- Cash Account: Designed for corporations to engage in securities trading with the available balance in their account. Necessary documentation for opening a corporate cash account includes a corporate account opening form, a board resolution, and other specific corporate documents.
- Margin Account: Allows corporate entities to trade on margin, similar to individual margin accounts, but tailored to corporate financial structures. This includes additional terms for securities margin accounts, a letter of guarantee, and supporting documents that outline the corporate structure and authorization.
GMSL Fee Review
The fee structure at Global Mastermind Securities Limited is detailed, ensuring clients understand the costs associated with trading both in the Hong Kong and China securities markets:
Hong Kong Securities Market Fees: Trading in the Hong Kong securities market incurs a general commission fee starting at 0.20% per transaction, with a minimum of HK$80. Stamp duty is charged at 0.1% of the transaction value, rounded up to the nearest HK$1.
Other fees include a 0.0027% SFC transaction levy, a 0.00565% HKEX trading fee, and a CCASS stock settlement fee of 0.005% per side, where 0.002% is collected by HKSCC, with a minimum of HK$5 and a maximum of HK$200.
The Financial Reporting Council transaction levy is 0.00015%, rounded to the nearest cent. For grey market orders, an additional 0.05% of the transaction amount is charged (minimum HK$50).
China Connect Securities Fees: For China Connect securities, the general commission fee is also 0.20% of the transaction amount, with a minimum of RMB 80.
Execution of these transactions by an execution broker involves an additional fee of 0.05% (minimum RMB 50). Stamp duty, payable only by the seller, is 0.05% of the transaction amount.
Additional charges include a 0.00341% handling fee by SSE/SZSE, a 0.002% management fee by CSRC, and a 0.003% transfer fee with portions distributed between ChinaClear and HKSCC.
Nominee Services and Corporate Actions Fees: Nominee services and corporate actions involve various fees such as a HK$200 charge for stock transfer out, HK$5 per board lot for physical scrip withdrawal (minimum HK$50), and HK$5 per transfer deed for physical scrip deposit/transfer.
Scrip fees are HK$2.50 per board lot (minimum HK$20). Collection fees for cash/scrip dividends are 0.25% of the gross consideration (minimum HK$20, maximum HK$20,000), and HK$2 per board lot for bonus issues.
Rights exercise involves a fee of HK$1 per board lot of newly exercised/converted shares (minimum HK$20, maximum HK$20,000). IPO subscription handling charges are HK$100 per transaction, with additional fees for financing.
Other Services and Fees:This section covers miscellaneous fees such as overdue interest on cash accounts at Prime Rate plus 10% p.a., margin financing interest at Prime Rate plus 3% p.a., and default interest at Prime Rate plus 8%.
Local express transfers and telegraphic transfers cost HK$200 per transaction, plus bank charges. Stop payment and returned cheque incidents are charged at HK$300 each, plus applicable interest.
Reprinting of statements and mailing costs HK$50 per statement and HK$50 per month, respectively.
| Fee Category | Description | Rate/Amount |
| General Commission Fee (HK Stocks) | Standard brokerage fee | 0.20% of transaction (Min. HK$ 80) |
| Stamp Duty (HK Stocks) | Government tax on transactions | 0.1% of transaction (Rounded up to HK$1) |
| SFC Transaction Levy | Regulatory fee | 0.0027% of transaction |
| HKEX Trading Fee | Exchange trading fee | 0.00565% of transaction |
| CCASS Stock Settlement Fee | Settlement fee per side | 0.005% (0.002% collected by HKSCC), Min. HK$5, Max. HK$200 |
| Financial Reporting Council Levy | Financial reporting fee | 0.00015% of transaction (Rounded) |
| Grey Market Additional Fee | Extra fee for grey market orders | Additional 0.05% (Min. HK$ 50) |
| General Commission Fee (China Connect) | Brokerage for China Connect stocks | 0.20% of transaction (Min. RMB 80) |
| Execution Fee (China Connect) | Additional execution fee | Additional 0.05% (Min. RMB 50) |
| Stamp Duty (China Connect) | Tax on transactions by SAT | 0.05% (seller only) |
| Handling Fee (China Connect) | Fee by SSE/SZSE | 0.00341% of transaction |
| Management Fee (China Connect) | Fee by CSRC | 0.002% of transaction |
| Transfer Fee (China Connect) | Fee by ChinaClear and HKSCC | 0.003% of transaction (0.001% by ChinaClear, 0.002% by HKSCC) |
| Nominee Services and Corporate Actions | Stock transfer out | HK$200 per stock |
| Physical Scrip Withdrawal | Withdrawal of physical certificates | HK$5 per board lot (Min. HK$50) |
| Physical Scrip Deposit/Transfer Fee | Fee for depositing or transferring scrip | HK$5 per transfer deed |
| Scrip Fee | Registration fee per board lot | HK$2.50 (Min. HK$20) |
| Dividend Collection Fee | Cash/scrip dividend collection fee | 0.25% of gross consideration (Min. HK$20, Max. HK$20,000) |
| Bonus Issue Collection Fee | Bonus shares deposit fee | HK$2 per board lot (Min. HK$20, Max. HK$1,000) |
| Rights Exercise Fee | Fee for exercising warrants/rights | HK$1 per board lot of new shares (Min. HK$20, Max. HK$20,000) |
| IPO Subscription Handling Fee | Handling IPO subscriptions | HK$100 per transaction, plus interest on borrowed amounts if financed |
