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Contract reading

What MTF legally published, but does not want you to read

Every clause below is published by MTF itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: MING TAK INTERNATIONAL DEVELOPMENT LTD

sole discretionhidden feewithdrawalscounterparty identitydeemed acceptanceforced liquidationlanguage arbitragemargin callprofit voidingtrade cancellation

MTF's contract treats two trades in five minutes on one product as banned high frequency trading, and lets MTF cancel them. Its own reward scheme asks you to make three such trades. Object to a change in the terms and MTF closes your account within seven days. Three different company names appear across the documents, so you cannot tell which company holds your money.

Back to MTF

Contract risk

Money at risk
7.4/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
5
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
18
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
10
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
7

How the 18 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical5
Warning12
Notice1

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

4 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical2Profit at risk. Jump to the clause this comes from.Two trades in five minutes counts as banned high frequency tradingCritical$100Bonus requirement. Jump to the clause this comes from.The USD 100 reward requires the trading MTF bansCritical7 daysAccount limit. Jump to the clause this comes from.Object to a change in the terms and MTF closes your accountCritical3In the contract. Jump to the clause this comes from.Three company names across one document set

What the documents say

18 clauses worth knowing about, worst first, each quoted from MTF's own files

01

Place a second trade on gold within five minutes of your first and MTF can cancel it. Clause 11.2 calls more than one trade in five minutes on the same product high frequency trading, and bans it. MTF decides, and no test or appeal is written down.

Why this matters

Adjusting a position twice in five minutes is ordinary trading, and it puts the profit on that trade at MTF's discretion. Clause 7 says you can never reverse a trade of your own, so the power runs one way.

Exhibit 1CriticalRarely seen2

The Company shall treat more than one transaction in a single CFD made within five minutes on the Online Platform as high-frequency trading, which is prohibited.
Clause 11.2 in User agreement
Read from the broker's site on Open the reference
Our own capture of mingtakfn.com, taken on Sep 5, 2026Two trades in five minutes counts as banned high frequency trading (clause 11.2)Visit this page on the broker's siteDownload the full size image file

What it costsBuy gold at 10:00 and buy again at 10:04, and both sit inside the five minute window. MTF can cancel them.

Our readingMarket abuse clauses normally target latency arbitrage or price manipulation and describe the conduct. A flat two trades in five minutes catches any trader who scales into a position or closes early, with no reference to abuse at all.

  • Worse together with Exhibit 2MTF's own USD 100 reward asks for three XAUUSD round trips, which is the trading clause 11.2 bans.
  • Worse together with Exhibit 14MTF can cancel your trade while the contract never says who was on the other side of it.
02

To collect the USD 100 reward you must complete at least three XAUUSD round trips in one month, holding each position 120 seconds or more. Clause 11.2 of MTF's User Agreement bans more than one trade in five minutes on one product.

Why this matters

You do the trading MTF asked for, and the same firm can cancel those trades under a rule the reward page never mentions. Miss the conditions instead and clause 7.3 says you get nothing.

Exhibit 2CriticalRarely seen$100

Each position must be held for 120 seconds or more (≥120 sec). Transactions closed via "Close By" or held for less than 120 seconds are not counted.
Clause 7.2 in Ming Tak "Gold Goal Plan" Terms and Conditions
Read from the broker's site on Open the reference
Our own capture of mingtakfn.com, taken on Sep 5, 2026The USD 100 reward requires the trading MTF bans (clause 7.2)Visit this page on the broker's siteDownload the full size image file

What it costsThree round trips totalling one lot of XAUUSD is 100 ounces of gold traded to earn USD 100.

Our readingBonus conditions usually demand volume a client is unlikely to reach. Here the conditions ask for conduct another document from the same firm defines as prohibited and cancellable, so meeting them and breaching the contract are the same act.

03

MTF can change the User Agreement whenever it likes. Say nothing for seven days and clause 15.2 counts your silence as agreement. Write in to object inside those seven days and the same clause closes your account immediately.

Why this matters

You have two choices and MTF wrote both: accept whatever it changes, or lose the account. The seven days run from the date of the notice, not from the day you read it.

