Established in 1976, Siu On Securities Limited (SFC CE Number: ADC035) is an exchange participant of the Stock Exchange of Hong Kong Limited as well as a registered Hong Kong securities dealer. Through its traditional and online trading platforms, Siu On Securities provides securities brokerage and other securities related services to our private retail and high net worth clients.
What is Siu On Securities？
Siu On Securities Limited, established in 1976, is a Hong Kong-based brokerage firm regulated by the Securities and Futures Commission (SFC). It offers a comprehensive suite of financial services, including securities brokerage, futures contracts, and securities margin financing, with user-friendly online and phone trading platforms. However, some of their fees, such as those for phone trading, may be considered high by some investors.
Pros and Cons of Siu On Securities
Siu On Securities offers a range of robust services and platforms designed to cater to both novice and experienced investors. Regulated by the SFC, the firm ensures adherence to strict regulatory standards, providing a secure trading environment. Their comprehensive customer support and user-friendly online trading platform are significant advantages. However, detailed information about insurance coverage for client funds is not explicitly mentioned, which could be a concern for some investors. Additionally, while their fee structure is transparent, some fees, such as those for phone trading and certain services, may be considered high.
Is Siu On Securities safe？
Siu On Securities Limited is regulated by the Securities and Futures Commission (SFC) of Hong Kong, ensuring it adheres to strict regulatory standards and practices. The SFC oversees financial firms in Hong Kong to maintain market integrity, protect investors, and ensure fair and efficient financial markets. As a regulated entity, Siu On Securities complies with SFC regulations regarding financial reporting, operational procedures, and client fund management, providing an additional layer of security for its clients.
Regarding fund safety, Siu On Securities maintains measures to safeguard client funds, but specific details about insurance for client accounts and coverage limits are not explicitly mentioned. Clients should directly inquire with Siu On Securities for detailed information on any insurance policies and the extent of coverage for their funds. Generally, regulated firms in Hong Kong must segregate client funds from their operational funds to prevent misuse.
In terms of safety measures, Siu On Securities implements robust security protocols, including two-factor authentication (2FA) through the “iAsiaToken” app. To set up 2FA, clients need to install the “iAsiaToken” app from the Apple App Store or Google Play. Upon the first opening, users must create a password for security. After installation, the app must be linked to the internet trading account by scanning a QR code provided in a registration email. Once successfully registered, the app will generate a one-time password every 30 seconds for secure login, enhancing account security.
These measures ensure that Siu On Securities provides a secure trading environment, aligning with regulatory requirements and implementing advanced security technologies to protect client information and assets.
Products and Services of Siu On Securities
Siu On Securities Limited, established in 1976, is an exchange participant of the Stock Exchange of Hong Kong and a registered Hong Kong securities dealer. The company provides a range of services through its traditional and online trading platforms.
Siu On Securities offers a comprehensive suite of financial services, starting with securities brokerage. This service includes trading in various types of securities such as stocks listed on the Hong Kong Stock Exchange. Additionally, the company deals in futures contracts, providing opportunities for hedging and speculation in different markets.
Another key service provided by Siu On Securities is securities margin financing. This allows clients to borrow funds to trade securities, thereby leveraging their investment potential. The company also extends its expertise to asset management, helping clients manage their investment portfolios effectively.
Furthermore, Siu On Securities offers advisory services on corporate finance, futures contracts, and securities. These offerings cater to private retail clients as well as high net worth individuals, ensuring a broad range of investment needs are met.
Siu On Securities Fees Review
Siu On Securities Limited has a detailed fee schedule for various services associated with trading and account management.
The stamp duty is charged at HK$1.30 for every HK$1,000 of the transaction amount or part thereof, with no minimum charge. The transaction levy is set at 0.0027% on the transaction amount, again with no minimum charge. There is no charge for the investor compensation levy.
