Frequent Asked Questions
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Monthly Investment Plan
How can I enjoy the "Commission Fee Waiver for Online Monthly HK Stocks Investment Plan?

From now customers applying for Monthly HK Stocks Investment Plan by online application will enjoy commission fee waiver for the first $10,000 of the monthly instalment of each stock, while a 0.0675% commission fee will be charged for the remaining instalment amount, with no minimum charge. Customers only need to pay stamp duty, HKEX trading fee, SFC transaction levy and CCASS stock settlement fee. Offline application is not eligible for this offer.

Examples:

  1. Suppose there is an online application for a HK$10,000 monthly investment in Stock C, the commission fee will be fully waived.
  2. Suppose there is an online application for an $11,000 monthly investment in D shares, the commission fee of HK$1,000*0.0675% = HK$0.675, HK$0.675 will be charged.
How can I apply for the "Monthly HK Stocks Investment Plan"?
  1. Open a CHIEF securities account
  2. Apply via “Chief Trader” Mobile APP (Android or iOS)
  3. Client required to deposit the contribution amounts to HK Stock account before Monthly Purchase Date
Is there any minimum contribution period for Monthly HK Stocks Investment Plan?

No. We will purchase the stocks of your choice and deposit them into your HK Stock account every month. You can sell the stocks according to your personal needs after clearing, while you also enjoy the flexibility to suspend or terminate your contribution.

Will I receive dividends from my selected stocks?

The rights and interests you enjoy after participating in the "Monthly HK Stocks Investment Plan", including dividends, bonus shares and other payments will be no different from ordinary stockholders.

What should I do if I can't find my target stock on the Stock list for Monthly HK Stocks Investment Plan?

The existing list are only supported the selected stocks, please provide suggest stock and we will add to the stock list, if the selected stocks meet the conditions.

What happens if my selected stock is suspended from trading on the "Monthly Purchase Date"?

If the stock of your choice is suspended from trading on the “Monthly Purchase Date", the monthly plan will be automatically suspended for once. The relevant installment will be deposited into your HK Stocks Account (no transaction fees will be deducted).

I can only sell the stocks in board lots?

No. However, the shares purchased through this plan are likely odd lots, for which the prices are usually at a certain discount off the market prices. You can set up "board lots" for target balance.

Can I make changes on the plan?

For the changes in installment amount, stock portfolio or termination, i) Application via Chief Trader Mobile APP can be submitted before 08:30 a.m. of the "Day of payment“; ii) "Monthly HK Stocks Investment Plan" application form should be filled and submitted to Chief Securities before the 25th of each month, which will be processed on the upcoming “Monthly Purchase Date".

How can I set the target number of shares?

The target number of shares does not include manual purchase, bonus shares, and the number of stocks deposited through settlement instructions (SI / ISI). The system will only buy the relevant stocks according to the target number of shares you set.

Example 1: You deposit 300 shares in SI / ISI, and set the target number of shares to 1,000, and the total number of shares when you plan to meet the standard is 1,300.

Example 2: Your account has some odd shares (355 shares) and you want to consolidate the number of shares (1,000 shares), you can set the new instructions and the new target number of shares to 645 shares. Then the total number of shares will be 1,000 shares when the plan is set.

How can I subscribe to the Monthly US Stocks Investment Plan?

For new clients, you can open a Global Stock Account through “E-Account Opening”, or visit our Head Office or any branch to open a Global Stock Account for Monthly US Stocks Investment Plan. You can subscribe the *Monthly US Stocks Investment Plan through “CHIEF Trader” Mobile APP (Android or iOS).

For existing HK Stock Account clients, you can add a Global Stock Account Service and subscribe the Monthly US Stocks Investment Plan through “CHIEF Trader” Mobile APP.

* Monthly US Stocks Investment Plan is only available for online subscription.

When will the contribution amount of the Monthly US Stocks Investment Plan be deducted?

