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Contract reading

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

Every clause below is published by Prestige 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: Prestige International Bullion Limited

sole discretionmarketing contradictionhidden feewithdrawalsconclusive evidencedeemed acceptanceforum waiverkyc freezeliability waivermargin

Prestige advertises 100% negative balance protection. Its client agreement says you stay liable for any shortfall, and charges 2% a month on it. Hold half your volume for under 10 minutes and Prestige can rule your account abnormal, take all your profit and 10% of everything you deposited. The signup bonus needs up to 600 closed lots before you can withdraw it.

Back to Prestige

Contract risk

Money at risk
8.5/10

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.
7
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.
8

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.

Critical7
Warning11
Notice0

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.

Critical2%In the contract. Jump to the clause this comes from.Negative balance protection promised, denied in the contractCritical10%Profit at risk. Jump to the clause this comes from.All profit taken plus 10% of deposits for abnormal tradingCritical600Bonus requirement. Jump to the clause this comes from.Signup bonus needs up to 600 lots before withdrawalCritical5%Fee you were not shown. Jump to the clause this comes from.5% fee on every online deposit unless you trade it off

What the documents say

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

01

Prestige's promotions page promises you 100% negative balance protection. The risk disclosure you sign says the opposite: if your account goes below zero, you still owe the shortfall. Clause 22 then charges you 2% a month on it.

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

A gap in the gold price can leave your account owing Prestige more than you ever paid in. You would be chasing a debt, not just losing a deposit, and the interest runs at 2% every month until you clear it.

Exhibit 1CriticalHarder than usual2%

Moreover, you will remain liable for any resulting deficit in your account and interest charged on your account.
Clause Risk Disclosure Statement, 1 in 客戶協議書 (貴金屬買賣條款 / Standard Terms and Conditions of Precious Metal Trading), p.31
Downloaded from the broker's site on Open the reference

What it costsAn account left owing $5,000 after a gap grows by $100 in the first month. Six months of the same interest adds $600 to the debt.

Set against a regulated standard: FCA (UK), CySEC (Cyprus), ASIC (Australia), ESMA (EU)

Firms licensed by the FCA, CySEC and ASIC must give retail clients negative balance protection, so a retail account cannot go below zero and the client cannot be pursued for the shortfall. This contract says you remain liable for the deficit and charges 2% a month on it.

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

  • Worse together with Exhibit 12The statement showing the shortfall becomes conclusive after 2 days, so the debt is settled before most people have queried it.
02

If half your trades are held under 10 minutes, Prestige can class your account as abnormal trading. A profitable account then loses every cent of profit and a further 10% of everything you deposited. An account already down 15% or more is left alone and paid out in full.

Why this matters

Short term trading in gold is ordinary, and here it is a trigger. Prestige freezes the account with no money in or out, stretches the review to 30 days, and keeps the right of final interpretation over what counts.

Exhibit 2CriticalRarely seen10%

疑似異常交易的交易單中有 50%交易量的持倉時間低於 10 分鐘，此帳戶即被定義為異常交易。
Clause 異常交易的定義 2 in 客戶協議書 (貴金屬買賣條款 / Standard Terms and Conditions of Precious Metal Trading), p.11
Downloaded from the broker's site on Open the reference

What it costsA $10,000 account judged abnormal with $3,000 of profit pays back the $3,000 and a further $1,000, which is 10% of the deposit. It leaves with $9,000 after making money.

Our readingThe penalty runs one way only. A trader who lost 15% or more is untouched, and a trader who made money loses all of it plus a slice of the principal. Most abusive trading clauses reverse the specific trades complained of. This one is priced against the outcome rather than against the conduct, and holding a position for nine minutes is enough to open the door.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
50% of volume under 10 minutesThe account is defined as abnormal trading, frozen and reviewed.異常交易的定義 2
Account frozenNo money in or out and no trading until the review ends, which can run to 30 days.異常交易的定義 2
Account is in profitAll profit is deducted and 10% of the deposited amount is charged as a cost fee.異常交易的處理方法 3
Loss under 15%10% of the deposited amount is charged, then the balance is released.異常交易的處理方法 2
Loss of 15% or moreNothing is charged and the balance is released to the client.異常交易的處理方法 1
  • Worse together with Exhibit 13Prestige sets the price at which anything is closed out and the agreement says you cannot challenge the figure, so the size of the deduction is not open to argument either.
03

Prestige gives you a bonus of up to $6,000 for a first deposit, then holds it as credit until you close enough lots. The top tier asks for 600 closed lots. On the $1,000 tier it is 50 lots to release $400.