Exhibit 3CriticalRarely seen7 days

If you do not agree with the intended amendment, you must notify the Company in writing within seven days from the date of the notice.
Clause 15.2 in User agreement
Read from the broker's site on Open the reference
Our own capture of mingtakfn.com, taken on Sep 5, 2026Object to a change in the terms and MTF closes your account (clause 15.2)Visit this page on the broker's siteDownload the full size image file

Our readingDeemed acceptance after a notice period is common. Making immediate termination the consequence of objecting is not, because it removes any way to disagree and keep trading.

04

You cannot tell from MTF's documents which company you are contracting with. Three names appear: the English User Agreement letterhead says MING TAK INTERNATIONAL DEVELOPMENT LTD, its first paragraph says Ming Tak Development International Limited, and the Chinese version names Ming Tak International Ying Fu Limited instead.

Why this matters

A claim has to be brought against a named company, and your deposit sits with one of them. The product terms make it harder still: they name only Ming Tak MTF, which has no company form.

Exhibit 4CriticalRarely seen3

MING TAK INTERNATIONAL DEVELOPMENT LTD
Quoted in User agreement, letterhead
Read from the broker's site on Open the reference
Our own capture of mingtakfn.com, taken on Sep 5, 2026Three company names across one document setVisit this page on the broker's siteDownload the full size image file

Our readingBrokers commonly run several entities and say which one a retail client gets. Here the two language versions of a single agreement name different companies, and the product terms name a brand, so no document settles it.

  • Worse together with Exhibit 13You must name a company to start arbitration, and the contract offers three names in proceedings held in English.
05

Clause 29 says you must pay MTF the shortfall if your deposit does not cover the full loss when positions are closed out. MTF closes them automatically once your margin level reaches 10%, and it can do that without telling you first.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

Your loss is not capped at the money you put in. If gold gaps against you, MTF can close everything, then send you a bill for the rest.

Exhibit 5CriticalStandard wording10%

you will be liable to make further payments to the Company in the event that your deposits do not cover the full loss accruing to your Account upon closing out.
Clause 29 in User agreement
Read from the broker's site on Open the reference
Our own capture of mingtakfn.com, taken on Sep 5, 2026You can owe MTF more than you deposited (clause 29)Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), ASIC (Australia), ESMA (EU)

Firms licensed by the FCA, ASIC or under ESMA rules must give retail clients negative balance protection, so a client can never lose more than the money in the account. This contract says the opposite: you pay MTF the difference.

MTF is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 6You get one hour to send more money, and you owe the shortfall if you cannot.

What MTF's pages promise and its clauses withhold

MTF's home page promises no forced margin top-up, and clause 6 gives you one hour to meet a demand for one. Its physical gold page sells switching between metal and contracts in both directions, and clause 8.4 says the conversion is irreversible. Both claims sit on pages a client reads before the contract.

Page against contract2 clauses flagged

MTF's home page promises no forced margin top-up. Clause 6 gives you one hour from the moment a demand is sent to your email to pay, or MTF can cancel your trades and claim its losses from you.

Why this matters

The hour starts when MTF sends the email, not when you open it. Sleep through it, and the trades can be cancelled and the loss charged to you.

Exhibit 6WarningHarder than usual

You must deposit the sum of money requested by the Company within one hour from the notice of request sent to your email address, failing which the Company may cancel any transaction made and claim loss and damage sustained by the Company in accordance with the provision of this Agreement from you.
Clause 6 in User agreement
Read from the broker's site on Open the reference

MTF's physical gold page sells switching between metal and contracts as a two way feature. Clause 8.4 says the conversion cannot be undone, and what you hold afterwards is a leveraged contract, not gold.

Why this matters

Turn your gold into a contract and you cannot turn it back. You move from owning metal to holding a position that can be closed out against you.

Exhibit 10WarningHarder than usual

This conversion is irreversible. The converted assets are CFD contracts and will be subject to all risks associated with leveraged trading.
Clause 8.4 in Ming Tak MTF Physical Gold Business Terms and Conditions
Read from the broker's site on Open the reference

Commission free for life, with the fee list left open

MTF advertises zero commission for life, and clause 9 lets it charge, revise or update fees at any time at its own discretion. Gold and silver carry overnight interest whose rate appears only in the trading platform. The fee to sell physical gold back to MTF is listed as quoted at the time, on the same page that promises no hidden fees.

Cost disclosure2 clauses flagged

MTF advertises no commission for life and zero handling fees. Clause 9 lets MTF charge, revise or update fees at any time at its own discretion, and your only stated remedy is to stop using the platform.

