Overview of Futu Securities
Futu Securities International (Hong Kong) Limited, established in 2012 and headquartered in Hong Kong, operates under scrutiny with a “Suspicious Clone” regulatory status. The platform offers diverse trading options including stocks, ETFs, warrants, options, futures, funds, and others, with varying minimum deposits depending on the product type. Traders can utilize the user-friendly Futubull and moomoo platforms, supported by accessible customer service via phone, email, social media, offline stores, and online chat. Futu Securities provides a demo account for practice, and features free deposit and withdrawal services. It also emphasizes community and investment education resources to support traders' knowledge and strategies.
Regulatory Status
Futu Securities, a brokerage firm, currently operates without valid regulatory oversight. The China Hong Kong SFC regulation (license number: AZT137) claimed by this broker is suspected to be clone.
In such cases, investors are advised to exercise caution and conduct thorough due diligence before engaging with any brokerage claiming regulatory approval.
Pros and Cons
Futu Securities offers a diverse range of tradable assets including stocks, ETFs, warrants, options, futures, and funds. This variety allows investors to build diversified portfolios and explore different market opportunities. The platform provides robust customer support through multiple channels such as phone, email, social media, offline stores, and online chat. Futu Securities offers the Futubull trading platform, tailored for efficient and effective trading. Furthermore, the offer of 0 commission and 0 platform management fee for select products can significantly reduce trading costs for eligible traders.
However, the term “Suspicious Clone” indicates potential issues with regulatory clarity or compliance, which could affect trust and confidence in the platform.
Market Instruments
Futu Securities provides a diverse array of market instruments for investors, catering to a wide range of trading preferences. These instruments include stocks, ETFs (Exchange-Traded Funds), warrants, options, futures, funds, and various other service: IPO Subscription & Grey Market, Margin Rate, HK Stock Auto-Invest Plan, Funding and Stock Transfer. This comprehensive selection allows investors to access both traditional and alternative investment opportunities across different asset classes.
Stocks and ETFs are prominent offerings that enable investors to directly invest in individual companies or gain exposure to diversified portfolios through ETFs. Warrants provide investors with the right, but not the obligation, to buy or sell an underlying asset at a predetermined price before a specified expiration date. Options offer similar flexibility, allowing investors to hedge against risks or speculate on price movements in the market.
Futures contracts are available for those looking to trade commodities, currencies, or financial indices at a predetermined price on a future date. Funds, including mutual funds and other managed portfolios, provide diversified exposure to a range of assets professionally managed by investment experts.
Additionally, Futu Securities offers various other service: IPO Subscription & Grey Market, Margin Rate, HK Stock Auto-Invest Plan, Funding and Stock Transfer.
How to Open an Account？
Opening an account with Futu Securities is a straightforward process that can be completed online. Here are the steps to follow:
- Access the Website: Begin by visiting the Futu Securities website. Locate and click on the “Open an account online” button prominently displayed on the website or app interface.
- Initiate Registration: You can choose to register your account using a phone number or other social media.
- Provide Personal Information: Fill out the registration form with accurate personal details. This typically includes your full name, date of birth, residential address, email address, and phone number.
- Create Login Credentials: Choose a secure password that meets the platform's criteria for complexity. You may also need to select a username or identifier that will be associated with your account.
- Verification and Confirmation: Verify your email address and/or phone number as part of the registration process. Futu Securities may send a verification link to your email or a code to your phone that you will need to input to confirm your registration.
Following these steps carefully will ensure that your registration with Futu Securities is completed successfully. After registration, you can proceed with the identity verification process and funding your account to start trading and investing through their platform.
Fees
Futu Securities offers competitive spreads and commissions tailored to different trading accounts:
- HK Stocks: There are $0 commissions indefinitely, making trading cost-effective for Hong Kong stocks.
- US Stocks: For trading US stocks, commissions are set at $0.0049 per share with a minimum of $0.99 per order. This structure ensures that traders benefit from transparent and potentially low-cost transactions, particularly beneficial for high-volume trading.
Moreover, Futu Securities divides the trading market in different regions according to different trading products. The specific commission and platform fees depend on the product and market. You can quickly browse through the following table:
In addition, Futu Securities offers three types of Funds: Money Market Fund, Bond Fund and Equity Fund. Their subscription and redemption fees are free.
In terms of other service fees,
IPO Subscription & Grey Market: The ordinary subscription fee for each order is HK $50 and the financing subscription fee is HK $100.
Margin Rate: HK Stock Annual Interest Rate is 6.8%, US Stock Annual Interest Rate is 4.8% and JP Stock Annual Interest Rate is 2.8%.