Why this matters

One lot is 100 ounces of gold, so 50 lots means trading 5,000 ounces. At the 0.18 spread Prestige advertises, that costs you $900 in spread to unlock $400. Every tier in the table costs more to clear than the bonus pays.

Exhibit 3CriticalHarder than usual600

首次存款 首存赠金 开户48小时内激活赠金 总赠金 提现所需手数
Clause 活动细则, 专业进阶 in 新客福利活动细则 (New Customer Bonus, activity rules)
Read from the broker's site on Open the reference
Our own capture of prestigegroup.com.hk, taken on Sep 3, 2026Signup bonus needs up to 600 lots before withdrawal (clause 活动细则, 专业进阶)Visit this page on the broker's siteDownload the full size image file

What it costsThe $1,000 tier pays $400 and asks for 50 lots. That is 5,000 ounces at $0.18 of spread, which is $900 of trading cost for a $400 bonus.

  • Worse together with Exhibit 6The deposit fee waiver is a second lot requirement on the same money, so the two volume targets stack on one deposit.
04

Every online transfer into Prestige carries a 5% handling fee. Prestige pays it for you only if you close one lot for every $700 deposited before your next withdrawal. Its own deposit page states that threshold as $900.

Why this matters

You cannot know which number binds you, and the gap is real money. On a $10,000 deposit the trading rules ask for 14 closed lots and the deposit page asks for 11, with $500 riding on which one Prestige applies.

Exhibit 6CriticalHarder than usual5%

在线转账交易将收取百分之五手续费；如客户在下一次提款前能累积至足够交易手数，即每700美元注资须完成1手平仓，本公司将代客户承担上述百分之五手续费。
Clause 存取款方式, 存款 (一) 网上快速存款 in 交易产品及细则 (交易须知, simplified Chinese), p.5
Downloaded from the broker's site on Open the reference

What it costsA $10,000 online deposit carries a $500 fee. At the trading rules threshold of $700 a lot you must close 14 lots before withdrawing to avoid it.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must give a retail client the costs and charges of a service before they trade, in a form the client can rely on. Here the same charge is published twice with two different escape thresholds.

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

05

You sign a declaration saying the English version of the Prestige agreement prevails wherever the two disagree. The whole site, the hotline and the sales material are in Chinese. The Chinese and English texts do not match.

Why this matters

The version you can read is not the version that binds you. Where the Chinese gives Hong Kong courts exclusive jurisdiction, the governing English text calls it non-exclusive, and that difference decides where you can be sued.

Exhibit 4CriticalRarely seen

In the event of any inconsistency between the English version of this form, and Client’s Agreement, and Additional Agreement in Client’s Agreement, and the translated equivalent in any other languages. The English version shall prevail, to the extent of any inconsistency.
Clause 7. 聲明及確認 / Declaration and Acknowledgements in 客戶協議書 (貴金屬買賣條款 / Standard Terms and Conditions of Precious Metal Trading), p.29
Downloaded from the broker's site on Open the reference

Our readingA language precedence clause is ordinary in cross border contracts between businesses. Here it points away from the only language the customer was sold in, and the two texts genuinely differ. In clause 15 the Chinese says the rule shall not be read as obliging Prestige to lend, and the English says it shall. One of those is the contract and it is not the one on the page the client reads.

  • Worse together with Exhibit 16The governing English text is also the one that lets Prestige sue you in several countries at once.
06

Prestige can amend, delete or add to the agreement whenever it likes. You get 48 hours to object in writing. If you do object, clause 26 lets Prestige treat that as an event of default by you.

Why this matters

Saying no to a change puts you in default, and default lets Prestige close every open position without notice and sell what it holds of yours. Your only safe answer to a contract change is silence.