Why this matters

A new fee can appear as a notice on MTF's website, and using your account afterwards is how you accept it. Gold and silver already carry overnight interest whose rate lives in the trading platform, not in the contract.

Exhibit 8WarningHarder than usual

The Company has the right to charge, revise or update the such fees at any time at the Company’s sole discretion.
Clause 9 in User agreement
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must disclose costs and charges to a retail client before that client trades. This contract keeps the right to set fees later and points you to the platform for the overnight rate.

MTF is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Selling your physical gold back to MTF is the only exit the contract offers, and its fee is listed as "as quoted at the time". No amount, no cap, no method for working it out. Three lines below, the same table promises no hidden fees.

Why this matters

You find out what it costs to sell only when you ask to sell. MTF sets that number after you already own the metal.

Exhibit 9WarningHarder than usual

Buyback Fee As quoted at the time When applying for buyback
Clause 10 in Ming Tak MTF Physical Gold Business Terms and Conditions
Read from the broker's site on Open the reference
Our own capture of mingtakfn.com, taken on Sep 5, 2026The claim, on Core promise section, Chinese physical gold product pageVisit this page on the broker's siteDownload the full size image file
Our own capture of mingtakfn.com, taken on Sep 5, 2026What the contract says, clause 10Visit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must disclose costs and charges to a retail client before that client commits. This schedule leaves the exit fee to be quoted at the moment you want out.

MTF is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

MTF's contract never mentions withdrawals

None of MTF's three contracts contains a withdrawal clause: no deadline, no process, no grounds for refusal. The only published description is a help page saying the timing depends on the bank, against a home page promising five minutes. Closing a Gold Goal Plan position costs a flat HKD 250, whether you close all of it or part.

Getting money out2 clauses flagged

Every time you close a Gold Goal Plan position MTF charges a flat HKD 250, and clause 4.4 charges the same for a partial close as for a full one. The plan's minimum purchase is 0.01 troy ounce.

Why this matters

Taking your money out in two goes costs HKD 500. MTF's own page invites people saving under HK$500 a month, and one exit takes half of a month like that.

Exhibit 11WarningHarder than usual$250

Settlement Fee: A flat HKD 250 Settlement Fee is charged for each position closing operation (whether full or partial).
Clause 4.4 in Ming Tak "Gold Goal Plan" Terms and Conditions
Read from the broker's site on Open the reference

What it costsClose half your holding now and the rest next month, and the flat HKD 250 applies twice, so HKD 500 to exit a plan you could have exited once for HKD 250.

MTF's User Agreement says nothing about getting your money out. No deadline, no process, no grounds for refusal, no fee. The only published description is a help page saying the timing depends on the bank.

Why this matters

Nothing you agreed to obliges MTF to pay you by any date. You request a withdrawal by email, and the contract gives you nothing to hold MTF to.

Exhibit 12WarningHarder than usual

有關提款實質到帳時間取決於銀行處理時間，如若需緊急提款，請儘量於每日下午2點前提出申請。
Clause A5 in 賬戶出入金問題
Read from the broker's site on Open the reference

Every dispute goes to arbitration conducted in English

Clause 21 sends any dispute with MTF to a single arbitrator at the Hong Kong International Arbitration Centre, with proceedings in English, and the award is final. Clause 20 says the Hong Kong courts have exclusive jurisdiction, so the two clauses point different ways. No complaints procedure appears in any of the three documents.

Complaint route1 clause flagged

MTF sells and contracts in Chinese, then sends every dispute to arbitration at the Hong Kong International Arbitration Centre, with proceedings conducted in English. Clause 20 says the Hong Kong courts have exclusive jurisdiction, so the contract points two ways at once.

Why this matters

You pay an arbitrator to hear your claim, in a language MTF chose and its Chinese pages never used. The award is final, so there is no appeal on the facts.

Exhibit 13WarningHarder than usual

The arbitration proceedings shall be conducted in English. The arbitration award shall be final and binding upon the Company and you and may be enforced by any court of competent jurisdiction.
Clause 21 in User agreement
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must give retail clients access to an independent complaints scheme that is free to the client. This contract routes a dispute to arbitration the client helps pay for, and names no complaints procedure at all.