The contribution amount will be deducted directly from Client’s Global Stock Account at 15:00 of the fifteenth HK Stock Trading Day of each month (“Monthly Purchase Date”). If that day is a non-trading day for HK Stock Market and/or US Stock market, the Monthly Purchase Date will be postponed to the next trading day for both markets.

Client must ensure that Client’s Global Stock Account has sufficient US dollar cash balance and/or purchasing power on the Monthly Purchase Date to cover the Contribution Amount.

How can I enjoy the "$0 Commission Fee Online MIP Offer”?

During the promotion period, clients successfully subscribe the Monthly US Stocks Investment Plan through “CHIEF Trader” Mobile APP, can enjoy commission fee waiver for the first US$1,000 of monthly contribution of each stock (*the “Offer”). All subsequent monthly contributions will be subjected to standard commission fees (i.e. 0.15%). Each selected stock is independently calculated for commission fee waiver and the number of stock(s) are unlimited.

Clients who has subscribed the Monthly US Stocks Investment Plan before promotion period are entitled to enjoy the Offer automatically.

The Offer is subjected to the Terms & Conditions. Please Click here for details.

If the Global Stock Account has insufficient cash balance, will monthly contribution be made?

Global Stock Account is a margin account. If the Global Stock Account has a marginable value, the purchasing power will be used to make monthly contribution. Client will remain liable for any resulting deficit in the account and interest charged on the account.

What happen if my contribution amount is less than the price of one share?

There is a minimum of buying one share for each stock in Monthly US Stocks Investment Plan. If the contribution amount is not sufficient to buy one share, or the stock price goes up which exceeded the contribution amount, the selected stock will not be purchased and the monthly contribution for that month will be automatically suspended once. The relevant amount will be remained in client's global stock account (no transaction fees will be deducted).

Please check the stock quote before setting the contribution amount.

Which US stocks can I select through Monthly US Stocks Investment Plan?

Over 100 US stocks and ETF are available for the Monthly US Stocks Investment Plan. If you have any US stock suggestions other than those listed, feel free to contact us.

How can I amend my Monthly US Stocks Investment Plan, for example, amend the US stocks or monthly contribution amount?

Clients who wish to vary the contribution amount, investment portfolio, or terminate the plan should submit such application through “CHIEF Trader” Mobile APP before 2:00 pm of the fifteenth HK Stock Trading Day of each month. Any application submitted on or after this time will be handled next month.

How to deposit the contribution amount of Monthly US Stocks Investment Plan into Global Stock Account?

You can deposit fund to CHIEF's bank account listed below with your personal bank account in Hong Kong using online banking, phone banking, transfer service and cheque. If you do not possess any bank account in Hong Kong, you can deposit to CHIEF's bank account listed below through telegraphic transfer. You can also deposit Hong Kong dollar to your securities account through “Chief Trader” Mobile APP internal transfer and exchange to US dollar.

  • HSBC 741-033393-838 (Multi-Currency)
  • HANG SENG BANK 239-560576-883 (Multi-Currency)
  • BANK OF CHINA 012-875-9-244782-6 (Multi-Currency)
How do I know the exchange rate for currencies conversion?

Select “Internal Transfer” and transfer to Global Stock Account at “Top Trader” or “Chief Trader” Mobile APP, the exchange rate will be shown on the confirmation page. The currencies conversion on the appointed date is not available.

Can I enjoy the ‘US stock trading commission rebate offer’ at the same time?

Eligible clients who successfully complete a monthly US stocks investment plan trade and complete a US stocks trade over phone or online in the same month will receive a US$4 rebate on commissions, with a maximum rebate of US$100 per month.

Is there a minimum contribution period for the monthly US stocks investment plan? What is the minimum contribution amount?

There is no minimum contribution period for this plan. The minimum contribution amount is US$100 with US$50 as one unit and the fifteenth Hong Kong stock trading day of each month as the purchase date.

Why can’t I find the stock that I want to invest in the Monthly US Stocks Investment Plan List?