Exhibit 5CriticalRarely seen2 days

The Company may at its discretion thereafter amend delete or make any substitution or addition (as the case may be) which shall be deemed to be incorporated herein unless objected to in writing the Customer within 48 hours from such notice and upon receipt by the Company of such written objection the Company shall be entitled to treat the same as an event of default by the Customer having happened.
Clause 26 (English) in 客戶協議書 (貴金屬買賣條款 / Standard Terms and Conditions of Precious Metal Trading), p.19
Downloaded from the broker's site on Open the reference

Our readingUnilateral amendment with silence counted as consent is common. Turning the client's objection into a default event is not. It converts a right to disagree into a trigger for the firm's strongest remedies, so the clause punishes the one response it invites.

  • Worse together with Exhibit 12Notices count as received whether or not they reach you, so the 48 hours can expire before you have seen the change.

Two days to challenge a statement, and no complaints procedure

You get 2 days to object to a Prestige account statement and 5 days to object to a transaction. Both clocks start when a notice is treated as received, which the agreement says happens whether it reaches you or not. Prestige publishes no complaints procedure and names no independent scheme.

Closing the argument1 clause flagged

A Prestige account statement becomes conclusive if you do not object in writing within 2 days. Every transaction is treated as authorised and correct after 5 days. Both clocks start when a notice counts as received, which clause 30 says happens whether it reaches you or not.

Why this matters

A posted notice counts as delivered on the second business day, so a 2 day window can close before the envelope arrives. After that the figures are settled and Prestige publishes no complaints procedure to appeal to.

Exhibit 12CriticalHarder than usual2 days

All contracts between the Company and the Customer and/or all documents recording the same and/or all statement relating to the Customer’s account or accounts with the Company shall be conclusive if not objected to in writing by the Customer directed to the office of the Company within 2 days after the transmission of such documents and/or statements to the Customer by mail or otherwise.
Clause 27 (English) in 客戶協議書 (貴金屬買賣條款 / Standard Terms and Conditions of Precious Metal Trading), p.19
Downloaded 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 run a complaints procedure with published timescales, and retail clients get access to an independent ombudsman afterwards. This document set contains no complaints procedure and names no external scheme.

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

What Prestige advertises and what you sign are different documents

Prestige advertises 100% negative balance protection, and its client agreement says you remain liable for any deficit. Its rules page puts the automatic hedging trigger at 300% while both versions of its own trading rules PDF say 100%. That PDF still carries a 2020 copyright line and has not changed since February 2024, which is why several of its numbers no longer match the live site.

Promise against contract2 clauses flagged

After Friday close and before holidays, Prestige hedges every order in your account if your maintenance margin ratio falls too low. Its trading rules page sets that trigger at 300%. Both versions of its own trading rules PDF set it at 100%.

Why this matters

You cannot work out when Prestige will take over your positions, and the two numbers are three times apart. Whichever applies, the offsetting orders are not unwound when the market reopens, so you come back to a position you did not open.

Exhibit 8WarningHarder than usual

周五收市后或假期前收市后，如帐户出现维持保证金比率不足100%，系统将会给帐户内所有交易单予以对冲，即自动锁仓
Clause 交易比例相关, 锁仓 in 交易产品及细则 (交易须知, simplified Chinese), p.4
Downloaded from the broker's site on Open the reference
  • Worse together with Exhibit 9Your stop losses are cancelled before the same holiday that the automatic hedge is applied, so you return to unfamiliar positions with no protection set.

Prestige sells its gold pricing on a standard spread of 0.18 and calls it the best cost in the industry. Its trading rules give Prestige the right to adjust the spread with no notice to you, and the product table in the same document simply calls the spread floating.

In plain words

Liquidity providers are outside banks and brokers.

Why this matters

The one number the pricing is sold on is the number Prestige can change while you hold a position. Its footnote ties variation to liquidity providers and calls it brief, but the contract sets no such limit.

