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Aspect | Information |
Company Name | HKIFS |
Registered Country/Area | Hong Kong |
Founded Year | 1987 |
Regulation | Not regulated |
Market Instruments | Securities trading,capital management,etc |
Account Types | Securities (Cash A/C), Securities (Margin A/C) |
Spreads | Starting from 75 HKD |
Trading Platforms | Instant Online Trading Version (EG), Mobile Trading Platform |
Customer Support | Tel: (+852) 2853 8000; Email: hkics@hkifsgroup.com; Fax: (+852) 2815 5652 |
Deposit & Withdrawal | Bank transfers; |
Hong Kong International Financial Services (HKIFS), established in 1987, operates in Hong Kong, providing services encompassing securities trading, capital management, family office, and factoring. Offering Securities (Cash A/C) and Securities (Margin A/C) accounts, HKIFS allows users to trade various assets. Despite its user-friendly trading platforms and competitive fees, HKIFS faces challenges due to the absence of regulatory oversight. Clients can contact customer support for account inquiries. The firm's founding time and location contribute to its long-standing presence, while the lack of regulation raises considerations for potential users seeking a secure and regulated trading environment.
HKIFS operates without regulation from any governing authority, posing potential issues regarding transparency and oversight. Unregulated exchanges such as HKIFS lack the essential safeguards and legal protections enforced by regulatory bodies.
This absence of oversight heightens the risk of fraud, market manipulation, and security vulnerabilities. Users will encounter difficulties in seeking remedies or resolving disputes in the absence of proper regulation. Moreover, the dearth of regulatory supervision contributes to a less transparent trading environment, challenging users to assess the exchange's legitimacy and reliability accurately.
Pros | Cons |
User-Friendly Trading Platforms | Lack of Regulation |
Competitive Fees | Limited Market Analysis and Insights |
Comprehensive Customer Support | Limited Educational Resources |
Complex Opening Account Process |
Pros:
1.User-Friendly Trading Platforms: The platform offers an intuitive and user-friendly interface, providing ease of navigation and efficient trade execution.
2. Competitive Fees: HKIFS provides competitive fees, including low transaction costs, contributing to cost-effective trading for users.
3. Customer Support: The customer support team is responsive and accessible, offering assistance to users with their inquiries.
Cons:
1.Lack of Regulation: One notable drawback is the absence of robust regulatory oversight, potentially raising issues about transparency and user protection.
2. Limited Market Analysis and Insights: The platform lacks market analysis and insights, limiting the tools available for users to make informed trading decisions.
3. Limited Educational Resources: HKIFS offers fewer educational resources, which will impact the learning experience for users, especially those seeking in-depth educational materials.
4. Complex Opening Account Process: The account opening process is intricate, posing potential challenges for users, especially those new to trading platforms.
HKIFS provides securities trading services through Hong Kong International Securities Limited, with a central registration number AAB856. The services include stock cash accounts, stock margin accounts, and access to the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect programs. The platform offers mainstream electronic trading systems like the 2GOTrade system, allowing clients to conveniently browse market information and execute orders. Additionally, the company provides loans for purchasing securities, using securities held in clients' accounts as collateral.
In the field of capital management, Hong Kong International Capital Management Limited, with a central registration number ABT748, offers securities advice, corporate financing advice, and asset management services. The company provides full-service delegated asset management, offers asset management and investment advice for funds, and manages self-initiated fund products.
HKIFS also operates in family office services through Hong Kong International Family Office Limited. The services include family wealth management and financial planning, investment management, financial budgeting, tax and legal consultation, compliance and legal assistance, and investment structure establishment for cross-border financial operations.
Furthermore, Hong Kong International Factoring Limited, licensed by the Hong Kong government and regulated by the Hong Kong Police, provides professional factoring services for business clients engaged in trade. The company offers comprehensive financing solutions for small and medium enterprises.
In the realm of equity investment, Shenzhen Huagang Tongda Equity Investment Fund Management Co., Ltd., affiliated with HKIFS, holds qualifications for both QFLP (Qualified Foreign Limited Partner) and QDIE (Qualified Domestic Investment Enterprise). It engages in foreign capital cross-border equity investment fund management (QFLP) and qualified domestic investor overseas investment management (QDIE) in mainland China.
HKIFS offers two distinct account types: Securities (Cash A/C) and Securities (Margin A/C), each tailored to meet the specific requirements of different user groups.
Securities (Cash A/C):
The Securities (Cash A/C) account type is tailored for individuals or corporate clients seeking a straightforward and traditional approach to securities trading. This account type allows users to engage in securities transactions using cash funds, providing a convenient and transparent method for executing trades without leveraging borrowed funds. It is suitable for investors who prefer a more conservative and risk-averse approach to trading, as it avoids the complexities associated with margin trading.
Securities (Margin A/C):
The Securities (Margin A/C) account type is designed for more experienced and sophisticated investors who are comfortable with leveraging and margin trading strategies. This account allows users to borrow funds against their existing securities or cash, providing the flexibility to increase their trading positions. While offering potential for higher returns, the Securities (Margin A/C) involves a higher level of risk due to the borrowed capital. This account type is suitable for individuals or institutions with a higher risk tolerance and a comprehensive understanding of margin trading dynamics.
Account Opening Process
Step 1: Inquiry
You can contact us through any of the provided channels, and we will explain the details of the account opening process.
Step 2: Contract Signing
Upon the customer's request for account opening, relevant documents are submitted. Our marketing team discloses trading risks, explains the account opening contract, and guides the customer through the signing process.
Step 3: Notification of Successful Account Opening
Upon successful contract review, customers are notified of their account opening through email or mail, along with the account and fund transfer details.
