FAQ
When is HNZ foreign exchange trading hour?
Beijing Time from Monday 5am to Saturday 5am (Summer Time) or Saturday 6am (Winter Time). 24 hours trading. Please refer to the ‘Trading Hours’
What kinds of trading method is HNZ providing?
Electronic platform: Customers can download a trading platform from our website and then install it and enter the account number and password. After you login the platform, you can do transaction. Afterwards, the company will send you the confirmation and statement for customer confirmation.
What quotation types is HNZ providing?
Our company adopts two-way prices quotations. The buying price is the price that the bank or dealer willing to buy a certain amount of foreign currency at this price from customers. On the other hand, the selling price is the price that bank or dealer willing to sell a certain amount of foreign currency at this price to the customers.
| Direct Quotation | Refers to the domestic currency denominated expressed per unit of foreign currency values. For example: USD / JPY exchange rate of 113.70, that 1USD is equal to 113.70 yen. |
| Indirect Quotation | Refers to the foreign currency denominated expressed by the value per unit of domestic currency. For example: GBP / USD exchange rate of 1.6560, that one pound equals 1.6560 U.S.D. British Pound (GBP), Australian dollars (AUD), Euro (EUR), New Zealand Dollar (NZD) are quoted by this method. |
How many currency pairs to trade in HNZ?
The currency pairs to trade in HNZ are as follows:
| 澳元兌美元 | AUDUSD | 歐羅兌日圓 | EURJPY |
| 美元兌加元 | USDCAD | 歐羅兌瑞士法郎 | EURCHF |
| 美元兌瑞士法郎 | USDCHF | 澳元兌日圓 | AUDJPY |
| 美元兌日圓 | USDJPY | 新西蘭元兌日圓 | NZDJPY |
| 歐羅兌美元 | EURUSD | 瑞士法郎兌日圓 | CHFJPY |
| 英鎊兌美元 | GBPUSD | 英鎊兌日圓 | GBPJPY |
| 新西蘭元兌美元 | NZDUSD | 英鎊兌瑞士法郎 | GBPCHF |
| 歐羅兌英鎊 | EURGBP |
What order types does HNZ provide?
When Investors do not intent to do market order, they can entrust HNZ to place order with specified value. The following are the major types of pending orders:
Preset Order
| Limit Order | Order can be set and will be executed when the market price becomes in favor to the customer as set. For example, a client set 110.00 as the price of limit order to buy USD/JPY, the trade will be executed when the market price is equal or lower than 110.00. On the order hand, the client set 110.00 as the price of limit order to sell USD/ JPY, the trade will be executed when the market price is equal or higher than 110.00. |
| Stop Loss Order | The buy order will be executed when the market price is equal to or higher than the stop loss price or the sell order will be execute when the market price is equal to or lower than the stop loss price. For example, a customer made a stop loss order at 110.00 to buy USD/JPY, the trade would be executed at 110.00 or above 110.00; or the client set the stop loss order to sell USD/JPY at 110.00, the trade would be executed at 110.00 or below 110.00. |
| One-Cancel-the-Other; OCO | In a set of OCO order, if one of the orders is executed, another order will be canceled automatically. For example, Customer has a position of USD at 110.00yen, and then set OCO pending order of selling USD at 105.00 for stop lose and sell USD at 120.00 to take profit. When either order is executed then the other one will be canceled automatically. |
Time limitation
| Good Till Cancel; GTC | The limit order is active until it is canceled by customer. |
| Good Till Friday; GTF | The order remains active before New York market closed. and after that the order will be canceled automatically. |
| Day Order | Day order would only be active on the trading day, during which the order is set, until the day-end time. After the day-end time, the order will be canceled automatically. |
What are the general operational strategies of foreign exchange?
| Fundamental Analysis | In general, fundamental analysis includes the analysis and prediction of inflation rate, economic growth rate, employment rate, retail sales, balance of payments, Climate Index/Prosperity index, industrial production, and government fiscal and monetary policy etc. Fundamental analysis helps in medium and long term investment. It also helps in short term investment by following the trend. |
| Technical analysis | Technical analysis analyses the path of price movement, trend, patterns, wave mode, and other trading volatility sentiment indicators calculated by mathematics or geometry. It is a technique of deducing the direction and magnitude of price movement. Technical analysis is important for decision making, particularly, when market news or information is insufficient. |
What is the regulation of HNZ?
HNZ is regulated by New Zealand local law. In addition, HNZ has developed its own stringent internal and external supervision policy.
Internal control department monitors various departments non-stop. The company also appoints external auditors and legal advisers from internationally renowned accounting firms and law firms. The independent auditors and legal advisers provide professional advice for internal operations.
In order to secure the benefit of customers, HNZ also established customer relationship manager to meet customers actively for understanding the customers. They could also handle initial customer disputes. If clients are not satisfied, customers can request HNZ’s qualified, internal audit and risk management directors for re-examination.
What is the FSP (Financial Service Provider) of New Zealand stand for?
To increase the transparency of financial services field and implement better market supervision in finance industry, New Zealand government have made the new registration system of Financial Service Providers (‘FSPs’) became compulsory on December 1, 2010. The new legislative scheme is comprised with two major statutes:
A.Financial Advisers Act 2008 (‘FAA’); and；and
B.The Financial Service Providers (Registration and Dispute Resolution) Act 2008 (‘FSPA’).
The new law required all Financial Service Providers (‘FSPs’) in New Zealand had to be registered on the Financial Service Providers Register (‘FSPR’) electronic system to legally provide their services. Otherwise, the company providing financial (or similarly) services with no authorized FSP number would face a serious fine as much as NZD300,000.- and the directors of the company should liable for any related consequences.
The compulsory registers included: The banking industry, Payment mechanism including online payment system, Forex currency dealers and Insurance companies…etc.
Note: The above information is subjected to the basic contents of HNZ’s reliable source and edited by HNZ, not the original legal contents. If those who access this webpage do so on their own initiative would like to read the original contents of the Acts, or get more ideas about the FSPs, please visit the website of New Zealand government or http://www.business.govt.nz. This release and the links access to other site do not constitute any invitation or recruitment of business.