Exhibit 18WarningHarder than usual

公司有權把買賣差價作出調整及暫停設置限價單而不另行通知客戶。
Clause 公司聲明, 聲明內容 in 交易產品及細則 (完整交易細則), p.4
Downloaded from the broker's site on Archived copyOpen the reference
Our own capture of prestigegroup.com.hk, taken on Sep 3, 2026The claim, on English trading rules page, spread row of the product tableVisit this page on the broker's siteDownload the full size image file

A 5% deposit fee, and commission on a commission free account

A 5% fee applies to every online transfer into a Prestige account. Prestige waives it only if you close one lot for every $700 deposited before your next withdrawal, and its own deposit page states that threshold as $900. The client agreement also requires commission at rates Prestige sets and a daily custodian fee, on a site that promises permanently 0 commission.

Cost disclosure1 clause flagged

Prestige promises permanently commission free trading on its promotions page. Clause 12(D) of the agreement says you must pay commission on every purchase and sale, at whatever rate Prestige decides at the time. Clause 12(E) adds a daily custodian fee on the same basis.

Why this matters

Neither the commission rate nor the custodian fee is written down anywhere you can check. Prestige sets both when it chooses, and the contract you signed already commits you to pay them.

Exhibit 7WarningHarder than usual

客戶買入或賣出每百兩香港黃金或每五千安士香港白銀須付佣金予本公司，收費若干由公司隨時決定。
Clause 12 (D) (Chinese) in 客戶協議書 (貴金屬買賣條款 / Standard Terms and Conditions of Precious Metal Trading), p.2
Downloaded 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 they trade, with figures attached. This contract commits you to a commission and a daily custodian fee at rates it does not state.

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

Two withdrawal timings, and a waiver on the form

Prestige states two different withdrawal speeds. Its trading rules promise same day funds after a review of 1 to 2 hours, while its withdrawal method note says an overseas wire may take more than 3 days. The form itself makes you sign that Prestige is not liable for any loss incurred.

Exit conditions1 clause flagged

Prestige's trading rules promise a review of 1 to 2 hours and funds the same day. Its withdrawal method note says an overseas wire may take more than 3 days. The withdrawal form itself makes you sign that Prestige is not liable for any loss incurred.

Why this matters

You sign away your claim on the same piece of paper that releases your money, and you cannot tell from the documents whether it arrives today or next week. Your signature must also match the one on your account agreement or the request is not processed.

Exhibit 10WarningHarder than usual3 days

如需電匯國外，提款申請書必須用英文填寫，因涉電匯所以必須填上銀行機構代碼，時間可能要3天以上才可以匯到客戶之銀行帳號。
Quoted in 提款方法 (Withdrawal Method), p.1
Downloaded from the broker's site on Open the reference

Short trades can cost you every cent of profit and 10% more

Holding 50% of your volume for under 10 minutes lets Prestige rule your account abnormal. A profitable abnormal account loses all of its profit plus 10% of everything deposited, while an account down 15% or more is left alone and paid out. Prestige also prices any forced close-out itself, and the agreement says you may not challenge the figure.

Winners only1 clause flagged

When Prestige closes your positions itself, it picks the price using its own judgement and discretion. Clause 19(B)(ii) then says you cannot challenge the calculation. Prestige can also correct your account balance where it says a quoting error occurred.

Why this matters

The number that decides what you walk away with is chosen by the firm on the other side of the trade, and the contract closes off the argument before you can start it.

Exhibit 13WarningHarder than usual

The dollar (HK$ or US$ as may be appropriate) obligation shall be calculated by the Company by reference to the market price of the metal at the time of the invoicing back and the Customer shall not challenge such calculation.
Clause 19 (B)(ii) (English) in 客戶協議書 (貴金屬買賣條款 / Standard Terms and Conditions of Precious Metal Trading), p.18
Downloaded from the broker's site on Open the reference

Objecting to a change puts you in default

You have 48 hours to object in writing to any change Prestige makes to the agreement, and objecting is treated as your default. Prestige can also change your trading limit at any time with no notice and no duty to tell you where you stand. Pending orders, stop losses included, are cancelled before every holiday however short.

Silence required2 clauses flagged

Prestige cancels all pending orders before a holiday, take profit and stop loss included, however short the break. A stop loss is also refused and cancelled outright at the moment it triggers if your margin is not sufficient.

Why this matters

Your protection disappears exactly when you need it. A stop loss that is cancelled for want of margin leaves the position running to the 30% forced close, which is a far bigger loss than the one you set.