| Compulsory Buy-in Fee | Mandatory buy-in for short sells | 0.50% of Short Sell Value (Based on T+2 Closing Price) + HK$300 handling fee |
| Cash Account Overdue Interest | Interest on overdue cash accounts | Prime Rate + 10% p.a. |
| Margin Account Borrowing Interest | Interest on borrowed funds in margin accounts | Prime Rate + 3% p.a. |
| Default Interest Rate | Interest rate on defaults | Prime Rate + 8% |
| Local Express Transfer Fee | Fee for same-day local transfers | HK$200 per transaction + bank charges |
| Telegraph Transfer Fee | Fee for international transfers | HK$200 per transaction + bank charges |
| Stop Payment Fee | Fee for stopping a cheque payment | HK$300 per case |
| Return Cheque Fee | Fee for a returned cheque | HK$300 per transaction + default interest |
| Statement Reprinting Fee | Fee for reprinting statements | HK$50 per statement |
| Mailing Statement Fee | Monthly handling fee for mailed statements | HK$50 per month |
GMSL Trading Platform Review
GMSL offers a robust and versatile trading platform tailored to meet the needs of both individual and corporate investors. The platform includes both a mobile and a desktop application, ensuring accessibility and convenience for traders on the go or at the desk.
Web Trading Platform
Global Mastermind Securities Limited (GMSL) offers a Web Trading Platform that provides services for trading Hong Kong stocks and subscribing to IPOs. The platform is accessible online, enabling users to log in and manage their trades conveniently from any web browser. For additional support, users can refer to the provided FAQ section.
Mobile Trading Platform
The Mobile Trading Platform by GMSL allows users to trade Hong Kong stocks and subscribe to IPOs directly from their mobile devices. This platform is designed for on-the-go trading, ensuring that users have access to their investments and market opportunities anytime, anywhere. Users can download the mobile app to start trading.
Software Token
GMSLs Software Token is a mobile application used for two-factor authentication (2FA), enhancing the security of logging into the online trading platform. By registering for the Software Token, users add an extra layer of protection to their accounts, ensuring secure access to their trading activities. Registration and FAQ support are available for users to set up and understand the 2FA process.
Research & Education
The “What's new” section on the website of Global MultiBank Securities Limited serves as an important resource for both research and educational updates related to trading and investment. Heres how this section contributes to investor education and information:
- Market and Regulatory Updates: This includes notifications about changes in commission and charges, adjustments in stamp duty rates, and reductions in transaction handling fees for the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connects. Such updates are crucial for investors to stay informed about cost implications on their trading activities.
- System Enhancements and Maintenance: Regular posts about system maintenance ensure that investors are aware of when trading platforms will be offline, helping them plan their trading activities accordingly. Additionally, updates like the Security Code app notification are indicative of efforts to improve security measures, which is vital for safe online trading.
Customer Service
Global MultiBank Securities Limited offers customer support through various channels to assist their clients effectively.
The company provides a dedicated customer service hotline available at (852) 2763 3939, ensuring direct communication for immediate assistance.
Their office, located in Room 1201-02, 12th Floor, West Tower, Shun Tak Centre, 168-200 Connaught Road Central, Hong Kong, is open from 9:00 am to 6:00 pm, Monday through Friday, closing on Saturdays, Sundays, and public holidays.
Conclusion
Global MultiBank Securities Limited (GMSL) offers a robust trading platform that attracts both individual and corporate clients with a variety of account types including cash and margin accounts.
The firm is recognized for its competitive fee structure, extensive customer support, and a commitment to keeping clients informed through regular updates on market conditions, system enhancements, and regulatory changes.
GMSL's dedication to providing advanced trading tools and secure access points makes it a reliable choice for investors looking to navigate the complex financial markets.
FAQs
What trading platforms does GMSL offer？
GMSL provides a mobile trading app and a software token system, allowing secure and convenient trading of Hong Kong stocks, China Connect securities, and other financial instruments.
How can I contact GMSL customer support？
You can contact GMSL customer support via their hotline at (852) 2763 3939 during office hours, which are from 9:00 am to 6:00 pm, Monday through Friday.
What are the commission fees for trading with GMSL？
GMSL charges a general commission fee starting at 0.20% of the transaction amount with a minimum of HK$80 for Hong Kong securities.
Risk Warning
The information provided is based on WikiStock's expert evaluation of the brokerage's website data and is subject to change. Besides, online trading entails substantial risks, potentially leading to total loss of invested funds, so comprehending associated risks before engaging is crucial.
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