Midas Securities

Midas Securities
WikiStock Rating	⭐ ⭐ ⭐
Fees	Phone trading: Up to 0.15% commission (min HK$68.00);Internet trading: Max 0.08% (min HK$50.00)
Account Fees	Electronic Statement (Default): Free of charge.Physical Daily/Monthly Statement: HK$10.00 per statement.Electronic Statement Resend (Over 3 months): HK$10.00 per statement.Account Confirmation: HK$200.00 per case.
Mutual Funds Offered	Yes
App/Platform	Midas Securities Limited app and online trading platform
Promotions	Not available yet

Midas Securities Information

　　Midas Securities Limited provides a wide range of securities investment services, including stock trading, IPO participation, equity financing, and wealth management. Regulated by the Securities and Futures Commission (SFC) in Hong Kong, Midas Securities ensures adherence to robust regulatory standards, thereby fostering trust and reliability. The availability of phone trading enhances accessibility and offers personalized service, addressing the specific needs of clients. However, the brokerage's lack of live chat support and limited educational resources may hinder investors seeking immediate assistance and comprehensive learning opportunities in navigating the financial markets.

Pros and Cons of Midas Securities

　　Midas Securities is firmly regulated by the Securities and Futures Commission (SFC) in Hong Kong, ensuring adherence to stringent standards in financial services. The brokerage offers the advantage of phone trading, allowing clients to execute transactions with personalized assistance and timely support. Additionally, Midas Securities provides access to initial public offerings (IPOs), enabling investors to participate in new market opportunities.

　　However, a notable drawback is the absence of live chat support, which may limit immediate assistance for clients needing real-time queries resolved. Moreover, while Midas Securities facilitates IPO investments, its educational resources are somewhat limited, potentially hindering comprehensive investor knowledge and strategy development.

Is Midas Securities safe？

　　Regulations

　　Midas Securities is licensed and regulated by the Securities and Futures Commission (SFC) in Hong Kong under license number BIK715.

What are securities to trade with Midas Securities？

　　Midas Securities specializes in trading a variety of financial instruments. They offer a range of Hong Kong listed securities, including stocks, which represent ownership in companies and offer potential returns through capital gains and dividends. Derivative warrants are also available, providing leveraged exposure to underlying assets like stocks. Callable bull/bear contracts allow investors to take leveraged positions on asset price movements, while Exchange Traded Funds (ETFs) track indices or commodities, offering diversification similar to stocks.

　　In the realm of bonds, Midas Securities provides fixed rate bonds that pay periodic fixed interest until maturity, floating rate bonds with variable interest rates adjusted against benchmarks, zero coupon bonds sold at discounts without periodic interest, and callable/extendable bonds offering issuer flexibility to call or extend bond terms as needed.

　　However, they do not provide services for forex and cryptocurrencies.

Midas Securities Accounts

　　Midas Securities offers two main types of accounts to accommodate different client needs:

• 　　Individual Joint Account: This account type is suitable for individual investors or multiple individuals jointly investing. It allows for the trading of various financial instruments such as stocks, bonds, and mutual funds, providing flexibility in managing personal or shared investment portfolios.

• 　　Corporate Account: Designed for corporate entities, this account type facilitates business-related investments and financial transactions.



　　The online account opening process at Midas Securities is straightforward and involves the following steps:

• 　　Visit the Website: Access https://www.midas.com.hk and click on “Securities Account Opening.”

• 　　Verify Email Address: Ensure your email address is correct and accessible.

• 　　Receive Confirmation Code: Obtain a confirmation code via email and use it to fill out the online account opening form.

• 　　Receive Completed Form: The completed account opening form will be emailed to the customer's registered email address.

• 　　Download and Sign: Customers can download and sign the completed form from the email received.

• 　　Submit Documents: Send the signed account opening form along with relevant documents to the company's address: Room 2504-05, 25/F, Chevalier Commercial Center, 8 Wang Hoi Road, Kowloon Bay, Hong Kong.

　　Upon receiving the account opening application, Midas Securities conducts a background check. Once approved by the responsible personnel, customers will receive an email notification of their account opening status. If the application is not approved, customers will also be notified via email. Additionally, customers will receive an email with a temporary online trading password. They can use this password to log into Midas Securities' online or mobile trading platforms, change the password, and complete the account opening process officially.



Midas Securities Fees Review

　　Midas Securities charges competitive fees for trading services as follows: For phone trading, the brokerage fee ranges up to 0.15% with a minimum of HK$68.00 per transaction. Internet trading incurs brokerage fees capped at 0.08% with a minimum charge of HK$50.00. Stamp duty is set at 0.13% and rounded up to the nearest dollar. Transaction levy is 0.0027% rounded up to the nearest cent, while HKEX trading fee is 0.005% also rounded up to the nearest cent. Additionally, the CCASS fee for clearing and trading tariff is 0.005% with a minimum of HK$3.00 per transaction. The FRC levy applies at 0.00015%, rounded up to the nearest cent.



Midas Securities App Review

　　Midas Securities Limited offers a robust online trading platform for executing trades efficiently across various financial instruments. Additionally, they provide the Midas Securities Limited app, available on both Android and iOS platforms, enabling traders to manage investments and execute trades conveniently from their mobile devices.



Customer Service

　　Midas Securities provides robust customer service aimed at addressing client needs promptly and efficiently. Located at Suite 1705, 17/F, Jubilee Centre, 18 Fenwick Street, Wan Chai, Hong Kong, they can be contacted via phone at +852-25276966, WhatsApp at +852-59149680, and through WeChat using ID: midas_settlement. For inquiries and assistance, clients can also reach out via email at cs@midas.com.hk.



Conclusion

　　Midas Securities, regulated by the Securities and Futures Commission (SFC) in Hong Kong, emphasizes stringent adherence to regulatory standards, ensuring trust and reliability for investors. The brokerage distinguishes itself with personalized phone trading services, providing clients with tailored assistance and efficient transaction execution. Investors benefit from access to initial public offerings (IPOs), offering opportunities to participate in new market ventures. Midas Securities is well-suited for clients seeking hands-on support and direct involvement in IPOs. However, it lacks live chat support for immediate queries and has limited educational resources, potentially hindering comprehensive investor knowledge and strategy development.

FAQs

　　Is Midas Securities safe to trade？

　　Midas Securities is licensed and regulated by the Securities and Futures Commission (SFC) in Hong Kong under license number BIK715. However, prospective traders should note that specific details regarding fund safety and additional safety measures are not readily available from public sources.

　　Is Midas Securities a good platform for beginners？

　　While Midas Securities offers versatile trading platforms, it may not be the most suitable choice for beginners due to a lack of comprehensive educational resources. Beginners seeking structured guidance and learning opportunities might find the platform challenging to navigate independently.

　　Is Midas Securities legit？

　　Midas Securities is duly licensed and regulated by the Securities and Futures Commission (SFC) in Hong Kong under license number BIK715, affirming its legitimacy within the regulatory framework of Hong Kong.

Risk Warning

　　The information presented reflects WikiStock's expert assessment of the brokerage's website data and may evolve over time. Additionally, online trading carries significant risks, including the potential for total loss of invested capital. It is essential for investors to fully understand these risks before participating in trading activities.