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Stock broker for US stocks - what if they go bankrupt? HK laws?

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  1. #31

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    Original Post Deleted
    Oh didn’t know they did that. Will check that.

  2. #32

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    On the topic of which banks in HK provide UK market access for Irish domiciled etfs, I found out Bank of East Asia Supreme Gold could be an option. Seems HSBC Premier, DBS Treasures and BEA are the only full fledged banks at retail level in HK to do so? That's the good news. The bad is that they don't make the entire universe of stocks on the exchange eligible and are very limited to which ones they actually support settlement of. In my case I asked on these 6 LSE ETF's (IWDA, EIMI, CSSPX, AGGG, LQDE, USAG) and only EIMI LN came back as eligible for trading/custody with them. Also there's no online trading and orders can only be done in person at specified branches.

    So they're not a fit for me but perhaps others whose stocks of interest are supported, it could be considered. Particularly as they have a lower threshold of 500k vs HSBC and DBS' 1mil. YMMV.

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  3. #33

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    Quote Originally Posted by foxwendal:
    On the topic of which banks in HK provide UK market access for Irish domiciled etfs, I found out Bank of East Asia Supreme Gold could be an option. Seems HSBC Premier, DBS Treasures and BEA are the only full fledged banks at retail level in HK to do so? That's the good news. The bad is that they don't make the entire universe of stocks on the exchange eligible and are very limited to which ones they actually support settlement of. In my case I asked on these 6 LSE ETF's (IWDA, EIMI, CSSPX, AGGG, LQDE, USAG) and only EIMI LN came back as eligible for trading/custody with them. Also there's no online trading and orders can only be done in person at specified branches.

    So they're not a fit for me but perhaps others whose stocks of interest are supported, it could be considered. Particularly as they have a lower threshold of 500k vs HSBC and DBS' 1mil. YMMV.
    HSBC Premier offers share trading on UK listed stocks? I thought that was via HSBC Brokering (which is separate from the bank)?

  4. #34

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    i trade mine through phillip securities, a singapore originated but also currently in hk broker..
    plus:
    - they pretty much allow me access to almost all exchanges in the world, some online (SG, HK, US, Aussie, etc) some via broker assisted trade (e.g. UK, pink sheets)
    - charges are fair. not the cheapest but decent
    - custodian charges are waived if you trade twice a month, other wise is like 2SGD per counter per month capped at 150 SGD per quarter.
    - i am comfortable with their risk profile.. they don't take much risk and have been profitable for the last 20 or 30 years even through the crisis
    - FX conversion is decent.. not wholesale rate but acceptable (i.e. not the bank retail rates)

    negatives:
    - slightly primitive systems.. improving slowly but...
    - if you do leverage trades (e.g. margin), their cost is super expensive
    - custodian charges is technically not cheap if you have too many counters

    you can give them a call if you think its useful


  5. #35

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    HSBC Bank offers LSE trading through the Overseas Securities Account channel (must be Premier client). This isn't HSBC Brokering. However their trading comms are terrible (1%) and orders are only via phone. Benefit of it is low custody fee.

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  6. #36

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    Quote Originally Posted by foxwendal:
    HSBC Bank offers LSE trading through the Overseas Securities Account channel (must be Premier client). This isn't HSBC Brokering. However their trading comms are terrible (1%) and orders are only via phone. Benefit of it is low custody fee.
    Yes, I can verify this - orders are placed via phone.

    Broking too.

  7. #37

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    if SGD should be in singapore.. hkd you can send to their hsbc account..
    if you want a more sophisticated way of doing, open a futures account with them.. think that way the efficiency is better.. then you convert your money and move it over to the securities account..

  8. #38

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    I have the HSBC Overseas Securities Services account. My stocks were transferred in from IB, and I only use them for custody, so I have never actually placed a trade. Important to note that they only allow transferring in of shares from a third party once at the point of opening the account. After that, shares must be bought on the platform (at their exorbitant rate). But it's not true that you can't see the shares online. I can see them.

    This is the info sheet for the facility if people are interested. And yes, I'm quite curious too as to why BEA only provides select access to LSE stocks.

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    Last edited by foxwendal; 10-04-2019 at 04:41 PM.
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  9. #39

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    My stocks were transferred in from another bank, and I only use them for custody,
    They accepted UK stocks from another bank into your account?

    Here's what I have from someone at HSBC.

    However, I am afraid that we do not have the transfer service for the UK stocks. On the other hand, we do accept US stocks transfer, and the charges are depends on cross border or not.

  10. #40

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    Original Post Deleted
    They really need to invest in a CRM/Knowledge system. Even I have one which allows me to do /c keyword and inserts standard replies into emails.

    I'll email them again to find out about UK stock transfers.

    Talk about it tomorrow.

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