Online banking...

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  1. #1

    Join Date
    Aug 2005
    Location
    Hong Kong Island
    Posts
    88

    Online banking...

    Happy new year everyone!

    I'd like some of your ideas and input with regards to the banking services available for private customers.

    What i'm after is a HK-bank that has a good online service with which I can transfer funds internationally AND which also gives me the possibility to trade securities, preferably also a wide selection of funds and not only those belonging to the bank itself. If would also be nice to trade on DJ, nasdaq etc without having to use a hotline.

    I use HSBC today and their online trade service has to be the worst I've seen in my life, no graphs, limited search capabilities, no possibility to compare securities, no p/e, no beta no nothing...

    What services do u guys use, and what are the pros & cons about them??

    Keep on rocki'n! / R


  2. #2

    Join Date
    Nov 2005
    Posts
    45

    esignal for data transmission, interactivebrokers for brokerage. If its execution only service you want, IB are by far the cheapest service, since it is all automated and directly linked to the exchanges. There is also perfect synchronisation of prices between esignal and IB, so what you see on your chart, you can get on IB, and you can get it instantly executed, with no slippage and with very tight spreads.

    Why limit yourself to in-house bank services in HK? If you're trading online, all the best outfits are US. It makes no difference whether you open your account with HK, US or UK brokerages, or anywhere else. Although if the US dollar collapses this year as it may well do, you might wanna consider opening up an IB account in UK Sterling and repatriate profits in US dollars after it collapses.


  3. #3

    Join Date
    Jun 2005
    Location
    Hong Kong
    Posts
    23,205

    Er, I use HSBC - it has graphs, p/e, comparison of securities against various indexes and benchmarks, and a whole heap of quite sophisticated trading mechanisms. It also has currency "gambling" options that require a really very sophisticated knowledge to be able to use.

    There are perhaps 150 funds available from a variety of houses (about 10 different management companies I think).

    What you can't do is trade individual securities on exchanges other than Hong Kong,

    I can't see how we can be talking about the same bank!