Hafoo Securities Forex Broker

Hafoo Securities Review SummaryFounded2004Registered Country/RegionHong KongRegulationSFC (Suspicious Clone)Market InstrumentSecuritiesDemo Account✅Trading PlatformHafoo APP, Hafoo webCustomer Support24/7 supportChinese Mainland: (86) 400-920-1822Hong Kong: (00852) 2111-2681Email: cs@hafoo.com.hkAddress: Room 3203, 32/F, Admiralty Centre, 18 Harcourt Road, Admiralty, Hong KongHafoo Securities Information Hafoo Securities is a service provider of premier brokerage and financial services, which was founded in Hong Kong in 2004. The broker offers products and services for securities, financial e-commerce services, financial data services, etc. However, it holds a suspicious clone SFC license, and potential risks are relatively high.Pros and ConsPros Cons Demo accountsSuspicious clone SFC licenseLong operation timeCommission fees chargedVarious contact channelsNo popular payment optionsIs Hafoo Securities Legit? Hafoo Securities is licensed by Securities and Futures Commission of Hong Kong to offer services but the current status is suspicious clone. Its license number is BJP084. The Securities and Futures Commission (SFC) is an independent statutory body set up in 1989 to regulate Hong Kong's securities and futures markets.Regulated CountryRegulatorCurrent StatusRegulated EntityLicense TypeLicense No.The Securities and Futures Commission (SFC)Suspicious CloneHafoo Futures LimitedDealing in futures contractsBJP084Products and Services Hafoo Securities offers securities trading and services in financial e-commerce and financial data.Hafoo Securities Fees Hong Kong StocksFee TypeCostChargerTrading commissionTransaction amount*0.025%, minimum HKD 5/orderHafu SecuritiesPlatform usage feeHK$15/orderHafu SecuritiesGovernment stamp dutyTransaction amount*0.1%, each transaction with a digit less thpanHK$1 will be counted as HK$1Hong Kong GovernmentSFC transaction levyTransaction amount*0.0027%, minimum HKD 0.01 per transactionHong Kong Securities andFutures CommissionTransaction levy of the Finance BureauTransaction amount*0.00015%, minimum HKD 0.01 pertransactionHong kongAssociation ofFinance BureauStock exchange transaction feesTransaction amount*0.00565%, minimum HKD 0.01 per transactionHong KongExchanges andClearing LimitedSettlement feeTransaction amount*0.002%, minimum HKD 2 per transaction,maximum HKD 100Hong kongSecurities ClearingHouseTrading system usage feeHK$0 per transactionHong KongExchanges andClearing LimitedStamp duty on loan/retumn of securitiesTransaction amount*0.1%, if the balance of each transaction isless than HK$1, it will be rounded up to HK$1(if the registration with the tax bureau is successful, the stampduty on borrowing/returning securities will be waived)Hong KongGovernment US StocksFee TypeCostChargerTrading commission0.49 cents per share, minimum 0.99 USD pertransactionHafu SecuritiesPlatform usage fee0.5 cents per share, minimum $1 per transactionHafu SecuritiesSettlement fees0.3 cents per share, minimum 0.01 US dollarsUS stock settlement agencySFC feesTransaction amount*0%SECTrading activity fee0.0166 cents per share, minimum 0.01 USD, maximum 8.3 USD (collected only when selling)FINRAADR (American Depositary Receipt) feesTypically $0.01 to $0.03 per shareTrust Company (DTC)Dividend tax collectionResidents of Mainland China: Dividend*10%US GovernmentResidents of Hong Kong and other regions: Dividend*30% Stocks through Shanghai-Shenzhen stock connectFee TypeCostChargerTrading commission0.025%, minimum RMB 5Hafu SecuritiesPlatform usage feeRMB 15/transactionHafu SecuritiesStamp duty0.05%, minimum RMB 0.01 (charged only when selling)governmentHandling fee0.00341%,minimum RMB 0.01ExchangesSecurities management fee0.002%, minimum RMB 0.01Securities and Futures CommissionTrading PlatformTrading PlatformSupported Available Devices Hafoo APP✔MobileHafoo web✔PC, webDeposit and Withdrawal The broker accepts payments done via Minsheng Bank Hong Kong Branch, China Merchants Bank Hong Kong Branch, Industrial and Commercial Bank of China (Asia), and CMB Wing Lung Bank. No minimum withdrawal amount defined and no fees or charges specified.