MTF is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Three company names and an English version that overrides the Chinese

MTF's documents name three different companies, and the product terms name only a brand. Clause 23 makes the English User Agreement prevail, while the Chinese version Hong Kong clients are sent to is missing text from its account suspension clause. You cannot tell from the paperwork which company holds your deposit.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Counterparty identity1 clause flagged

Clause 23 says the English version wins wherever the two disagree. The Chinese version Hong Kong clients are sent to is missing text: its account suspension clause skips a limb, mislabels the next one, and stops in the middle of a sentence.

Why this matters

You are bound by wording you were never shown in your own language. The English clause 6 also adds a term the Chinese version leaves out: MTF pays no interest on your deposit.

Exhibit 7WarningRarely seen

In case of any inconsistency of the contents between the English version and the Chinese version of this Agreement, the English version shall prevail.
Clause 23 in User agreement
Read from the broker's site on Open the reference

Our readingA prevailing language clause is ordinary in cross-border contracts. It is unusual for the version that does not prevail to be the one a firm's own clients are sent to, and for that version to be missing operative text.

The Chinese privacy clause names the wrong organisation

MTF's Chinese User Agreement says client data may go to the Jockey Club's agents, contractors and suppliers. The English version of clause 30.4 says the Company's agents. Clause 30.1 lets MTF collect your identity card number, passport number and bank account details.

Data sharing1 clause flagged

The Chinese User Agreement says your bank details and trading records may go to the Jockey Club's agents, contractors and suppliers. The English version of the same clause says the Company's agents. MTF has nothing to do with the Jockey Club.

Why this matters

Clause 30.1 lets MTF collect your Hong Kong identity card number, passport number and bank account details. The clause that says where they go names the wrong organisation in the version you were sent to.

Exhibit 16WarningRarely seen

就本公司業務運作向本公司提供行政、營銷及研究、分銷、資料處理、電話營銷、電訊、電腦、付款或其他服務的馬會的代理人、承包商、供應商及任何第三方服務供應商
Clause 30.4(c) in 使用者協議
Read from the broker's site on Open the reference

Our readingPrivacy clauses are copied between firms routinely, but the name of the original organisation is normally removed. Here it survives in the operative list of who may receive a client's data.

MTF's contract declines to name your counterparty

Clause 1 has you agree that the contracts you buy are not offered by any financial institution, corporation, MTF or its platform. No clause anywhere says who is on the other side of your trade. Clause 28 adds that MTF does not guarantee the accuracy of the prices it shows you.

Who you trade against1 clause flagged

Clause 1 has you agree the contracts you buy are not offered by any financial institution, corporation, MTF itself or the platform. Nothing anywhere names your counterparty, and clause 28 says MTF does not guarantee the prices it shows you.

Why this matters

You cannot tell whether MTF profits when you lose. If the price that closed your position was wrong, clause 28 says the loss is yours.

Exhibit 14WarningHarder than usual

You fully understand the nature of CFD such as but not limited to that CFD are high-risk investment and CFD are not offered by any financial institution, corporation, the Company or the Online Platform.
Clause 1 in User agreement
Read from the broker's site on Open the reference

Three quiet months and MTF sells your gold for you

A month with no purchase adds HK$50 to what you owe MTF on the Gold Goal Plan. At HK$100 the account can be frozen to closing trades only. After 90 days with no trade MTF sells everything at the opening price on the second Monday of the next month, waives the HK$150 debt, and keeps the HKD 250 closing fee.

In plain words

Dormancy means an account left unused.

Dormancy ladder1 clause flagged

A calendar month with no purchase adds an HK$50 debt to your Gold Goal Plan. At HK$100 owed MTF can freeze the account, and after three months with no trade it sells everything at the opening price on the second Monday of the next month.

Why this matters

You do not choose the day or the price your gold is sold at. MTF waives the HK$150 you owe and pays the rest back, but still takes the HKD 250 closing fee.