If the client have other suggestions for US stocks, feel free to contact us. CHIEF will include the stocks according to demand into the list in the next round.

What happens if my selected stock is suspended on the ‘Monthly Purchase Date’?

If the stock selected by the client is suspended on the ‘Monthly Purchase Date’, the monthly investment plan will be automatically suspended once. The relevant contribution will be deposited into the client's Global Stock Account (no transaction fees will be deducted).

If the stock price increases over the contribution amount of the monthly investment plan at the time of purchase and the contribution amount is insufficient in buying one share, will the transaction be cancelled? Can the contribution be accumulated to purchase the stock in the next month?

If the amount is insufficient to purchase one share during the trading period, the monthly investment plan selected by the client will be automatically suspended once and the contribution amount will not be accumulated to the next month. The relevant contribution will be deposited into the customer's Global Stock Account (no transaction fees will be deducted).

What is the difference between ‘suspend’ and ‘terminate’ in the monthly investment plan system? Will there be charges for suspending the monthly contribution?

When clients choose ‘suspend’, they can put a temporary stop on the monthly contribution of the stock from the following month until they choose to restart, and the average contribution of the stock will continue to accumulate; if clients choose ‘terminate’ on the stock, subsequent applications of the same stock will require a recalculation of the monthly contribution. There is no charge for suspending monthly payments.

Is the target number of shares under the monthly investment plan a one-month target or the target of the entire plan? What happens if I set a goal of one share?

The target number of shares is the goal of the entire plan. Assuming that the target number of shares is one share, when the supply of one share is completed, the monthly investment plan will be completed and monthly contributions will cease.

How to set the ‘target number of shares’ and need to pay attention to anything?
  1. The target number of shares refers to the total number of shares to be purchased through the monthly investment plan.
  2. The target number of shares does not include non-monthly purchase, bonus shares, and stocks deposited through settlement instructions. The system will only purchase the relevant shares according to the target number of shares you set (for example, if you deposit 30 shares and set the target number of shares at 100, the total number of shares will be 130 shares when the plan is set).
  3. If the client only wants to suspend contributions, they can choose to suspend instead of terminating the plan. Once the plan is terminated, when you apply for the same stock again, you need to provide new instructions and set a new target number of shares; if the monthly investment plan is suspended, stocks will be purchased according to the original target when the plan is resumed.
  4. If the customer's account already possesses stocks (for example 35 shares) and wished to round up the portfolio (for example 100 shares), but it is not clear whether there is a settlement instruction or other deposit arrangement, it is recommended to cancel the existing instructions first and set new instructions. The client can set a new target of 65 shares so that the total number of shares when the plan is met is 100 shares. (Please note that the average monthly contribution of the stock will be recalculated.)
  5. Contributions will be stopped when the target number of shares is met.
Can I only contribute a specified number of shares each month?

The monthly US stock investment plan is calculated based on the total amount. If the client wants to make a monthly contribution to one share, here are some methods for reference.

For example, if the current market price of a stock that a client wants to make monthly deposits for is around US$150, the client can set a monthly supply of US$200. If the daily stock price is within US$200 then one share will be purchased, with the balance kept in the account. If the monthly contribution increases to US$210, the monthly investment plan will automatically suspend once.

I want to make a monthly deposit for a stock worth US$950 per share, but I only have US$200 per month to deposit, is it feasible?

There is a method for clients' reference: If the stock price is about US$950 and you only want to pay a monthly contribution of US$200 per month.

As long as the client sets the monthly payment amount to US$1,000 and makes a monthly deposit of US$200, since the account will be automatically suspended after 4 months because the account has not reached US$1,000, the monthly contribution will be made in the fifth month to meet US$1,000, and the balance will be retained in the account.

Can I deposit Hong Kong dollars to buy US stocks and exchange them for US dollars after the settlement?

