Open Securities Limited (Open Securities) Formerly known as TC Concord Securities Limited, it is a financial institution based in Hong Kong and facing the world. The company was established in Hong Kong in 1994 and is committed to developing into a “leading comprehensive financial service institution” and “professional asset management institutions”.
What is Open Securities？
Open Securities is a Hong Kong-based brokerage firm regulated by the SFC, offering low fees and user-friendly trading apps for both iOS and Android. The platform provides robust security measures to protect client data and funds. However, it lacks specific details about insurance coverage for client funds.
Pros and Cons of Open Securities
Open Securities offers a range of benefits including robust regulation by the SFC, the use of encryption technologies to protect client data, and likely segregation of client funds for enhanced safety. However, specific details about insurance coverage for client funds and detailed security protocols are not provided, which might be a concern for some investors.
Open Securities is considered a safe investment platform due to its regulation by the SFC, use of segregated accounts for client funds, and strong encryption technologies to protect data. However, the lack of specific details about insurance coverage and detailed security protocols may be a concern for some investors.
Is Open Securities safe？
Regulations
Open Securities is regulated by the Securities and Futures Commission (SFC) of Hong Kong, ensuring it adheres to strict standards and local laws, providing protection for investors.
Funds Safety
Client funds are likely kept in segregated accounts, ensuring they are not used for the companys expenses and are available for withdrawal at any time. However, specific details about insurance coverage for client funds are not provided.
Safety Measures
Open Securities uses encryption technologies to protect client data and implements robust security measures to prevent unauthorized access and information leakage.
What are securities to trade with Open Securities？
Open Securities offers a comprehensive suite of investment options, including Hong Kong futures, Hong Kong stocks, and US stocks.
Hong Kong Futures
Open Securities provides access to Hong Kong futures, allowing investors to trade contracts on various underlying assets. These include indexes, commodities, and interest rates. Trading futures offers the potential for high returns, leveraging opportunities, and hedging against market volatility.
Hong Kong Stocks
Investors can trade Hong Kong stocks through Open Securities, accessing shares of companies listed on the Hong Kong Stock Exchange (HKEX). This market is known for its diverse range of industries, including finance, technology, and real estate. Trading Hong Kong stocks offers opportunities for portfolio diversification and exposure to the Asia-Pacific region's economic growth.
US Stocks
Open Securities also facilitates trading in US stocks, enabling investors to buy and sell shares of companies listed on major US exchanges like the NYSE and NASDAQ. The US stock market is home to some of the world's largest and most influential companies, providing opportunities for growth and income through dividends.
Open Securities offers a diverse range of products, allowing investors to tailor their portfolios to their financial goals and risk tolerance.
Open Securities Accounts
Individual and Joint Accounts
Cash Account
A cash account is used for trading Hong Kong stocks, and transactions can only be made using the cash available in the account. To open a cash account, you need to provide the following documents: a Hong Kong or overseas resident ID, a valid passport copy, a travel permit copy, and an address proof such as a utility bill or bank statement from the last three months. You also need to fill out and submit the account opening application form for individual or joint accounts from Open Securities Ltd.
Margin Account
A margin account allows you to trade using margin credit in addition to the functionalities of a cash account. The required documents for opening a margin account are the same as those for a cash account. Additionally, you need to fill out the margin account opening application form for individual or joint accounts from Open Securities Ltd.
For opening a corporate account, please contact this company's customer manager by phone or visit our office to obtain the necessary information.
Application Methods
You can apply for an account opening in one of three ways:
1. Download and Mail: Download the account opening form, refer to the form example, print, fill out, and sign it. Mail the original form along with the required document copies to our company. Our customer manager will contact you after reviewing your application.
2. In-Person Visit: Visit our office to handle the account opening procedures. Bring the required document copies. Our service hours are Monday to Friday, from 9:00 AM to 6:00 PM. We are closed on weekends and public holidays.
3. Appointment: Make an appointment by phone at (852) 3405-7355 or email at cs@opensecltd.com.
Open Securities Fees Review
Hong Kong Market (HKD)
For trading in the Hong Kong market, Open Securities charges a negotiable brokerage commission, typically set at 0.25% of the transaction amount, with a minimum fee of HK$100. Additionally, a stamp duty of HK$1.30 is applied for every HK$1,000 of the transaction amount, which is paid by both the buyer and seller. There are also other associated fees, including a transaction levy of 0.0027%, a trading fee of 0.00565%, and a CCASS fee of 0.002% on the transaction amount, with a minimum charge of HK$2.00 and a maximum of HK$100.00.
Shanghai A / Shenzhen A Shares (CNY)
For trading Shanghai A and Shenzhen A shares via the Stock Connect program, the brokerage commission is negotiable and typically set at 0.25% of the transaction amount, with a minimum charge of CNY50. The seller is subject to a stamp duty of 0.10% on the transaction amount. Both sides of the transaction incur a securities management fee of 0.002%, a handling fee of 0.00487%, and a transfer fee of 0.004%.