Exhibit 15WarningHarder than usual$50

Minimum Monthly Trading Requirement: It is recommended that clients purchase at least 0.01 troy ounce per month. If there are no purchase transactions in any calendar month, an HKD 50 administrative fee will be recorded as an overdue payable.
Clause 5.1 in Ming Tak "Gold Goal Plan" Terms and Conditions
Read from the broker's site on Open the reference
Our own capture of mingtakfn.com, taken on Sep 5, 2026The claim, on Why choose Gold Goal Plan, contribute as you wish, Chinese plan pageVisit this page on the broker's siteDownload the full size image file
Our own capture of mingtakfn.com, taken on Sep 5, 2026What the contract says, clause 5.1Visit this page on the broker's siteDownload the full size image file

What it costsThree months with no purchase builds HK$150 of debt at HK$50 a month. MTF waives that HK$150 and charges HKD 250 to close.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
A calendar month with no purchaseMTF records an HK$50 admin fee as a debt on your account.5.1
First 7 days of the next monthBuy 0.01 troy ounce in this window and MTF waives last month's fee.5.2
Debt reaches HK$100MTF gives notice. Pay within 14 days or it freezes the account to closing trades only.5.3
90 days with no trade and HK$150 owedMTF sells all your gold at the opening price on the second Monday of the next month and charges HKD 250.5.4
  • Same clause as Exhibit 11The same HKD 250 closing fee applies whether you choose to exit or MTF sells you out.

Segregation is promised on the page, not in the contract

MTF advertises that client funds are held apart from its operating funds, and clause 6 tells you to pay your deposit into the Company's bank account. No segregation clause and no trust account appears in any of the three contracts. MTF holds an exchange membership and a customs dealer registration, and names no compensation scheme.

Client money1 clause flagged

MTF advertises that client money is held apart from its operating money. Clause 6 says you pay your deposit into the Company's bank account, and none of the three contracts contains a segregation clause or names a trust account.

Why this matters

The promise a reader relies on sits on a marketing page, not in anything they signed. No compensation scheme is named in any of the three documents.

Exhibit 17WarningHarder than usual

The Company may from time to time request you to deposit a certain sum of money into the Company’s bank account as security for your trading and/or margin purposes on the Online Platform.
Clause 6 in User agreement
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), ASIC (Australia), CySEC (Cyprus)

Firms licensed by the FCA, ASIC or CySEC must hold retail client money in segregated trust accounts, separate from the firm's own funds, and say so in the client agreement. This contract names only the Company's bank account.

MTF is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Disagree with MTF and the account closes

Clause 15.2 gives you seven days to object to a change in MTF's terms, and closes your account immediately if you do. Silence counts as agreement. Clause 29 makes you liable for any shortfall after MTF closes your positions at a 10% margin level, and it can do that without notice.

Exit conditions1 clause flagged

The account form on MTF's home page asks you to tick that you have read the terms. Two of its three links, for the physical gold terms and the Gold Goal Plan terms, send you back to the home page instead of the document.

Why this matters

You confirm you read two contracts that link cannot reach. The same documents do open from MTF's product pages, so the wording exists and the route from the form does not.

Exhibit 18NoticeRarely seen

已閱讀、同意條款並提交申請
Quoted in MTF明德金融 香港AA類金銀業貿易場行員, account opening form
Read from the broker's site on Open the reference

Our readingTerms are often buried in footers or long files. A link inside the consent tick that returns the visitor to the home page removes the document from the one place a client is asked to confirm they read it.

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

MTF promises no fees for life on the page, and keeps the right to introduce fees whenever it likes in the contract.

Said in public, in Chinese

一世免佣，零手續費

Word for word in English: Commission free for life, zero handling fees

Reasons to choose MTF, Chinese home page

In the contract · clause 9

The Company has the right to charge, revise or update the such fees at any time at the Company’s sole discretion.

02

The page says there is no forced margin top-up, and the contract gives you one hour to meet a demand for one.

Said in public, in Chinese

無交易授權，無強制補倉，固定點差

Word for word in English: No trading authorisation, no forced margin top-up, fixed spread

Reasons to choose MTF, headed we do not play tricks, Chinese home page

In the contract · clause 6

You must deposit the sum of money requested by the Company within one hour from the notice of request sent to your email address, failing which the Company may cancel any transaction made and claim loss and damage sustained by the Company in accordance with the provision of this Agreement from you.

03

The table promises separate custody of client money, and the contract sends your deposit to the Company's own bank account.

Said in public, in Chinese

客戶資金與經營資金獨立託管

Word for word in English: Client funds and operating funds are held separately in custody

Competitive advantages comparison table, fund safety row, Chinese home page

In the contract · clause 6

The Company may from time to time request you to deposit a certain sum of money into the Company’s bank account as security for your trading and/or margin purposes on the Online Platform.

