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Best platform to trade HK & US stocks

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  1. #11

    Join Date
    May 2019
    Posts
    143

    Chief Securities currently have a good offer if you're buy and hold type.

    Sign up for their Monthly Investment plan for either HK and/or US stocks and get 24 months free brokerage fee. They offer certain companies that HSBC don't on their SMIP, like Baba and Xiaomi, but the choice for US stocks is limited to a selection of about 30 blue chips and ETFs.

    Their transfer out fees aren't outrageous, and your HK assets are protected up to 150k or whatever it is, so you could take advantage of the offer and then transfer out to your bank having saved 24 x 130hkd/18 usd - the transfer out fees (think it's 40hkd and 50usd per stock respectively).

    Do all your own research in advance. Apologies if any of those numbers are incorrect. I started using them this month and have been happy so far.


  2. #12

    Join Date
    Dec 2002
    Location
    ???
    Posts
    30,551

    An interesting series of articles (or a line of thought is emerging) have been published over the last few days regarding WallStreetBets ( a sub forum on Reddit ), ZERO fee and fractional share holding accounts and the volatility seen on TSLA, SPCE and a few other stocks.

    Had to update this thread... probably an unwanted line of thought, but ...

    “One theory we think has some merit is that the seeds for these moves were planted in October when online brokers cut commissions to zero. At the time few people predicted any real macro ripple from this change,” Wells Fargo said.
    https://www.cnbc.com/2020/02/22/craz...rket-sign.html

    and

    Firms have also been lowering the barrier for entry by offering the option to trade fractions of a share. For as little as a dollar, investors can buy names like Amazon which closed above $2,000 per share Friday. SoFi began offering fractional trading in July. Charles Schwab, Square and Robinhood have since announced the same “fractional trading” feature.
    https://www.cnbc.com/2020/02/21/free...in-stocks.html

    There is another line of thought about SPCE - a new ETF called UFO which has now become my favorite ticker, after MAGA.
    Morrison likes this.

  3. #13

    Join Date
    Jul 2005
    Location
    Pearl of the Orient
    Posts
    3,913

    I am a great fan of Interactive Brokers. The platform does take a bit of getting used to, but there are many YouTube tutorials to help you get to grips. The customer support guys in HK have been trained in the F*ck You School of Support so don't expect much help there.

    An idea to explore.

    Buy your long term securities with IB, and have them transferred to HSBC?

    (Dow looking a bit rocky this morning after recent all time highs)

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  4. #14

    Join Date
    Jul 2005
    Location
    Pearl of the Orient
    Posts
    3,913

    As a sidenote for IB their FX rates are unbeatable.

    For transferring decent size amounts of HK$ into US$ many hundreds of $ can be saved.

    For comparison, last weeks quotes:-

    HSBC 7.7958
    Citi 7.7800
    Transferwise looked good at 7.7680 but fees take that up to 7.7983

    IB- 7.7664

    shri likes this.

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