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China notified prevented brokerage firms from accepting mainland customers

China notified prevented brokerage firms from accepting mainland customers

Brokerages from China that have licenses outside the country faced the latest uncertainty in regulation. Financial officials noticed that these companies work illegally.

It is important to note that a number of Chinese services are working, have foreign documents, licenses and supply Chinese customers with tools and solutions. These brokers mostly provide financial services with Hong Kong or US-listed stocks to investors and traders in China.

In addition, many foreign trading firms take users from mainland China without having any local license.

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