04

The home page promises withdrawals in as little as five minutes, and MTF's own help page commits to no time at all.

Said in public, in Chinese

即日到帳，最快可達 5 分鐘

Word for word in English: Same day arrival, as fast as 5 minutes

Competitive advantages comparison table, deposit and withdrawal speed row, Chinese home page

In the contract · clause A5

有關提款實質到帳時間取決於銀行處理時間，如若需緊急提款，請儘量於每日下午2點前提出申請。

05

The product page promises no hidden handling fees, and the fee schedule sets the buyback handling fee only when you ask to sell.

Said in public, in Chinese

即時報價，無隱藏手續費。誠信比誇大更重要。

Word for word in English: Real-time quotes, no hidden handling fees. Integrity matters more than exaggeration.

Core promise section, Chinese physical gold product page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of mingtakfn.com

In the contract · clause 10

Buyback Fee As quoted at the time When applying for buyback

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of mingtakfn.com

06

The page sells switching in both directions, and the contract says the conversion cannot be undone.

Said in public, in Chinese

實金 ⇄ 合約 無縫切換

Word for word in English: Physical gold ⇄ contract, switching with no break

Why choose MTF physical gold, Chinese physical gold product page

In the contract · clause 8.4

This conversion is irreversible. The converted assets are CFD contracts and will be subject to all risks associated with leveraged trading.

07

The page says contributions carry no pressure at all, and the terms charge HK$50 for any month you do not buy.

Said in public, in Chinese

0.01 安士起，供款金額由客戶自行決定，完全自主，無任何壓力。

Word for word in English: From 0.01 troy ounce, the contribution amount is decided by the client, entirely up to you, with no pressure at all.

Why choose Gold Goal Plan, contribute as you wish, Chinese plan page

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of mingtakfn.com

In the contract · clause 5.1

Minimum Monthly Trading Requirement: It is recommended that clients purchase at least 0.01 troy ounce per month. If there are no purchase transactions in any calendar month, an HKD 50 administrative fee will be recorded as an overdue payable.

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of mingtakfn.com

The documents this reading is based on

10 files, all published by MTF. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording MTF publishes.

How this reading was done

Every clause above was read out of a document MTF publishes itself

This reading was published on .

Documents
8 of 10downloaded from the broker's site, and 8 read in full
Pages opened
30pages walked to find those documents, footer links included
Marketing pages
1public pages set against what the contract says
Languages
EN vs ZH-HANTthe language it advertises in, against the language it contracts in

Who the contract is with

MING TAK INTERNATIONAL DEVELOPMENT LTD

Three company names appear across MTF's own documents. The English User Agreement is headed MING TAK INTERNATIONAL DEVELOPMENT LTD, while its opening paragraph names Ming Tak Development International Limited. The Chinese version of that same agreement names a third company, Ming Tak International Ying Fu Limited, in both its letterhead and its opening paragraph. The physical gold and Gold Goal Plan terms name only Ming Tak MTF, a brand with no company form. MTF's about page says it is an AA class member of the Hong Kong gold exchange, member number 194, and holds a Hong Kong Customs precious metals dealer A licence, registration A-B-23-07-00744. Neither is a securities licence, and none of the three contracts names a compensation scheme or a complaints procedure.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

MTF puts the HKD 250 closing fee and the HK$50 monthly fee in the Gold Goal Plan's headline figures, not just in the small print. Most brokers bury what it costs to get out. The forced sale in clause 5.4 waives the HK$150 you owe and pays the rest back into your account. Clause 8.2 only closes a dormant account when the balance is nil, so no money is absorbed. MTF bans any broker or third party from trading your account and says it will never pass on your password. All three documents are published in Chinese and in English, and two carry a version number and a date.

Two of the three addresses MTF publishes for its terms send a visitor to the home page instead of the document. We read all three documents at the addresses MTF's own account page uses, in Chinese and in English, and every quotation here comes from those pages. No earlier copy of any of the three exists to compare against, so this is a first reading. We did not read the separate terms for MTF's promotional game.

How to check any of this yourself

Every quote above links to the MTF file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document MTF publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge MTF on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Sep 5, 2026.

If you represent MTF and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on MTF. Whether its licence is real and current is a separate check on the broker profile.

Back to the MTF profile