Step 4: Fund Deposit
Once customers receive their trading accounts, they can proceed with fund deposits. Transfers can be made via local bank accounts in Hong Kong or through wire transfers for mainland China bank accounts.
Account Opening Methods
1.Direct Account Opening
Customers can visit our headquarters for a direct account opening.
2. Phone Appointment Account Opening
Our company assigns a representative for witness account opening. Customers can make a phone appointment by calling our company at (852) 2853 8000 or by downloading the appointment form from our website and submitting it via email or fax.
3. Witnessed Account Opening
Complete the account opening form and agreement, provide copies of identification and address proof documents, and have it witnessed by a representative. For individual/joint customers, mail the completed forms along with address proof, ID copies, and a cheque of not less than HKD 10,000. The cheque must be issued by the customer's registered bank in Hong Kong, bearing the name displayed on the customer's ID, and the signature on the cheque must match the one in the customer agreement for identity verification. Note: Mail-in submission is applicable only for individual/joint customers.
HKIFS imposes a range of fees for its securities trading services, subject to potential adjustments without prior notice. The brokerage commission, calculated based on the transaction amount, has a minimum charge of 75 HKD. Additional charges include stamp duty (0.1% adjusted to the nearest integer), transaction fee (0.00565% effective from January 1, 2023), Financial Transaction Levy (0.00015%), Securities and Futures Commission transaction levy (0.0027%), and settlement system delivery fee (0.011%, capped at 200 HKD, with a minimum of 3 HKD).
For physical stock-related services, HKIFS charges a fee for depositing and withdrawing physical stocks, as well as a handling fee for delivery instructions. The agency also levies charges for services related to cash dividend collection, registration and transfer, and corporate actions, such as stock splits and additional offerings.
For Shanghai-Hong Kong Stock Connect (SH-HK Stock Connect) and Shenzhen-Hong Kong Stock Connect (SZ-HK Stock Connect) securities services, fees include a minimum brokerage commission of 75 HKD, settlement system usage fee (0.002%, capped at 100 HKD, with a minimum of 2 HKD), handling fee (0.00487% of the bilateral transaction amount), regulatory fee (0.002% of the bilateral transaction amount), transfer fee (0.002% of the bilateral face value), and stamp duty (0.1% on the selling side).
HKIFS offers an online trading platform known as the “Instant Online Trading Version (EG).” The platform features dual authentication for added security and includes login prompts to ensure a secure login process.
Additionally, there is a mobile version of the online trading platform available for download, providing users with the flexibility to engage in trading activities through their mobile devices. The platform emphasizes the importance of security through its dual authentication mechanism, enhancing user confidence in the login process.
Payment Methods:
For depositing funds into the securities account, clients can utilize the following banks to transfer funds directly to HKIFS's bank accounts. These banks include Wing Hang Bank Limited (account details for HKD and CNY) and Bank of China (Hong Kong) Limited (account details for HKD and USD).
Deposit Notification and Withdrawal Procedure:
Clients are required to submit proof of deposit through various channels, including email, fax, or WhatsApp. The document outlines the steps for notifying HKIFS of a deposit, including sending deposit proof to the customer service department through specified communication channels.
For withdrawals, clients need to complete a withdrawal form, which can be submitted through email or fax. The document provides contact information for customer service, including phone numbers and email addresses for different departments.
HKIFS offers comprehensive customer support for various services. For account opening and fee inquiries, clients can contact the dedicated customer service team at Tel: (+852) 2853 8038 or (+852) 2853 8000, with additional support through Fax: (+852) 2815 5652 and Email:hkics@hkifsgroup.com.
Assistance for settlement, fund transfers, and related matters is available through Tel: (+852) 2853 8084, (+852) 2853 8038, and (+852) 2853 8012, with corresponding fax and email channels.
For securities trading inquiries, clients can reach out to Tel: (+852) 2853 8027 and (+852) 2853 8030. The company also provides a structured complaint procedure and contact information for dispute resolution through the Financial Dispute Resolution Center. Clients dissatisfied with the company's response can seek assistance from the center with its address at Room 408-409, 4/F, West Wing, Justice Place, 11 Ice House St, Central, Tel: (852) 3199 5100, and Email: fdrc@fdrc.org.hk.
In conclusion, HKIFS presents a mixed landscape for potential users. On the positive side, the platform stands out for its user-friendly trading interfaces, offering an efficient experience for traders. The competitive fee structure is another notable advantage, making it an attractive option for those seeking cost-effective trading solutions. Additionally, the responsive customer support team adds a layer of support and assistance, enhancing the overall user experience.
However, the platform does face some drawbacks. The absence of robust regulatory oversight will be an issue for users who prioritize regulatory assurances. Furthermore, the limited availability of market analysis tools and educational resources could pose challenges for users looking to deepen their understanding of financial markets. Balancing these advantages and disadvantages is crucial for potential users, as their priorities and preferences will determine the overall suitability of HKIFS for their trading needs.
Q: What are the account types offered by HKIFS?
A: HKIFS provides Securities (Cash A/C) and Securities (Margin A/C) accounts.
Q: How can I contact HKIFS customer support?
A: You can reach HKIFS customer support at (+852) 2853 8000 or via email at hkics@hkifsgroup.com.
Q: What payment methods are available for deposits?
A: Deposits can be made through designated bank accounts with Huaxia Bank and Bank of China (Hong Kong).
Q: What is the minimum deposit requirement?
A: The minimum deposit varies, and users can refer to the detailed fee structure for specific account types on the official HKIFS website.
Q: Is there regulatory oversight for HKIFS?
A: No, HKIFS is not regulated by any regulatory authority.
Q: How do I open an account with HKIFS?
A: You can open an account by following the detailed steps outlined on the HKIFS website, including consultation, contract signing, successful account notification, and funding.
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