NNOVATION SECURITIES CO., LIMITED is securities brokerage company in Hong Kong. The company has acquired license from Securities and Futures Commission (“SFC”) (CE.No: BGN 336), and Participantship of The Stock Exchange of Hong Kong Limited (“SEHK”) (Broker No.5569) and Hong Kong Securities Clearing Company Limited (“HKSCC”), and will dedicated to provide securities brokerage - cash and margin account services to its clients, which includes retail, High Net Worth, Corporate and Institutional clients. Depending on the clients’ background, experience, objectives and needs, professional investment advice / market commentary will be made available incidentally for the business of securities brokerage.
What is INNOVATION SECURITIES？
INNOVATION SECURITIES is a reputable brokerage firm that offers a variety of trading products and services to individual and institutional investors. The firm's low fees, user-friendly trading app, and wide range of trading products make it a good choice for many investors. However, some investors may be disappointed by the firm's limited customer support.
Pros and Cons of INNOVATION SECURITIES
Pros
Low Fees: INNOVATION SECURITIES offers some of the lowest fees in the industry, making it an attractive option for cost-conscious investors. Their commission structure varies depending on the security and market, but starts as low as $2 per trade. This can be a significant advantage for frequent traders or those investing in smaller amounts.
User-Friendly Mobile App: INNOVATION SECURITIES provides a mobile app that allows clients to manage their accounts conveniently. The app offers features like real-time quotes, transaction history, and the ability to buy and sell securities. Additionally, secure login with fingerprint or PIN protection and free OTP transaction signing enhance user experience.
Wide Range of Tradable Securities: INNOVATION SECURITIES offers a diverse selection of tradable securities, including stocks, bonds, ETFs, and options. This allows investors to build a well-diversified portfolio across various asset classes and markets, including Hong Kong, China, Singapore, North America, and Europe.
Strong Regulatory Oversight: INNOVATION SECURITIES is regulated by the Securities and Futures Commission (SFC) of Hong Kong, a well-respected financial authority. This provides investors with a degree of security and assurance knowing the brokerage operates under strict regulations.
Client Money Protection: INNOVATION SECURITIES is a member of the HKFE's Client Money Protection Scheme (CMPS). This scheme protects clients' money held by HKFE members in case of the brokerage's insolvency, offering compensation up to HKD 800,000 per account. Additionally, INNOVATION SECURITIES has its own insurance policy for further protection, bringing the total coverage to HKD 1,000,000 per account.
Cons
Limited Customer Support (Hours): INNOVATION SECURITIES customer support is only available via hotline (00852-3105 9995) from 9:00 AM to 5:30 PM Hong Kong time, Monday through Friday. This may be inconvenient for investors in other time zones or those needing assistance outside these hours.
App has not been updated since 2018: While the INNOVATION SECURITIES app offers useful features, there are concerns it has not received updates since 2018. This could potentially lead to compatibility issues or lack of new features available in competitor apps.
Account Inactivity Fee After 3 Months: INNOVATION SECURITIES charges a HKD 20 monthly account management fee for accounts inactive for more than 3 months. This can be a hidden cost for investors who do not trade frequently.
Is Victory Securities Market safe？
Regulations
INNOVATION SECURITIES is regulated by the Securities and Futures Commission (SFC) of Hong Kong. The SFC is an independent body that oversees Hong Kong's securities and futures markets. INNOVATION SECURITIES holds two licenses from the SFC: one for trading securities (License No. BGN336) and another for providing investment advisory services (License No. BQJ917).
Funds Safety
INNOVATION SECURITIES is a member of the Hong Kong Securities and Futures Exchange (HKFE) and is therefore required to participate in the HKFE's Client Money Protection Scheme (CMPS). The CMPS is a statutory scheme that provides protection for clients' money held by HKFE members. In the event of an HKFE member's insolvency, the CMPS will compensate clients for their losses up to a maximum of HKD 800,000 per account.
In addition to the CMPS, INNOVATION SECURITIES also has its own insurance policy that provides additional protection for clients' money. The insurance policy covers losses up to a maximum of HKD 200,000 per account.
Therefore, the total protection for clients' money held by INNOVATION SECURITIES is HKD 1,000,000 per account.
