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SoFi HK - was 8 securities

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  1. #1

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  2. #2

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    Covered in some more detail here:

    Despite the impact of COVID-19 on the global markets, SoFi Hong Kong CEO Abdulla told TechCrunch that the first quarter of 2020 was 8 Securities’ strongest ever, with new accounts and assets up 400% in March, compared to the 2019 average.

    “We experienced a surge in first-time investors that see the current market pull-back as an opportunity to start investing,” he said. “Despite the market decline our active accounts and assets are higher than they have ever been.”
    https://techcrunch.com/2020/04/21/so...-8-securities/

  3. #3

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    yeah, read about it a few days ago. How much it impacts us I am not too sure. well actually it probably doesn't. Unless they start coming out with UK traded shares.....


  4. #4

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    I had high hopes for the 8 securities, but it did not rattle enough me to change.


  5. #5

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    Article about 8Securities / SoFi in SCMP

    https://www.scmp.com/business/market...argets-younger

    Interesting to see that quite a few small brokerages have gone bust recently.


  6. #6

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    Sofi HK, anybody?

    After the announcement they took over 8-securities I looked into the trading website of Sofi .hk
    https://www.sofi.hk/web/

    It looks promising, also on the fee and commission part of it.
    Is anybody using it already?
    What is your idea?

    full disclosure: I have no affiliation or relation with this company it at this moment. Nor am I recommending this company at this point in time.


  7. #7

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    Curious too but cant help but think that no fees and no comissions falls under the 'no such thing as a free lunch' category. Dont understand enough to justify using it for myself so will watch from a distance!

    PetravanderVegt likes this.

  8. #8

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    Quote Originally Posted by PetravanderVegt:
    After the announcement they took over 8-securities I looked into the trading website of Sofi .hk
    https://www.sofi.hk/web/

    It looks promising, also on the fee and commission part of it.
    Is anybody using it already?
    What is your idea?

    full disclosure: I have no affiliation or relation with this company it at this moment. Nor am I recommending this company at this point in time.
    At the moment the pricing is the same as old 8 Securities.

    Many platforms in the US offer free trading. They make their money via margin trading and how they place their shares.

    Now if they start offering fractional HKSE share trading, that will be interesting.

  9. #9

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    Now if they start offering fractional HKSE share trading, that will be interesting.
    You mean odd lots or say like 1/2 HSBC share for $20?

  10. #10

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    Quote Originally Posted by pin:
    At the moment the pricing is the same as old 8 Securities.

    Many platforms in the US offer free trading. They make their money via margin trading and how they place their shares.

    Now if they start offering fractional HKSE share trading, that will be interesting.
    As I recall 8-securities has a monthly fee.
    For Sofi I do not see that.

    https://www.sofi.hk/forms/Pricing_EN.pdf

    But maybe it is too good to be true.

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