Exhibit 9WarningHarder than usual

当已设定之限价单(不论新单或平仓)触及指定价位时，如该客户之帐户保证金不足，该限价单将不会被接纳，并作即时取消处理。
Clause 限价单, 限价单取消情况 in 交易产品及细则 (交易须知, simplified Chinese), p.3
Downloaded from the broker's site on Open the reference

Prestige can cancel, cut, raise or restrict your trading limit at any time without telling you first. It also has no duty to warn you when your positions are near or past that limit. The trading rules end by reserving the right to add, delete or change every rule in them.

Why this matters

You can be over a limit you were never told had moved, and being over a limit is the kind of breach that opens the door to a forced close-out. Nothing obliges Prestige to send you a warning first.

Exhibit 15WarningHarder than usual

Provided However that the Company may at any time without prior notice to the Customer vary or limit or restrict or enlarge or extend such limit and has no obligation to given notice to the Customer in case his gold, silver, or platinum positions are near or beyond the trading limits or otherwise provide the Customer with information with respect to his gold, silver and/or silver position.
Clause 12 (F) (English) in 客戶協議書 (貴金屬買賣條款 / Standard Terms and Conditions of Precious Metal Trading), p.14
Downloaded from the broker's site on Open the reference

The binding contract is in a language the site never sells in

The English text of the Prestige client agreement governs, on a site that sells in Chinese and answers a mainland hotline. The two language versions do not match: the Chinese gives Hong Kong courts exclusive jurisdiction and the English calls it non-exclusive. You are held to Hong Kong, and Prestige can sue you in your own country and in several places at once.

Language arbitrage1 clause flagged

You agree Hong Kong is the right place for a dispute and you give up any objection to it. Prestige keeps the right to sue you in your own country, where your assets are, and in more than one country at the same time.

Why this matters

Bringing a claim means hiring Hong Kong lawyers and travelling. Defending one means facing Prestige at home, abroad, or in both places at once, and the contract says you cannot object to any of it.

Exhibit 16WarningHarder than usual

However, the Company is entitled to: (1) choose to commence legal proceedings in the Client’s country of residence or where the Client’s assets are located; (2) apply to the local courts to enforce any court orders imposed by the Hong Kong court; and (3) concurrently commence legal proceedings in one or more jurisdictions.
Clause 33 (English) in 客戶協議書 (貴金屬買賣條款 / Standard Terms and Conditions of Precious Metal Trading), p.20
Downloaded from the broker's site on Open the reference

A background check form with the company name left blank

The only data consent in the Prestige document set is a background check authorisation whose authorised party is a blank space. Signing it waives your right to pursue anyone for what gets disclosed. Prestige publishes no privacy policy, so nothing states where your identity documents go.

Data consent1 clause flagged

The last page of the Prestige agreement is a background check authorisation with the company name left blank. Signing it lets whoever fills that gap question anyone about you, and you waive the right to pursue anybody for what they say.

Why this matters

You give open ended permission to a party the form does not name, and you give up your remedy if the disclosure harms you. Prestige publishes no privacy policy anywhere, so nothing tells you where your documents go or how long they are kept.

Exhibit 14WarningRarely seen

I waive all rights of pursuing liabilities which may occur during the disclosure with any organization(s) and/or person(s).
Clause Personal Information Statement in 客戶協議書 (貴金屬買賣條款 / Standard Terms and Conditions of Precious Metal Trading), p.34
Downloaded from the broker's site on Open the reference

Our readingAccount opening packs routinely allow identity checks. Leaving the authorised party blank on a signed consent is different in kind: the person who receives the form decides afterwards whose name goes in it, and the same page removes the client's right to complain about the result.

Prestige trades against you and advertises the opposite

Prestige contracts as a principal only, which makes it the other side of your trade and means it gains when you lose. Its trading rules page advertises STP direct market execution, which describes the opposite arrangement. No conflict of interest policy is published anywhere on the site.

Who takes the other side1 clause flagged

Clause 4(A) says Prestige contracts as a principal only. It is the counterparty to everything you buy and sell, so your loss is its gain. Its trading rules page advertises STP direct market execution, which describes the opposite arrangement.

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.