Safety Measures
INNOVATION SECURITIES safeguards client accounts with two-factor authentication (2FA) for logins and encrypts all client data to protect against unauthorized access and information leaks.
In addition to segregated accounts, INNOVATION SECURITIES utilizes firewalls, intrusion detection systems (IDS), and data loss prevention (DLP) to safeguard client funds. Firewalls block unauthorized internet access, IDS identifies and thwarts suspicious network activity, and DLP hinders both accidental and intentional data leaks.
What are securities to trade with INNOVATION SECURITIES
Innovation Securities is a global brokerage firm that offers a wide range of securities to trade, including stocks, bonds, ETFs, and options. The firm has offices in Hong Kong, China, and Singapore, and it provides access to markets in Asia, North America, and Europe.
Innovation Securities' A-shares market offers access to stocks listed on the Shanghai Stock Exchange. The firm's US market offers access to stocks listed on the New York Stock Exchange (NYSE) and Nasdaq. Innovation Securities also offers access to markets in Indonesia, Singapore, Tokyo, Malaysia, and Thailand.
In addition to its brokerage services, Innovation Securities also offers corporate finance services, including mergers and acquisitions, divestitures, privatizations, IPOs, bond issuances, placements, rights offerings, re-listings, stock incentive plans, and de-SPACs. The firm also provides restructuring solutions, strategic investor introductions, and IPO feasibility studies.
INNOVATION SECURITIES Fees Review
INNOVATION SECURITIES charges a variety of fees for its services, including commissions, exchange fees, and regulatory fees. The specific fees charged will vary depending on the type of security being traded and the market where it is traded. For example, the commission for trading Hong Kong stocks is 0.15%, while the commission for trading US stocks is $0.01-$0.05 per share. INNOVATION SECURITIES also charges fees for services such as stock transfers, proxy voting, and dividend collection. In addition, INNOVATION SECURITIES charges an account management fee of 20 HKD per month for accounts that are inactive for more than 3 months.
Here is a table summarizing the fees for INNOVATION SECURITIES' most popular trading services:
INNOVATION SECURITIES App Review
INNOVATION SECURITIES offers a mobile app that allows clients to manage their investment accounts on the go. The app provides users with real-time quotes, transaction history, and the ability to buy and sell securities. It also features secure login with fingerprint or PIN protection and free OTP transaction signing, even without an internet connection. The app is available for download on both iOS and Android devices.
Research and Eduation
INNOVATION SECURITIES offers a variety of educational resources to help clients learn about investing. These resources include articles, videos, and webinars on a wide range of topics, such as how to trade stocks, how to invest in mutual funds, and how to manage risk. The firm also offers a dedicated section on its website for Hong Kong stocks, which includes information on the Hong Kong stock market, how to trade Hong Kong stocks, and the risks involved in investing in Hong Kong stocks. INNOVATION SECURITIES' educational resources are a valuable resource for investors of all levels of experience.
Customer Service
INNOVATION SECURITIES offers customer support through a variety of channels, including a hotline, email, and a WeChat public account. The hotline (00852-3105 9995) is available from 9:00 AM to 5:30 PM Hong Kong time, Monday through Friday. Customers can also email their questions to cs@innovationsec.com. The WeChat public account can be used to access customer support information and resources, as well as to contact a customer service representative directly.
Conclusion
INNOVATION SECURITIES stands out as a competitive brokerage option for cost-conscious investors seeking a user-friendly trading experience. Its low fees, particularly for Hong Kong and US stocks, make it an attractive choice for frequent traders or those investing in smaller amounts. The user-friendly mobile app further enhances convenience, allowing clients to manage their accounts on the go.
FAQs
How safe is my money with INNOVATION SECURITIES？
NNOVATION SECURITIES is regulated by the Securities and Futures Commission (SFC) of Hong Kong and is a member of the HKFE's Client Money Protection Scheme (CMPS).They also have their own insurance policy for additional coverage.
Does INNOVATION SECURITIES offer customer support？
Yes, INNOVATION SECURITIES offers customer support via hotline and email. However, their support hours are limited to weekdays from 9:00 AM to 5:30 PM Hong Kong time.
Are INNOVATION SECURITIES a good fit for all investors？
INNOVATION SECURITIES satisfies cost-conscious investors, active traders, and those seeking global exposure.
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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