及外幣的交易(包括保證金外匯交易)均涉及全部以您所在國家貨幣計值的交易並不常見的額外風險。匯率可能極為波動,亦會受多項因素影響,如國內及海外的政治和經濟政策的變動、政治動盪、戰爭、自然災害及全球市場走勢等。

投資風險

投資涉及風險,而外匯/貴金屬現行市價可能波動。您的保證金交易賬戶內的倉盤價值可升亦可跌,有時更會出現顯著升跌幅,甚至變成毫無價值。在最壞情況下,您可能蒙受重大或甚至無限虧損。

本行的信貸風險

中國工商銀行(亞洲)有限公司(「本行」、「工銀亞洲」、「我們」)作業產品首要的提供者,受香港金融管理局嚴格監管,是您的保證金外匯交易對手方。概無保證您可就本行未能履行其付款責任獲得保障。若您訂立保證金外匯交易,您所依賴的是本行而非其他人士的信用可靠性。倘本行無力償債或未能履行其於保證金外匯交易項下的責任,您僅可以本行的無抵押債權人身份提出申索。在最壞情況下,您可能損失全數投資金額,而不論外匯價格表現及保證金外匯交易服務的條款為何。

費用

有關費用已從價格中反映。

我們提早終止的風險

若您發生違約事件,我們可在發出通知後終止您的賬戶。在該情況下,所有未平倉倉盤將按我們基於當前情況真誠釐定的價格平倉,而您可能蒙受重大或無限虧損。

與我們的對沖活動有關的風險

我們可能會訂立對沖交易,該等交易一般涉及與我們在市場上的相關對沖對手方建立外匯/貴金屬的長及/或短倉。如對沖交易規模龐大,該等活動或會對外匯/貴金屬現行市價造成不利影響,從而影響參照外匯/貴金屬現行市價計算的保證金外匯/貴金屬交易的外匯/貴金屬買入價或賣出價。您於保證金交易賬戶內的倉盤的價值可升亦可跌。

抵銷權及留置權

我們有權將您在保證金交易賬戶內的任何進賬結餘合併或彙集,以抵銷您欠負我們的任何負債。

利益衝突

我們及我們的附屬公司和聯屬公司就保證金外匯/貴金屬交易所擔當的不同角色可能產生潛在及實際的利益衝突,而我們於各個角色的經濟利益可能有損您在保證金外匯/貴金屬交易下的權益。

不可抗力事件

如因任何我們不能控制的原因,包括本地或國際性的天災、政府措施、水災、火災、內亂、罷工、戰爭或我們無法合理控制的任何其他原因、機器故障、電力中斷、故障、損壞、干擾或設備或裝置不足或其他足以導致或可能導致外匯/貴金屬價格反覆無常的原因、外匯/貴金屬市場或交易所關閉或任何足以影響您的保證金交易賬戶操作的其他原因而導致我們未能履行或延遲履行責任,我們概不負責。

在進行任何保證金外匯/貴金屬交易前,您應閱讀及理解保證金交易服務的條款及條件以及有關服務的資料供的資料。

借定唔借?還得到先好借!

Helps You to Grasp Every Investment Opportunities in both FX and Precious Metal Markets through Internet and Phone

ICBC (Asia) is proud to offer comprehensive Margin Trading Services to sophisticated investors. With a deposit of only 5% (FX) or 7% (Precious Metal) of the contract amount, investors may invest in various Margin products in single account to capture investment opportunity.

Margin FX Trading Services

We are able to provide comprehensive FX products for sophisticated customers :

  • Spot FX
  • Currency Forward
  • Currency Options
  • Non-delivery Forward and Options

You can trade different currencies and any two of their combinations as Cross Rate trade Customer cannot split the cross rate position into 2 separate USD deals., including USD, JPY, EUR, GBP, CAD, AUD, NZD, CHF, CNH and HKD.

Margin Precious Metal Trading Services

You can trade various precious metal spot trading in 24 hours*, including London Gold (XAU), Silver (XAG), Platinum (XPT) and Palladium (XPD) against USD or other major currencies, such as XAU/JPY.

* No physical delivery is provided.

Online Trading Platform

You can trade various margin products through our Internet Banking System. There is no minimum transaction amount in Spot trading with preferential spread. Place various types of order, price alert, RFQ , news and analysis tools services are all available.

Specialist Hotline

Apart from our online trading, you can call our trading hotline at anytime to trade various products with flexible solution and professional services. Product specialist will help you in trading and market information, especially on advanced products.

