You can deposit funds to CHIEF's US dollar account with your bank account in Hong Kong via online banking, phone banking, transfer service or cheque. If you do not have a bank account in Hong Kong, you can deposit to CHIEF's account through telegraphic transfer. You can also deposit Hong Kong dollars to your account through internal transfer and exchange to US dollars. Note that internal transfers and currency exchange services are suspended during 15:00 to 18:00 daily.
The price of some certain US stocks could be over a thousand dollars. If you are optimistic about US stocks, you can purchase a long call stock option instead of buying the underlying stock which lowers the trading cost and increases the leverage. Long call stocks options bear an advantage of ‘infinite profit maximization, limited financial loss’. When the underlying stock rises, the potential gain can be infinite. When the underlying stock falls, the maximum loss is only the option premium.
Client can make transfers before 15:00 on the trading day (Hong Kong time) via Top Trader Professional version → Cash Withdraw → Internal Transfer; or perform a currency exchange on ‘Chief Trader’ mobile APP; or call the Withdrawal Hotline at (852) 2500 9180.
This can be done through the ‘Chief Trader’ mobile APP. Select ‘All Services’ → Account (Modification) → add a US dollar bank account (for currency, please select US dollars) and withdraw funds in the system after it takes effect. Please note that US dollars will be deposited to your registered bank by cheque, and the money will be available after approximately 15:00 on the next working day. (Customers who have opened an account online should visit a branch to unlock and add a US dollar account.)
As US stocks are settled on T+2, the money for selling stocks can only be withdrawn or transferred after two trading days. If the client wants to use this money to purchase stocks, please consider placing a trade instruction via phone first (please note that related fees will be charged based on a phone trade).
Yes, first you need to notify the bank/securities firm where the US stocks are deposited to arrange the delivery of stocks to CHIEF, then you can use ‘CHIEF Trader’ mobile APP to deposit US stocks into CHIEF or call Customer Support Centre at (852) 2500 9199 for assistance.
US stocks that are transferred by DTC instruction to CHIEF won’t incur any additional fees, however transferring stocks out of CHIEF will incur a DTC instruction fee.
Eligible clients can use a “Free Real-time U.S. Stock Quote Service” within the specified period, please check for any updates.
CHIEF supports stock placements 3 hours before and 2 hours after the US stock market opens, opening times for US stock trading is as follows:
|Period||Trading time (Hong Kong Time (HKT))|
|Daylight saving time (mid March to early November)||Standard Time (early November to mid March)|
|Pre-market trading period||18:30 – 21:30 HKT||19:30 – 22:30 HKT|
|Standard trading period*||21:30 – 04:00 HKT||22:30 – 05:00 HKT|
|Extended hours trading period||04:00 – 06:00 HKT||05:00 – 07:00 HKT|
*Note: There is no afternoon break in trading for US stocks
In the event of a Hong Kong holiday on a US stock market trading day, trading services will still be provided as usual.
If the settlement date of the US stocks traded falls on a Hong Kong holiday, the settlement of the relevant transaction funds/ stocks will not be affected.
Stop-loss orders can be set up for US stocks, client should note that stop-loss orders do not cover pre-market and after-market trading hours. Also, since the stop-loss order is subject to price supervision by the US brokerage, if the stop-loss order is not executed after the stop-loss order is set, the US brokerage will not be responsible and client should be aware of the risks involved.
Yes, if there are insufficient US dollars in the account and there are holdings in the US stocks, you can buy stocks at the margin of the position value and interest on the balance will not be calculated if the funds are deposited within two days. Please refer to the stock margin table for marginable stocks and marginable values.
If the client does not want to accidentally use the margin amount to buy stocks, they can call the Customer Support Centre to set the account loan limit to zero. If the account does not have enough money, they cannot buy stocks.
Since your US stock account is a margin account, CHIEF may re-pledge the client's securities collateral to obtain financial accommodation.
US stocks are required to pay 30% dividend tax when dividends are paid and dividend tax will be automatically withheld upon dividend payment. Some stocks/ ETFs/ ETNs will be automatically refunded by US brokers from time to time to customers who have stocks at the time of netting.
CHIEF does not currently provide short selling services for US stocks.
Foreign investors who invest in Singapore shares are not required to pay profits tax and dividends distributed by corporates.
There is no minimum account opening amount, but you need to deposit investment capital for transactions.
In addition to stocks, the Singapore market offers a vast variety of Real Estate Investment Trusts (REITs) , and Exchange Traded Funds (ETFs). Moreover, Singapore offers many renowned American Depositary Receipts (ADRs), such as BIDU (Baidu), CTRP (Ctrip), DCM (NTT DOCOMO), MFG (Mitsubishi UFJ Financial Group) and others.
You can order with equivalent purchase of US dollars/Singapore dollars in global securities account. When you inform us after completion, we will exchange the US dollars to Singapore dollars for transaction.