Why this matters

When your money goes to the firm quoting your prices rather than to a market, the firm decides the price and profits when you are wrong. Prestige publishes no conflict of interest policy explaining how it manages that.

Exhibit 11WarningStandard wording

The Company contracts as a principal only.
Clause 4 (A) (English) in 客戶協議書 (貴金屬買賣條款 / Standard Terms and Conditions of Precious Metal Trading), p.12
Downloaded 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 tell a retail client when they are dealing on their own account against them, and must publish how the conflict is managed. This agreement discloses the principal relationship in the contract, and the marketing describes straight through processing instead.

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

Gold exchange membership does not supervise your money

Prestige is an AA member of the Hong Kong gold exchange, number 025, and holds a Hong Kong Customs precious metals dealer registration. Neither is financial regulation of client money, and the client agreement names no segregated account and no compensation scheme. It gives Prestige a banker's lien over everything of yours it holds, including property held for safekeeping.

What the badge covers1 clause flagged

Prestige is an AA member of the Hong Kong gold exchange and holds a Customs registration as a precious metals dealer. Neither supervises client money. The agreement gives Prestige a banker's lien over everything of yours it holds, including anything held for safekeeping.

Why this matters

No clause anywhere says your funds are kept separate from the company's own, and no compensation scheme is named. If Prestige fails, the lien puts the company ahead of you on your own balance.

Exhibit 17WarningHarder than usual

The Customer further agrees that the Company shall be endowed with a right of lien equivalent to a banker’s lien and that the Company may exercise such lien or right of lien on all of the Customers property or securities which may now or hereafter be in the Company’s possession or custody, whether for safekeeping or otherwise.
Clause 18 (B) (English) in 客戶協議書 (貴金屬買賣條款 / Standard Terms and Conditions of Precious Metal Trading), p.17
Downloaded from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ASIC (Australia)

Firms licensed by the FCA, CySEC and ASIC must hold retail client money in segregated accounts kept apart from the firm's own funds, and must say so. This document set contains no segregation clause and gives the firm a lien over all client property in its possession.

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

Where the marketing and the contract disagree

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

01

Prestige advertises full negative balance protection while the agreement you sign makes you liable for the shortfall and charges interest on it.

Said in public, in Chinese

100%负数余额保障

Word for word in English: 100% negative balance protection

Chinese promotions page, member benefits panel, above the line 交易风险更可控更安全 (trading risk is more controllable and safer)

In the contract · clause Risk Disclosure Statement, 1

Moreover, you will remain liable for any resulting deficit in your account and interest charged on your account.

02

Prestige advertises support for automated trading robots while the agreement bans placing orders with any third party software it did not issue.

Said in public, in English

Support EA trading

English trading rules page, feature panel heading, above the line Intelligent automated trading, STP direct market 100% order execution

In the contract · clause 關於異常交易的定義和處理方法, opening paragraph

對於客戶使用外掛軟體（即任何非本公司發佈的第三方輔助軟體）進行下單交易的行為也絕對不能接受。

03

The same sentence appears on the deposit page and in the trading rules with a different threshold, $900 against $700, changing how many lots you must close to escape the fee.

Said in public, in Chinese

在线转账交易将收取百分之五手续费，如客户在下一次提款前能累积至足够交易手数，即每900美元注资须完成1手平仓，本公司将代客户承担上述百分之五手续费；

Word for word in English: Online transfer transactions will be charged a five percent handling fee. If the client can accumulate enough trading lots before the next withdrawal, that is, one lot closed for every US$900 deposited, the Company will bear the said five percent handling fee on the client's behalf.

Chinese corporate accounts page, 注意事项 (points to note) on the deposit instructions

In the contract · clause 存取款方式, 存款 (一) 网上快速存款

在线转账交易将收取百分之五手续费；如客户在下一次提款前能累积至足够交易手数，即每700美元注资须完成1手平仓，本公司将代客户承担上述百分之五手续费。

04

Prestige promises permanently commission free trading while the agreement requires commission on every trade at a rate it sets whenever it chooses.