USA Market (USD)
When trading US stocks, the brokerage commission is negotiable and generally 0.25% of the transaction amount, with a minimum fee of US$20. An additional charge of US$0.01 per share applies if the settlement price is below US$5.
Other Markets
Fees for other markets vary. For instance, trading in the UK market involves a brokerage commission of 1.25% of the transaction amount, with a minimum fee of GBP£15. There is also a stamp duty of 0.5% on the transaction amount for buy trades, and an additional tax of GBP£1 if the gross amount exceeds GBP£10,000.
Settlement and Custody Fees
Open Securities also charges for settlement and custody services. For Hong Kong stocks, transfer stamp duty is HK$5.00 per transfer deed, and settlement instruction fees are HK$50.00 per transaction for delivery instructions. Custody fees and stock deposit fees are waived. Physical stock withdrawal fees are HK$3.50 per board lot plus a HK$50.00 handling charge.
Dividend Collection Fees
For collecting dividends, the fee is generally 0.50% of the dividend amount, with a minimum charge varying by market. For example, the minimum fee is HK$25.00 for Hong Kong stocks, US$3.20 for US stocks, and HK$25.00 for Shenzhen B shares.
Miscellaneous Fees
Other miscellaneous fees include a returned cheque fee of HK$200.00 per returned cheque and IPO application fees, which are HK$50.00 for non-financing applications processed manually and HK$100.00 for financing applications. There are also charges for placing shares and handling GDR cancellations in the OTC market.
Open Securities' fee structure is comprehensive, covering a wide range of services and markets, ensuring clients are aware of all potential costs associated with their trading and investment activities.
Open Securities App Review
iOS Mobile App
Open Securities provides a trading platform for iOS devices, which can be downloaded from the Apple App Store. Users can search for “Open Securities” in the store to find and install the app. This platform allows investors to trade on the go, providing real-time quotes and seamless transaction capabilities directly from their iPhone or iPad.
Android Mobile App
For Android users, Open Securities offers a trading platform available on Google Play. By searching for “Open Securitie” in the Google Play Store, investors can download the app and access the trading platform. Additionally, the platform can be downloaded directly by scanning a QR code, making it convenient for users to install the APK version.
Desktop Trading Platform
Winner Trade
Winner Trade is a web-based trading software designed to cater to the needs of both seasoned futures traders and newcomers to online trading. The platform is highly customizable to suit individual trading habits and offers real-time quotes and transactions synchronized with the exchange, ensuring no time lag.
System Requirements for Winner Trade:
Operating System: Windows 2000 Service Pack 3, Windows XP Service Pack 2, Windows Vista, Windows 7, Windows Server 2003, or Windows Server 2008
Browser: IE 5.01 or later
CPU: Intel Pentium 4 or higher
Hard Drive: Minimum 40GB of free space
Memory: At least 2GB RAM
Resolution: 1028x768 or higher
Internet: Broadband connection
Required Software: Microsoft Windows XP Professional or above, Microsoft .NET 2.0
Open Securities offers versatile trading platforms for both mobile and desktop users. The iOS and Android mobile apps provide flexibility for trading anywhere, while the Winner Trade desktop platform offers robust features and real-time synchronization with the exchange. These platforms cater to a wide range of investors, from professional traders to beginners, ensuring a seamless and efficient trading experience.
Customer Service
Open Securities Limited provides comprehensive customer support to ensure clients receive the assistance they need. Located at Room 3208 – 3209, The Gateway Tower 6, 9 Canton Road, Tsim Sha Tsui, Hong Kong, the company offers multiple contact methods.
Contact Information:
Trading Line: For trading inquiries, call (852) 3405-7355.
Trading Fax Line: Send faxes to (852) 3186-2244.
Client Service Line: For general services, call (852) 3405-7388.
Customer Service Email: Email cs@opensecltd.com.
Website: Visit https://www.opensecltd.com for more information.
Opening Hours:
Monday to Friday:
Morning: 8:30 AM – 12:00 PM
Afternoon: 1:00 PM – 6:00 PM
Open Securities Limited ensures clients can easily get support through phone, fax, email, or online resources, providing prompt and efficient service during working hours.
Conclusion
Open Securities Limited is a Hong Kong-based brokerage firm regulated by the SFC. It offers low fees, user-friendly trading apps for iOS and Android, and robust security measures for client data and funds. Despite lacking specific details about insurance coverage for client funds, the firm provides comprehensive customer support and versatile trading platforms, making it a reliable choice for investors.
FAQs
Is Open Securities safe to trade？
Open Securities is regulated by the Securities and Futures Commission (SFC) of Hong Kong, ensuring compliance with strict regulatory standards. The firm uses robust encryption technologies and likely segregates client funds to enhance safety. However, specific details about insurance coverage for client funds are not provided.
Is Open Securities a good platform for beginners？
Yes, Open Securities offers user-friendly trading apps for both iOS and Android, making it accessible for beginners. The platform also provides comprehensive support and a variety of investment options, which can help new investors get started.
Is Open Securities legit？
Yes, Open Securities is a legitimate brokerage firm regulated by the SFC in Hong Kong. The regulation ensures that the company operates within legal standards and provides a level of protection for investors.
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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