Rating Index
Pros
Trusted financial institution regulated by the Hong Kong Securities and Futures Commission (SFC), ensuring a high level of oversight and safety for clients' funds.
User-friendly account opening process with professional customer service that is responsive to inquiries.
Access to a variety of financial products, including the Hang Seng Index, which offers exposure to major companies in Hong Kong and China.
Cons
Some reviews indicate concerns about potential high risks associated with trading services, which may not be suitable for all investors.
Limited product offerings compared to some international brokers, which may restrict diversification options for traders.
Reports of issues related to account access and withdrawal processes, raising concerns about the reliability of their trading platform.
Hang Seng Bank broker Accounts
Hang Seng Bank Account Types
Hang Seng Bank offers several types of trading accounts tailored to different customer needs, including:
Simply Stock: Designed for young investors aged 18 to 30, this account features a $0 brokerage fee for trades up to HKD 300,000, with a monthly fee of HKD 30. No hidden fees are charged, and if no trades are made in a month, no monthly fee is incurred.
New Securities Account: This account is available for new customers who do not hold any securities account with the bank for the preceding six months. It provides unlimited $0 brokerage fees on HK stocks and stock connect securities for three months from account opening.
Existing Securities Account: For existing customers without US stocks buy/sell trades executed in the past six months, this account allows unlimited $0 brokerage fees on US stocks for three months.
Monthly Investment Plan for Stocks: This account allows customers to invest in stocks with a minimum monthly contribution of HKD 1,000. The first-year handling fee is waived for eligible customers.
Prestige and Preferred Banking Accounts: These accounts offer more comprehensive services, including investment solutions and wealth strategies, but require maintaining a minimum balance.
Eligibility Check: Ensure you meet the minimum age requirement of 18 years and have the necessary identification and address verification documents.
Choose an Account Type: Decide which type of account best suits your investment needs, such as Simply Stock or New Securities Account.
Prepare Documentation: Gather required documents, which may include:
- Hong Kong Identity Card or Passport
- Proof of address (utility bills or bank statements)
- Online Application:
- For new customers, download the Hang Seng Personal Banking mobile app and select "mobile account opening."
- Fill in your personal details and submit the application.
Branch Visit: If required, make an appointment to visit a branch to complete the account opening process. Bring your identification and any additional documents needed.
Confirmation: After the application is submitted, you will receive confirmation and can start using your account once it is activated, typically within 2 to 3 working days.
Hang Seng Bank Broker Account Opening Process
To open a trading account with Hang Seng Bank, follow these steps:
For more detailed information, visit Hang Seng Bank.
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