Said in public, in Chinese

天誉承诺永久免佣金

Word for word in English: Prestige promises permanently commission free

Chinese promotions page, member benefits panel, under the heading 永久0佣金 (permanently 0 commission)

In the contract · clause 12 (D)

客戶買入或賣出每百兩香港黃金或每五千安士香港白銀須付佣金予本公司，收費若干由公司隨時決定。

05

The trigger for Prestige hedging your whole account is stated as 300% on the website and 100% in its own trading rules.

Said in public, in English

After the market closes on Friday or before the holiday, if the account maintenance margin ratio is less than 300%

English trading rules page, locked margin row of the product table

In the contract · clause 交易比例相关, 锁仓

周五收市后或假期前收市后，如帐户出现维持保证金比率不足100%，系统将会给帐户内所有交易单予以对冲，即自动锁仓

06

Prestige advertises straight through processing to the market while the agreement says it deals as principal, making it the counterparty to your trades.

Said in public, in English

Intelligent automated trading, STP direct market 100% order execution

English trading rules page, feature panel under the heading Support EA trading

In the contract · clause 4 (A)

The Company contracts as a principal only.

07

Prestige advertises strict supervision of fund security while the agreement gives it a lien over all client property it holds, including property held for safekeeping.

Said in public, in English

Strict supervision of fund security

English trading rules page, feature panel above the line AA member of Hong Kong Gold Exchange, providing transaction code query

In the contract · clause 18 (B)

The Customer further agrees that the Company shall be endowed with a right of lien equivalent to a banker’s lien and that the Company may exercise such lien or right of lien on all of the Customers property or securities which may now or hereafter be in the Company’s possession or custody, whether for safekeeping or otherwise.

08

A standard spread of 0.18 is advertised as the product, while the trading rules let Prestige change the spread without notice.

Said in public, in English

Ultra-low spread trading, standard spread for spot gold is 0.18*

English trading rules page, spread row of the product table

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

In the contract · clause 公司聲明, 聲明內容

公司有權把買賣差價作出調整及暫停設置限價單而不另行通知客戶。

The documents this reading is based on

10 files, all published by Prestige. 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 Prestige publishes.

How this reading was done

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

This reading was published on .

Documents
4 of 10downloaded from the broker's site, and 4 read in full
Pages opened
22pages walked to find those documents, footer links included
Older copies
1earlier versions downloaded, 1 identical to the copy we hold by fingerprint
Marketing pages
8public pages set against what the contract says
Languages
EN vs ZH vs ZH-HANTthe language it advertises in, against the language it contracts in

Who the contract is with

Prestige International Bullion Limited

You contract with Prestige International Bullion Limited, written in Chinese as 天譽國際金業有限公司. The opening line of the standard terms names it as the Company, and both Hong Kong bank accounts on the deposit page are in that name. The website footer is copyright to a different name, Prestige International Limited. The trading rules PDF is copyright to a third, 天譽國際集團有限公司. Nothing in the document set explains how the three relate, and withdrawal forms go to an email address on a fourth domain, pibullion.com.

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

Prestige publishes its full client agreement, in Chinese and English, as a free download. Most Hong Kong bullion dealers do not. The risk disclosure is the Hong Kong regulator's own standard wording and it is complete on leverage, charges, currency and platform failure. The locked position statement is lifted from the regulator's investor education site and argues against locking, which works against Prestige's own product. Slippage is disclosed both ways, better price as well as worse. The abnormal trading rules leave an account down 15% or more completely alone and pay out its balance. The stated withdrawal review of 1 to 2 hours with same day funds is faster than most brokers promise, and the exchange membership number is stated so you can check it.

We read the client agreement, both Chinese versions of the trading rules, the withdrawal method note, the withdrawal form and the change of details form from end to end. We did not open the two sample forms, and we did not go past the member login. The trading rules PDF is published in a form whose text cannot be copied or searched, so we read it as it appears on the page. Prestige publishes no privacy policy, no complaints procedure, no anti money laundering policy and no bonus rules beyond the promotion page itself, so on those there was nothing to read. Only one earlier copy of any document exists, the February 2024 trading rules, so the client agreement has nothing to be compared against.

How to check any of this yourself

Every quote above links to the Prestige 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 Prestige 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 Prestige 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 3, 2026.

If you represent Prestige 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 Prestige. Whether its licence is real and current is a separate check on the broker profile.

Back to the Prestige profile