Various Types of Condition Order

  • Limit Order
  • Stop Loss/Profit Order
  • If Done Order
  • One Cancel Other Order
  • If Done One Cancel Other Order

All condition order can be served as good til cancel (GTC), good til week end, good til day end, or specific time.

Strengths

  • 24 hours trading services*
  • Wide range product choices
  • Preferential trading spread
  • Flexible solution
  • Comprehensive trading means
  • Multi-currency time deposit pledge
  • One account for trading all products
  • Online services: Trading, account opening, margin deposit transfer and e-statement

* From 8:00 a.m. on Monday to 5:00 a.m. on Saturday (Eastern U.S. Summer Time) or 6:00 a.m. on Saturday (Eastern U.S. Winter Time).

 

This document is for information purposes only and does not constitute any recommendation or solicitation to any person to enter into any transaction or adopt any trading strategy nor does it constitute any prediction of likely future movements in rates or prices or any representation that any such movements will not exceed those shown in any illustration. You will not rely on any information, proposal or other communication, including market research and commentary, from us with respect to any instructions you may give us. We do not warrant, represent or guarantee the accuracy, truth, reliability, adequacy, timeliness or completeness of any commentaries, financial information or data or whether it is fit for any purpose, nor do we assume any liability for any reliance on any commentaries, information or data by you or any other person. ICBC (Asia), or any connected company, may have a position in any of the instruments or currencies mentioned in this document.

Deposit protection

Deposit in the margin trading account is a deposit qualified for protection by the Deposit Protection Scheme in Hong Kong. Industrial and Commercial Bank of China (Asia) Limited is a member of the Deposit Protection Scheme in Hong Kong. Eligible deposits taken by us are protected by the Scheme up to a statutory limit (currently set as HK$500,000) per depositor. However, executed transaction(s) linked to Margin Trading Account is an investment product and is not protected deposit and is not protected by the Deposit Protection Scheme in Hong Kong.

The following is a summary of some of the risks involving the margin FX / precious metal trading. It is NOT an exhaustive list, and you are recommended to obtain independent professional advice before entering into these trades. You should carefully consider whether such trading is suitable for you in light of your financial condition, experience and investment objectives.

Risk of margin FX and Precious metal trading

If the market situation is different from your expectation, you may face substantial or unlimited loss. The risk of loss in leveraged FX trading can be substantial or unlimited. You may sustain losses in excess of your cash and any other assets deposited as collateral. Placing contingent orders, such as “stop-loss” or “stop-limit” order, will not necessarily limit losses to the intended amounts. Market conditions may make it impossible to execute such orders at the designated price. If the market moves against your positions, you may be called upon at short notice to deposit additional margin funds (which may be substantial) in order to maintain your positions. If the required collateral or interest payments are not provided within the prescribed time, your position may be liquidated without your consent. Moreover, you will remain liable for any resulting deficit in your account and interest charged on your account. A demand for additional deposit is not a precondition to and does not in any way limit our right to liquidate your open positions according to the relevant terms and conditions. You should therefore carefully consider whether such trading is suitable in light of your own financial position and investment objectives. You should not participate in margin trading unless you understand and are willing to assume the risks associated with such transaction and are financially able to absorb losses in excess of the collateral you deposit with us. The high degree of leverage which is often obtained in connection with margin trades can work against you as well as for you. The use of leverage can lead to a large losses as well as gains.

Product suitability

We will neither provide any recommendation to you in respect of nor any advice on the merits of any transaction. Before entering into any margin FX / precious metal trade, you should decide for yourself whether such trade meets your investment needs, perform your own due diligence on investments or seek independent legal, financial and other professional advice prior to any investment decisions. You may suffer substantial losses under margin FX / precious metal trades.

Volatility of FX and Precious metal price

FX/Precious metal buying or selling price for margin FX / precious metal trading is quoted by us and calculated by reference to the prevailing market price of FX / precious metal (and is subject to the prevailing exchange rate (if applicable) and our profit margins). The prevailing market price of FX / precious metal can be very volatile due to a variety of factors that are unpredictable. Precious metal is a physical commodity and is limited in supply. Commodity markets are generally subject to greater risks than other markets, including potentially significant legal risks. Precious metal is a vital industrial commodity. The price of precious metal may be highly volatile. The price floats freely in accordance with the supply and demand of the relevant market. It responds quickly to political and economic applications and is determined in the open market. Price movements of precious metal are influenced by, among other thing, interest rates, exchange rates, inflation, changing market supply and demand relationships, fiscal, monetary and exchange control programmes and policies of governments, as well as international political, military and economic events and policies. Precious metal is often extracted by the emerging market countries. Far-reaching political changes may result in constitutional and social tensions, and in some cases these may result in instability and dissent. Political or economic instability may affect investor confidence in precious metal, which could in turn have a negative impact on the price or value of precious metal