The buying power of the Global Stock Account is calculated according to the US dollar equivalent of all currencies (HKD, USD, SGD, etc.) in the account, which means that the client can internally transfer the cash balance of the Hong Kong stock account after 6pm Hong Kong time on the trading day, depositing Hong Kong dollars into the Global Stock Account. After depositing, the buying power of the Global Stock Account will be increased accordingly. Client can issue an instruction to increase the buying power first. After the transaction is completed, it will be converted to US dollar settlement within two trading days. If there is no transaction on the day, an internal transfer can be made during Hong Kong trading hours into a Hong Kong stock account for trading Hong Kong stocks to minimize currency exchange. If the client sells US stocks on the same day after buying, only the difference needs to be settled.

What are the benefits of investing Monthly Funds Investment Plan?

Monthly Funds Investment Plan adopts the strategy of "Dollar Cost Averaging". It purchases more fund units when the fund unit price goes down and fewer units when it goes up. With a long-term investment strategy, Monthly Funds Investment Plan can help you to minimize short-term volatility of the market and balance the overall investment effectiveness.

Why choose CHIEF’s Monthly Funds Investment Plan?

With lower entry requirements at CHIEF, the minimum monthly contribution amount for each fund is HK$500 (or its equivalent in foreign currencies). Any amount more than HK$500 (or its equivalent in foreign currencies) should be the multiple of HK$500 (or its equivalent in foreign currencies). The maximum contribution amount for each fund is HK$10,000 (or its equivalent in foreign currencies). At CHIEF, we offer *$0 subscription fee offer during promotion period and there is a range of established fund houses to choose from.

*Terms and Conditions apply.

Are all funds applicable to Monthly Funds Investment Plan?

The Monthly Funds Investment Plan is applicable to certain of funds. Funds are available for subscription in different asset classes, markets and risk levels. More choices will be provided in the future, please visit CHIEF’s Fund Page for details: https://www.chiefgroup.com.hk/en/funds/Index .

What is the minimum and maximum monthly contribution?

The minimum monthly contribution amount for each fund is HK$500 (or its equivalent in foreign currencies). Any amount more than HK$500 (or its equivalent in foreign currencies) should be the multiple of HK$500 (or its equivalent in foreign currencies). The maximum contribution amount for each fund is HK$10,000 (or its equivalent in foreign currencies).

When is the application, amendment or termination deadline of the plan?

Application, amendment and termination deadline at branches will be the 5th calendar day of each month. For online application, instruction should be received before 12:00 noon of the Online Cut-off Date (the 3rd dealing days prior to the Subscription Date of each month), otherwise, instructions will take effect from the following month.

When is the Subscription Date and Withholding Payment Date?

Subscription Date is the 15th calendar day of each month. If it is not a dealing day, the Subscription Date will be the next dealing day. Client ensure that his/her securities account has sufficient cash balance by 5:00pm on the Withholding Payment Date, the three dealing days prior to the Subscription Date of each month, to cover the contribution amount. As it may take time to update deposit confirmation, it is suggested to deposit the contribution amount into the account earlier.

When will the contribution amount be deducted? What if the amount cannot be debited from client’s account?

The contribution amount will be withheld on Withholding Payment Date (the three dealing days prior to the Subscription Date of each month), and it will be deducted from client’s securities account on Payment Date (the dealing day prior to the Subscription Date of each month).

If the contribution amount is not successfully withheld from client’s securities account on the Withholding Payment Date, the monthly contribution for that month shall be automatically suspended once.

When will the funds be priced in Monthly Funds Investment Plan? When will I receive the subscribed fund units?

Subscription Date is the 15th calendar day of each month, and the buy order is based on the day's closing price of the relative fund unit announced by the Fund Houses. If it is not a dealing day of the Fund House, it will be handled in the next dealing day.

The unit(s) will appear in client’s account within 5 to 6 working days after Subscription Date.

Is bank autopay service applicable?

Bank autopay is not supported at present. For Deposit and Withdrawal details, please visit https://www.chiefgroup.com.hk/en/cs/cash .

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