SILVERBRICKS SECURITIES COMPANY LIMITED (hereinafter referred to as “Silverbricks Securities”), along with SILVERBRICKS ASSET MANAGEMENT COMPANY LIMITED (hereinafter referred to as “Silverbricks Asset Management”), are primarily engaged in the Securities and Asset Management business and licensed by the SFC for Type 1 (Dealing in securities), Type 2 (Dealing in futures contracts), Type 4 (Advising on securities), Type 6 (Advising on corporate finance), and Type 9 (Asset management) regulated activities.
What is Silverbricks Securities？
Silverbricks is an online brokerage offering a diverse range of services with no minimum account requirement. It provides competitive fees, including a minimum Securities Trading Commission of HK$50 and varying charges for other services and futures/options. The platform supports mutual funds and operates with a straightforward fee structure that meets different investor identifications. It is accessible via mobile apps on Google Play and the Apple Store, as well as through a web platform, making it convenient for users to manage their investments.
Pros and Cons of Silverbricks Securities
Silverbricks Securities presents several strengths, including its lack of a minimum account requirement, making investing accessible to all. It offers competitive fees, although its fee structure can be complex, with varied costs depending on the type of account and service utilized. The platform's availability across multiple platforms—Google Play, Apple Store, and web—enhances convenience for users. However, potential drawbacks include limited information on futures and options trading, which may not fully satisfy advanced traders seeking detailed insights.
Is Silverbricks Securities safe？
Regulations
Silverbricks Securitiesis currently licensed and regulated by the China Hong Kong Secturities and Futures Commission of Hong Kong(SFC) under license number BLN458 and BNJ665.
What are securities to trade with Silverbricks Securities
Silverbricks Securities provides a diverse range of investment products includingstocks, options and futures. However, it does not currently offer bonds, or forex trading, limiting the scope for investors interested in these specific asset classes.
Besides these products, Silverbricks Securities also provide asset management services.
Silverbricks Securities Accounts
Silverbricks Securities offers a range of account types to accommodate different investor needs. Individual and Joint accounts are available for personal investors looking to manage their investments independently or jointly with a spouse or partner. These accounts allow individuals to trade securities and access various investment products offered by Silverbricks. Additionally, Corporate accounts are provided for businesses and organizations seeking to manage their investments and capitalize on market opportunities. Each account type is tailored to provide flexibility and access to the platform's services, ensuring that investors can align their investment strategies with their specific financial goals and preferences.
Silverbricks Securities Fees Review
Silverbricks Securities offers a transparent fee structure for securities trading. Commissions for both telephone and internet trades are negotiable with a minimum charge of HK$50. The CCASS fee is 0.01% of the transaction amount, ranging from HK$3 to HK$300. Stamp duty is applied at 0.1% of the consideration, rounded up to the nearest HK$1,000. Additional charges include a 0.0027% transaction levy, a 0.00565% trading fee, and a 0.00015% FRC transaction levy. Notably, Silverbricks Securities provides free custody services, enhancing its appeal to cost-conscious investors.
Silverbricks Securities offers comprehensive physical scrip handling and settlement services. For stock deposits, a stamp duty of HK$5 per certificate or transfer deed is applied, with no custody fee. Stock withdrawals incur an action fee of HK$5 per board lot (or for odd lots) and a flat handling fee of HK$150 regardless of the number of stocks. CCASS settlement instructions for stock deposits are free, while withdrawals cost 0.03% of stock value (minimum HK$3) plus a HK$100 handling fee per stock. Investor Settlement Instruction transactions are free for deposits, with a HK$30 per stock fee for withdrawals.
Silverbricks Securities also offers comprehensive nominee services and corporate action handling. Dividend collection incurs a 0.50% fee (min HK$30, max HK$5,000) plus a HK$2 per board lot scrip fee. Bonus and rights collections have a flat HK$30 handling fee and HK$2 per board lot scrip fee. Rights subscriptions, warrant conversions, and cash offers are charged HK$30 each, with additional corporate action fees of HK$1 per board lot. Cash offers also incur a 0.13% stamp duty. Dividend claims are charged 0.50% of the total amount (min HK$30, max HK$5,000) plus a HK$500 handling fee.
IPO applications, stop cheques, and returned cheques incur a flat HK$100 handling fee. Statement duplications are free within 3 months and HK$30 per set thereafter. Audit confirmations are charged at HK$200 per letter. The firm applies no interest on credit balances. Late payment interest rates are Prime Rate + 8% for custodian accounts and Prime Rate + 4.625% (negotiable) for margin accounts. Remittance services via CHATS (excluding Bank of China HK) are priced at HK$300 for local currency and HK$400 for foreign currency transactions after 11 am. This fee structure balances accessibility with competitive pricing for a wide range of auxiliary financial services.
Silverbricks Securities App Review
Silverbricks Securities offers a user-friendly mobile app available on both Google Play for Android devices and the Apple Store for iOS devices, in addition to its web platform. The app provides convenient access for investors to manage their portfolios, execute trades, and monitor market trends on the go. With a streamlined interface and robust functionality, users can stay informed about their investments and make timely decisions from their mobile devices or desktop computers.
Customer Service
Clients can get in touch with SilverbricksSecurities through the following channels:
Address : Units 1004-1006, 10/F., Shun Tak Centre, China Merchants Tower, 168-200 Connaught Road Central, Sheung Wan, Hong Kong.
Telephone Number : (852) 3998 5120
Fax Number : (852) 3618 4832
Conclusion
In conclusion, Silverbricks Securities offers a versatile and accessible brokerage platform with no minimum account requirements, diverse account types, and competitive fees. Its user-friendly mobile and web interfaces, coupled with robust trading tools, make it particularly suitable for beginner to intermediate traders and investors seeking flexibility and affordability. While the platform caters well to those trading stocks, ETFs, and basic options, more advanced traders dealing in complex derivatives or requiring extensive research tools may find the offerings limited.
FAQs
Is Silverbricks Securities a good platform for beginners？
Silverbricks Securities is generally considered suitable for beginners due to its user-friendly interface and educational resources. However, it's important for beginners to conduct thorough research and understand the platform's fee structure, services offered, and customer support before making a decision.
Is Silverbricks Securities legit？
As of my last update in January 2022, Silverbricks Securities was not widely known. To determine its legitimacy, you should check if it is registered with relevant financial regulatory authorities in your country, read reviews from other users, and ensure it meets industry standards for security and transparency.
Is Silverbricks Securities good for investing/retirement？
The suitability of Silverbricks Securities for investing or retirement depends on several factors including the range of investment options available, fees charged, customer service quality, and whether it offers retirement-specific accounts or services. It's advisable to compare it with other platforms and consult with a financial advisor to make an informed decision based on your specific investment goals and needs.
Risk Warning
The information provided is based on WikiStock's expert evaluation of the brokerage's website data and is subject to change. Besides, online trading entails substantial risks, potentially leading to total loss of invested funds, so comprehending associated risks before engaging is crucial.
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