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8 Securities?

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  1. #1

    Join Date
    Sep 2015
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    8securities.com

    For stock trading, has anyone tried:

    https://www.8securities.com/

    The 0% commission sounds too good to be true and was wondering if there's a catch somewhere...

    (oops... just realised the thread title should have been 8securities.com)


  2. #2

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    Interactive Brokers's commission is very low and much more reputable.

    I wouldn't try that 8securities, I don't trust cheap Chinese stuff.


  3. #3

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    Don't you have to show a record of 100 trades before you sign up for IB. If I recall, 8 is largely overseas management / founders but they only allow you to trade 8 securities? Been ages since I have looked at their site.


  4. #4

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    Quote Originally Posted by shri:
    Don't you have to show a record of 100 trades before you sign up for IB. If I recall, 8 is largely overseas management / founders but they only allow you to trade 8 securities? Been ages since I have looked at their site.
    To sign up for an account with IB, or to grant access to Options, Futures or penny stock trading, you need to state that you have previous experience for a couple years and your net worth is over a certain number.
    No proof is required, so you can select whatever appeals to you.

  5. #5

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    They came to our office a couple of months back for a presentation/discussion on Fintech.
    It was mainly about Robo advisory but that is also where they get the money from to offset the cost of trading (which was quite low anyway), default risk is with the custodian and not with them as they won't hold the stocks.
    It sounds interesting but downside is that you can only trade in HK or the US.

    shri likes this.

  6. #6

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    They're website says they have three source of income:
    - they take interest on margin trading
    - currency exchanges
    - if you use robo-investing then there is a .88% annual management fee (at least there is for their Japan site).

    Robo-investing is where I expect that's where they'll try to get their money. A bit like Betterment. The zero commission is a loss-leader for them. But investors will be at a disadvantage if they can only robo-invest in HK and US listed ETFs.


  7. #7

    What's the difference between opening a stock trading account with a bank or with a broker?


  8. #8

    Join Date
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    Quote Originally Posted by personinhk:
    What's the difference between opening a stock trading account with a bank or with a broker?
    Basically everything.

    From the fees charged to the types of service available.

  9. #9

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    8 Securities?

    0% commission and they also have a robo-advisor app as well that is free up to HKD8,888. Seems to have access to both HK and US markets.

    Too good to be true?

    https://www.8securities.com/en-trading/


  10. #10

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    Two questions to ask:
    How do they make money?
    What happens to your money if they go broke?


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