For trading fees, a rate of 0.05% on the transaction amount is applied. Brokerage fees differ based on the mode of trading; phone trading incurs a brokerage fee of 0.20% on the transaction amount with a minimum charge of HK$100.00, while internet trading is cheaper at 0.10% on the transaction amount with a minimum charge of HK$50.00. The CCASS fee is 0.06% on the transaction amount with a minimum charge of HK$2.00.
Regarding transfer stamp duty deeds, there is a fee of HK$5.00 for each transfer deed. A physical stock deposit incurs a fee of HK$20.00 per stock. The registration by registrar charges HK$2.00 per board lot or odd lots.
For dividend collection, both cash or scrip dividends incur a nominee service fee of 0.5% on the dividend amount, with an additional HKSCC charge of 0.12% on the dividend amount. There is a fixed charge of HK$30.00 for each collection of bonus shares under the nominee service fee.
Corporate actions service fees are HK$0.80 per board lot or odd lots with a minimum charge of HK$10.00. Stock withdrawal fees include a fee of HK$3.50 per board lot or odd lots, a nominee service fee of HK$50.00, and a registration nominee service fee of HK$100.00.
The handling fee for EIPO is HK$40.00 per instruction. For overdue interest on cash accounts, an annual rate of P + 5% is applied, based on simple interest each day. The annual fee for paper statements is HK$200.00, and the account maintenance annual fee is also HK$200.00 if there are no buy/sell transactions for the entire calendar year.
All charges are subject to change without prior notice. For the settlement of securities, clients must submit their net settlement amount by the settlement date, either by submitting a cheque payable to Siu On Securities Limited before noon or depositing the full amount to their Hang Seng Bank account before 4 PM.
Siu On Securities App Review
Siu On Securities Limited offers a robust suite of trading platforms designed to cater to different investor needs, providing both traditional and online trading options.
The primary online trading platform is designed to be user-friendly and efficient, allowing clients to trade a wide variety of securities including stocks, futures, and other financial instruments listed on the Hong Kong Stock Exchange. This platform offers features such as real-time market data, advanced charting tools, and various order types to accommodate different trading strategies.
For more traditional trading needs, Siu On Securities provides phone trading services, enabling clients to place orders and manage their investments through direct communication with brokers. This service is particularly useful for clients who prefer personalized assistance or those who are not as comfortable with online trading.
Both platforms are integrated with robust security measures to ensure the safety of client data and transactions. Additionally, the online platform includes educational resources to help traders improve their skills and make informed investment decisions.
Customer Service
Siu On Securities Limited offers comprehensive customer support designed to assist clients with their trading and investment needs. Their customer service can be reached via phone at +852 2545 0332, by fax at +852 2854 0651, or through email at securities@siuon.com. The support team is equipped to handle a variety of inquiries, from account management and trading issues to detailed questions about their financial products and services. This direct communication channel ensures that clients receive timely and personalized assistance, enhancing their overall trading experience.
Conclusion
Siu On Securities Limited, established in 1976, is a well-regulated Hong Kong-based brokerage firm under the Securities and Futures Commission (SFC). It provides a wide range of financial services, including securities brokerage, futures contracts, and margin financing, with user-friendly online and phone trading platforms. While the firm offers comprehensive and secure trading services, some of its fees, particularly for phone trading, may be higher than average, which could be a consideration for cost-sensitive investors.
FAQs
Is Siu On Securities safe to trade？
Yes, Siu On Securities Limited is safe to trade with as it is regulated by the Securities and Futures Commission (SFC) of Hong Kong. This regulatory oversight ensures the firm adheres to strict standards regarding financial reporting, operational procedures, and client fund management, providing an additional layer of security for traders.
Is Siu On Securities a good platform for beginners？
Siu On Securities offers a user-friendly online trading platform with advanced tools and real-time data, making it accessible for both novice and experienced traders. Additionally, the platform includes educational resources to help beginners improve their trading skills and make informed investment decisions.
Is Siu On Securities legit？
Yes, Siu On Securities Limited is a legitimate brokerage firm, established in 1976 and regulated by the SFC. It has a long-standing reputation in the Hong Kong financial market, providing a wide range of financial services and maintaining robust security measures to protect client information and assets.
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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