View Poll Results: Which of brokers would you suggest for US stocks at this time

Voters
19. You may not vote on this poll
  • Futu HK Stocks Securities Service

    2 10.53%
  • SoFi Hong Kong HK Stocks Securities Service

    7 36.84%
  • Other: Please suggest in thread

    10 52.63%
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Poll: Help to decide which online broker to trade/hold US stocks (about $200K HKD)

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  1. #31

    Join Date
    Mar 2007
    Posts
    636
    Quote Originally Posted by emx:
    Thank you

  2. #32

    Join Date
    Feb 2019
    Posts
    3,240
    Quote Originally Posted by emx:
    Anyone who thinks China can't innovate, just needs to try that app!

  3. #33

    Join Date
    Mar 2010
    Location
    Hong Kong
    Posts
    715
    Quote Originally Posted by RMDNC:
    Having said this, anyone using FUTU and care to provide feeback? I'm long the stock currently.
    I wrote an unfortunately long-winded comparison of Futu in another post (vs. WeBull & uSMART) and currently still use all three. Aside from the information & interface overload of Futu, it's absolutely fine if you ignore the un-necessary clutter (you can tell it's a Chinese app). USD/HKD conversion rate slightly better than uSMART, and many funds at 0% subscription fee right now, making them a bargain.

    I use uSMART for IPO's (zero fees vs. the $50 you pay Futu even if you don't get allotted) and prefer their analysis, and I now realise that for certain stocks (e.g. dividend paying shares with very small lot sizes) it could even be beneficial to stick with HSBC, who don't additionally deduct a fee per lot. But I guess that's not relevant for your intended US holdings.

    (Interestingly Futu also tell you your transaction "opponent", which is probably TMI but I found to be a curious addition)

  4. #34

    Join Date
    Jun 2016
    Posts
    1,972

    I'm up 354% on my FUTU position.

    muzzdang and GentleGeorge like this.

  5. #35

    Join Date
    Jun 2013
    Posts
    53

    Question abt Interactive Broker HK. Several people told me abt IB paying interest on excess cash in the account. I checked their website recently, it seems 0% interest is paid even if you have USD1mn in excess cash. Just wondering if anyone know.


  6. #36

    Join Date
    Mar 2010
    Location
    Hong Kong
    Posts
    715

    I've finally opened an IBKR account, given they allow company accounts and this was an easier (and cheaper) solution than HSBC's bureaucratic BS to enable investments. I have to say though, so far it doesn't appear particularly user friendly. App / Browser platforms seem a little buggy... occasional connection errors and for example an order completed on the App doesn't appear on the browser summary. Is it just me? Or do IBKR users use the API and their own tools?

    I also can't figure out the commissions...I don't see a detailed breakdown anywhere, only "Comm". So if I buy 400 shares @ 72.05 and it's split over 2 sales (300+100)... how does that come to $27.64 + 26.19 respectively?

    Even based on the Tiered / Fixed fee tables on IBKR website (0.08% min. $18) and the various mandatory fees.... I can't in the life of my come to those numbers. I'm trying to preset the formulae into an Excel sheet I keep.


  7. #37

    Join Date
    Jun 2013
    Posts
    53

    @tparker, for most HKEX stock transactions, there is a stamp duty of 0.1%. plus IBKR's commision of 0.08%, its abt in line with what you paid.


  8. #38

    Join Date
    Mar 2010
    Location
    Hong Kong
    Posts
    715
    Quote Originally Posted by eastside:
    @tparker, for most HKEX stock transactions, there is a stamp duty of 0.1%. plus IBKR's commision of 0.08%, its abt in line with what you paid.
    Thanks. Doesn't quite add up though. I've factored in the 0.0027% (SFC), 0.1% (Stamp Duty), 0.005% (HKEX)+$0.5 levy, 0.002% (clearing) - but can't get $53.83 however I go about it.

    I'll just be patient and wait a day or two: I presume I get a proper statement at some point.

  9. #39

    Join Date
    Jun 2013
    Posts
    53

    look like you paid a bit less than 0.2%? consisting of 0.1% stamp duty and 0.08% broker commision and the rest?


  10. #40

    Join Date
    Feb 2019
    Posts
    3,240
    Quote Originally Posted by RMDNC:
    I'm up 354% on my FUTU position.
    I looked at installing and using Futu perhaps 18 months ago, after their IPO

    I was a little bit perturbed that on their list of 'hot picks', their own stock was right at the top. Words 'Chinese' and 'scam' were in my mind at that point. I ran some rough numbers and decided that even their current valuation was far too high given the money they could be realistically making given their fees, even at extravagant growth rates. So I decided to give the app, and the stock, a miss.

    Well it went up 10x since then, I am kicking myself!