Derivatives

The option and forward trading are structured products involving derivatives. The investment decision is yours but you should not invest in the Structured Products unless the intermediary who sells it to you has explained to you that the product is suitable for you having regard to your financial situation, investment experience and investment objectives. The loss of option trading can be substantial and unlimited but the gain maybe limited to option premium in some cases. Customer must understand and able to bear the risk involved before investing in the product.

Risk relating to RMB

If the denomination currency of Margin transaction is RMB, you should note that the value of RMB against other foreign currencies fluctuates and will be affected by, amongst other things, the PRC government’s control (for example, the PRC government regulates conversion between CNY and foreign currencies both in Hong Kong and the PRC), which may adversely affect your investments under this Margin Trading.

Exchange rate risk

You should note that the trades are executed at the prices quoted in the currency selected by you but the settlement of such trades is made in USD. If your trade is not executed at the price quoted in USD, you will be exposed to fluctuations in the prevailing exchange rate between the currency selected by you and USD when your trade is settled. Any transaction involving foreign currencies, include margin FX / precious metal trades, involves additional risks not common to transactions denominated entirely in your domestic currency. Foreign exchange rates can be highly volatile and can be affected by factors such as changes in political and economic policy (both domestic and overseas), political instability, wars, natural disasters and global market movements.

Investment Risk

Investment involves risks and the prevailing market price of FX / precious metal may fluctuate. The value of your positions in your margin trading account may move up or down, sometimes dramatically, and may even become valueless. In the worst case scenario, your loss may be substantial or even unlimited.

Credit risk of the bank

Industrial and Commercial Bank of China (Asia) Limited (the “Bank”, “ICBC (Asia)”, “we” or “us”) acts as a principal of this product, which is subject to the prudential regulation of the Hong Kong Monetary Authority, is your counterparty in the margin FX trades. There is no assurance of protection against a default by the Bank in respect of its payment obligations. If you enter into the margin FX trades, you are rely upon the creditworthiness of the Bank and of no other person. If the Bank becomes insolvent or defaults on its obligations under the margin FX trades, you can only claim as the Bank’s unsecured creditor. In the worst case scenario, you may lose your entire investment irrespective of the performance of the FX price and the terms of the margin FX trading services.

Fee

Fee occurred will be reflected in the exchange rate or interest rate.

Early termination risk by us

We may terminate your account upon notice if an event of default on your part occurs. In such scenario, all outstanding positions will be closed out at such price as determined by us in our good faith based on the prevailing circumstances, and you may suffer a loss which may be substantial or unlimited.

Risk relating to our hedging activities

We may enter into hedging transactions, which typically involve the establishment of long and/or short positions in FX, with our respective hedging counterparties in the market. It is possible that these activities could adversely affect the prevailing market price of FX if the size of hedging transaction is substantial. As such FX buying or selling price for margin FX trading calculated with reference to the prevailing market price of FX will be affected as well. The value of your positions in your margin trading account may move up and down.

Set-off and lien

We have the right to combine or consolidate any balances standing to the credit of your margin trading account to set-off against any indebtedness owed by you to us. Under the terms

Conflicts of interest

Potential and actual conflicts of interest may arise from the different roles played by us and our subsidiaries and affiliates in connection with the margin FX / precious metal trading, and our economic interests in each role may be adverse to your interest in the margin FX / precious metal trading.

Force majeure events

We are not liable for any failure or delay to meet its obligations due to any causes beyond our control which shall include local or international happenings such as Acts of God, Government act, flood, fire, civil commotion, strike, war or any other causes beyond the reasonable control of us, mechanical failure, power failure, malfunction, breakdown, interruption or inadequacy of equipment or installation or other cause which results or is likely to result in the erratic behavior of FX / precious metal prices, the closure of the markets or exchanges of FX / precious metal or any other cause affecting the operation of your margin trading account.

You should read and understand the terms and conditions for margin trading services and the information available for such services before you trade in any Margin FX / precious metal trading

To borrow or not to borrow ? Borrow only if you can repay !

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