HK Stock Auto-Invest Plan: Minimum order is HK $3 per order, commission is 0.03%, commission free period is exempted. Minimum monthly investment HK$1,000.
Funding and Stock Transfer: Fund deposits and stock transfer-in are free.
Trading Platforms
Through its proprietary digital platforms Futubull and moomoo, Futu Securities offers a full range of investment services, including trade execution and clearing, margin financing and securities lending, and wealth management, to meet clients' different investment objectives and risk appetite.
Deposit & Withdrawal
- Bank of Hong Kong
Before a withdrawal by Check Transfer is available to use, it may take one trading day for the bank to process the cheque deposit after the funds have arrived in the bank account.
Fees: free of charge
Arrival time of withdrawal funds
Note: Fund will be remitted within 2-5 working days upon request for Cash Plus withdrawals. The actual arrival time is subject to the fund company's redemption time and the bank's processing time of the payment.
- Bank-Securities Transfer
Fees: free of charge
Supported Currencies: HKD and USD
Arrival time of withdrawal funds
Notes:
For single withdrawal amount over HKD 3 million / USD 500,000, manual approval is required and is expected to be completed before 16:00 on the Hong Kong stock trading day.
For single withdrawal amount over HKD 8 million / USD 2 million, it may take T+1 trading day to complete, please make advance arrangement.
- Offshore banks
Withdrawal by Bank of China (Hong Kong) wire transfer Transfer
Fee: Handling fee on HKD 300 (withdrawing HKD)/45 USD (withdrawing USD) for each transaction will be charged by the Hong Kong remittance bank.
If you withdraw Hong Kong dollars to overseas regions (except Macau), you will also be charged a “no exchange fee”, 0.25% of the amount of each remittance, the minimum is 100 Hong Kong dollars, and the maximum is 0.25% of the equivalent of US$50,000, fees charged by Hong Kong-based sending bank.
Arrival Time of withdrawal funds: Funds will be remitted within 1-2 working days after applying for withdrawal. Due to the cross-border transfer of funds, the specific arrival time is uncertain.
Note: Fund will be remitted within 2-5 working days upon request for Cash Plus withdrawals. The actual arrival time is subject to the fund company's redemption time and the bank's processing time of the payment.
Customer Support
Futu Securities provides robust customer support options to assist users with their inquiries and technical support needs across various channels:
- Phone Support: Users can reach Futu Securities' customer service team via phone number: +852 2523 3588 during specified business hours.
- Email Support: For more information about Business Partnerships or Media Contact, please email BD@futuhk.com or media@futuhk.com.
- Offline Store: The FUTU store can provide face-to-face assistance for account-related issues or trading inquiries. The address is at G/F, 96 Nathan Road, Tsim Sha Tsui, Kowloon(Tsim Sha Tsui MTR station exit B1, Opposite to ‘The ONE’)
Opening Hour:
Monday to Saturday: 10:00 am - 9:00 pm
Sunday and public holidays: 10:00 am - 6:00 pm
- Social Media: You can also follow social media accounts:
Facebook: https://www.facebook.com/futuhk？fref=ts
Instagram: https://www.instagram.com/futufriends/
WhatsApp: +852 30015885
- Online Chat: Futu Securities supports online chat 24 hours on trading days, as well as from 9:30 to 21:30 on non-trading days.
In addition, You can also visit the company directly: 34/F, United Centre, 95 Queensway, Admiralty, HK
Opening hour: 9:00am-6:00pm (From Monday to Friday)
Educational Resources
Futu Securities fosters a vibrant community where investors can connect, share insights, and learn from one anothers experiences. Futu Securities also understands the importance of informed investing and provides a variety of educational resources to support users at every level of experience.
By combining comprehensive educational resources with community engagement opportunities, Futu Securities aims to empower its users with the knowledge and skills necessary to navigate the complexities of financial markets effectively. Whether users are looking to build a foundational understanding of investing or seeking to refine their trading techniques, Futu Securities commitment to education ensures that users have access to the tools and support needed to succeed in their investment endeavors.
Conclusion
In conclusion, Futu Securities offers a robust suite of trading products and comprehensive customer support, making it a viable option for investors seeking diverse market opportunities and accessible assistance. However, potential concerns regarding regulatory clarity and the platform's dedicated trading interface should be carefully considered.
FAQs
Is it safe to trade with Futu Securities？
The safety of traders is very important, especially the supervision, its regulatory status is suspected of cloning, it is recommended to choose other regular traders.
Do I need to trade HK stocks？
$0 commissions.
Is it suitable for novice traders？
No, because the regulatory status is suspected cloning.
How to know if my account is opened？
Once the account is opened, Futu will notify you by email and APP system messages.
