East Asia Futures

Overview of East Asia Futures

East Asia Futures, established in 1989 and headquartered in Hong Kong, is a reputable brokerage firm operating in the financial markets. Regulated by the Securities and Futures Commission of Hong Kong (SFC), East Asia Futures is committed to providing a secure and compliant trading environment for its clients. Holding license number AAE975, the company demonstrates its dedication to adhering to regulatory standards.

East Asia Futures offers a comprehensive range of financial products and services, primarily focusing on futures and options products available on the Hong Kong Futures Exchange (HKFE). These products encompass various instruments, including Hang Seng Index Futures and Options Contracts, Mini-Hang Seng Index Futures and Options Contracts, Hang Seng China Enterprises Index Futures and Options Contracts, among others. Clients benefit from multiple trading channels, with options for telephone and cybertrading. The latter includes features like real-time order updates, order modification, access to quotes, and more, enhancing the convenience of trading.

In addition to its diverse product offerings, East Asia Futures stands out by providing transparent information regarding commission charges, fees, and a range of customer support options. The brokerage also offers educational resources through frequently asked questions (FAQs) to assist traders in understanding various aspects of futures and options trading. Overall, East Asia Futures aims to equip its clients with the necessary tools and knowledge to navigate the financial markets effectively.

Is East Asia Futures Legit？

East Asia Futures is regulated by the Securities and Futures Commission of Hong Kong. It holds a license for dealing in futures contracts and operates under the regulatory oversight of Hong Kong. Its license number is AAE975, demonstrating its commitment to compliance with regulatory standards and ensuring a secure trading environment for its clients.

Pros and Cons

East Asia Futures, regulated by the Securities and Futures Commission of Hong Kong, offers a diverse range of futures and options products with transparent commission fees and multiple trading channels, providing convenience to traders. However, it could enhance its educational resources and simplify its fee structure for a more user-friendly experience.

Products and Services

East Asia Futures (EAFT) offers a range of brokerage services and products to cater to the diverse needs of investors in the futures and options market. Their services encompass various futures and options products traded on the Hong Kong Futures Exchange (HKFE), including instruments like Hang Seng Index Futures and Options Contracts, Mini-Hang Seng Index Futures and Options Contracts, Hang Seng China Enterprises Index Futures and Options Contracts, among others. These instruments serve various purposes, such as providing investment exposure, capitalizing on price fluctuations, hedging existing positions, and exploiting trading opportunities.

Clients have the option to execute trades with EAFT through multiple channels. They can engage with experienced dealing staff via telephone for a direct approach to trading. Alternatively, clients can use cybertrading for added convenience, which includes features like email confirmations, real-time order status updates, order cancellation or modification, and access to real-time quotes, cash balance, and open position information. This online platform also supports various trading functions, including auction orders and limit stop loss orders.

For individuals interested in opening accounts with EAFT, the brokerage provides several options. These include commission rates and margin requirements, with no account administration or handling charges. They also offer a real-time quotes service via the Internet for monthly commissions exceeding HK$500, and there is no initial deposit requirement, giving clients flexibility in managing their funds. EAFT aims to equip clients with a suite of services and products, enabling them to navigate the futures and options market effectively.

How to Open an Account？

To open a trading account with East Asia Futures Limited (EAFT), you need to follow these steps:

For New Clients:

1. BEA Bank Account: Before opening an EAFT trading account, you must have an HK Dollar or Multi-currency bank account with The Bank of East Asia, Limited, Hong Kong (BEA). This account will be used for settlements related to futures and options trading.

2. Contact EAFT: If you have questions about opening a trading account with EAFT, you can contact their Customer Service Hotline or email for assistance.

Opening a Trading Account:

Whether you're opening an individual or corporate account, here's what you need to do:

For Individual Accounts:

- Sign the required documents, including the Client's Trading Agreement, Risk Disclosure Statement, Specimen Card, Client Information Statement (For Individual Client), Direct Debit Authorization, and other optional agreements.

- Provide necessary documents like your Hong Kong Identity Card (for Hong Kong Permanent Residents) or Passport (for non-Hong Kong Permanent Residents), proof of address, and proof of income or liquid assets.

For Corporate Accounts:

- Sign the necessary documents, including the Client's Trading Agreement, Risk Disclosure Statement, Specimen Card, Client Information Statement (For Corporate Client), and other optional agreements. An Unlimited Continuing Guarantee Agreement may also be required.

- Submit essential documents, such as identity documents of authorized signatories and directors, corporate registration papers, and financial proof.

Once your trading account is approved, you'll receive your login credentials via email or telephone for accessing EAFT's Electronic Service.

Fees

East Asia Futures (EAFT) charges various fees for trading futures contracts and options contracts. Here's an overview of the commission charges and associated fees:

Commission Charges for Futures Contracts: The commission charges for trading each Futures Contract depend on whether it's an overnight trade or a day trade. For example, for Hang Seng Index Futures Contract, the commission is HK$100.00 per contract per side for overnight trade and HK$60.00 for day trade. Additional fees include an Exchange Fee of HK$10.00 and an SFC Levy of HK$0.54 for both overnight and day trades, resulting in a total cost of HK$110.54 and HK$70.54, respectively.

Commission Charges for Mini Futures Contracts: Mini-Hang Seng Index Futures Contracts have lower commission charges. For instance, the commission is HK$20.00 per contract per side for overnight trade and HK$12.00 for day trade. The Exchange Fee is HK$3.50, and the SFC Levy is HK$0.10, resulting in a total cost of HK$23.60 for overnight trade and HK$15.60 for day trade.

Commission Charges for Options Contracts: Options contracts also have commission charges. For Hang Seng Index Options Contracts, the commission is HK$100.00 per contract per side. There's an Exchange Fee of HK$10.00 and an SFC Levy of HK$0.54, resulting in a total cost of HK$110.54. Mini-Hang Seng Index Options Contracts have a commission of HK$30.00 per contract per side, an Exchange Fee of HK$2.00, and an SFC Levy of HK$0.10, resulting in a total cost of HK$32.10.

Other Services Charges: EAFT also offers real-time quotes services for HK$188.00 per month. Additionally, overdue interest is calculated based on the Best Lending Rate as quoted by The Bank of East Asia, Limited, plus 2%, with a minimum of HK$200.00. Photo copy charges are HK$20.00 per page, and out-of-pocket expenses are borne by clients.

It's important for traders to be aware of these fees and charges as they can impact the overall cost of trading with EAFT.

Customer Support

East Asia Futures (EAFT) offers a range of customer support options for clients:

Customer Service Hotlines: EAFT provides different hotlines for various inquiries. Clients can contact (852) 3608 8181 for account opening questions, (852) 2308 8101 for dealing and trading inquiries, and (852) 3608 8182 for technical support.

Email and Address: Clients can reach EAFT via email at accounts@eafutures.com.hk. For opinions or complaints, there's a Complaint Hotline at (852) 3608-8180. Written correspondence can be sent to the Customer Complaint Officer at 9/F., The Bank of East Asia Building, 10 Des Voeux Road Central, Hong Kong. It's essential to include a signature and account number on all correspondence.

EAFT's customer support options aim to cater to clients' needs through various communication channels, ensuring that clients can access assistance conveniently.

Educational Resources

East Asia Futures (EAFT) offers a range of educational resources to assist traders in understanding various aspects of futures and options trading. These resources are designed to address common questions and concerns that traders may have.

The FAQs section covers general inquiries, providing answers to questions related to account opening, trading, technical aspects, and security. This resource serves as a quick reference for traders seeking information on these topics, making it easier for them to navigate the trading process with EAFT.

By providing a comprehensive FAQ section, EAFT aims to enhance the trading experience of its clients by offering accessible and informative answers to common queries. This educational support can help traders make more informed decisions and feel confident in their trading activities with EAFT.

Conclusion

In conclusion, East Asia Futures is a well-regulated brokerage firm headquartered in Hong Kong, providing a comprehensive array of futures and options products. Its transparent fee structure and multiple trading channels offer convenience to clients. However, the platform could improve its educational resources and simplify its fee breakdown for a more user-friendly experience. Despite these drawbacks, East Asia Futures remains a reputable choice for investors looking to engage in futures and options trading in the Hong Kong market.

FAQs

Q: Is East Asia Futures regulated？

A: Yes, East Asia Futures is regulated by the Securities and Futures Commission of Hong Kong (SFC) to ensure compliance with industry standards.

Q: What products and services does East Asia Futures offer？

A: East Asia Futures provides a range of futures and options products traded on HKFE, along with various trading services, including telephone and cybertrading.

Q: How can I open an account with East Asia Futures？

A: To open an account, you must have an HK Dollar or Multi-currency bank account with The Bank of East Asia, Limited, Hong Kong (BEA). You can contact East Asia Futures for assistance and follow the necessary steps for individual or corporate accounts.

Q: What are the fees associated with trading through East Asia Futures？

A: East Asia Futures charges commission fees for futures and options contracts, along with additional costs such as Exchange Fees and SFC Levies. They also offer real-time quotes services and have specific charges for overdue interest, photocopying, and out-of-pocket expenses.

Q: Are there educational resources available for traders？

A: Yes, East Asia Futures provides educational resources in the form of frequently asked questions (FAQs) covering topics related to account opening, trading, technical aspects, and security to help traders navigate the platform effectively.